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Hospital or medical equipment insurance: What is covered and what is not?

Hospitals and medical establishments use sophisticated electronic equipment which is critical for carrying out medical procedures, tests and treatment. Damage to this equipment can hamper work and result in financial losses. Electronic equipment insurance (EEI) can be taken to overcome potential monetary losses and other related risks. We look at the types, features and benefits, […]

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What types of properties can be insured under property insurance?

Owning a property involves a considerable amount of money. Whether you use the property for residential or commercial purposes, any damage to the property can be financially challenging. You might have to spend a considerable amount of money in getting the damages repaired or replaced. Such costs might pose a financial strain and that is […]

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How does underinsurance impact fire insurance claim settlement?

Underinsurance refers to inadequate insurance coverage of the policyholder. In this article, we’ll get to know how does underinsurance impact fire insurance claim settlement.   If a policyholder is underinsured, it will result in economic losses for him/her in the event of a claim far exceeding any premium savings that might have resulted from underinsurance. Therefore property […]

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About the relevance of the designation clause in fire insurance policy?

Designation of property is the most important clause in a fire insurance policy. As per fire insurance policy wordings, designation of property clause is defined as – For the purpose of determining, where necessary, the item under which any property is insured, the insurers agree to accept the designation under which the property has been entered in […]

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