About Shield Insurance Brokers Limited
Shield Insurance Brokers and Risk Management Company Limited
(SHIELD) is a Ghanaian Insurance Brokerage firm incorporated on 17th September,
2008 as a Limited Liability Company under the Companies Code of Ghana, Act 179
of 1963 and it started operations in April 2009.
The Company is authorized to carry on the business of Insurance Brokerage, Risk Management Services, and Business Consultancy Services and as required, it is licensed under the Insurance Law, Act 724, 2006 to carry on composite insurance brokerage business in Ghana.
Products of Shield Insurance Brokers
A. PERSONAL INSURANCE
Shield Insurance Brokers provides a Personal insurance policy. Check out the details below:
1. Family Income Protection Plan
This life insurance plan is designed to serve as a regular
income if the life Insured suffers illness or accidental injury leading to
incapacity and a loss of earnings. The policy pays a lump sum in the event that
the policyholder dies or becomes permanently disabled.
2. Burglary
This insurance indemnifies you against loss, destruction or
damage to your insured property from theft or attempted theft involving entry
or exit from the premises by forcible and violent means.
3. Home Insurance
As a package policy, a home insurance policy covers your
building and household contents against fire and its associated perils as well
as loss resulting from burglary. At the option of the insured, the policy could
be extended to cover the insured’s legal liability to third parties who visit
their home. Where the insured’s home becomes uninhabitable following a loss,
the policy could further pay for the cost of seeking alternative accommodation.
The home insurance policy also covers personal accidents that the insured, their
spouse, and children may suffer.
4. Travel Insurance Policy
This policy provides a worldwide protection cover for anyone
intending to travel outside the borders of Ghana. The policy provides cover for
accidental death and permanent disablement, bodily injury, emergency services,
medical expenses arising from an illness, hospitalization costs, repatriation
to Ghana after treatment, repatriation of policyholder's corpse or ashes to
Ghana, repatriation of the child(ren) of policyholder insured under the policy,
baggage loss, hijacking, etc
5. Funeral Insurance
Funeral Plan is a life insurance policy designed to provide
payment of a lump sum when any or all of the life insured under the policy pass
on (dies). These could be the principal life and or their, spouse, biological
children, biological parents, or parents-in-law. It could also be extended to
cover other family members.
6. Personal Accident
Personal injuries can adversely affect your earning
capacity, well-being, and lifestyles of your family in many ways. Personal
accident insurance is a 24-hour cover that compensates you against sustained
bodily injury caused by a violent accident of external and visible means if it
results in death, permanent or temporary total disability, and corresponding
medical expenses.
7. Fire & Allied Perils / Assets All Risks Policy
This policy protects the assets of the insured against losses resulting from fire, lightning, explosion, flood, windstorm earthquake, bursting or overflowing of water, impact damage, and damage from aerial devices
The Assets All Risks component is a special policy usually
designed to provide cover against a wide range of perils. It is restricted only
by those specifically excluded in the policy. It can be designed to cover Fire,
Lightning, Flood, Theft, Malicious Damage, Earthquake, Riots and Strikes, Burst
Pipe, Impact, and many others.
8. Motor Insurance
The motor insurance policy covers the legal liabilities of
the insured as a result of the use of a vehicle. Depending on the type of
policy opted for, the motor policy could further provide cover for damage to
the insured’s own vehicle. The types of motor policies are Third Party, Third
Party Fire and Theft and Comprehensive.
9. Critical illness
This is a policy designed to take out the financial
burden on individuals and their families in the treatment and management of
critical illness or dread diseases when either the individual or a family
member is diagnosed with any of the conditions classified under dread or
critical illness. The policy pays out a lump sum amount for the treatment of heart
attack, cancer, stroke, Alzheimer's, Parkinson's, Kidney failure, Coronary
artery disease requiring surgery, Paralysis, Major organ transplant, Multiple
Sclerosis among others.
10. Child Education
Educational Policies are intended to support Parents and
Guardians fund their children/ wards education in the future to any desired
level. The policy usually comes with an educational Fund and/ or life insurance
benefit on the life assured. This is intended to support the education of the
child should the Parents or Guardians dies earlier than the maturity date of
the policy. Other optional benefits like Double Accident Benefit, replacement
of child, Premium Waiver, etc. may be added
11. Mortgage Insurance
This policy provides protection against repossession (by the
lender) of a property acquired through mortgage loan should the death of the policyholder (borrower) occur before the full repayment of the loan or end of
term of the mortgage.
In such an event, the outstanding mortgage loan balance would be paid on behalf of the deceased policyholder to protect his estate
B. CORPORATE INSURANCE
Shield Insurance Brokers provides the following Corporate insurance policies:
1. Credit Life / Loan Protection
Covers debts payment on loans if the insured losses their
ability to pay due to an insured event which may include, Death (Natural and
Accidental Causes), Total and Permanent Disability, Accidental Temporary
Disability, Critical Illness, and Loss of income (Retrenchment) among others.
2. Workmen's Compensation
The Workmen’s Compensation policy covers the liability of
Employers for death, injuries, or diseases that their employees shall sustain
which arise out of and in the course of their employment.
3. Fidelity Guarantee
This policy provides compensation for any financial loss
that result from fraudulent or dishonest acts committed by your employees.
4. Contractors / Erection All Risks
This policy provides cover for loss of or damage to contract
works that occur in the course of construction. Such works include civil
works, erection, and installation of plants and steel structures, etc. It
further extends to cover third-party liabilities for death, bodily injury, and
property damage that arise during the construction/erection period.
5. Business Interruption
A business interruption policy pays for income lost when a
business is interrupted by an event covered under the policy. Such an event
could be fire or a natural disaster that in insured against. This policy is not
sold separately but is added to a material damage policy purchased by the
insured.
6. Public and Product Liability
The Public liability policy covers a business for their
legal liabilities to third parties for accidental death, bodily injury, and property
damage that occur in connection with the insured’s business. The Product
liability policy further covers the insured for legal liabilities to third
parties for accidental death, bodily injury, and property damage that results
from products they manufacture, sell or supply. The policy extends to cover
legal costs and expenses incurred by the insured which the insured shall be
legally liable to pay.
7. Professional Indemnity
A professional indemnity policy covers an insured for their
legal costs and expenses which they shall become legally liable to pay arising
from any negligent acts, errors or omissions which occur as a direct result of
the professional conduct of their business.
8. Group Accident Cover
A group personal accident policy provides a 24 hour
worldwide cover to the insured for death, injury, temporary total disability or a permanent disability that results from any accidental, violent, external and
accidental means. At the option of the insured, the policy could be extended to
cover medical expenses that the insured incurs from undergoing treatment after
an accident.
9. Comprehensive Group Life
The Comprehensive Group Life Policy is a 24 hour worldwide
and all-inclusive policy that covers employees against Death (Natural and
Accidental Causes), Total and Permanent Disability, Accidental Temporary
Disability and Critical Illness. It could be extended to cover all provisions
under the workmen compensation law and families members of employees. It covers
the employee both on and off working hours.
10. Marine (Cargo and Hull)
The marine cargo policy covers you against the perils of sea
and air whilst your goods are being conveyed from its origin to their
destination. Cover could be from warehouse-to-warehouse, warehouse-to-port, or
port-to-port.
The marine hull policy also covers waterborne crafts or
vessels against risks such as fire, collision, capsizing, etc. It covers all
sizes of crafts ranging from bulk carriers, fishing vessels, tanker ships to
yachts, cruise ships, etc
11. Travel Insurance Policy
This policy provides a worldwide protection cover for anyone
intending to travel outside the borders of Ghana. It provides the following
benefits: Medical expenses arising from an illness(es), bodily injury, and or
hospitalization costs, Repatriation to Ghana after treatment, Repatriation of
policyholder's corpse or ashes to Ghana, Repatriation of the child(ren) of
policyholder insured under the policy, Baggage loss/delay, Personal Accident,
loss of passport, etc.
12. Bonds
We assist our clients to secure any type of bond they may
need for their projects; whether they operate in the building and construction, the petroleum industry, etc. The construction bonds include bid bonds, performance
bonds, Advance Payment / Mobilization bonds, and Retention bonds. The custom
bonds, as required by the Ghana Revenue Authority, consist of Warehouse /
Security bonds, Removal bonds, Transit bonds, Temporary importation /
Re-exportation bonds
13. Cash-In-Transit
MONEY INSURANCE: This policy covers the insured against
accidental loss of or damage to their cash, bank, and currency notes, cheques,
postal orders, money orders, etc, whilst in transit from one specified location
to another. The policy further provides cover for loss of the insured’s money
being kept in a safe or strong room. Additionally, the policy extends to cover
the insured’s money which is lost from a till following a theft or threat of
it.
14. Goods-In-Transit
This policy covers the insured’s goods against loss or damage
resulting from fire, theft, or accident to the carrying vehicles whilst being
transported from one location to another within Ghana.
15. Plant and Machinery
This policy protects construction plants, machinery and equipment against accidental loss or damage resulting from an event that is not excluded under the policy. The cover is provided for machinery such as graders, excavators, cranes, forklifts, etc whilst at work, at rest, or during maintenance operations.
Shield Insurance Brokers provides the following Health insurance policy:
1. Health Insurance Cover
Health insurance is an insurance product that covers the medical and surgical expenses of an insured individual. The individual may be
an employee of an organization or a member of a family. It reimburses the
expenses incurred due to illness or injury or pays the care provider of the
insured individual directly. No one plans to get sick or hurt, but most people
need medical care at some point. Health insurance covers these costs and offers
many other important benefits.
- Covers essential health benefits critical to maintaining your health and treating illness and accidents.
- Protects you from unexpected, high medical costs.
- Payless for covered in-network health care, even before you meet your deductible.
- Free preventive care, like vaccines, screenings, and some check-ups, even before you meet your deductible.
Shield Insurance Brokers provides the following Special risk policy:
1. Risks Cover
Special risk insurance refers to an insurance policy that is non-traditional or unusual because the person or entity insured is more exposed to certain risks. These unusual risks might be attributed to the dangerous nature of the insured's profession or industry. Insurance companies cover risks like death, sickness, and property damage. But when an individual or an organization comes into close contact with these risks on a regular basis, they might require special risk insurance. A professional boxer, for example, is likely to suffer bodily damage sooner and more frequently than an office worker. While traditional life or health insurance will be suitable for the latter, the boxer will require special risk insurance. Because of the higher likelihood and frequency of claims, premiums for special risk insurance are more expensive.
How to make Motor Claims Shield Insurance Brokers
1. Report all accident to the police as required by law
2. Do not admit/accept liability
3. Notify us immediately, complete and submit all relevant documentations
4. When police have released the vehicle take it to the garage of your choice and obtain a repair estimate
5. Send your repaired estimate to Shield promptly
6. An assessor from the insurance company will verify before authorization can be agreed
7. After repair works (in the case of comprehensive) a discharge note is signed after which the cheque is issued or a satisfaction note is signed before the vehicle is released to the insured.
Contact Details of Shield Insurance Brokers
You may contact Shield Insurance Brokers Limited through the contact addresses provided below:
Physical Address
Kangaroo House,
Adjacent Manet Court Flyover, off Spintex
Road, Accra
GhanaPost GPS: GZ-125-5308
Postal Address
P. O. Box GP 13197,
Accra - Ghana.
Telephone
+233 54 435 6888
Email
info@shieldinsurancebrokers.com.gh