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How is the claim value arrived at for machinery breakdown policy?

Claim in  Machinery breakdown insurance policy covers loss due to sudden and accidental machinery damage. Damage could be a result of internal and external causes. The cover is offered for machinery in both working and in rest condition. We have highlighted a few situations below that lead to machinery damage – Short-circuits, excess voltage, faulty electrical […]

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How does product recall liability policy work, and what does it cover?

Product recall is a request from the manufacturer to return a product after the discovery of safety issues. Or product defects that might endanger the consumer or put the maker/seller at risk of legal action. The product recall insurance is provided as an add-on to the product liability insurance policy. Product recall insurance within product […]

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The Most Significant Liabilities for a Company Director

The Most Significant Liabilities for a Company Director Introduction– The Companies Act, 2013 (“The Act”) defines a director to mean ‘a director appointed to the Board of a company’. The Act consists of the concept of an ‘officer who is in default’ for the purposes of affixing liability on such person in respect of any […]

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How to file a claim under Commercial Liability Insurance?

When a loss or an accident occurs in the business that demands you to file a claim under your commercial liability insurance policy. So how to file a claim under Commercial Liability Insurance? There are a few steps that you must follow: Contact your insurance agent: This could be the person who has helped you […]

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Who can purchase Commercial Liability Insurance?

Commercial liability insurance is a smart way to protect your business against unfortunate expenses in case of liability arising out of damages to property, bodily injury, and other business operations. Whether it is a small business enterprise, a start-up, or a well-established corporate business, one ugly lawsuit may upset the finances of your business straight […]

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What are the advantages of a Commercial Liability Insurance plan?

A business can protect itself by purchasing a commercial liability insurance plan, which offers the following benefits: Bodily injury liability: It protects your business if injuries are caused to the other person due to your business operation. Property damage liability: It protects your business if damages occur to the property of others. Personal injury liability: […]

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What are the different types of Business Insurance for small businesses?

Business insurance, also referred to as commercial insurance, is a combination of insurance plans catering to a multitude of business needs. Based on the type of activity in the firm, any or multiple of the following different business insurance policies can be bought: Office Premises / Shop Insurance Stocks / Goods (Raw, in process or […]

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Directors & officers (D&O) liability insurance

Directors and Officers liability insurance protects past, present and future directors and officers of profit or nonprofit companies (Listed and Non-Listed) from damages resulting from alleged or actual wrongful acts Director and Officer’s may have committed in their positions. The policy provides protection in the event of any actual or alleged error, misstatement, omission, misleading […]

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What are the Steps to Buy Commercial General Liability Policy?

Commercial general liability insurance plays a crucial role in covering property or bodily damages-related claims. If you are interested in buying a commercial general liability insurance policy, the following steps will help you to buy  Commercial General Liability Policy- Define your requirements As commercial general liability insurance policy plays an imperative role, it is essential […]

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