In Nigeria it is compulsory for all businesses to have Employer’s Liability Insurance, to protect the employee. There are many other optional insurance products available to Nigerian businesses to help protect them against financial turmoil as well as natural disasters. Below we have compiled a list of insurance products we recommend businesses to have.
Like homes, businesses premises need to be protected from the inevitable – burglary, fire or flood damage. We recommend this for anyone with valuable physical stock and perishable goods. A fire and other perils insurance normally covers the following:
The items to be insured are usually made up of the following:
Professional indemnity, or PI insurance, gives professional businesses protection against claims made by their clients, for any damage caused by professional negligence. This form of policy is recommended to professionals such as engineers, architects, doctors and pharmacists.
We hate to think about it, but what would happen to your business if one of your key staff were to die? This is an insurance cover purchased on the life of a key person within the organisation to protect the company against loss of profit or cost of replacing the key person in the event of demise.