Insurance Products
A. Asset Protection Products
Motor Insurance
This product provides comprehensive cover for motor vehicles. It is noteworthy that Motor vehicle (Third Party) Insurance is a statutory requirement under the Insurance Act of 2003. The risks underwritten by this product include Fire damage, Theft, Accidental damage, Injuries to third parties, Damage to third party properties, Riot and strike and Flood. .
Fire & Special Perils Insurance
A unique cover for buildings and the content therein against losses resulting from Fire, Lighting, Explosion, Impact damage, Flood and Storm.
Burglary & Housebreaking Insurance
This product provides insurance against loss or damage to properties consequent upon breaking into or out of the premises by burglars.
Insurance Products
B. Operational Risks Protection Products
Goods in Transit (GIT)
GIT is a product designed specifically to compensate for loss or damage to chattel in transit as a result of the following:- Fire, Explosion, Accidents, Theft (following the earlier risks)
Marine Cargo Insurance
Marine insurance provides cover for loss or damage to your imported goods during sea/air transit and at the ports resulting from Fire, Explosion, Theft, Sinking of ship and Water.
Fidelity Guarantee
This product is a mitigant for the fraudulent acts of employees which result in financial losses to your organization. The scope of cover includes; Misappropriation and fraudulent conversion, Embezzlement and Larceny.
Money Insurance
This product is designed to cover the insured against loss of own-money or money for which the insured is responsible. The cover mitigates losses which occur While in transit/ From any of the insured premises as a direct result of theft accompanied by violence by any person other than an employee of the insured/ From a locked safe or strong room at any of the insured premises stated in the schedule to the policy/Cash in personal custody of key employees/ Loss of or damage to safe and strong rooms resulting from theft of money or any attempt thereat.
Insurance Products
C. Casualty Protection Products
Public Liability Insurance (PLI)
This is to insure your organization against legal liability for bodily injury or damage to property sustained by members of the public as a result of your operations.
Directors’ and Officers’ (D & O) Liability Insurance
This product covers an organization against committal acts, contracts, transaction and financial commitment initiated by a Director (or Officer) on behalf of an organization for which financial loss has been by suffered by third parties.
Insurance Products
D. Employee Protection Products
Group Personal Accident (GPA)
GPA is a group policy cover designed to insure employees against bodily injury or accidental death within and outside the workplace (24-hour cover). Organizations with minimum staff strength of 2 workers are eligible for the GPA product.
Benefits
The following benefits are payable to employees under this cover: Death Benefit/ Permanent Disability Benefit (PD)/ Temporary Total Disability Benefit (TTD)/ Medical Expenses.
Employer Liability Insurance (ELI)
This product is designed to compensate employees in the event of an accident which results in bodily injuries or death in the course of performing official duties. This cover is effected by the employer for the benefit of the employees.
Benefits
The following benefits accrue to employees under this cover: Death Benefit/ Permanent Disability Benefit (PD)/ Temporary Total Disability Benefit (TTD)/ Medical Expenses.
Group Life Assurance (GLA)
This product is mandatory under Pension Reform Act 2014 which stipulates that every employer shall maintain a Group Life Insurance Policy in favor of each employee for a minimum of three times (3X) the annual total emolument of the employee as death benefit.
It provides lump sum death benefits for dependents of deceased employees in the event of their death whilst in service.
Benefit:
Issuance of a certificate of compliance (Group Life Assurance Certificate) to your organization by the appointed insurer/ Upon the passing of any employee, the group life scheme guarantees payment of 300% of the employee’s total emolument.