Money Insurance

This policy provides indemnity for loss of or damage to money - which is also defined to mean: cash, bank or currency notes, cheques, postal and money order, postage stamps and luncheon vouchers within and outside the premises. The money must be owned by the Insured or held by them in trust or on commission or for which they are responsible, and loss or damage should occur within or outside business hours during the period of insurance.

Features

The policy offers cover against loss of cash/cheques/postal orders/postal stamps: –

  • While in direct transit from the bank to the insured’s premises or to the places of disbursement
  • While in transit from insured’s premises to the bank
  • In the personal custody of the insured or the authorized employees whilst within a period not more than 48 hours from the time of collection
  • Whilst secured in locked safe/strong room in the insured’s premises as a result of burglary, housebreaking, robbery and hold up
  • Loss of money in transit caused by robbery, theft, or any fortuitous events
  • Loss of money from the insured’s safe or strong room caused by theft or robbery
  • Loss of money from the insured’s premises during business hours caused by theft or robbery

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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.

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