Commercial Lines Insurance

Commercial general liability insurance is a broad type of insurance policy which provides liability insurance for general business risks.

 It is the “first line” of coverage that a business typically purchases, and covers many of the common risks that can happen to any type of business, such as bodily injury or property damage on the business premises or due to the business operations, personal and advertising injury, and medical payments. It specifically excludes certain types of risks, including professional services, pollution, liquor, and directors and officers liability, and separate insurance policies are available to cover these situations.

Credit insurance is the provision of insurance against the non-payment of the customer against an insured occurrence (i.e. contractual disagreements and insolvency). Political risk insurance plays the role as an insurance policy for businesses that are purchasing from potentially instable countries.

What Is Cyber Liability Coverage? Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Most cyber policies include both first-party and third-party coverages. Some coverages may be included automatically while others are available “a la carte.”

Directors and officers  (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

To power its rapid economic growth, a developing country needs steady supplies of energy. The development of on-shore and off-shore oil and   gas infrastructure is a major thrust area for both public and private sector companies, to meet surging demand. The push towards manufacturing requires steady investments in commercial power generation, without which the sector may not be able to fully capitalize on growth opportunities. Even though the search for non-polluting energy sources is intensifying, fossil fuels are likely to be widely used in industrial and commercial applications for the foreseeable future.

An employee benefit insurance plan refers to insurance offered by employers to their current employees in the form of a group insurance program. It also serves to attract and retain workers in a company.

Fire and special perils policy is an insurance contract that safeguards the insured against unforeseen contingency caused by accidental fire, lightning, explosion/implosion, destruction or damage caused by aerial devices, man-made perils in the form of riots, strike etc, natural calamities like storm, cyclone, flood etc, damage caused by impact by a rail or a road vehicle, damage caused by landslide or subsidence, peril caused by pollution and contamination, bursting and/or overflowing of water tanks, apparatus and pipes, missile testing operations, leakage from automatic sprinkler installations and bush fire.

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. The Act refers to it as the subject-matter insured.

Professional indemnity insurance can cover compensation payments and legal fees if a business is sued by their client for a mistake they’ve made in their work. The compensation payment will usually take into account the financial loss that the client has suffered.

Professional indemnity insurance can cover a broad range of potential risks. What can seem like small errors can be hugely expensive, but professional indemnity insurance can help to safeguard your business.

Professional indemnity insurance can cover you for mistakes including professional negligence, unintentional breaches of confidentiality or copyright, and loss of documents or data.

Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities

Miscellaneous Insurance refers to contracts of insurance other than those of Life, Fire and Marine insurance. It covers a variety of risks, the chief of which are: – Personal Accident insurance. Personal Accident insurance is insurance for individuals or groups of persons against any personal accident or illness.

Group Health Insurance (or Group Mediclaim) provides healthcare coverage to a group of people belonging to a common community (typically as employees of a company). Group Health Insurance plans are generally uniform in nature, offering the same benefits to all employees or members of the group.

Group Personal Accident Insurance is suitable for organizations/employers, who wish to ensure their employees against permanent total disablement, accidental death, loss or eyes and limbs, and permanent partial disablement. Accidents create financial problems for the insured and dependents alike.

One of the key responsibilities of a company is to provide a safe and healthy working environment. In an unfortunate event of an Employee suffering a bodily injury (temporary or permanent), or death during the course of employment ,Employer is legally liable to pay compensation to the Employee under the Employee’s Compensation Act 1923 and subsequent amendments of the said Act, The Fatal Accidents Act 1855, and at Common Law.

Industrial All Risks Insurance is a wider cover than traditional “Standard Fire and Special Peril Insurance policy”. It is an all risk policy covering a wide range of perils such as fire and allied perils, burglary, accidental damage, breakdown as well as business interruption.

Contractor’s Plant and Machinery (CPM) This is an insurance of contractors’ plant and machinery that is done on an annual basis. It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement.

The object of loss of profit insurance (also known as Consequential Loss or Business Interruption insurance) is to make good for loss of gross profit. FLOP policy covers the loss of gross profit if the loss is occurred due to perils covered under Fire Insurance.