PRODUCTS

PROPERTY RELATED INSURANCE COVERS

  • Standard Fire & Special Perils Policy (SFSP)

    A basic Fire policy insures damage to tangible property due to fire, lightning, explosion and aircraft impact, but is normally extended to include storm (e.g. hurricane, typhoon, cyclone), water damage (including flood), earthquake (and where relevant tsunami or volcanic eruption), strike riot and civil commotion and vehicle impact as causes of loss. It should be noted that a Fire policy only insures those perils specified in the policy.

  • Burglary Insurance

    Burglary Insurance policy covers property contained in business premises like furniture, fixtures, fittings, office equipment, electronic equipment, stocks owned, or for which insured is responsible or held in trust.

  • Electronic Equipment Policy

    The policy covers losses resulting from sudden and unexpected physical loss or damage to electronic equipment (e.g. computers) by any cause (other than the exclusions specified in the policy), in a manner necessitating repair or replacement.

  • All Risk Policy :

    All Risk Insurance cover a wide range of risks. It covers damage to or loss of property due to any reason whatsoever except for those specifically excluded in the policy. This cover is especially suitable for all kinds of portable devices are equipment. Since fire insurance is location specific and portable equipment can move anywhere within certain geographical limits, they cannot be covered under a Fire Insurance policy. An All Risk Insurance policy provides them a comprehensive cover.

  • Machinery Breakdown Policy (MBD)

    This policy covers mechanical and electrical breakdown of plant and machinery, and the ensuing loss of production (cover which is often excluded from Fire and Property All Risks policies). Policies can also cover loss to surrounding property damaged by breakdown, such as in the case of explosion of boiler machinery. The cover is important for critical items of plant where limited back-up or standby facilities exist or where sophisticated and expensive equipment is in place. Monetary costs involved for restoration of machine to its original state are covered by the machinery (breakdown) insurance policy.

  • Office Package Policy

    Covers assets of an office under various inbuilt insurance sections.

  • Industrial All-Risk Policy (IAR) Policy

    IAR is a package policy having two sections. The first section is called the material damage section and provides cover for everything which is covered under the fire policy plus accidental damage and machinery breakdown. The second section provides cover for business interruption following fire and allied perils (compulsory) and machinery breakdown (optional).

  • Boiler Explosion Policy

    This policy covers losses due to explosion in boilers.

  • Deterioration of Stocks (DOS)

    Stocks kept in cold storages can suffer deterioration following breakdown of the refrigerated machinery. A separate policy called deterioration of stocks (DOS) can be issued to cover damage to the stocks.

  • Marine Import & Inland (ICC-A; ITC-A)

    This policy insures items such as plant and equipment, finished goods, and raw materials – among other things, during transportation. Despite its name, the policy is not restricted to marine (ocean transit) risks, but also covers transportation by air, road and rail. In addition to “transportation”, this policy is generally extended to cover temporary storage.

  • Sales Turnover Policy

    Sales Turnover Policy is a highly flexible and customizible marine insurance cover. Instead of covering a particular type of transit, this policy can cover all the transits that are requried to achieve sales.

    It covers:
    Domestic Purchase of raw material, consumable & stores
    Imports
    Inter-Factory, Inter-Warehouse or Inter-Depot transfer
    To & Fro job work movements
    Domestic sales
    Export Sales

  • Business Interruption (also known as Fire Loss of Profits)

    The Business Interruption (BI) policy can insure the project company for loss of Net Profit and Standing Charges until such time as normal production or commercial operation is resumed. The Indemnity Period typically ranges from 3 to 36 months depending on the nature of the operations. Insured perils follow the Fire or Property All Risks policy, and there has to have been an accepted property damage claim for the associated business interruption claim to be valid.

  • Standard Film Insurance

    Comprehensive policy covering -Film property, film crew, third party legal liability, shoot cancellation, AOG perils & other misc. expenses

  • Money Insurance

    Money Insurance policy provides cover for loss of money in transit between the insured's premises, bank, vendors, customers, post office or other specified places due by robbery, theft or any other fortuitous cause.

    The policy also covers loss by burglary or housebreaking whilst money is retained at Insured's premises in safe(s) or strong room.

  • Sabotage & Terrorism

    This policy responds to physical damage (and, if elected, Business Interruption) caused by acts of Sabotage or Terrorism. A standalone Sabotage & Terrorism policy is usually sought if insurers exclude or limit coverage via standard Fire or Property All Risks policies.

  • Hotel Package Policy

    Hotelier’s Package Insurance is a comprehensive insurance policy for hotels or restaurants. The policy broadly covers loss or damage due to fire, earthquake, flood, riot etc. It also covers damage by Burglary, Housebreaking (Theft following upon actual, forcible and violent entry of and/or exit from the premises) covers loss of money in transit or in safe, loss of guest property and breakage of plate glass. It also provides cover for legal liability towards employees in respect of accidental death or bodily injury while working. In addition, it covers you for any liability towards third party in respect of accidental death or bodily injury including liability arising out of food & beverages supplied by hotel / restaurant.

  • Contractors All Risk Policy (CAR)

    This type of policy covers the civil works from commencement of construction to final handover (including testing/commissioning and extended maintenance – normally 12 months). The policy also normally includes a section covering claims arising from third parties (Third Party Liability) who are injured, or whose property is damaged, during the construction period.

  • Erection All Risks (EAR)

    This type of policy insures equipment during installation and testing/commissioning, up to the point where the equipment is operational (when it then is transferred to the Fire, Property All Risks, and/or Machinery Breakdown insurance policy). This policy also contains coverage for an extended maintenance period (typically 12 months) and includes a section for Third Party Liability.

  • Marine Cum Storage Cum Erection (MCE)

    This is a comprehensive policy covering all physical risks which a project is exposed to right from the warehouse of the supplier of equipments - whether imported or indigenous - to its erection, testing and commissioning at the site.

  • Contractors Plant and Machinery (CPM)

    This policy covers all different types of machinery used for handing material or construction. It covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy.
    The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

  • Advanced Loss of Profit (ALOP)

    This policy is particularly important for large greenfield projects where delay in project completion could have a substantial impact on the expected revenue of the Company, potentially impacting the sponsors’ ability to service debt and other fixed expenses. The policy pays for Anticipated Net Profit plus Standing Charges (Fixed Expenses) during the period of delay, from the scheduled date of commencement of commercial operation up to the actual date of commencement of commercial operation, subject to a time excess and the Indemnity Period.

  • Marine Delay in Start Up (MDSU)

    This policy is particularly important for large greenfield projects where delay in project completion due to an event insured under the Marine All Risks policy could have a substantial impact on the expected revenue of the Company, potentially impacting the sponsors’ ability to service debt.

    The policy covers loss of Anticipated Net Profit and Standing Charges (including debt service) incurred as a result of delay in project completion because of loss during marine transit. Most sponsors choose to insure Standing Charges only, as this keeps the costs down. Particular attention needs to be paid to the Indemnity Period selected, which should anticipate time to reorder, deliver and install materials enabling completion of the project to its original specifications.

  • Marine Hull and Machinery (H&M)

    This policy provides coverage following damage to the hull, machinery, and equipment of a watercraft or ship/vessel. The sum insured is typically based on Agreed Value

  • Mortgagees Interest Insurance (MII)

    This policy covers the lenders interest in the mortgaged vessel. This insurance cover is secondary to the primary insurance on the vessel, such as Hull & Machinery, P&I insurance, etc., and a claim is valid only when the primary insurance cover does not respond.

  • Aviation Hull

    This coverage provides payment to the owner of the aircraft for physical loss of or damage to the aircraft. Coverage excludes losses arising from war, hijacking, terrorism, riot, strike, sabotage, etc. but these risks can be insured separately under a Hull War Risks policy. The sum insured is based on Agreed Value.

  • Hull War Risks

    This insures aircraft hull damage losses excluded under the Hull All Risks policy by virtue of the war exclusion.

  • Protection and Indemnity (P&I)

    This policy provides liability protection if a ship owner or operator is sued for claims from third parties for bodily injury or damage to their property arising out of the negligent operation of a vessel. Claims can arise, for example, from damage to bridges, piers, wharfs or like structures along waterways, injury to passengers, crew on board the vessel itself, or on other vessels if collision liability is covered.

  • Special Contingency Policy (SCP)

    Customized insurance policy covering Material Damage, Burglary, liability, AOG perils. Given for specialized requirements only (Agreed value policy).

  • Aviation Liability

    This type of policy is designed to cover the insured’s legal liability to third parties (including passengers) for bodily injury and property damage resulting from the ownership, maintenance or use of an aircraft while on the ground or in flight. These policies include coverage for the defense of any suit brought against the insured.

  • Aviation Liability – War Risks

    This policy covers the insured’s legal liability to others for bodily injury and property damage resulting from war and terrorism acts, such as aircraft confiscation, sabotage, hijacking, unlawful seizure and civil commotion.

  • Oil & Gas – Energy Package

    This policy is specifically designed for the risks associated with the oil and gas sectors, and can cover on- and off-shore risks. Coverage typically includes property damage, control of well/operator’s extra expenses, and liability risks (including sudden and accidental pollution).

  • Port Package Policy

    Covers properties and assets inside the port premises with coverage for Material damage, Business interruption(including due to port/channel blockage), Wreck removal, Liability segment with various add on covers.

  • Mega Package Policies (Large Risk Policies)

    The risks where the Sum Insured is more than Rs.2,500 crores at any one location (PD,BI combined) come out of purview of Tariff regulations and hence for such risks Package Policies are devised to suit the specific requirements of the client.

  • Tour Operator's Liability Policy

    For tourists handled by insured against Legal Liability to pay compensation including claimant’s cost, fees and expenses incurred for any reason whatsoever anywhere in the world including USA & Canada.

    Inlcudes:
        i. Injury to any person
        ii. Damage to Property
        iii. Deficiency in Services, facilities provided
        iv. Food contamination
        v. Cost and Expenses incurred for emergency assistance to any tourist
        vi. During the period the tourist is under insured care/hospitality of the Insured and/or whilst in journey by Air/ Railways/ Ship/Waterways through various mode of conveyance including but not limited to owned, non-owned or hired conveyance/transport etc.
  • Liability Insurance Act (1991) Policy

    The policy covers the statutory liability of insured arising out of accidents occurring during the currency of the policy due to handling hazardous substances as provided in the PUBLIC LIABILITY INSURANCE ACT 1991 and the Rules framed thereunder.

  • Commercial General Liability (CGL)

    CGL covers Third party Liabilities arising from various business exposures such as those arising from Premises, Products, Advertising and Personal injury. E.g. injury sustained by a potential customer whilst at the premises of the insured. The injury would be due to a fall on a freshly mopped floor, slipping down the stairs or due to a fire incident in the premises.

  • Workmen’s Compensation/Employers’ Liability

    The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by the workmen arising out of and in course of employment. Extension to be taken for covering occupational diseases.

  • Cyber Crime Insurance

    Will Cover -

      a) Security & Privacy Liability
          The Insurer will pay the Loss arising out of a Security Breach and/or Privacy Breach by the Insured that results in:
          i) theft, loss, or Unauthorized Disclosure of Personal Information;
          ii) alteration, corruption, destruction, deletion, or damage to Data stored in Computer System
          iii) denial of access to the authorised Third Party to the Data stored in Computer System.
      b) Multimedia Liability
          The Insurer will pay the Loss arising out of Multimedia Activities of the Insured that results in:
          i) defamation including but not limited to libel, slander, trade libel, infliction of emotional distress, outrage, outrageous conduct or other tort related to disparagement or harm to the reputation or character of any person or organization;
          ii) violation of the rights of privacy or publicity of an individual, including false light and public disclosure of private facts , commercial mis-appropriation of name persona, voice or likeness;
          iii) infringement of copyright, domain name, title, or slogan, trademark, service mark, service name, or trade name
          iv) plagiarism, misappropriation or theft of ideas or information under implied contract;
          v) domain name infringement or improper deep linking or framing

  • Valet Parking Insurance

    Valet parking insurance covers liability related to

    • General liability: This covers any injury to a person or their property that is caused by a valet attendant. This includes direct injuries caused by the driver striking a pedestrian.
    • Garage keepers liability: This covers any damage to any vehicle in the parking lot that is under the care of the valet company. It includes collisions or vehicle theft for any vehicle that is in their "care, custody, and control."

  • Directors’ and Officers’ (D&O’) Liability

    This policy provides protection in respect of claims from shareholders, creditors, customers, employees and others, who can sue directors as individuals, for their negligence in the running of, and behavior of, the Company

  • Professional Indemnity/ Errors and Omissions

    Professional Indemnity/ Errors & Onissions insurance is designed to cover businesses in the event that they are pursued by third parties who claim that they have suffered a loss as a result of the company’s professional negligence. Cover is normally taken by professionals such as accountants, fund managers, lawyers, architects or any professional services providers.

  • Product Liability with or without Product Recall

    This policy covers the company’s legal liabilities to third parties for bodily injury or loss of or damage to property caused by the company’s products or goods.

    Product Liability insurance indemnifies the insured for compensation awarded in court or compensation agreed with insurer’s consent out-of-court, as well as costs associated with defending claims, both of which may be substantial.

  • Public Offering Of Securities Insurance (POSI)

    Initial Public Offering (IPO) Insurance also known as Prospectus Liability Insurance allows cover for companies and their directors from the risks involved with capital raising. Initial Public Offering (IPO) Insurance should be considered by any company involved in a public offering of securities or private placements by corporate organizations.

  • Credit Insurance

    The Credit Insurance Policy is designed for companies that are selling their goods and/or services on credit to domestic and/or overseas buyers. Credit Insurance provides companies with coverage for outstanding receivables that are within approved credit terms, protecting the Insured against risk of non-payment by its buyers. Allows for Political Risk cover.

  • Transaction Liability

    The insurance provides cover for breach of express warranties and representation made in the SPA. The insurer steps into the shoes of

  • Media Liability Insurance

    Media Liability Insurance protects you against claims arising out of the gathering and communication of information. Media Liability Insurance provides very valuable coverage against defamation and invasion of privacy claims as well as copyright and/or Trademark infringement.

    Media Liability Insurance can be categorized as Errors and Omissions in the written or spoken word resulting in claims alleging financial loss as a consequence. Media Liability Insurance can also be called Communications Liability Insurance and can be synonymous with Multi Media Liability insurance.

  • Carrier's Legal Liability

    Pay all sums for which the insured shall become legally liable as compensation for physical loss or destruction of or damage to goods or merchandise ... while in transit ... including during loading or unloading and while temporarily housed on or off vehicles in the ordinary course of transit.

  • Kidnap & Ransom Insurance

    Provides financial relief in case of a kidnapping for ransom.
    Covers @Kidnap: An actual or alleged kidnapping of an insured person for ransom
    @Extortion: threat to assured and/or insured person(s) for demand of ransom, including threats against the insured person, property, trade secrets, and computer data
    @Products Extortion: Threat to assured's products for demand of ransom
    @Detention: Holding under duress of an insured
    @Hijack: Any aircraft, motor vehicle, railroad train, or waterborne vessel on which the insured person is traveling

  • Fidelity Guarantee

    coverage in respect of losses sustained due to the dishonest or fraudulent acts of the Insured's employees, which are committed with the intention of a) causing the assured to sustain such loss and/or; b) to obtain, and which result in, improper personal financial gain for said employee

  • Invesment Management Policy/Mutual Fund Insurance

    Covers- Errors, omissions, misstatements, misleading statements, neglect, breach of duty or breach of trust while performing or failing to perform professional services by a Asset Management Co.

  • Group Personal accident policy for employees - On Named Basis

    This policy offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means. 1. Death 2. Permanent Total Disablement 3. Permanent Partial Disablement (PPD) 4. Temporary Total Disablement (TTD).

  • Group Personal accident policy On UN-NAMED BASIS for patrons

    This policy offers compensation in case of death or bodily injury to the insured person, ON UN-NAMED BASIS, directly and solely as a result of an accident, by external, visible and violent means. 1. Death 2. Permanent Total Disablement 3. Permanent Partial Disablement (PPD).

  • Group Mediclaim Policy

    The policy covers hospitalization expenses for the treatment of illness/injury provided hospitalisation is more than 24 hours. Pre-hospitalisation expenses for 30 days and post hospitalisation expenses for 60 days are also payable.

  • Business Travel Insurance

    Covers accidental injury, hospitalization expenses, Loss of Checked Baggage, Loss of passport, Hijack, etc. during overseas travel

  • Protect your Company with liability insurance.

  • Public Liability

    Provides protection for claims of compensation in respect of unexpected and unintended property damage or personal injury, to Third Parties, for which the business is legally liable. In addition the policy provides for the costs of defending these claims.

    <%-- --%>

  • Professional Indemnity

    Provides protection for businesses and professional persons for legal liability arising from a breach of professional duty or negligence in the performance of those professional services including legal costs and expenses relating to defending these claims.

  • Statutory Liability

    Provides cover for breaches of most legislation, such as the Fair Trading Act, Consumer Guarantees Act, Privacy Act, but excluding criminal acts & taxation legislation. Cover includes defence costs and, in most cases, fines & penalties imposed following a conviction. Fines under the Health & Safety in Employment Act are excluded.

  • Employers Liability

    Provides protection to employers for the costs of legal action and any compensation awarded to employees as a result of personal injury suffered by an employee in the course of their employment, and not covered by ACC.

  • Directors & Officers Liability

    This cover provides protection to Directors, Senior Management and Officers of your business for wrongful acts committed whilst carrying out their duties associated with the management of the company. Cover includes the costs of legal representation in the defence of civil or criminal proceedings and settlements or judgements awarded against directors and officers where no indemnity is given by the company.

  • Fidelity

    Provides cover to protect the business against loss of money and/or property or services belonging to the company, through any dishonest or fraudulent act by staff employed by the company.

  • Employment Disputes

    Provides protection to employers for personal grievance actions taken against them by employees and prospective employees as a result of unjustified dismissal, discrimination or other disadvantage. Cover includes defence costs, fines and penalties.