Workers’ compensation insurance is mandatory insurance that businesses in India must purchase to cover the legal and medical expenses for employee accidents, injuries, occupational ailments, and death. Key Takeaways The Power of One: In India, workers’ compensation insurance is mandatory regardless of company size. Even a startup with only one employee is legally required to […]
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Does worker’s compensation cover employee negligence?
Many people do not realize that industrial injuries and accidents are quite frequent. These accidents and injuries can be highly damaging, often leading to permanent total or partial disability, if not death. Workers deserve compensation as they contribute to the employer’s business success. Moreover, the labour of workers contributes to the comfort and consumption of […]
What parts of automotive liability are covered and not covered under CGL?
Overview A Commercial General Liability (CGL) policy does not typically cover automotive liability related to ownership, maintenance, or use of vehicles. Instead, such exposures are handled through a separate Commercial Auto Insurance or Business Auto Policy (BAP). ✅ What’s Covered: Premises liability from vehicle loading/unloading (in some cases) Vicarious liability when a contractor or third […]
How does the claim process work for Side A cover for D&O policy?
D&O insurance policies offer liability cover for company managers to protect them from claims that may arise from the decisions and actions taken within the scope of their regular duties. There is a wide variety of D&O insurance products and options available, but one of the most valued by individual directors and officers is the […]
Do Veterinarian doctors face litigation?
Legal cases against veterinarian doctors Like any other doctor, veterinarian doctors have a huge responsibility on them. Understanding the problem of and treating a species that cannot speak what it feels is considerably more difficult than treating humans. People who entrust these doctors with their pets create a fiduciary relationship with them, and thus also […]
How does stamp duty affect first-time purchase and renewal pricing for GTL?
As per government and regulatory norms, insurers are required to pay stamp duty for GTL policy. The calculation of the stamp duty amount is as defined under – 1. Stamp duty of INR 0.20 per INR 1000 of the sum insured. 2. Stamp duty is to be paid for every new GTL policy. 3. On […]
Which claims are settled by a D&O policy?
The directors and officers (D&O) insurance policy covers third-party liability claims against the directors and officers of an organization. The officers may face liability claims due to mistakes committed while performing duties. The claims settled by D&O Policy insurance provides a wide scope of coverage against third-party claims, including coverage for lawsuits. The policy is […]
Can directors buy D&O policy for themselves?
The role of directors The directors of an organization make efforts toward the growth and development of the company. They are liable to the stakeholders, business vendors, suppliers, creditors, government, and even to the business. Normally, directors and managerial officers have to make important decisions for the organization’s benefit. These decisions impact third parties too. […]
Should I select a D&O insurer offering lower premium?
A directors and officers liability policy prove to be a valuable addition to an organization as well as to its key managerial personnel. In case the company’s directors and officers commit an error or omission, third-party liabilities are likely to arise. These liabilities are covered by insurer of D&O insurance policy. Key Takeaways The Pitfall […]
To what extent can defence costs be claimed under a D&O policy?
Directors’ & Officers’ liability insurance policies cover the financial liabilities that directors face if they commit mistakes in discharging their duties. The third parties who suffer the financial consequences of such mistakes hold them responsible for the financial losses. Accordingly, the third parties might file a lawsuit against the directors and officers of an organization. […]