All insurances which are not forming part of Fire, Marine & Engineering verticals are briefly described under Miscellaneous Insurances.
The coverage is for bodily injury, death and disability solely and directly from accident caused by external violent and visible means. In the event of an eventuality, the company shall pay to Insured or his legal personal representative as the case may be the sum stated in the policy. This is not a strict indemnity policy but a benefits policy. It also provides education fund for dependent children. 10% discount can be availed on the gross premium if a family cover is availed.
This insurance is a tailor-made one to cover several risks in one policy to cover the insured building contents, jewellery and other property and liabilities.
Health Insurance Policy
In the present circumstances, the cost of medical treatment cannot be met by individual incomes or savings. Since the corporate hospitals provide best of treatment. People tend to take treatment in those hospitals with charges heavily because of their heavy infrastructures. While we cannot prevent anybody getting sick we can stop becoming insolvent due to treatment charges. By taking health insurance policy in time. There are different health insurance policies which are briefly described.
Individual Health Insurance Policy
The policy covers reimbursement of hospitalisation expenses for illness/diseases or injury sustained by the insured person.
Group Health Insurance Policy
The policy covers reimbursement of hospitalisation expenses for illness/diseases or injury sustained by the Group of people. Policy can be issued to a group of large size which has distinctive identities and objectives like employer – employee, a member of an institution, society, association etc.
This policy is to protect those travelling overseas for BUSINESS / HOLIDAY / STUDENTS / EMPLOYMENT sponsored by Indian employer, to cover against medical expenses, personal accident insurance and loss of passport etc. The premium is based on the different plans on different age groups and depends on the duration of travel. Premium has to be paid in Indian currency but claims will be paid in foreign currency.
This insurance is a tailor-made one to cover several risks in one policy to cover the insured building contents cash in transit, and other property and liabilities.
This insurance is granted to Doctors, Medical establishments, Advocates, Lawyers, Solicitors, Counsels, Chartered Accountants, Architects, Financial consultants, Management consultants, Engineers and Interior Decorators who practise in India.The legal liability to the third parties arising out of professional NEGLIGENCE.
Liability Insurance covers the legal liability of the insureds against any possible legal / court proceedings filed by the aggrieved person /organisations like workmen, Consumer, General public etc., There are a number of liability categories covered under legal liability policies some are mentioned here:
- Workmen Compensation Policy
- Public Liability Policy (Statutory)
- Public Liability Policy (Commercial Liability)
- Directors and officers Liability Policy
- Motor Third Party Liability Policy
- Professional Indemnity policy
- Products Liability policy
- Bankers Indemnity Policy
- Carriers Legal Liability Insurance
For detailed presentation on above policies please contact us.
This insurance is intended to cover against the Legal Liability under carriers Act, for actual, physical loss of damage to goods or merchandise. This insurance consists of basic and wider (wider cover cannot be freely given). The vehicle should have the own damage policy throughout the currency of CLL policy.
This insurance is granted for stock-in-trade, cash-in-safe, fixtures and fittings on the Business premises, against loss of or damage to the property insured by theft following upon actual forcible and violent entry and exit of the premises. Damage to the premises following upon entry as above or any attempt or threat. This insurance is also granted to gold, silver, jewellery, personal effects, and contents of a dwelling house. Moral hazard is of great importance to be seen for this class of business.
This insurance is granted to employers or their employees or other persons whose honesty is guaranteed. This policy provides indemnity against loss of money or goods as a result of acts of fraud or dishonesty on the part of employees. Fraud or dishonesty in general sense, which would include breach of confidence or want financial integrity resulting in the loss to the employer. There are three major types of policies. 1) Individual 2) Collective 3) Floater
This insurance is granted to bankers to protect their property. It’s a package policy consisting of 8 covers i.e. A to H against loss of or damage to their money, securities, hypothecated goods, furniture, etc.
This insurance is granted to the members of Indian cancer society whose age should be between 15 and 70 years. This insurance offers a coverage for Rs.50000/- to meet the costs of diagnosis, biopsy, surgery, chemotherapy, radiotherapy, hospitalisation, rehabilitation. Both the family members have covered regardless the policy in whose name is taken. Reimbursement of claim can be made every quarter for actual expenses until the entire sum insured is exhausted over a period of 5 years or until the patient declared cured. A tax benefit also available under section 36(ib) and 80 D of IT ACT. There shall be one free cancer check-up at any of the cancer society detection center.
This insurance covers against fire, theft, explosion, lightning, burglary, housebreaking, holdup, RSMTD.
This insurance is granted to ESTABLISHMENTS for covering their money in transit. This insurance covers the loss of or damage to cash, cheques, drafts, post stamp & orders, currency notes occasioned by robbery, theft or any other fortuitous cause whatsoever whilst in the transit. Per transit, limit to be specified under the policy. Risks of jewellers, moneylenders, pawnbrokers prior approval required.
This insurance is granted, who uses the neon sign for their business and trade and advertisement at public places. This insurance consists of two sections. 1) Own Damage: Loss of or damage due to accidental external means. Fire-lightning explosion & malicious damages. 2) Public Liability: Liability at law for death, injury to any person or damage to third party property damage caused by the subject matter.
This insurance is granted for plate glass fixed to display windows or showcases of commercial establishments. This insurance covers against loss of or damage to the plate glass occasioned by breakage. This business is accepted as an accommodation to the existing clients. The cover is given to plain glasses only. This insurance being a non-tariff and the following is the suggested Rate to be charged Rs.4% to 7 1/2%. For RSMD is additional premium @0.05% to be charged.