General Insurance

Hosting an event is a big investment; one that comes with many uncertainties no matter how well you plan the event. Custodian Events Insurance can help you secure this investment as it protects the policy holder from any unforeseen circumstances which could lead to public liability claims, accidental injuries to guests, loss or damage of event equipment, professional liability claims as well as employee liability claims.
Furthermore, Custodian Events Insurance can be extended to cover event cancellation due to specified causes and also litigation cost incurred by the Insured with the consent of the Insurer.

Benefits of the Policy

• Gives peace of mind to all stakeholders i.e. Event planner, Principal, Guest and Venue owners.
• Provides compensation to guests and employees for medical expenses - bodily injuries and temporary disabilities occurring at the venue of the event.
• Provides protection for the event planner in the event of public liability claims made in respect of death /bodily injuries to Third Party Persons as well as damage to properties during the event and at the venue.
• Eases the financial losses associated with cancellation of events
• Provides the widest insurance coverage compared to others in the market.

• Public Liability Insurance which covers the Insured’s legal liability to pay damages, claimant’s costs and expenses which arise as a result of injuries to invited guests and third parties arising out of and in connection with the event.
• Professional Liability Insurance which provides cover for the Insured in respect of any loss or liability arising from any claim or claims for breach of professional duty by reason of any neglect, error or omission committed in the conduct of the insured's business in its professional capacity or any person in the employment of the insured.
• Event Equipment Insurance - provides cover for the loss of, or damage to the Insured's equipment or equipment the Insured is responsible for during and in association with the event.
• Employee Accident Benefit Insurance - provides compensation to employees for death or bodily injury by accident or disease arising out of and in the course of the event / employment with the Insured.
• Event Cancellation Insurance - protects the expenses already incurred on an event against cancellation due to circumstances beyond the Insured's control. These circumstances can include, but are not limited to severe/adverse weather; Riots, Strikes and labour disturbances; unavailability of the venue due to fires, floods etc.

Our Motor Vehicle Insurance Our Motor Vehicle Insurance covers Nigerian registered private motor vehicles, commercial vehicles, motorcycles, trucks and trailers.
It offers the following cover:
Comprehensive Cover: covers against unforeseen accidents, loss, theft and fire damage to vehicles. It also provides cover for accidental injury or death to third party as well as damage to third party property.
Third Party Fire & Theft Cover: covers against theft and fire damage to vehicles. It also provides cover for accidental injury or death to third party as well as damage to third party property. It however, does not cover accidental damage to the Insured vehicle.
Third Party Cover: covers the Insured against accidental injury or death to third party as well as damage to third party property.
Optional Cover

• Vehicle sound/radio and accessories must be specified and are covered for loss or damage.
• Out-of-Nigeria covers your vehicle where it is temporarily used either for business or private outside NIGERIA BUT WITHIN THE WEST AFRICAN shores provided notice is given to us and the necessary document obtained i.e. The Brown Card. It covers you for your liability to other people where an accident causes death or injury to them or damage to their property and attracts additional premium

• Discount is given depending on the number of vehicles
• Towing Fee is covered up to a maximum limit provided your car is towed to a nearest and reasonable place for safekeeping or repair.
• Cover for Personal effects in the vehicle following an accident and/or theft up to a maximum limit.
• Flood, Risk of Strikes, Riots and Civil Commotion – payment of additional premium

Fire/Special Perils Insurance: This provides cover for loss or damage to Insured’s properties arising from the following perils:

Business Interruption Insurance: if any building or other property used by the Insured at their Premises for the purpose of their Business be destroyed or damaged by any of the Perils listed below during the Period of Insurance and in consequence the business carried on by the Insured at the Premises be interrupted or interfered with then the company will pay to the insured the amount of loss resulting from such interruption or interference.

Burglary/Housebreaking Insurance: The insurance will pay compensation for loss, destruction or damage following the occurrence of burglary and/or housebreaking accompanied by actual forcible and violent breaking into or exit from the premises insured. Cover will extend to include damage to doors and window or other parts of the building as a result of the theft or attempted theft. Cover can be extended to Larceny (loss without actual forcible and violent breaking into or exit from the premises) at an additional cost. Items covered include movable property which is inside your office premises or which is outside and designed to exist or operate externally.

Electronic Equipment Insurance: covers your electronic business equipment including computers, licensed software, scanners, printers, copiers and fax machines against loss or damage by fire, theft or any other accidental damage or misfortune. Costs of data restoration can also be covered.

Money Insurance: This covers negotiable instruments including cash, cheques, money orders, postage and revenue stamps against loss from business premises and during transit. Cover can also be provided for in personal custody of senior employees, cash in safe as well as damage to safe.

Corporate All Risks Insurance: Covers loss or damage to property by any cause not specifically excluded in the policy in respect of specified items: Jewelries, Watches, Cameras, Trophies, Gold & Silver articles, Work of Art and other Personal valuables and effects, Computers, Accounting and other portable Office Machines, Scales, Survey Equipment etc. Cover could be limited to Nigeria or extended on worldwide basis.

Business Owners Insurance: Covers:- covers Loss of or damage as a result of Fire, Lightning, Explosion, and Other Exterior Perils to:

• Buildings
• Contents, whilst contained in the Buildings
• Stock & Materials In Trade

Machinery Breakdown/Boiler Insurance: Machinery Breakdown insurance is an ideal cover for stationery plant and machinery which covers cost of repairs or replacement of damage parts as a result of accidental Electrical and Mechanical Breakdown.

Cover is against loss or damage from any unforeseen and sudden physical loss or damage from causes such as defects in casting and materials, faulty design, faults at workshop/factory 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 or from any other cause not specifically excluded by the policy.

All types of Machinery, Plants, Mechanical Equipment and Apparatus are covered. Examples are Power generating plants (Boilers, Turbines, and Generators), Power Distribution Plants (Transformers, High & Low-Tension equipment), Production Machinery in Factories and Ancillary equipment like Elevators etc.

Boiler is a closed vessel in which water or other fluid is heated under pressure
Pressure Plant is a closed container which uses steam, gas, other fluid under pressure
Major risks in Boilers are generally that of explosions which can occur due to various reasons resulting in damage of the vessel and third party liability

Boiler Insurance and Pressure Plant Insurance: therefore covers Explosion or Collapse of the insured Boiler or other pressure vessels resulting in:
Damage to the boilers / other pressure plant Damage to surrounding property Liability for third party property damage and/or fatal or non-fatal personal injuries Explosion or Collapse arising in course of ordinary working only is covered.

Goods-In-Transit Insurance: This provides cover for loss or damage to Insured’s goods by any accident or misfortune while in transit within the Territorial Limits. Goods can be carried in either owned or hired vehicle.

Contractors’ All Risks Insurance: This policy protects the Insured (contractor) against risks of physical loss, destruction or damage to construction works during the course of the construction contract

It can also be extended to cover legal liability and loss or damage to:

• Temporary Buildings.
• Constructional Plant.
• Tools and Equipment.
• Hired-in Property.
• Employees' Tools and Effects.
• Public Liability.

Group Personal Accident Insurance: This is a Benefit Policy and it is used as a Welfare Scheme to encourage and motivate employees. It also saves the employer the embarrassment of having to bear the burden of medical or death expenses each time such incident occur to a staff.

Our cover includes:
Death or Bodily injury (permanent or temporary) caused solely and directly by accidental, violent and visible means on 24 hours basis anywhere in the world Medical expenses

Benefits Available:
Death Benefits – 100% of Benefit selected
Bodily injury which within 12 calendar months from the occurrence thereof shall solely and directly cause the death of the insured

Permanent Total Disability – 100% of Benefit selected
(Occurring as in a) above but resulting in the loss of limb(s) or eye(s)

Temporary Total Disability – Weekly salary of the affected staff
Bodily injury which shall solely and directly totally disable and prevent the insured person from attending to his business or occupation.

Medical Expenses – As selected
Actually incurred as a result of an accident giving rise to a claim under the policy

Employers’ Liability Insurance: covers staff of employer of labour for death or accidental injury sustained by them arising from their employment:
Benefits
Death: Dependant relative will be paid 42 Months Earnings of the deceased staff
Permanent Disability: staff will be paid percentage of 54 Months Earnings
Temporary Total Disability: Employers will be paid amount paid to the injured staff for the period the staff was out of work as follows:-
Full salary for first six (6) months Half salary for next three (3) months Quarter salary for the remaining fifteen (15) months

Medical Expenses: Unlimited but must be reasonable.
Burial/Funeral/Transport: Reasonable expenses

Professional Indemnity Insurance: covers the Insured in respect of any loss arising from any claim for breach of duty which may be made against them by reason of any neglect, error or omission whenever or wherever committed or alleged to have been committed in the conduct of the Insured's business in the professional capacity provided that the act are negligence, error or omission shall have been committed during the Insured period.

Public Liability Insurance: the policy will indemnify the Insured against all sums which the Insured shall become legally liable to pay in respect:

• death, illness or bodily injury to any person
• damage to property belonging to someone else as a result of the use of your business premises or work away from your premises.

In addition, the policy will also pay all cost and expenses incurred with their written consent.

MARINE CARGO INSURANCE: Although three (3) basic covers exist under this policy namely; Institute Cargo Clause A Institute Cargo Clause B Institute Cargo Clause C

In practice however, two (2) types of cover are commonly used. These are the Institute Cargo Clause A and the Clause C.

AMarine Hull Insurance: Covers any hull or ship, motorboat, houseboat (including their machinery, equipment, standard fittings and accessories therein).

This covers:
Accident Theft Fire, explosion and earthquake Storm, hail and flood Salvage costs Medical expenses for injuries to people caused while using the craft Liability to other people

Plant All Risks: covers any unforeseen and sudden physical loss or damage to the movable Plants and machineries from any cause not specifically excluded in a manner necessitating repair or replacement, cash (at their own option).
It also applies whether the Insured items are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations

Builders’ Liability Insurance: This a compulsory Insurance by Law and it covers all buildings under construction with more than two floors against all construction risks resulting from the Builder’s negligence or the negligence of the Builder’s servants, agents or consultants which negligence may result in bodily injury or loss of life or damage to the property.
The policy commences with the movement of the Contractor/Builder to the Contract Site to the end of the maintenance period and it is in two (2) sections:

Section I – Builders Liability
The Company will indemnify the Insured against all sums which the Insured shall become legally liable to pay as damages consequent upon:

• death bodily injury to or illness of employees or workmen of the contractor(s) or the Principal or any other firm connected with the contract work or members of their families.
• accidental bodily injury or illness (whether fatal or not) to third parties.
• accidental loss or damage to property belonging to third parties occurring in direct connection with the performance of the contract insured by this Policy and happening on or in the immediate vicinity of the Contract Site during the Period of Insurance.
• Damage to any property or building caused by vibration or by the removal or weakening of support or injury or damage to any person or property occasioned by or resulting from such damage.

Section II – Legal Costs And Expenses
In respect of a claim for compensation to which the indemnity provided herein applies, the Company will in addition indemnify the Insured against:

• all costs and expenses of litigation recovered by any claimant from the Insured, and
• all costs and expenses incurred with the written consent of the Company.

The Liability of the Company under this section shall not exceed the limits of indemnity

Occupier’s Liability Insurance: This a compulsory Insurance by Law. It covers third party liability and damage to Public and Private buildings caused by various hazards listed below:

• Collapse
• Fire explosion lightning thunderbolt, earthquake.
• Storm, tempest, flood excluding destruction or damage by frost.
• Riot civil commotion, strikes, labour disturbances or malicious persons acting on behalf of or in connection with any political organization.
• Bursting or overflowing of water tanks apparatus or pipes (excluding damage caused thereto)
• Robbery, Burglary, housebreaking or any attempt thereat
• Impact with any of the buildings by any road vehicle horses or cattle not belonging to or under the Control of the insured or any member of the insured’s family or business.
• Leakage of oil from any fixed oil-fired heating installation.
• Breakage or collapse of any fitting, fixture or mast.

The Law describes “Public building” to include any tenement house, hostel, a building occupied by a tenant, lodger or licensee and any building to which members of the public have ingress for the purpose of obtaining educational or medical service, or for the purpose of recreation or transaction of business.
It also covers:

• Personal liability
• Public liability
• Property owner’s liability
• Accidents to domestic servants
• Rent of alternative accommodation
• Compensation for death of the insured
• Tenants liability to the estate
• Elevator hazard clause
• Fire brigade service charge

This a compulsory Insurance by Law and it covers all Health Care Providers in Nigeria (Hospitals, Clinics, Doctors Nurses Dentist etc). It insures the facility and its professional staff and pays for the defence costs and any damages awarded up to the policy limit arising from legal liability to clients and third parties for breach of contract or the duty to render the standard of service for which the professional has been hired resulting in death, disability or injury by shock involving the physicians, the medical centre, medical institution, medical professionals including ancillary services like nursing, therapy, laboratory, investigations and vicarious liability arising specifically from:

• Negligence: Failure of a practitioner to exercise the required standard of care for the protection of his/her patient.
• Errors: Healthcare interventions not carried out as they ought to have been.
• Mistakes: Errors in the judgment or the understanding of a diagnosis.
• Omissions: Oversights in the clinical management of a patient.

The SME Insurance Policy is a combined and flexible insurance plan that protects the business owner and organisation from fortuitous loss, suffered as a result of perils that are insured against; whilst carrying out its operations in strict adherence to the laws of the country.
How It Works
The SME Insurance Policy offers the business owner the choice of selecting some or all of the insurance plans that meets the need of their business. Some of the classes of insurance covers through the Custodian SME Insurance policy include the following:

Fire and Special Perils Insurance
The policy will provide compensation if the property/asset suffers loss or damage caused by fire or any of the perils listed below.
The Perils covered are:
Fire Lightning, Explosion, Aircraft damage Riot strike and malicious damage Storm, tempest, flood, inundation, hurricane, cyclone, typhoon, and tornado Subsidence/landslide including rockslide Bursting and or overflowing of water tanks and apparatus Bush fire

Burglary Insurance
This policy covers loss or damage to the insured’s property resulting from actual forcible and violent entry into or exit of the insured’s business premises.

Group Life and Personal Accident Insurance
At inception, an immediate estate is created for the dependent (s) which is available upon premature death. The policy provides:
A 24-hour mortality cover devoid of geographical limitations Cover against death from any source Instant financial assistance for dependents of the deceased Death cover of twice the sum assured in the case of accidental death (if the option is chosen) Permanent disability benefit equal to the sum assured in case the employee is totally and permanently disabled with a medical expense limit of N50, 000 Temporary total disability benefit equal 2% annual salary for a maximum of 104 weeks with a medical expense limit of N50, 000 A wholesome package that meets the requirements of the statutory group life policy under 4(5) of the Pension Reform Act, 2014

Motor Insurance (Private Car/Commercial Vehicle)
The policy provides cover against unforeseen loss/damage, theft, fire, damage of the insured’s vehicles. It also provides cover for accidental injury to or death of third party as well as damage to third party property, up to a limit of N1, 000,000. The policy will cover vehicles used for private/pleasure and business (excluding fare-paying passenger buses)

Occupiers’ Liability Insurance The policy covers legal liability of the insured arising from ownership, maintenance or use of the designated premises; including the ways immediately adjoining the premises or buildings for death, bodily injury or property damage sustained on or around the premises by any user or member of the public. This insurance cover is compulsory by law for all buildings to which members of the public have ingress and egress for the purpose of obtaining educational or medical service, or for the purpose of recreation or transaction of business.