Erection All Risk Insurance

This is specially designed to provide compensation to the insured for any unforeseen loss or damage at the erection site during the installation and erection of plant, machinery and equipment.

This cover is usually effective from the inception of work or off-loading of materials on site until successful testing and commissioning of the machinery, equipment or plant. It provides similar cover like Contractor’s All Risk (CAR) Insurance policy against unforeseen and sudden physical loss or damage from any cause whatsoever, other than those specifically excluded. The insurance also includes a Third Party Liability cover against legal liability for damages as a consequence of the performance of the contract.

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Guinea Insurance Company Limited became operative from December 3, 1958. The Overseas shareholders held 51% majority shares before the indigenization decree of 1976, reversed the holding to 60% Nigerian interest, 40% overseas.

The Overseas Shareholders divested their 40% holding to existing Nigerian Shareholders in 1988 thereby making the Company 100% Nigerian.

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Guinea Insurance House
33 Ikorodu Road Jibowu, Lagos.

Copyright © 2020 Guinea Insurance Company Limited RC1808. Authorised & Regulated by the National Insurance Commission RIC N0. - 017