In Nigeria, Third Party Insurance has been made compulsory for all car owners by the government. We pride ourselves on offering our clients some very competitive rates for both Third Party and Comprehensive Motor Insurance.
- Basic Third Party Policy: This offers cover against the damage of another road user’s vehicle by the insured vehicle. Under this policy, you are covered against:
- Basic Motor Comprehensive Policy: This covers accidental damage or loss to the insured vehicle due to accident, fore, theft and legal liability to third parties.
- Product Liability: This is often treated as an extension to public liability covers the insured’s legal liability for bodily injury or loss or damage to property caused by the insured’s products or goods bodily injury and /or damage to property arising during the currency of the policy through defects in the commodities, or goods sold, supplied, serviced or processed by or on behalf of the insured or arising through defects in the containers of the goods or the wrong labelling thereof. Fire & Allied perils
Policy provide indemnity in respect of loss of or damage to the property insured caused by fire, aircraft, explosion, earthquake, Riot & Strike, malicious damage, Bush fire, Tornado, flood, Burst pipe and impact.
The company’s policy provide indemnity in respect of loss of or damage to the property insured caused by burglary or housebreaking accompanied by the actual forcible and violent breaking into or out of the premises or any attempt threat.
Covers loss or damage done by Burglars and or House breakers to the property insured including fixtures and fittings the insured’s own property or for which he is responsible as a tenant. Loss of Rent caused by any of the insured perils up to 10% of the sum insured is also covered as well as insured’s legal liability to the public as occupier and compensation for death of insured caused by fire.
Covers loss or damage caused by any of the under mentioned perils to the Buildings specified in the schedule by fire, lightning, Thunderbolt, Explosion, Subterranean fire, Storm, tempest, Hurricane, Tornado, Earthquakes, Aircraft and other aerial devices, Bursting or overflowing of water tanks, loss of rent, Burglary and House breaking and property owner’s liability to third parties for injured or damage.
Cover extends to Death, Permanent Total Disablement, Permanent Partial Disablement, Temporary Disablement and medical expenses which the insured shall sustain within twelve calendar months from bodily injury caused by violent, external and visible means.
The company’s money policy will indemnify the insured against loss of money, cheques or stamps caused by any cause during transit in the personal custody of authorized employees. In addition, money for payment of wages is covered until paid out whilst on premises provided it is secured in an approved safe or strong room at the insured’s premises.
Policy covers indemnity to the insured against all legal cost recoverable by any claimant from the insured including costs and expenses incurred with the written consent of the company. Policy also covers accidental bodily injury to or illness of any person or accidental loss of or damage to property occurring the period of insurance happening in connection with the business carried on at the insured’s premises.
Policy indemnifies the insured against loss of or damage to insured caused by fire, theft and accidental damage directly caused by collision or over timing of the conveying vehicle whilst in transit occurring during the period of insurance.
Fidelity Guarantee Insurance
Cover is for act of fraud, dishonesty, defalcation of money, stock, committed by any employee described in the schedule whilst employed in the capacity set against his name in the specification during the said period of insurance.
Professional Indemnity Insurance
Policy indemnifies the insured in respect of loss arising from any claim or claims which may be upon them by reason of any neglect omission or error committed in the conduct of the insured’s business in their professional capacity stated in the schedule by the insured or any person now or who may hereafter be in the employment of the insured provided that the act of neglect error or omission shall have been committed during the period of insurance.
Group Personal accident Insurance
This policy provides compensation for your staff consequent upon an accident resulting in death, permanent disablement, total temporary disablement and medical expenses while in employment.
The Group Personal Accident is designed to simultaneously serve as an incentive for boosting the insured employees’ morale and output, and protect the company against the unplanned cost of staff medical expenses.
The GPA covers employees against general accidents throughout the day, irrespective of whether their accident occurred on business premises.
A discount is available for companies insuring more than 20 employees.
Consequential Loss Insurance
This is a product designed to compensate clients who suffer losses as a result of Fire and Allied Perils. As every organization knows, other losses are incurred after such an event, namely loss of income, added operating costs and employee payroll even when the business has been closed for repairs. The policy provides cover so that these reasonable expenses can still be met.