GENERAL INSURANCE

Travel insurance is also known as overseas insurance. It is a comprehensive policy covering unexpected medical and non-medical expenses when you travel abroad. It even insures you against any unfortunate accident you may be involved in while overseas. No matter who you are - a business traveller or a leisure traveller, with the best travel insurance by your side, you will be protected against any possible financial contingency due to unfortunate events such as personal liability, loss or delay in checked baggage, passport loss, medical emergency or an accident while travelling.

Need for Fire Insurance:

The existence of material property susceptible to damage or destruction by fire or other peril.

The fact that material property has intrinsic value measurable in terms of money recognized by the economic beliefs of society.

The fact that the occurrence of a fire will result not only in loss of or damage to material property but also other consequential losses such as loss of production causing loss of.

Insurable Property:

The fire insurance policy is meant to cover erected fixed assets and movable assets whilst lying at a particular location and declared accordingly for insurance. It includes:–

BUILDINGS

ELECTRICAL INSTALLATION IN BUILDINGS

CONTENTS OF BUILDINGS SUCH AS MACHINERY, PLANT AND EQUIPMENT, ACCESSORIES, ETC.

GOODS (RAW MATERIALS, IN PROCESS, SEMI-FINISHED, FINISHED, PACKING MATERIALS, ETC) IN FACTORIES,

GODOWNS, TANK FARMS

GOODS IN THE OPEN

CONTENTS IN DWELLINGS, SHOPS, HOTELS, ETC

FURNITURE, FIXTURES AND FITTINGS

PIPELINES (INCLUDING CONTENTS) LOCATED INSIDE OR OUTSIDE THE COMPOUND.

There are 12 insured perils.

FIRE

LIGHTNING

EXPLOSION/ IMPLOSION.

AIRCRAFT DAMAGE.

RIOT, STRIKE, MALICIOUS AND TERRORISM DAMAGE.

STORM, TYPHOON, HURRICANE, TORNADO, FLOOD AND INUNDATION

IMPACT DAMAGE

SUBSISTENCE AND LANDSLIDE INCLUDING ROCK SLIDE.

BURSTING AND OVERFLOWING OF WATER TANKS, APPARATUS AND PIPES.

MISSILE TESTING OPERATIONS.

LEAKAGE FROM AUTOMATIC SPRINKLER INSTALLATION

BUSH FIRE.

EARTHQUAKE(ADD ON COVER)

The transit of goods by rail, road, sea and airways creates a range of unique risks. It requires prudent management to understand the exposure and work for mitigating the risk either through insurance or risk management program as every cargo has its unique challenges. Transits for few commodities like pharmaceuticals, food stuff and perishables, coal, project cargo requires special expertise.

This is an All Risk policy covering sudden and unforeseen physical damage to machinery insured by any cause or peril not specifically excluded under the policy. The policy is convenient and easy to understand, with easy documentation and hassle free claims service

The insurance policy compensates the insured in case of accidental death, loss of limbs and eyes, permanent total disablement and permanent partial disablement. Nowadays accidents are a matter of common occurrence and can cause Death or Disablement. An Insurance coverage would be essentially required to provide protection to the members of an organization. A Group Personal Accident Policy is an ideal solution for this.

COVERS ACCIDENTAL DEATH, PERMANENT DISABILITY AND TEMPORARY TOTAL DISABILITY. IT ALSO COVERS MEDICAL EXPENSES LINKED TO ACCIDENT.

IT IS POSSIBLE TO HAVE VARYING SUM ASSUREDS FOR DIFFERENT COMPANIES. COVERAGE CAN VARY BY GRADE, DESIGNATION, PROFILE, SALARY AND MARITAL STATUS.

THE PROPOSER CAN EITHER OPT FOR A BASIC COVER FOR DEATH ONLY FOR WHICH THE PREMIUM IS MINIMUM OR ONE CAN TAKE AN UPGRADED COVER TO INCLUDE PERMANENT TOTAL DISABLEMENT / PERMANENT PARTIAL DISABLEMENT / TEMPORARY TOTAL DISABLEMENT/ MEDICAL EXPENSES COVER.

Group Insurance is simply an insurance package an organisation buys for the benefit of its employees. The organisation may design a self-insured plan itself or select a pre-planned insurance policy from an insurance company. The cost of premiums, in case of group health insurance, will vary from one insurance policy to the other. Similarly, insurance coverage, payment and premiums will also be different for each individual. You can compare group health insurance quotes of different service provider & opt for the best fit option.

GROUP HEALTH INSURANCE PROVIDES SIGNIFICANTLY BETTER BENEFITS THAN INDIVIDUAL HEALTH INSURANCE. FOR EXAMPLE, EMPLOYEES OR GROUP MEMBERS DO NOT REQUIRE A MEDICAL CHECKUP, WAITING PERIODS FOR EXISTING DISEASES CAN BE WAIVED OFF, PREMIUMS ARE LOWER, MATERNITY EXPENSES OR CORPORATE FLOATERS CAN BE ADDED TO THE COVER. GROUP HEALTH INSURANCE IS AN EXCELLENT TOOL TO ATTRACT AND RETAIN TALENT FOR ORGANISATIONS.

IN GROUP INSURANCE POLICIES, THE RISK IS SPREAD OVER A LARGE GROUP OF INDIVIDUALS AND THAT HELPS REDUCE THE PREMIUM COST DUE TO THE ECONOMIES OF SCALE. HOWEVER, THE PREMIUM CAN BE HIGHLY VARIABLE FOR GROUP HEALTH INSURANCE DUE TO CLAIM RATIO AND NUMBER OF EMPLOYEES/MEMBERS ADDED TO OR REMOVED FROM THE COVER.

YOU CAN CUSTOMIZE THE POLICY ACCORDING TO YOUR NEEDS. YOU CAN ADD MORE BENEFITS APART FROM THE BASIC POLICY PROVISIONS ALREADY AVAILABLE IN ANY HEALTH POLICY. FOR EXAMPLE, PARENTS CAN BE COVERED, DAY CARE TREATMENTS CAN BE INCREASED, ACCIDENTAL COVER RIDER AND MATERNITY BENEFITS CAN BE INCREASED. THIS FLEXIBILITY ALLOWS THE GROUP HEALTH INSURANCE TO BE TAILORED TO YOUR BUDGET WITH YOUR SPECIFIC REQUIREMENTS.

GROUP HEALTH INSURANCE IS ADMINISTRATIVELY MUCH EASIER TO PLACE AND YOU NEED NOT SPEND TIME IN MEDICAL CHECKS OR IN DEALING WITH THE AFTERMATH OF INSURANCE GETTING REJECTED.