General Insurance

Motor insurance which is the most common of all the known class of insurance is designed to protect the insured for loss of or damage to his vehicle. Damage to third patry property including bodily injury and death to third parites caused by accident.

Covers available include the following:

  • Third party only cover: Third party property damage is covered in addition to bodily injury and costs.
  • Third party fire and theft cover: Loss of or damage to the insured vehicle caused by fire and theft is covered in addition to cover available above.
  • Comprehensive cover: Loss of or damage to the insured vehicle is covered in addition to the covers available under the first two described above

The above cover is available for any of the following vehicles.

  • Private cars
  • Commercial vehicles (taxi,bus and hired cars).
  • Commercial  vehicles (own goods).
  • Commercial vehicles (general cartage).
  • Motorcycles.
  • Motor trade vehicles.

The standard fire policy is intended purely to cover or protect insured property such as building, contents ,e.t.c.

Also against the risk of fire, lightening and domestic explosion.

The stardard fire policy is also extended on request to include special perils such as flood, tempests torm, tornado, hurricane, explosion, impact, riot and strike, malicious damage bush fire burst pipe, subsidence, earthquake e.t.c. by payment of an additional premium.

– Burglary insurance is designed to protect the insured against loss of or damage to the property, owned,held
in trust or on commission or for which he is responsible following burglary or housebreaking accompanied by actual forcible entry into or exit from premises.

Goods in transit
-This class of insurance is to provide indemnity against loss of or damage to the property insured (owned or for which he is legally responsible) caused by accident,theft,collsion,overturning or to the conveying vehicle(s).

Plant All Risk
– the plant all risk cover is basically for fire and accident damage to the insured plants including theft and burglary.

Fidelity guarantee
-Fidelity guarantee policy is designed to protect the insured for loss of cash or property against dis-honesty or fradulent activities of empolyees.

Money insurance
-this policy provides indenmity for loss of or damage to money which is defined as including cash,bank or currency notes,cheques,postal and money orders,postages stamps and  luncheon vouchers within outside the premises.

Personal accident and group personal accident insurance
-This policies indemnify the insured persons for death, permanent disability, temporary total disablement or medical expenses,  following an accident causing bodily injury solely by violent accidental and visible means.

Electronic equipment
This insurance is an accident insurance on an all risks basis covering sudden and unforseen losses which materially affect the subject matter insured.this is known as the material damage.

Public liability
-Public liability insurance is designed to protect the insured against accidental loss of or damage to third party property or bodily injury (including)death of or illness to members of the public in connection with the insured’s business.

Performance Bond:

– This is a guarantee of good performance, because the suerty becomes liable only when the contract is not properly completed or when the contract is not done at all.

Bid Bond:

– This type of bond is issued in respect of tenders for contract with public or private  institutions where contract for a project is about to be awarded to bidding contractors. 

Custom and excise bond indemnifying the revenue of loss arising from improper use of dutiable articles or goods and or the non payment of duties thereof.

This provide cover to ship and cargo owners against fortuitous loss and liability arising out of risks associated with a marine adventure.
The following covers are avaliable:

  • Hull- covers damage to ship and her equipment(both during construction and later while operating) as well as 3/4- collision liability.
  • Cargo- covers damage to goods carried on board a ship , as well as prior to loading and after discharge and inter-modal carriage.
  • Freight- covers the earnings of the freight and is effected by the person entitled to the freight i.e owner/chatterer.