Ethiopian Insurance Corporation - EIC

Ethiopian Insurance Corporation - EIC Ethiopian Insurance Corporation (EIC) was established by proclamation No.68/1975 on the 1st January 1976.

Ethiopian Insurance Corporation (EIC) was established in 1976 by proclamation No.68/1975. The Corporation came into existence by taking over all the assets and liabilities of the thirteen nationalized private insurance companies, with Birr 11 million (USD 1.29 million) paid up capital aiming the following objectives. Engage in all classes of insurance business in Ethiopia;
Ensure the insurance se

rvices reach the broad mass of the people;



Subject to the provision of Article 18 of the Housing and Saving Bank establishment proclamation No. 60/1975, promote efficient utilization of both material and financial resources. EIC was operating the business for about nineteen years under protected monopolistic system as state owned-sole insurer. After the demise of the Marxist regime in mid-1991 a fundamental change has taken place and there was a shift in political, economic and social orientation from totalitarianism to that of liberalism. Therefore, EIC was re-established as public enterprise under proclamation number 201/94 with Birr 61 million (USD 7.13 million) paid up capital. Upon re-establishment of the Corporation in 1994 as state owned enterprise, the law covers the following new objectives to the Corporation:



Engage in the business of rendering insurance services;
Engage in any other related activities conducive to the attainment of its purposes.

Address

Addis Ababa
2545

Telephone

+251 11 5512400

Website

Products

MAJOR TYPES OF COVER

EIC provides Long term, Property and Liability Insurance covers.

General Insurance Policies

All Risks
Aviation (Cargo & Hull)
Bankers Blanket Policy
Burglary & House Breaking
Bonds
Condominium Insurance
Consequential Loss (Business Interruption)
Crop Insurance
Engineering

Boiler Insurance
Contractors All Risks
Contractors Plant & Machinery
Deterioration of Stock
Erection All Risks
Electronic Equipment Insurance
Machinery Breakdown
Machinery Loss of profit

Fidelity Guarantee
Fire and Allied Perils
Goods-in-Transit
Horticulture-Plantation Insurance Policy
Inland Carriers Liability
Live stock
Marine (Cargo and Hull)
Money
Motor
Personal/Group Personal Accident
Plate Glass
Product Liability
Professional Indemnity
Public Liability
Warehouse Operators Liability
Weather Indexed
Coffee Plantation
Tea Plantation
Cotton Plantation
Exhibition & Bazaar
Workmen’s Compensation etc.

LONG TERM INSURANCE POLICIES

Endowment

Ordinary Endowment
Anticipated Endowment Policy (with profit)
Children’s Education Policy (with profit)
Endowment Annuity
Joint Endowment
Joint Annuity
Group Endowment

Term

Individual Term Life Assurance
Group Term Life Assurance
Modified Large Group Term Life Assurance
Individual Mortgage Protection Assurance
Group Mortgage Protection Assurance
Joint Mortgage Protection Assurance etc.

Whole Life Assurance

Medical

Individual Medical Assurance
Group Medical Assurance
Executive Medical Assurance
Travel Health Insurance etc.

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