Dec 23, 2024
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Marine Insurance
A Marine Insurance Policy reimburses the Insured Party for the loss or damage to the Insured Cargo whilst in transit. Learn the various principles of Marine Insurance
Continue reading...Dec 5, 2024
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General
Insurance Premium is the amount of money that the an Individual or a Business pays to purchase an Insurance Policy and obtain Insurance Coverage. Learn how Insurance Premium Works, what factors impact premiums, how to reduce Premiums.
Continue reading...Dec 5, 2024
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General
Moral Hazard refers to a situation where the Policyholder takes bigger risks than he normally would, simply because the Policyholder is insured and knows that the Insurance Company would reimburse the losses in case of a Claim.
Continue reading...Oct 24, 2024
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Health Insurance
Discover the key differences between cashless and reimbursement claims in health insurance. Learn how each process works, their benefits, and which is more convenient for policyholders when managing medical expenses.
Continue reading...Oct 2, 2024
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General
A Commercial General Liability Insurance Policy excludes claims on account Faulty Work, Contractual Liabilities, Electronic Data Claims or Product Guarantees. This article discusses the exclusions of a Commercial General Liability Insurance Policy in detail.
Continue reading...Sep 26, 2024
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Health Insurance
A Top-Up Health Insurance Policy provides coverage once the medical expenses exceed the deductible on a per hospitalisation basis while a Super Top-Up Health Insurance Policy reimburses the Insured once the aggregate of all Hospitalisation Expenses during the Policy Year exceed the Deductible Amount.
Continue reading...Sep 24, 2024
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General
GIPSA stands for General Insurance Public Sector Association, GIPSA is an association of four Public Sector Health Insurance Companies. GIPSA has negotiated a standard tariff structure with the hospitals for commonly occurring ailments such as kidney stones, cataracts, angioplasty, appendicitis, knee replacement, kidney transplant, thus lowering the Health Insurance Premiums for Policyholders.
Continue reading...Sep 23, 2024
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General
The biggest Benefit of Group Term Life Insurance Policy is that the Premiums of Group Term Plans are significantly lesser than Individual Term Insurance Policy. Also, the Policy does not require the Insured to undergo any medical tests.
Continue reading...Sep 23, 2024
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General
The Claims Process in a Group Personal Accident Insurance Policy includes notifying the Insurance Company and claiming the Compensation Amount for Accidental Death or Disability by submitting the required documents and proofs. The Group Personal Accident Insurance Policy compensates the Insured Accidental Death or Disablement.
Continue reading...Sep 23, 2024
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General
Domiciliary Hospitalisation Cover in a Group Health Insurance Policy is defined as medical treatment for an illness/disease/injury which in the normal course would require care and treatment at a hospital but is actually taken while confined at home because the condition of the patient is such that he is not in a condition to be moved to a hospital or because of non-availability of room in a hospital. Domiciliary Hospitalisation means that the Insured Patient is availing medical treatment at home and the Group Health Insurance Policy pays for such home treatment expenses.
Continue reading...Sep 23, 2024
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General
The biggest advantage of Group Health Insurance Policy is that there is no Waiting Period for Pre-Existing Diseases and Maternity Benefits. Additionally, the Premiums for a Group Health Insurance Policy are lesser than Premiums for an Individual Health Insurance Policy.
Continue reading...Sep 23, 2024
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General
A Trade Credit Insurance Policy excludes losses on account of Disputes with the Buyer, Sales to Government Agencies and sales to private individuals. This article discusses the exclusions of a Trade Credit Insurance Policy in detail.
Continue reading...Sep 22, 2024
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General
A Commercial General Liability Insurance Policy with a Limit of Liability of Rs15 Crores costs Rs1.5 lakhs to Rs2 lakhs. However, the premiums vary on factors like Limits of Liability, Nature of Industry, Prior Claims Experience etc.
Continue reading...Sep 22, 2024
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General
A D&O Liability Insurance Policy with a Limit of Liability of Rs10 Crore with a worldwide territory and jurisdiction exposure and a deductible of Rs2 lakhs costs around Rs1.5 lakhs annually in India. The Premiums depend on factors like Limit of Liability, Industry, Policy Coverages, Deductibles, Prior Claims Experience etc.
Continue reading...Sep 22, 2024
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General
A Cyber Insurance Policy covers losses and liabilities arising from Cyberattacks such as Data Restoration Costs, Forensic Costs, Defence Costs from Lawsuits, Credit Monitoring Costs and Customer Notification Costs etc.
Continue reading...Sep 22, 2024
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Liability Insurance
Property Damage in Liability Insurance is defined as physical loss, destruction of or damage to tangible property, including loss of use from such physical loss, destruction or damage or loss of use of tangible property which has not been physically lost, destroyed or damaged.
Continue reading...Sep 22, 2024
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General
A Cyber Insurance Policy with a Sum Insured of Rs1 Crore with a worldwide territory and jurisdiction exposure and a deductible of Rs10 lakhs costs around Rs2 lakhs annually in India. Cyber Insurance Premiums depend on factors like Limit of Liability, Industry, nature of Data handled by the Company, Number of Employees etc.
Continue reading...Jul 30, 2024
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General
Principle of Uberrimae Fidei, a Latin Phrase meaning Principle of Utmost Good Faith is one of the fundamental principles of Insurance which states that both parties to an Insurance Contract, that is, the Insured and Insurance Company, should act in Good Faith towards one another.
Continue reading...Jun 11, 2024
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General
What is Room Rent Capping in Group Health Insurance Policy? Room Rent Capping in a Group Health Insurance Plan is a limit on the cost of the hospital room that will be borne by the Insurance Company. Room Rent Limits are generally specified as a percentage of Sum Insured and are applicable on a per day basis. The Room Rent Limit in a Group Health Insurance Policy can be different for Normal and ICU Rooms as well.
Continue reading...Jun 11, 2024
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General
Grace Period in Insurance means the specified period of time immediately following the premium due date during which a payment can be made to renew or continue an Insurance Policy in force without loss of Policy Benefits. Grace Period is the additional time given to Policyholders after the due date to pay their premiums and continue their Policy Benefits.
Continue reading...Jun 11, 2024
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General
Insurance Underwriting is the process of evaluating the risks, determining appropriate coverage and premium for an Insurance Policy. The Underwriting Process is a key function in Insurance which determines the rates that will be charged for the Insurance Policy as well as whether the risk will be accepted or not.
Continue reading...Jun 11, 2024
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Liability Insurance
Legal Liability in Liability Insurance means when the Policyholder is responsible for the loss of another and is obliged to provide compensation for the loss. The Policyholder becomes “legally liable” to pay for the losses of the party who has suffered the loss.
Continue reading...Jun 11, 2024
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Liability Insurance
Vicarious Liability in Insurance refers to situations where the Insured Company is held legally liable for actions or omissions of another party. The Company could be held vicariously liable for the actions of your Employees, Contractors etc.
Continue reading...May 31, 2024
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Liability Insurance
Compensatory Damages are the financial compensation that the Insured pays to the victim who was harmed as a result of the Insured's actions. Compensatory Damages are awarded by a Civil Court when a negligence of one party has harmed another.
Continue reading...May 31, 2024
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General
Free Look Period in Insurance is the time period within which the Policyholder can cancel his Insurance Policy and receive the full Premium refund. Free Look Period is the time given to the Policyholder to review the Policy terms and conditions.
Continue reading...May 31, 2024
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General
“Peril” in Insurance refers to an event or hazard that causes loss or damage. Peril is a cause of loss cover by an Insurance Policy and anything that causes a loss is a Peril. Perils vary according to the Insurance Policy, which are specified in the Policy Wordings.
Continue reading...May 31, 2024
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General
The Claim Settlement Amount to be paid as Compensation to the employee under Workmen’s Compensation Insurance Policy depends on Age of the Workmen, Nature of Injury – Death, Permanent Disability or Temporary Disability and Average Monthly Salary of the Workmen.
Continue reading...May 30, 2024
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Liability Insurance
Bodily Injury in Insurance is defined as bodily injury, sickness or disease sustained by a Third Party, including death resulting from either the Insured’s business operations or as a consequence of consuming the Insured Company’s products.
Continue reading...May 30, 2024
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Commercial General Liability Insurance Policy
“Care Custody and Control” Endorsement in a CGL Policy extends the coverage for Bodily Injury and Property Damage Claims to Third-Party Property which is damaged while in the Care, Custody or Control of the Insured..
Continue reading...May 30, 2024
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General
A Group Health Insurance Policy provides cover for Pre-Existing Diseases without any Waiting Period. A Pre-Existing Disease means any condition, ailment or injury or disease diagnosed by the physician within 48 months prior to the effective date of the policy issued by insurer or its reinstatement.
Continue reading...May 30, 2024
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Marine Insurance
Incoterms stand for International Commercial Terms. Incoterms are standard terms of an international trade contract which determine the costs, responsibilities and risks of the buyer and the seller in an International Transaction. Incoterms also determine whether the buyer or the seller should purchase Insurance.
Continue reading...May 28, 2024
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General
A Cyber Liability Insurance Policy excludes losses on account of known circumstances, Infrastructure failure, Data Protection Compliance Gaps or Inadequate System Security. This article discusses the exclusions of a Cyber Insurance Policy in detail.
Continue reading...May 28, 2024
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General
An important feature of Group Health Insurance Policy is coverage for Congenital Diseases. This article will explain the coverage for Congenital Diseases in a Group Health Insurance Policy for employees. What are Congenital Diseases? Congenital Diseases are diseases that exist since the time of birth. A Congenital Disorder or a Congenital Disease is a birth defect caused by genetic or environmental factors. There are 2 types of Congenital Diseases: Internal Congenital Diseases and External Congenital Diseases.
Continue reading...May 28, 2024
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General
The Claims Process in a Fire Insurance Policy includes notifying the Insurance Company, estimating the losses, submitting the Fire Insurance Claim Form along with the other required documents and proofs. The Fire Insurance Policy compensates the Insured for losses in case of an admissible claim.
Continue reading...May 28, 2024
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General
What is Waiting Period in Group Health Insurance Policy? Waiting Period in Group Health Insurance Policy is the time period that the Insured Person needs to wait before the GMC Policy pays claim for that specific purpose. For example: If a Health Insurance Policy has a Waiting Period of 4 years for Pre-Existing Diseases, this means that the Health Insurance Policy will not pay for any claims arising out of Pre-Existing Diseases for the first 4 years.
Continue reading...Liability Insurances Qian Insurance Broking LLP offers are listed below.
The Commercial Insurances Qian Insurance Broking LLP offers are listed below.
The Professional Insurances Qian Insurance Broking LLP offers are listed below.
The Marine Insurances Qian Insurance Broking LLP offers are listed below.
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