- Professional Indemnity
The Professional Indemnity covers industrial professionals such as medical practitioners, lawyers, journalists’ engineers, architects, auditors and any other profession that is prone to legal action arising out of negligence, financial disputes or loss of life, loss of documents.
It is not a shield or protection from any wrongdoing. A client may decide to sue you legally out of sheer dissatisfaction with your services. A professional indemnity comes in handy when you need to defend yourself in a court of law.
Scope of cover
i) court awards/judgment
ii) self-defense costs
iii) loss of documents
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2. Contractors/ Erection All Risks
Contractors’ All Risks Policy covers any type of construction activities in a demarcated area.
Construction attracts huge risks that may damage property. This policy provides comprehensive protection against several types of civil risks namely;
- Fire, natural calamities, explosion, aircraft damage
- Industrial strike, malicious acts such as riots
- Burglary and theft
- Collapse, damage due to unforeseen objects, impact damage
Erection All Risks Covers:-
i). Material Damage
Physical loss, damage or destruction of property whilst in the course of installation subject to contract exclusions.
ii). Contractor’s Plant and Machinery Section
Covers movable plant and machinery owned or leased and used on site for regular site construction works, maintenance & repair jobs or even regular site work.
iii). Third-Party Liability
Covers legal liability on the insured contractor as a result of property damage or bodily injury suffered by a third parties.
Duration of Policy
The cover commences from the time it is paid for or when work begins on site, whichever is earlier, and expires as specified in the contract Policy document including the maintenance period.
3. Fidelity Guarantee Insurance
Fidelity Guarantee covers the insured (employer) against direct financial loss, loss of stock resulting from acts of fraudulence by an employee during their employment period.
4. Public Liability
Business owners require general liability insurance to cover legal liabilities due to accident, injuries and claims arising out of negligence to third parties. These policies protect against payments as the result of bodily injury, property damage, medical expenses, the cost of defending lawsuits. It is usually given with limit any one event and any one period of insurance.
This policy can be extended to cover Products liability where required.
5. All Risks Policy
This policy covers loss or damage to the property caused by theft, fire, or any Accidental damage included in the contract.
It is suitable for personal items such as Electronic equipment, mobile devices and accessories, cameras, laptops, jewelry, and any other valuable items. The insurance cover does not restrict the movement of items since most of these are portable equipment. However, some policies provide territorial restrictions.