Practical notes on Indian insurance from an IRDAI-registered advisory: claim guides, comparisons, what actually drives a premium, and plain-English explanations. Published daily.
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A marine open policy covers all shipments over time, while a specific voyage policy covers a single shipment or voyage, making the choice between them critical for business owners who ship goods regularly.
The sum insured is the maximum amount an insurance company pays for medical expenses during a policy period, covering hospitalization, doctor fees, and other health-related expenses.
Fire insurance for textile mills in Bhilwara provides financial protection against losses caused by fire and related perils, covering damage to buildings, machinery, and stock.
Cyber insurance pricing for Indian SMEs is driven by several key factors that underwriters consider when assessing the risk profile of a business. The type of industry or sector the business operates…
The cost of commercial vehicle insurance is driven by several key factors that underwriters consider when assessing the risk of a particular vehicle or fleet. One of the primary factors is the type…
When a commercial vehicle is involved in an accident, it is essential to follow the correct procedure to ensure a smooth and efficient claims process. 1. The first step is to notify the police and…
Own damage and third party motor insurance are two types of coverage available to vehicle owners in India. Own damage insurance covers the policyholder's vehicle against damages caused by accidents,…
The recent introduction of a Protection and Indemnity (P&I) initiative in India's maritime sector is a significant development for businesses operating in this space. This move is expected to provide…
When an employee gets injured at work, the employer's first priority should be to ensure the employee receives medical attention. 1. The employer should immediately notify the insurance company and…
Term life insurance and endowment policies are two types of life insurance products available in the Indian market. Term life insurance provides a death benefit to the nominee in the event of the…
Burglary insurance is a type of policy that provides financial protection to business owners in the event of theft or burglary at their shops or warehouses. This type of insurance is essential for…
When a medical emergency arises, it is essential to act quickly and follow the correct procedure to make a cashless health insurance claim. 1. The first step is to get the patient admitted to a…
Professional indemnity and public liability are two types of insurance that are often confused with each other, but they serve distinct purposes. Professional indemnity insurance is designed to…
Office package insurance policy is a type of insurance that provides comprehensive coverage for businesses against various risks and losses. This policy is designed to protect office premises,…
A sum insured is the maximum amount that an insurance company will pay in the event of a claim. This term exists to provide a clear understanding of the financial protection offered by an insurance…
Group health insurance and family floater are two types of health insurance plans available in India. Group health insurance is a type of insurance plan that covers a group of people, usually…
A deductible in insurance is a specific amount that the policyholder must pay out of pocket before the insurance company starts paying for a claim. This concept exists to share the risk between the…
The workmen compensation premium is driven by several key factors that underwriters consider when assessing the risk profile of a business. One of the primary factors is the type of industry or…
Marine cargo insurance premiums are driven by several key factors that underwriters consider when assessing the risk of a shipment. The type of goods being transported is a major factor, as certain…
Most explanations of the average clause describe a rule that stopped applying to Indian commercial fire policies in 2021. Below Rs 50 crore the cliff sits at 85% of value, not at full value, and the difference decides what a partial loss actually pays.
Group health insurance premiums for employers are driven by several key factors that underwriters consider when determining the cost of coverage. The age and health profile of the employees are…
The insurance regulatory landscape in India is constantly evolving, with the Insurance Regulatory and Development Authority of India (IRDAI) regularly introducing reforms to enhance the insurance…
When filing a marine cargo claim, it is essential to act quickly and follow the correct procedures to ensure a smooth and efficient process. 1. In the first hours after discovering the loss or…
The cost of a fire insurance policy in India is determined by several key factors that underwriters consider when assessing the risk of a particular property. The type of property being insured is…