The insurance sector plays an important role in the economy. It serves two main functions – ensuring adequate coverage of risks and the realization of assets and liabilities. It can enhance social movement by helping people and households to withstand shocks that might impair their assets and future earning capacities throughout their entire life course. […]
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How does the e-claim process work for group health insurance policy?
Insurers required policyholders to submit original claim documents for processing reimbursement claims. Policyholders used to courier claim documents to insurers/ TPAs for processing. However, this has changed since the Covid-19 pandemic hit the world. It has brought all transportation and logistics to a standstill due to government-imposed lockdown throughout the country. Courier services were not […]
Which add-on covers are recommended for property insurance?
We suggest policyholders consider subscribing to add-ons available under the property insurance cover. Below we cover an exhaustive list of add-ons for you to evaluate the relevant ones for your property insurance – 1. LONG-TERM AGREEMENT- Insurers offer premium discounts for longer coverage agreements i.e. for 3-5 year coverage terms. 2. TEMPORARY REPAIR COST- Cover […]
What is the importance of retroactive date in liability insurance policy?
The retroactive date in a liability insurance policy is either – Date from which you have held uninterrupted insurance cover (despite changing insurers on renewal) or Date from which your insurer has agreed to provide The retroactive date in liability insurance policy is important because it determines how far back in time an incident can occur […]
Are Directors & Officers personally liable For Company Debts?
Investors frequently require the Directors and Executive officers to be covered under protective insurance. This ensures that the company does not suffer any monetary losses arising out of an alleged act of the director. Investor directors are also concerned that they may face litigation because of their role on company boards. The awards by the […]
What are the criteria for selection of the best D&O insurance company?
A directors and officers (D&O) insurance policy company provides unmatched coverage to organizations and their key personnel against third-party liabilities. If the directors and officers of a company commit mistakes or neglect important details, they might suffer a liability claim from third parties. The third parties are likely to have suffered a financial loss due […]
How to customise D&O insurance policy?
A D&O insurance policy covers the board of directors as well as key managerial personnel i.e. the officers of a business organization. These key personnel take important executive and managerial decisions for the firm. If they make any wrong decision or overlook an important aspect of management, they might unknowingly cause a financial loss to […]
Renewal pricing in D&O insurance
A directors’ and officers’ (D&O) liability insurance policy provides financial protection to an organization’s key management personnel. This article focuses on the renewal pricing in D&O insurance. What is D&O insurance? A company’s managerial executives might make mistakes in discharging their duties. These mistakes, though not deliberate, might cause financial harm to a third party. […]
Can I include the add-on coverage after buying D&O insurance?
Organizations are at constant risk of lawsuits and third-party claims if their key personnel commit any mistakes that cause a financial loss to third parties. Though the D&O of the organization make decisions for the growth and development of the organization, they might make mistakes that might incur lawsuits and hefty settlements. The company suffers […]
How to select the insurance company for D&O Policy?
A director’s and officers’ liability insurance coverage is a must for organizations to protect themselves against financial liabilities brought on by third parties. The policy protects the directors and officers of the company against legal liability suffered due to errors and omissions. Such liabilities can be financially large, and by providing the necessary coverage, a […]