What is Franchise Clause in Insurance and How Does It Work?

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 […]

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A Quick Guide for Getting the Right Marine Insurance Policy

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 […]

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Emerging risks in transporting goods via water

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 […]

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Buy health insurance and critical illness cover separately

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 […]

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Buy insurance that requires proper medical check-up

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 […]

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