A contractor’s all-risk insurance policy plays an important role by shielding you against losses or damages which may arise at the construction site. Here are some of the additional benefits which you can get added to your contractor’s all-risk insurance policy- Cover for air freight= A policyholder can get the expenses incurred on air freight. […]
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Car dealers may offer more, cheaper covers
Published in Mint on 19th September, 2017. Some months back, Mint Money published a story on why one shouldn’t settle for a car insurance policy that the car dealer packages with a car purchase. We advised shopping around for a cheaper policy instead of settling for this convenience. You can read it here. The good […]
Risks That Construction Companies Should Consider While Employing Blue Collared Workers
The construction industry is the key driving force of our economy. It provides employment to a large number of the people of our country. Construction workers form an important component of our dynamic workforce. We depend on construction workers to build our homes, construct office buildings, and pave and repair our roads. However, construction workers […]
What does Pregnancy Exclusion Clause in a Group Personal Accident Policy?
A group personal accident policy covers the employees of the organization against disability or death while in the service period. Most organizations secure their employees with this policy as employees form a vital part of any business. What does Pregnancy Exclusion Clause in a Group Personal Accident Policy? A group personal accident policy can be […]
What to do when a vehicle is covered under more than one motor policy?
In case two motor fleet insurance policies are in existence for the same vehicles with the same covers. Cancel one of the motor fleet insurance policy. Key Takeaways The Anti-Profit Insurance Mandate: Having two motor fleet insurance policies does not allow for double recovery; the policyholder won’t get more than what the actual loss is […]
Liability risks: know them to manage them
Published in Mint on 24th August, 2017. Written by Kapil Mehta In 2012, when we had just about set-up our insurance broking business, I received an email from a Chandigarh-based exporter. “Do you know what comprehensive general liability insurance is?” he asked. His American client was insisting on this as a precondition to doing business. […]
How does Reinstatement of Indemnity Limit Work in Construction All Risk Policy?
As a building developer or contractor, you are required to take steps to safeguard your capital investments against various losses or damages along with the work in progress or the materials that were bought for use in the project. Key Takeaways The Mid Term Exhaustion Risk: High-severity site accidents can consume your entire protection layout […]
What is the basis of Loss Settlement in Construction all-risk policy?
Construction is vulnerable to various losses or damages. As a contractor, it is necessary for you to meet the client’s deadline. Here, a construction all-risk insurance policy can help you by covering various risks during construction. Mainly, it offers coverage for physical loss or damage to the property, tools, plant & machinery, along with third-party […]
What Is Repatriation and Family Transportation Allowance in Group Personal Accident Policy?
Repatriation allowance and family transportation allowance are additional benefits available in a group personal accident policy (GPA). Key Takeaways Global Peril Protection: Group personal accident insurance policies are generally designed with worldwide geographic applicability, ensuring continuous protective coverage for overseas project deployments. The Legal Definition of Family: Family transportation allowances are strictly bound by underwriting […]
When does a group travel policy not bear the compassionate visit expense?
The purpose of group travel insurance is to offer you a secure and comfortable journey without worrying about unforeseen events like loss of passport, loss of baggage, personal accident, etc.; which can arise to disrupt your otherwise quiet holiday. In addition to various benefits, group travel insurance also covers compassionate visits. While travel is often […]