Fire and Alied Perils Insurance

The devastating effect, which a fire can have on your assets such as its Buildings, Plant, and Equipment etc., calls for comprehensive Fire insurance. This policy provides indemnity against Loss or material damage to properties occasioned by fire. The rate of premium, which is charged, is in direct proportion to the risk in question and the objective of fire insurance is to reinstate or replace property damaged or destroyed; or to compensate the insured for such a loss. This ensures that the organisation is placed in the same financial position after a loss as it occupied immediately before it. As professional brokers, we ensure that you obtain the best available cover at the most competitive premium. This policy can be arranged in dual currency and all the related special perils and their extensions would be granted.

Burglary and HouseBreaking

Money and valuable items often disappear from buildings following raids by armed robbers. Despite all tight security arrangements, the armed robbers still appear to have their ways. The increasing incident of major thefts to sophisticated robberies by armed gangs is a pointer that there is hardly a business premise that could be described as immune to these attacks. Burglary insurance, therefore, is a form of protection to reimburse an insured for losses and damage sustained through burglary and theft. To minimize possible loss flowing from this source, burglary insurance should be effected on property which can actually be stolen or which could be damaged by thieves in an attempt at theft. Contents are usually insured against loss from theft provided there has been forcible and violent entry to or exit from the insured premises. The cover includes damage to building from which the insured is responsible resulting from the theft. We should point out here that theft by insured's employee is not included within the scope of cover, as it is the subject of Fidelity Guarantee Insurance.

Contractors All Risk Insurance

This insurance is specifically designed to give financial protection to the civil engineering contractor in the event of an accident to the civil engineering works under construction.

SCOPE OF COVER
✓ The perils cover include; fire, theft, floods, earthquake and any unforeseen and accidental damage to the contact works and materials being used for the work by any cause other than those specifically excluded in the policy.
✓ The policy is also extended to cover the contractors’ (insured) plant and machinery at site.
✓ The policy is also extended to cover the contractors’ (insured) liability to members of the public (third party) for death, injuries or damage to their property arising out of the contractors’ negligence.

Householders Comprehensive Policy

This form of policy is tailored to the needs of individuals and can be taken out by corporate bodies for the benefit of their specific employees especially the executive management. The policy's scope of cover of is very wide and it includes all the range of perils highlighted under the Fire/Extraneous perils policy above as well as loss of damage resulting from Theft. It also provides, as an option, a personal liability cover of up to N200,000.00 in respect of each individual whose property is covered under the policy. Items usually covered under the policy are as follows:
✓ Personal Effects
✓ Jewellery and Precious Articles
We will also require your advice on the replacement cost of the above items to enable us quote.

Burglary/Housebreaking Policy

This type of policy is designed to indemnify the insured against loss or damage resulting from theft or attempted theft, which is accompanied with actual forcible or violent entry into or out of the premises or any attempts thereat. The items usually covered under this policy are similar to those under the Fire/Extraneous Perils policy in (10 above with the exception of Buildings and Loss of Rent. The replacement cost of the relative items would have to be supplied to enable us submit our quotation.

Fidelity Guarantee Policy

This is a form of policy that protects an organization against loss of money or valuable stock as a result of dishonesty or fraudulent activity of employees. It is possible to grant cover on named basis, position basis or on a blanket basis. In any of these cases, the number of persons and the limit of guarantee in a given year. Once we have this information, we would be in apposition to quote for premium payable.

Public Liability Policy

This policy also covers the insured against legal liability to third party for cost and expenses incurred in respect of accidental death, bodily injury and accidental damage to property occurring within the insured's premises or at a work-away premises. The vicarious liability of the insured's employee can also be covered provided it arose in the course of carrying out his official duties. Please indicate the limit of cover required to enable us advise the premium payable.

Group Life Assurance

All employers of labour is mandated by the Pension Act 2004 to have in place Life assurance policy covering the life of all employees working in the organization to the amount of three (3) times total annual salary of the employees. Group life assurance is a valuable employees benefits provided for the loved one of an employee who dies whilst in service and covered by the insurance.

The benefit to the employer who has this policy in place is that it is more competitive compare to other employer in the same industry and it is an attractive benefits package to recruit and keep the right staff. It gives the employees peace of mind that at their death their beneficiaries are assured of a lump sum benefit. Information needed to generate premium for this scheme.

✓ Names of eligible employees
✓ Date of birth or age next birthday
✓ Annual Total Emolument (basic Salary, Housing allowance and Transport allowance)
✓ Death Benefit required (Minimum of 3 times of Total Emolument, it could be more)

Money Policy

This is another type of All Risks policy, which is designed to cover any fortuitous event that should result in the loss of cash while in the course of transit either to or from the bank. The cover will also operate while the money is on the premises of the insured and while in a securely locked safe. The policy can also be extended to cover cash in the personal custody of selected management staff. For underwriting purposes, we require the following information: Limit of money to be carried in any single transit Estimated Amount to be carried in any one year Limit of cash to be kept in securely locked safe Limit of cash in personal custody of designated management staff

Goods in Transit Policy

This is also an "All Risks" policy covering goods being carried from one location to another. Any loss not specially excluded under the policy is covered and the insurance is suitable for any organization that is engaged in movement of goods either by road or rail and the cover will operate when the goods are being conveyed by owner's vehicle or hired vehicle. Losses arising from Fire and Theft are covered under this policy. For underwriting purposes, we will require the following information to enable us submit quotations: Nature of Goods Destination of Goods Total value of Consignment Limit Anyone carrying/Vehicle Duration of Cover

Group Personal Accident Policy

This type of policy is designed to foster the welfare of employees as well as reduce the financial strain that an organization could undergo in the event of accident, death or bodily injury to a member of staff. The policy provides a worldwide cover on 24 hours basis and benefits payable in respect of Death and Permanent Disability are usually expressed as multiple of salaries. Cover also extends to pay weekly benefit in the event of temporary total disability resulting from bodily injury to the insured person as well as certain allowance for expenses incurred on medical treatment as a result of accident injury. Death or injuries from natural causes are however not covered. To enable us quote for this policy, we required the following information: Total Number of Employees Estimated Annual Salaries. Multiple of salary required for Death or permanent Disability Limit per capita for medical Expenses The above type of arrangement in effecting cover will be very beneficial to the interest of your organization as you will not be required to advise the insurers of any new members of staff taken on after the commencement of insurance cover. The administrative convenience provided also obviate the embarrassing situation where an employee is injured and found not to be covered by the policy due to oversight in advising the name of employee to the insurance company.

Workmen's Compensation Policy

The workmen's Compensation Decree of 1987 requires all employers of labour to take out this policy for the benefits of workers who may sustain injury resulting into death or disability in the course of their duties. The scale of benefits stipulated by the decree for death and permanent disability are 3.5 and 4.5X annual salary respectively while weekly benefit at the agreed scale is equally payable for a period not exceeding 24 months in the case of temporary total disability. Reasonable medical expenses incurred on treating sustained injury is also covered. The following information will be required to enable us submit quotation: Category of Employees Number in each Category Estimated Annual Earnings

Motor Insurance Policy

This class of insurance is made compulsory by Government through the legislation known as the Motor Vehicle (Third party) Insurance Act of 1945. The Third Party Only which is the minimum type of insurance legislated upon provides indemnity to policy holder against legal liability to Third parties for death, bodily injury and property damage. The most popular type of cover under this policy is comprehensive insurance which, in addition to the cover provided under the Third party Only, will also indemnity the policyholder for loss or damage to the vehicle resulting from road accident, fire and theft. The premium payable for the various forms of cover under this policy is regulated by a statistical table of rate known as "tariff" which is approved by Government. To enable us advise the premium payable in this regard, we will require the following information: A list of the vehicle to be insured showing make, type, cubic capacity year of manufacture and the value. The type of cover required.

Marine Policies

HULL: This type of policy is issued on vessels and yachts to provide indemnity for any loss, damage or liability that may arise from their use. The scope of cover provided is either an "all risks" or "total loss only" while the policy usually carries a deductible of about 10% of the value of the vessel or yacht. To enable us submit quotation for this risk, we require the current inspection report done by a qualified marine engineer on the vessels as well the type of cover required. CARGO: The policy issued here is to provide indemnity for loss or damage to imported goods being conveyed by sea or air. The All Risks type of cover known as Clauses "A" provides indemnity to the insured in the event of total or partial loss of the goods while the restricted cover known as Clauses "C" would provide indemnity in the event of total loss only. To enable us determine the premium payable in this regard, we would require information on the nature and value of goods being imported as well as the type of cover required.

Machinery Breakdown Policy

This policy is designed to cover any damage to a plant or equipment while working or at rest, or being dismantled for the purpose of cleaning, repairing or overhauling. In the same vein, boiler and pressure vessels can be covered under a separate but similar policy. To enable us quote for this risk, we require the following information: Make & Type of Equipment Year of Manufacture Current Replacement value

Electronic Equipment Policy

This policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest. The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such as kept within the premises. The increase in cost of working, as a result of damage to the main computer equipment, is also covered and indemnity is provided for alternative means of carrying on operation. With payment of an additional premium, this policy can be extended to cover the risk of theft. To enable us quote for this risk, we will require the following information; Make & type of Electronic Equipment Current Replacement Value of the item(s) Cost of replacing damaged diskettes and restoring lost data Cost of hiring alternative computer equipment for continuation of operation together with personnel and transportation costs.