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 […]
Liability Insurance
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 […]
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 benefits of Business Insurance?
Running a successful business always comes with inherent risks. A client could file a suit, a natural disaster can ruin things, or someone can get injured on the site. For this reason, it is essential that a business has an insurance policy in place to protect itself as well as its assets. So, what are […]
What is the Difference Between Claims Made and Occurrence Policy?
When you have a commercial general liability insurance policy, you get the option to choose between two types of policies—claims made and occurrence. Let’s understand the difference between Claims Made and Occurrence – Coverage Starts In case of an occurrence policy, the coverage starts the time an injury takes place during the policy term. While […]
What is the difference between Liability cover and Medical Expense cover in a Commercial General Liability policy?
A typical commercial general liability insurance offers coverage against claims of bodily injury or property damage for which your company may become liable to pay. A CGL insurance policy comes with comprehensive coverage. In commercial general liability insurance, there are two coverages available— liability cover and medical expense cover. In the case of a liability […]
What are the most important features of an umbrella insurance policy?
An umbrella insurance policy is a type of extra liability insurance policy used by many businesses. This insurance is crafted to protect the insured against significant claims and lawsuits. And ultimately helps to protect the insured’s assets and the business’s future. So let’s discuss in this article what are the important features of an umbrella […]
What is Liability Insurance?
Liability insurance is a part of commercial insurance which is there to protect the purchaser of the policy (i.e. policyholder). Various risks of liabilities can arise from lawsuits and similar claims. There are various types of liability insurance policies, like cyber risk, directors’ & officers’ liability insurance, product liability, etc. Commercial general liability insurance is […]
What are the different types of liability insurance?
A liability insurance policy offers to cover business owners, professionals, and self-employed people against the cost of compensation claims due to malpractice, injury, or negligence. So, let’s discuss what are the different types of liability insurance policies. There are different types of liability insurance policies as mentioned below: 1) Commercial general liability (CGL) policy: A […]
Who is qualified as an Insured under Commercial General Liability Insurance?
Commercial General Liability protects the insured against bodily injury and property damage. But it is essential to understand who is insured under this Commercial General Liability policy. Persons or Organizations can qualify as insureds. So, who can qualify as insured under a specific condition are below. Sole Proprietorships: In the case of an individual, insured […]