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Life – Corporate Keyman Insurance

• Keyman insurance is defined as an insurance policy where the proposer as well as the premium payer is the employer, the life to be insured is that of the employee and the benefit, in case of a claim, goes to the employer.
• The `keyman’ or ‘key person’ would be any person employed by a company having a special skill set or substantial responsibilities and who contributes significantly to the profits of that organization.
• Keyman Insurance is important for the organization incase the key employees in whose absence can cause a pause in smooth going of the organization.

Gratuity

• As per the law laid by the Government of India, both private and government sectors employees are entitled to receive social security benefits on their retirement or when they leave the job.
• Gratuity is a monetary benefit given by the employer to his employee at the time of retirement.
• It is a defined benefit plan where no contributions are made by the employee.

Superannuation

Superannuation refers to the retirement benefit offered to the working class. In India, there are two types of superannuation benefits:

Leave Encashment

• This compels the employer to compensate the unutilized paid leave of the employees.

Group Term Insurance

• Group term life insurance is a type of term insurance whereby the insurer issues the employer a master contract with coverage extended to employees.
• Group term life insurance is relatively inexpensive compared to individual life insurance.
• As a result, participation is high. It is commonly a component of a comprehensive benefits package.

Non- Life Individual Health Insurance

“He who has health has hope; and he who has hope has everything”

• Health Insurance (popularly known as Medi-claim Policy) provides risk coverage against expenditure which is caused by unforeseen medical emergencies, providing a financial Back Bone.
• Health insurance therefore, can be a source of support & back up, as it takes care of the financial burden your family may have to go through.

Home Insurance

“There is nothing more important than a good, safe, secure home.”

• Home Insurance helps to secure your home from unfortunate events like burglary, fire, earthquake or destruction of house due to riots etc.

Motor Insurance

Car insurance is not just the law, it’s your liability.

• Motor or vehicle insurance is an insurance policy that protects the owner of the vehicle against any financial loss arising out of damage or theft of vehicle.
• Motor vehicle coverage also includes damage caused to third party or property.
• Motor Insurance is mandatory in India.
• Motor Insurance is available for both cars and two wheelers.

Third Party Insurance

• As per the Motor Vehicles Act, it is mandatory for every car owner to have a 3rd party insurance. This coverage pays for any damage to 3rd party property, vehicle, or person.

Comprehensive Insurance

• Apart from a road accident, there are many other ways in which a vehicle can be damaged.
• A comprehensive cover would protect your vehicle from damages such as fire & explosion, personal accident, theft, calamities etc.

Package Policy

• Package Policy = Liability Only Policy + Damage to owner’s Vehicle usually called O.D Cover + Add On Covers.
• Add on covers such as zero depreciation, road side assistance, consumables, return to invoice etc.

Travel Insurance

“We travel not to escape life, but for life not to escape us”

• Travel insurance / Overseas Medi-claim policy is a basic requirement when one travels abroad, either its business sight-seeing shopping or pleasure or holidays.
• Travel Insurance is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or domestically.

Non – Life Corporate Corporate Health Insurance Group Medical Insurance

• A group health insurance plan is a health insurance plan that provides coverage to members of a group that tends to be employees of a company or members of an organization.
• Members of the group usually receive insurance at a reduced cost because the insurer's risk is spread across a group of policyholders.
• Group Health Insurance also called as Group Mediclaim in India is primarily cashless hospitalization coverage for your employees and their families.
• Main benefit are
  • Pre-Existing Illness Coverage from Day 1
  • Maternity Coverage from Day 1
  • Day 1 Baby Coverage, etc.
• Periodic Addition/Deletion is possible on pro-rata basis. Groups of minimum 10 employess and minimum 25 members can be covered.

Group Personal Accident

• Considering the lifestyle today, every employee in your organization is exposed to various risks of accidental death and disability, specifically at work and while traveling to and fro the work place.
• In case of any such event actually happening, the Employer has a moral duty to provide compensation, hence in our opinion; this cover becomes one of the most critical covers for employees.
• A Group Personal Accident Policy provides worldwide comprehensive lump sum coverage to your staff from risks of accidental death and disability.

Commercial Vehicles

• A commercial vehicle is any type of motor vehicle used for transporting goods or paying passengers.
• They are classified as Goods Carrying vehicle or Passenger Carrying vehicle.
• As per IRDA, Third Party Insurance is mandatory & also Permit is mandatory.
• Eg.Trucks, Passenger Carrying Bus, School Buses.

Liability Insurance Professional Indemnity or Error & Omission

• Professionals need to protect their business interests against legal claims for error, omissions, professional neglect for both the principles and their employees.
• Policy is meant for-
  • Doctors and medical practitioners
  • Medical establishments
  • Engineers, architects and interior decorators.
  • Lawyers, advocates, solicitors and counsels.
  • Chartered accountants, financial accountants, management consultants.

D & O for Corporates

• The D&O policy provides cover for the personal liability of Directors and Officers arising due to wrongful acts in their managerial capacity.
• Defence costs are also covered and are payable in advance of final judgment.
• This policy provides protection for claims brought against directors, officers and employees for actual or alleged breach of duty, neglect, misstatements or errors in their managerial capacity.

Commercial General Liability

• Commercial general liability (CGL) is a type of insurance policy that provides coverage to a business for bodily injury, personal injury and property damage caused by the business’ operations, products, or injury that occurs on the business’ premises.
• Commercial general liability is considered comprehensive business insurance, though it does not cover all risks a business may face.

Commercial Insurance Products Marine Cargo Policy

• Marine cargo insurance is a class of property insurance that insures property while in transit against loss or damage arising from perils associated with the navigation of the sea or air and subsequent land and inland waterways.

Bankers Indemnity

• Bankers indemnity policy is available to protect bankers against loss.
• Financial institutes and other organizations may opt for bankers indemnity insurance to safeguard in the following instances:
  • Of Money or securities belonging or held in trust
  • In transit
  • By forging or alteration
  • By dishonesty, etc.

Marine Cargo Hull

• Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.

Neon Sign Insurance

• The main way for promoting business & trading is through advertisements & publicity.
• Advertisement through Neon Sign Boards helps to grab passerby’s attention.
• However, they are at a great risk as they are exposed in public properties where they can be damaged due to fire, natural perils, riot or strike, arson and the like due to their location and prominence.
• This policy covers Neon Sign against loss or damage due to fire, theft or fortuitous events.

Fidelity Guaranteed Policy

• In business world, Frauds & dishonesty are the contractual obligations which may affect the image of the business/ organization.
• To safe guard against the risk of frauds & dishonesty of few people, Fidelity Guaranteed insurance ensures that organization do not suffer due to it.
• Fidelityguaranteed insurance policy covers monetary loss sustained as a result of any act of fraud or dishonesty committed by the employees in the course of performance of their duties.

Shopkeepers Policy

• Business continuation is the base for the survival of business & providing financial stability for its owner to secure its livelihood.
• Shopkeepers Policy is used to safe guard the small & medium sized shop owners from various risks related to its shop & contents for for e.g. fire, burglary, money, machinery & equipment breakdown

Jewelers Block Policy

• Covers loss or damage to jewelry, gold and silver ornaments or plates , pearls, precious stones, cash and currency notes whilst contained in the premises insured, by fire, explosion, lightning, burglary, house breaking, theft, hold up, robbery, riot, strike and malicious damage and terrorism.

Contractors All Risk Policy

• Construction is the most risk prone industry, where accidents including personal injuries & property damages are very frequent and may cost huge and can lead to disturbance in the plans and schedules.
• A CAR policy covers the physical damage to materials to be used for the project - whether in transit, in storage or forming part of the contract works.
• There is also an ancillary cover up to moderate limits for third party liabilities.
• It is a main feature of the CAR policy to cover those who have an immediate material interest in the project. That includes the owner, the contractor and usually all sub-contractors.