Owning and operating a restaurant is quite exciting thing, but this also comes with unique risks and challenges. What if your customer suffers from food poisoning and he sues you for that? What if the fire erupts in kitchen due to spillage of hot oil or due to gas leakage? Hence, risk mitigation in restaurant […]
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It is possible to insure gold lying in your bank locker as well as that at your house
Published in Mint on 18th December 2017. Written by Abhishek Bondia I am planning a trip to Indonesia, which is currently in the news for volcanic eruptions. If the airport is shut and my travel plans are delayed, will my insurance cover my hotel and food expenses? What is the cap on such expenses, in […]
Bank locker theft: Who is liable?
Published in Mint on 20th November, 2017. Around 46 years ago, on a September weekend in London, thieves dug a tunnel to enter Lloyds Bank on Baker Street and broke into the safety deposit boxes of the bank, stealing close to £500,000. Thirty six years later, in 2008, in a movie called The Bank Job, Hollywood […]
Distribution Landscape Set To Change Dramatically
Published in Business Word on 7th November 2017 In this interview, Kapil Mehta speaks to BW Businessworld on SecureNow’s business model and growth plans, emerging trends in the insurance space in India, and the challenges of an evolving Health Insurance landscape Kapil, what led you to leave a successful corporate career as the CEO of […]
What is the Scope of Student Safety in Education Package Policy?
There is no exaggeration if we would say that educational institutions are facing more risks than what they were facing a few years before. It is true, keeping the safety of students while offering a conducive learning atmosphere and managing your institution’s reputation is imperative for the success of your school. Therefore, it is essential […]
What are the various kinds of Marine Losses?
It is possible to divide marine losses under the following head- Total Loss= It can be further segmented into the below categories: Actual Total Loss- It happens when- Goods damages completely Goods damaged beyond repairing The policyholder is deprived of the insured subject The ship is missing, and there is no trace of it In […]
Do Past Claims Cause Higher Premium in Marine Policy?
Yes, your past claims impact the premium of your present marine insurance policy. In a situation where your claims have been high, the existing marine insurance company may increase your premium at the time of policy renewal. However, in case you are approaching a new insurer, your insurance premium might be somewhat lower, but it […]
How to calculate the premium in construction all risk policy?
In any insurance, the insured transfers the risk to the insurer. However, in undertaking this risk, the insurer charges an amount known as the premium. The insured pays this amount consistently to their insurer. Buyer must know premium calculation in construction all risk policy. Factors deciding the premium rates of construction all risk policy: In […]
Which Additional Benefits Can be Covered Under Contractor’s All Risk Policy?
A contractor’s all-risk insurance policy plays an important role by shielding you against losses or damages which may arise at the construction site. Here are some of the additional benefits which you can get added to your contractor’s all-risk insurance policy= Cover for air freight= A policyholder can get the expenses incurred on air freight. […]
How should insured file a claim under construction all risk policy?
Construction all risk insurance policy provides coverage for engineering works such as the construction of residential buildings, commercial buildings, factories, roads, waterways, drainage schemes, sewage works, bridges, etc. The policy document of this insurance states the steps that the insured needs to follow in the event of any loss or damage. Following are the steps […]