Property Insurance

Fire and Lightning


It is type of insurance whichcompensate insured against financial loss or damage to commercial property being damaged or destroyed by fire and lightening but in response to market demand extensions of cover will be developed for other perils.

Types of fire policies

There are two policies issued under commercial line which are standard fire policy and industrial all risk policy.

1.Industrial all risks  policy

It covers commercial and industrial property from loss or damage other than causes excluded and is used mostly to insure “larger property/factory risks.”

2. Standard fire and lightening policy

The standard policy cover is a named-peril policy covering various perils on demand bases in addition to fire and lightening.

This policy is issued for small to medium businesses to cover loss or risk of fire and demand based causes or perils against insured property.


Scope of cover

The policies under commercial line cover insured’s property includingbuilding, machinery, stocks, furniture, and other contents, against  damage or losses arise out the following major perils

  • Fire;
  • explosion,(excluding explosion of boilers, economizers or other vessels, or apparatus in which steam is generated);
  • direct lightning;


Some of the basic exclusions are damage or loss by:

  • theft during or after occurrence of an insured peril;
  • electrical short circuits,
  • destruction/damage by own fermentation, natural heating or spontaneous combustion;

An overview

Nyala Insurance Share Company (NISCO) was founded in July 1995 following the liberalization of the insurance business to the private sector in 1994 with the Licensing and Supervision of Insurance Business Proclamation No. 85/1994. Read more...


Apart from its major investments in real estates in the downtowns of Addis Ababa, Bahir Dar and Nazareth, Nyala Insurance selectively invests in various financial institutions like Dashen Bank, which have potentially high investment returns. Read more...


Contact us

Protection House, Mickey Leland Street

Tel: +251-11-6626679/80/76