Pursuant to the corporate objects listed above, PIC. is involved in the following activities;

(a) Provision and marketing of

(i) General Insurance Products

Motor

The different types of cover granted under our Motor Insurance are:-

(a) Comprehensive

This policy covers a policyholder’s vehicle (s) against loss or damage, accident, bodily injuries or death to third parties, accidental damage to the property of third parties, as well as the payment of medical expenses to the policyholder or his/her driver in event of an accident.

(b) Third Party, Fire and Theft:

This policy grants indemnity in respect of loss or damage by fire to the insured vehicle as well as liability for death of or bodily injury to third parties and also for damage to property of third parties and theft.

(c) Third Party

This cover grants indemnity in respect of legal liability for death of or bodily injury to third party and also for damage to the property of third parties.

Fire

Our fire insurance policy will protect policy holders against any outbreak of fire that causes damage to their property. The Policy can be extended to cover other perils like flood, earthquake, windstorm, tornado, aircraft falling there from, explosion etc. At your request, you may insure the building or its contents or both.

Burglary

Our Burglary policy offers protection against any loss or damage due to theft. The loss by theft is consequent on actual forcible and violent entry of the premises and damage to the premises and to the insured property of the premises.

Homeowners Policy

The Provident Home Owners Policy is a comprehensive insurance policy which covers your home and its contents against fire and lightening, Hurricane and/or Windstorm, Explosion, Bursting or Overflowing of Water Tanks or Pipes, Riot, Strikes and Civil Commotion, Flood, Impact, Earthquake and Volcanic Eruption, Aircraft. Burglary (including Armed Robbery), malicious damage, personal liability, theft, personal accident, etc

Cash-in-Transit

This policy covers any loss or damage to cash being transferred from one premise to another. This covers monies being sent from office to the bank and vice-versa. If requested, the policy also covers the maximum amount that would be kept in the safe.

Goods-in-Transit

This covers loss or damage to good carried from one place to the other. (i.e. whilst loading, in-transit, off-loading). Thus the transportation / distribution of materials can be covered under our

Goods-in-transit policy.

Workmen Compensation/Employer’s Liability Every employer is under obligation to put in place adequate measures to ensure the safety to employees at work. The employer is therefore liable for bodily injuries, disease etc. to employees in the course of their employment. This liability can be transferred to an insurance company by taking the workman’s compensation – (W.C.) cover. Our cover provided under the W.C. also pays reasonable legal cost and expenses which may be incurred in connection with a claim/loss.

Personal Accident

The personal accident insurance policy provides 24 hours cover for a director, a partner or an employee (i.e. Benefits are payable following any accident) and covers risk such as death, permanent and temporary disablement and medical expenses etc. The cover can be provided for all employees i.e. (Group) specified individual or categories

Public Liability/Product Liability

Provides cover for Death or bodily injury (except injury for which compensation is being claimed by the injured person or any dependent from the Insured under any Workmen's Compensation Act) to any person who is not a member of the Insured's or engaged in his service at the time of the injury and Damage to property not belonging to the Insured or a member of the Insured's family and not being in the charge or under the control of the Insured or of a person acting on behalf of the Insured.

Contractor All Risk/Erection All Risk

It is property insurance by which any building or civil engineering project under construction is protected against accidents resulting in physical damage to or the destruction of works in progress, materials and other similar items brought to site. It can be extended to cover Third Party Liability. It is an all risk policy. Construction works and materials used are very expensive and as such there should be an insurance cover for them in case of any mishap.

Plant and Machinery/Machinery Breakdown

The emergency policy covers sudden and unforeseen damage from any accidental cause arising out of specific item of machinery and plant. Free inspection service by experts in arranged to prevent the occurrence of mishaps.

Professional Indemnity

The professional indemnity covers the liability of the professional for the payment of damages arising out of negligence either by the insured or his servant, assigns or agent. The policy therefore assures the professional of continuity of his or her business and freedom from anxiety.

Marine Insurance

It compensates for financial loses resulting from loss of or damage to goods arising out of maritime disaster. The policy may also be extended to cover loses arising from road conveyance from the warehouse of the exporter to the port and / or from the port to the warehouse of the importer. Depending on the terms of sale, loss of freight and cost of insurance may also be insured by either the exporter or the importer. This covers loss or damage to the hull and machinery of shipping or fishing vessels, Travelers, Barges and River crafts on the lakes. It also covers costs incurred on steps taken to reduce loss after incidents, which may lead to a claim (sue and labour). Vessels under construction, repairs can also be insured

Bonds And Guarantees

We guarantee financial protection to contractors should they fail to perform its contractual obligations. It assures the beneficiary against loss up to a specified amount resulting from the failure of the guaranteed performing the prescribed obligation or undertaking.

Types of Bonds

Bid or Tender Bonds, Performance Bonds, Advance Payment Bonds, Retention Bonds, Customs Bond, Supply Contract Bond.