Law Union and Rock Insurance has designed a combined insurance product for wealthy members of society.
The product, named HNI (High Net-Worth Individual), branded as LUR Hynet, takes into consideration the needs of these clients, such as exclusivity, confidentiality, and flexibility.
According to the company, this category of people who have more than one house, usually don’t remember to insure the one they do not live in.
Speaking on the product, Executive Director of Law Union and Rock Mr Supo Sogelola said: “What makes the product unique is that it is comprehensive and helps protect you from risks you previously were not covering or aware of. For example, many HNIs have more than one house, but they usually insure the one they live in. Should there be a fire in the other house they own and that house is uninsured, the client would suffer greatly from this event.
“The product covers all forms of general insurance risk a client may encounter or may be exposed to. This includes Motor, Home, Personal Accident and Travel insurance.
‘’The product is designed to cater for not just the needs of the insured, but that of the family, domestic staff and physical assets. This means that the insured can cover his insurance needs and that of his family, his driver, cook, gateman, as well as cover other buildings he owns.”
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