FIRE INSURANCE

This policy offers protection of fixed assets such as buildings (private, commercial or industrial) and contents (personal effects, plants & machinery, stock in trade etc.) against physical loss or damage by fire and special perils like explosion, Lightning, impact, earthquake, flood, storm and tempest, riot, strike and civil commotion. Items like office contents, furniture and accessories are also covered.

Requirement for quotation:

• Description and location of items to be covered
• Value (if building, when last valued)
• Previous claim experience 

BURGLARY AND HOUSEBREAKING INSURANCE

The policy covers residential or office premises against losses or damage by theft, arising out of forcible and violent entry into, or exit from the insured premises or; damage from attempted theft.

Requirement for quotation:

• Location and occupation of items to be covered
• Type of goods stored – attractiveness & portability
• List of Items with Value
• Previous claim experience

HOUSEOWNER/HOUSEHOLDERS COMPREHENSIVE INSURANCE

This policy could be effected by the owner of the building or tenants therein. It applies to both the building and the contents. It combines four different classes of insurance – fire/special perils, burglary/theft, public liability and personal accident. The policy could be divided into three (3) Sections;

• Section I – Building, covers Fire & Lighting, special perils
• Section II – Contents, covers Fire, Burglary and Accidental damage
• Section III – Liability to the Public (limit N1M)

HOUSEHOLDERS COMPREHENSIVE INSURANCE

This policy is issued to a person who lives in a rented apartment – Tenant.

The policy provides all risks cover for the content of the apartment. Specifically, it combines four different classes of insurance – fire/special perils, burglary/theft, public liability and personal accident.

MOTOR INSURANCE (PRIVATE/COMMERCIAL VEHICLE)

This cover provides indemnity for loss or damage to vehicles arising from accidental collision, overturning, fire, theft and third party liability for death or bodily injury.

Requirement for quotation:

• Make, Type & Registration No. of vehicle
• Current Vehicle License
• Proof of Ownership and other relevant particulars
• Type of Cover required e.g. Comprehensive, Third Party Insurance and Third Party, Fire & Theft Insurance.

MARINE CARGO INSURANCE (IMPORT & EXPORT)

It provides cover for losses or damage to goods whilst in transit either by sea or air from the importing countries warehouse to the Insured’s warehouse in Nigeria for import whilst same cover is given for Export products from Nigeria to other countries.

There are three (3) types of cover available:

• Clause ‘A’ (All risks cover),
• Clause ‘B’ (Medium cover)
• Clause ‘C’ (Minimum Cover – Compulsory for all importations into Nigeria).

In practice, only Clause ‘A’ and Clause ‘C’ are commonly used.

 Requirement for quotation:

• Form M
• Pro forma Invoice

GROUP PERSONAL ACCIDENT INSURANCE

This policy provides benefits for death, bodily injury and reimbursement of medical expenses resulting from accidents caused by violent and visible outward means resulting into death and partial or permanent disablement of Employees in an organization. This cover is on twenty-four (24) hours basis and cover is worldwide.

 Requirement for quotation:

• List of employees
• Annual Earnings per Employee
• Position/Post Per Employee
• Level of benefits desired i.e. four times annual salary

FIDELITY GUARANTEE INSURANCE

The objective of this policy is to compensate for all direct losses sustained by the company through any act of fraud or dishonesty committed by specified employees. This act covers stealing of money or stock, falsification of accounts by the employees. This could be arranged either on blanket basis, position basis or named basis.

 Requirement for quotation:

• List of employees to be covered
• Limit Per Loss
• Aggregate limit i.e. Limit per loss multiplied by number of staff covered

GOODS-IN-TRANSIT

This policy provides indemnity for loss or damage to goods i.e. Fire, burglary, accidental damage or overturning whilst in transit either when conveyed by by owned or hired vehicles anywhere in Nigeria.

Requirement for quotation:

• Nature/Type of goods being carried
• Limit per carrying
• Estimated Annual Carrying i.e. Limit per carrying multiplied by the number of times goods are carried in a year
• Mode of conveyance (Own or Hired Vehicle)
• If hired vehicle, then owner/hirer agreement.
• Level of cover required (Restricted or All Risks)

 ALL RISKS INSURANCE

This cover is required to provide all risks cover for valuable stationary and movable items like electronic data equipment, computers, laptops, camera, camcorder etc.

The applicable premium defers with respect to the exposure to environmental hazards especially of fire, lightning, explosion, aerial devices, aircraft damage, impact strike, riot, civil commotion.

Requirement for quotation:

• List of items to be covered with values
• Present location of items to be covered

 PROFESSIONAL INDEMNITY

This policy is intended to indemnify the Insured, their Executors, Administrators or Assigns, in respect of loss arising from any claim or claims which may be made upon them by reason of any neglect, omission or error committed in the conduct of the Insured’s business in the professional capacity as stated in the Schedule, by the Insured or by any person now or who may hereafter be in employment of the Insured provided that the act of neglect, error or omission shall have been committed during the period of insurance.

Requirement for quotation:

• List of items to be covered with values
• Present location of items to be covered