Contractors All Risk Insurance
Erection All Risk Insurance
Industrial All Risk / Property Insurance
Terrorism Insurance
Loss of Production / Generation
Commercial General Liability
Workers Compensation
Commercial Crime Insurance
Marine Transit Insurance
A construction site is susceptible to all sorts of accidents. Losses can mount from pilferage, theft, damage, legal claims and more. This policy provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, damage that happens during a renovation, damage to temporary work erected on-site and physical loss or damage to the contract works, construction plant & equipment or machinery. CAR insurance coverage is common for such construction projects as buildings, water tanks, sewage treatment plans, flyovers and airports.
Typically, both contractor and employer jointly take out CAR insurance policies, with other parties such as financing companies having the option of being named to the policy. Because multiple parties are included in the policy, each can retain the right to file a claim against the insurer, although all parties have the duty of informing the insurer of any injuries and damages that may result in a claim.
Coverages:
Risks often covered under a CAR policy include Fire perils, flood, earthquakes, water damage and mold, construction faults and negligence. They typically do not cover normal wear and tear, willful negligence or poor workmanship.
The policy can also be expanded to cover the following events:
  • Additional custom duty
  • Air freight
  • Damage to surrounding property
  • Debris removal
  • Escalation
  • Loss due to breakage of glass
  • Maintenance visits
  • Provision for escalation
  • Terrorism
  • Architect and Surveyor Fees
  • Third-party liability
Insured’s legal liability for compensation in respect of personal injury or property damage to third parties arising from the contract works is covered
A maintenance period is usually incorporated in most CAR policies and it is normal for the policy to cover this period in addition to the period of construction. The maintenance cover is for loss or damage to the works occurring during the maintenance period stipulated in the provisions of the maintenance clauses in the contract relating to the works.
The cover begins from the start except for items of Construction Plant and the like. These are generally covered only after they have been unloaded at the site. The cover terminates when the completed project is handed over or any completed part is taken over or put into service.
EAR policies are designed to cover the risk of loss arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury (BI) or property damage (PD) arising out of these operations.
Examples of the types of projects for which EAR coverage is typically purchased include power plants, manufacturing and fabrication facilities, water and wastewater treatment facilities, and telecommunications centers (particularly where the erection of signal towers is involved). Some insurers combine EAR and contractors all risks (CAR) coverages into one form. Although these terms are sometimes used interchangeably, there are some substantive differences.
Coverage :
  • Fire, explosion, lightning, aircraft damage
  • Earthquake, Flood, storm, cyclone, landslide and allied perils
  • Riot, strike, malicious act
  • Faults in erections
  • Faulty workmanship,
  • Negligence, lack of skill, lack of experience
  • Excess pressure or vacuum, destruction due to centrifugal force
  • Burglary and theft
  • Human errors, act of negligence
  • Electrical and mechanical breakdown
  • Short circuiting, arcing, excess voltage
  • Collapse, damage due to foreign objects, impact damages
  • Any other sudden, unforeseen, accidental damages not explicitly excluded
EAR insurance cover can be extended to cover the following:
  • Removal of Debris
  • Surrounding property
  • Errors and Omissions
  • Loss minimization expenses
  • Professional Fees
  • Automatic Reinstatement of Sum Insured
  • Expediting Expenses
  • Prevention of Access
  • Offsite storage and fabrication
  • Removal to place of safety
  • Time Adjustment (72 Hours clause)
  • Waiver of subrogation
  • Free issue materials
  • Extended Maintenance etc.
Industrial All Risk Insurance is an exclusion based package policy without any named perils. In this policy specific exclusions are incorporated with reference to the operating perils and properties. That means whatever is not excluded, is covered under this Insurance.
All industrial risks (other than risks ratable under Petrochemical Tariff) having overall Sum Insured of Rs.100 crores and above in one or more locations in India shall be eligible for Industrial All Risks Policy.
Material Damage
  • All Risk cover including Standard Fire & special perils viz Lightning, Explosion, Implosion,
  • Aircraft damage, impact damage, Riot strike & malicious damage, Storm , tempest, flood, inundation, cyclone, typhoon, hurricane, tornado, Subsidence and landslide including rockslide, eakage from automatic sprinkler Installation, Bursting, etc
  • Theft & Burglary
  • Machinery Breakdown ‐ Mechanical and Electrical Breakdown
  • Boiler explosion ‐ Explosion and implosion of boiler and pressure plants, Explosion due to smelt water reaction for waste heat boilers, Flue gas explosion.
  • Electronic equipment insurance – Breakdown and all risk coverage of electronic equipment.
  • Transit risk and loading – unloading risks within the premises
Business Interruption
  • Loss of Profit due to Fire and Allied Perils
Machinery Loss of Profit
  • Loss of Profit or business interruption due to machinery breakdown
  • Advantages of IAR policy
  • Under insurance up to 15% is waived
  • Reduced flat rate is applicable for Machinery breakdown cover
  • Transit risk within the premises is covered
  • Burglary & other accidental damage cover
  • No depreciation is deducted
  • Breakdown of Machinery, Electronic Equipments & explosion risk of Boiler are covered.
  • So there is no need for separate MB, EEI & BPP policy (all insurance companies do not cover EEI)
  • 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.
    Loss in Production cover for windmill / solar power plant is a weather index based product to cover loss in production
    • Due to low/high wind speed in windmill
    • Lack of solar irradiation affecting electricity generated of a solar power plant.
    This protection supports the performance of the project at the system level to help sustain its intended revenue stream once that project becomes operational .
    This policy is designed to cover anything from utility-scale solar farms and green fields across India, to portfolios of rooftop installations for commercial and residential builds.
    Coverage:
    • Covers risks that are not related to physical damage, such as the sun not shining, insufficient wind speed and the impact that would have on the performance of the project.
    • Amount by which the actual energy yield for the applicable energy shortfall policy year is less than the insured energy yield projection for that same period times the agreed rate.
    • Protects against a system being installed in a way that was not intended in the design phase and the impact that has on the revenue models.
    • Covers errors in the calculations of the projected yields that were created for projects before they become operational.
    • If the insured energy installation is solar, actual solar radiation that is less than assumed in the target production calculation.
    The insurance payout is triggered if the actual Index is below the declared expected Index. If the insured event triggers, the indemnity is paid as a function of the solar irradiation/ wind speed.
    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.
    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 "
    Marine insurance offers coverage in case of damage or loss of cargo, ships, terminals and any transport by which any property is acquired, transferred or held between the point of origin and its destination. It is an integral part of National / International Trade and is required by Importers, Exporters, Manufacturers, Distributors, Retailers, Wholesalers and others engaged in the movement of goods by sea, air, road, rail and post.
    Marine insurance covers property exposed either onshore/ offshore, marine casualty, marine liability and hull damages.
    Coverage
    • Export/Import – When exporting or importing goods the Institute Cargo Clause (ICC) A, B, or C of Institute of London Underwriters is applicable.
      1. ICC (A) is all risk cover.
      2. ICC (B) is broader cover excluding Malicious Damage, Theft/ Pilferage & War Risks.
      3. ICC (C) covers all risks covered in ICC (B) except for Loss overboard during loading or discharge, washing overboard, seawater entering ship, river water entering ship.
    • Inland – Goods transported to anyplace within India by Rail/ Road are subjected to Inland Transit Clause (ITC) A, B, C.
      1. ITC (A) is an all risk coverage barring exclusions.
      2. ITC (B) covers loss from fire, lightning, breakage of bridges, derailment, accident, etc. barring exclusions.
      3. ITC (C) covers loss due to fire and lightning only.
    Risk Institute Cargo Clauses
    ( Proximate Cause) A B C
    Stranding , Grounding, Sinking or Capsizing Yes Yes Yes
    Overturning or Derailment of Land Conveyance Yes Yes Yes
    Collision of Ship or Craft with another Ship or Craft Yes Yes Yes
    Contact of Ship, Craft or Conveyance with anything other than Yes Yes Yes
    Ship or Craft (excludes Water but not Ice) Yes Yes Yes
    Discharge of Cargo at Port of Distress Yes Yes Yes
    Loss overboard during Loading/Discharge (total loss only). Yes Yes No
    Fire or Explosion Yes Yes Yes
    Malicious Damage Yes No* No*
    Theft/ Pilferage Yes No* No*
    General Average Sacrifice Yes Yes Yes
    Jettison Yes Yes Yes
    Washing Overboard (deck cargo) Yes Yes No*
    War Risks No* No* No*
    Seawater entering Ship, Craft, Hold, Yes Yes No*
    Conveyance Container Lift Van or Place of Storage Yes Yes No*
    River or Lake Water entering same Yes Yes No*
    A construction site is susceptible to all sorts of accidents. Losses can mount from pilferage, theft, damage, legal claims and more. This policy provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, damage that happens during a renovation, damage to temporary work erected on-site and physical loss or damage to the contract works, construction plant & equipment or machinery. CAR insurance coverage is common for such construction projects as buildings, water tanks, sewage treatment plans, flyovers and airports.
    Typically, both contractor and employer jointly take out CAR insurance policies, with other parties such as financing companies having the option of being named to the policy. Because multiple parties are included in the policy, each can retain the right to file a claim against the insurer, although all parties have the duty of informing the insurer of any injuries and damages that may result in a claim.
    Coverages:
    Risks often covered under a CAR policy include Fire perils, flood, earthquakes, water damage and mold, construction faults and negligence. They typically do not cover normal wear and tear, willful negligence or poor workmanship.
    The policy can also be expanded to cover the following events:
    • Additional custom duty
    • Air freight
    • Damage to surrounding property
    • Debris removal
    • Escalation
    • Loss due to breakage of glass
    • Maintenance visits
    • Provision for escalation
    • Terrorism
    • Architect and Surveyor Fees
    • Third-party liability
    Insured’s legal liability for compensation in respect of personal injury or property damage to third parties arising from the contract works is covered
    A maintenance period is usually incorporated in most CAR policies and it is normal for the policy to cover this period in addition to the period of construction. The maintenance cover is for loss or damage to the works occurring during the maintenance period stipulated in the provisions of the maintenance clauses in the contract relating to the works.
    The cover begins from the start except for items of Construction Plant and the like. These are generally covered only after they have been unloaded at the site. The cover terminates when the completed project is handed over or any completed part is taken over or put into service.
    EAR policies are designed to cover the risk of loss arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury (BI) or property damage (PD) arising out of these operations.
    Examples of the types of projects for which EAR coverage is typically purchased include power plants, manufacturing and fabrication facilities, water and wastewater treatment facilities, and telecommunications centers (particularly where the erection of signal towers is involved). Some insurers combine EAR and contractors all risks (CAR) coverages into one form. Although these terms are sometimes used interchangeably, there are some substantive differences.
    Coverage :
    • Fire, explosion, lightning, aircraft damage
    • Earthquake, Flood, storm, cyclone, landslide and allied perils
    • Riot, strike, malicious act
    • Faults in erections
    • Faulty workmanship,
    • Negligence, lack of skill, lack of experience
    • Excess pressure or vacuum, destruction due to centrifugal force
    • Burglary and theft
    • Human errors, act of negligence
    • Electrical and mechanical breakdown
    • Short circuiting, arcing, excess voltage
    • Collapse, damage due to foreign objects, impact damages
    • Any other sudden, unforeseen, accidental damages not explicitly excluded
    EAR insurance cover can be extended to cover the following:
    • Removal of Debris
    • Surrounding property
    • Errors and Omissions
    • Loss minimization expenses
    • Professional Fees
    • Automatic Reinstatement of Sum Insured
    • Expediting Expenses
    • Prevention of Access
    • Offsite storage and fabrication
    • Removal to place of safety
    • Time Adjustment (72 Hours clause)
    • Waiver of subrogation
    • Free issue materials
    • Extended Maintenance etc.
    Industrial All Risk Insurance is an exclusion based package policy without any named perils. In this policy specific exclusions are incorporated with reference to the operating perils and properties. That means whatever is not excluded, is covered under this Insurance.
    All industrial risks (other than risks ratable under Petrochemical Tariff) having overall Sum Insured of Rs.100 crores and above in one or more locations in India shall be eligible for Industrial All Risks Policy.
    Material Damage
    • All Risk cover including Standard Fire & special perils viz Lightning, Explosion, Implosion,
    • Aircraft damage, impact damage, Riot strike & malicious damage, Storm , tempest, flood, inundation, cyclone, typhoon, hurricane, tornado, Subsidence and landslide including rockslide, eakage from automatic sprinkler Installation, Bursting, etc
    • Theft & Burglary
    • Machinery Breakdown ‐ Mechanical and Electrical Breakdown
    • Boiler explosion ‐ Explosion and implosion of boiler and pressure plants, Explosion due to smelt water reaction for waste heat boilers, Flue gas explosion.
    • Electronic equipment insurance – Breakdown and all risk coverage of electronic equipment.
    • Transit risk and loading – unloading risks within the premises
    Business Interruption
    • Loss of Profit due to Fire and Allied Perils
    Machinery Loss of Profit
  • Loss of Profit or business interruption due to machinery breakdown
  • Advantages of IAR policy
  • Under insurance up to 15% is waived
  • Reduced flat rate is applicable for Machinery breakdown cover
  • Transit risk within the premises is covered
  • Burglary & other accidental damage cover
  • No depreciation is deducted
  • Breakdown of Machinery, Electronic Equipments & explosion risk of Boiler are covered.
  • So there is no need for separate MB, EEI & BPP policy (all insurance companies do not cover EEI)
  • 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.
    Loss in Production cover for windmill / solar power plant is a weather index based product to cover loss in production
    • Due to low/high wind speed in windmill
    • Lack of solar irradiation affecting electricity generated of a solar power plant.
    This protection supports the performance of the project at the system level to help sustain its intended revenue stream once that project becomes operational .
    This policy is designed to cover anything from utility-scale solar farms and green fields across India, to portfolios of rooftop installations for commercial and residential builds.
    Coverage:
    • Covers risks that are not related to physical damage, such as the sun not shining, insufficient wind speed and the impact that would have on the performance of the project.
    • Amount by which the actual energy yield for the applicable energy shortfall policy year is less than the insured energy yield projection for that same period times the agreed rate.
    • Protects against a system being installed in a way that was not intended in the design phase and the impact that has on the revenue models.
    • Covers errors in the calculations of the projected yields that were created for projects before they become operational.
    • If the insured energy installation is solar, actual solar radiation that is less than assumed in the target production calculation.
    The insurance payout is triggered if the actual Index is below the declared expected Index. If the insured event triggers, the indemnity is paid as a function of the solar irradiation/ wind speed.
    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.
    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 "
    Marine insurance offers coverage in case of damage or loss of cargo, ships, terminals and any transport by which any property is acquired, transferred or held between the point of origin and its destination. It is an integral part of National / International Trade and is required by Importers, Exporters, Manufacturers, Distributors, Retailers, Wholesalers and others engaged in the movement of goods by sea, air, road, rail and post.
    Marine insurance covers property exposed either onshore/ offshore, marine casualty, marine liability and hull damages.
    Coverage
    • Export/Import – When exporting or importing goods the Institute Cargo Clause (ICC) A, B, or C of Institute of London Underwriters is applicable.
      1. ICC (A) is all risk cover.
      2. ICC (B) is broader cover excluding Malicious Damage, Theft/ Pilferage & War Risks.
      3. ICC (C) covers all risks covered in ICC (B) except for Loss overboard during loading or discharge, washing overboard, seawater entering ship, river water entering ship.
    • Inland – Goods transported to anyplace within India by Rail/ Road are subjected to Inland Transit Clause (ITC) A, B, C.
      1. ITC (A) is an all risk coverage barring exclusions.
      2. ITC (B) covers loss from fire, lightning, breakage of bridges, derailment, accident, etc. barring exclusions.
      3. ITC (C) covers loss due to fire and lightning only.
    Risk Institute Cargo Clauses
    ( Proximate Cause) A B C
    Stranding , Grounding, Sinking or Capsizing Yes Yes Yes
    Overturning or Derailment of Land Conveyance Yes Yes Yes
    Collision of Ship or Craft with another Ship or Craft Yes Yes Yes
    Contact of Ship, Craft or Conveyance with anything other than Yes Yes Yes
    Ship or Craft (excludes Water but not Ice) Yes Yes Yes
    Discharge of Cargo at Port of Distress Yes Yes Yes
    Loss overboard during Loading/Discharge (total loss only). Yes Yes No
    Fire or Explosion Yes Yes Yes
    Malicious Damage Yes No* No*
    Theft/ Pilferage Yes No* No*
    General Average Sacrifice Yes Yes Yes
    Jettison Yes Yes Yes
    Washing Overboard (deck cargo) Yes Yes No*
    War Risks No* No* No*
    Seawater entering Ship, Craft, Hold, Yes Yes No*
    Conveyance Container Lift Van or Place of Storage Yes Yes No*
    River or Lake Water entering same Yes Yes No*
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