The Franchise Clause applies the minimum amount of claim acceptable by the insurer. Generally, insurers decide the franchise limit based on the type of insurance and feasibility of recovering the loss from the erring party. Following reasons justify the use of franchise clause: Insurer will try to recover/salvage the loss Cost of recovery/salvage should be […]
Choosing the right marine insurance policy for your export and import business in India requires marine insurance for all the right reasons. Get to know them here.
In the case of a marine transit insurance Contract, the terms of the sales contract are what will affect who will get compensated. The main parties to a sales contract are a seller and a buyer. Others associated with the sales contract are bankers, carriers and clearing agents among others. If a sales contract is […]
Published in Mint on Wednesday, July 31st, 2013, written by Kapil Mehta I work in India right now and have a medical policy provided by my employer which covers my family including my child, wife and myself. I will soon be going to the UK for a research internship along with my family. I am […]
Business dynamics always have to deal with uncertainties, and the expansion of trade and commerce give rise to various risks which are associated with the transportation of goods. Therefore, it is crucial to have a viable risk management practice in place if the company is eyeing for the business expansion. Designed to offer coverage against […]
Oceans connect continents in the world and thus, they give many opportunities for the transportation of goods as well. However, while sea transport entails many benefits, various hazards go with it as well. Let’s have a look at them and how to avoid them= Weather Hazards Some of the common weather hazards related to sea […]
How does commercial marine insurance respond to the increasing risks involved in goods transportation through water?
A commercial marine insurance plays an active role in safeguarding business from various risks which may arise during transportation of goods through the water. There are various benefits which one can enjoy after buying the policy, let’s have a look at them= It facilities international trade= As there has been an increase in the volume […]
Published in Mint on 29th April 2014, Written by Kapil Mehta I will be travelling by train from New Delhi to Kolkata to attend a cousin’s wedding. I will be carrying expensive jewellery. Can I insure it for the journey? —Karan Kapur The jewellery can be insured under marine or domestic travel insurance. However, there […]
The inland marine insurance offers coverage against loss or damage which may damage the insured goods, finished goods, raw materials during transportation under the contract of affreightment. If you are looking for the right inland marine insurance policy, here are some tips that you can follow – Evaluate your needs – When it comes to […]
Published in Mint on 10th June 2014, Written by Kapil Mehta I was told that online plans do not require a medical check-up. If I buy insurance without a check-up, will there be a problem at the time of claim? —Deepesh Rathi Online plans do require a medical check-up, especially if the sum assured is […]