Published in Mint on 1 July 2015, Written by Kapil Mehta A friend owns a house in South Delhi where she has regularly paid insurance charges to the maintenance agency. Last year her home was gutted by a fire. The insurance claim of Rs.20 lakh was denied on two counts: the insurance had been bought […]
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Why it’s important to have home insurance
Published in Mint on Apr 27 2015 Home is a name, a word, it is a strong one; stronger than magician ever spoke, or spirit ever answered to, in the strongest conjuration.” These lines belong to Charles Dickens, but are apt for all of us. Those who have suffered in the earthquake in Nepal and […]
Will RBI nod make banks insurance brokers?
Published in Mint on Jan 19 2015 After deliberating for a year, the Reserve Bank of India (RBI) came out with guidelines on entry of banks into insurance business on 15 January, allowing banks to become either a corporate agent or an insurance broker. As insurance brokers, banks become directly responsible for the sale of […]
We sold insurance worth Rs. 21 crore in 3 years and turned profitable
Published in Yourstory on 22nd August 2014 SecureNow is a fast-growing insurance broking company based in Delhi. It helps institutional clients purchase employee benefits, property, and liability insurance solutions. With unique features such as instant quotes for bespoke products, it has quickly made a name for itself.Brainchild of Abhisek Bondia and Kapil Mehta, SecureNow has […]
Motor insurance covers primary and non consequential damage
Published in Mint on Nov 12 2013, Written by Kapil Mehta I own a car which is used only in my farm and we do not take it out on the roads. Can I get this car insured? If so, what will be the cost of premium? —Akhilesh You must insure your car. It is mandatory […]
If a private car is given for commercial use, claim during that period is inadmissible
Published in Mint on 5th February 2018. Written by Abhishek Bondia. I had lent my car to a friend for election campaigning. However, my friend told me that the car got stolen and he has not lodged a police complaint. Can I file my claim in the normal course? The car was most likely lost […]
A ‘return to invoice’ cover can pay the original cost of a vehicle instead of the IDV
Published in Mint on 4th September 2017. Written by Abhishek Bondia I live in Mumbai. My car was parked outside the building and I fear that it may have got carried away in flood waters. I bought it in 2015 for about Rs40 lakh. I have filed an FIR but there is no report of […]
What Are Some of The Conditions Applicable To The Construction All-Risk Policy Claims?
There are two types of losses payable by a construction all-risk (CAR) policy: Material Damage Third-Party Liability These conditions are derived from the principle of indemnity and ensure that the insured does not profit from the insurance claims. Conditions Applicable to Material Damage Claims Repairable damages should be repaired unless the cost of repair exceeds […]
How does Reinstatement of Indemnity Limit Work in Construction All Risk Policy?
As a building developer or contractor, you are required to take steps to safeguard your capital investments against various losses or damages along with the work in progress or the materials which were bought for use in the project. Here, the Construction All Risk Insurance policy can help you by covering losses or damages to […]
What is the basis of Loss Settlement in Construction all-risk policy?
Construction is vulnerable to various losses or damages. As a contractor, it is necessary for you to meet the client’s deadline. Here construction all-risk insurance policy can help you by covering various risks during construction. Mainly, it offers coverage for physical loss or damage to the property, tools, plant & machinery, along with the third-party […]