Life insurance, fire insurance, and marine insurance are three different types of insurance policies that provide protection against different types of risks. Life insurance is a contract between an insurer and the insured party that provides financial support to the insured party’s beneficiaries in the event of their death. The policyholder pays a premium, and […]
How to compare insurance quotes? Things to remember
Whatever insurance policy that you buy, you have to pay a premium for the same. Premium is the consideration that is paid for the insurance contract. It is like the cost of securing the coverage. The premium for insurance policies is not the same across insurance companies. Every company has its own pricing policy determined […]
Why are the Insurtechs making Rapid Inroads?
The traditional insurance operating model is an extraordinarily robust one that operated for a long period of time. However, it is starting to experience the digital impact as well. It is altering the delivery of services and products, as well as the structure of those services and products, and even the operating model itself. In […]
Augmenting role of Social Insurance
Guest Contributor: Himanshu Kalra E-mail: email@example.com Disclaimer : Views expressed in the article are solely of the author. Unemployment in America rose higher in three months of COVID-19 than it did in two years of the Great Recession. It recorded 14.7% unemployment rate in April 2020 which is highest in the country in post – […]
Intermediaries and the enhanced foreign investment limit
Published in Asia Insurance Review. In 2019 the Indian government permitted 100% foreign investment in insurance intermediary companies. Has this move been useful and productive for them? Asia Insurance Review spoke with SecureNow’s Mr Kapil Mehta to understand the implications of the change. The insurer and the insured are the two main components of insurance; […]
How are Claims Estimated in General Insurance Policies?
Claims are estimated in General Insurance Policies based on the: Terms decided at the beginning of the policy The type of policy The type of asset insured The Assessors Report All claim payments under general insurance policies will also account for applicable deductible and co-payment clauses before paying the claim amount. Case on How are […]
Common General Insurance Terms You Should Be Aware Of
Here are some of the commonly used general insurance terms: Insurance: It is a contract between two people (or companies) wherein one of the persons agrees to cover the risk of the former and promises to compensate him in the case of any loss. Proposal: It is the application form for applying for insurance cover. […]
What is General Insurance?
Any insurance other than the life insurance is called as general insurance. There are certain principles that guide any insurance contract, the principle of indemnity being one of them. This principle states that the insured should not profit out of the insurance claim, i.e. insurance contract is supposed to return less than or equal to […]
5 Benefits of Buying General Insurance Online
How do you decide which insurer to go for when buying a general insurance policy? How do you decide which plan suits your needs best? Can you ensure that you have understood everything about the policy and process? Will your claim be quickly processed when you need it most? All these are questions which keep […]
What are the different types of General Insurance Policies?
Conceptually and legally, Insurance is of two types – life and general insurance. Any insurance policy insuring anything other than risk to a person’s life is a ‘general insurance’ or ‘non-life insurance policy.’ General insurance policies will insure anything other than the life of an individual. For example: Depending on what (the asset which is […]