Property Insurance
Art and Artifacts Insurance
Terrorism Insurance
Loss of Profit / Revenue
Cyber Risk Insurance
Commercial General Liability
Workmen Compensation
Pollution Legal Liability
Crime / Fidelity Insurance
Property of any kind whether manufacturing units,warehouses, shops, schools, hotels, hospitals, offices, residential, storage units, trading and services or c9ommercial complexes could be exposed to loss or damage due to Fire & Allied Perils Insurance and Fire Consequential Loss. In addition, we offer package policies against risks of burglary, money, employee Infidelity, all Risk Insurance (for portable equipment), machinery breakdown Insurance (for plant & machinery), electronic equipment insurance, plate glass, travel baggage covers etc..
Standard Fire and Special Perils
Perils insured are fire, lightning, explosion / implosion, impact damage, aircraft impact, bursting / overflowing of water tanks / pipes / apparatus, sprinkler leakage, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide including landslide, riots, strikes, malicious damage, missile testing operations. Other perils which can be insured as add-on covers are earthquake, terrorism, removal of debris, spontaneous combustion etc.
Consequential Loss of Profit
This policy covers loss of profits of a business due to reduction in turnover caused by a loss or damage covered under Standard Fire Insurance. This also includes cover for Increased Cost of Working following the loss of standing charges.
Burglary Insurance
To the insured’s premises or contents caused by actual or attempted burglary/robbery (excluding valuables unless specifically insured).
Insurance Money in Transit
Loss of money in transit to the specified destinations against robbery, theft or any other unfortunate event. Transit for the purpose of this policy commences with the taking over of the money for the purpose of transit and ends as soon as the money reaches the place of delivery.
Insurance Money in Safe
Loss of money that is kept in safe which have to be paid as salaries towards employees or petty cash kept in safe.
Fidelity Insurance
Any direct pecuniary loss caused by the act of fraud or dishonesty committed by any salaried person employed by the insured during the course of the business provided: Such loss is committed by the employee with the primary intention to obtain personal financial gain and such loss is first discovered during the policy period
Machinery Breakdown
This section covers breakdown of any business appliances such as photocopying machine, deep freezers, money counting achines, AC’s, chillers, DG sets, lifts/elevators, sewage treatment plan, water treatment plan, etc. solely as a result of electrical or mechanical breakdown.
Breakdown of Electronic Appliances
This is an all risk cover and losses or damages due to any cause other than those specifically excluded are covered. Damage to media data and cost of reproduction of lost data can also be covered. Items insured under this section need not to be insured under Fire & Burglary sections.
Neon / Glow Sign
Covers any losses or damage due to accidents, fire and allied perils, riots and strikes to the neon / glow signs.
All Risks (portable equipment)
Insures the risk of accidental damage to portable equipments such as laptops and other electronic equipments, test & measuring instruments, etc. Also covers these equipments at any location and including whilst in transit in the personal custody of the employees of the business.
Plate Glass
Fixed plate glass in the interior of the business premises is expensive and is prone to accidental and/or malicious breakage. Plate glass insurance covers the risk of accidental damage to plate glass installed in the business premises. It covers repair/replacement of such glass and reasonable costs.
Employee practices liability insurance is of utmost importance for any business. This type of policy provides coverage to a business in relation to its employees in relation to age, sex, harassment, disability, breach of contract, wrongful termination or race.
Large businesses often have multiple EPLI policies to equip them in handling lawsuits filed against their favour. EPLI helps a business in decreasing its chances of being targeted in a lawsuit. Unfortunately, small businesses overlook the importance such policies.
Insurance providers during any proposal, thoroughly review a company’s employment practice and makes sure necessary amendments are implemented prior to the contract.
EPLI provides protection against many kinds of employee lawsuits, including coverage of claims arising from:
  • Sexual harassment
  • Discrimination
  • Wrongful termination
  • Breach of employment contract
  • Negligent evaluation
  • Failure to employ or promote
  • Wrongful discipline
  • Deprivation of career opportunity
  • Wrongful infliction of emotional distress
  • Mis-management of employee benefit plans
In today’s volatile world, after the occurence of events such as the Mumbai Taj Mahal palace attack, 2013 Hyderabad Blast and other terrorist strikes around the world, global terrorism coverage is essential. This product offers a global solution to the risk of damage caused by act of terrorism.
A terrorist attack can occur anytime, anywhere, with devastating consequences impacting not only those directly targeted but also those operating within the surrounding community. With the right protection, these damages an be limited and the security of having an insurance cover is comforting.
Businesses do not need to be specifically targeted to suffer the impact of a terrorist attack.
ISIS continues to threaten India as primary target. Recent terrorist attacks in the United States, Canada, France, Brussels and the United Kingdom illustrate ] the ongoing risk, harm and frequency of global terrorism.
Coverages:
  • Covers worldwide property damage – Commercial and Residential resulting from terrorism and sabotage, including the risk of business interruption;
  • The coverage also includes debris removal costs.
  • Covers ingress/egress and service i
  • This coverage is provided either on full value or first loss basis as requested by the client
  • Material Damage – On all real & personal property of the insured or in insured’s care or custody or control or held by Insured in trust or commission for which they are responsible whilst situated at the specified locations including but not limited to building, contents, equipment, machinery, furniture, fixtures, fittings, plinth & foundation, road, leasehold improvements, stock, office c
  • Gross Profit / Rental / Revenue insured.
  • Loss due to denial of access by civil or military order.
  • Contingent business interruption.
  • Looting following an insured event.
  • Loss of valuable papers and records.
  • Increased cost of construction.
  • Professional fees.
Property of any kind whether manufacturing units,warehouses, shops, schools, hotels, hospitals, offices, residential, storage units, trading and services or c9ommercial complexes could be exposed to loss or damage due to Fire & Allied Perils Insurance and Fire Consequential Loss. In addition, we offer package policies against risks of burglary, money, employee Infidelity, all Risk Insurance (for portable equipment), machinery breakdown Insurance (for plant & machinery), electronic equipment insurance, plate glass, travel baggage covers etc..
Standard Fire and Special Perils
Perils insured are fire, lightning, explosion / implosion, impact damage, aircraft impact, bursting / overflowing of water tanks / pipes / apparatus, sprinkler leakage, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide including landslide, riots, strikes, malicious damage, missile testing operations. Other perils which can be insured as add-on covers are earthquake, terrorism, removal of debris, spontaneous combustion etc.
Consequential Loss of Profit
This policy covers loss of profits of a business due to reduction in turnover caused by a loss or damage covered under Standard Fire Insurance. This also includes cover for Increased Cost of Working following the loss of standing charges.
Burglary Insurance
To the insured’s premises or contents caused by actual or attempted burglary/robbery (excluding valuables unless specifically insured).
Insurance Money in Transit
Loss of money in transit to the specified destinations against robbery, theft or any other unfortunate event. Transit for the purpose of this policy commences with the taking over of the money for the purpose of transit and ends as soon as the money reaches the place of delivery.
Insurance Money in Safe
Loss of money that is kept in safe which have to be paid as salaries towards employees or petty cash kept in safe.
Fidelity Insurance
Any direct pecuniary loss caused by the act of fraud or dishonesty committed by any salaried person employed by the insured during the course of the business provided: Such loss is committed by the employee with the primary intention to obtain personal financial gain and such loss is first discovered during the policy period
Machinery Breakdown
This section covers breakdown of any business appliances such as photocopying machine, deep freezers, money counting achines, AC’s, chillers, DG sets, lifts/elevators, sewage treatment plan, water treatment plan, etc. solely as a result of electrical or mechanical breakdown.
Breakdown of Electronic Appliances
This is an all risk cover and losses or damages due to any cause other than those specifically excluded are covered. Damage to media data and cost of reproduction of lost data can also be covered. Items insured under this section need not to be insured under Fire & Burglary sections.
Neon / Glow Sign
Covers any losses or damage due to accidents, fire and allied perils, riots and strikes to the neon / glow signs.
All Risks (portable equipment)
Insures the risk of accidental damage to portable equipments such as laptops and other electronic equipments, test & measuring instruments, etc. Also covers these equipments at any location and including whilst in transit in the personal custody of the employees of the business.
Plate Glass
Fixed plate glass in the interior of the business premises is expensive and is prone to accidental and/or malicious breakage. Plate glass insurance covers the risk of accidental damage to plate glass installed in the business premises. It covers repair/replacement of such glass and reasonable costs.
Cyber Insurance is designed to protect commercial businesses against a wide range of first and third-party liability occurring out of cyber exposures associated with e-business, internet, networks and information assets. Companies with access to private & confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and transactional exposures. Cyber risk is steadily increasing concerns around data security affecting hundreds of millions of records a year and reporting of breaches continue to rise at a dramatic rate. The introduction of viruses and unauthorized access are well known examples.
Policy Features
First Party Cover:
  • E-Theft is a loss incurred in the process of transferring funds or property or any given value, due to the fraudulent input of data into a computer system or through a network into a computer system.
  • E-communication is a loss caused due to a customer having transferred funds or property or given any value, on the faith[1] of any fraudulent communication for which loss you are held legally liable.
  • E-Threat exemplifies loss including the cost of a professional negotiator and any payment made or any fund or property surrender intended as an extortion payment.
  • E-Vandalism covers losses even when the vandalism is caused by an employee.
  • E-Business interruption including extra expenses
  • Privacy Notification Expenses including the cost of credit monitoring services or similar services for affected customers. (Subject to a sub limit)[2]
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
Third party liability:
  • Disclosure Liability including customer claims due to system security failures resulting in unauthorized access to or dissemination of private information on the Internet.
  • Content Liability including claims for intellectual property, trademark and copyright infringement.
  • Reputational Liability includes claims alleging disparagement of products or services, libel, slander, defamation and invasion of privacy.
  • Conduit Liability including claims arising from system security failures that result in harm to third-party systems.
  • Impaired Access Liability includes claims due to system security failure resulting in systems being unavailable to customers.
  • Defense Costs cover any cost incurred in defending any claim brought by a government agency or licensing or regulatory organization.
  • Defence Costs in advance of the final disposition of any cyber liability claim and within 30 days of receipt of invoice for such costs.
  • Claims definition includes Extradition proceedings.
  • Prior Notice Exclusion: Excludes prior notice of a fact or circumstance that has been accepted by the previous insurer rather than notice given.
  • Full Severability of Exclusions : Knowledge of one Insured Person is not imputed to another and only knowledge possessed by the Chief Executive Officer, Chief Financial Officer or the Chief Operating Officer of the Organization will be imputed to the Organization.
This policy protects your business from financial losses, includes legal costs and compensations arising from property damage or bodily injury caused to any third party due to –
  • The services rendered
  • In-course of business operations
  • Negligence of any employee
  • Includes, non-professional neligent acts: Up to the precribed limits fore-mentioned by the policy
Claims may arise
  • While visiting your business, a customer trips on loose flooring and is injured.
  • An employee in your painting or construction business accidentally leaves water running, causing substantial damage to a customer’s home.
  • A class action lawsuit is filed against your business, alleging advertisements constituted misleading information.
Standard CGL includes :
Coverage A: Bodily injury and property damage
This cover provides protection against losses from the legal liability for bodily injury or property damage to others arising out of non-professional negligent acts or for liability arising out of their premises or business operations. Mental injuries and emotional distress can be considered bodily injuries, even in the absence of physical bodily harm.
Coverage B: Personal and advertising injury
Personal and advertising injury protects an insured against liability arising out of offences, such as:
  • Libel
  • Slander
  • False arrest
  • Infringing on another’s copyright
  • Malicious prosecution
  • Use of another’s advertising idea
  • Wrongful eviction, entry or invasion of privacy
Coverage C: Medical Payments
Medical payments includes limited coverage for injuries sustained by a non-employee caused due to an accident that takes place on the insured’s premises or when exposed to the insured’s business operations. CGL pays for all necessary and reasonable medical, surgical, ambulance, hospital, professional nursing and funeral expenses for a person injured or killed in an accident taking place at the insured’s premises or arising from business operations.
Claims Made V/s Occurrence Based policy
" A ‘Claims Made Policy’ is where the claim would occur and has to be lodged within the policy period. This is usually given in conventional CGL policy & would only become relevant when the policy is not renewed subsequently. "
" Occurrence Based Policy is relevant to CGL Policy where the claims, which have taken place during the currency of the policy, can be lodged even after the expiry of the policy period, even if the policy is not renewed "
It is a compensation payable under a scheme set out in the workmen Compensation Act of India, monitored by the Ministry of Labor. The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by workmen in the insured’s immediate service and during the course of employment. Costs or expenses incurred by the insured employer, with the consent of the company, to defend any claims are paid in addition to the above.
Laws under WC Policy
The policy covers legal liability of an employer under
  • Workmen Compensation Act 1923 and subsequent amendments of the said Act prior to the date of issue of the policy
  • Indian Fatal Accidents Act 1855, and subsequent amendments of the said Act prior to the date of issue of the policy
  • Common Law
Need for policy
  • Any employer, whether as principal or contractor, engaging “workmen” as defined in the workmen compensation Act
  • Any Employer of employees who do not qualify as “workmen” but share an employee-employer relationship
Scope of coverage
  • Death
  • Permanent Total Disability
  • Permanent Partial Disability
  • Legal cost and Expenses incurred with the companies’ consent
The amount of compensation payable is calculated as per the WC Act using factors like age of the individual, the nature of disability and the last drawn salary. Premium rates are based on the nature of duties performed and on the basis of annual estimated wages disbursed to the workmen,
This insurance does not cover any interest and/or penalty which may be imposed on account of failure to comply with the statutory requirements laid out.
Cyber Insurance is designed to protect commercial businesses against a wide range of first and third-party liability occurring out of cyber exposures associated with e-business, internet, networks and information assets. Companies with access to private & confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and transactional exposures. Cyber risk is steadily increasing concerns around data security affecting hundreds of millions of records a year and reporting of breaches continue to rise at a dramatic rate. The introduction of viruses and unauthorized access are well known examples.
Policy Features
First Party Cover:
  • E-Theft is a loss incurred in the process of transferring funds or property or any given value, due to the fraudulent input of data into a computer system or through a network into a computer system.
  • E-communication is a loss caused due to a customer having transferred funds or property or given any value, on the faith[1] of any fraudulent communication for which loss you are held legally liable.
  • E-Threat exemplifies loss including the cost of a professional negotiator and any payment made or any fund or property surrender intended as an extortion payment.
  • E-Vandalism covers losses even when the vandalism is caused by an employee.
  • E-Business interruption including extra expenses
  • Privacy Notification Expenses including the cost of credit monitoring services or similar services for affected customers. (Subject to a sub limit)[2]
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
Third party liability:
  • Disclosure Liability including customer claims due to system security failures resulting in unauthorized access to or dissemination of private information on the Internet.
  • Content Liability including claims for intellectual property, trademark and copyright infringement.
  • Reputational Liability includes claims alleging disparagement of products or services, libel, slander, defamation and invasion of privacy.
  • Conduit Liability including claims arising from system security failures that result in harm to third-party systems.
  • Impaired Access Liability includes claims due to system security failure resulting in systems being unavailable to customers.
  • Defense Costs cover any cost incurred in defending any claim brought by a government agency or licensing or regulatory organization.
  • Defence Costs in advance of the final disposition of any cyber liability claim and within 30 days of receipt of invoice for such costs.
  • Claims definition includes Extradition proceedings.
  • Prior Notice Exclusion: Excludes prior notice of a fact or circumstance that has been accepted by the previous insurer rather than notice given.
  • Full Severability of Exclusions : Knowledge of one Insured Person is not imputed to another and only knowledge possessed by the Chief Executive Officer, Chief Financial Officer or the Chief Operating Officer of the Organization will be imputed to the Organization.
A commercial crime policy typically provides several different types of crime coverage including employee dishonesty, forgery or alteration, computer fraud, funds transfer fraud, money & securities and money orders and counterfeit money.
Every company is susceptible to white collar crime. Initially offences may seem inconsequential, over time however, they multiply and cause significant losses to an organization.
Need for Crime Policy
  • Theft by employees or management includes direct theft of cash or business assets, falsification of claim expenses or payroll fraud.
  • Collusion between employee and a third party receiving bribes or commissions from a supplier for awarding of a contract, failure of an employee to disclose financial interest in a transaction.
  • Computer fraud such as diverting funds from bank accounts, stealing intellectual property, posing as a legitimate business on the Internet and obtaining payment for goods or services.
Coverages:
  • Employee Theft Coverage: Loss of money, securities or other property by theft or forgery by an identifiable employee of the Insured.
  • Premises Coverage: Losses from destruction, disappearance or wrongful abstraction or computer theft of money or securities from the Insured premises by third parties.
  • Transit Coverage: Losses sustained due to the destruction, disappearance or abstraction of money and securities outside the Insured’s premises by a third party, while being conveyed by the Insured, an armoured motor vehicle company or any person authorised by the Insured.
  • Depositors Forgery Coverage: Losses from instruments such as cheques fraudulently drawn on Insured’s accounts by a third party.
  • Computer Fraud Coverage: An extension to cover losses sustained and expenses incurred by an insured due to a computer fraud or violation by a third party.
Property of any kind whether manufacturing units,warehouses, shops, schools, hotels, hospitals, offices, residential, storage units, trading and services or c9ommercial complexes could be exposed to loss or damage due to Fire & Allied Perils Insurance and Fire Consequential Loss. In addition, we offer package policies against risks of burglary, money, employee Infidelity, all Risk Insurance (for portable equipment), machinery breakdown Insurance (for plant & machinery), electronic equipment insurance, plate glass, travel baggage covers etc..
Standard Fire and Special Perils
Perils insured are fire, lightning, explosion / implosion, impact damage, aircraft impact, bursting / overflowing of water tanks / pipes / apparatus, sprinkler leakage, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide including landslide, riots, strikes, malicious damage, missile testing operations. Other perils which can be insured as add-on covers are earthquake, terrorism, removal of debris, spontaneous combustion etc.
Consequential Loss of Profit
This policy covers loss of profits of a business due to reduction in turnover caused by a loss or damage covered under Standard Fire Insurance. This also includes cover for Increased Cost of Working following the loss of standing charges.
Burglary Insurance
To the insured’s premises or contents caused by actual or attempted burglary/robbery (excluding valuables unless specifically insured).
Insurance Money in Transit
Loss of money in transit to the specified destinations against robbery, theft or any other unfortunate event. Transit for the purpose of this policy commences with the taking over of the money for the purpose of transit and ends as soon as the money reaches the place of delivery.
Insurance Money in Safe
Loss of money that is kept in safe which have to be paid as salaries towards employees or petty cash kept in safe.
Fidelity Insurance
Any direct pecuniary loss caused by the act of fraud or dishonesty committed by any salaried person employed by the insured during the course of the business provided: Such loss is committed by the employee with the primary intention to obtain personal financial gain and such loss is first discovered during the policy period
Machinery Breakdown
This section covers breakdown of any business appliances such as photocopying machine, deep freezers, money counting achines, AC’s, chillers, DG sets, lifts/elevators, sewage treatment plan, water treatment plan, etc. solely as a result of electrical or mechanical breakdown.
Breakdown of Electronic Appliances
This is an all risk cover and losses or damages due to any cause other than those specifically excluded are covered. Damage to media data and cost of reproduction of lost data can also be covered. Items insured under this section need not to be insured under Fire & Burglary sections.
Neon / Glow Sign
Covers any losses or damage due to accidents, fire and allied perils, riots and strikes to the neon / glow signs.
All Risks (portable equipment)
Insures the risk of accidental damage to portable equipments such as laptops and other electronic equipments, test & measuring instruments, etc. Also covers these equipments at any location and including whilst in transit in the personal custody of the employees of the business.
Plate Glass
Fixed plate glass in the interior of the business premises is expensive and is prone to accidental and/or malicious breakage. Plate glass insurance covers the risk of accidental damage to plate glass installed in the business premises. It covers repair/replacement of such glass and reasonable costs.
Employee practices liability insurance is of utmost importance for any business. This type of policy provides coverage to a business in relation to its employees in relation to age, sex, harassment, disability, breach of contract, wrongful termination or race.
Large businesses often have multiple EPLI policies to equip them in handling lawsuits filed against their favour. EPLI helps a business in decreasing its chances of being targeted in a lawsuit. Unfortunately, small businesses overlook the importance such policies.
Insurance providers during any proposal, thoroughly review a company’s employment practice and makes sure necessary amendments are implemented prior to the contract.
EPLI provides protection against many kinds of employee lawsuits, including coverage of claims arising from:
  • Sexual harassment
  • Discrimination
  • Wrongful termination
  • Breach of employment contract
  • Negligent evaluation
  • Failure to employ or promote
  • Wrongful discipline
  • Deprivation of career opportunity
  • Wrongful infliction of emotional distress
  • Mis-management of employee benefit plans
In today’s volatile world, after the occurence of events such as the Mumbai Taj Mahal palace attack, 2013 Hyderabad Blast and other terrorist strikes around the world, global terrorism coverage is essential. This product offers a global solution to the risk of damage caused by act of terrorism.
A terrorist attack can occur anytime, anywhere, with devastating consequences impacting not only those directly targeted but also those operating within the surrounding community. With the right protection, these damages an be limited and the security of having an insurance cover is comforting.
Businesses do not need to be specifically targeted to suffer the impact of a terrorist attack.
ISIS continues to threaten India as primary target. Recent terrorist attacks in the United States, Canada, France, Brussels and the United Kingdom illustrate ] the ongoing risk, harm and frequency of global terrorism.
Coverages:
  • Covers worldwide property damage – Commercial and Residential resulting from terrorism and sabotage, including the risk of business interruption;
  • The coverage also includes debris removal costs.
  • Covers ingress/egress and service i
  • This coverage is provided either on full value or first loss basis as requested by the client
  • Material Damage – On all real & personal property of the insured or in insured’s care or custody or control or held by Insured in trust or commission for which they are responsible whilst situated at the specified locations including but not limited to building, contents, equipment, machinery, furniture, fixtures, fittings, plinth & foundation, road, leasehold improvements, stock, office c
  • Gross Profit / Rental / Revenue insured.
  • Loss due to denial of access by civil or military order.
  • Contingent business interruption.
  • Looting following an insured event.
  • Loss of valuable papers and records.
  • Increased cost of construction.
  • Professional fees.
Property of any kind whether manufacturing units,warehouses, shops, schools, hotels, hospitals, offices, residential, storage units, trading and services or c9ommercial complexes could be exposed to loss or damage due to Fire & Allied Perils Insurance and Fire Consequential Loss. In addition, we offer package policies against risks of burglary, money, employee Infidelity, all Risk Insurance (for portable equipment), machinery breakdown Insurance (for plant & machinery), electronic equipment insurance, plate glass, travel baggage covers etc..
Standard Fire and Special Perils
Perils insured are fire, lightning, explosion / implosion, impact damage, aircraft impact, bursting / overflowing of water tanks / pipes / apparatus, sprinkler leakage, storm, cyclone, typhoon, hurricane, tempest, tornado, flood, inundation, subsidence, landslide including landslide, riots, strikes, malicious damage, missile testing operations. Other perils which can be insured as add-on covers are earthquake, terrorism, removal of debris, spontaneous combustion etc.
Consequential Loss of Profit
This policy covers loss of profits of a business due to reduction in turnover caused by a loss or damage covered under Standard Fire Insurance. This also includes cover for Increased Cost of Working following the loss of standing charges.
Burglary Insurance
To the insured’s premises or contents caused by actual or attempted burglary/robbery (excluding valuables unless specifically insured).
Insurance Money in Transit
Loss of money in transit to the specified destinations against robbery, theft or any other unfortunate event. Transit for the purpose of this policy commences with the taking over of the money for the purpose of transit and ends as soon as the money reaches the place of delivery.
Insurance Money in Safe
Loss of money that is kept in safe which have to be paid as salaries towards employees or petty cash kept in safe.
Fidelity Insurance
Any direct pecuniary loss caused by the act of fraud or dishonesty committed by any salaried person employed by the insured during the course of the business provided: Such loss is committed by the employee with the primary intention to obtain personal financial gain and such loss is first discovered during the policy period
Machinery Breakdown
This section covers breakdown of any business appliances such as photocopying machine, deep freezers, money counting achines, AC’s, chillers, DG sets, lifts/elevators, sewage treatment plan, water treatment plan, etc. solely as a result of electrical or mechanical breakdown.
Breakdown of Electronic Appliances
This is an all risk cover and losses or damages due to any cause other than those specifically excluded are covered. Damage to media data and cost of reproduction of lost data can also be covered. Items insured under this section need not to be insured under Fire & Burglary sections.
Neon / Glow Sign
Covers any losses or damage due to accidents, fire and allied perils, riots and strikes to the neon / glow signs.
All Risks (portable equipment)
Insures the risk of accidental damage to portable equipments such as laptops and other electronic equipments, test & measuring instruments, etc. Also covers these equipments at any location and including whilst in transit in the personal custody of the employees of the business.
Plate Glass
Fixed plate glass in the interior of the business premises is expensive and is prone to accidental and/or malicious breakage. Plate glass insurance covers the risk of accidental damage to plate glass installed in the business premises. It covers repair/replacement of such glass and reasonable costs.
Cyber Insurance is designed to protect commercial businesses against a wide range of first and third-party liability occurring out of cyber exposures associated with e-business, internet, networks and information assets. Companies with access to private & confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and transactional exposures. Cyber risk is steadily increasing concerns around data security affecting hundreds of millions of records a year and reporting of breaches continue to rise at a dramatic rate. The introduction of viruses and unauthorized access are well known examples.
Policy Features
First Party Cover:
  • E-Theft is a loss incurred in the process of transferring funds or property or any given value, due to the fraudulent input of data into a computer system or through a network into a computer system.
  • E-communication is a loss caused due to a customer having transferred funds or property or given any value, on the faith[1] of any fraudulent communication for which loss you are held legally liable.
  • E-Threat exemplifies loss including the cost of a professional negotiator and any payment made or any fund or property surrender intended as an extortion payment.
  • E-Vandalism covers losses even when the vandalism is caused by an employee.
  • E-Business interruption including extra expenses
  • Privacy Notification Expenses including the cost of credit monitoring services or similar services for affected customers. (Subject to a sub limit)[2]
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
Third party liability:
  • Disclosure Liability including customer claims due to system security failures resulting in unauthorized access to or dissemination of private information on the Internet.
  • Content Liability including claims for intellectual property, trademark and copyright infringement.
  • Reputational Liability includes claims alleging disparagement of products or services, libel, slander, defamation and invasion of privacy.
  • Conduit Liability including claims arising from system security failures that result in harm to third-party systems.
  • Impaired Access Liability includes claims due to system security failure resulting in systems being unavailable to customers.
  • Defense Costs cover any cost incurred in defending any claim brought by a government agency or licensing or regulatory organization.
  • Defence Costs in advance of the final disposition of any cyber liability claim and within 30 days of receipt of invoice for such costs.
  • Claims definition includes Extradition proceedings.
  • Prior Notice Exclusion: Excludes prior notice of a fact or circumstance that has been accepted by the previous insurer rather than notice given.
  • Full Severability of Exclusions : Knowledge of one Insured Person is not imputed to another and only knowledge possessed by the Chief Executive Officer, Chief Financial Officer or the Chief Operating Officer of the Organization will be imputed to the Organization.
This policy protects your business from financial losses, includes legal costs and compensations arising from property damage or bodily injury caused to any third party due to –
  • The services rendered
  • In-course of business operations
  • Negligence of any employee
  • Includes, non-professional neligent acts: Up to the precribed limits fore-mentioned by the policy
Claims may arise
  • While visiting your business, a customer trips on loose flooring and is injured.
  • An employee in your painting or construction business accidentally leaves water running, causing substantial damage to a customer’s home.
  • A class action lawsuit is filed against your business, alleging advertisements constituted misleading information.
Standard CGL includes :
Coverage A: Bodily injury and property damage
This cover provides protection against losses from the legal liability for bodily injury or property damage to others arising out of non-professional negligent acts or for liability arising out of their premises or business operations. Mental injuries and emotional distress can be considered bodily injuries, even in the absence of physical bodily harm.
Coverage B: Personal and advertising injury
Personal and advertising injury protects an insured against liability arising out of offences, such as:
  • Libel
  • Slander
  • False arrest
  • Infringing on another’s copyright
  • Malicious prosecution
  • Use of another’s advertising idea
  • Wrongful eviction, entry or invasion of privacy
Coverage C: Medical Payments
Medical payments includes limited coverage for injuries sustained by a non-employee caused due to an accident that takes place on the insured’s premises or when exposed to the insured’s business operations. CGL pays for all necessary and reasonable medical, surgical, ambulance, hospital, professional nursing and funeral expenses for a person injured or killed in an accident taking place at the insured’s premises or arising from business operations.
Claims Made V/s Occurrence Based policy
" A ‘Claims Made Policy’ is where the claim would occur and has to be lodged within the policy period. This is usually given in conventional CGL policy & would only become relevant when the policy is not renewed subsequently. "
" Occurrence Based Policy is relevant to CGL Policy where the claims, which have taken place during the currency of the policy, can be lodged even after the expiry of the policy period, even if the policy is not renewed "
It is a compensation payable under a scheme set out in the workmen Compensation Act of India, monitored by the Ministry of Labor. The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by workmen in the insured’s immediate service and during the course of employment. Costs or expenses incurred by the insured employer, with the consent of the company, to defend any claims are paid in addition to the above.
Laws under WC Policy
The policy covers legal liability of an employer under
  • Workmen Compensation Act 1923 and subsequent amendments of the said Act prior to the date of issue of the policy
  • Indian Fatal Accidents Act 1855, and subsequent amendments of the said Act prior to the date of issue of the policy
  • Common Law
Need for policy
  • Any employer, whether as principal or contractor, engaging “workmen” as defined in the workmen compensation Act
  • Any Employer of employees who do not qualify as “workmen” but share an employee-employer relationship
Scope of coverage
  • Death
  • Permanent Total Disability
  • Permanent Partial Disability
  • Legal cost and Expenses incurred with the companies’ consent
The amount of compensation payable is calculated as per the WC Act using factors like age of the individual, the nature of disability and the last drawn salary. Premium rates are based on the nature of duties performed and on the basis of annual estimated wages disbursed to the workmen,
This insurance does not cover any interest and/or penalty which may be imposed on account of failure to comply with the statutory requirements laid out.
Cyber Insurance is designed to protect commercial businesses against a wide range of first and third-party liability occurring out of cyber exposures associated with e-business, internet, networks and information assets. Companies with access to private & confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and transactional exposures. Cyber risk is steadily increasing concerns around data security affecting hundreds of millions of records a year and reporting of breaches continue to rise at a dramatic rate. The introduction of viruses and unauthorized access are well known examples.
Policy Features
First Party Cover:
  • E-Theft is a loss incurred in the process of transferring funds or property or any given value, due to the fraudulent input of data into a computer system or through a network into a computer system.
  • E-communication is a loss caused due to a customer having transferred funds or property or given any value, on the faith[1] of any fraudulent communication for which loss you are held legally liable.
  • E-Threat exemplifies loss including the cost of a professional negotiator and any payment made or any fund or property surrender intended as an extortion payment.
  • E-Vandalism covers losses even when the vandalism is caused by an employee.
  • E-Business interruption including extra expenses
  • Privacy Notification Expenses including the cost of credit monitoring services or similar services for affected customers. (Subject to a sub limit)[2]
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
  • Crisis Expenses including the cost of public relations consultants. (Subject to a sub limit) .
Third party liability:
  • Disclosure Liability including customer claims due to system security failures resulting in unauthorized access to or dissemination of private information on the Internet.
  • Content Liability including claims for intellectual property, trademark and copyright infringement.
  • Reputational Liability includes claims alleging disparagement of products or services, libel, slander, defamation and invasion of privacy.
  • Conduit Liability including claims arising from system security failures that result in harm to third-party systems.
  • Impaired Access Liability includes claims due to system security failure resulting in systems being unavailable to customers.
  • Defense Costs cover any cost incurred in defending any claim brought by a government agency or licensing or regulatory organization.
  • Defence Costs in advance of the final disposition of any cyber liability claim and within 30 days of receipt of invoice for such costs.
  • Claims definition includes Extradition proceedings.
  • Prior Notice Exclusion: Excludes prior notice of a fact or circumstance that has been accepted by the previous insurer rather than notice given.
  • Full Severability of Exclusions : Knowledge of one Insured Person is not imputed to another and only knowledge possessed by the Chief Executive Officer, Chief Financial Officer or the Chief Operating Officer of the Organization will be imputed to the Organization.
A commercial crime policy typically provides several different types of crime coverage including employee dishonesty, forgery or alteration, computer fraud, funds transfer fraud, money & securities and money orders and counterfeit money.
Every company is susceptible to white collar crime. Initially offences may seem inconsequential, over time however, they multiply and cause significant losses to an organization.
Need for Crime Policy
  • Theft by employees or management includes direct theft of cash or business assets, falsification of claim expenses or payroll fraud.
  • Collusion between employee and a third party receiving bribes or commissions from a supplier for awarding of a contract, failure of an employee to disclose financial interest in a transaction.
  • Computer fraud such as diverting funds from bank accounts, stealing intellectual property, posing as a legitimate business on the Internet and obtaining payment for goods or services.
Coverages:
  • Employee Theft Coverage: Loss of money, securities or other property by theft or forgery by an identifiable employee of the Insured.
  • Premises Coverage: Losses from destruction, disappearance or wrongful abstraction or computer theft of money or securities from the Insured premises by third parties.
  • Transit Coverage: Losses sustained due to the destruction, disappearance or abstraction of money and securities outside the Insured’s premises by a third party, while being conveyed by the Insured, an armoured motor vehicle company or any person authorised by the Insured.
  • Depositors Forgery Coverage: Losses from instruments such as cheques fraudulently drawn on Insured’s accounts by a third party.
  • Computer Fraud Coverage: An extension to cover losses sustained and expenses incurred by an insured due to a computer fraud or violation by a third party.
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IRDA Licence No. 603 | Licence Validity - 12/06/2017 to 11/06/2020