BYLL WYCH PROPOSAL

BYLL I N S U R A N C E B R O K E R SFirst Floor Ike Quartey House,B795/2 Oblogo

Road, Kaneshie Zongo Junction [email protected]. Box AD 200 Adabraka, Accra

3 May 2023

Dear Sir,

Introducing Byll Wych Insurance Brokers

Byll Wych Insurance Brokers is duly registered by NIC as a brokerage firm with certificate number NIC/IB/BYLL070/15. We wish to transact business with your institution for our mutual benefit and will be glad to have your consent.

Byll Wych sincerely hopes to demonstrate to your satisfaction our:

Ability to provide a unique and effective type of service. In-depth knowledge of the insurance industry and business. Knowledge of the requirements associated with Risk Management. Capabilities and resources available to you in the arena of Specialist Insurance. Sustained endeavors to provide innovative solutions to your risk related

problems. Readiness to effectively and efficiently pursue all claims on your behalf.

We count on your co-operation for a successful business relationship.

Yours faithfully,

Mrs. Benedicta N.L. Allotey Miss. Hanna Fosua Yeboah(General Manager) (Associate Broker/Manager)

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[email protected]

WELCOME TO EXCELLENCE

“We love what we do because of the lasting smiles it puts on the faces of our clients” BYLL WYCH TEAM

WHY COMPANIES ARE CHOOSING BYLL WYCH

Our in-depth knowledge of the insurance business in Ghana means excellent risk consultancy

Our structured claim management techniques means excellent claim service

Our well trained and experienced staff means excellent broking, professionalism and innovation

Our resources and well-coordinated procedures means excellent prompt service delivery

Our understanding of the Ghanaian insurance market premium dynamics means excellent premium negotiations

Our client oriented service delivery means excellent customer service

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CONTENTS1. COMPANY PROFILE-------------------------------------------------4-5

2. THE BYLL WYCH PACKAGE----------------------------------------6-8

3. GENERAL INSURANCE POLICIES---------------------------------9-13

a. For the employer-------------------------------------9-13

b. For the employees------------------------------------13

4. INSURANCE COMPANIES WE WORK WITH-------------------14

5. CONDITIONS FOR APPOINTMENT ------------------------------15

6. SAMPLE MANDATE LETTER --------------------------------------16

7. CONTACTS/THANK YOU -------------------------------------------17

COMPANY PROFILEPage | 3

Byll Wych Insurance Brokers Limited is a wholly owned subsidiary of Byll Wych group. Since its incorporation in 2010, the company has made its mark in the insurance brokerage market by providing excellent brokerage and risk management services to various companies in Ghana. Byll Wych Insurance Brokers Limited, with its local and international affiliates have created an integrated array of specialist insurance brokerage and risk management services for various sectors of the Ghanaian economy.

Byll Wych is currently making a great penetrative impact in the Brokerage industry. The company is driven by its core values of reliability, excellence, innovation and professionalism which have enhanced both our local and international clientele network. Our passionate appetite for innovation and product development coupled with excellent customer service has placed the company top of the list of efficient brokerage service providers.

Byll Wych Insurance Brokers current service belt encompass;

Evaluation of the insurance need of clients and the designing of programs to manage their risk exposure and to protect their assets and earnings against financial losses.

Provision of a full range of intermediary insurance services notably, risk management and insurance intermediation.

Seeking strategic alliances with recognized international insurance broking and reinsurance intermediaries to enable us provide world class brokerage services.

Developing close and mutually beneficial working relations with clients and direct insurance companies for professional and efficient intermediation.

Provision of comprehensive services to self-employed business men and women by providing them with the array personal line insurance policies.

Maintaining a group of well trained and motivated professional and insurance practitioners to enhance the level of excellence and professionalism we uphold.

STRATEGIC ALLIANCES

Byll Wych Insurance Brokers has partnered high reputable organizations both locally and internationally creating a very strong strategic Alliance. These alliances have enabled Byll Wych Insurance Brokers Limited to provide comprehensive state of the art products and services with an unparalleled customer-focused orientation.

Our strategic alliances have enhanced our integrity, transparency and professionalism which have added up to the several reasons why we are the preferred choice of a majority of companies in the country. Our link office in Takoradi and Kumasi means we will be able to serve you better.

THE BYLL WYCH PACKAGE

Byll Wych values the relationship we have with our clients and hence a comprehensive service package tailored to cover the stretch of insurance needs of our clients. Below are the services you get for choosing to do business with us:Page | 4

RISK EXPOSURE IDENTIFIFCATION

Our team will first of all conduct a detailed assessment of risks with a view to building a risk profile associated with your business. Where an insurance program already exists; a review of uninsured risks will be done for your institution and a report submitted free of charge. It is based on this that we will recommend the policies available for the client to be fully covered.

PREMIUM NEGOTIATION

Our team will proceed to search the market to get the right premium taking into consideration price and coverage terms. At this stage, we also carefully examine the terms and conditions of the policy as well as warranties if any. This is a duty to which we attach great importance as your brokers. We present underwriting information; negotiate renewal terms and confirm result of market rates to you.

UNDERTAKING PRE-RENEWAL PREPARATION (if any)

After the team obtains your company’s underwriting information; we meet with you before renewal dates to agree on scope of cover and claim experience with a view of negotiating renewal terms beneficial to you. This shall be done within three months to the lapse of the policy.

POST RENEWAL PROGRAMME (if any)

We shall negotiate and finalize policy wordings, process premiums payments; agree to claims procedures and provide an overview of cover and uninsured risk. The latter involves a comprehensive report of insurances affected.

SERVICE PLAN AND ADMINISTRATION

This involves meetings between Byll Wych and your company for our special periodic assessment to identify prevailing issues that may crop up during the year. It may be follow-ups to renewal; outstanding matters; additions; deletions and normal service calls between broker and policy holder.

CLAIM MANAGEMENT

Claim management is one of the most essential aspects of insurance and the policy at Byll Wych is to exhaustively and expertly manage all client claims up to full settlement. This will involve collating claim documents, negotiating and processing all classes of claims and ensuring speedy issuing of claim cheques to clients within appreciable time frame. Byll Wych does not compromise on this responsibility.

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RISK CONTROL MANAGEMENT

To convince insurers to reduce premium rate, the client should demonstrate improvements in keeping the probability of loss occurring to a minimum. This means the client must be committed to an effective risk control programme. At Byll Wych Insurance Brokers Limited, we strive to offer advice on how to deal with perceived risk exposures. This involves the coordination of housekeeping activities that follow laid down risk management methods to improve risk and set firm grounds to negotiate favourable terms for clients.

FREE INSURANCE CONSULTANCY SERVICE

The principal advantage for choosing Byll Wych is that the services enumerated above are free and are not charged on the client. The policyholder therefore benefits from the expertise of our professional staff at no cost. Other advisory services related to your insurance needs may be sought from us at no cost.

SERVICE ADVANTAGE

Byll Wych shall meet with your outfit, at least twice a year, unless agreed otherwise to discuss risk and insurance issues.

Byll Wych shall provide the client with twenty four (24) hours contact information for claims and insurance emergencies.

Policy summaries shall be completed electronically and sent to the company’s head office and any other office required not later than two months after inception date for each policy or contract.

All claims notified to Byll Wych shall be reported immediately to the relevant local insurer and processed expeditiously.

All summons or legal filings against the client or related to the business transacted shall be reported, where permissible, within 24 hours of receipt locally.

GENERAL INSURANCE POLICIESByll Wych Insurance Brokers offers brokerage service on all non-life or general insurance policies as classified below for both employees and employers (Companies)

FOR THE EMPLOYERASSETS / PLANT & MACHINERY ALL RISKS

Under Assets / Plant & Machinery All Risks policy, the Insurance company agrees that if after payment of the first premium, any of the property insured described in the schedule is lost or damaged accidentally by unforeseen circumstances during the period of insurance (or any Page | 6

subsequent period for which the insurer accepts a renewal premium) from any cause whatsoever except where specifically excluded the Company will pay to the insured the value of the property at the time of its loss or destruction or at the option of the insurance company, replace or repair such property or any part of it. In other words, the policy covers virtually all insurable perils except the specifically excluded ones.

BONDS

We provide brokerage service on all construction bonds to our clients in the construction industry. Such bonds include, Bid Bond, Performance Bond, Advance Mobilization Bond.

We also provide services on Custom Bonds which include Warehouse Bond, Removal Bonds, Retention Bonds, Security and Transit Bonds as may be required by the Customs, Excise and Preventive Service (CEPS).

BURGLARY INSURANCE

Our Burglary policy covers loss or damage to the subject matter such as stocks and contents as a result of forcible and violent entry into or exit from the premises.

BUSINESS INTERRUPTION

With the occurrence of fire outbreak, the insured may not be able to carry out the normal business operation. However, it may still incur some fixed cost. The Business Interruption or Consequential Loss policy is designed to provide indemnity to the insured in respect of net profit as a result of the interruption to the business, standing charge such as rent and interest and wages and salaries of employees.

CASH-IN-TRANSIT /SAFE

The Cash-In-Transit policy indemnifies the insured against accidental loss or damage to the insured's cash, bank and currency notes, cheques, postal orders, etc., while in transit from one specified location to the other, for example the insured’s premises to the bank, or within the country. Cash-In-Safe policy is effective when the insured’s cash is being held up in the business premises or location described in the policy. In other words, the policy provides indemnity against damage or loss to the insured’s cash while they are being kept in safe at the insured’s location.

COMPREHENSIVE HOMEOWNERS

This policy was designed to cover all accidents that are likely to occur in the home. The Comprehensive Homeowners insurance policy provides five main covers. The first section covers the insured's building against Loss or damage caused by perils such as fire, explosion, lightning, storm, hurricane, tornado, flooding, earthquake, volcanic eruption, bursting or overflowing of water tanks, etc.

The second section covers the insured’s contents against the above perils as well as burglary or any attempt excluding theft not involving entry into or exit from the private dwelling house, domestic offices, garages or outbuildings by forcible and violent means. In other words, these two sections are similar to a combined fire & allied perils and burglary policy.

The third section of this policy covers the insured’s liability to the public. That is, death and personal injury to any person not being a member of the insured’s household, servant or

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employee and accidental damage to property not belonging to or in the charge of or under the control of the insured or a member of his household, servant or employee caused within the limits of the private dwelling house.

The fourth section of the policy provides cover for personal accident, which is bodily injury which independently of any other cause shall result in death, temporary disablement or permanent disability and medical expense caused to the insured and or spouse and or children.

The fifth section provides the insured with the actual cost of renting an alternatively reasonable accommodation for the period necessary for reinstatement (maximum 12 months) for an amount not exceeding ten per centum of the full value of the property per annum or the proportionate part thereof monthly.

CONTRACTORS ALL RISK

Contractors All Risks (CAR) is a package policy that provides indemnity to the insured against loss or damage to the contract works, the insured's plant and machinery and liability to third parties in respect of death, bodily injury or property damage.

ELECTRONIC EQUIPMENT

This policy provides compensation for loss or damage to Electronic Equipment whether the items are at work or at rest, or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises, or during subsequent re-erection. The Material Damage section provides indemnity against any unforeseen and sudden physical loss or damage from any cause, unless specifically excluded, by paying for repairs or replacement.

The insurance company shall be liable and will in addition be responsible for all costs and expense incurred with the Company’s consent in defending any claim for such compensation.

FIDELITY GUARANTEE

Due to possible infidelity or fraudulent acts of some employees, the Fidelity Guarantee policy is provided, under which the insurance company agrees to reimburse the Employer (insured) all such direct pecuniary loss not exceeding the amount of guarantee stated in the schedule of the policy, as the Employer shall sustain by all acts of fraud or dishonesty committed by any of the employed staff during the period of indemnity and during the uninterrupted continuance of employment of such Employed. The act must be in connection with his occupation and be discovered during the period of indemnity or within six months thereafter or within six months after the termination of such employment whichever shall happen first.

FIRE & ALLIED PERILS

The basic fire policy covers damage or loss to the insured property as a result of fire, lightning and explosion. This could however be extended to cover allied perils such as aircraft damage, extended explosion, riot and civil commotion, malicious damage, earthquake, storm and tempest, flood, bursting or overflow of water tanks, sprinkler leakages, impact damage, subsidence, subterranean fire and spontaneous combustion.

GOODS-IN-TRANSIT

We further offer brokerage services on Goods-In-Transit policy which simply provides indemnity to the insured against loss or damage to the insured goods while they are being

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transported from one location to the other, normally within the county. Thus for example if the insured goods are accidentally damaged as a result of fire, theft or an accident during transit, the policy would indemnify the insured against such loss.

MARINE INSURANCE

Marine business is subdivided into mainly Marine Cargo and Marine Hull.

Marine Cargo policy provides indemnity to the insured for accidental damage or loss to the insured property as a result of insured perils such as storm, jettison, fire, seawater damage, etc. Shipment can be either by sea or by air. There are mainly three clauses in marine insurance business.

Institute Cargo Clause "C”

The Institute Cargo Clause “C” gives the least cover in marine insurance. The perils that are covered are, Fire and explosion, Vessel being stranded or capsized, Impact damage, Discharge of cargo at a port of distress, General average sacrifice and Jettison.

Institute Cargo Clause “B”

This clause (cover) gives a wider maritime cover than the clause “C”. In addition to the cover granted under the ICC “C”, the following perils are covered under the ICC “B”: Earthquake, volcanic eruption and lightning, Washing overboard by sea water or wind, Entry of sea, lake or river water into the vessel causing damage to the goods, Total loss of package overboard or dropped into the sea while loading or unloading from the vessel

Institute Cargo Clause “A”

This clause is comprehensive in nature and thus covers “All Maritime Risks”. It covers virtually every peril except the specified excluded perils.

MOTOR

All motor vehicle owners are required by law to have a motor insurance policy to cover their legal liability to others who may suffer death, bodily injury or damage to their property as a result of the use of the vehicle. Victims of such injuries and damage are usually passengers, pedestrians, property owners and other road users. The motor policy is meant to cover the liabilities of our insured's vehicle towards third parties who may suffer loss or bodily injury or death as a result of the use of the motor vehicle.

Under the motor portfolio, three types of cover are available for clients namely, The Third Party Cover, Third Party Fire & Theft Cover, and the Comprehensive Cover.

Third-Party Cover

a) This covers bodily injury to third parties e.g. passengers, pedestrians and other road users, the sum insured is unlimited.

b) There is also an offer compensation to any property that may be damaged by the insured vehicle, and the sum insured is limited to GH¢2,000.00 unless specifically requested for. Damage to the insured vehicle is not covered.

Third Party Fire and Theft

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Under this policy there is cover for all the above, and in addition, provide compensation to the insured for loss or damage to the insured’s vehicle if the loss or damage is as a result of fire and or theft.

Comprehensive Cover

The greatest extent of cover is under the comprehensive policy, and this includes the above, as well as compensation to the insured for accidental damage to the insured vehicle. Specifically, there is cover for losses like own damage, total loss either through fire, theft and burglary or accidental damage as well as third-party damage and bodily injury.

PROFESSIONAL INDEMNITY

Under the professional indemnity policy, the insurer agrees to indemnify the assured up to but not exceeding in the aggregate limits stated in the schedule for any sum or sums which the assured may become legally liable to pay arising from any negligent acts, errors or omissions occurring during the period of insurance specified as a direct result of the professional conduct of their business, by the assured or any partner or any person employed by the assured. This policy is more suitable for professional like doctors, lawyers and accountants.

PUBLIC LIABILITY & PRODUCTS LIABILITY

While Public liability policies cover the insured against his / her liability to the public for death, bodily injury and property damage as a result of an accident. Products liability indemnifies the insured against accidental death or bodily injury and property damage caused by the insured's products to the public or consumers

INSTANT TRAVEL INSURANCE

We at Byll Wych believe that travel insurance has to be done instantly without having to wait for hours. This is the reason why we have designed a specialist travel policy in conjunction with our Partners to serve our client with speed.

This policy provides financial relief to International travelers for medical expenses and hospitalization abroad, delayed departure, location and forwarding of baggage and personal effects, compensation for in-flight loss of check-in baggage, delivery of medicine, emergency dental care, advance of funds, loss of passport, drivers’ license, national identity card abroad, emergency return home following death of a close family member, repatriation of family member travelling with Insured, travel of one immediate family member and repatriation of mortal remains.

HOW IT WORKS

1. You give us a call for us to take your information2. You send a payment to our electronic payment platform using your name as the

reference identification (Tigo Cash number 0276-868-609)3. Your policy is processed and sent to your email within 5 minutes.

PREMIUMS

The current premiums are:

TRAVEL PERIOD EURO(€) GH¢1 TO 7 DAYS 13.20

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This is subject to the prevailing exchange rate at

that time

1 TO 15 DAYS 21.601 TO 32 DAYS 27.601 TO 62 DAYS 42.001 TO 92 DAYS 51.60

6 MONTHS 66.0012 MONTHS 79.20

FOR THE EMPLOYEEEMPLOYERS LIABILITY/WORKMEN COMPENSATION

The Employer’s liability or Workmen’s compensation policy is to cover the insured’s employees, who, in the immediate service of the insured shall sustain personal injury or disease arising out of and in the course of his employment by the insured in the business.

Additionally if the insured shall either at common law or under the legislations mentioned in the schedule be liable to pay compensation for such injury, the Company will indemnify the insured against all sums for which the insured

PERSONAL ACCIDENT/ GROUP PERSONAL ACCIDENT

Personal accident and Group Personal Accident policies are designed to compensate the insured against bodily injury, loss of limb or limbs, loss of eye or eyes, permanent total disablement, temporary total disablement, medical expenses and death.

In other words, if during the period of Insurance, the insured sustains bodily injury which independently of any other cause results in his / her death, temporary disablement or permanent disability, the insurer agrees to pay the insured the benefit specified in the schedule of benefits under the policy.

PRIVATE HEALTH INSURANCE

Health Insurance is a major and important part of the solution to meeting the long-term challenges of health systems as it eases the burden of funding and preserves choice within the health arena. A provisional premium computation can be found as follows;

VARIOUS ANNUAL BASE PREMIUMS PER MEMBER

PREMIER REGULAR PLAN GHC 1,000.00 ESSENTIAL (10 OR MORE)

GHC 1,100.00

LESS THAN 20 LIVES GHC 1,200.00

PREMIER MERCURY PLAN

GHC 1,300.00 EXECUTIVE (10 OR MORE)

GHC 1,650.00

LESS THAN 20 MEMBERS GHC 1,560.00

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PREMIER PLATINUM PLAN

GHC 1,550.00 PREMIER (10 OR MORE) GHC 2,750.00


PREMIER PLATINUM PLUS PLAN

GHC 2,200.00 PREMIUM (10 OR MORE) $ 3,000.00


BENEFIT TABLE

PREMIER REGULAR PLAN

IN-PATIENT (20,000.00)

OUT-PATIENT (GHC 2,000)

ESSENTIAL (10 OR MORE)

IN-PATIENT (GHC 20,000)

OUT-PATIENT (2,000.00)

PREMIER MERCURY PLAN



EXECUTIVE (10 OR MORE)



PREMIER PLATINUM PLAN


0UT-PATIENT (6,000.00)

PREMIER (10 OR MORE) IN-PATIENT (70,000.00)


PREMIER PLATINUM PLUS PLAN



PREMIUM (10 OR MORE)

IN- PATIENT (70,000 +$200,000.00)


OUR LISTED INSURANCE COMPANIESBelow is the list of insurance companies we transact business with. We have carefully arranged it in alphabetical order for easy identification of your existing insurer if any.

1. Activa International Insurance Company Ghana2. Allianz Insurance Company Ghana Limited3. Best Point Insurance Limited4. Saham Insurance Ghana Limited

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5. Donewell Insurance Company Limited6. Enterprise Insurance Company Limited7. Equity Assurance Company Limited8. Ghana Union Assurance Limited9. Glico General Insurance Company Limited10.Imperial General Assurance Company Limited11.International Energy Insurance Company Limited12.Metropolitan Insurance Company Limited13.Millennium Insurance Company Limited14.NEM Insurance (Ghana) Limited15.NSIA Ghana Insurance Company Limited16.Phoenix Insurance Company Limited17.Prime Insurance Company Limited18.Priority Insurance Company Limited19.Provident Insurance Company Limited20.Quality Insurance Company Limited21.Regency Alliance Insurance Ghana Limited22.SIC Insurance Company Limited23.Star Assurance Company Limited24.Unique Insurance Company Limited25.Vanguard Assurance Company Limited26.Wapic Insurance (Ghana) Limited

CONDITIONS FOR THE APPOINTMENT This serves to confirm that [your company name] have appointed Byll Wych as Insurance Brokers. This authority cancels all previous authorities.

We understand insurance will be placed with insurance companies by Byll Wych on authorization from us.

We authorize the disclosure of information on previous insurance.

We agree to Byll Wych releasing to insurers or other relevant parties information regarding this insurance.

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We agree that Byll Wych shall place insurance on our behalf and invoice us for the premium payable.

We understand Byll Wych will use all reasonable precautions in choosing insurer(s) and will advise us adequately in time of claims.

N.B: You can find on the next page the sample letter you can put on your letter head to give Byll Wych the mandate to do all your insurance transactions on your behalf.

Sample

[Your Letter Head] [Date]

Byll Wych Insurance BrokersP. O. Box AD 200Adabraka, Accra

Dear Sir,Page | 14

Appointment as Insurance Broker

This serves to confirm that [your institution name] have appointed Byll Wych Insurance Brokers as its Insurance Broker. This authority cancels all previous authorities.

By the signature indicated below, Byll Wych is authorized to:

Have access to information on previous insurance policies.

Release to relevant insurers or parties information regarding this insurance.

Place insurance on behalf of the Institution and invoice the premium payable.

Use all reasonable precautions in placing the insurance and advise adequately in time of claims.

Yours faithfully,

Signature & designation

“THANK YOU FOR TAKING TIME TO GO THROUGH THIS PROPOSAL. WE HOPE IT ANSWERS ALL QUESTIONS ABOUT OUR SERVICE, IF NOT, KINDLY CONTACT US ON THE FOLLOWING NUMBERS:

0201113192, 0201113193, 0201113194, 0201113195, 0201113196

OR THE CONTACT INFORMATION PROVIDED ON THE COVER PAGE.”

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BYLL WYCH

BYLL WYCH PROPOSAL

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