For the vehicle owners, transport companies and motor dealers the following motor insurances are available
- Private Car Insurance – This Policy covers small passenger cars.
- Commercial Vehicles – This policy is appropriate for pick-ups buses and Lorries.
- Motor Cycle Policy
- Trailers and tractors
- Motor Trade – Internal and Road Risks – cover for Motor Dealers
In each of the above cases, cover is arranged on comprehensive Third Party Fire and Theft or Third Party Only basic. The comprehensive cover allows for important extensions such as windscreen replacement, radio cassette, medical expenses, and towing and urgent repair authority
Our risk management efforts are primarily based on the premises that risks are relative to an organization’s objectives. Objectives must therefore exist before potential events affecting their achievement can be identified.
It is therefore imperative that any forward looking organization seeking to achieve its set objectives / performance targets must have its risks identified and appropriately managed
Loss of or damage to private houses and the contents therein arising out of fire, lightning, burglary and other perils as specified in the policy including riot and strike and malicious damage
Fire and Special perils
Nexus Insurance Brokers Limited arranges appropriate fire insurance for business and domestic risks. Fire causes massive loss / damage to buildings plant / machinery stocks and contents. There is also loss resulting from interruption to the business following fire damage.
This provides indemnity for loss of or damage by fire, lightning, bush fire, earthquake, fire and shock, explosion, aircraft, riots, strikes, malicious damage, subterranean fire, storm, tempest, flood, and overflowing of water pipes and tanks and impact damage by vehicles.
Industrial all Risks Combined
Physical loss of or damage to property insured and loss of gross profit arising from any cause not excluded by the policy. Loss of profits following business interruption by perils covered under property damage section.
Consequential Loss – Fire & Perils
Loss of profits following business interruption by fire, lightning, bush fire, earthquake fire and shock, explosion, storm, tempest, flood, overflowing and/or bursting of water pipes and tanks, aircraft, impact, third party vehicles riot, strikes and civil commotion, malicious damage and spontaneous combustion and subterranean fire.
Physical loss or damage to stock in trade and any other goods incidental to the business the property of the insured or held in trust or on commission whilst contained or in the open in any premises used, owned, rented, let or leased by the insured anywhere in East Africa and/or whilst in transit by road, rail, air, parcel post, inland waterway by insured’s own or hired vehicles and/or transporter’s own or hired vehicles anywhere in East Africa.
Consequential Loss – Book Debt
Indemnity against financial loss arising as a result of destruction or damage to records occasioned by fire and associated perils
Terrorism & Sabotage Insurance
Indemnity against physical loss or damage including business interruption arising thereof as a result of the use of violence against persons or property to further political objectives.
This policy provides indemnity against legal liability to third parties in respect of accidental death, bodily injury and/or illness incurred by the Insured in the course of using or being in contact with the insured products. Some of the liability insurance offered includes the following.
Indemnity in respect of Common Law Liability for Death, disease or injury to employees arising in the course of their employment
Indemnity in respect of death or injury to employees arising out of and in the course of their employment in accordance with Workmen’s Compensation Act. Cover includes: – Road risks to and from the place of work and social activities where employer provides the transport including participation in those activities
Indemnity against legal liability to third parties rising out of breach of professional duty through negligence, Error or omission by the Insured or any employees of the Insured in the performance of their professional duties
Indemnity against legal liability to third parties in respect of accidental death, bodily injury and/or illness incurred by the Insured in the course of the Insured’s business
Indemnity to the Trustees in respect of Wrongful Acts / Defined Events committed during the Period of Insurance.
Indemnity to the Trustees in respect of Wrongful Acts / Defined Events committed during the Period of Insurance
Directors and Officers Liability
The policy provides indemnity to the Directors and officers against amounts which the insured shall become legally liable to pay as compensation including agreed defense costs and expenses, in respect to any Wrongful Act committed in their capacities as Directors or Officers of the Insured Company
Policy provides, indemnity in respect of unforeseen and sudden loss or damage to the specified machinery whilst at work or at rest or while being dismantled
Computer & Electronic Equipment
Policy covers sudden and unforeseen physical loss of or damage to the computer equipment, software and re-compilation of data lost or damaged. The policy also covers increased cost of working occasioned by loss of or damage to the computer equipment. The insurance covers the risk of explosion and collapse of any boiler or pressure plant in the course of ordinary working. There is also cover for own surrounding property and also third party liability.
Contractors All Risks Insurance
The insurance provides indemnity for damage to specific contract work. Indemnity is also available for construction plant / equipment, site materials, injury to employees and third party liability. Erection All Risks Insurance provides cover against risks associated with Erection, testing and commissioning of machinery, plant and equipment during the construction stage
Consequential Loss – Machinery Breakdown
Indemnity for loss resulting from interruption or interference to the business insured. The loss may be direct loss of profits during the period of interruption. Insurance cover for deterioration of goods held at a constant temperature is provided under deterioration of stock policy. The consequential loss follows breakdown of refrigeration equipment. Loss of profits following sudden accidental and unforeseen damage to machinery covered.
Life & Pension Insurance
An important part of a sound financial plan, life insurance provides a valuable death benefit to your beneficiaries upon your death. Your beneficiaries can then use this money to replace some of the income you would have earned or to help pay off debts or other expenses.
The two types of life insurance are term and permanent. The one that’s appropriate for you depends on many factors, including your
Budget, the amount of coverage you need, and the length of time you’d like the coverage to last.