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What is the relevance of the designation clause in fire insurance?

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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Who can purchase building insurance?

For people living in or using a building, natural disasters or fires or burglaries are all real concerns. To protect against such risks, owners of commercial or residential buildings buy building insurance. So who can purchase building insurance? Owners of commercial or residential buildings may fully or partially use these structures themselves or rent them […]

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Who can purchase engineering all-risk insurance?

An engineering all-risk (EAR) insurance policy is an ideal purchase for certain businesses. Specifically, such businesses involve some developmental risks that could have devastating financial consequences. For instance, power plants, manufacturing and fabrication set-ups, water and wastewater treatment plants, and telecommunications centers. Engineering all-risk insurance policy offers coverage at several stages of an engineering project. […]

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Risks Involved in Chemical Industry

The chemical industry in India is the third largest producer in Asia and is expected to double its share in the global chemical market by 2021. While chemical manufacturers are expanding due to growth in automotive, textile and construction industry, the risk associated with chemical industry is also growing. Use of new chemicals has increased […]

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Why Should We Buy Property Insurance?

The most important reason to purchase property insurance is the uncertainty of future. You can’t predict what would happen in the next moment, and therefore, to get complete coverage against the life’s uncertainty, it is essential to buy a property insurance policy. A property insurance policy is an umbrella policy which includes office insurance, factory […]

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What property Insurance should SMEs buy?

What property Insurance should SMEs buy? Property Insurance is an essential tool that helps in smooth functioning of business even after a mishap. Every SME owner remains sceptical to buy property insurance but it should be the first priority for small businesses. There are some unfortunate events such as fire, theft, earthquake etc which could […]

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