Commercial General Liability protects the insured against bodily injury and property damage. But it is essential to understand who is insured under this Commercial General Liability policy. Persons or Organizations can qualify as insureds. Key Takeaways Form of Organization Matters: The scope of coverage and who qualifies as an insured depends directly on the legal […]
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How to claim the compassionate visit expense under a group travel insurance?
Compassionate visit expense is an important feature offered by group travel insurance. If while travelling, the insured gets hospitalized after an accident or illness, any of their family members can travel to stay with him/her at the hospital. The insurer will cover travelling expenses incurred by a family member. However, a group travel insurer will […]
D&O insurance and breach of confidentiality
A company invests in directors’ & officers’ liability insurance to protect itself or its senior management. Such protection is needed if anyone sues the company or its top officials for actual or alleged professional misconduct. A D&O insurance policy covers the defense costs and settlements that could result from such a lawsuit and also covers […]
Family cover in group health insurance
This post sets out to clarify the interpretation of family in group health insurance. It also examines the implications of extending medical insurance cover to the families of employees. Key Takeaways Legal vs. Emotional Ties: As shown in Jyoti’s case study, “living together” does not equate to “insurable interest.” Insurers follow strict legal definitions of […]
What are waiting periods in Individual and Group Health Insurance Policies?
In the context of health insurance, the waiting period refers to the time that must elapse before ailments listed in the policy can be covered. Here you will get to know about three types of waiting periods which are typically applicable to individual health insurance. Insurance companies often waive these off for group health insurance. […]
The best health insurance strategy
Published in Mint on 7th August 2017 When you invest for the long term, it is important to make sure that the returns your portfolio gets are ahead of inflation so that you get a real return. Buying health insurance is not much different in this regard—it is important to inflation-proof your health insurance strategy […]
Coverage is immediately applicable in term life insurance
Published in Mint on 7th August, 2017. Written by Abhishek Bondia My brother-in-law had bought a term plan insurance on the 1 July 2017. All formalities had been completed and the policy had been accepted by the insurer. However, the policy document had not reached us yet and sadly on 14 July 2017, he passed […]
What is Average Clause in Workers Compensation Insurance?
An average clause in workmen’s compensation insurance comes into play when the absolute number of employees changes during the term of the policy. The change in the number of employees can be due to the joining of new employees or the exit of old employees once the policy comes into force. Workman compensation is an […]
Some Important Terms Used in Group Insurance Contracts and Their Meanings
group insurance is an arrangement in which a large number of people are covered under a single master insurance policy. So what are the important terms used in Group Insurance contracts and their Meanings? Here are some of the Important terms used in Group Insurance contracts, along with their meanings, associated with group insurance – […]
Status quo: Sahara insurance gets one more week of life
Published in Mint on 1st August, 2017 The Insurance Regulatory and Development Authority of India (Irdai) had on 28 July ordered ICICI Prudential Life Insurance Co. Ltd to take over the life insurance business of Sahara India Life Insurance Co. Ltd, which was effectively wound up by the regulator in the past few months. The […]