Lucy Insurance S.C.

Lucy Insurance S.C. was established in 2012 with 39 visionary shareholders and an initial paid-up capital of Birr 8,035,000. Over the years, the company has significantly increased its capital, reaching Birr 205,401,000 by June 2024, in line with regulatory requirements. With 599 shareholders, it operates 40 branches across the country and has created employment for over 233 skilled employees, positioning itself for continued growth and expansion.

Vision

A company that comes to mind for best insurance service

MISSION

• Provide dependable best insurance services and engage in lucrative investment activities using capable manpower and modern technology.
• Offer insurance products at affordable premiums by using all marketing channels.
• Satisfy customers and increases shareholders' value through discharging its corporate social responsibility.
• Ensuring profitability & sustainable growth, in a socially responsible manner

Core Value

Core value of Lucy Insurance is፦

• Team work
• Impartiality
• Learning Organization
• Innovation
• Trust and Trustworthiness
• Partnership
• Commitment
• Excellence
• Responsiveness

Lucy Insurance has the following products and service

• Property Insurance
• Liability Insurance
• Engineering Insurance
• Pecuniary Insurance
• Travel & Health Insurance
• Accident Insurance
• Political Violation & Terrorism Insurance

Property Insurance

1. Motor Insurance
2. Provides coverage for cars, trucks, motorcycles, and other vehicles, protecting against physical damage, bodily injury, and liability from traffic collisions.
3. Fire & Allied Perils
4. Indemnifies against financial loss from property damage caused by fire or lightning, according to the policy's terms, conditions, and exclusions.
5. Burglary and Housebreaking
6. Covers loss or damage due to theft, but only if accompanied by forcible and violent breaking into or out of a building.
7. Plate Glass Insurance
8. Covers damage to glass in the insured premises due to accidents, excluding breakage from fire, explosion, earthquakes, or willful acts.
9. All Risks Insurance
10. Protects against loss or damage caused by fire, theft, accidents, or any other misfortune not specifically excluded in the policy.
11. Marine Insurance
12. Covers loss or damage to ships, cargo, and other vessels caused by marine perils, including storm, collision, and fire. Also covers inland transit risks. The main policies include Hull, Cargo, Pleasure Crafts/Vessels, and Inland Transit.

Engineering Insurance

Engineering insurance protects against unforeseen damage or loss to insured property, excluding specific policy exclusions. It covers contract workers, construction plant and equipment, machinery, and structures during construction and erection. Key types of engineering insurance offered by Lucy Insurance S.C. include:

1. Contractor's All Risk
2. Offers protection for contract works and third-party claims for property damage or bodily injury during civil engineering projects.
3. Erection All Risk
4. Covers machinery, plant, and materials from the point of transit to the erection site, including storage, installation, and commissioning.
5. Boiler and Pressure Vessel
6. Covers damage or loss from the explosion or collapse of boilers and pressure vessels, including third-party liabilities and property damage.
7. Machinery Breakdown
8. Provides coverage for unforeseen damage or loss to machinery and equipment, whether at work, rest, or during dismantling and reassembly.
9. Electronic Equipment
10. Insures against physical damage to electronic equipment such as computers, telecommunication systems, medical devices, and other specialized electronic items.

Liability Insurance

1. Public Liability Insurance
2. Covers legal liability for bodily injury or property damage caused by accidents during business activities.
3. Professional Indemnity Insurance
4. Protects professionals from claims arising due to errors, omissions, or negligence in their services.
5. Product Liability Insurance
6. Covers legal liability for injury or property damage caused by products supplied by the insured.
7. Carrier Legal Liability Policy
8. Protects against loss or damage to goods during transport and covers legal costs related to claims.
9. Workmen’s Compensation Policy
10. Provides compensation for employees injured or killed while working, as per Ethiopian law.

Pecuniary Insurance

• Bid Bond
• Performance Bond
• Advance Payment Bond
• Supply Bond
• Retention Bond
• Maintenance Bond

Travel & Health Insurance

• Personal Assistance
• Medical Transportation and Repatriation Insurance
• Medical Expenses Insurance
• Repatriation of Mortal Remains Insurance
• Personal Liability due to Physical and Material Damages to Third Parties Insurance
• Reimbursement of the Cancellation Expenses of the Trip Insurance
• Indemnity due to the Flight Departure Delay Insurance

Political Violence & Terrorism (PVT) Insurance

is a property insurance which protects from physical damage caused by politically-motivated events such as terrorism, strikes,riot, civil commotion, sabotage, civil unrest, insurrection, revolution, rebel-lion, mutiny and/or coup d’etat./