The construction industry is the key driving force of our economy. It provides employment to a large number of the people of our country. Construction workers form an important component of our dynamic workforce. We depend on construction workers to build our homes, construct office buildings, and pave and repair our roads. However, construction workers […]
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What does Pregnancy Exclusion Clause in a Group Personal Accident Policy?
A group personal accident policy covers the employees of the organization against disability or death while in the service period. Most organizations secure their employees with this policy as employees form a vital part of any business. What does Pregnancy Exclusion Clause in a Group Personal Accident Policy? A group personal accident policy can be […]
What to do when a vehicle is covered under more than one motor policy?
In case two motor fleet insurance policies are in existence for the same vehicles with the same covers. Cancel one of the motor fleet insurance policy. Read More: How to file a claim under Motor Fleet Insurance Policy? In situations where one of the motor fleet insurance policies starts at a date later than the […]
Liability risks: know them to manage them
Published in Mint on 24th August, 2017. Written by Kapil Mehta In 2012, when we had just about set-up our insurance broking business, I received an email from a Chandigarh-based exporter. “Do you know what comprehensive general liability insurance is?” he asked. His American client was insisting on this as a precondition to doing business. […]
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 Repatriation and Family Transportation Allowance in Group Personal Accident Policy?
Repatriation allowance and family transportation allowance are additional benefits available in a group personal accident policy (GPA). They refer to the benefits as given below: Repatriation Allowance GPA policies are generally applicable throughout the world, and as such in the case of death in any foreign location repatriation will be required. GPA policy may cover […]
When does a group travel policy not bear the compassionate visit expense?
The purpose of group travel insurance is to offer you a secure and comfortable journey without worrying about unforeseen events like loss of passport, loss of baggage, personal accident, etc.; which can arise to disrupt your otherwise quiet holiday. In addition to various benefits, group travel insurance also covers compassionate visits. While travel is often […]
D&O cover for estate and legal representatives
Directors and officers are often the face of a company and work for its growth and profitability. However, during the course of their work, they might have to make decisions that end up being wrong. Such errors and mistakes might attract lawsuits from employees, shareholders, customers, suppliers, stakeholders, or others. D&O liability insurance provides cover […]
What does 72-hour clause signify in construction all-risk policy?
72-hour Clause in Construction All-risk Policy: There is an immense significance of 72-hour clause in construction all-risk policy. 72-hour clause signifies any losses or damages which occur during any period of 72 consecutive hours and which arises due to= Earthquake, subterranean fire, volcanic eruption, Earth movement or collapse Bushfire Wind, storm, hurricane, cyclone, typhoon, hail, rainwater, […]
What Are the Different Type of Medical Expenses Covered Under A Workmen Compensation Policy?
Under a workmen compensation insurance policy, a buyer can purchase medical expenses cover as an add-on. Different insurers define the limit of medical benefits differently. Some of these options are: A fixed sum (per case) daily, for the duration of hospitalization. The actual amount spent up to the total sum insured as defined at the […]