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United Insurance

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• Insurance

The United Insurance Company SC

he United Insurance Company SC, better known as < UNIC-ETHIOPIA >, was established by 87 Ethiopians (individuals and enterprises) in November 1994 with an authorized capital of Br 25 million and an initial paid up capital of Br 8.073 million. Following the merger with Lion Insurance Company SC in 2002, < UNIC-ETHIOPIA >, is currently owned by more than 318 shareholders. As a result of the merger and the decision of the Seven Extra-Ordinary General Meeting of shareholders, the Company’s authorized capital rose to Br 250 million. The subscribed Capital is now Br 100 million.


< UNIC-ETHIOPIA > aims to be the best insurance company anywhere, most professional, most commercial, and most responsible...


Provide complete insurance cover at economic rates, honest, prompt, and courteous claims services, to fully satisfy all its constituencies: Customers, Shareholders, Employees, Society and the Environment.


Our main objective is to transact all Life and Non-Life insurance, Reinsurance and related businesses in the best commercial and professional tradition by providing the most complete and secure insurance cover and offering all these at reasonable and competitive price.


Engineering Insurance

The objective of engineering insurance is to indemnify the insured against any sudden and unforeseen physical loss of or damage to the properly insured from any other than those specifically excluded under the respective policy, in respect of contract workers, construction plant and equipment, construction machinery, erection of machinery plant and steel structure of any kind etc. as applicable.

The Main types of Engineering insurance provided by the United Insurance Company S.C. are-

  • Contractor’s plant and machinery
  • Contractors all risk
  • Erection all Risk
  • Boiler and Pressure Vessel
  • Machinery Breakdown
  • Deterioration of Stock
  • Electronic Equipment


Contractors all Risk

The object of the policy is to offer comprehensive and adequate protection against loss or damage in respect of the contract works, as well as for third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project.

 Contractor’s plant and machinery

 Erection all Risk
The policy provides for all risks (subject to specified exclusion) coverage from the time any of the machinery, plant equipment or material intended for the project leaves the manufacturers/supplier warehouse for transit and continues during the transit until arrivals at erection site and during storage and erections operations and till the erected plant is tested and commissioned for commercial operations.

   Boiler and Pressure Vessel

 The policy covers pressure vessels both fired and unfired against the risks of “Explosion” or “Collapse” and indemnifies the Insured against

  • Damage (other than fire) to the boilers and/or other pressure plant described in the schedule.
    • Damage (other than fire) to surrounding property of the Insured described in the schedule or to property by the Insured in trust or on commission or for which he is responsible.
    • Liability of the Insured at law on account of
      • Death or bodily injury to any person (other than a person under a contract of service or apprenticeship with the Insured) sustained death or bodily injury, which arises out of and in the course of employment with the Insured.
      • Damages to property not belonging to the Insured nor held in trust or on commission not for which he is responsible. 

Machinery Breakdown
The machinery insurance cover is intended to include any loss or damage to various types of machinery, plant and equipment due to unforeseen and sudden physical loss of or damage necessitating their repair or replacement.

The cover affords protection to the machineries which are at work or at rest and also when they are being dismantled for the purpose of cleaning, inspection and overhauling or removal to another position or in the course of their operations or subsequent re-erection, provided these are performed in the same premises.       

Electronic Equipment

The object of “Electronic Equipment Insurance” is to provide cover against any physical loss or damage to any electronic equipment. The Policy is issued on All Risk cover basis.
The most common insurable items under this policy are the followings:-

  • Computers, micro-processors, word-processors,
  • Telecommunication equipments,
  • medical equipments,
  • Film TV studio equipments,
  • Electronic score board, etc.

Fire and General Accident Insurance

Fire and Lightening

The object of Fire and Lightning Insurance is to indemnify the Insured against financial loss which the Insured may suffer as the result of the property insured being damaged or destroyed by Fire and/or lightning subject to the terms, conditions and exceptions of the standard policy

Burglary and House Break

 Burglary and House breaking insurance, the objective of this cover is to indemnify the Insured in respect of loss of damage to property by theft but only if the incident is accompanied by actual forcible and violent breaking into or out of a building or any attempt thereto.

    Householder’s Comprehensive Insurance

The objective of “Householder’s Comprehensive Insurance” is to indemnify the insured against loss or damage to the contents, buildings and other contingencies specified in the schedule caused by fire, theft or any other accident or misfortune not specifically excluded under the policy.

Under this insurance, the following items shall be covered.

  1. Contingencies relating to contents – household goods and personal effects.
  2. Other contingencies like buildings and landlords fixtures and fittings.
  3. Liability to the public.
  4. Compensation for death of the insured.

Fire Consequential Loss/Loss of Profit

          The objective of Consequential Loss/Business Interruption Insurance is to indemnify the insured or enable the Insured to recover loss of gross profit due to reductions in turnover and reasonable additional expenditure incurred in minimizing the reduction in turnover following material damage loss.             

Risks covered under this insurance are as follows:-

  1. Gross Profit
  2. Wages/Salaries
  3. Auditors’ Charges

   All risk Insurance

The objective of “All Risks” Insurance is to indemnify the insured against loss or damage by fire, theft or any other accident or misfortune not specifically excluded under the policy. Cover shall not be provided for property other than Personal Effects and Household goods and the like.

Under this insurance items mainly comprising of gold and silver articles, jeweler, furs, pictures including personal effects and wearing apparels shall be covered.

    Plate glass

 Plate glass insurance provides coverage for glass if it shall be destroyed or broken by any accident or misfortune of a fortuitous character.

United Insurance Head office
Debre Zeit Road Alpaulo Building
1156 Addis Ababa, Addis Ababa
Phone: +251 114 65 56 56
Fax: +251 114 65 32 58
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