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General
Insurance

Motor

1

Motor Comprehensive Cover

Comprehensive motor insurance is not an obligation in Ethiopia. It covers injury, death or property damage to the insured. Moreover, it also extended to fire, theft, Banda, and gorilla.

2

Compulsory Third Party Cover

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3

Third party fire & Theft Cover

Third party insurance covering injury, death or property damage to third parties is compulsory. This cover is often extended to third party fire and theft or comprehensive cover.

Fire &
Lighting Insurance

Coverage for losses caused by fire and lightning, plus resultant damage caused by smoke and water.

Marine, Inland Transit
& Air Insurance

Covers the loss or damage to ships, cargo, terminals, and any transport or cargo by which the property is transferred, acquired, or held between the points of origin and the final destination

Burglary & House
Breaking Insurance

The insurance covers property belonging or held by the insured contained within the premise. It shall be lost by the theft but only occupied by actual forcible and violent breaking into or out of a building or any attempt or if there shall arise any damage to the property to the premise falling to be borne or which shall be due to any such theft or attempt.

Plate &
Glass Insurance

This policy witness that if any time during the period of insurance the glass belonging to the insured or held in trust or on commission and fitted in the insured’s premises shall be broken or destroyed by any accident or misfortune of fortuitous nature then subject to the terms, exceptions, limitations conditions and endorsement’s contained herein the company shall at its option either

  • Replace the broken or destroyed glass according to the value; or
  • Pay the sum equivalent to the value of or the broken or destroyed glass at the time of the destruction up to but not exceeding the value shown against the item specified in the schedule

All Risk
Insurance

The insurance covers property belonging or held by the insured contained within the premise. It shall be lost by the theft but only occupied by actual forcible and violent breaking into or out of a building or any attempt or if there shall arise any damage to the property to the premise falling to be borne or which shall be due to any such theft or attempt.

Engineering

Contractor’s All Risk Insurance

  • It covers any loss property insured or any part there from any causes except massive damaged accidents like war, invasions, hostilities nuclear activities…
  • It covers shall be extended only within a specified territorial’s limit
  • Any extensions of the periods of insurances are subject of the prior written consent of the policy.

Machinery Breakdown Insurance

  • Cover any unforeseen and sudden physical loss or damage from causes such as defects in casting and material, 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 and storm.

Electronic Equipment Insurance

  • This insurance cover electrical equipment (items) at work or at rest. Scopes of cover include material Damage and Cost of Working.

Boiler & Pressure Vessel Insurance

  • The company will, during the period covered by this policy or any renewal thereof and subject to the exclusion, provisions definitions and condition contained herein or indorsed hereon, indemnify the insured against
  • Damage (other than by fire) to any boiler or pressure vessel described in the schedule hereto to other property of the insured
  • Liability of the insured at law of damage to property not belonging to the insured.
  • Liability of the insured at law on account of fatal or non-fatal injuries to any persons other than the insured’s own employees or workmen or members of the insured’s family.

Erection All Risk (EAR)

  • Cover any unforeseen and sudden physical loss or damage from causes such as defects in casting and material, 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 and storm.

Liability

Public Liability Insurance

  • Cover legal costs and compensation payments if your business is held responsible for injury or property damage to a client, contractor or another member of the public.

Product - liability insurance

  • Covers a manufacturer or supplier against claims for compensation made by purchases of faulty product, and compensation that the insured is legally liable to pay to customers who are killed, injured or have property damaged as a result of the defect.

Professional indemnity

  • Covers a professional against claims for damages resulting from professional negligence.

Carrier liability insurance

  • Pay all sums for which the insured shall become legally liable as compensation for physical loss or destruction of or damage to goods or merchandise, while in transit, including during loading or unloading and while temporarily housed on or off vehicles in the ordinary course of transit.

Workmen Compensation

  • A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence.

Pecuniary

Money Policy( in Safe and in Transit)

  • Money insurance police covers:-
  • Losses of money during transactions with in necessary requirements.
  • Loss or damages of safe or strong room caused burglars or thieves
  • Insured money shall mean cash, bank notes, currency notes, cheques(except crossed cheques ,postal orders, money order current postages, and revenue stamps

Fidelity Guarantee Insurance

  • This insurance cover or grants any acts of fraud or dishonesty shall have been committed by the employee during his or her uninterrupted service in the capacity or not exceeding the agreed amount.

Bonds

Performance bonds

  • If the Contractor shall well and truly and faithfully comply with all terms, covenants and conditions of the Contract, on its part to be kept and performed according to the tenor of the said contract or if on default by the contractor, the Surety shall satisfy and discharge the damage sustained by the Employer thereby up to the sum agreed

Advance payment bond

  • The conditions of the foregoing obligations are such that if the contractor /supplier shall well and truly and faithfully comply with all terms, covenants and conditions of the advance payment, on its part to be kept and performed according to the advance payment agreement or if in default by the contractor/supplier the surety shall satisfy and discharge the demand by the employer/buyer thereby up to the sum agreed.

Supply Bond

  • A supply bond is one of many contract bonds that ensure a supplier will produce the supplies or materials specified in the contract. If the supplier were to default, the bond protects the purchaser from any losses.

Bid Bond

  • A supply bond is one of many contract bonds that ensure a supplier will produce the supplies or materials specified in the contract. If the supplier were to default, the bond protects the purchaser from any losses.

Retention Bond

  • Type of performance bond that protects the customer after a job or project is finished. It guarantees that the contractor will carry out all necessary work to correct structural and/or other defects discovered immediately after completion of the contract, even if full payment has been made to the contractor

GPA

  • Provides cover during the period of insurance for a broad range of specified events including
  • Lump Sum benefits for an injury resulting in death, disablment and loss of body parts
  • Benefits for injury or sickness resulting in surgery
  • Benefits for injury resulting fractured bones or loss of teeth.
  • Loss of income as a result of sickness or injury.

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