The leaders of a company make important rules and decisions to help the company grow. The company’s executive employees affect other employees, suppliers, creditors, investors, and the government with their policies, decisions, and actions. For instance, if because of an erroneous action, decision, or judgment, a concerned third party suffers a loss, the directors and […]
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Why do I need a D&O policy?
The directors and officers are key players in the management and administration of any organization. These persons are at the helm of the company. They make executive decisions that impact the growth and profitability of the company. Key Takeaways Decisive Decision-Making Protection: D&O insurance shields corporate leaders from personal financial exposure, allowing executives to make […]
Why do I need workmen compensation policy?
Workers and employees are always at risk of suffering employment-related hazards during their employment term. Often labourers have the highest probability of injuries or death on the work site. An organization becomes financially responsible to compensate workers/ or their family members for losses suffered due to: any physical injury disability or death due to their […]
Implication of Workmen’s compensation Act, 1923 and Factories Act, 1948,on a Business Owner.
Introduction to Workmen Compensation Act and Factories Act The Factories Act, of 1948, and the Workmen’s Compensation Act are based on the idea of improving working conditions. These Acts intend to regulate the health and safety of young persons, women, and children employed in the factories. They offer exhaustive coverage of situations where health and […]
10 Things business owners must do to comply with workmen’s compensation act, 1923 & factories act, 1948
The Workmen’s Compensation Act 1923 and Factories Act, 1948 protect the interest of the workers and also provides financial liability protection to employers. The Acts intends to improve working conditions and regulate the health and safety of young persons, women, and children employed in the factories. Workmen’s Compensation policy also pays for legal costs and […]
Monthly health plan premiums a positive, but there’s a flip side
Published in Livemint. More and more first-time buyers in the younger age brackets are opting for the monthly premium option when going for health insurance policies, the recent buying pattern on Policybazaar.com, an online marketplace for insurance, shows. The monthly premium option was introduced by the Insurance Regulatory and Development Authority of India (Irdai) in April to […]
The Most Significant Liabilities for a Company Director
Introduction– The Companies Act, 2013 (“The Act”) defines a director to mean a director appointed to the Board of a company. The Act consists of the concept of an ‘officer who is in default for the purposes of affixing liability. Liability applies on such person in respect of any contravention of the provisions of the […]
How to work with the Ombudsman to address your grievances across India?
Introduction- The Ombudsman is a person appointed by the insurance council. The serving term of the Insurance Ombudsman is three years and there are 17 Ombudsman across India. Who can approach an Insurance Ombudsman? Any person who has a grievance against an insurer, may himself or through his legal heirs, nominee or assignee, complain to […]
Standard health products for vector-borne diseases can work as a supplementary cover
Published in Livemint. The Insurance Regulatory and Development Authority of India (Irdai) last week launched draft guidelines on standard health insurance products for vector-borne diseases such as dengue, malaria, kala-azar, chikungunya, and zika virus. The general and health insurers can offer one or a combination of diseases and can price a policy for every disease […]
How the D&O policy has proven itself to be a modern safeguard key decision makers of IT companies in 2020
Directors and officers of any company hold responsible and powerful positions and the decisions of these key personnel can impact every aspect of their firm or business. These key decision-makers are often personally held liable for any alleged breach of duty or negligence. Over the last years, many IT companies have grown to achieve large […]