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. Key Takeaways Dual State Protection Continuum: The policy provides comprehensive coverage for processing equipment, protecting assets whether […]
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. Key Takeaways The Statutory Safety […]
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? Key Takeaways Strict Adherence to Timelines: Keeping a policy active requires swift paperwork processing; you must fill out the insurance claim form […]
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?
Key Takeaways Defective Product Bodily Injury Protection: Manufacturing flaws can trigger massive lawsuits, but a policy covers legal expenses and pays compensation if a sold item breaks and injures a child. Premises Slip-and-Fall Coverage: Everyday upkeep can lead to major accidents, which is why a policy saved money for a restaurant owner when a customer […]
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, […]
Things to Know Before Buying Professional Indemnity Policy
Professional indemnity insurance is known to be popular amongst areas of expertise like accountancy, architecture, medicine, or the law. It is also highly useful to anyone giving professional advice, consultancy, or design work. Buying professional indemnity insurance is not legally compulsory. However, some organizations will only work with a consultant who has PI insurance coverage […]
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. Key Takeaways Contract-Driven Limits: To set an adequate safety net, businesses must consider contractual obligations to decide the minimum […]