Our Services
Our goal is to strategically position our clients at the top of the insurance field
ICON, through its product BIMA, aims at placing its insurance companies, brokers, agencies, reinsurers, and all other insurers and intermediaries at the forefront through advancing their insurance agenda.
Lines of Business We Support
General Insurance
Encompasses insurance against all claims, damages, and losses that arise from the use, ownership, and maintenance of aircrafts, airports and hangars. Some of the damages covered include, damages to aircraft and property, and personal injury.
This policy covers the provision of an economic safeguard to the risks that are faced by project construction that are currently ongoing, installation of projects, or machinery and equipment operated during projects. This policy encompasses:
Contractor All Risks (CAR)
Plant All Risk
Erection All Risks (EAR)
Machinery Breakdown
Electronic Equipment
Boiler & Pressure Vessels
L.O.P Following Machinery Breakdown
Deterioration of Stock
Covers damages to insured property that is caused by perils like fire, lightning, explosions, riots, strikes, and earthquakes or special perils that have a less likelihood but possibility of occurring like floods, rains, aircrafts falling, hurricanes l, cyclones, or tornadoes. It encompasses:
Domestic
M-Domestic Package
Domestic Contents
Industrial
Fire Industrial
Consequensial Loss Following fire
Asset All Risk/Business Combined/Industrial All Risks
Political Violence And Terrorism
Office Contents
Accidental Damage
Domestic
Industrial
Public Liability policy offers covers against claims of property damage or personal injury which a third party claims to have suffered due to your business activities.
It encompasses:
Products Liability
Professional Liability
Public Liability
Directors & Officers Liability
It encompasses:
Marine Insurance covers loss, disasters,or damages caused to cargo, terminals, ships, and any kind of transport whereby property is acquired ,transferred, or held between origin points and the final destination. It encompasses:
Marine Hull
Marine Cargo
Goods in Transit
Marine Open Cover
Carriers Legal Liability
This policy offers protection against loss or damage by accident to motor vehicles including any standard accessories and spare parts in addition to the legal liability whereby the policyholder will be legally liable to pay as damage for damage to property or accidental bodily injury of a 3 party. It encompasses:
Motor Private Comprehensive
Motor Private Third Party
Motor Cycle Comprehensive
Motor Cycle Third Party
Master Binder Private
Binder Certificate
Motor Commercial insurance policy is merely a collective name for all the different types of policies for different vehicles used by businesses commercially including taxis, trucks, and HGVs. It encompasses:
Motor Commercial Comprehensive
Motor Commercial Third Party
Motor Internal Trade
Private Hire
PSV
General Cartage
Special Types
Driving School
Industrial Vehicles
Personal Accident Insurance covers your such that if you are not able to work temporarily after an accident, it replaces your income. It is more or less like income protection but only covers accidental injuries but not ailments or other injuries. It encompasses:
Personal Accident
Group Personal Accident
Travel
Theft insurance is exactly as it sounds. It offers indemnity against loss or damage of property that is insured that results from theft followed by visible, forced, violent entry into or out of insured premises. It encompasses:
Money
Fidelity Guarantee
Burglary
All Risks
Workmen’s Compensation Insurance covers medical costs, often a percentage of the wages that are lost in the case that an employee is unfit to work due to illness, or an injury acquired while working. The insurance policy encompasses the Employer’s Liability policy.
Miscellaneous Insurance refers to those contracts of insurance other than those of Life Insurance, Marine, and Fire. It encompasses:
Consumer Protection Policy
Legal Expenses
Plate Glass
Pedal Cycle
Sportsmans Policy
Umbrella Policy
Construction Bonds
Custom Bonds
Excess Protection
Agribusiness Insurance is a cover designed to protect businessmen who earn all if not most of their revenue from agriculture. Businesses that use this insurance typically utilizes technology that is advanced and play a crucial role in processing, packaging, and product distribution. It encompasses:
Multi Peril Crop Insurance
Fire and Lightning
Tobacco
Poultry
Farmer's OneStop
Liverstock Insurance
Weather Index
Game
FISIP Weather Index
Livestock Index
Lines of Business We Support
Life Insurance
The term life insurance does not last a lifetime, only a set number of years, then it comes to an end. It is more like a short-term contract where the insured chooses common terms like 20 or 30 years. What’s most important about this type of policy is that it balances affordability with long-term financial strength. This type of insurance is categorized into 3:
Decreasing Term Life Insurance
This term insurance is one that is renewable and has a coverage that keeps decreasing over the life of the policy at a rate that is predetermined.
Convertible Term Life Insurance
In cases where a policyholder has selected an insurance policy but is still unsure or changes their mind along the way, this insurance best suits them because it gives them the leeway to convert a term policy into a permanent insurance.
Renewable Term Life Insurance
This term life policy is renewable and provides a quote for the year that the policy is purchased. As the years progress, the premiums of the life policy increase annually. It is by far the least expensive term life insurance policy in the beginning
This term insurance is one that is renewable and has a coverage that keeps decreasing over the life of the policy at a rate that is predetermined.
In cases where a policyholder has selected an insurance policy but is still unsure or changes their mind along the way, this insurance best suits them because it gives them the leeway to convert a term policy into a permanent insurance.
This term life policy is renewable and provides a quote for the year that the policy is purchased. As the years progress, the premiums of the life policy increase annually. It is by far the least expensive term life insurance policy in the beginning
Permanent Life Insurance covers the entire life of the policyholder unless they stop paying the premiums or they decide to surrender the policy. This insurance is by far the most expensive when compared to Term insurance. It also has numerous categories including:
Whole Life Insurance
Whole Life Insurance is a type of Permanent Insurance that has an accumulative cash value. A life insurance policy that is of cash value give the placeholder an opportunity to use the money as they will for instance as a source of loan or as cash, and to pay for their policy premiums.
Universal Life Insurance
This is a type of permanent life insurance with an aspect of cash value that earns interest and this insurance features premiums that are flexible. The premiums of this insurance and not anything like term and whole life insurance as they are adjustable after some time and can also be designed with an increasing or level death benefit.
Whole Life Insurance is a type of Permanent Insurance that has an accumulative cash value. A life insurance policy that is of cash value give the placeholder an opportunity to use the money as they will for instance as a source of loan or as cash, and to pay for their policy premiums.
This is a type of permanent life insurance with an aspect of cash value that earns interest and this insurance features premiums that are flexible. The premiums of this insurance and not anything like term and whole life insurance as they are adjustable after some time and can also be designed with an increasing or level death benefit.
The Indexed Universal Insurance allows the policyholder to earn on the cash value aspect, a rate of return that is fixed or equity-indexed.
The Variable Universal insurance allows the policyholder an opportunity to invest the cash value of this policy in any separate account that is available. Like the Universal Life insurance, it also has flexible premiums and it can be designed with an increasing or level death benefit.