Marsh insurance brokers, NICO General launch policy tailor made for NGOs and SMEs



By Duncan Mlanjira

Leading insurance broker, Marsh Malawi, in partnership with leading general insurance company in Malawi, NICO General has launched a policy tailor made for non-government organizations (NGOs) and small & medium entrepreneurs (SMEs), named Umbrella Premier Policy.

Umbrella Premier is a combination of a number of insurance policies to form one unique product which covers all the risks faced by NGOs and SMEs.

It shall cover for various assets and liabilities ranging from motor vehicles, property, buildings, stocks, computers, laptops, cellphones, accidents to employees, passengers, employees’ personal property, money lost, property in transit, losses resulting from dishonesty of employees and many other benefits.

Official launch

“For Marsh as a leading broker in Malawi to come up with a product in partnership with the leading insurer in Malawi means that such a product is unique and beneficial,” said Marsh’s Managing Director, Mphatso Chadzala during the launch held at NICO Holdings’ Chibisa House office’s in Blantyre.

He outlined that they decided to tailor make the Umbralla Premier Policy after taking into consideration that NGOs play important roles in trying to reach out to remote areas to alleviate rural people’s livelihood and in the process encounter many challenges.

Mandala (centre) launching the product with
Chadzala on his left

The policy shall cover funeral expenses following the death of of up to five employee involved in an accident; shall cover accident medical costs for the driver and passengers and that personal effects lost during the accident shall be paid back.


It shall also offer hotel accommodation following a car accident for two days as they await to be evacuated back to base and that the vehicle involved shall be provided with security services before it can be towed away for repairs, whose cost shall also be covered.

These, among others, Chadzala said makes the policy unique distinctive and should attract the NGOs in order for them to have peace of mind every time they encounter unexpected occurrences during their operations.

High powered delegation

In his remarks, Chief Executive Officer Donbell Mandala said with over 35% market share, NICO General insurance also leads in many aspects including partnerships and innovations and they are open to new innovative ideas from various business partners.

He said 70% of their business come from brokers and agents whilst 30% is from direct clients.

Marsh Malawi is one of NICO’s major brokers amongst the 10 brokers they deal with and that Marsh specifically came up with an initiative to design a new product and approached NICO General to partner with them.

“They will provide the technical support and expertise to underwrite it. This unique tailor-made insurance policy shall ease the insurance arrangement by combining and providing comprehensive solutions and cover under one single policy.

“NICO General insurance has the strongest balance sheet on the Malawi general insurance market and guarantees financial capacity to pay claims of any amount and at any time. 

“Our international global claims paying ability rating is AA-GCR which confirms our financial stability and financial strength. Our dedicated technical team comprises of qualified and experienced professional employees with over 20 chartered insurers across Malawi,” Mandala. said.