The Errors & Omissions Insurance (E&O) is the useful insurance policy that shields you and your employees in case one of your clients accuses you of making mistakes that cost them financial loss. Here the accusation can include claims that your work was inefficient or unprofessional. If a displeased customer blames you for the financial […]
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How Do the Insurance Principles Apply to Fire Insurance Contracts?
A fire insurance policy offers protection against losses or damages that may arise due to a fire accident. Like in the case of other insurance contracts, insurance principles are applicable to fire insurance contracts. Here are some ways through which insurance principles apply to fire insurance contracts – Key Takeaways The Triple Timeline Mandate: Fire […]
Different Principles Applicable to Different Types of Fire Insurance Policies
A fire insurance policy compensates the policyholder for the loss or damage that arises due to fire. It gives financial security to the insured by shielding him/her from losses or damages caused by fire. There are some principles or fundamental doctrines of Fire insurance guiding different types of fire policies under its purview. Key Takeaways […]
How are assets valued under a property insurance policy?
The purpose of a property insurance policy is to help a policyholder get a replacement for lost or damaged goods. However, to make extensive use of the policy, it is inevitable to know how assets are valued under a property insurance policy. Key Takeaways The Fixed Asset RCV Constraint: Replacement cost value calculation models are […]
What are the different Types of Property Insurance Policies Available in India?
As an umbrella policy, property insurance comprises various insurance policies, which you can buy as per your requirements. Here are some of the different types of property insurance policies available in India- Key Takeaways The Property Insurance Umbrella: Property insurance is not a single restrictive policy; it acts as a wide commercial umbrella containing highly […]
What is not covered under Burglary Insurance bought as a Property Insurance?
It takes years of effort for creating assets, however, one theft or any other loss/damage can cripple you financially. Burglary insurance is the right policy to keep your property safe and gets peace of mind. It covers losses or damages to property due to burglary and housebreaking. Though burglary insurance is meant to offer comprehensive […]
What are the Duties of the Employer Under Worker Compensation Insurance at the time of loss?
Duties of employers in contingencies under Worker Compensation requires them fulfil the below obligations: Provide first aid and medical care – It is the prime responsibility of an employer to provide immediate first aid and medical treatment, wherever required. Report the injury- After the injury, an employer should enter a description of the injuries in […]
Universal Insurance Principles can be applied to Group Insurance Policies
The universal principles of group health insurance include risk pooling, where the costs of healthcare are spread across a group of people, and community rating, where premiums are set based on the average cost of healthcare for the group rather than the individual’s health status. The aim is to ensure that big, medium, and smaller […]
Things Small Businesses Should Know About Workmen Compensation Insurance Policy
There’s a lot to know about a workmen’s compensation policy. This type of insurance policy offers legal liability coverage to employers. It also protects employees from incurring financial burdens by providing them compensation in case of any injury or accident at the workplace. However, several small business owners consider it like any other extra and […]
Life insurance bought in India covers death caused due to war
Published in Mint on 18th June, 2017. Written by Abhishek Bondia My husband works in Qatar as a doctor and has an insurance policy bought in India. Will the company honour the claim if he happens to die in a war zone? —Adilah Kazmi A life insurance policy issued in India covers death anywhere. Suicide […]