Insurance Product Details


This policy covers loss or damage to your property if such property is destroyed or damaged by fire, lighting and explosion during the life of the policy. The policy can be extended to cover special perils like storm, tornado, flood, impact, earthquake burst pipes and overflowing of water apparatus, riot, strike, bush fire, malicious and aircraft damage
Private Dwelling
Business Premises
Items of stock, viz: purchases, materials components, work-in-progress and finished or completed products may also be insured.

Fire Insurance


This policy covers loss or damage to the property insured caused by theft following upon or by or accompanied by actual forcible and violent breaking into or exit from the premises or any attempt thereat. Cover may be arranged in respect of contents in the offices and other moveable properties, viz plants, machineries and tools. Stocks in the form of purchase, materials, components, works in progress and completed or finished product may also be covered.

burglary insurance


The policy covers loss or damage to insured property by whatsoever cause. Items usually covered under this policy include valuable, i.e. jewelry, gold, silver and platinum articles and wristwatches. Moveable items also like laptops, phones and all.


This policy offers protection to employers of labour against loss of money, property, loans and sometimes stock as a result of dishonesty or fraud of their employees in the course of their official duties. Policy may be arranged based on individual employee or collective guarantee to embrace several employees with a separate amount of guarantee in respect of each. Any alteration in terms of addition to or substitution in staff may be affected by necessary endorsement. People usually insured under this policy include Accountants, Cashiers, Managers and Sale Representatives.


This covers private dwelling and household contents. Cover may be for fire only, Fire and a range of limited perils or comprehensive. The cover can be divided into four sections:
1) Building
2) Contents
3) All Risks
4) Personal Liability
There are other optional extensions like personal effects of visitors, interior decorations, and workmen’s compensation in respect of domestic servants. Loss of rents may also be insured following damage by an insured peril.Alternatively, separate policies can be issued on the building or contents or combined in a single document

Household insurance


To be protected against all perils associated with using motor vehicles, you will require Motor Insurance Cover. This can be arranged on a fleet basis where there is more than one vehicle, in which case you will be entitled to 10% discount for private vehicles and 5% discount for commercial vehicles. The premium on comprehensive cover depends on type and use of vehicle and you have a choice to effect cover
a) ‘Act’ only- cover provided within the meaning of the Motor Vehicle Third Party Insurance Act, 1945, i.e. bodily injury to third parties.
b) Third Party – property damage and bodily to third parties.
c) Third Party, Fire and Theft
d) Comprehensive.
We would recommend ‘Comprehensive Cover’ for all classes of new vehicle. Thereafter, consideration should be given to cover 5 years old vehicles that are in good condition The private vehicles earn ‘No Claims Discount’.

Motor Insurance


Group Personal Accident can be arranged to cover the middle and top management staff as well, for injuries to them. The benefits accrued will be used either to compensate the company, firm or institution for less sustained due to death or absence from work of key personnel or to a temporarily disabled employee or Director with a continuing income during a period of absence from work thereby forming part of the employees’ benefit provided by the firm. Cover is on 24 hours basis and is worldwide excluding communist-controlled countries. In most cases,the selected employees can be covered with benefit related to earnings of different categories of employee
Death or injury by war and kindred risks, riot, civil commotion and insanity, intoxication, willfully self-inflicted injuries and suicide, professional football, polo, mountaineering, hunting, racing (except athletics).


(Commonly referred to as Third Party Liability Insurance). The above policy covers you against your liability to the Third Party as a result of death or injury sustained by him or loss or damage to their property. Such losses could be caused by defects in the building or the machineries. The liabilities usually arise from your negligence or that of your servants. The rate varies in relations to the liabilities and limit of Indemnity chosen.


(Commonly referred to as Third Party Liability Insurance). This is a temporary life assurance offered especially to a collection of employees. The temporary life assurance only provides a capital sum, usually a multiple of salary, if an employee dies while in employment. Under the “Pension Reform Act” that was signed into law in June 2004 by the federal government, employers are required to maintain Life Insurance policies in favor of their employees for a minimum of three (3) times the total emolument of the employee. Employee Emolument is defined in the Act as, “Total sum of basic salary, housing allowance and transportation allowance”.
This policy is for the beneficiary of a member who dies while in Service. The Sum assured is normally a multiple of the member’s annual salary. The advantage of this is for the dependents of an employee to be able to maintain a minimum life style in the event of death in service. The employees do not contribute towards the Group Life benefits, the contribution will be from the employer’s


The policy is an extension of the Public Liability Insurance, but mostly useful to researchers, manufacturers, producers, suppliers, testers of service or goods. It protects the insured against his legal liability to pay compensation or damage to Third Party who sustains bodily injury or loss or damage to their property because of the defective nature of any product sold, supplied, repaired, services or tested by the insured. The damage may be substantial in some cases. A limit of indemnity of N500,000.00 (Five Hundred Thousand Naira) and above is equally recommended.


The above policy covers the employer’s liability against claims for damages brought by employees either under the workmen’s compensation ordinance or at common law, who while serving under a contract of service of apprenticeship sustained death, bodily injuries or illness which arise out of and in the course of employment. Rates chargeable depend upon the types of job each one of your employees is engaged on and this is applied to the total wages per annum for the employees.


This is a comprehensive cover usually for industrial establishments e.g. oil companies or communication industries. The policy usually covers the following various classes of insurance:
(a) Material Damage
This cover accidental damage or physical loss to building, plant & machinery, stock-in-trade and other contents of the insured which could be office equipment.
(b) Electronic Equipment Insurance
This covers loss or damage to the insured’s electronic gadgets either at work or at rest, being dismantled for the purpose of clearing, overhauling or of being shifted within the premises.
(c) Plant All Risk Insurance (including Machinery Breakdown)
This covers accidental loss or damage to plant, boiler, pressure vessel, and explosions or collapse of the insured plant.
(d) Public Liability
This policy indemnifies the insured against all sums which the insured shall become legally liable to pay as damaged in respect of: • Accidental bodily injury, illness or death of any person • Accidental loss or damage to property occurring in connection with the business during the period of insurance and within the geographical limit.

Industrial Insurance


Cash-in-transit to and from the bank for wages lodgments are the target of thieves and armed robbers. Therefore, the insurance of cash-in-transit is very essential. The policy insures money against loss while:
In transit
In a bank night safe
On the proposer’s premises during working hours
In a locked safe or strong room, on the proposer’s out of working hours
Damages safes or strong rooms by thieve
Cover applied anywhere the geographical limits. The premium is calculated on the annual estimated amount of money carried and adjustable at renewals when the actual amount of money carried is advised by the insured.

CIT Insurance


Goods in Transit Insurance can be arranged to cover loss or damage to your goods (including theft and fire) while being transported from one destination to another. The rates charged are based on the estimated annual turnover of your organization. The limit of goods in terms of the amounts per vehicle must be fixed and declaration made on a monthly basis. The premium is calculated on the estimated annual amount of goods carried and is adjustable at renewals, when advised on the actual amount of goods carried. The required additional or return premium is made. Cover applied anywhere within the geographical limits.

GIT Insurance


This policy in effect covers all types of generators, compressors, air conditioning, electrical plants, boiler and pressure vessels, pumps, steam generating sets, and all types of engineering machineries. Under this policy, the insurer will indemnify you in event of accidental and unforeseen physical loss or damage, necessitating repairs or replacement due to defect in faulty design, bad workmanship, shortage of water in boilers, physical explosion, tempest and any other cause, from. It also covers the insured’s machineries during erecting or dismantling for the purpose of overhauling. It is possible to arrange Engineering All Risks Insurance which offers more protection against the main risks arising during construction and erection work.
The policy can be extended to include public liability cover following boiler explosion. A limit of 500,000 in respect of any{one} accident or unlimited amount in one year.

Engineering Insurance


The policy covers loss or damage resulting from any external cause such as fire, explosion, theft storm or flood and covers the risk of almost any form of electrical or mechanical breakdown while the equipment is in use. It also includes Loss of DATA. Materials damage and consequential loss are usually covered under separate sections of the policy. The cost removing damaged equipment and debris following a loss is also covered.


It provides coverage for property damage and third-party injury. By reason of contract conditions, public liability insurance is frequently arranged in conjunction with the contractors’ All Risks cover and this is done by the inclusion of a separate section in the policy.
Contractor’s All Risks Insurance, however essentially relates to the insurance of the contract works but will also cover the Contractors’ plants and equipment and temporary buildings where required. The period of maintenance must be known since the policy can be extended to cover this period. But during that time, the liability under the policy is restricted because the principal has adopted the contract works.


Simply put, this as a written undertaking by the insurers to accept responsibility for the performance of a contractual obligation entered by the contractor in the event of the latter’s default of the principal. There are various types of bonds e.g. Bid Bonds, Advance Payment or Mobilization Bonds, Performance Bonds, Custom Bonds and Excise Duty Bonds, Retention Bonds. The rate depends on the amount of contract awarded. Counter Indemnity would be prepared after the Performance
Advance Payment Bonds
This class of Bond is issued to ensure that job awarded is done in line with the specification stated in the letter of award. In the event of a default, the surety indemnifies the beneficiary up to the tune of the understanding job.
Performance Bonds
This Bond guarantees the owner / principal that his advance payment will be reimbursed to him in case the construction works in not performed.

Bond Insurance


This policy provides cover for professionals, against his legal liability to compensate a third party who has suffered injury or damage as a result of his (The professional) own negligence or that of the employees. Thus, professionals like medical practitioners, lawyers, engineer architects, insurance brokers should take up the cover. As in other liability policies, the intention is to indemnify the injured third party adequately for the loss or damage suffered as a result of the bodily injury or wrong professional advice given by the professional.


It provides insurance cover for the aircraft, the cargo they carry and the operator’s legal liability for damage to Third Party property, death or bodily injury to passengers. A comprehensive Aircraft Insurance Policy covers the following perils.
(a) Loss or damage to the aircraft both while in the air and on the ground as a result of Fire, Burglary or other accidental loss or damages such as collision or over-running,
(b) Loss or damage to the cargo and the aircraft,
(c) Operator’s legal liability on deaths and bodily injuries to passengers.
(d) It also covers pilots or the aircraft operator against death or bodily injuries to Third Party and ground damage to Third Party property.

Aviation Insurance


Oil and gas Insurance provide cover for all the processes involved in both offshore and onshore. These risks include:
Fire as a result of explosion and other perils
Loss as a result of theft and vandalization
Legal liabilities to Third Parties
All risks (equipment and machineries)
Marine Risks etc.
Offshore Risk
The following categories of assets are usually insured under offshore:
a. Offshore platforms
b. Offshore rigs
c. Offshore drillings units
d. Offshore trickiness
e. Land rigs
f. Supplies and consumables
g. Stock of oil and gas
Onshore Risk (Downstream Package Policy)
The following assets are usually insured under Downstream Packaging Policy:
a. Refineries
b. Storage Depots
c. Pipe lines
d. Pumping and metering stations
e. Gas installations.
The cover is affected to cover the company’s legal and contractual liabilities to Third Parties arising out of its operation as an oil and gas refining and distribution organization. You will require Marine Insurance cover for importation of machineries, raw materials, spare parts, equipment either by Sea or Air.

Oil and Gas Insurance