A specific type of insurance known as “leased equipment insurance” shields companies from monetary losses from renting machinery or other equipment. It ensures that organizations may carry on uninterrupted operations by protecting leased assets from harm, theft, or loss. Leasing equipment insurance is essential since it can help reduce risks, fulfill the lease terms, and […]
Impact of underinsurance on fire insurance claim settlement in Bharat Laghu Udyam Suraksha Policy
Many people opt for insurance policies because they want all or most of their risks to be covered. India’s Bharat Laghu Udyam Suraksha policy ensures such protection of your business – but there are some things a person must know before getting insurance. Let us know the relevance and impact of underinsurance on fire insurance […]
How does an insurer decide premium for high-risk businesses on Floater basis, under Bharat Sookshma Udyam Suraksha?
As India moves towards creating a more secure economy, various new schemes have been launched for the protection of business owners and their business-related properties. One such policy was launched by the Insurance Regulatory and Development Authority of India (IRDAI) is in 2021. It is known as Bharat Sookshma Udyam Suraksha Yojna. Under this policy, […]
How Earthquake extension clause impacts the premium of fire insurance?
A fire insurance policy provides coverage against any property loss or damage in the event of a fire. Policy documents specify perils like fire, lightning, aircraft damage, storm, typhoon, and hurricane, offering insured protection. This article will explore the addition of an earthquake extension clause to a fire insurance policy. Unfortunately, earthquake damage is not […]
What are goods held in the trust clause in fire insurance?
Fire incidents can be destructive and disheartening as they occur. Fire accidents can cause substantial emotional and financial loss. It is prudent for businesses, irrespective of the size and sector, to avail of fire insurance policy to safeguard themselves financially from the losses that may arise from fire incidents. It’s helpful to comprehend the ‘goods […]
Select the right insurer for Hospital Property & Medical lab Equipment
In a country like India, with 50+ insurance companies when it comes to buying a property insurance, it is about trusting an insurer with your hard-earned money. Choosing a right policy for your hospital can be a challenging task, given the multiplicity of products available in the market. Buying an hospital property insurance policy is […]