Whereas the insured, by a Proposal and Declaration which shall be the basis of this Contract and is deemed to be incorporated herein, has applied to the Company for the insurance hereinafter contained and has paid the premium as consideration for such insurance.
    NOW THIS POLICY WITNESSETH THAT in respect of events occurring during the Period of Insurance and subject to the terms exceptions and conditions contained herein or endorsed hereon (hereinafter collectively referred to as the Terms of this Policy) shall cover the following risks within the insured shop/premises/risks location.
    1. Fire, lightning, explosion, and civil commotion, thunderbolt or subterranean fire
    2. Riot, which for the purpose of this Policy shall mean:
      • The act of any person taking part together with others in any disturbance of the public peace (whether in connection with a strike or lock-out or not) not being an Excluded Peril.
      • The action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimizing the consequence of any such disturbance.
      • The willful act of any striker or locked-out worker done in furtherance of a strike or in resistance to a lock-out.
      • The action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimizing the consequence of any such act. But excluding any act of any person acting on behalf of or in connection with any organization with activities directed towards the overthrow by force of the Government de jure or de facto or to the influencing of it by terrorism or violence.
    3. Aircraft or other aerial device or any article drop therefrom.
    4. Bursting or overflowing of a water tank, apparatus or pipe excluding.
    5. Impact with the buildings by any road vehicle, horse or cattle not belonging to nor under the control of the insured or any member of his family normally residing with him.
    6. Hurricane, cyclone, tornado, or windstorm, earthquake or volcanic eruption.
    7. Theft accompanied by actual forcible and violent breaking into or out of the building insured or any attempt thereat.
    8. Personal Effects extension.
    9. Personal Accident Benefit (accidental death/injury/medical expenses).

    SECTION 1 – BUSINESS PROTECTS

    The Company will, subject to the limits of Liability, indemnify the insured against:

    • Loss of or damage to the insured building belonging to them or held by them in trust for a sum insured not above N3 million.
    • Loss of or damage to Contents/Stocks as described in the Schedule whilst contained in the warehouse, office or shop not above N3million.
    • Indemnity for Personal Effects of the insurer/any member of his employ whilst at the risk location of not more than N150,000.00
    • Accidental injury/death (including medical expenses) to the insured or any member of its employ arising from the risks of fire/theft covered under this policy up to a maximum of N50,000.00
    • Cover for Riot, Strike or Civil Commotion (excluding religious and communal riots).

    SECTION 2 – BUSINESS PROTECTS PLUS

    The Company will, subject to the limits of Liability, indemnify the insured against:

    • Loss of or damage to the insured building belonging to them or held by them in trust for a sum insured above N3million and not more than N25million.
    • Loss of or damage to Contents/Stocks as described in the Schedule whilst contained in the warehouse, office or shop above N3million and not more than N25million.
    • Indemnity for Personal Effects of the insurer/any member of his employ whilst at the risk location of not more than N250,000.00
    • Accidental injury/death (including medical expenses) to the insured or any member of its employ arising from the risks of fire/theft covered under this policy up to a maximum of N100,000.00
    • Cover for Riot, Strike or Civil Commotion (excluding religious and communal riots).

    GENERAL CONDITIONS:

    • MISREPRESENTATION
    • ALTERATION
    • CANCELLATION
    • FRAUD
    • RIGHT OF ENTRY
    • REINSTATEMENT
    • INTERPRETATION
    • INDEMNITY

    The Company may at its option repair, reinstate, or replace any property so described lost or damaged or may pay in cash the amount of the loss or damage.

    • CONTRIBUTION
    • SUBROGATION
    • UNDER INSURANCE
    • ARBITRATION
    • NOTIFICATIONS

    GENERAL EXCEPTIONS:

    The Company shall not be liable in respect of:

    Any accident, loss, damage, expense, liability or bodily injury occasioned by or through or in consequence directly or indirectly of: War, Invasion, act of foreign enemy hostilities or warlike operations (whether war be declared or not), Civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, military or usurped power.

    This Policy does not cover damage to any dynamo, transformer, motor, wiring, main or other electrical appliance directly caused by short-circuiting, excessive pressure or leakage of electricity but this exclusion does not apply to damage thereto by resulting from such causes and originating outside the appliance.

    NOTE:
    In any action, suit, or other proceedings where the Company alleges that by reason of the provisions of this General Exception any accident, loss, damage, expense, liability, or bodily injury is not covered by this insurance, the burden of proving that such accident, loss, damage, expense, liability or bodily injury is covered shall be upon the insured.

    Any accident, loss, damage, expense, liability or bodily injury occasioned by or through directly or indirectly of confiscation commandeering or destruction of or damage to the building contents by order of Government demure or de facto.

    Any accident, loss, damage, expense, liability or bodily injury directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material, ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste of nuclear fuel.

    Consequential loss or damage of any kind.

    Marine Insurance risks.

    Pollution damage/liability.

    All risks falling under the market agreement exclusion risks.