Combined All Risks Insurance Brokers Nigeria Limited is a registered insurance broker providing risk management and insurance solutions for businesses and individuals.

We help our clients better quantify and manage their risks in order to survive and thrive.

We are committed to providing outstanding level of service for our clients, who are at the centre of everything we do. Our culture of professionalism and customer centeredness have set us apart from the pack. We work together with our customers to understand their business needs and individual circumstances. Hence, we are able to recommend solutions from our broad range of products and services that mitigate risk and add value.

Combined All Risk Insurance Brokers Nigeria Limited

ABOUT

With Business office at Lagos, Combined All Risk Insurance Brokers Nigeria Limited offers superior insurance intermediary service to both individual and corporate clients.
Combined All Risk Insurance Brokers Limited has been registered by the Nigerian Council of Registered Insurance Brokers (NCRIB) and the National Insurance Commission (NAICOM) in Compliance with the Insurance Act of 2003 and the Nigerian Council of Registered Insurance Brokers (NCRIB) Act of 2003.
Our Vision

Our Vision

To be a pacesetter in the insurance industry in Africa while delivering superior service to our clients.
Our Mission

Our Mission

To provide outstanding insurance intermediation service through continuous customer evaluation and cutting edge technology.

Our Core Values

P ROACTIVE
R ELIABLE XPERTISE
O PENESS
T EAM WORK
E XCEPTIONAL SERVICE
C USTOMER FOCUS
T RAINING

SERVICES

Insurance Broking
Ensuring prompt arrangement of insurance cover and renewals
Risk assessment and analysis
Placing of clients business with reputable insurers
Researching policies from different insurers
Advisory services & solutions
Claims processing/administration
Negotiation of competitive premiums and policy terms with insurers; giving clients the best coverage at the optimal price

OUR COMPETITIVE EDGE

Given that information technology is increasingly harnessed by global companies for effectiveness in the world today,we are committed to aligning with this trend to our customers’ benefit by exploring cutting edge technology to eliminate painfully slow transactions, avoid complex processes and inefficient bureaucracies. Making room for online transactions. In time, customers are able to get competitive quotes, pay their premiums and file their claims. We will be able to profile, up-sell, cross-sell with the ultimate aim of effectively servicing our clients.

Insurance Policies

Different Insurance Policies explained
Non Life Insurance Policies
Money Policy
M oney Policy protects your business against the loss of cash while in transit either to or from the bank as well as while on your business premises provided it is securely locked up in a safe.The policy can also be extended to cover cash in the personal custody of selected management staff.
Householder Insurance

T he Householder Insurance Policy covers the insured’s building, fixtures and fittings, contents, jewellery and valuables, as well as public liability benefits.

Depending upon the property insured, the cover extends to protect the insured against:

Fire and allied perils
Burglary, housebreaking, larceny or theft
Loss or damage by accident or misfortune
Legal liability towards general public
All Risk Cover for selected valuable items
The exclusions under this policy are specific to the item or property insured.

All Risk Insurance
A ll risks insurance as the name implies covers “all risks” of theft, loss or accidental damage to property insured. This insurance is the widest form of cover especially for property, however not all kinds of risks can be covered as there are exceptions.

Your business will be indemnified by payment, reinstatement or repair against pre-specified loss or damage sustained. As with other policies, this is subject to the terms, exceptions, limits and conditions contained or endorsed during the period of insurance.

Fire & Special Perils
T he basic fire insurance policy covers loss or damage resulting from fire (whether resulting from explosion or otherwise), lightning or explosion.

The policy can also be extended to cover perils of storm, flood, burst pipes, overflowing of water tanks, impact by vehicles, malicious damage, earthquake damage, aircraft damage, bush fire, explosion, riot and strike.

It covers buildings, contents and stock-in-trade, plant and machinery and loss or rent.

This policy insures your company against loss or damage to property as a direct result of fire out break, lightning or explosion.

Other perils such as social disturbances like strikes and riots, and natural disasters like storm damages, floods and earthquakes can also be covered by an extension of the standard scope of the cover.

The items to be insured are usually made up of buildings, office furniture, electrical & electronic equipment, plants and machineries, stock of raw materials and finished goods, and loss of annual rent for alternative accommodation.

The policy also contains various other extensions that are granted at minimal extra cost to the policyholder.

Industrial All risk Policy
T his policy provides cover against damages that arise from all perils covered by Fire and Special Perils policy, Burglary Insurance policy, Limited Fidelity Guarantee & Money Cover, Business Interruption due to fire and special perils policy.

Some losses are excluded and extra covers can be provided.

Burglary

T his policy is designed to indemnify the insured against loss or damage resulting from theft or attempted theft which is accompanied with actual forceful or violent entry into or out of the premises or any attempt at that place or time.

The policy covers the insured against loss or damage to his property accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat. It covers contents and stock whilst on the insured premises.

The items usually covered under this policy are similar to those under the Fire and Other Perils policy with the exception of Buildings and Loss of Rent.

Motor Vehicle Insurance
C omprehensive Policy: Covers accidental damage to the insured’s vehicle and also indemnity for damage to third party vehicle/property as well as third party personal injury/death by the insured vehicle. This is the widest form of cover.

Third Party Policy: This cover is restricted as it covers only indemnity for damage to the third party vehicle/property as well as third party person injury/death by the insured vehicle.

Third Party Fire & Theft Policy: This provides cover for accidental loss or damage to the insured vehicle arising out of fire or theft but does not cover accidental damage. The cover is also provided for all sums the insured vehicle shall be legally liable for causing accidental loss/damage to the third party property or injury /death to third party.

Goods in transit
O ur GIT policy covers goods being carried from one location to another. Any loss not specifically excluded under the policy is covered and the insurance is especially suitable for organizations that are engaged in movement of goods either by road or rail. Typically, the cover will operate whether the goods are being conveyed by owner’s vehicles or commercially hired vehicles. Losses arising from Fire and Theft are covered under this policy.

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Oil & Gas Insurance
O il & Gas insurance offers Comprehensive Packaged insurance protection for risks generated by Oil & Gas activities such as Onshore Risks, Offshore Risks, Insurance of Oil Platforms (Rigs), Pipelines, Operators Extra Expense Insurance and Oil Tankers Insurance.

It protects all parties against the financial consequences of accident which may lead to loss or damage to properties, business interruption and injury to workmen and third parties.

Aviation

A viation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation.

Bond
A bond is a guaranty taken by a company/bank against non performance on the part of a contractor. The need for a bond arises either when a party seeking a bond is obliged by contract or legislation to make a certain deposit of money as security before he could be allowed to execute certain jobs. The various classes of bonds offered are performance bond, advance payment bond, credit bond, counter indemnity or counter guarantee bond.
Marine Insurance
Y ou can get marine insurance for your imported goods or for your vessel/yacht.

Marine Cargo: The marine cargo policy provides cover for loss or damage to imported goods being conveyed by sea or air and can be taken up either as an All Risk Policy (covers total or partial loss of goods) or as a Restricted Cover Policy (covers total loss only). The premium rate applied will depend upon the nature and value of goods being imported, the type of cover required as well as the country of origin.
Marine Hull: The marine hull policy provides cover on vessels and yachts against any loss, damage or liability that may arise from their use. The scope of cover provided is either an “all risks” or “total loss only” while the policy usually carries a deductible amount of about 10% of the value of the vessel or yacht. The premium rate applicable to this policy is based on the value of your vessel, nature of vessel, use and general seaworthiness. Annual cover or short period / voyage covers are available.

Goods in transit
O ur GIT policy covers goods being carried from one location to another. Any loss not specifically excluded under the policy is covered and the insurance is especially suitable for organizations that are engaged in movement of goods either by road or rail. Typically, the cover will operate whether the goods are being conveyed by owner’s vehicles or commercially hired vehicles. Losses arising from Fire and Theft are covered under this policy.
Machinery Breakdown Policy
T his policy is designed to cover any damage to a plant or equipment while working or at rest, or while being dismantled for the purpose of cleaning, repairing or overhauling. In the same vein, boiler and pressure vessels can be covered under a separate but similar policy.
Electronic Equipment Policy

T his policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest.

The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such are kept within the premises.

Any increase in cost of working as a result of damage to the main computer equipment is also covered and compensation is provided for alternative means of carrying on operation.

With payment of an additional premium, this policy can be extended to cover the risk of theft.

Plant All Risk Insurance
P lant All Risk (PAR) Insurance covers the plant and machinery which a contractor needs to facilitate execution of a Contractors All Risk or an Erection All Risk project.

In most cases, these plants work under extreme environmental conditions of e.g. dust, hard terrain, slippery or wet conditions etc.and are therefore exposed to severe wear and tear as well as highly hazardous working conditions.

Contractor All risk
T his is one of the main forms of construction insurance that has been developed to meet the changing needs of the construction industry. When new buildings or civil engineering projects such as roads or bridges are being constructed, a great deal of money is invested before the work is finished.

The essence of the cover is to bridge the gap when the building or bridge sustains severe damage and to prevent such loss or damage from prolonging the construction time schedule thereby delaying the eventual completion date.

Erection All Risk

T his is the Insurance cover provided for the construction/erection of machinery, plant & steel structures involving very little civil engineering works.

There is a seeming similarity between the Contractors All Risk (CAR) and the Erection All Risk (EAR) but it is worthy of note that they are not similar.

While the CAR provides cover for civil works and mostly buildings needed to house or support the expensive machinery & equipment, the EAR covers the erection.

Consequential loss
T his is a policy meant to cover losses sustained by Business owner/company due to loss or damage to their operational premises which led to interruption in their normal business operation and sustain losses/expenses on the areas of Loss of Profit, Wages, Auditors fee.

This could happen as a result of the operation of the Perils such as Accidental damage, Fire including Lightning & limited Explosion, Explosion (Industrial), Aircraft, Riots, Strikes, Lock-out, Malicious Damage, Earthquake or Volcanic Eruption.

Fidelity Guarantee

F idelity Guarantee policy indemnifies against infidelity of an employee which leads to financial loss. It covers for the loss of money, goods and/or stock arising from dishonesty, embezzelment or misappropriation of company’s funds &/or property by employees.

In any of these cases, the number of persons and the limit of guarantee against any one loss would be advised as well as aggregate amount of guarantee in a given year.

Public Liability
T his type of insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business. It also covers any related legal liability to third party, costs and expenses as well as accidental death. The vicarious liability of the insured’s employee can also be covered provided it arose in the course of carrying out his official duties.
Product Liability

T his policy is suitable for all industries where the need for compensation on account of defective product may arise.

The policy pays for damages that the insured is legally liable to pay in consequence of accidental death/injury or disease to third parties including damage to third party property due to any defect in the products manufactured.

Exports to other countries can also be covered provided domestic sales are also covered.

Professional Indemnity
P rofessional indemnity is issued to indemnify professionals against legal liabilities or losses arising from claims over breach of duty in the course of the execution of insured’s business.

This form of policy is suitable for professionals such as engineers, architects, doctors, pharmacists, etc.

Occupiers Liability
O ccupiers’ Liability Insurance product is designed to meet the legal requirement for cover required of all building owners or occupiers for the benefit of third parties.

It covers them against the perils such as collapse, fire, storm, earthquake and flood.

The policy covers all business and office premises; residential buildings that are let out (in full or in part); recreational centers, club houses, cinema halls, etc.; schools and training institutions; and all other buildings where third parties have access as licensees, tenants, lodgers, or for educational, medical, business or recreational purposes.

Group Personal Accident
T his type of policy provides death, permanent and temporary disability benefits to employees as a result of accident during the course of employment. It is designed to improve the welfare of employees as well as reduce the financial strain on the organization in the event of accident, death or bodily injury to a member of staff.

The policy also provides cover on 24-hours basis and benefits are expressed as multiples of salaries. Cover extends to weekly benefits in the event of temporary disability resulting from bodily injury to the insured person as well as certain allowances for expenses incurred on medical treatment. Death, or injuries from natural causes are not covered.

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Property Insurance
Money Policy
M oney Policy protects your business against the loss of cash while in transit either to or from the bank as well as while on your business premises provided it is securely locked up in a safe.The policy can also be extended to cover cash in the personal custody of selected management staff.
Householder Insurance

T he Householder Insurance Policy covers the insured’s building, fixtures and fittings, contents, jewellery and valuables, as well as public liability benefits.

Depending upon the property insured, the cover extends to protect the insured against:

Fire and allied perils
Burglary, housebreaking, larceny or theft
Loss or damage by accident or misfortune
Legal liability towards general public
All Risk Cover for selected valuable items
The exclusions under this policy are specific to the item or property insured.

All Risk Insurance
A ll risks insurance as the name implies covers “all risks” of theft, loss or accidental damage to property insured. This insurance is the widest form of cover especially for property, however not all kinds of risks can be covered as there are exceptions.

Your business will be indemnified by payment, reinstatement or repair against pre-specified loss or damage sustained. As with other policies, this is subject to the terms, exceptions, limits and conditions contained or endorsed during the period of insurance.

Fire & Special Perils
T he basic fire insurance policy covers loss or damage resulting from fire (whether resulting from explosion or otherwise), lightning or explosion.

The policy can also be extended to cover perils of storm, flood, burst pipes, overflowing of water tanks, impact by vehicles, malicious damage, earthquake damage, aircraft damage, bush fire, explosion, riot and strike.

It covers buildings, contents and stock-in-trade, plant and machinery and loss or rent.

This policy insures your company against loss or damage to property as a direct result of fire out break, lightning or explosion.

Other perils such as social disturbances like strikes and riots, and natural disasters like storm damages, floods and earthquakes can also be covered by an extension of the standard scope of the cover.

The items to be insured are usually made up of buildings, office furniture, electrical & electronic equipment, plants and machineries, stock of raw materials and finished goods, and loss of annual rent for alternative accommodation.

The policy also contains various other extensions that are granted at minimal extra cost to the policyholder.

Industrial All risk Policy
T his policy provides cover against damages that arise from all perils covered by Fire and Special Perils policy, Burglary Insurance policy, Limited Fidelity Guarantee & Money Cover, Business Interruption due to fire and special perils policy.

Some losses are excluded and extra covers can be provided.

Burglary

T his policy is designed to indemnify the insured against loss or damage resulting from theft or attempted theft which is accompanied with actual forceful or violent entry into or out of the premises or any attempt at that place or time.

The policy covers the insured against loss or damage to his property accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat. It covers contents and stock whilst on the insured premises.

The items usually covered under this policy are similar to those under the Fire and Other Perils policy with the exception of Buildings and Loss of Rent.

Motor Vehicle Insurance
C omprehensive Policy: Covers accidental damage to the insured’s vehicle and also indemnity for damage to third party vehicle/property as well as third party personal injury/death by the insured vehicle. This is the widest form of cover.

Third Party Policy: This cover is restricted as it covers only indemnity for damage to the third party vehicle/property as well as third party person injury/death by the insured vehicle.

Third Party Fire & Theft Policy: This provides cover for accidental loss or damage to the insured vehicle arising out of fire or theft but does not cover accidental damage. The cover is also provided for all sums the insured vehicle shall be legally liable for causing accidental loss/damage to the third party property or injury /death to third party.

Goods in transit
O ur GIT policy covers goods being carried from one location to another. Any loss not specifically excluded under the policy is covered and the insurance is especially suitable for organizations that are engaged in movement of goods either by road or rail. Typically, the cover will operate whether the goods are being conveyed by owner’s vehicles or commercially hired vehicles. Losses arising from Fire and Theft are covered under this policy.

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Specialty Lines
Oil & Gas Insurance
O il & Gas insurance offers Comprehensive Packaged insurance protection for risks generated by Oil & Gas activities such as Onshore Risks, Offshore Risks, Insurance of Oil Platforms (Rigs), Pipelines, Operators Extra Expense Insurance and Oil Tankers Insurance.

It protects all parties against the financial consequences of accident which may lead to loss or damage to properties, business interruption and injury to workmen and third parties.

Aviation

A viation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation.

Bond
A bond is a guaranty taken by a company/bank against non performance on the part of a contractor. The need for a bond arises either when a party seeking a bond is obliged by contract or legislation to make a certain deposit of money as security before he could be allowed to execute certain jobs. The various classes of bonds offered are performance bond, advance payment bond, credit bond, counter indemnity or counter guarantee bond.
Marine Insurance
Y ou can get marine insurance for your imported goods or for your vessel/yacht.

Marine Cargo: The marine cargo policy provides cover for loss or damage to imported goods being conveyed by sea or air and can be taken up either as an All Risk Policy (covers total or partial loss of goods) or as a Restricted Cover Policy (covers total loss only). The premium rate applied will depend upon the nature and value of goods being imported, the type of cover required as well as the country of origin.
Marine Hull: The marine hull policy provides cover on vessels and yachts against any loss, damage or liability that may arise from their use. The scope of cover provided is either an “all risks” or “total loss only” while the policy usually carries a deductible amount of about 10% of the value of the vessel or yacht. The premium rate applicable to this policy is based on the value of your vessel, nature of vessel, use and general seaworthiness. Annual cover or short period / voyage covers are available.

Goods in transit
O ur GIT policy covers goods being carried from one location to another. Any loss not specifically excluded under the policy is covered and the insurance is especially suitable for organizations that are engaged in movement of goods either by road or rail. Typically, the cover will operate whether the goods are being conveyed by owner’s vehicles or commercially hired vehicles. Losses arising from Fire and Theft are covered under this policy.
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Engineering Insurance
Machinery Breakdown Policy
T his policy is designed to cover any damage to a plant or equipment while working or at rest, or while being dismantled for the purpose of cleaning, repairing or overhauling. In the same vein, boiler and pressure vessels can be covered under a separate but similar policy.
Electronic Equipment Policy

T his policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest.

The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such are kept within the premises.

Any increase in cost of working as a result of damage to the main computer equipment is also covered and compensation is provided for alternative means of carrying on operation.

With payment of an additional premium, this policy can be extended to cover the risk of theft.

Plant All Risk Insurance
P lant All Risk (PAR) Insurance covers the plant and machinery which a contractor needs to facilitate execution of a Contractors All Risk or an Erection All Risk project.

In most cases, these plants work under extreme environmental conditions of e.g. dust, hard terrain, slippery or wet conditions etc.and are therefore exposed to severe wear and tear as well as highly hazardous working conditions.

Contractor All risk
T his is one of the main forms of construction insurance that has been developed to meet the changing needs of the construction industry. When new buildings or civil engineering projects such as roads or bridges are being constructed, a great deal of money is invested before the work is finished.

The essence of the cover is to bridge the gap when the building or bridge sustains severe damage and to prevent such loss or damage from prolonging the construction time schedule thereby delaying the eventual completion date.

Erection All Risk

T his is the Insurance cover provided for the construction/erection of machinery, plant & steel structures involving very little civil engineering works.

There is a seeming similarity between the Contractors All Risk (CAR) and the Erection All Risk (EAR) but it is worthy of note that they are not similar.

While the CAR provides cover for civil works and mostly buildings needed to house or support the expensive machinery & equipment, the EAR covers the erection.

+
Pecuniary Insurance
Consequential loss
T his is a policy meant to cover losses sustained by Business owner/company due to loss or damage to their operational premises which led to interruption in their normal business operation and sustain losses/expenses on the areas of Loss of Profit, Wages, Auditors fee.

This could happen as a result of the operation of the Perils such as Accidental damage, Fire including Lightning & limited Explosion, Explosion (Industrial), Aircraft, Riots, Strikes, Lock-out, Malicious Damage, Earthquake or Volcanic Eruption.

Fidelity Guarantee

F idelity Guarantee policy indemnifies against infidelity of an employee which leads to financial loss. It covers for the loss of money, goods and/or stock arising from dishonesty, embezzelment or misappropriation of company’s funds &/or property by employees.

In any of these cases, the number of persons and the limit of guarantee against any one loss would be advised as well as aggregate amount of guarantee in a given year.

+
Liability Insurance
Public Liability
T his type of insurance covers any awards of damages given to a member of the public because of an injury or damage to their property caused by you or your business. It also covers any related legal liability to third party, costs and expenses as well as accidental death. The vicarious liability of the insured’s employee can also be covered provided it arose in the course of carrying out his official duties.
Product Liability

T his policy is suitable for all industries where the need for compensation on account of defective product may arise.

The policy pays for damages that the insured is legally liable to pay in consequence of accidental death/injury or disease to third parties including damage to third party property due to any defect in the products manufactured.

Exports to other countries can also be covered provided domestic sales are also covered.

Professional Indemnity
P rofessional indemnity is issued to indemnify professionals against legal liabilities or losses arising from claims over breach of duty in the course of the execution of insured’s business.

This form of policy is suitable for professionals such as engineers, architects, doctors, pharmacists, etc.

Occupiers Liability
O ccupiers’ Liability Insurance product is designed to meet the legal requirement for cover required of all building owners or occupiers for the benefit of third parties.

It covers them against the perils such as collapse, fire, storm, earthquake and flood.

The policy covers all business and office premises; residential buildings that are let out (in full or in part); recreational centers, club houses, cinema halls, etc.; schools and training institutions; and all other buildings where third parties have access as licensees, tenants, lodgers, or for educational, medical, business or recreational purposes.

Group Personal Accident
T his type of policy provides death, permanent and temporary disability benefits to employees as a result of accident during the course of employment. It is designed to improve the welfare of employees as well as reduce the financial strain on the organization in the event of accident, death or bodily injury to a member of staff.

The policy also provides cover on 24-hours basis and benefits are expressed as multiples of salaries. Cover extends to weekly benefits in the event of temporary disability resulting from bodily injury to the insured person as well as certain allowances for expenses incurred on medical treatment. Death, or injuries from natural causes are not covered.

Life & Personal Insurance
Keyman Insurance

T his is an insurance cover purchased by a company 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. The aim is to compensate the business for losses and facilitate business continuity.

A keyman can be anyone directly associated with the business whose demise can cause financial strain to the business; such person could be an employee, an owner, a director, a shareholder, etc

Benefits of Keyman Insurance

Guarantees ability to meet financial obligation
Replaces profit that ordinarily would have been lost
Provides funds for meeting the cost of replacing / training a successor

Term Life

W ith this plan, you simply choose the amount of life cover you need and the length of time for which you need it. This is the simplest and most affordable form of life insurance. This policy provides for the payment of the sum assured only if the life assured passes on within the specified period. Term Insurance does not provide any surrender value. Benefit is payable to the specified beneficiaries on the demise of the policyholder.

Savings

I t is wise to save for a rainy day, but even more important to choose the right savings plan.

Savings policies offer you a combination of returns on your medium/long term savings and Life Insurance cover.

Education

W ith education insurance, you can build up funds to finance the education of your children/wards. It also provides financial protection for your children’s education in the event of demise or permanent disability within the duration of the policy.

Mortgage Protection

I t has been designed to ensure that your family will always have a roof over their head even in the event that the unexpected happens. It is a form of decreasing Term Assurance. It is used to repay outstanding balance on mortgage when demise occurs. Eliminates the risk of one’s family losing its home in the event that you pass on before your home mortgage is paid off. Not a substitute for the primary responsibility of the borrower to repay his credit facility when alive. The benefits are paid directly to the lender i.e. mortgage institution.

Investment

T hey are investment-linked products that have been designed to help you save money according to your needs with the added benefits of affordable insurance plans.

Travel insurance

I t provides cover on medical, financial and other losses incurred while travelling outside the country of residence. It covers all travelers for holiday and business purposes in the event of accidents, sickness or loss of property.