CORPORATE INSURANCE
FIRE AND SPECIAL PERILS INSURANCE
This insurance provides compensation in respect of damage to the insured properties arising (caused by) out of Fire, Lightning, Explosion, Aircraft damage, Impact damage by road vehicles or animal not belonging to or under the control of the insured, Bursting or overflowing of water-tanks, apparatus or pipes, Bush-fire, Riot and Strike, Malicious damage, Tornado, Flood and Earthquake.
This policy could be arranged to cover loss or damage to any of the under listed items:-
- BUILDING
- RENT
- OFFICE FURNITURE, FIXTURES, FITTING AND EQUIPMENT
- STOCKS
- DEBRIS REMOVAL
Depending on the values allocated to the above items competitive rates would be offered and, discounts provided for availability of adequate fire extinguishing appliances and long term agreement (LTA) - where this policy is placed with us for a specified period.
BURGLARY AND HOUSEBREAKING INSURANCE
This offers compensation to you in the event of loss of or damage to the property insured as a result of theft or any attempt theft accompanied by violent and forcible breaking into or exit from the premises. Cover however, extends to damage(s) to the building in an attempt to carry out the theft.
All costs are recoverable, including the cost of repairing damage to the insured properties as a result of burglary or attempted burglary provided, the operation is accompanied by violent/forcible entry into or exit from insured premises.
It will cover two items, which are:
- STOCKS
- OFFICE FURNITURE FITTINGS & EQUIPMENTS
MONEY INSURANCE
This provides cover for loss of money whilst in transit from your premises to to safes and money in custody of authorised employees. The cover is "All Risks" of loss or damage subject to standard exceptions.
The term money as used in the policy has a wider definition than the general usage. It includes cash, bank notes, currency notes, cheques (other than pre-signed blank cheques, whether crossed or not), postal and money orders, current postage stamps, travel tickets belonging to you or for which you are responsible.
MOTOR INSURANCE
This offers comprehensive protection against loss of or damage to insured vehicles following fire, theft, accidental collision or overturning and legal liability to third parties for damage to properties and/or injuries to, or death of persons.
The 3 (three) types of motor insurance are:
- Private motor;
- Commercial vehicles (Own goods);
- Commercial vehicles (Passenger carrying)
- Motor cycle.
The 3 classes of insurance (which applies to all of the above) are:
- Third Party Insurance;
- Third Party, Fire & Theft Insurance and
- Comprehensive Insurance.
COMPUTER (ALL RISKS) INSURANCE.
In view of the increasing use of electronic data processing facilities by a large number of Nigerian firms either for accounting or allied work, we offer insurance protection for these equipment under a computer all risk insurance policy.
There are basically, two aspects of cover namely the material damage section and the consequential loss section.
The material damage section is on all risks basis covering loss or damage arising from external or internal cause, subject to policy exceptions. The consequential loss policy on the other hand covers the following:
- Loss of revenue or additional expenditure e. g. extra costs of using alternative computer ..facilities.
- Costs of recompiling data.
Please advise the replacement values of the computers/accessories as well as values required on the above to enable us provide cover.
MARINE CARGO INSURANCE
This class of insurance insures your imported assets on the high seas against maritime risks and other contingencies including fire, breakage, war, strikes etc.
Cover is in respect or loss/damage to property insured whilst in transit from overseas port to your premises and/or warehouse in Nigeria.
These categories of cover are available under this insurance namely:-
- Institute Cargo Clause ‘A’ (I.C.C. A);
- Institute Cargo Clause 'B' (I.C.C. B);
- Institute Cargo Clause 'C' (I.C.C. C).
The widest of the cover is clause 'A' which, covers the risk of physical loss of or damage to your goods e.g. spare-parts while being transported from anywhere in the world to Nigeria.
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