Bunna Insurance S.C.

Bunna Insurance S.C. was founded on May 25, 2013, and began offering general insurance services in August 2013. It expanded to long-term insurance in September 2021. Over the past decade, the company has experienced significant growth in capital and premium income. Originally with a paid-up capital of Birr 6.7 million, it now exceeds Birr 200 million. Bunna operates 35 branches across Ethiopia, serving over 50,000 customers. The name "Bunna," meaning "coffee" in Amharic, reflects Ethiopia's cultural and economic connection to coffee, a vital part of the nation's social traditions.

Vision

To be one of the top five private insurers in Ethiopia by 2034.

MISSION

Deliver diversified insurance services through state-of-the art IT and competent human resources so as to meet the interests of all stakeholders and enhance access to the uninsured while discharging its corporate social responsibility.

Core Value

Core value of Bunna Insurance is "FITTEST"

• F - Fulfill Social ResponsibilityI
• I - Integrity
• T - Teamwork
• T - Technology Oriented
• E - Employee Engagement
• S - Service Quality
• T - Transparency

Bunna Insurance has the following products and service

General Products

• Motor Insurance
• Pecuniary Insurance
• GPA Insurance
• Engineering Insurance
• Liability Insurance
• Property Insurance

Motor Insurance

Motor insurance provides cover for all types of vehicles and motor bike which is used for own transport or commercial transport.

Pecuniary Insurance

• Money Insurance: Covers protection for cash in safe, money in transit, and various forms of money such as bank drafts, cheques, and postal orders.
• Fidelity Guarantee: Provides protection for employers against dishonest acts of employees who handle money or valuable properties.
• Advance Payment Bond: Guarantees the repayment of advance payments in cases where contractors fail to fulfill their obligations.
• Bid Bond: Secures a bid or tender process, ensuring that the bidder will enter into a contract if awarded the work/service.
• Custom Bond: Covers the payment of government duties, taxes, and fines for importers who fail to comply with regulations.
• Supply Bond: Ensures the supply of materials or goods as per the contract; the insurance company compensates if the supplier fails to deliver.

Personal & Group Accident (GPA) Insurance

This policy offers coverage for bodily injuries resulting from external, violent, and visible causes. It provides compensation for death or permanent disability, reimbursement of medical expenses up to a specified limit, and temporary disability payments. The policy is designed for individuals, employers, travelers, families, business owners, partners, company management, and senior persons.

Engineering Insurance

1. Contractors' All Risk (CAR): Covers risks related to civil engineering projects like roads, bridges, airports, dams, railways, and more, for both contractors and subcontractors.
2. Erection All Risk (EAR): Provides coverage for risks involved in the installation and erection of plants, factories, machinery, and steel structures.
3. Contractors' Plant & Machinery: Covers risks associated with construction plants, machinery, equipment, and tools used by contractors.
4. Electronics Equipment: Offers protection against unexpected physical damage to electronic equipment installed in industries, excluding specific perils.
5. Boiler & Pressure Vessel: Provides coverage for accidents such as explosions or collapses involving boilers or pressure vessels during regular operations.
6. Machinery Breakdown Insurance: Covers sudden and unforeseen physical damage to plant and machinery, whether in operation, during cleaning, inspection, or while being moved within premises.

Liability Insurances

1. Public Liability: Covers businesses or entities for legal obligations to care for the public or others. This includes bodily injury, death, disability, illness, property damage, and associated litigation costs due to negligence or breach of duty.
2. Carriers Liability: Provides protection for transporters or carriers against loss or damage to goods during transit, including accidents like collisions, overturning, derailments, fires, and more.
3. Professional Indemnity: Protects professionals (e.g., architects, consultants, doctors, lawyers, etc.) from claims arising due to negligence or sub-standard service that causes financial loss to clients.
4. Products Liability: Covers manufacturers, distributors, and sellers against claims for injury or damage caused by defects, flaws, or inadequate instructions in their products.
5. Workmen’s Compensation: Offers coverage for employers’ liability for work-related injuries or occupational diseases. It provides death, disability, and medical compensation for employees injured during work hours.

Property Insurance

• Motor Insurance (Own Damage & Third Party)
• Own Damage: Covers accidents, collision, fire, lightning, and falling objects.
• Third Party Liability: Covers bodily injury, death, medical expenses, and property damage to third parties.
• Third Party, Fire & Theft: Adds coverage for fire, lightning, and theft.
• Additional Coverage: Includes bandit attacks, personal accident benefits, territorial extension, and higher liability limits.
• Motor Trade Insurance: Covers vehicles inside motor trade premises and for testing outside the premises.
• Marine Cargo Insurance: Covers the loss or damage of cargo (imported/exported goods), ships, and terminals due to maritime perils and inland transit accidents.
• Fire & Allied Perils: Covers risks related to fire, lightning, boilers, and pressured heating devices for buildings, contents, and machinery.
• Burglary & House Breaking: Covers goods and properties in buildings, offices, warehouses, and factories against burglary or break-ins.
• Plate Glass Insurance: Covers plate glass in showrooms, shopping complexes, restaurants, and other establishments with large windows.
• Goods in Transit: Covers goods imported to Ethiopia and transported domestically, protecting against risks during transit, including fire, collision, and overturning.
• Terrorism & Political Violence Insurance: Provides protection against property loss or damage due to political events like terrorism, sabotage, riots, civil commotion, and other political risks.