Fire and Special Perils:

The object of a fire insurance policy is to provide indemnity for losses or damages sustained by an insured resulting from fire or special perils. Such assets may be Buildings, Office Fixtures, Fittings & Furniture, Plants, Equipment and other stock and consumable.

The basic fire policy covers loss/damage to these items arising from the three basic perils namely:

Fire, Lightning and Explosion (in the case of boilers, explosion cover is limited to boilers used for domestic purposes only)

In addition to the basic perils listed above there are other special or allied perils coverable under a fire policy, such as: Explosion; Storm, Tempest, Flood; Bursting or overflowing of water tanks, apparatus or pipes; Earthquake; Tornado; Impact damage; Riot and strike; Aircraft damage; Bushfire and Malicious damage.

Burglary / Housebreaking (Theft):

This class of insurance offers compensation to the Insured for loss of or damage to insured property following from theft accompanied with forcible or violent entry or exit. It provides compensation for misfortune suffered as a result of theft of any of the insured items.

This cover may include the insurance of the homes of key employees.

Electronic Equipment Insurance

The term “electronic equipment’ comprises, in the context of this insurance, all electrical and electronic systems such as: Electronic Data Processing (EDP) equipment and Communication facilities.

This type of insurance is usually arranged under the following sections:

  • Material damage cover – all risks basis covering sudden and unforeseen losses which physically affect the subject matter insured.
  • Data Media cover – provided on a first loss basis both for the material value of the external data media used in computing facilities and for the costs of processing and restoring lost information.
  • Increased Cost of Working (ICW) cover – If in the event of a breakdown, the required computing facility is hired, then the Increased Cost of Working insurance applies. It covers such expenses as hire charges, transport charges for data media and personnel, expenses for accommodation away from base, night work or work on public holidays and the like.

All Risk Policy

This policy has very wide scope of cover and is specifically tailored to suit protection of portable and valuable items such as laptop computers, cameras, etc. The attraction of the policy stem from the fact that cover will operate wherever the item is lost or damaged. The policy covers practically all risks with certain exclusions such as electrical or mechanical derangement or defect. To enable a premium quote the insurer would be advised of the make and type of the item to be covered as well as the year of manufacture and the current replacement cost.

Plant All Risk Insurance

This policy provides cover in respect of plant and machinery belonging to the insured as a result of unforeseen, sudden, physical loss or damage as a result of fire, theft and impact damage.

Public/ General Third Party Liability

This type of insurance provides compensation to the insured against all sums which the insured shall become legally liable to pay in respect of:

(a) Accidental bodily injury to any person (whether or not death results)

(b) Accidental loss of or damage to property Such liability may occur during construction of Buildings, Roads, Oil Installations, Laying of Pipes, take off and landing etc and other activities in connection with your Business operations.

This cover will indemnify the insured of:

(a) All legal costs recoverable by any claimant from the Insured and

(b) All costs and expenses incurred with the written consent of the Company.

Fidelity Guaranty Insurance

Fidelity Guaranty Insurance provides for loss incurred following dishonesty, fraudulent conversion of money, embezzlement etc of the insured staff. The kind of staff to be insured here include, Accountants, Distribution Managers and any staff that handles cash on your behalf

Professional Indemnity Insurance

Professional Indemnity insurance is designed for professionals who provide advice or a service to their customers. It is designed to protect professional organizations/individuals against legal costs and claims for damages to third parties which may arise out of an act, omission or breach of professional duty in the course of business.

If a mistake or omission occurs in the course of work that results in financial loss or injury to a third party, which is a customer, a legal action against an organization/individual may arise to recover their losses. Professional Indemnity insurance seeks to protect both an insured’s assets and reputation, should this occur.

Product Liability Insurance

A business may be held legally responsible for injuries to people or damage to property caused by a faulty product. Product liability insurance covers the cost of compensating anyone who is injured by a faulty product that an insured business designs, manufactures or supplies.

Construction All Risk Insurance

This policy shall cover the contract works against any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded, necessitating repair or replacement during the period of construction as well as testing and commissioning phase.

It can be extended to include construction plant equipment and machinery including clearance of debris and damage to surrounding property

Goods In Transit Insurance Policy (GIT)

This policy seeks to compensate the insured for loss or damage to stocks, goods whilst in transit from one location to another but within Nigeria.

Information Required for Quotation:

  • Whether Vehicle(s) is owned by insured or hired
  • Estimated Annual Carrying
  • Limit Per Carrying/Per Truck/Per Trailer
  • Nature Goods to be carried


This provides guarantee/security to a client/principal in respect of the insured’s obligations, regarding the execution of contracts awarded to your company under the contract.

Some of the popular types available are

1. Performance bond

2. Advance performance bond

3. Bid bond

4. Custom bond


a) Letter of Award of contract

b) Evidence of past performance

c) Passport photographs of two Directors

d) Collateral in form of landed property or share certificates of blue chip companies.

e) Copy of Memorandum of Understanding

f) Article of Association of the Company

g) Three (Consecutive) years Audited Report

Motor Insurance (Comprehensive Motor Insurance for vehicles)

This class of Insurance provides compensation for loss or damage to vehicles resulting from Accident and theft and also compensation for all liabilities to Third parties. The traditional Motor Insurance policy excludes losses resulting from Riot, Strike and Civil

Commotion. However, this could be arranged to include these perils for cars of specific values. The policy can also be arranged to provide an insured with a replacement car whilst the insured vehicle is being repaired in the event of an accident.