The insurance company will pay compensation to the Insured to the extent of the intrinsic value of the property (Gold, Silver Ornaments, Jewellery, Watches, Cameras and other valuables) of the Insured or member(s) of his / her family, so lost, destroyed or damaged.

All Risk Insurance covers loss or damage caused by

• Fire
• Riot and Strike
• Theft
• Accident
• From any fortuitous cause

A form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home. Home insurance also provides liability coverage against accidents in the home or on the property

Leading financial institutes and insurance companies across the nations offer home insurance plans, these days. Under these plans, the structure and/or contents of the home are protected according to the owner's preference. In India, man-made damages are covered under property insurance.

To be precise, the insurance policy insures the damages done to property and its contents including Jewellery, Silver Articles, Precious Materials, etc. from the following listed below:

• Fire
• Burglary
• Riots
• Terrorism (optional cover)
• Earthquakes
• Flood
• Aircraft damage
• Hurricane
• Bursting of pipes
• Damage done by road vehicles
• Lightning
• Landslides
• Explosion of hazardous material

The sum insured under the home insurance plan is for home structure. However, it is calculated on the basis of a home's reconstruction value. To be precise, it is about the cost incurred after the damage and not in proportion to the market value of the home.

Motor Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability.

Motor Insurance in India is a compulsory requirement for all vehicles used whether for commercial or personal use. Motor premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Motor Insurance in India, like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and Policy copy.

We provide:

• Private Car Insurance
• Two Wheeler Insurance
• Commercial Vehicle Insurance
• Passenger Carrying Vehicle Insurance
• Tractor Insurance, etc.

The Motor Insurance generally includes:

• Loss or damage by Accident, Fire, Lightning, Self ignition, External explosion,    Burglary, Housebreaking or Theft, Malicious act.
• Liability for Third Party injury / death, Third Party property and liability to paid    driver.
• On payment of appropriate additional premium, loss / damage to electrical /    electronic accessories.

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. This policy operates worldwide and is a 24 hours cover.

Different policy covers are available ranging from a restricted cover of Death only to a comprehensive cover covering Death, Permanent Disablements and Temporary Total Disablements. Family Package cover is available to Individuals under Personal Accident Policy whereby the Proposer, Spouse and Dependent children can be covered under a single policy with a 10% discount in premium.

This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service. The policy offers a benefit of Retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of the policy, also become payable.

Group policies can also be issued covering members of one profession. Group discount in premium is available depending upon the number of members covered.

How to select the sum insured?

In Professional Indemnity Policy, the sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively. The ratio of AOA limit to AOY limit can be chosen from the following:

• 1:1
• 1:2
• 1:3
• 1:4

The AOA limit, which is the maximum amount payable for each accident, should be fixed taking into account the nature of activity of the insured and the maximum number of people who could be affected and maximum property damage that could occur, in the worst possible accident.

In the case of Professional Indemnity policy issued to Engineers, Architects, Interior Decorators, Lawyers, Advocates, Solicitors, Counsels, Chartered Accountants, Financial Accountants and Management Consultants, the Any One Accident (AOA) limit is restricted to 25% of the Any One Year (AOY) limit.

Who can take the policy?

The policy is meant for professionals. Insurance companies issue 'Professional Indemnity' policies to the following group of professionals:-

• Doctors and Medical Practitioners – This Policy covers registered medical practitioners like Physicians, Surgeons, Cardiologists, Pathologists, etc.
• Medical Establishments – This policy covers legal liability falling on the medical establishment such as hospitals and nursing homes, as a result of error or omission committed by any named professional or qualified assistants engaged by the medical establishment.
• Engineers, Architects and Interior Decorators.
• Lawyers, Advocates, Solicitors and Counsels.
• Chartered Accountants, Financial Accountants and Management Consultants.

How to claim?

The term "liability" means responsibility and "legal liability" means responsibilities which can be enforced by law. Legal Liability may be classified into Criminal Liability and Civil Liability. Only Civil Liability claims are payable.

Civil Liability claims will arise if there is prima facie evidence of negligence by the insured resulting in injury or death to any third party or resulting in damage to property belonging to a person other than insured.

Negligence will be proved only when following conditions are satisfied:

• Existence of duty of care
• Breach of this duty
• Injury suffered by a person or property damaged as a result of that breach.

In case of any event likely to give rise to a liability claim as described above, insurance company should be informed immediately. In case any legal notice or summons is received, it should be sent to the insurance company. The company has the option of arranging the defense of the case.

The event giving rise to the claim should have occurred during the period of insurance or retroactive period and the claim first made in writing against the insured during the policy period. The maximum amount payable including defense cost will be the AOA limit selected. The Any One Year limit will get reduced by the amount of claim or indemnity paid for any one accident. Any number of such claims made during the policy period will be covered subject to the total indemnity not exceeding the Any One Year limit.

Travel Insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally.

Your abroad trip should be without hassles and worries, and a comprehensive travel insurance policy provides you with the same. Whether you lose your baggage or passport, or even need some medical support on your trip, overseas travel insurance will make sure you get what you need. Go on your vacation / business trip without any worries with the travel insurance policy.

Temporary or Single Trip travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a Multi Trip policy can cover an unlimited number of trips within a set time frame. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have extremely high medical costs, such as the USA.

General coverages in Travel Insurance:

• Emergency Medical Expenses: Covers medical costs incurred due to illness or accident including medically necessary and prescribed emergency evacuation. It covers outpatient, in-patient, medical aid, therapies and diagnostic tests as described in the policy schedule.


• Emergency Medical Evacuation: Evacuation to the home country is covered up to the medical sum insured chosen.


• Repatriation of remains: Covers the funeral expenses or expenses of repatriating the remains back to India, in case of death of the insured in overseas country.


• Emergency Dental Expenses: Covers acute anesthetic treatment of natural teeth.


• Hospital Cash: Pays a daily allowance as stated in the policy schedule in the event of hospitalization either due to sickness or accidents.


• Accidental Death and Permanent Total Disability Common Carrier: The insurance company will pay the sum insured specified in the schedule in addition to the sum insured specified under the Personal Accident section, if the insured sustains Accidental Bodily Injury during the course of the journey while travelling in a common carrier such as rail, bus, tram, or aircraft; and such bodily injury results in death or permanent total disability.


• Personal accident: Compensation paid in case of death or permanent total disability caused due to an accident.


• Flight delay: Compensation if the aircraft is delayed for more than 12 hours than the original scheduled departure time.


• Loss of Passport: Expenses incurred in obtaining a fresh or new passport.


• Loss of Checked Baggage: Compensation for the permanent loss of checked-in baggage.


• Delay of Checked Baggage: Compensation for reasonable expenses incurred for the purchase of toiletries, clothing and medication due to delay of checked-in baggage for more than 12 hours.


• Personal Liability: Compensation of damages to be paid to a third party, resulting from death, injury or damage to health or property caused involuntarily by the insured.


• Financial Emergency Assistance: Insurance cover is provided in the event of the Insured Person getting into a financial emergency due to theft, pilferage, robbery or dacoity of his/her travel funds. A fixed sum is paid as emergency assistance up to the limits specified under the Policy.


• Hotel Accommodation: Pays for the cost of hotel accomodation, if the Insured Person sustains Bodily Injury or Sickness which directly and independently of all other causes results in a hospital stay as an in-patient and misses his/her flight back to the country of residence.


• Hijack Distress Allowance: Insurance cover is provided in the event of the hijack of the air or sea common carrier in which the Insured Person is traveling whilst on the trip abroad during the Period of Insurance. An allowance will be paid for each day of the hijack up to the limits specified under the Policy.

Liability insurance provides a complete range of business and commercial policies that cover legal liability of your company and your directors towards third parties and employees.

A contract of marine insurance is an agreement whereby the insurer undertakes to indemnify the assured, in the manner and to the extent agreed, against losses incidental to marine adventure. There is a marine adventure when any insurable property is exposed to maritime perils i.e. perils consequent to navigation of the sea. The term 'perils of the sea' refers only to accidents or causalities of the sea, and does not include the ordinary action of the winds and waves. Besides, maritime perils include, fire, war perils, pirates, seizures and jettison, etc.

There are four types of marine insurance:-

• Hull Insurance: It covers the insurance of the vessel and its equipment i.e. furniture and fittings, machinery, tools, fuel, etc. It is affected generally by the owner of the ship.
• Cargo Insurance: It includes the cargo or goods contained in the ship and the personal belongings of the crew and passengers.
• Freight Insurance: It provides protection against the loss of freight. In many cases, the owner of goods is bound to pay freight, under the terms of the contract, only when the goods are safely delivered at the port of destination. If the ship is lost on the way or the cargo is damaged or stolen, the shipping company loses the freight. Freight insurance is taken to guard against such risk.
• Liability Insurance: It is one in which the insurer undertakes to indemnify against the loss which the insured may suffer on account of liability to a third party caused by collision of the ship and other similar hazards.

In a contract of marine insurance, the insured must have insurable interest in the subject matter insured at the time of the loss. Insurable interest is not required to be present at the time of taking the policy. Under marine insurance, the following persons are deemed to have insurable interest:-

• The owner of the ship has an insurable interest in the ship.
• The owner of the cargo has insurable interest in the cargo.
• A creditor who has advanced money on the security of the ship or cargo has insurable interest to the extent of his loan.
• The master and crew of the ship have insurable interest in respect of their wages.
• If the subject matter of insurance is mortgaged, the mortgagor has insurable interest in the full value thereof, and the mortgagee has insurable interest in respect of any sum due to him.
• A trustee holding any property in trust has insurable interest in such property.
• In case of advance freight the person advancing the freight has an insurable interest in so far as such freight is repayable in case of loss.
• The insured has an insurable interest in the charges of any insurance policy which he may take.

Types of Marine Insurance Policies:-

• Voyage Policy: It is a policy in which the subject matter is insured for a particular voyage irrespective of the time involved in it. In this case the risk attaches only when the ship starts on the voyage.
• Time Policy: It is a policy in which the subject matter is insured for a definite period of time. The ship may pursue any course it likes; the policy would cover all the risks from perils of the sea for the stated period of time. A time policy cannot be for a period exceeding one year, but it may contain a 'continuation clause'. The 'continuation clause' means that if the voyage is not completed within the specified period, the risk shall be covered until the voyage is completed, or till the arrival of the ship at the port of call.
• Mixed Policy: It is a combination of voyage and time policies and covers the risk during particular voyage for a specified period of time.
• Valued Policy: It is a policy in which the value of the subject matter insured is agreed upon between the insurer and the insured and it is specified in the policy itself.
• Open or Un-valued Policy: It is the policy in which the value of the subject matter insured is not specified. Subject to the limit of the sum assured, it leaves the value of the loss to be subsequently ascertained.
• Floating Policy: It is a policy which only mentions the amount for which the insurance is taken out and leaves the name of the ship(s) and other particulars to be defined by subsequent declarations. Such policies are very useful to merchants who regularly dispatch goods through ships.
• Wagering or Honour Policy: It is a policy in which the assured has no insurable interest and the underwriter is prepared to dispense with the insurable interest. Such policies are also known as 'Policy Proof of Interest' (P.P.I).