Published in Mint on 16th October, 2017. Written by Kapil Mehta Buying insurance requires considerable paperwork. Brochures and key-feature documents need to be read, illustrations and declarations signed, and financial and Know Your Customer information submitted. The most important document, however, is the humble proposal form. This proposal form comes in different shapes and sizes. […]
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How to minimize cost for employees group insurance policy
Nowadays most organizations offer employees Group Insurance Policy. Group insurance policies like group health insurance, group term insurance, etc.; are some of the policies which are offered to employees. Key Takeaways The Deductible Effect: When employees share a portion of the risk through a deductible, they tend to be more judicious about filing claims. This […]
How much coverage does construction all-risk insurance provides?
As a contractor, it’s your responsibility to ensure the financial protection of the civil engineering work, you are carrying out. Therefore, it is essential to get financial protection against various losses or damages. This you can do with the cover in construction all-risk insurance policy that can be helpful. Key Takeaways The Project Cost Valuation […]
How Much It Cost of Construction All Risk Insurance?
As the contractor, you are responsible for the safety of your construction site. However, even if you would take all the safety measures; accidents can arise at your construction site and disrupt your business. As a contractor, you would be held responsible for the loss or damage caused at the construction site and even to […]
What are the Utilities in Fire Insurance?
The purpose of a fire insurance policy is to shield you from various losses or damages which can arise after a fire accident. In this case, if you would have a fire insurance policy, you can approach the fire insurer who would settle your claim and thus, curtail your financial expenses to a great extent. […]
What are the Non-Manufacturing Risks Mentioned in Fire Insurance?
Fire insurance is an important policy that offers financial security in case of any loss or damage due to fire. Misfortunes can strike even when you have taken all the safety regulations. Therefore, it makes complete sense to go with fire insurance and secure your business from the losses or damages due to fire. Key […]
What is Escalation Clause in Fire Insurance?
Overview Escalation Clause in Fire Insurance is a policy provision designed to counteract inflation and rising reconstruction costs by automatically increasing the sum insured over time. Typically structured as a fixed percentage added annually (e.g. 5–10%), this clause ensures that policy coverage remains inflation‑aligned and prevents underinsurance at the time of claim.. Key Elements Definition […]
What is Excess Policy in Fire Insurance?
The purpose of a fire insurance policy is to offer you financial coverage in case of loss or damage due to fire and related perils. At the time of taking a fire insurance policy, you would have to compute the price of the items which you want to cover. However, the prices of these items […]
What are the Moral Hazards in Fire Insurance?
The purpose of fire insurance is to offer you financial coverage in case of loss or damage due to fire. Further, a fire insurance policy comprises hazard, which is a condition that increases the chances of risk in an insured peril. There is a physical hazard and moral hazard; here we are talking about moral […]
What is the importance of group personal accident insurance for employees?
Considering the rise in the number of accidents, many organizations offer group personal accident insurance to their employees. Companies either offer it free of cost or charge nominal premium rates. Key Takeaways The Solitary Earner Shield: For households relying completely on a single breadwinner, a group personal accident policy prevents absolute economic collapse following a […]