ICICI Lombard General Insurance: Policies, Quotes, Claims, Features

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ICICI Lombard General Insurance Company was Incorporated in 2001 and was India’s first Private Sector General Insurance Company. Within a span of two decades, ICICI Lombard has established itself as the market leader in the General Insurance Space.

ICICI Lombard General Insurance Company

About ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company Ltd is India’s leading General Insurance Company. Incorporated in 2001, it was the first Private Sector General Insurance Company to be licensed in India. Within a span of two decades, ICICI Lombard has established itself as the market leader in the General Insurance Space.

ICICI Lombard General Insurance Company issued over 32.7 million Insurance Policies, settled 3.6 million Insurance Claims and reported a Gross Written Premium (GWP) of Rs21,772 Crores for the year ended March 31, 2023. The Company has a network of 305 branches and 14,417 employees, as on March 31, 2023. ICICI Lombard has 13,134 garages and 25,136 network hospitals in its network.

ICICI Lombard General Insurance Company offers a wide range of general insurance products, including Personal Accident Insurance, Health Insurance, Travel Insurance, and Motor insurance. In the corporate space, the company provides a wide range of Insurances such as Marine Insurance, Liability Insurance, Workmen’s Compensation Insurance, Fire Insurance Policy, Group Health Insurance Policy amongst others. History of ICICI Lombard General Insurance Company Ltd

ICICI Lombard General Insurance Company Limited was established as a joint venture between ICICI Bank and Fairfax Financial Holdings in 2001. Today, the Company is the largest private sector General Insurer in India. While ICICI Bank initially held a majority 64% stake, Fairfax Financial owned 36% of the joint venture. Over the years, Fairfax divested part of its stake in ICICI Lombard through share sales. In 2016, ICICI Bank sold 9% of its stake to Fairfax at a company valuation of Rs172.25 billion. Later in 2019, Fairfax exited ICICI Lombard completely by selling its remaining shares.

ICICI Lombard expanded its distribution network by partnering with Karur Vysya Bank in 2019 for bank assurance. Further strengthening its market leadership, ICICI Lombard acquired Bharti AXA General Insurance Company in 2020 through a share swap deal. With 305 branches and 840 virtual offices across India, the company has seen tremendous growth in the last two decades to emerge as the country’s number one private general insurer.

ICICI Lombard General Insurance Company Ltd: An Overview

Features Value
Year Founded 2001
Founder Joint Venture between ICICI bank and Fairfax Financial Holdings
Headquarters Mumbai
Network 305 Branches and 917 Virtual Offices
Authorized Capital Rs550 Crores
Paid Up Capital Rs491 Crores
Awards Won (2022 - 2023) 1. Assocham 14th Global Insurance Awards in ‘Highest Growth GI’ Category 2. Finnoviti Awards 2022 for our Face Scan feature of IL TakeCare App 3. Golden Peacock National Training Awards 2023
Gross Written Premium - FY23 Rs.21,772 Crores
Incurred Claim Ratio - FY23 72.36%
Network Hospitals 25,136
Network Garages 13,134
Market Position in India Second

What are the Facts about ICICI Lombard General Insurance Company Ltd?

  1. Leading Private Sector General Insurance Company in India with 8.2% market share on GDPI basis
  2. Has approximately 113,000 individual agents and 175 corporate agents
  3. Company has a network of 305 Branches and 917 virtual offices spread across India.
  4. Settled over 3.6 million claims and issued 32.7 million policies.
  5. Robust financial performance with Gross Written Premium of Rs21,772 Crores in FY23.
  6. First private insurer to launch initiatives like Motor Floater Policy, Weather Insurance and Mobile Insurance.
  7. Launch of IL TakeCare app featuring innovations like face scan for Claims has garnered huge support with 4.6 million+ downloads

what are Insurance Policies Offered by ICICI Lombard General Insurance Company Ltd?

ICICI Lombard General Insurance Company offers a wide range of Insurance Policies like Group Health Insurance, Group Personal Accident Insurance, Cyber Insurance Policy, Commercial General Liability Insurance Policy, Trade Credit Insurance, Fire Insurance Policy, Motor Insurance, Health Insurance, Marine Insurance Policy, Workmen’s Compensation Insurance, Engineering Insurance etc.

What are ICICI Lombard Business Insurance Plans?

ICICI Lombard General Insurance Company offers customized Insurance Policies for Large Corporates, MSMEs and Startups including Marine Insurance Policy, Fire Insurance Policy, Commercial General Liability Insurance Policy, Group Health Insurance Policy, Workmen’s Compensation Insurance, Professional Indemnity Insurance Policy, Cyber Insurance Policy, etc.

This article explores different types of Business Insurances offered by ICICI Lombard General Insurance Company.

What are Employee Benefit Insurance offered by ICICI Lombard General Insurance Company Ltd?

ICICI Lombard Group Health Insurance Policy

ICICI Lombard Group Health Insurance Policy provides comprehensive coverage for hospitalization expenses of employees and their families under a single Policy. The Policy Features can be customised to suit businesses of all sizes - from Small & Medium Enterprises to Large Organizations.

What are the Key Features of ICICI Lombard Group Health Insurance Policy?

  1. The Policy provides comprehensive Health Insurance Coverage for employees including Hospitalization Expenses, Pre and Post-Hospitalization Expenses, Daycare Procedures, Ambulance Charges etc.
  2. The Policy provides coverage for Employee, Spouse, Dependent Children and Dependent Parents.
  3. Provides Cover for Pre-Existing Diseases from Day 1
  4. Provides Maternity Coverage without any Waiting Period
  5. Provides Cashless Claims Settlement Facility at over 9,500 networked hospitals across India.
ICICI Lombard Group Personal Accident Insurance Policy

ICICI Lombard Group Personal Accident Insurance Policy (GPA Policy) provides cover to employees against Accidental Disablement or Death.

What are the Key Features of ICICI Lombard Group Personal Accident Insurance Policy?

  1. Covers Accidental Death, Permanent Total/Partial Disablement, Temporary Total Disablement of employees.
  2. The Policy pays a lumpsum amount to the Insured depending on Accidental Death or Type of Disability as per Policy Terms and Conditions.
  3. Policy provides cover for hospitalisation expenses incurred because of an accident
  4. Add-Ons like Child Education Grant, Loss of Job, OPD Expenses etc. can be opted for to enhance coverage.
  5. Cashless Claims Settlement facility available for Hospitalization Claims.
What is ICICI Lombard Workmen’s Compensation Insurance Policy?

ICICI Lombard Workmen’s Compensation Insurance Policy covers the legal liability of an employer to pay compensation to the employee or their family members in case of accidental death or disablement of the employees in the course of their employment. The Insurance policy covers the Legal Liability of the Employers under the Workmen’s Compensation Act 1923 (and subsequent Amendment’s) and Fatal Accident Act 1855.

What are the Key Features of ICICI Lombard Workmen Compensation Insurance Policy?

  1. ICICI Lombard WC Policy covers Accidental Death, Permanent (Total and Partial) Disablement and Temporary Disablement of employees in the course of their employment
  2. Add-ons like Medical Expenses, Compressed Air Disease, Occupational Disease and Sub-Contractor Coverage etc. can be chosen to enhance coverage
  3. Online purchase facility available with instant policy issuance.

Fire Insurance Policies offered by ICICI Lombard General Insurance Company Ltd

ICICI Lombard Standard Fire and Special Perils Insurance Policy

ICICI Lombard General Insurance Company offers a Standard Fire and Special Perils Insurance Policy which provides comprehensive coverage against loss or damage to Insured Property caused by Fire and Allied Perils. This Policy is designed for Factories and Commercial Establishments to cover their Building, Plants & Machinery, Inventory Stocks etc. against losses due to Perils like Fire.

Key Features of ICICI Lombard Standard Fire and Special Perils Insurance Policy

  1. ICICI Lombard SFSP Policy covers damage to property due to Fire and Allied Perils like Lightning, Explosion, Implosion, Aircraft Damage, Riots etc.
  2. Option to add covers like Earthquake, Storm Typhoon, Hurricane, Tornado, Flood, and Inundation (STFI Cover), Terrorism etc.
  3. Insured can opt for Reinstatement Value or Market Value basis for cover.
  4. Premium calculated based on Nature of Industry, Prior Claims Experience, Fire Safety Devices installed etc.
ICICI Lombard Bharat Sookshma Udyam Suraksha Policy

ICICI Lombard Bharat Sookshma Udyam Suraksha Policy is a Fire Insurance Policy designed specifically for MSMEs and small businesses. The Policy provides Insurance against Loss or Damage to property due to Fire and allied Perils for enterprises where the Total Value at Risk across all insurable Asset Classes at one location does not exceed Rs5 crores.

Key Features of ICICI Lombard Bharat Sookshma Udyam Suraksha Policy

  1. Provides Cover to Offices, Hotels, Shops, Warehouses and other small business properties.
  2. Provides Insurance against Fire, Explosion, Lightning, Earthquake, Flood, Storm and other perils.
  3. Provides cover on Reinstatement Value basis for Building, Plant, Machinery, and Other Fixed Assets etc.
  4. Has in-built covers like Debris Removal, Architect Fees, etc.
  5. Option to customize with add-ons like Terrorism, Loss of Rent etc.
ICICI Lombard Bharat Laghu Udyam Suraksha Policy

ICICI Lombard offers Bharat Laghu Udyam Suraksha Policy, which is a Fire Insurance Policy designed specifically for Small and Medium Enterprises (SMEs). The Insurance Policy provides coverage against Loss or Damage to property due to Fire and allied Perils for commercial establishments where the Total Value at Risk across all insurable asset classes at one location exceeds Rs5 Crore but does not exceed Rs50 Crore

Key Features of ICICI Lombard Bharat Laghu Udyam Suraksha Policy

  1. Covers Small and Medium business properties like Factories, Warehouses, etc.
  2. Provides Insurance against Fire, Explosion, Lightning, Earthquake, Flood, Storm and other Perils.
  3. Provides cover on Reinstatement Value Basis for Building, Plant, Machinery and other Fixed Assets etc.
  4. Has in-built covers like Debris Removal, Architect Fees, etc.
  5. Settlement of claims up to Rs 5 lakhs within 10 days for MSME policyholders.
  6. Option to customize coverage with add-ons like Terrorism, Loss of Rent etc.
  7. Availability of Floater cover and Declaration Policy for greater flexibility.
ICICI Lombard Bharat Griha Raksha Policy

ICICI Lombard Bharat Griha Raksha Policy is an Insurance Policy designed specifically for Housing Societies and Residences to cover their building structure and contents against Fire and allied Perils. The Policy provides protection against Loss or Damage to the insured property due to causes like Fire, Explosion, Lightning, Earthquake, Flood, Storm etc.

Key Features of ICICI Lombard Bharat Griha Raksha Policy

  1. Covers building structure and contents like furniture, electronics, valuables etc. of housing societies.
  2. Provides cover on Reinstatement Value Basis
  3. Multi Year Policy Duration from 1 Year to 10 Years
  4. Underinsurance does not apply to the ICICI Lombard Bharat Griha Raksha Policy.
  5. Option to customise coverage with various add-on Covers such as valuable contents cover, personal accident cover.

Liability Insurance Policies offered by ICICI Lombard General Insurance Company Ltd

ICICI Lombard Cyber Insurance Policy

ICICI Lombard Corporate Cyber Insurance Policy provides comprehensive coverage for losses and liability arising out of a Cyber Security Breach of a Company’s network systems. This Cyber Insurance Policy is critical for organizations today given the rising threats of Cyberattacks that can cause major Financial Losses and Reputational Damage.

Key Features of ICICI Lombard Cyber Insurance Policy

  1. The Cyber Insurance Policy covers losses and business liability arising from a Cyber Security Breach including Data Theft, Ransomware etc.
  2. The policy covers expenses related to Forensics, Ransom Payments, Business Interruption Expenses post an attack. This improves the insured’s mean-time to respond.
  3. The Policy provides cover for the following:
    • Individual Security & Privacy Liability: The Policy pays the Loss arising out of a Security Breach and/or Privacy Breach by the Insured.
    • Corporate Security Liability: The Policy pays the Loss arising out of a Security Breach by the Insured that results in Unauthorized Disclosure of Corporate Information
    • Multimedia Liability: Covers losses arising from Multimedia Activities of the Insured that results in Defamation, Breach of Privacy, Copyright Infringement etc.
  4. Major Exclusions are Bodily Injury, Property Damage, insolvency of Insured and Anti-Trust Acts.
ICICI Lombard Directors and Officers Liability Insurance Policy

ICICI Lombard Directors and Officers Liability Insurance Policy provides comprehensive protection to directors, officers and employees against the Legal Liability arising from Claims alleging Wrongful Acts. A Wrongful Act is defined as any actual or alleged Act, Error, Omission, Breach of Duty, Breach of Trust, Breach of Warranty of Authority, Misstatement or Misleading Statement.

Key Features of ICICI Lombard D&O Liability Insurance Policy

  1. The D&O Liability Insurance Policy provides coverage for Defence Costs and Compensatory Damages.
  2. Policy provides cover for Non-Executive Directors, Retired Directors and Outside Entity Directors
  3. Policy provides cover for Securities Claims and Employment Practices Liability Claims
  4. Major Exclusions are Bodily Injury, Property Damage, Fraud, Insured vs Insured Claims, and Prior Acts
  5. Retroactive Date Cover - The Policy provides coverage for Claims resulting from all incidents that occur after the Retroactive Date
ICICI Lombard Commercial General Liability Insurance Policy

ICICI Lombard Commercial General Liability Insurance Policy provides coverage against the Legal Liability of the Insured arising due to Third Party Bodily Injury or Property Damage caused by the Insured’s Business Operations, Products or Injuries that occur within the Insured’s Business Premises.

Key Features of ICICI Lombard Commercial General Liability Insurance Policy

  1. The CGL Policy provides Worldwide Cover
  2. Policy includes Coverage for “Personal and Advertising Injury” which involves claims alleging Libel, Slander, Defamation, Copyright Infringement, and similar offenses
  3. The Commercial General Liability Insurance Policy is available as a Claims Made Policy as well as a Occurrence Based Policy
  4. ICICI CGL Insurance Policy provides add-on covers like Care, Custody and Control of third party’s personal property, Terrorism Liability, Product Recall, Guarantee & Financial Loss etc. to enhance Policy Coverage
  5. Major exclusions are Fraud and Dishonesty and Product Inefficacy
ICICI Lombard Professional Indemnity Policy for Doctors & Medical Practitioners

ICICI Lombard General Insurance Company offers Professional Indemnity Policy for Doctors & Medical Practitioners that provides robust coverage against Claims arising out of arising out of Bodily Injury or Death caused by error, omission, negligence.

Key Features of ICICI Lombard Professional Indemnity Insurance Policy for Doctors

  1. The Insurance Policy covers the Legal liability including Defense Costs incurred while investigation, cost of representation, compensation etc.
  2. Doctors, Nurses and Technicians employed by the Doctor can be covered under the Policy
  3. Policy provides add-on covers like Breach of Confidentiality or Loss of Third-Party Documents to enhance Policy Coverage

Marine Insurance Policies offered by ICICI Lombard General Insurance Company

ICICI Lombard Specific Voyage Marine Insurance Policy

ICICI Lombard offers Specific Voyage Marine Insurance Policy to provide comprehensive coverage for a single transit. It is suitable for businesses which do not ship goods frequently. The Policy covers Goods in Transit by Road, Rail, Air or Waterways within India and for exports and imports.

Key Features of ICICI Lombard Specific Voyage Marine Insurance Policy

  1. Covers perils like Fire, Collision, Theft, Damage During Loading/Unloading etc.
  2. Covers a Single Transit
  3. Customizable with add-on covers like War, SRCC etc.
ICICI Lombard Marine Open Insurance Policy

ICICI Lombard’s Marine Open Policy provides comprehensive coverage for multiple cargo shipments under a single policy. It is ideal for businesses with regular import, export or domestic cargo movements.

Key Features of ICICI Lombard Marine Open Insurance Policy

  1. Marine Open Policy is an annual policy which covers all shipments throughout the year; There is no need to issue a separate policy for each and every transit
  2. A Single Policy insures a single leg of transit, i.e. Exports, Imports, Domestic Sales, Purchases etc
  3. Insured has to make periodic declaration of transits taking place to the Insurance Company
  4. Covers loss due to Fire, Collision, Theft, etc.
  5. Certificates are issued under the Marine Open Policy for Individual Transits
  6. The Sum Insured under the Marine Open Policy can be enhanced during the duration of the Policy
ICICI Lombard Marine Sales Turnover Policy

The Marine Sales Turnover Policy offered by ICICI Lombard covers all the transits, such as Export Sales, Domestic Sales, Imports, Local Purchases, Inter-Factory Movements, Job Worker Movements, Capital Equipment and Container Movements under a Single Policy. The Insured does not need to make declarations of transit as it is done in a Marine Open Policy, rather he has to just declare the Sales Turnover Figures on a Periodic Basis under the STOP Policy.

Key Features of ICICI Lombard Sales Turnover Marine Insurance Policy

  1. Sum Insured under the Sales Turnover Policy is determined on the Insured’s estimated sales for the current year.
  2. Covers perils like Fire, Collision, Theft, Damage during transit
  3. Add-ons available for Strikes, Riots etc.
  4. No need for individual declarations per shipment
  5. All Risk or Basic Risk coverage as per Institute Cargo Clauses

Engineering Insurance Policies offered by ICICI Lombard General Insurance Company

ICICI Lombard Contractors All Risk Insurance Policy

ICICI Lombard’s Contractors All Risk Insurance Policy is an All-Risk Policy which provides comprehensive coverage for damage caused by accidents to civil projects during the construction phase. The Policy provides coverage for Perils such as Fire, Lightning, Riots, Strikes, Theft, Burglary etc.

Key Features of ICICI Lombard Contractors All Risk Insurance Policy (CAR Insurance) ICICI Lombard CAR Insurance Policy provides coverage under 2 sections

  1. Material Damage Section: The Material Damage Section of the CAR Insurance Policy covers Physical Damage to the Property under construction, protecting against Perils such as Fire, Lightning, Theft, and Burglary.
  2. Third-Party Liability Section: The Third-Party Liability Section of the ICICI Lombard Contractors All Risk Insurance Policy provides coverage for the legal liability of the contractor for bodily injury or property damage caused to third parties because of work conducted on the site.
  3. The Policy commences from the arrival of the first consignment at site and ends on successful commissioning of the project or expiry of the policy period, whichever is earlier
  4. The Policy can be extended to include the interest of Principal, Contractors and Subcontractors.
  5. Add-On Covers available to provide coverage for Act of God Perils (AOG Perils) such as Earthquake, Storms, Tempest, Floods, Inundation, etc.
ICICI Lombard Erection All Risk Insurance Policy

ICICI Lombard’s Erection All Risk Insurance Policy provides comprehensive coverage for Erection of Plant, Machinery, Equipment and Structures. The Policy provides coverage during the storage, erection, installation and testing phase of a project.

Key Features of ICICI Lombard Erection All Risk Insurance Policy (EAR Insurance Policy)

  1. Material Damage Section: The Material Damage Section of an EAR Insurance Policy provides coverage against the following risks:
    • Location Risks: Fire, Lightning, Theft and Burglary
    • Operation Risks: Insulation Failures, Short Circuit, Explosions etc.
    • Human Risks: Negligence, Carelessness
    • Natural Calamities: Storm, Floods, Earthquakes etc.
  2. Third-Party Liability Section: The Third-Party Liability Section of the ICICI Lombard Erection All Risk Insurance Policy provides coverage for the legal liability of the contractor for bodily injury or property damage caused to third parties because of work conducted on the site.

ICICI Lombard Trade Credit Insurance Policy

ICICI Lombard General Insurance Company offers a Trade Credit Insurance Policy (Globalliance) for companies which are selling goods and/or services on credit to buyers. The Policy provides Insurance against the Risk that the Company’s Customer fails to pay for the Goods or Services that he has received. It is an efficient way of securing oneself from the risk of unpaid invoices.

Key Features of ICICI Lombard Trade Credit Insurance Policy

  1. Policy provides cover against commercial risks like Non-Payment by the Buyer and Insolvency of the Buyer
  2. Covers Political Risks like Moratorium on Payment, Cancellation of Import License, Political events, legislative or administrative measures preventing payment
  3. Insures up to 90% of credit extended to buyers
  4. Premium based on Annual Credit Sales Turnover and Risk Factors
  5. Exclusions include Trade Disputes, Sales to Individuals, Advance Payments

ICICI Lombard Jewellers Block Insurance Policy

A Jeweller’s Block Insurance Policy is a Comprehensive Package Policy specially designed to cater to the needs of Jewellers and Diamantaires and provides comprehensive coverage for Losses due to Fire within Premises, Theft or Burglary within Premises or Losses which occur when the Jewellery Stock is in Custody of Directors, Employees, Brokers, Sorters etc.

Key Features of ICICI Lombard Jewelers Block Insurance Policy

  1. Policy provides cover against damage to Insured Property on the Business Premises because of Perils like Fire, Theft, Burglary, Earthquakes etc.
  2. Policy also provides cover for Jewellery Stock in Custody of Directors, Partners, Employees or in Custody of Third Parties such as Cutters, Brokers, Agents, Goldsmiths
  3. Additional Covers such as Infidelity of Employees or Third Parties, Coverage for stocks whilst in transit or whilst being displayed at exhibition are also available

ICICI Lombard Event Insurance Policy

An Event Insurance Policy is a comprehensive Insurance Policy providing coverage for various risk exposures associated with organizing an event. The Policy provides reimbursement for Insured Expenses, which are budgeted and declared by the Insured and incurred directly on account of the Insured Event.

Key Features of ICICI Lombard Event Insurance Policy

  1. Wide Range of Events such as Corporate conferences, Weddings, Live concerts, Trade Shows, Sport Events, Award Functions can be covered under ICICI Lombard Event Insurance Policy
  2. Policy provides coverage for Event Cancellation because of Act of God perils, Riots, Strikes, Bandh Call/Curfew, Declared National Mourning and other perils.
  3. The Material Damage Section of the ICICI Lombard Event Insurance Policy provides cover against accidental loss/damage caused to property leased, owned or hired for conducting the event.
  4. Policy also provides cover for Legal Liability towards Third Parties for accidents resulting in Bodily Injury or Damage occurring at the venue of the Insured’s event, in connection with the Insured’s event, during the Policy Period.

ICICI Lombard Personal Insurance Plans

ICICI Lombard General Insurance Company offers various a range of Insurance Policies for Individuals and Families such as Health Insurance, Motor Insurance and Travel Insurance Plans. This article explores different types of Personal Insurances offered by ICICI Lombard General Insurance Company.

Health Insurance Policies offered by ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company offers various health insurance plans depending on the requirements of the Insured. Some of the Health Insurance Plans offered by ICICI Lombard are listed below:

ICICI Lombard Health AdvantEdge Health Insurance Plan

ICICI Lombard’s Health AdvantEdge is a comprehensive Health Insurance Plan providing coverage for Hospitalization Expenses, Daycare Procedures, Pre and Post-Hospitalization Costs, Preventive and wellness benefits etc. The Policy has an option choose between an Individual or Family Floater Health Insurance Policy option and provides various Sum Insured Options ranging from Rs5 lakhs to Rs2 crores. This policy offers comprehensive hospitalization coverage, coverage for Pre- and Post-Hospitalization expenses, Day Care Treatments etc.

Key Features of ICICI Lombard Health AdvantEdge Mediclaim Policy

  1. ICICI Health AdvantEdge Policy provides cover for Hospitalization Expenses including Room Charges, Surgeon Fees, Medicines, etc.
  2. Various Sum Insured Options available up from Rs5 Lakhs to Rs3 Crores
  3. Minimum Entry age of 18 Years
  4. A Family can opt for Family Floater Health Insurance Policy to cover Spouse and Dependent Children
  5. Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
  6. No Room Rent Capping and No Co-Payment
  7. Waiting Period of 24 months for Pre-Existing Diseases
  8. Waiting Period of 24 months for Specific Diseases
  9. Day Care Procedures and Organ Donor Expenses are also covered.
  10. It offers a Guaranteed Cumulative Bonus of 20% (up to 100%) of the Base Sum Insured for every claim-free year.
  11. Maternity Benefits of 10% of Base Sum Insured available on payment of additional premium
  12. Policy provides Worldwide Cover for Sum Insured of Rs25 Lakhs and above for hospitalisation expenses including planned hospitalisation incurred outside India and anywhere across the world including USA and Canada. The Worldwide Cover has a Co-Payment Clause of 10%
  13. Lifelong renewability of the Policy is allowed with no age restriction.
ICICI Lombard Max Protect Health Insurance Plan

ICICI Lombard MaxProtect is a comprehensive Health Insurance Plan providing coverage Hospitalization Expenses, Pre- and Post-Hospitalization Expenses, Daycare Procedures and Worldwide Medical Treatments. The Policy has a minimum entry age of 6 years and maximum entry age of 65 years. Sum Insured Options range from Rs1 Crores to Unlimited Sum Insured.

Key Features of ICICI Lombard Mex Protect Mediclaim Policy

  1. Various Sum Insured Options available up from Rs1 Crores to Unlimited Sum Insured
  2. Minimum Entry age of 6 Years
  3. A Family can opt for Family Floater Health Insurance Policy to cover Spouse and Dependent Children
  4. ICICI Max Protect Health Insurance Policy provides cover for Hospitalization Expenses including Room Charges, Surgeon Fees, Medicines, etc.
  5. Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
  6. No Room Rent Capping and No Co-Payment
  7. Policy provides Worldwide Cover for Sum Insured upto Rs3 Crores for hospitalisation expenses including planned hospitalisation incurred outside India and anywhere across the world including USA and Canada. The Worldwide Cover has a Waiting Period of 24 month. Pre- and Post-Hospitalisation Expenses are not covered under Worldwide Cover
  8. Waiting Period of 48 months for Pre-Existing Diseases with an option to reduce Waiting Period for Pre-Existing Diseases to 24 months
  9. Waiting Period of 24 months for Specific Diseases
  10. Waiting Period of 24 months for Worldwide Cover
  11. Day Care Procedures and Organ Donor Expenses are also covered.
  12. ICICI Max Protect Health Insurance Plan offers a Guaranteed Cumulative Bonus of 20% (up to 100%) of the Base Sum Insured for every claim-free year.
  13. The Premiums are applicable under Section 80D Deductions
  14. Lifelong renewability of the policy is allowed with no age restriction.
ICICI Lombard Health Booster Super Top-Up Health Insurance Plan

ICICI Lombard Health Booster is a Super Top-Up Health Insurance Policy that provides additional coverage when your basic Health Insurance Plan falls short and enhances the health insurance coverage at nominal premiums. The minimum entry age for ICICI Lombard Health Booster Super Top-Up Health Insurance Policy is 6 years. There is no Restriction on maximum entry age.

Key Features of ICICI Lombard Health Booster Super Top-Up Health Insurance Plan

  1. ICICI Lombard Health Booster Plan offers various Sum Insured options ranging from Rs 5 lakhs to Rs 50 lakhs with flexible Deductible options of Rs 3 lakhs, Rs 4 lakhs and Rs 5 lakhs. Deductible is the threshold limit above which the Super Top-Up policy pays out the Claim.
  2. The Policy covers hospitalisation expenses without any sublimits
  3. Floater Option available to cover Spouse and Dependent Children
  4. Pre and Post-Hospitalisation Expenses Coverage for 60 days and 90 Days
  5. Waiting Period of 24 months for Pre-Existing Diseases
  6. Waiting Period of 24 months for Specific Diseases
  7. No medical tests are required for Insurance Cover below the age of 46 years and upto Sum Insured of Rs10 Lakhs
  8. Lifelong Renewal and Affordable Premiums
ICICI Lombard Golden Shield Senior Citizen Health Insurance Policy

ICICI Lombard Golden Shield Health Insurance Policy is specially designed Senior Citizen Health Insurance Policy suitable for senior citizens aged 56 years and above. The Lombard Golden Shield Policy provides cover for Hospitalization Expenses due to illness or injury, Day Care Procedures, Pre and Post-Hospitalization Expenses, Ambulance Charges etc. The Golden Shield Policy has a minimum entry age of 56 years.

Key Features of ICICI Lombard Golden Shield Senior Citizen Health Insurance Policy

  1. Various Sum insured Options ranging from Rs5 Lakhs - Rs 50 lakhs available under the Policy
  2. Minimum Entry Age of 56 Years under the Policy
  3. 10% Guaranteed Cumulative Bonus on Base Sum Insured upto a maximum of 100% for every Claim-Free Year
  4. Pre and Post-Hospitalisation Expenses Coverage for 60 days and 180 Days
  5. Policy has a 50% Co-Payment Clause on admissible Claim Amount on each and every Claim
  6. Policy has various Sub-Limits for Cataracts, Cerebrovascular and cardiovascular disorders, Cancer Treatments, Renal complications and disorders, Joint replacements and Robotic Surgery depending on the Sum Insured chosen
  7. Waiting Period of 24 months for Pre-Existing Diseases
  8. Waiting Period of 24 months for Specific Diseases
  9. Policy has a Free Look Period of 15 Days during which the Policy can be cancelled by giving written notice
  10. Lifelong Renewal
ICICI Lombard Arogya Sanjeevani Policy

ICICI Lombard Arogya Sanjeevani Policy is a standard Health Insurance policy which provides coverage for Hospitalisation Expenses, Day Care Procedures, Pre and Post-Hospitalisation Expenses and AYUSH treatment. The Policy has an minimum entry age of 18 years and maximum entry age of 65 years.

Key Features of ICICI Lombard Arogya Sanjeevani Health Insurance Policy

  1. Various Sum Insured Options available Rs50,000 to Rs10 Lakhs
  2. Family Floater Health Insurance Policy is available to cover Spouse, Dependent Children, Dependent Parents and Parents-in-law
  3. Policy provides cover for Hospitalisation Expenses
  4. Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
  5. Cumulative Bonus of 5% per year for every claim free year, provided that the policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured.
  6. Room Rent Limit of 2% of Sum Insured subject to a maximum of Rs5000 per day for Normal Rooms and 5% of Sum Insured subject to a maximum of Rs10,000 per day for ICU Rooms
  7. Co-Payment of 5% on each and every claim
  8. Waiting Period of 48 months for Pre-Existing Diseases
  9. Waiting Period of 24 and 48 months for Specific Diseases
  10. Lifelong Renewal
ICICI Lombard Personal Protect Insurance Policy - Personal Accident Insurance Policy

ICICI Lombard Personal Protect is a Personal Accident Insurance Policy that pays a Lumpsum Benefit to the beneficiary in case of Accidental Death or Permanent Total Disablement of the Policyholder. The Policy provides coverage amount in the range of Rs 3 lakhs to Rs 25 lakhs.

Features of ICICI Lombard Personal Accident Insurance Policy

  1. ICICI Lombard Personal Protect Insurance Policy provides coverage against Accidental Death, Permanent Total Disablement, Permanent Partial Disablement or Temporary Total Disablement resulting from an Accident.
  2. The policy offers Sum Insured Options ranging from Rs 3 lakhs to Rs 25 lakhs.
  3. Policy provides worldwide coverage.
  4. No medical tests are required to purchase this policy.
  5. Additional covers like Accidental Hospitalization Expenses and Accidental Hospital Daily Allowance can be opted for.

Motor Insurance Products offered by ICICI Lombard General Insurance Company

ICICI Lombard Commercial Vehicle Insurance Policy

ICICI Lombard Commercial Vehicle Insurance Policy provides insurance coverage to Commercial Vehicles such as Trucks, Trailers etc. The Policy covers damage to vehicle itself from Perils such as Fire, Accidents, Theft, Calamities etc. as well as liability arising due to Third Party Bodily Injury and Property Damage.

Key Features of ICICI Lombard Commercial Vehicle Insurance Policy

  1. Covers Damage to the Vehicle from Perils such as Fire, Accidents, Natural Calamities
  2. Add-On Covers of Zero Depreciation, IMT-23, Towing Charges available
  3. No Claim Bonus of upto 50% on Own Damage Premium
  4. Attractive Discounts for Commercial Vehicle Fleet Owners
ICICI Lombard Motor Insurance Policy

ICICI Lombard General Insurance Company offers a comprehensive Motor Insurance Policy to protect the car from risks like Accidents, Theft, Fire, Natural Calamities etc. in addition to the mandatory Third-Party Liability. The Car Insurance Policy offers comprehensive coverage against Own Damage as well as Third Party Liability.

Key Features of ICICI Lombard Motor Insurance Policy

  1. Coverage for Own Damage and Third-Party Liabilities
  2. No Claim Bonus of upto 50%
  3. Attractive Discounts on Own Damage Premium
  4. Cashless Claim Settlement across an extensive network of 13,000+ garages pan-India
  5. Option to customize coverage further through Add-On Covers like Zero Depreciation, Roadside Assistance, Engine Protect, Consumables Cover etc. as per requirement.
ICICI Lombard Two-Wheeler Insurance Policy

ICICI Lombard offers comprehensive two-wheeler insurance that provides coverage for Damage, Theft and Third-Party Liability for motorcycles and scooters. The Insurance Policy offers comprehensive coverage against Own Damage as well as Third Party Liability.

Key Features of ICICI Lombard Two-Wheeler Insurance Policy

  1. Add-ons like Zero Depreciation, Roadside Assistance etc. available
  2. Cashless repairs at 13000+ network garages pan-India
  3. No Claim Bonus of upto 50%

ICICI Lombard Travel Insurance Plans

ICICI Lombard offers comprehensive Travel Insurance Policies for Individuals, Students, Senior Citizens, Corporates, Groups etc. as per their specific needs and trip requirements.

ICICI Lombard Single Trip Travel Insurance

ICICI Lombard Single Trip Travel Insurance Policy secures a single trip to another country. The Insurance Policy covers Medical Expenses, Trip Cancellation due to specified reasons, Lost or Delayed Baggage, Passport Loss, Personal Liability, Hijack Cover etc.

Key Features of ICICI Lombard Single Trip Travel Insurance

  1. Sum Insured from USD50,000 to USD500,000
  2. Provides Coverage for Loss of Checked in Baggage, Loss of Passport etc.
  3. Provides Cover for Trip Cancellation, Trip Delay etc.
  4. Coverage available upto 360 days
  5. No medical test required upto 85 years age
ICICI Lombard Multi Trip Travel Insurance Policy

ICICI Lombard Multi Trip Travel Insurance Policy is an excellent option for frequent travellers with multiple trips during the year. ICICI Lombard Multi Trip Travel Insurance Policy insures all the trips under a single Policy. The Policy covers Medical Expenses, Trip Cancellation due to specified reasons, Lost or Delayed Baggage, Passport Loss, Personal Liability, Missed Connections etc.

Key Features of ICICI Lombard Multi Trip Travel Insurance Policy

  1. Sum Insured from USD100,000 to USD500,000
  2. Each trip can be for a duration of 30, 60 or 90 days based on the plan opted.
  3. The Policy has a Year Long Validity
  4. Provides Coverage for Loss of Checked in Baggage, Loss of Passport etc.
  5. Provides Cover for Trip Cancellation and Interruption
ICICI Lombard Student Travel Insurance Policy

ICICI Lombard has a Travel Insurance Plan specially designed for students traveling abroad for higher education or training programs. The Policy provides covers like Study Interruption, Sponsorship Protection, Bail Bond, Compassionate Visit by Parents, University Insolvency etc.

Key Features of ICICI Lombard Student Travel Insurance Policy

  1. Tie-Up with United Health Group and Falck to provide cashless hospitalisation worldwide.
  2. Plans suit university requirements which enable students to seek waiver from Compulsory University Insurance
  3. Provides cover for Study Interruption where Tuition Fees are paid in advance where the student is unable to continue the studies due to hospotalisation for more than 1 consecutive month due to covered injury or sickness or death of an immediate family member
  4. The Policy provides reimbursement of Tuition Fees paid in advance in case of the death of the Sponsor for remaining period of Education subject to Maximum Sum Insured
  5. Policy applicable for students in the age group of 16 to 35 years
  6. Various Sum Insured Options available from USD50,000 to USD500,000

How to Purchase ICICI Lombard Insurance Policy?

Here are the steps to purchase an ICICI Lombard Insurance Policy:

Online Process to purchase ICICI Lombard Insurance Policy

  1. Go to ICICI Lombard Website, select the relevant Insurance Policy such as Motor Insurance, Health Insurance etc.
  2. Fill in the online form providing your basic details, nominee information, preferences for add-on covers etc.
  3. The Insurance Premium will be calculated and displayed. Review the premium and coverage details.
  4. Make the premium payment online using net banking, UPI, debit/credit card, wallet etc.
  5. The Policy Document will be emailed to your registered email id immediately.

Offline Process to purchase ICICI Lombard Insurance Policy

If you prefer to purchase a Policy offline, go to the nearest company branch or the Insurance Broker, where their experts will guide you through the entire process. An Insurance Broker will assist you with quote comparisons, negotiations and claims as well.

How to File a Claim with the ICICI Lombard General Insurance Company?

The steps to file an Insurance Claim with ICICI Lombard General Insurance Company are listed below:

Intimate Claim

You need to intimate ICICI Lombard about the claim by either:

  1. Go to the ICICI Lombard Website, Click on Claims, select the relevant Insurance Policy and register a claim by providing details like Insured Information, date of incident etc.
  2. The Insurance Company will provide a Claim Intimation number upon successful registration of the Claim

ICICI Lombard Health Insurance Claim Settlement Process – Cashless Claim Settlement

In order to avail Cashless Claim Settlement under the ICICI Lombard Health Insurance Policy, the Policyholder must follow the steps listed below:

  1. Locate the nearest network hospital covered by the ICICI Lombard Health Insurance Policy to avail treatment
  2. Inform ICICI Lombard about the hospitalization before 3-4 days in case of a planned hospitalization and within 4-5 hours in case of an emergency
  3. Show the Health Card issued by the Insurance Company to the insurance desk at the hospital
  4. Fill the Pre-Authorization Claim Form provided by the hospital
  5. The Hospital sends the Pre-Authorization Claim Form to ICICI Lombard for Claim Settlement
  6. The Insurance Company will inspect the details and inform the Insured about the approval or rejection of the Claim
  7. Once the Claim gets approved, the hospital sends the expenses and receipts to the Insurer and the hospital gets reimbursed for the treatment expenses directly by ICICI Lombard General Insurance Company. The advantage of cashless claim settlement is that the Policyholder does not need pay any amount from his own pocket.

ICICI Lombard Health Insurance Claim Settlement Process – Reimbursement Claim Settlement

If the Policyholder chooses a non-network hospital, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement is listed below:

  1. Inform ICICI Lombard within 24 hours of admission to the hospital. The Company will provide the Policyholder with a Claim Intimation Number after the claim is raised so that the Claim Status can be tracked.
  2. Make the payment to the hospital for the medical expenses incurred and keep original copies of all the Invoices.
  3. Submit the required documents to ICICI Lombard General Insurance Company
  4. The Insurance Company will verify the Claim Details, ask for additional documents if required and will approve or reject the Claim.
  5. The approved Claim Amount gets credited directly to the Bank Account of the Insured

What are the documents Required for a Reimbursement Claim under a Health Insurance Policy?

The Insured needs to submit the following documents to ICICI Lombard to avail Reimbursement Claim Settlement under the Policy:

  1. ID Proof, Policy Health Card and Address Proof
  2. Duly Filled and Signed Claim Form
  3. Pathology Reports
  4. Medicine Prescriptions and Pharmacy Bills
  5. Pre and Post-Hospitalisation Bills
  6. Hospital Bills
  7. Discharge Summary

ICICI Lombard Motor Insurance Claim Process– Cashless Claim Settlement

In order to avail Cashless Claim Settlement under the ICICI Lombard Motor Insurance Policy, the Policyholder must follow the steps listed below:

  1. Locate the nearest network garage covered by the ICICI Lombard Motor Insurance Policy on www.icicilombard.com and bring the damaged car/bike to the same for repairs
  2. Inform ICICI Lombard about the accident and damage to the vehicle by providing the necessary details such as Policy Number, Date, Time and Description of Accident
  3. ICICI Lombard General Insurance Company will send a surveyor to the Garage to inspect the extent of damage post which the approval to begin repairs is given.
  4. Once the approval is received, the Garage can commence repairs.
  5. The Insured needs to fill the claim form and provide the related documents as mentioned in the form.
  6. Once the vehicle is ready, the Insured needs to pay his share of the Claim consisting of Deductible, Depreciation etc .to the garage and drive off. The balance would be settled by ICICI Lombard directly with the network garage

ICICI Lombard Motor Insurance Claim Process– Reimbursement Claim Settlement

If the Policyholder chooses a non-network Garage, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement for Motor Insurance is listed below:

  1. Inform ICICI Lombard of the Accident on the Mobile App or Website
  2. The Company will send a surveyor to assess the extent of damage
  3. The Insured needs to submit the Duly Filled and Signed Claim Form along with the necessary documents as mentioned in the form
  4. The Insurance Claim is processed on receipt of documents and the Claim Amount will be credited to the bank account of the Policyholder

Purchase ICICI Lombard policies with Qian

Qian is a licensed Insurance Broker with ICICI Lombard General Insurance Company. We can assist you with all Insurance Policies as well as Claim Settlement with ICICI Lombard General Insurance Company. Get a Quote for ICICI Lombard General Insurance Company’s Insurance Policy with Qian. Email us at insurance@qian.co.in or call us on 022-35134695. We would be glad to assist you.

Testimonials

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Hemik of Qian is knowledgable, prompt and very professional - highly recommended. I had to claim for a critical illness under my health insurance policy and Qian’s assistance with the claims process and advice on how to deal with the insurer was invaluable.

Niyati Shah