INSURANCE PROPOSAL
We are happy to introduce to you Provident Insurance Company Limited, which was incorporated in the year 1981, and is registered to underwrite all lines of General Insurance businesses. We feel privileged to seize this opportunity and present this proposal to you. It is aimed at teaming up with you to address your insurance needs in a very comprehensive manner that will guarant
ee you, your peace of mind.
1. Assets All Risk
This provides the widest form of insurance cover for properties including buildings and their contents employed in your business. This policy will protect the buildings and the contents against accidental damage, any loss or destruction caused by burglary or theft, fire and the allied perils like explosion, flood, rainstorm etc
2. Commercial Property Insurance
The Insurance Act of 2006, Act 724, requires all private commercial buildings and private commercial buildings under construction should be insured. The legal provisions of the Act (sections 183 and 184) are compulsory and all are expected to comply. The Commercial Property Insurance covers the following risks:
• Fire and Allied perils
• Collapse of Buildings
• All Liabilities of the insured in respect of damage to properties of third parties and/or death/injury to third parties
A Certificate of Insurance with security features will be issued as evidence of the insurance and must be displayed or produced for inspection by relevant authorities. The certificate is a prerequisite for obtaining fire certificate from the Ghana National Fire Service.
3. Motor Insurance
This is a compulsory insurance in the country and will be issued alone. We are ready to offer you our competitive rate and discounts for comprehensive cover which shall give protection against physical damage or loss of the insured vehicle through collision, fire, theft, flood etc. Your legal liabilities to third parties for property damage or death and bodily injury are also taken care of by the cover.
4. Personal Accident
The Personal Accident Insurance policy will provide 24 hours cover for staff. The benefits are payable following any accident, and covers risk such as death, permanent and temporary disablement as well as medical expenses. The cover can be provided for all staff in a form of a group scheme as Group Personal Accident Insurance especially for management staffs who normally work beyond official hours. Junior staffs who normally work under instructions from management within specific working hours can be insured under the Employer’s Liability Insurance Cover (Workmen’s Compensation Insurance) to meet the minimum requirements under the labour laws for liability towards such category of employees for injury, sickness or death.
5. It will cover your imports comprising inputs that will be sourced from outside the country and meant to be used as capital assets or consumables. The ratings in respect of the above recommended policies are as follows:
1. Assets All Risk : 0.25%-0.4%
2. Commercial Property Insurance
a. Building (Fire & Allied Perils) : 0.15%
b. Collapse of Building : 0.025%
c. Civil Works (Renovation) : 0.125% (on Total Cost of Renovation)
d. Public Liability (GH¢20,000) : 0.5% (for TPPD, Death & Bodily Injury)
e. Fire Maintenance Fund : 1% (of Premium Payable)
f. CPI Certificate : GH¢3.00 (for Property and Public Liability)
3. Motor Insurance :
a. Basic rate : 5%
b. Discount : 25%
c. Fleet discount : 15%
d. Extra TPPDL : 1%
e. Extra PA Benefit : 1% of limit of benefit
4. Personal Accident
(i) Clerical staff : 0.5%
(ii) Drivers/Labourers : 0.75%-1.0%
5. Marine Cargo : Negotiable
A customer service team ( Bismark Ansah-233241852375)
will be in place to attend to the needs of your company to ensure true customer satisfaction is delivered at all times. We are indeed poised to render quality service to you and your company. Please do not hesitate to contact us should you have any queries. Thank you. Yours faithfully,
Mr. Bismark Ansah
Marketing /Corporate Relations
