An Insurance Broker is an intermediary between the Insurance Company and the Policyholder. Insurance Brokers assist clients in crafting comprehensive insurance solutions to secure the Policyholder from the various risks they are exposed to.
Insurance Ombudsman is a grievance redressal platform of Government of India to address grievances raised by Insurance Policyholders.
Export Credit Insurance of India, also known as ECGC, provides a range of credit insurance policies for exporters. These Credit Insurance Policies provide protection against the risk of unpaid invoices.
Principle of Contribution in Insurance states that when there are multiple insurance policies insuring the same asset, the insurance companies would pay a Pro-Rata proportion of the loss in case of an Insurance Claim.
An Insurance Endorsement is a legally binding document which allows you to make changes to an existing Insurance Policy. An Endorsement is issued to correct gaps or mistakes in Insurance Coverage.
Principle of Indemnity in Insurance states that Insurance should restore the Insured in the same financial position as he was in before the loss to the same financial position after the loss. It also states that the Insured should not make profit out of the Insurance Policy
An Insurance Claim is a formal request by the Insured for Compensation from a Covered Loss under the Insurance Policy
An Insurance Policy is a legal contract between the Insurance Company and the Policyholder which specifies the terms and conditions of the Insurance Contract.
Insurance is defined as the process of transferring risk by the owner of the asset to the Insurance Company in return for an Insurance Premium.
What Is the Importance of a Building Insurance Policy? Building Insurance is essentially a property insurance policy that provides reimbursement if the building suffers from any damage due to fire, theft, or other natural calamities. A Building Insurance Policy is usually purchased by a Housing Society and hence it is also known as a Housing Society […]