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General Insurance


What is General Insurance?

Insurance is a means of protection from financial loss in which a party (an Insurer) agrees to guarantee another party (an Insured) to compensate in the event of a certain loss, damage, or injury in the exchange of fee, called Premium.
It is a form of risk management, primarily used to be cautious against the risk of a contingent or uncertain loss.
Personal Accident (PA) (Individual) Insurance
 It covers the insured against any bodily injury caused by violent, accidental, external and visible means which injury shall independently of any other cause be the direct and immediate cause of Death, or Disablement of all kind (Permanent or Temporary), or (Partial or Total) disability of the insured. It can be purchased by an individual.
Group Personal Accidents (GPA) Insurance
It gives the same covers as mentioned on the personal accident. The difference is, the GPA cover is sold for certain group of persons collected for any other reasons than for Insurance purpose.
Medical Health Insurance

It covers any non-pre-existing sickness or disease which manifests itself during the period of the policy and entails expenses on hospitalization and pharmaceutical treatment and which is not excluded by the policy. Illness does not include learning disabilities, attitudinal disorders and disciplinary problems.

Any person having legal capability is eligible for medical health insurance on behalf of his parents (his mother and father, spouse, children (including adopted children), brothers/sisters and other family members.

That includes;

a.       Hospitalization expenses like card / physician visit fee, laboratory and other examination and diagnosing expenses, and drug/medicines expense,

b.      Room boarding expenses provided by the hospital or health center

c.       Nursing expenses,

d.      Surgical, anesthesia, blood, oxygen, operation charge, radio therapy,

e.       Limited ambulance expense,

Travel Insurance
This Insurance covers illness or injury to the person insured; or loss or damage or liability suffered by international travelers; such as, Personal Accident, Medical Expenses, Medical Transportation, Repatriation of Mortal Remains, Personal Assistance, Baggage, Documents /Cards, Delays, Cancellation, Curtailment, and Personal Liability.
Motor Insurance

Motor insurance provides cover for loss or damage to the insured vehicle/s (Own Property Damage), as a result of accidental collision and/or overturning or fire or theft or malicious acts.

There is a privilege of  “DAILY CASH ALLOWANCE  ADDITIONAL COVER”  under this Policy. If the Insured vehicle sustained an accident and become non derivable, the Insured person will   receive a certain amount of money daily for some days for the purpose of covering his/her daily transportation expenses.  

Fire & Lightening Insurance


It covers the insured property against loss or damage by fire or lightning. In addition, with application of proximate cause, although not directly caused by fire or lightning the following are also covered.

*      Property blown up to prevent the spreading of the fire,

*      Damage by fire brigade in the execution of its duties;

*      Damage by water or other extinguishing agent used during the accident;

*      Loss of or damage to property removed from the burning building caused by the process

*  Of removal or rain provided the insured takes steps as soon as possible to protect the removed property.

* Neighborhood property (Adjoining and Communicating Building).


Allied Perils

In addition to the above mentioned (basic) causes of loss and/or damage, the following additional perils can be covered under this policy with the payment of additional premium;

a.     Aircraft Damage,

b.     Impact damage (loss or damage by accidental collusion / hit by/ a third party object),

c.     Earth Quake,

d.     Spontaneous Combustion (fire from self-ignition),

e.     Storm, Tempest & Flood,

f.     Bursting, or Over flowing of Water apparatus,

g.     Bush Fire Hazardous / Non-Hazardous,

h.     Subsidence and /or Collapse (of land, ….),

i.      Malicious Damage,

j.      Explosion,

k.     Sprinkler Leakage,

l.      Smoke Damage,

m.   Volcanic Eruption,

Consequential Loss
It covers Loss of income due to Interruption of business / operation applied to the occurrence of accidental loss /damage under Insurances of Fire & Lightning, Engineering, Marine, and All Risks (personal property)
Burglary & House Braking Insurance
It covers the property insured against loss by theft, accompanied by actual forcible and violent breaking into or out of the building or any attempted thereat, or if there shall arise any damage to the property insured or the premises.
Marine – Cargo Insurance

This insurance covers against loss of or damage to the goods / the insured properties being transported on Sea, on Air or on land.

All Risk – Personal Effects Insurance

It covers the insured property against loss or damage caused by an accident or misfortune

Plate Glass Insurance
It covers loss or damage of glasses destroyed or broken by any accident or misfortune of a fortuitous character
Political Violence & Terrorism Cover Insurance

This coverage provides financial protection to investors, financial institutions and businesses that face physical loss or physical damage to the property because of political events. Political risk insurance protects against the following perils:

This Policy indemnifies the Insured against;

a.      Property: - Physical loss or physical damage to the property which belongs to the Insured or for which the Insured is legally responsible, directly caused by one or more of the following perils: -


Acts of Terrorism, Sabotage, Riots, Strikes and/or Civil Commotion, Malicious Damage, Insurrection, Revolution or Rebellion, Mutiny and/or Coup d’état.


b.      Other Expenses: - Expenses incurred by the Insured in the removal of debris directly caused by any one or more of the Covered Causes of Loss.

Machinery Breakdown Risk

Machinery Breakdown insurance is an “accident” insurance for machinery, and thus covers sudden and unforeseen physical damage that limits the operability of the insured item and therefore necessitates its repair or replacement.

The Insured items includes

-          All types of exchangeable tools,

-          Sieves, engraved cylinders, moulds, dies, ropes, chains, belts,

-          Glass, ceramics, rubber tires,

-          Operating media of any kind, such as fuels, gases, coolants, catalysts, lubricants (oil in transformers), and

-          circuit-breakers are included, however, since it is not only.

Erection All Risk (EAR)

EAR gives both Material Damage & Third-Party Liability Covers.

1 Material Damage

a.      any unforeseen and sudden physical loss or damage to property,

b.      cost of clearance of debris,

c.       Losses of or damages occurred to property located on or adjacent to the site and belonging to or held in care, custody or control of the principal(s) or the Contractor(s).

2 Third Party Liability

      It covers all legal liability to pay as damages consequent upon

a.   accidental bodily injury to or illness of third parties (whether fatal or not),

b.   accidental loss of or damage to property belonging to third parties, occurring in direct connection with the erection, construction or testing of the items insured.

Contractors’ All Risk Insurance (CAR)

It provides an 'all-risks’ cover / every hazard is covered against loss or damage occurring to the property insured on the building site.

The most important causes of losses identifiable under CAR insurance are: -

-          Fire, lightning, explosion, extinguishing water or another firefighting measurer,

-          Theft, burglary,

-          Flood, inundation, rain, snow, avalanche, tsunami, Windstorm of any kind,

-          Earthquake, subsidence, landslide, rockslide,

-          Crashing aircraft,

-          Bad workmanship, lack of skill, negligence, malicious acts or human error.

It also covers loss of or damage to building material, construction machinery and construction plant and equipment occurring during on-site transport, intermediate storage, or during assembly or disassembly.

Contractors’ Plant & Machinery (CPM)

It covers the Insured against any unforeseen and sudden physical loss or

damage from any cause in a manner necessitating

repair or replacement in respect of any earth moving Contractors’ Plant and machineries.
Electronics Equipments’ Insurance (EEI) Insurance

It is essentially an "Accident Insurance" on "All Risk" basis for electronic equipment. It thus covers losses which arise suddenly enforceable and materially affect the subject matter insured, necessitating repair or replacement.


Boiler Insurance

It covers unforeseeable & sudden physical loss of or damage to the insured items; necessitating their repair of replacement. Loss or damage covered under the policy is mainly due to one of the following causes:-

  • Faulty design,
  • Faulty operation, lack of skill, negligence,
  • malicious acts,
  • shortage of water in boilers, physical explosion, short circuit, and other electrical causes.
Bond Insurance

Various types of guarantees / bonds are being issued by the company; such as,

     1 Bid Bond,

     2 Performance / Maintenance / Supplies Bond,

     3 Advance payments Bond,

     4 Customs Bond.


Fidelity Guarantee Insurance
It covers loss sustained through any acts of fraud or dishonesty committed by an insured employee. Employers transfer the risk of loss of money /precious properly stolen by their dish honest employee (cashers, storekeepers, sales persons, etc).
Workmen’s Compensation Insurance

This Insurance is synonymously referred as “Employers’ Liability”.

It covers the insured employees against death or bodily injury by accident or occupational diseases occurring at the place assigned to them for work or arising from their work and during the time of their work.

The cover includes Death, or Disablement of all kind, (Permanent or Temporary), or (Partial or Total) disability of the insured. It can be purchased by an individual.
Money Insurance

It covers loss of money sustained as a result of fortuitous circumstances including through unlawful acts of other persons such as burglars or thieves. This loss or damage can be either:-

  1. to any safe or strong room belonging to the insured, or
     2. while in transit from the premises /bank to  .bank /premises

Head Office Address

Bole Bridge, In front of Brass Hospital
Tel:+251- 111-11 97 70/71
Office:+251 - 116- 50 66 32/37/38
Fax: +251-111-11 98 86
P.O.Box: 56144

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