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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  
 
OIL AND ENERGY INSURANCE

This policy covers all risks of physical loss and destruction to the insured properties (including Legal liability arising thereof) to the properties of the insured or arising out of the insureds operations (including their agents). Properties covered under this policy would include the following:-

Oil Rigs and Platforms
Pipe Lines
Flow Stations
Gas Terminals
Farm Tanks
Operators Extra Expenses
Cost of Controlling Well Fire
Cost of Redrilling
Oil Seepage and Pollution (Clean Up cost and Third Part Liabilities)
Cryogenic Vessels – Hull
Employee Properties/Welfare Policies
Employer Liabilities
Extra Cover as desired by the Operator.

WORKMEN’S COMPENSATION INSURANCE

The Workmen’s Compensation Decree 1987 provides that employers must pay full compensation to all employees injured in the course of their employment (Occupational Accidents).  Benefits are significantly high and therefore a lot of financial outlay is required in the absence of insurance.

Our Workmen’s Compensation Policy covers your liabilities to pay such compensation to all employees.  A proposal for insurance must include all employees (both senior and junior staff) split into their respective occupational groups, e.g. Clerical, Administrative Staff, Security, etc, with an indication of total estimated wages/salaries for each group.

GOODS-IN-TRANSIT INSURANCE

This policy indemnifies the insured for loss or damage by any accident or misfortune whilst the property insured is in transit as described in the schedule or whilst in the course of loading on to or unloading from the conveyance or whilst temporarily housed in the ordinary course of transit subject to the policy terms, conditions and exceptions. However, a restricted cover can be granted to cover:
Loss by fire
Loss by accidental collision, impact or overturning of the conveying vehicle
Loss by theft following accidental collision or overturning of the carrying vehicle conveyance.
   

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.

MACHINERY BREAKDOWN INSURANCE

Provides indemnity in respect of the cost of repairing or replacing insured machinery as a result of breakdown whilst the machinery is:-

Working
At rest
Being dismantled moved or re-erected for the purpose of cleaning, inspection or installation in another position within the situation of the risk.

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