Products-Completed Operations in a Commercial General Liability Insurance Policy includes all Bodily Injury and Property Damage occurring away from premises owned or rented by the Insured and arising out of Insured's product or Insured's work except Products that are still in the Insured's physical possession or Work that has not yet been completed or abandoned. Products-Completed Operations Liability is an important coverage in a Commercial General Liability Insurance Policy most often utilised by Construction Companies.
Workers in India are entitled to a safe working environment as per the law. Employers can be held legally liable if an employee suffers from any workplace related injury.
Workplace-related accidents and injuries are a common occurrence and such injuries leave the family of employees in an extremely vulnerable position since the injured worker faces a loss of earnings.
Hence, there was a need to protect workers who suffer from injuries during the course of their duty.
Fire Accidents occur unexpectedly and may cause huge damage. It takes years of efforts to rebuild assets such as home, offices and factories. As a result, it is extremely important to protect your assets with a Fire Insurance Policy. This article explains the importance of a Fire Insurance Policy in detail.
Co-payment means a cost sharing requirement under a Health Insurance Policy that provides that the policyholder bears a specified percentage of the admissible claims amount. Essentially, Co-Payment in a Group Health Insurance Policy means that the claim amount will be shared by both the Insured and the Group Health Insurance Company in the specified percentage. That means, the Insured will have to bear a portion of the expenses out of his own pocket.
A Fire Insurance Policy excludes claims on account of Loss or Damage caused by War, Ionising Radiations, Pollution, Short Circuits, etc. This article discusses the exclusions of a Fire Insurance Policy in detail.
A Group Health Insurance Policy offers various features such as Room Rent Limit, Co-Payment, Daycare Procedures, Pre-Existing Disease Coverage which can be customized. This article discusses the features of a Group Health Insurance Policy in detail.
The directors and officers of a company play critical roles in its management and administration. Many directors lend their expertise to the company and make executive decisions that affect the company’s growth and profitability. Though the directors and officers might not be responsible for the day-to-day operations of the company, these directors and officers they do have fiduciary responsibilities such as providing oversight and making sure that decisions are taken in the best interests of the shareholders
A GMC Policy provides cover for hospitalization expenses of employees during the Policy Period while a GPA Policy provides reimbursement to the Insured in case of Death or Disablement of the Policyholder because of an accident. This article explains the difference between the GMC and GPA Policy with respect to Coverages, Benefits, Features, Exclusions etc.
A Group Health Insurance Policy offers Tax Benefits to the Employer as well as the Employee. The Premiums Paid for the Group Mediclaim Policy are a Tax Deductible Expense for the Employer whereas the Claim Amount Received is Tax-Free in the hands of the Employee. This Article discusses the Tax Benefits of a Group Health Insurance Policy in detail.
A Commercial General Liability Insurance Policy has various limits and it is important to understand as to how the various limits apply and how they impact the Cost of Commercial General Liability Insurance Policy.
A Group Health Insurance Policy provides coverage for hospitalization expenses incurred by the Employees on account of illnesses or injuries during the Policy Period. This article explores the various Group Health Insurance Companies in India along with their coverages and features in detail.
A Standard Fire and Special Perils Insurance Policy provides coverage for damage to the Insured Assets because of Fire and allied Perils such as Explosion/Implosion, Earthquake, Terrorism, Storm, Tempest, Floods Inundation (STFI Cover). This article explores the coverages in a Fire Insurance Policy in detail.
Today Cybercrimes is emerging as one of the top risks faced by companies globally. Confidential Data of millions of customers have been leaked online.
A Study by Ponemon Institute in 2020 estimated that the cost of a data breach incident reached $3.83 million. This cost of data breach incidents has been rising in the recent years and a report by cybersecurity ventures has claimed that cybercrime costs would grow to $10.
A Housing Society Insurance Policy or a Building Insurance Policy is a Property Insurance Policy that provides reimbursement to the Insured if the building suffers from any damage due to Fire, Theft, or other Natural Calamities. The Policy provides coverage to the Building Structure and Home Contents as well.
Key Man Insurance – What is it? A Keyman Insurance Policy is usually taken by a business or organisation to insure the key people in the organisation who have a specialized skillset or contribute significantly to the profits of an organisation. Simply put, a Keyman Insurance Policy is a Term Life Insurance Policy taken by a company to protect the key people in its organization, the loss of whom can be detrimental to the organization.
One of the biggest reasons for claim rejections under an insurance policy in India is that the Insured is unaware of the exclusions under the policy. It can be a very bad situation for the Insured, since he is under the notion that he is covered under his insurance policy and later realising that the claim is not payable because the cause of the claim is excluded under the insurance policy
A Group Health Insurance Policy provides coverage for hospitalization expenses incurred by the Employees on account of illnesses or injuries during the Policy Period. A Group Health Insurance Policy helps small business by providing insurance coverage for employees and relieving financial stress. This article discusses the coverages and benefits of a Group Health Insurance Policy for small businesses in detail.
A Standard Fire and Special Perils Insurance Policy provides coverage for damage to the Insured Assets because of Fire and allied Perils such as Explosion/Implosion, Earthquake, Terrorism, Storm, Tempest, Floods Inundation (STFI Cover). This article explores the coverages in a Fire Insurance Policy in detail.
Introduction
With the pandemic, a lot of focus is on health insurance. Medical uncertainty and rising medical expenses are causing people to realize the importance of owning health insurance policies for themselves and their families. Employers have had insurance plans in place to increase employee productivity, such as the group mediclaim insurance policy for employees. Rather than an individual health insurance policy, a group health insurance plan covers a group of people, usually employees, under a single group health insurance policy.
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Today a large part of business is conducted on credit sales. Receivables constitute approximately 40% of a company’s balance sheet and a payment default might lead to financial stress for the seller. In such a scenario, a Trade Credit Insurance Policy has emerged as an effective tool to secure one’s business against risk of unpaid invoices.
Credit insurance in India is an insurance policy that provides coverage against the risk that a buyer does not pay for the goods that he has purchased.
Accounts Receivables are one of the largest assets of a Company. A large part of today’s business is conducted on credit basis with the seller extending credit to the buyer. However, the risk of unpaid invoices is one risk which most business owners don’t pay enough attention to.
Ignoring the risk of unpaid invoices can have disastrous consequences for business owners. Many business owners have faced major setbacks because they ignored the risk of unpaid invoices.
Nowadays, many companies are insuring plant and machinery or stocks looking at the lowest premiums without considering coverages or clauses included in the Factory Insurance Policy. This can be a big mistake. There are many add-on covers which are useful for specific industries and the inclusion of such covers is of paramount importance.
It is said that a Factory Insurance Policy is only as good as the detailed coverages it has.
There are various types of Fire Insurance Policies available to cater to the requirements of different types of businesses such as a Floater Policy, Stock Declaration Policy, Agreed Value Policy etc. This article explores the different types of Fire Insurance Policies in detail.
A comprehensive Jewelers Block Insurance Policy is an essential requirement for all jewelers and diamantaires. It will provide coverage for a wide range of risks and will be explicitly tailored to the business needs and circumstances of the jewelers and diamantaires. However, there are some things that the insurance may not cover, such as unexplained loss or damage to the jewelry item that is being worked upon.
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In order to help protect themselves from potential disasters, manufacturers should have a well-designed insurance portfolio. However, not all realize the importance of protecting their business against these risks as each case is unique and different for every manufacturer. The Factory insurance policy cost depends on what kind it is and which risk you want to be covered by your Factory Insurance Policy.
A factory owner can decrease the risks of his business by covering them with different insurance types.
Factories and warehouses are involved in manufacturing and storing huge quantity of goods on a yearly basis. The value of such goods runs into crores of rupees. Damage to the factory or goods is one of the biggest risks factory owners face as it would mean a huge financial loss along with interruption of business operations for a considerable amount of time.
Since the owner is exposed to huge risk, it is always a prudent decision to purchase a Factory Insurance Policy.
Litigation has increased tremendously in recent times. The cost of defending against such litigations has also shown a consistent upward trend.
Employees today are completely aware of their rights and are not afraid to approach the courts to protect them. Similarly, shareholder activism is also on the rise and there are incidents of shareholders approaching courts against the Directors and Officers to protect their rights.
This is what makes a D&O Insurance Policy an absolute necessity in today’s times.
What is a Corona Kavach Insurance Policy?
A Corona Kavach Health Insurance Policy is a Health Insurance Policy designed to cover hospitalisation expenses on account of Coronavirus-related hospitalisation.
This Policy can be especially useful for people who do not have a regular health insurance policy as Hospital bills for CoVID can run into lakhs of rupees.
What Does a Corona Kavach Insurance Policy Cover?
A Corona Kavach Insurance Policy covers the following:
