This type of insurance pays for medical expenses, including hospitalization, prescription drugs and surgeries. Health insurance is essential for individuals and families as it helps in managing medical expenses in case of illness or injury.
Life insurance provides a payout to beneficiaries upon the death of the policy holder. It is an important part of estate planning and can help cover expenses such as funeral costs, debt repayments and estate taxes.
a. Group /Individual life
b. Credit Life
c. Key man insurance
d. Group funeral/last expenses
This type of insurance covers property against loss, damage or destruction from a wide range of perils such as fire, theft, natural catastrophes, and more. It is one of the most common types of insurance products and is essential for homeowners, renters and business owners alike.
a. Fire and Perils Insurance/Business interruption
b. All risk Insurance
c. Engineering and Machinery Breakdown insurance
d. Burglary/Theft Insurance
e Domestic/household insurance
f. Glass insurance
g. Money insurance
Auto insurance covers damages to vehicles, medical expenses in case of accidents, and liability arising from bodily injury or property damage caused by an insured vehicle. It is mandatory for vehicle owners in many countries.
a. Private motor insurance
b. Commercial motor insurance
c. Public motor insurance
d. Motorcycle insurance
This insurance protects against liability for negligence, errors and omissions or other types of professional mistakes that result in damage to others. It is essential for many types of businesses, particularly those in the service industry.
a. Workman’s compensation
b. Employers Liability insurance
c. Public liability
d. Directors and officers liability
e. Product Liability insurance
f. Professional’s indemnity insurance
g. Fidelity guarantee insurance
h. Group personal accident
Business Interruption Insurance:
This type of insurance covers a business against financial losses resulting from disruptions to normal operations due to perils like natural disasters or other catastrophes.
Travel insurance provides coverage for unforeseen events such as trip cancellations, medical emergencies, lost baggage, or delays. It is essential for those traveling abroad, particularly for extended periods.
Cyber Liability Insurance
This type of insurance provides protection and coverage for businesses that face cyber risks arising from data breaches, network failures, and cyber-attacks. It is essential for businesses of all sizes due to the increasing number of cyber threats.
This insurance provides income replacement for people who become disabled and are unable to work. It is essential for those who rely solely on their income and cannot afford to lose their income stream due to a disability.
is a financial guarantee whereby an insurance company guarantees scheduled payments of the principal and all associated interest on a bond or other security in the event of default by the issuer of the bond or security.
a. Performance bond
b. Custom bonds
c. Bid bonds
d. Advance payment bond