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.
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Emerging risks in transporting goods via water
Oceans connect continents in the world and thus, they give many opportunities for the transportation of goods as well. However, while sea transport entails many benefits, various hazards go with it as well. Let’s have a look at the risks that are associated with transporting goods via water. Weather Hazards Certain risks in transporting goods […]
How Can Your Business Embrace Unpredictability?
By successfully embracing uncertain times in one’s business, one can learn how to beat the odds and grow substantially. Here’s how you can be successful at weathering unpredictable events related to your business.
Staying healthy despite high levels of air pollution – eleven quick tips
As the winter season approaches in our country, wind movements reduce and the cold air settles low over the ground. Well-populated cities in the northern, western and eastern parts of the country traditionally face a blanket of smog at this time, created by dust, vehicular and industrial pollution which causes air pollution. Unfortunately in the […]
Are there any real life examples where D&O has helped an organisation?
A Directors & Officers Liability Policy covers the directors and officers of a company against any financial liability. They may suffer in case they commit any error or mistake in their jobs. The d&o organization are accountable to the shareholders, employees, and customers of the company. If they commit any error in discharging their duties, and […]
State the difference between Carriers Legal Liability and Multimodal Transport Operator Liability?
The demarcations between carriers legal liability (CLL) insurance and multi-modal transport operator (MTO) legal liabilities insurance are defined in terms of different modes of transport coverage, coverage of the geographical region, and the service provider’s statutory requirement of buying the respective policy. Carrier legal liability covers the legal liability arising due to fire or accident […]
If you own a small or medium business, do you need to buy D&O policy?
Many people believe and advocate that Directors’ and Officers’ liability insurance is necessary only for large enterprises. However, today, many small and medium businesses have started including this policy in their risk management portfolio. Every business, whether it is large or small can make mistakes. Hence, every business needs a quick and reliable recovery plan. […]
Critical illness plans for cancer pay a lump sum if the disease is diagnosed
Published in Mint on 25th June 2018. Written by Abhishek Bondia. What does hypothecation mean? Does it apply to personal accident policies too?—Senthil Hypothecation refers to pledging an asset to a lender. In the event of a default, the lender can confiscate the asset to recover its dues. When an asset is mortgaged, its insurance […]
Q&A: It’s difficult to take cashless cover from two insurers for same claim
Published in Mint on 30th April 2018. Written by Abhishek Bondia Is it possible to get cashless coverage from two insurers simultaneously? —Ravi B. When the sum insured gets used up in one insurance policy, you can claim the balance amount from the second insurer. The second insurer will insist on the final claim settlement […]
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 […]