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Workmen's Compensation
Professional Indemnity Insurance
Consequential Loss Insurance
Fire and Allied Perils Insurance
Bonds Insurance
Money Insurance
All risk Insurance
Computer/ Electronics Insurance
Goods in Transit Insurance
Machinery Breakdown Insurance
Public/ Product Liability Insurance
Contractors ALL-Risk Insurance
Fidelity Guarantee Insurance
Select a Business Class Insurance Product to view.
Workmen's Compensation
This policy is a legal requirement for every employer. It insures against the risk of injury or death of an employee in the course of duty.
This cover is designed to pay benefit to the injured employee or the employee's beneficiary. The amount payable is based on the employee's salary calculated over a period of time.
Where an injury results in permanent total incapacity of such a nature that the injured workman must need the constant assistance and care, an additional amount in compensation shall be paid.
This policy serves to greatly enhance the welfare and security of employees, giving them the confidence to give 100% to their job, without untoward thought of personal injury. It also saves the employer from unforeseen and possibly costly benefits payments to employees.
Professional Indemnity Insurance
This policy indemnifies the insured in respect of his legal liability to third parties as a result of his professional negligence or misconduct claimants costs and other costs incurred with written consent of insurer are recoverable. It is designed for Professionals such as Accountants, Lawyers, Doctors, Brokers, etc.
Consequential Loss Insurance
This is a product developed by SA Insurance to compensate clients who suffer losses as a result of Fire and Allied Perils. As every organization knows, other losses are incurred after such an event, namely loss of income, added operating costs and employee payroll even when the business has been closed for repairs. The policy provides cover so that these reasonable expenses can still be met.
Fire and Allied Perils Insurance
The devastating effect which a fire can have on a company's assets such as its buildings, plants, machinery and equipment etc., calls for Comprehensive Fire Insurance. This policy provides indemnity against loss or material damage to properties occasioned by fire.
The rate of premium charged is in direct proportion to the risk and value of assets. The object of fire insurance is to repair or replace property damaged or destroyed; or to compensate the insured for such a loss. This ensures that such devastation does not have a lasting effect on you or your company.
Bonds Insurance
A person or corporate body placing a contract requires protection against failure of the contractor to carry out his obligation as specified in terms of the contract. The insurance bond is the most common method of protection.
The insurance bond is an undertaking by the insurer to accept responsibility for performance of the contractual obligation.
Types of Bonds:
- Performance Bond
- Advance Payment Bond
- Tender for Bid Bond
- Customs Bond
- Credit Bond
- Supply Bond
- Counter indemnity/Guarantee Bond
Money Insurance
This policy indemnifies the insured against the loss of money while in transit from the insured's premises during business hours, and/or money in a securely locked safe or strong room at the insured's premises. This policy is highly recommended to any company which deals with a large amount of cash regularly, as it gives you peace of mind especially when transporting cash from one location to another.
All Risk Insurance
This policy insures assets which are extremely valuable and require cover beyond the normal scope of Fire and Burglary policies. This policy also covers the insured against accidental breakage and petty theft of the items.
Computer/ Electronics Insurance
This policy covers loss or damage to the insured's equipment from accidental causes while situated at the specified premises. The policy may be extended to cover consequential loss of revenue or additional expenditure i.e. extra costs of renting alternative computer facilities if yours is damaged, as well as the cost of retrieving lost data.
Goods in Transit Insurance
This policy is aimed at business organizations that regularly move assets from one location to another within the country. Due to the high level of risk involved in transporting goods across the country, it has become imperative for organizations to undertake this policy in order to secure themselves against loss/damage to their goods.
The basic cover provides an indemnity against accidental loss or damage to goods whilst in transit anywhere within Nigeria. The goods covered would comprise raw materials and finished goods used in all your product lines:
- Goods on insured's own vehicles with a sum insured specified for each vehicle.
- Goods dispatched by the insured's own vehicles either by road haulage, rail and post subject to a limit of any one consignment.
Machinery Breakdown Insurance
This policy is aimed at individuals or organizations wishing to insure against sudden and unforeseen damage to the machinery from such causes as faulty materials construction or erection, vibration, maladjustment, misalignment, defective lubrication, loosening of parts, abnormal stress, fatigue, self heating, centrifugal force and excessive electrical pressure. The sums insured are based on the current replacement values of the insured items including installation costs and customs duty, where applicable.
Public/Product Liability Insurance
This policy provides indemnity in respect of the legal liability of the insured for accidental bodily injuries and accidental damage to the property of members of the public caused by the insured or his employees in the course of their work, or by defects in the premises, ways, works, machinery or plant. Product Liability which is often treated as an extension to public liability covers the Insured's legal liability for bodily injury or loss or damage to property caused by the Insured's products or goods bodily injury and/or damage to property arising during the currency of the policy through defects in the commodities, or goods sold, supplied, serviced or processed by or on behalf of the insured or arising through defects in the containers of the goods or the wrong labeling thereof.
Contractors/All Risks Insurance
This policy offers comprehensive protection against loss or damage in respect of contract work, construction plant and equipment and/or construction machinery. The policy may also be extended. to provide protection against third party legal liabilities.
Fidelity Guarantee Insurance
All organizations at one time or another may suffer loss as a result of fraudulent activities, whether by employees, or external persons. This policy seeks to counteract the effects of such activities by guaranteeing the replacement/repair of affected assets as a result of larceny, embezzlement or misappropriation. Premiums are based on the value of assets to be insured. This policy is highly recommended for all organizations, as the cost of such dishonest activities can be extremely high. SA Insurance can help reduce the financial burden on your company and leave you free to deal with your business as usual.
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