The activities of ZIC can be broadly defined as to transact the business off a Insurance and Reinsurance of various kinds and classes.

MOTOR INSURANCE

Cover Insurance legal liability in respect of bodily injury or death to Third Parties (with certain exceptions) arising out of the use of vehicles on Public road.

 

 

The motor covers provided includes:-

Comprehensive - It covers death or bodily injury to third party and property damage to third party. It covers accidentally own damage, theft and burning of the vehicle.

Third Party only - It covers death or bodily injury

 

FIRE INSURANCE

We offer two types of covers:

Fire Standard Policy

Covers the perils of the fire even if it is not originated from the Insured premises. It can be extended to covers special Peril, riot, civil commotion, earth quake etc.

Domestic Package policy

Special tariff for house holders and House owners on various fire and domestic risks. It provided cover for the building contents, all risks. Workmen etc.

 

BURGLARY INSURANCE

Mainly for business premises, Offices, Shopd Stores Godown etc.The cause of loss can be burglary or house breaking.

Properties covered: Stock in trade, goodsheld for trust furniture fixture and fittings etc.

 

MARINE INSURANCE

Divided into three Groups:

•  Hull Insurance: Insurance of ship/Hull &Machinery and smaller vessel like bargers,craft,linghter etc,

•  Cargos Insurance:

•  Insurance of goods or merchandise imported or exported from one country to another, goods in transit etc.

•  Goods in Transit by rail road or air conveyances.

•  Goods carried by lakes steamers of inland water ways or country crafts.

•  Freight: Sum paid from transporting goods e.g. Bill loading freight.

•  Aviation: Damage to aircraft liabilities to passengers on third party or crews

 

WORKMEN’S COMPENSATION

This class of insurance provided cover for liability at law if an employees in an Insured service shall sustain bodily injury or death arising out of and in the course of his employment by the insured in the business.

 

GROUP PERSONAL ACCIDENT

The cover provides under thirds class of Insurance is the accident causing death or bodily injury. This Insurance provided the following benefits:

•  Death.

•  Disability benefits and Medical reimbursement.

 

CONTRACTORS ALL RISK INSURANCE

It provided cover for losses or damage occurring to the property insured on site during the period of insurance such losses may due to the following causes:-

•  Fire lighting, explosion crashing of aerial devises.

•  Flood rain, wind storm earthquake,landslide,rockslide,theft burglary

•  Negligence, malicious acts

 

MACHINERY BREAKDOWN INSURANCE

It covers unforeseen sudden and physical loss or damage to the insured items, such as or damage to the following:-

•  Faulty design this hardly ever discovered before a breakdown

•  Faulty material although with modern material testing techniques it has been revealed number of losses are small by faulty materials

•  Physical explosion, bursting of water tubes or industrial boilers or damage due to vacuum

•  Foreign objects, tools keys, pieces of cloth etc.

 

ELECTRONIC EQUIPMENT INSURANCE

It is essential an accident insurance on risks basis for an electronic equipment e.g. computers

Majority of losses are due to the following:-

•  Fire, Lighting explosion

•  Short circuit and humidity

•  Burglary and theft.

 

PUBLIC LIABILITY INSURANCE

This insurance indemnify insured against liability devolving on him for the injury to the person or by reason or of negligent act, error or omission by the insured.

 

DOMESTIC SERVANT INSURANCE

Insurance is granted against liability to pay compensation to the employee who sustains accidental injuries in the course of employment

 

ALL RISK INSURANCE

It covers loss damage or destruction which is due to any case including fire anywhere within the territorial limits. Covers granted in respect of Jewelers, work of art, cameras, spectacles, contact lens, music equipment, ear rings.

 

LIFE ASSURANCE

A type of insurance which Insurer's liability on human life. it is a very Reliable means of ensuring financing savings and protections for dependant incase of gold age or premature death.

The valuation exercise is being done after every two consecutive years to check for the strength of the fund.

The last valuation was conducted by QED of South Africa in December 2005 revealed that the fund has generated a surplus.