Claim in Machinery breakdown insurance policy covers loss due to sudden and accidental machinery damage. Damage could be a result of internal and external causes. The cover is offered for machinery in both workings and in rest conditions. We have highlighted a few situations below that lead to machinery damage – Short circuits, excess voltage, […]
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What options are available for a property owner to arrive at sum insured?
Whenever you opt-in for property insurance coverage, the first information you will have to provide to the insurance company is the value of the property to be covered, referred to as the sum insured in insurance terms. Many times we have observed that clients are not able to provide accurate value of the sum insured […]
What is a contribution clause and how does it apply during claim settlement?
The principle of contribution is implemented when multiple insurance policies are covering the same property or loss, the total payment for actual loss is proportionally divided among all insurance companies during a claim settlement. To avoid any confusion later, it is important to know the role of Contribution Clause in claim settlement process. The […]
Explain Sales Turnover Policy and its various advantages
Sales turnover policy (STOP) is a highly evolved marine insurance cover. Policy is designed to protect businesses against financial losses resulting from unexpected events such as fire, theft, or damage to stock, machinery, or property. It provides coverage based on the insured’s sales turnover, offering financial protection for the assets and operations of the business. […]
Why do I need a specific marine policy?
Marine insurance is a comprehensive and extensive domain in insurance with a wide scope of coverage. There are various types of marine insurance and businesses can customise these policies per their needs. The policy can provide open insurance coverage to large exporters whose business involves routine shipping over a specific period. If your business demands […]
The critical importance of having a Directors and Officers Liability policy in the wake of the Covid-19 pandemic.
In today’s times, when Covid-19 is causing havoc both to human life and economic activity, a directors and officers liability insurance policy protect directors against many possible new and emergent risks, apart from the usual liabilities that it covers. 2020 has started on a threatening note as Coronavirus, a new strain of virus that originated […]
What is the importance of having a Directors and Officers Liability policy in the wake of the Covid-19 pandemic?
Covid-19 is causing havoc both to human life and economic activity. In these times, a directors’ and officers’ liability insurance policy protects directors against many possible new and emergent risks. Covid-19 induced responsibilities for Directors & Officers 2020 has started on a threatening note with Coronavirus. As more and more countries have been hit by […]
5 Common Risks That Construction Businesses Face
workers compensation coverage
What are 4 Work-Related Hazards and how to shield them?
For all employers, maintaining the health and well-being of the hired workforce is a significant concern. They want to ensure that all the employees feel safe and secure when they are at the workplace. It is for this reason that all the newly built office complexes are designed as per safety standards. However, certain work-related […]
How to File A Workmen Compensation Claim?
Workmen compensation policy is the primary method by which you (as an employer) meet the responsibilities imposed by the worker’s compensation statutes. The policy covers your statutory liability for death or bodily injuries caused to your employees, which arises during employment.