You can buy a group insurance policy if there are members who gather together with a common purpose or engage in a common activity. Further, there are some other guidelines that should be considered to buy a group insurance policy, like: 1. Most of the group insurance policies are about the employer-employee. However, other groups […]
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How to file reimbursement claim under a Group Health Insurance Policy?
If you are covered by a group health insurance plan, you might have to claim reimbursement for medical expenses if you go to a hospital that is non-empanelled (or not a network hospital). You cannot avail of cashless hospitalisation at non-empanelled hospitals. Another reason for claiming reimbursement could be that the insurer takes time to […]
Four Things to Know Before Renting an Office Space
Renting office space seems to be a better option, especially when you are not able to buy it or when you don’t want to purchase it. But choosing just any office space would be a mistake. You need to ensure that your office is one that supports your team and also lets you grow and […]
Six Factors Deciding Property Insurance Premium Rates
If you are looking for commercial property insurance to ensure your business, the following are the factors that can be deployed to decide premium rates: Key Takeaways The Fallacy of Underinsurance: Skimping on policy limits to minimize fixed operational overhead creates critical risk, proving that under-insurance is equal to no insurance during a total catastrophe. […]
Myths Related to Workmen Compensation Insurance Policy
Workers’ Compensation Insurance offers legal liability coverage to employers. It helps them satisfy the obligations imposed on them under workers’ compensation statutes. The policy is beneficial for employers as it helps them pay the compensation in case of injury or death of an employee while on the job. Employees also stand to benefit from it […]
The simple insurance plan that is complex
Published in mint on 29th May, 2017. Insurance Regulatory and Development Authority of India (Irdai) has taken many steps to increase the distribution footprint of insurance products in India. And in order to get more feet on the street, the regulator has allowed the industry to make use of point of sales persons (PoSPs). PoSPs […]
New rules give insurance web aggregators a boost
Published in Mint, on 10th May 2017 Insurance Regulatory and Development Authority of India (Irdai), in a gazette notification dated 13 April, laid down the rules for insurance web aggregators: Irdai (Insurance Web Aggregators) Regulations, 2017. According to the aggregators we spoke to, these regulations do not cause any major disruption, as they mainly aim […]
What are characteristics of Group Accidental Insurance Policy?
A group accidental insurance policy has the following characteristics: Issued to a group of people with the similar risk profile Employers, organizations, travel companies, banks, and other service providers can create the groups The insurance covers the expenses and compensates the insured group members for any injury sustained in the course of their lives (except […]
Who Should Buy a Fire Insurance Policy?
Any individual, firm, organization, or institution can apply for a fire insurance policy. Given below is a list of people or entities who should buy a fire insurance policy: Owners of buildings and the owners of the content inside the building which includes artifacts, furniture, etc. Educational Institutions Shopkeepers Industrial or Manufacturing firms Godown keepers […]
Which Perils Are Not Covered By Fire Insurance Policies?
The Perils not covered by fire insurance policies are mentioned below: Spontaneous combustion Burning of property by order of any Public Authority Property undergoing any heating or drying process The explosion of boilers (other than domestic boilers) Total or partial cessation of work Permanent or temporary dispossession by order of the Government Normal cracking or […]