Often you take into account multiple factors while finalizing a health insurance procurement deal including pricing, service levels, insurer’s brand image, etc. Therefore, how can you assess if you are paying a fair price for group health insurance? On the pricing aspect, you can evaluate fairness based on the following factors – Key Takeaways The “Sweet Spot” […]
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How can employers design a voluntary top-up group health insurance? Suggest appropriate deducible amount
A top-up insurance plan within group health insurance covers hospitalization costs. But, only after a threshold limit is crossed. This threshold limit is known as deductible i.e, a portion of the claim amount that is not covered by the insurer and has to be paid by the policyholder. Once the claim amount crosses the deductible […]
About the relevance of the designation clause in fire insurance policy?
The Designation Clause in Fire Insurance—also known as the designation of property clause—ensures that the insurer accepts the way insured property is listed in the insured’s books for claim purposes. In other words, whatever property head (e.g. Building, Plant & Machinery, Electrical Installations, Wiring, Furniture) under which an asset is recorded in the insured’s accounts, […]
Which add-on covers are recommended for property insurance?
We suggest policyholders consider subscribing to add-ons available under the property insurance cover. Below we cover an exhaustive list of add-ons for you to evaluate the relevant ones for your property insurance – Key Takeaways The Obsolescence Solution: Involuntary Betterment is crucial for older plants. It ensures that if an exact replacement for old machinery […]
What is the importance of retroactive date in liability insurance policy?
The retroactive date in a liability insurance policy is either – Date from which you have held uninterrupted insurance cover (despite changing insurers on renewal) or Date from which your insurer has agreed to provide The retroactive date in liability insurance policy is important because it determines how far back in time an incident can occur for your […]
Are Directors & Officers personally liable For Company Debts?
Investors frequently require the Directors and Executive officers to be covered under protective insurance. This ensures that the company does not suffer any monetary losses arising out of an alleged act of the director. Investor directors are also concerned that they may face litigation because of their role on company boards. The awards by the […]
How does premium vary with different insurers for workmen compensation insurance?
Workplace injuries can be expensive. Accidents can happen, resulting in death or injury to employees at the workplace. Specifically, in businesses with the perilous nature of work, getting protection against workplace risks is extremely important. Workmen compensation insurance is effective as it secures you against lawsuits arising due to workplace accidents. Key Takeaways The Market […]
What are the criteria for selection of the best D&O insurance company?
A directors and officers (D&O) insurance policy provides unmatched coverage to organizations and their key personnel against third-party liabilities. If the directors and officers of a company commit mistakes or neglect important details, they might suffer a liability claim from third parties. The third parties are likely to have suffered a financial loss due to […]
How to customise D&O insurance policy?
A D&O insurance policy covers the board of directors as well as key managerial personnel, i.e., the officers of a business organization. These key personnel take important executive and managerial decisions for the firm. Key Takeaways Modular Policy Architecture: Standard D&O insurance provides core protections (Sides A, B, and C), but comprehensive protection relies on […]
Renewal pricing in D&O insurance
A directors’ and officers’ (D&O) liability insurance policy provides financial protection to an organization’s key management personnel. This article focuses on the renewal pricing in D&O insurance. Key Takeaways Dynamic Nature of Renewal Premiums: D&O insurance renewal pricing is not fixed; it is recalibrated annually based on corporate changes, claim histories, and external legal trends. […]