Renting office space seems to be a better option, especially when you are not able to buy it or when you don’t want to purchase it. But choosing just any office space would be a mistake. You need to ensure that your office is one that supports your team and also lets you grow and […]
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What is Insurable Interest in The Marine Policies?
The insurable interest in Marine policies means that policyholders must have a financial stake in the vessel, cargo, or other insured property. Insurable interest in marine insurance can arise in a number of ways. For example, the ship owner has insurable interest in its safe transportation and arrival. Cargo owner has insurable interest in safe […]
What Is Not Covered in Worker Compensation Policy?
A worker compensation policy cannot be purchased by an employer who is not recognized under the Workmen Compensation Act 1923. In other words, an employer or an employee who does not qualify under the official status of the Act is not under the insurance jurisdiction. In this article, we will find out what is not […]
Types of Risks & How to Manage Them?
There are many types of risks, depending on the context, and since we are covering insurance here, we’ll talk about the risk categories for insurance. In insurance risks are classified as follows: How to manage the risks? All risks can be managed in any or multiple of the following ways: Avoidance Retention Transfer Transfer & […]
What happens to the Claim if you buy two separate policies for the same property?
Property owners might be too afraid to lose their valued offices to the natural and man-made risks which have become quite common nowadays. Recent examples include the estimated financial losses ranging from $3 billion to $15 billion in Chennai during the floods in 2015. Building a property again can cost one a fortune, and this […]
Marine Hazards Every Exporter & Importer Should Worry About
The marine industry serves as an important connection bridge in international trade, and the cargo vessels are the most efficient, and probably the only means to transport large volumes of finished goods and commodities. In a global economy, bulk carriers are crucial, as they cover a huge range of products. For instance, Coal, Sulphur, Cement, […]
What to expect from your Commercial General Liability Policy?
One of the most important insurance covers that any responsible business organisation is expected to avail is the Commercial General Liability Policy (CGL Policy). It is a protection provided to business organisations for expenses incurred due to third-party (non-employee) liabilities. These include mainly the claims or medical expenses of third-party due to accidental damage or […]
Buy a separate mediclaim plan for senior citizen in the family
Published in Mint on Oct 20 2016, Written by Abhishek Bondia I wanted to buy a Rs10 lakh sum assured family health cover from a private insurer for myself, my wife and our 1-year-old son. But my father, who is about to retire next month, got to know that the Central Government Health Scheme (CGHS) […]
Do you have a ‘partner in tragedy’ for your home?
It is a blessing to have a partner with whom you can share your joys and sorrows. This is indeed significant when you have a home of your own. A house provides you with a sense of security. However, it comes with the responsibility to take care of the property’s maintenance and repairs. Most people […]
Insurers charge an extra premium equal to the out-patient department cover provided
Published in Mint on Oct 06, 2016, Written by Abhishek Bondia Is there any health coverage that covers medical tests as well, or is it only for hospitalization? I need to do medical tests on a regular basis due to diabetes. —Arjun Singh There are several health insurance plans that provide outpatient (OPD) coverage. Under […]