GOODS IN TRANSIT
This is a policy that covers the insured against loss or damage of goods being transported from one location to another through risks like theft or accidents arising from the insured’s negligence.
WIBA/GROUP PERSONAL ACCIDENT (GPA)
These policies provide the insured with cover against any accidental injury and or death as a result of the insured risks either occupational or non-occupational. WIBA is a mandatory policy to all employees while GPA is open to either individuals or groups within the age bracket up to 65 years. The resultant compensation is usually payable to the insured or to their legitimate next of kin(s) as per the policy. Please consult Waumini Insurance Brokers for a quote regarding WIBA and or Personal Accident.
CONTRACTORS ALL RISKS
The policy protects the Contractor against third party liabilities for Injuries and property damage during the period of the construction.
EMPLOYERS LIABILITY
Every employer is legally obligated to ensure the safety and conducive working environment for their employees under the Common Law. However, a blanket of uncertainty prevails as to the nature of probable risks in the working space and the magnitude of adverse outcomes they might pose to the employer on the basis of perceived negligence. N/B All employees reserves the right to seek legal redress against their employer for negligence irrespective of having been compensated under the WIBA Act.
Thus, the Employer’s Liability policy offers protection to the employer against any resultant costs of compensating claims lodged by their employees in the event of illnesses, injury or death sustained in their course of duty. Moreover, this policy reimburses the insured the incurred expenses in the event of a lawsuit defence.
MONEY INSURANCE AND FIDELITY GUARANTEE
Money determines much of your endeavours’ value and thus, you should seek to keep it safe and secure. With our Financial Insurance solutions, we provide you with customized coverages that will enable you to withstand a financial loss that would cripple your financial status.
Money deemed to include cash, currency notes, postage, revenue and NHIF Stamps, postal and money orders, uncrossed and bearer cheques. With Financial Insurance, the covers are two-fold namely;
i. Fidelity Guarantee Insurance:
A Fidelity Guarantee policy indemnifies the employer against all direct pecuniary loss, which the employer may sustain by any act of fraud or dishonesty committed by any insured employee. It usually insures a business for losses caused by the dishonest acts of its employees.
ii. Money Insurance
Money Insurance covers “Money” carried by the Insured or the authorized employees / messengers while in transit. Money that has not been disbursed and has been retained in a safe is also covered. Money means and includes cash, bank drafts, currency notes, treasury totes, cheques, postal orders and current postage stamps. The policy covers:
loss of money in transit, by the Insured or the Insured’s authorized employee(s), occasioned by robbery, theft or any other fortuitous cause.
loss of money in safe, e, by burglary, housebreaking, robbery or hold-up, provided always that the limit of the Company’s liability for any one loss shall in no case exceed the amount specified against any respective section in the said Schedule to the Policy.
PUBLIC LIABILITY
Public Liability policy covers the insured against legal liabilities in the event of members of the public suffering personal injuries or property damages as a result of the insured’s operations. This policy forms an integral part of organizations or businesses with frequent interactions with customers and the general public at large. The insured is covered against the resultant legal expenses and compensation costs for property damage, bodily injury and or medical expenses of the claimants.
Coverage is usually given with specific limits as advised by the policy holder. Equally important, the Public Liability cover is open to extension to include Products Liability if such need exists.