General Accident Insurance

Scope of Cover

These policies generally covers unforeseen, accidental and sudden loss of or damage to property and injury/death to persons. There are 4 classes of General Accident Policies:

  • Property insurance
  • Insurance of the person
  • Pecuniary insurance
  • Liability insurance

Our General Accident Policies Classes

Scope of Cover

This policy covers risks occasioned by or arising out of breaking-in, burglary, and theft and related acts of thievery or stealing provided that proof of forcible and violent entry can be established.

Assets Covered

Same as covered on Fire and Special Perils except buildings.

 

Scope of Cover

This policy has a very wide scope of cover and is specifically tailored to suit protection of portable and valuable items such as laptop computers, cameras, etc that the company may acquire for use by staff.

The attraction of the policy stem from the fact that covers will operate wherever (anywhere in Nigeria) the item is lost or damaged. The policy covers practically all risks with certain exclusions such as electrical or mechanical derangement or defect. To quote for the premium payable, we require the following information for this aspect of insurance:

  • Make and type of the item to be covered
  • Value of the item 

Scope of Cover

This policy provides cover against loss of money through theft, fire and other causes whilst in transit, in a locked safe or on a stated premises.

Please note that the policy excludes:

  • Shortages due to error or omission
  • Loss due to the use of counterfeit money
  • Loss due to depreciation in value of money


Underwriting Factors

  1. Nature of Business
  2. Limit per carriage
  3. Estimated Annual Carriage
  4. Method of conveyance and protection
  5. Risk location – No of branches
  6. Category and number of Employees usually involved in Cash transit

 

Please note that there is a difference between Money in Transit and Cash in Transit. Whilst Cash in Transit is just cash as specified, Money is more extensive and may include cash, cheque, bank and currency note, postal or money orders, stamps and luncheon vouchers etc.

This policy covers the goods of the insured against fire, theft or accidental damage while the goods are being loaded or unloaded, as well as, while the goods are in transit or whilst temporarily housed within the general course of transit.

Types of Cover:

  1. All Risk
  2. Restricted Cover


Whilst All Risk cover indemnifies the Insured against any accident or misfortune whilst the goods are in transit, temporarily garaged including loading and unloading risk, Restricted covers losses or damages occasioned by:

  • Fire
  • Accidental Collision or overturning of vehicle
  • Loss by theft only following accidental collision or overturning of the conveying vehicle

To quote for the premium payable, the type of cover taken is a major determinant, other factors to consider are:

  • Limit Per carrying
  • Estimated Annual Carrying
  • Type of goods to be transited
  • Means of conveyance i.e Owned or Hired Vehicle
  • Packaging

Scope of Cover

This policy covers any unforeseen and sudden physical loss or damage from causes such as defects in casting and materials, Faulty design, Faults at workshop or in erection, Bad workmanship, Lack of skill/carelessness, Shortage of water in boilers, Physical explosion, Tearing apart on account of centrifugal force short-circuit, storm and any other cause not specifically excluded.

Scope of Cover

The term Electronic Equipment is used for all systems which generally requires very low voltage and power which means these equipment’s are quiet in their operation. The policy covers accidental, unforeseen and sudden physical loss or damage that could result while any computer and or equipment insured is working or at rest.

Assets Covered

  • Computer and allied peripherals
  • Auxilliary equipments like UPS, Voltage Stabilizer etc.
  • Medical, Biomedical, Equipments e.g. Cath Lab, X‐ray Machine, Ultrasound machines, MRI, CAT scan Machines
  • Audio/Visual equipments e.g Powered Speakers, Wireless Microphones, Microphone Mixers
  • Telecommunication and navigational equipments

 

Scope of Cover:

This policy protects the employer who is the insured for the loss of money or property sustained as a direct result of fraud, theft or dishonesty by an employee in the course of employment.

The policy protects the insured’s business from financial losses in the event of a breach of trust by an employee. Such financial loss might be in the form of forgery, embezzlement, larceny or fraud/dishonesty or fraudulent appropriation of the employer’s property by the guaranteed employee.

Employees that readily come to mind are Cashiers, Accountants, Store keepers, Stock brokers, Salesmen etc.

Policy excludes:

  • Losses such as stock taking shortages, trading losses
  • Loss by an act committed subsequent to an earlier act of dishonesty

Underwriting Considerations

  1. Limit Anyone loss
  2. Aggregate limit anyone period
  3. Annual Turnover
  4. Character Reference

Provides cover for the legal liability of the Insured for loss or damage to third party property or injury arising in connection with the business insured.

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Why Choose Guinea Insurance

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Partnership

It's not just business; it's a partnership

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Custom-Centric

We nurse a keen interest in providing value

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Longevity

Our decades of experience shows our resilience

Our Products

Our Products are tailored to meet the numerous needs of our clients, both as individuals and corporate organisations. We provide cover options that are rich and robust enough to accomodate virtually all eventualities.

Home Shield Insurance

This insurance policy is suitable for every individual who is exposed to the risk of theft burglary and house breaking which must be as a result of forceful or violent entry or exit from the premises.

Comprehensive Motor Insurance

Our Motor Insurance covers are in the Private Motor, Commercial Motor, Motor Cycle. Our Policy covers the Insured against loss or damage arising from Accidental collision or damage to your vehicle, etc

Fire Insurance

The Policy covers accidental and unintentional loss or damage to property(s) and their contents, arising from the dangers of fire

Marine Cargo Insurance

This insurance policy is suitable for every individual/business with an aim to protect against loss of or damage to crops or livestock.

Latest Financial Reports

Late Filling Of Audited Financial Statements For Year Ended 2019

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Unaudited Account As At September 2019

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2018 Guniea Insurance Annual Report

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2018 Guniea Insurance Annual Report

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Verify your Insurance policy status on NIID

Our customers can now simply visit the E-Insurance platform to complete their Insurance process

This policy covers bodily injury solely and independently of any other cause by accidental, violent, external and visible means resulting in death or permanent disablement or temporary total disablement as well as medical expenses. It is a policy which assures you of cover in the event of an accident.

This cover provides compensation to individuals or groups (Clubs, Families or Companies, in which instance is known as a Group Personal Accident cover.

The policy provides a worldwide cover on 24 hours basis and benefits payable in respect of Death and Permanent Disability are usually expressed as multiple of salaries.

Scope of Cover:

Accidental Death: Payment of a lump sum in the event of death resulting from accident

Accidental Personal total Disability: Payment of a lump sum in the event that the insured person is unable to engage in his/her usual occupation due to accident and there is possibility that the disablement will continue for the remainder of life.

Accidental temporary total disability: Payment of weekly salary for the period of hospitalisation up to a maximum of 104 weeks

Accidental medical expenses: Reimbursement of medical expenses resulting from hospitalisation due to an accident.

Please note that death or injuries from natural causes are however not covered.

Requirement

To enable us compute premium payable for a Group Personal Accident, we require the following information:

  • Total Number of People / Employees
  • Proposed Amount of Cover / Estimated Annual Salaries
  • Multiple of Amount / Salary required for Death or Permanent Disability
  • Limit per capita for Medical Expenses
Experience Great Smiles, Well-Being and Confidence.
We are your strong backup and dependable ally.
Click to learn more
House Insurance
Be protected from loss or damage and acts of vandalism..
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Previous
Next

Why Choose Guinea Insurance

ConferenceA solid styled icon from Orion Icon Library.

Partnership

It's not just business; it's a partnership

ChartA solid styled icon from Orion Icon Library.

Custom-Centric

We nurse a keen interest in providing value

Herbal MedicineA solid styled icon from Orion Icon Library.

Longevity

Our decades of experience shows our resilience

Our Products

Our Products are tailored to meet the numerous needs of our clients, both as individuals and corporate organisations. We provide cover options that are rich and robust enough to accomodate virtually all eventualities.

Home Shield Insurance

This insurance policy is suitable for every individual who is exposed to the risk of theft burglary and house breaking which must be as a result of forceful or violent entry or exit from the premises.

Comprehensive Motor Insurance

Our Motor Insurance covers are in the Private Motor, Commercial Motor, Motor Cycle. Our Policy covers the Insured against loss or damage arising from Accidental collision or damage to your vehicle, etc

Fire Insurance

The Policy covers accidental and unintentional loss or damage to property(s) and their contents, arising from the dangers of fire

Marine Cargo Insurance

This insurance policy is suitable for every individual/business with an aim to protect against loss of or damage to crops or livestock.

Latest Financial Reports

Late Filling Of Audited Financial Statements For Year Ended 2019

DOWNLOAD

Unaudited Account As At September 2019

DOWNLOAD

2018 Guniea Insurance Annual Report

DOWNLOAD

2018 Guniea Insurance Annual Report

DOWNLOAD

Verify your Insurance policy status on NIID

Our customers can now simply visit the E-Insurance platform to complete their Insurance process

Start Today to Secure Your Future

We have products to help you protect various aspects of your life from personal needs to your business needs. Get a quote or learn more.

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.

Contact

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