We offer various accident policies, including:
The Workmen’s Compensation Act (Act 174) as amended by PNDC Law 187 (1987), makes it mandatory for employers in Ghana to compensate their employees for accidental injury suffered in the course of, and arising out of employment and death.
The business organisation taking this policy passes on to the insurer, the payment of all liabilities as they occur. This policy covers employees during working hours only.
As the name suggests, the Phoenix Group Personal Accident policy, is for any group of people being covered under one policy.
The policy provides a 24-hour cover against all accidental injury suffered in the course of, and arising out of employment and death. The organization taking this policy passes on to the insurance company, the payment of all liabilities as they occur.
The Policy could be taken on either:
- A fixed sum (in which case the proposer indicates the estimated sum assured for persons to be covered), or
- Annual salaries (or multiples)
The premium payable for a Group Personal Accident policy shall be based on:
- The total sum insured for all the staff covered;
- The estimated annual salaries, and
- The nature of work.
This policy is an all-risk cover for money in transit, being carried by the insured or his authorized representative. It may be money being carried from the office to the bank, from bank to the office, or from the office to another branch (such as for the payment of wages).
This can be extended to cover cash in safe at a named premises or location.
This is an insurance policy against loss arising out of acts of dishonesty or disloyalty of an employee to an insured employer.
The policy indemnifies the insured employer against direct financial loss, and loss of stock, which might result from acts of dishonesty, fraud, misappropriation or embezzlement in the course of an employee’s formal duties.
There are two (2) types of policies here:
- Business Premises, and
- Private Premises.
The Burglary policy covers property stolen from the premises of the insured through forcible and violent means, as well as damage to property or premises because of the burglary.
The following information will be required for a burglary policy to be underwritten:
- Name of item;
- Make of item;
- Value of item, and
- Serial number of item.
This policy provides cover to the insured against loss of, or damage caused by any accident or misfortune not excluded by this policy, whilst the property is in transit, is being loaded onto, or unloaded from the vehicle.
The following information will be required for a Goods-in-Transit policy to be underwritten:
- The extent of the journey;
- Exact mode of transit;
- Full description of goods;
- Total value of the goods, and
- Nature of packaging of goods.
This policy provides protection against liability at law owed to third parties. The policy is very useful to employers, especially where the business premises are used by a large number of customers and the public (as in the case of hotels, sports stadia, cinema houses, restaurants, night clubs, and corporate offices).
This policy may be extended to cover pollution liability – in the case of the oil and gas industry.
This policy covers the legal liabilities of the insured arising from defects in products (s)he has manufactured and supplied resulting in the death or bodily injury and loss, or damage to the property of the final consumer.
This policy provides cover for loss arising out of all manner of accidental, electrical and mechanical breakdowns, due to internal and external factors.
Cover is granted during the time the machinery is in operation or rest, or in the process of dismantling, overhaul, or during subsequent re-erection at the same premises.
This policy provides cover for loss or damage to contractors’ plant and machinery due to accidental and external factors.
The cover operates when the insured property is working or resting or being dismantled for the purpose of cleaning/overhauling, and during subsequent re-erection.
The policy provides cover for accidental damage to the works as well as loss and damage to unfixed materials or equipment on site. The cover may be extended to cover contractors’ plants and equipment, as well as third party liabilities to visitors and their property to the construction site.
The Phoenix Professional Indemnity Policy is useful to professionals such as doctors, lawyers, pharmacists, architects, accountants, insurance brokers and agents, etc.
The policy covers the liability of a professional for the payment of damages arising out of professional negligence either by the insured or his servant, assigns or agents. This policy therefore assures the professional of continuity of his/her business and freedom from financial anxiety.
This policy provides compensation for accidental death or bodily injury to the insured, as well as loss of or damage to his baggage, plus medical expenses incurred while on a trip.