Fire & Special Perils
This covers the insured for loss, destruction or damage to any of the properties insured, against the following perils: Actual Fire, Lightning, Explosion, Bursting or Overflowing of Water Tanks, Pipes, and Apparatus, Aircraft and other Aerial Devices or Articles dropped there from, Riot, Strike & Civil Commotion, Storm, Flood, Bush fire etc.By virtue of Sect. 65 of The Insurance Act 2003, it is mandatory for owners of Public Buildings, to insure such buildings “to cover legal liabilities in respect of loss of or damage to third party property or bodily injury or death to third party, suffered in the course of use of such buildings”. The Act further defines public buildings to “include tenement house, hostel, buildings occupied by tenants, and lodgers and any building to which the public have ingress and outgress”.
The policy will be arranged to cover Buildings, Plants and Machineries including Generators, Office Equipments, stocks including Raw Materials, Finished Products, Spare Parts and/or stocks for sale against physical or material damage, as specified in the policy. The office equipment will include office furniture, fixtures
and fittings, electrical equipment, telephone, telex and fax machines, air-conditioners, photocopiers, office accounting machines, and the like, being your company’s properties, and/or for which you are legally responsible, whilst contained in the insured premises.