The Niche Business Unit is a specialized unit set up by Enterprise Insurance LTD. to underwrite unique risks tailored to meet the special needs of specialized professionals as well as other corporate and individual clients.

Products underwritten by the Niche Business Unit include but not limited to:

1. Cyber Liability Insurance
2. Medical Malpractice Insurance
3. Aviation Insurance
4. Drone Insurance
5. Directors and Officers Liability Insurance
6. Political Violence and Terrorism Insurance
7. Marine Hull Insurance etc.

CYBER LIABILITY INSURANCE

This policy seeks to protect organizations against the financial and legal consequences of a data breach as well as certain allied cyber security issues.

This policy in this case indemnifies the Insured against First Party and Third Party Losses.

First Party Losses

Loss or Damage to Electronic Data - Covers the cost to replace or restore electronic data or programs damaged, destroyed, or stolen in a data breach, whether the data belongs to your firm or someone else. Losses must result from a covered peril such as a hacker attack, a virus, or a denial of service attack. Policies may also cover the cost of hiring experts or consultants to help preserve or reconstruct data.

Loss of Income and Extra Expenses - Covers income losses you suffer and extra expenses you incur to avoid or minimize a shutdown of your business after your computer system fails due to a covered peril.

Cyber Extortion - Applies when a hacker breaks into/decrypts your computer system and threatens to commit a nefarious act like damaging your data, introducing a virus, initiating a Denial of Service attack, or releasing confidential data unless you pay a specified sum. Coverage typically extends to any extortion payment you make and expenses you incur in responding to the demand.

Notification Costs - Covers the cost of notifying parties (voluntarily or as required by law) affected by a data breach. This may also cover the cost of providing credit monitoring services and establishing a call center.

Damage to Your Reputation - Some policies cover costs you incur for marketing and public relations to protect your company’s reputation following a data breach. This coverage may be called Crisis Management.

Third Party Losses

Network Security and Privacy Liability - Covers claims against your firm for negligent acts, errors or omissions that result in a Denial of Service attack, unauthorized access, introduction of a virus, or other security breach of your computer system. Also covers claims alleging you failed to do due diligence in protecting sensitive data stored on your computer system. The data may belong to customers, clients, employees or other parties.

Electronic Media Liability - Electronic media liability insurance covers lawsuits against you for acts like libel, slander, defamation, and copyright infringement, invasion of privacy or domain name infringement. Generally, these acts are covered only if they result from your publication of electronic data on the Internet.

Regulatory Proceedings - Covers fines or penalties imposed on your firm by regulatory agencies that oversee data breach laws. Also covers the cost of hiring an attorney to assist in your response to a regulatory proceeding.

MEDICAL MALPRACTICE INSURANCE

Medical Malpractice Insurance is a specialized type/variance of professional liability insurance that covers physician liability arising from disputed services that result in:

• Bodily injury.
• Death
• Extra medical expenses
• Physical Injury
• Mental Illness / Psychological effects of medical errors
• Disability

It also protects them from the cost of defending lawsuits related to such claims.

COVERAGE

Below is a list of possible coverages you are likely to have under a Medical Malpractice policy. These coverages may be subject to a deductible and cover can be designed to meet client’s needs:

Civil Liability - Covers the claims related to negligent acts errors or omission, libel & slander, unintentional breach of confidentiality, legal liability in respect of accidental injury or death of any person and any legal awards or damages.

Defence Costs - Covers defence Costs incurred by the Insurer or by the Insured/Policyholder with the Insurer’s written consent in connection with any Claim under this Insurance.

Loss of or Damage to Documents – Covers all costs and expenses reasonably incurred by the Insured in replacing or restoring physical Documents that were lost or damaged in transit in the conduct of the Professional Business up to a maximum 10% of the Annual Limit.

Good Samaritans Act – Covers claims first made against the insured or medical professional in respect of Negligence in the treatment administered at the scene of a medical emergency accident or disaster by the insured who is present either by chance or in response to an SOS call and Defense costs incurred by the insurer or by the insured with the insurers written consent in connection with claims made under Insurance Clause 5A (Good Samaritans Act).

MEDICAL MALPRACTICE VRS PROFESSIONAL INDEMNITY

Medical malpractice is indeed a form of professional indemnity customized to suit the real risks of a medical professional. While the generic professional indemnity policy in principle, only covers financial losses incurred by a client due to the negligence and failure to provide certain services, the medical malpractice policy goes an extra mile to cover professional situations where an error of judgement can literally mean life or death.  

AVIATION INSURANCE

Our Aviation Insurance is designed to cover physical damage and legal liability of an insured Aviation unit arising out of its ownership and operation.

Coverage

Loss or damage to aircraft - Accidental physical loss of or damage to an insured Aircraft that occurs during the Policy Period, arising from the Risks Covered, including disappearance if the Aircraft is unreported for ten (10) days after the commencement of Flight, but not exceeding the agreed value of the Aircraft.

Loss or damage to spares – Accidental physical loss of or damage to property being aviation spares, engines, equipment, engineers’ and mechanics’ tools being the property of the Insured or the property of others for which the Insured is responsible and also tools and equipment in the aircraft which have been specially designed for the aircraft and which are ordinarily carried therein, provided that such loss or damage occurs during the Policy Period whilst such property is on the ground in the care, custody or control of the Insured or whilst at the premises of others, or is in transit by any means of conveyance (including by the Insured's Aircraft)

Aircraft Third Party Liability - All sums up to the agreed Limit of Liability which the Insured shall become legally liable to pay, and shall pay, as damages in respect of Bodily Injury and/or Property Damage to third parties (other than passengers), caused by an Occurrence arising in connection with the Insured’s ownership, use or operation of an Aircraft.

Passenger Liability - All sums up to the agreed Limit of Liability to which the Insured shall become legally liable to pay, and shall pay, as damages in respect of:

• Bodily Injury to passengers whilst entering, on board, or alighting from an Aircraft caused by an Occurrence and
• Property Damage to passenger baggage and personal effects caused by an Occurrence when such passenger baggage and personal effects are in the care, custody or control of the Insured.

Ground Risk Hull Insurance (both in motion and not in motion)

Personal accident for on-board crew members

Premises Liability

Hangarkeepers Liability - All sums up to the agreed Limit of Liability which the Insured shall become legally liable to pay, and shall pay, as damages in respect of Property Damage to aircraft or aircraft equipment caused by an Occurrence, whilst such aircraft or aircraft equipment is in the care, custody or control of, or being serviced, handled or maintained by the Insured.

DRONE INSURANCE

This is a variance of our standard Aviation policy specifically designed cover the risks associated with flying Unmanned Aerial Vehicles (UAVs) also known as drones. This policy by this seeks to indemnify the owner of an insured drone from losses he or she may incur as a result of loss or damage to the Insured drone as well as third party liabilities that may ensue as a result.

Currently, The Ghana Civil Aviation Authority (GCAA) has made the possession of a valid Drone Insurance policy an entrenched requirement for the acquisition of a drone pilot license. This has however made the Drone Insurance policy a compulsory acquisition.

In light of this, this product seeks to indemnify the insured against loss, damage or liability arising out of an accident occurring during the period of insurance through the following means:

1. a) Loss of or damage to the insured drone.

1. b) Legal liabilities to third parties

• “The Insurers will indemnify the Insured for all sums which the Insured shall become legally liable to pay, and shall pay, as compensatory damages (including costs awarded against the Insured) in respect of accidental bodily injury (fatal or otherwise) and accidental damage to property caused by the UAS or by any object falling therefrom.”

DIRECTORS AND OFFICERS LIABILITY INSURANCE

Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

This policy as a result covers the following:

• Personal Liability of its Directors and Officers.
• Reimbursement of the company for claims (judgements/Settlement amounts and defence costs) that they have settled on behalf of their directors/ or officers.
• Legal Liability following wrongful acts of a Director or an Officer whiles in office.

POLITICAL VIOLENCE AND TERRORISM INSURANCE

This Policy indemnifies the Insured against:

Physical loss or physical damage to the Buildings and Contents which belong to the Insured or for which the Insured is legally responsible, directly caused by one or more of the following perils occurring during the Policy Period and in respect of which the Insured has purchased cover as specified below:

1. Act of Terrorism;

2. Sabotage;

3. Riots, Strikes and/or Civil Commotion;

4. Malicious Damage;

5. Insurrection, Revolution or Rebellion;

6. Mutiny and/or Coup d'Etat;

7. War and/or Civil War.

Expenses incurred by the Insured in the removal of debris directly caused by any one or more of the Covered Causes of Loss.

MARINE HULL INSURANCE

This policy covers physical loss/damage to an Insured Marine vessel caused by fire, explosion and other marine perils. It also covers damage to machinery and other equipment and apparatus installed on the vessel. Policy can however be extended to cover consequential legal liabilities to the Insured.

Marine perils under this policy may include:

• Perils of the seas rivers lakes or other navigable waters
• Fire, explosion
• Violent theft by persons from outside the Vessel
• Jettison
• Piracy
• Breakdown of or accident to nuclear installations or reactors
• Contact with aircraft or similar objects, or objects falling therefrom, land conveyance, dock or harbour equipment or lightning.

This policy may also cover loss as a result of:

• Accidents in loading discharging or shifting cargo fuel or stores
• Bursting of boilers breakage of shafts or any latent defect in the machinery or hull
• Negligence of Master Officers Crew or Pilots
• Negligence of repairers or charterers provided such repairers or charterers are not

an Assured hereunder

• Barratry of Master Officers or crew