With the advent of the industrial revolution, it had a profound social impact, particularly in terms of the number and severity of accidents in manufacturing plants. With the evolution of sophisticated manufacturing product lines and the implementation of heavy machinery, chemicals, and robotic engineering, the risks for human workers have increased dramatically. In response to […]
Drone insurance: All you wanted to know about drone insurance
Drone insurance is growing popular as many types of businesses have adopted drones. They have become the preferred mode of delivery or photography. A drone can be an expensive piece of equipment costing several lakhs of rupees. Hence it is important to insure your drones and several insurance companies today provide comprehensive coverage to remotely […]
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 workings and in rest conditions. We have highlighted a few situations below that lead to machinery damage – Short circuits, excess voltage, […]
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 the […]
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 […]
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 […]
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: […]
What are the different types of Business Insurance for small businesses?
Business insurance, also referred to as commercial insurance policy, 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, […]
Directors and 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 the Director and Officer may have committed in their positions. The policy provides protection in the event of any actual or alleged error, misstatement, omission, […]
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 to buy a commercial general liability insurance policy then you must know what steps you should follow. The following steps will help you to buy Commercial General Liability Policy- Define your requirements As commercial general liability […]