Oceanic Insurance Reforms
We have been restructured to optimise the inherent opportunities within our Group and positioned to deliver world-class insurance services to the country. This is reflected in our governance structure, management team (People) and technology.. more »
Oceanic Recruits
We provides equal opportunity for employment and promotion to all qualified candidates. Oceanic Insurance's policy is to employ the best qualified people possible to fill present and future vacancies. more»
ALL RISK INSURANCE:
This covers loss or damage by any cause not specifically excluded in the policy in respect of specified items: Jewelries, Watches, Cameras, Trophies, Gold & Silver articles, Work of Art and other Personal valuables and effects.
Cover could be limited to Nigeria or extended on worldwide basis.
UNDERWRITING CONSIDERATIONS/REQUIREMENTS
1. Moral Hazard
2. Proposer’s character and standing
3. Occupation
4. Address
5. Insurance History
GROUP/PERSONAL ACCIDENT INSURANCE:
This policy provides cover on a 24 hours basis to:
- Bodily injury to the employees of the insured as a result of accidental; violent; external and visible means resulting in death or disablement.
- Medical expenses in connection with an injury by accident within the meaning of the policy
The Range of benefits provided are as follows:
1. Death
2. Permanent Total Disability
3. Temporary Total Disability
4. Medical Expenses
UNDERWRITING CONSIDERATIONS/REQUIREMENTS
1. Occupation
2. Age
3. Physical conditions and medical history
4. Hazardous activities undertaken
5. Previous insurance history.
GOODS-IN-TRANSIT INSURANCE
This policy provides cover in respect of loss or damage to the insured goods whilst in transit as a result of:
- Fire
- Collision or overturning of the conveying vehicle (s)
- Theft
UNDERWRITING CONSIDERATIONS/REQUIREMENTS
1. Nature of the goods
2. Transit limits
3. Estimated annual carryings
4. Drivers
5. Moral Hazard
6. Maintenance of vehicles
7. Security of the vehicle
8. Loading of goods
MONEY INSURANCE
This policy provides an “all risks” cover to protect money/cash against the risk of loss whilst;
- In transit (being moved from one location to another)
- At premises (outside the safe but within the premises during business hours)
- In security locked safe ( at specific locations and/or strong room)
- In personal custody (of responsible officers, up to a specified limit, who have to carry cash in the course of their regular work)
- Damage to safe
UNDERWRITING CONSIDERATIONS/REQUIREMENTS
1. Distance between the bank and the proposer’s premises
2. Frequency of transits
3. Limit per carrying
4. Estimated annual carrying
5. Security employed while money is in transit
6. The type/quality of safe
7. Maximum amount at risk
FIDELITY GUARANTEE
This policy indemnifies the insured against loss of money/goods as a result of fraud/dishonesty of an insured employee.
UNDERWRITING CONSIDERATIONS/REQUIREMENTS
1 Application’s form
2 Referees form and past employers form
3 Employer’s form
4 The system of check and control
