Motor
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage. Motor Policies come under the following covers:
Third Party only
The policy indemnifies you and any permitted driver in respect of your legal liability to third parties for death and bodily injury as well as claims for damage to other persons’ property. The minimum limit for third party property damage at present is GH¢2000, However this can be increased at your request. Bodily injury is unlimited.
Third party, Fire and Theft
In addition to the Third Party cover described above, this policy covers your vehicle against the risks of fire and theft.
Comprehensive
The comprehensive policy will cover all of the risks described above, in addition to accidental damage to your vehicle.
Employers’ Liability
This policy provides indemnity in respect of an employer’s legal liability to his employees for occupational injury or disease. Both the Workmen’s compensation Law of 1987 and the Common Law impose certain legal obligations on employers. Under the act, an employer must pay compensation in accordance with the provisions of the Act where an employee is injured or killed in the course of his employment. The Employers’ Liability policy takes care of the employers’ legal, financial obligation to the employee in such an event.
Assets All Risk
This is a policy designed for corporate clients who want a complete insurance package to cover a wide range of risks. This policy will cover accidental loss or damage to the client’s property or assets arising from a very broad spectrum of causes. The cover is restricted only by the specific exclusions written in the policy. It can be designed to cover Fire, Lightning, Flood, Theft, Malicious Damage, Earthquake, Riots and Strikes, Burst Pipe, Impact, and many others.
Contractors-All Risk
This Policy is a package policy covering all risks to which a construction firm is exposed. Firstly, the policy covers property insured on the project site against any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded. Secondly, it indemnifies you against sums you shall become legally liable to pay as damages consequent upon accidental bodily injury to or illness of third parties and accidental loss of or damage to property belonging to third parties occurring in direct connection with the construction items insured and happening on or in the immediate vicinity of the site.
Goods-In-Transit
This policy indemnifies the insured for loss of or damage to merchandise in transit by caused fire, accident and theft/pilferage following an accident to the carrying vehicle.
Public Liability
Public Liability Policy protects an insured in respect of his legal liability to third parties for both bodily injury including illness and for any loss or damage to property, which happens in connection with the respective insured business.
Professional Indemnity
The Professional Indemnity Policy provides cover for the Insured’s legal liability for financial loss incurred by a third party arising out of the advice given by the Insured in a professional capacity.
Consequential Loss or Business Interruption
This policy covers:
- Net Profit lost as a consequence of the interruption of your business.
- Standing charges which continue to be payable by your business to the extent that they are no longer earned by the residual trading. Wages of the staff that need to be retained during the interruption period.
- In addition, where your business is dependent partly upon the continued existence of the premises of suppliers, customers or other persons or bodies from whom you receive services or facilities, the policy can be extended to cover loss resulting from damage by insured risk at such other premises.
Marine Insurance
Marine policies are for insuring your cargo against all ENGINEs of losses that may occur. This ensures that your investments are safe. This policy may also be taken to cover air cargo and other ENGINEs of freight. There are two main ENGINEs, open covers and single covers. Open covers may be taken by importers whose imports are frequent. Under this arrangement the importer takes one policy to cover all his imports, and makes periodic declarations as and when he makes imports. The single cover may be taken for each import, and is normally suited for those whose imports are not very frequent.
Fidelity Guarantee
The Fidelity Guarantee policy is designed to make good and reimburse the employers’ loss of money due to fraud or the dishonesty of their employees in connection with their employment.
Home Insurance
This policy covers a myriad of perils including fire, lightning, explosion, earthquake, riot and strike, burglary (including armed robbery), civil commotion, impact, Tornado or windstorm, flood, malicious acts, burst pipe, theft and many more.
Products Liability
The Products Liability Policy has been designed to cover the Insured’s’ legal liability for bodily injury to persons or loss of damage to property caused by defects in goods sold, supplied, erected, installed, repaired or manufactured by the insured.
Travel Insurance
This product is designed for anyone intending to travel outside the borders of Ghana. It provides the following benefits: Medical expenses arising from an illness(es), bodily injury and or hospitalisation (costs has an upper ceiling), Repatriation to Ghana after treatment, Repatriation of policyholder’s corpse or ashes to Ghana, Repatriation of child(ren) of policyholder under 16years insured under the same policy, Baggage loss/delay, Personal Accident.
Fire Insurance
This policy covers you against loss by Fire, Lightning and Explosion (arising out of domestic use of gas or a boiler) This Standard cover can be extended to indemnify you against loss or damage to your property caused by any of the following perils;
- Earthquake
- Windstorm
- Flood
- Explosion
- Riot
- Strike
- Civil Commotion
- Bursting or overflowing of water tanks, pressured equipment or pipes
- Malicious Damage
- Impact by road vehicles, animals or Aircraft and other aerial devices or articles dropped there from.
Personal Accident
It provides compensation for those insured against death or injury arising from accidental, violent, external and visible means. A capital sum is payable for death, with lesser sums for loss of limbs or eyesight. A weekly benefit for a specified maximum period is payable for temporary total disablement in addition to medical expenses necessarily incurred as a result of the accident. This Policy unlike the Employers liability policy operates for 24 hours a day, 7 days a week and has a worldwide cover. The Policy is also available for a group.
