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.
The New India Assurance Company is India’s leading Government Owned General Insurance Company with a presence in 25 Countries. Established in 1919, New India provides insurance solutions for businesses, individuals and familites.
Retroactive Date in Liability Insurance is the earliest date from which your Liability Insurance Policy will cover Insurance Claims arising under the Policy. A Liability Insurance Policy will not provide any Insurance Coverage for Claim Incidents occurring prior to Retroactive Date.
Additional Insured is an Endorsement in Liability Insurance which extends coverage under the Insurance Policy to persons other than the Insured Party. The entity named as an Additional Insured can avail coverage under the Liability Insurance Policy and can also file a Claim with the Insurance Company under the Policy if they are sued.
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.
Reinstatement Value Clause in Fire Insurance Policy is a method of insuring assets at their Reinstatement Cost rather than their Depreciated Value. In case of a Fire Claim, the Policy will pay for replacement of damaged asset with a new asset.
A Daycare Procedure in a Group Medical Insurance Policy is defined as any medical treatment, and/or surgical procedure which is undertaken under General or Local Anesthesia in a hospitalin less than 24 hrs because of technological advancement, and which would have otherwise required hospitalization of more than 24 hours. Treatment normally taken on an out-patient basis is not included in the scope of Daycare Procedure.
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.