Cosmic Insurance Brokers has been committed to providing quality insurance coverage backed by our commitment to On Your Side® customer service.
Whether its protection for your home, auto, farm/ranch or business, Cosmic’s broad portfolio of personal and commercial products has the flexibility to meet your insurance needs.

Our corporate headquarters are located in , Nigeria,with regional offices in Lagos, Abuja; Kwara, Port Harcourt; and Kano. Our regional presence gives us expertise in your local market, so you know you're receiving top value for your insurance naira.

We carry on a tradition of service and integrity that is more than 25 years strong, and we view every point of contact with you as an opportunity to extend that reputation.
By listening to you, and understanding your needs, we develop insurance solutions that meet or exceed your expectations.

 

ABOUT THE CLASSES OF INSURANCE TRANSACTED BY THE COMPANY
We transact all classes of Insurance and in order to acquaint you with the coverage, purpose and benefits of some of them, find below a brief write up on the different types of insurance that are available in the present mark

WORKMEN COMPENSATION INSURANCE
This class of insurance provides cover against injuries or death of staff resulting from accidents or disease at work. it does not however cover them against any such risks whilst they are not on duty. This in effect implies that it is a type of duty risk coverage. This is because employers are generally required by law under the worm en's compensation ordnance to protect their employees against injuries or death resulting from occupational hazards sustained in the course of their duty.

GROUP PERSONAL ACCIDENT INSURANCE
Every accident which results in disablement from work (either partial or total) gives rise to less to loss of earning capacity temporarily or permanently. Personal accident insurance meets employer's need for cash benefits to provide for such losses either to victim or his dependents in the event of death.

This particular scheme has advantages over the workmen compensation insurance. Whereas the Workmen Compensation Insurance for example, provides indemnity against accidents resulting in disablement or death only when the victim sustains such mishap in the course of his duty, Group Personal Accidents extends beyond the normal working hours and covers a period of 24 hours. It provides indemnity against accidents not whilst the employee is on duty but even whilst he is in private home or enjoying his leisure outside business hours as weekends etc.

Another advantage is that it provides cover for all categories of staff from the cleaner to the CHIEF EXECUTIVE or members of BOARD of DIRECTORS except that the benefit to be enjoyed by such staff could be varied according to status or earning capacity.

The major risk provide against are:-
(b)    Death (in case accidents results in dealt within twelve months of accidents)
(c)    Permanent Disablement (occurring within twelve months of accident)
(e)    Temporary Total Disablement
(f)    Medical Expenses.

PENSION SCHEME

The retention of loyal and hardworking staff is a prerequisite for a stable and progressive organization or company. To do this, a well-designed pension Scheme is the answer. If an employer has a minimum of 5 or more staff and check labor turnover, thereby achieving maximum productivity and output.

There are generally two types of pension Scheme. These are the Contributory and the Non-Contributory. Under the contributory, the employer and the employee both contribute to the scheme on an agreed proportion or percentage of the staff salary. The non - contributory type is however completely taken over by the employer and fully paid for him.

LIFE ASSURANCE
We handle Life Assurance for staff either individually or group. The latter is suitable where some member's in an organization are not yet ripe to join the pension scheme or where organization is still too young to operate a pension scheme. Group Life Assurance is an annual contract, which provide for death in service only. In this aspect, it is often referred to as temporary life Assurance. It could however be tailored to incorporate Endowment benefits etc.

MOTOR INSURANCE
This is the most popular type of insurance among the insuring public. It also generates the greatest controversy between the insured and the insurers. We, as professionals, stand to advice you appropriately and furthermore, to handle and manage all claims instantly and effectively Free- of-charge.

STAFF FLEET VEHICLE INSURANCE
The staff and employers derive a lot of advantage under this policy. The staff will enjoy discounts - No Claim (NCD) as well as Fleet Discount, which would not be possible outside the scheme, because a single vehicle owner can not enjoy such plurality discount. The employees will also enjoy a secured type of policy at comprehensive level throughout the period of the loan scheme. it is therefore advisable that fleet insurance policy be taken up by the employer/staff.

FIRE & EXTRANEOUS PERILS INSURANCE
This types of policy provide cover for material loss or. THE INDEMNITIES FOR SUCH LOSSES are available for both business premises and private dwellings and their contacts. Cover can also be extended to indemnity against loss resulting from special perils such as Explosions, Riots, Strike, Tornadoes, Malicious Damages, etc.).These are usually called extraneous perils).

CONSEQUENTIAL LOSS OR LOSS OF PROFITS INSURANCE.
This policy is provided to cover loss of use resulting from fire policy does not cover. it helps the retain the ordinary fire policy does not cover. It helps the insured to retain skilled staff, maintain fixed expenses following business interruption after fire disaster and at the same time, have a comfortable rehabilitation period

BURGLARY AND HOUSE BREAKING INSURANCE
The growth in crime in recent years has meant that burglary insurance has become reasonably and increasing necessary for both private dwelling and business premises. The increasing incidents of major thefts and sophisticated robberies by armed gangs, is a pointer that hardly could be find any dwelling house o    business premises that could be described as immune to these robbers, no matter how well secured.

CASH IN TRANSIT OR MONEY IN SAFE INSURANCE
With the alarming rate of money snatching and armed robbery in the county, it is advisable that organizations should insure their cash for the security of moving it from one location to another, money in safe should also be insured. The policies are special schemes for banks and other allied business.
FIDELITY GUARANTEE
This policy provides compensation against the dishonesty of staff handling cash, cheque or stock. in the event of embezzlement or fraud by any store man or accounting staff, the insured shall be compensated.

GOODS -IN -TRANSIT
In view of the high rate of road accidents and vehicle way lying by armed robbers resulting in losses of raw materials and finished goods, etc it is advisable that all business organizations and individuals should save themselves these losses by taking this cover. It provides indemnity against temporarily housed or garaged en-route

PUBLIC LIABILITY

The policy provide for employers or occupiers of premises legal liability against death or bodily injuries to third parties resulting from the employers or occupiers negligence or those of their agents from defect in their premises or from any object therein.

PRODUCT LIABILITY
This cover is essential for all manufacturers, hoteliers or restaurants proprietors. it covers  the insured against legal damages incurred resulting from defects in their products. For example hoteliers cannot rule out the chance of food poison while manufacturers stand of defective design or manufacture of their products. We therefore recommend that this policy be taken up by all hoteliers and manufactures

 

CONTRACTORS ALL RISK AND PERFORMANCE BOND
The cover, as the name implies covers material losses or damages to the work under construction, Workmen Compensation/group personal accident and liabilities to the public for property damage/injuries to persons. The performance bond is more commonly require by the governments or other organization cover penalties for cover run periods or non performance by the contractors as guaranteed in their contracts

ENGINEERING INSURANCE
This insurance provides indemnity for loss ranging from the actual property insured to properties belonging to neighbors within the vicinity and bodily in juries to third parties. This cover can be arranged for breakdown of lifts, cranes or hoist, gas and electrical plants can also be insured for their peculiar risks. Operation or maintenance and several other causes.

PROFESSIONAL INDEMNITY
This policy is essential for all professional in the business world to cover them against probable legal damages resumption the detective performance or non performance of their duties
example of such professions are Doctors, Accounts, Lawyers or Newspaper Organizations (libel), Secretaries, Architect's, Estate Managers, Insurance Brokers, Surveyors etc

MARINE INSURANCE
With the1976 Insurance Decree, all Marine Insurance for the importation are now made on c&s f basis and no longer CIF.
Then policy against losses or damage caused by specifies sea perils to the vessels, the cargo or pre-paid freight.

SPECIAL RISKS AND BESPOKE POLICIES
We also specialized in handling other classes of Insurance, which are regarded as specialized area such as:-
h) Insurance for both on and off shore risk
i) Atomic Risks
j) Agriculture including live stock and blood stock
k) Weather Insurance
l) "Bespoke" life or personal insurance scheme as back up attraction to Banks customer (i.e. saving depositors etc)
m) Mortgage indemnity protection (MIP) for Banks and Finance house
n) Any other special package can be drawn up by us to meet individual specification.

AVIATION INSURANCE

 

HULL ALL RISK:-This cover loss or damage to the aircraft whilst on the ground, taxation, flying and landing up to an agreed value of aircraft subjected to the usual standard deductible to be accommodated by the insured for each and every loss.

PERCENTAGES AND THIRD PARTY LEGAL LIABILITIES:-
The policy is to compensate the and third party (excluding crew member and employee's of the insured) against Legal Liability for death, injury and damage to property of the passenger and the third party. Additional cover can be arranging for Cargo and Mails of Passenger.

CREW INSURANCE
This policy arrange on flying the liability coverage for death or bodily injury. this cover should be arrange on flying risks basis or24hours coverage. Loss of License for pilots could also be arrange as additional cover.

 

 

OIL, GAS AND ENERGY
This cover both on an off and Onshore risks including Refineries, Petrochemical Plant Depots,Tank farm, to the off shore risk comprising multinational and independent lease operators who work along with oil service companies involved in Engineering & Construction services, seismic operations, Drilling rig activities and all manner of well delivery services.

OFFSHORE INSURANCE RISKS

Offshore physical damage
Operator extra expenses
Environmental risk
Hull, cargo and protection indemnity
Pollution
Delay in start up/ business interruption
Offshore construction.
ONSHORE RISK
Onshore construction
Onshore physical damage
Business interruption
Machinery breakdown
General liability

There are also other constitutions of energy risk that are covered and arranged separately.

REINSURANCE
For risk where the internal capacity exceeds the overall retention in the country, we also arrange necessary reinsurance either on treaty or facultative etc.