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Unic Insurance is Innovative - Osipitan

  
Unic Insurance Paid over N2b as claims in 3 years Already paid over N140m in ‘06  
 
 
PERSONAL ACCIDENT (GROUP)

This policy provides for payment of a certain specified sums in the event of accident to the insured persons

DEATH

A capital sum payable provided death occurs within twelve months of the date of the accident to the legal personal representative of the deceased or to the insured or principal who effected insurance on the life of the deceased.
PERMANENT DISABLEMENT

Regarding total paralysis or injuries resulting in being permanently bedridden and any other injury causing total disablement.
MEDICAL EXPENSES

Reimbursement up to the amount specified in respect of reasonable medical, surgical, hospital, Nursing home fees or charges necessarily incurred within twelve (12) months of the date of the accident.  The medical expenses limit to be covered is to be selected by the insured.

The conventional market practice is for benefit under (a) and (b) to be arranged in multiples of annual salary e.g. 5 times annual salary for death and permanent disablement.  The advantage of this is that the benefit is self-adjusting and current at all times as salaries get reviewed.  Although a higher level of benefit can be selected by you for (a) and (b).

We would need to know the total number of employees involved in their occupational split and their estimated wages/salaries.

COMPUTER/ELECTRONIC INSURANCE

Provides cover against all risks of physical loss to computer/electronics and periphery equipment thus:-

Section A1
Provides cover against sudden and    unforeseen damage.

   
Section A2 Provides cover against breakdown.
Section B1 
Provides cover against consequential loss, e.g. Computer Bureau Costs, Loss of Gross Profit, Over-time Payment and costs of extra clerical staff.
Section B2 Provides cover against cost of reinstating data into data carrying media.
   

PLANT ALL RISKS INSURANCE

This policy covers loss or damage to the insured machinery whilst at the situation from any cause outside the machinery including fire, explosion, impact damage, etc subject to policy exceptions.

A list of all plant to be insured and their values will be required.

MOTOR INSURANCE (PRIVATE AND COMMERCIAL)

Third Party Only: Covers damage to the property and/bodily injury to third party.
Comprehensive Covers third party liability (as above) and damage to the insured’s vehicle.  Full details of vehicles to be covered, e.g., registration number, engine and chassis number, type, values would be required.

MARINE CARGO INSURANCE

This policy provides an all risks cover for goods whilst in transit from the port of shipment to the port of discharge and thereafter to the final warehouse subject to policy exceptions.

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