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Taxi Insurance

Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.

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Marine Insurance

Marine insurance covers the loss or damage of ships, cargo and terminals.

The policy will extend to cover cargo whilst being transported from the departure warehouse and whilst in transit to the final destination warehouse.

Provides cover in respect of loss or damage to insured’s goods whilst in the high seas and/or while carried on road and/or on rail. Marine cargo can be in respect of imports or exports.

Scope of cover

There are various kinds of covers available for overseas transit. Generally the following three kinds of cover are most common.

  • Institute Cargo Clause A
  • Institute Cargo Clause B
  • Institute Cargo Clause C

The scope of cover against the perils is restricted so far as Institute Cargo Clause C is concerned and gets widened up in case of Institute Clause B and finally becomes an All Risk in Institute Cargo Clause A subject to certain general exceptions.

The Risks covered under Institute Cargo Clauses (A), (B) or (C) briefly summarised are as under

  1. Institute Cargo Clauses (C)

The risks covered under these clauses include loss or damage to the insured property due to or caused by:

  • Fire or Explosion.
  • Stranding, Grounding, or Sinking of the Vessel or Craft.
  • Overturning or Derailment of Land Conveyance.
  • Collision or Contact of Vessel, Craft or Conveyance with any external object other than water.
  • Discharge of cargo at a port of distress.
  • General Average Sacrifice and Salvage Charges
  • Jettisoning
  1. Institute Cargo Clauses (B)

All losses covered under Institute Cargo Clauses (C) are covered under this clause. In addition the following perils are also covered:

Loss or Damage to the Insured property due to or caused by:

  • Earthquake, Volcanic Eruption or Lightning.
  • Sea Water or Fresh Water Damage.
  • Loss or Damage by Washing Overboard.
  • Total loss of any package lost overboard or dropped whilst loading or unloading
  1. Institute Cargo Clauses (A)

The Institute Cargo Clauses (A) provides cover for All Risks of Loss or Damage to the property insured unless specifically excluded under the general exclusions clauses.

The General Exclusions applicable to all the Institute Cargo Clauses, briefly summarised are as under:

Loss Damage or Expense:

  • Attributed to willful conduct of the assured.
  • Due to ordinary Leakage, Breakage, Wear and Tear and Loss in Weight or Volume.
  • Due to unsuitability or insufficiency of packing.
  • Caused by inherent vice or nature of the property insured.
  • Proximately caused by delay, even though the delay be caused by a risk insured against.
  • Due to insolvency or financial default of the Owners, Managers, Charterers or operators of the vessel.
  • Due to Nuclear Perils.
  • Arising from unseaworthiness or unfitness of Vessel or Craft used for the carriage of the property insured.
  • Due to or arising from War Perils.
  • Due to or arising from Strike Perils.
  • Caused by Capture, Seizure, Arrest, Restraint or Detainment (Piracy excepted) and the consequences thereof or any attempt threat.
  • Caused by terrorist or any person acting from a political motive.
  • Due to deliberate damage or destruction of the subject-matter insured by the wrongful act of any person or persons. (This exclusion does not apply to Institute Cargo Clauses (A).

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Why do you need marine insurance?

The other clauses which are normally attached to a Marine Policy are:

Declaration Clause

This makes it obligatory on the Insured to declare each and every shipment within the scope of the Marine Open Cover (MOC). The shipment must be declared to the Insurer prior to shipment of the goods but in any case not later than the date of sailing of the vessel or flight of the aircraft.

Cancellation Clause

The Marine Open Cover is generally valid for a period of one year and renewable annually. It can be canceled by either party giving One Month’s notice of cancellation.

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    Personal Accident Insurance

    Get extra protection in your line of work
    This is a “benefit“ policy which promises to reimburse the insured for medical expenses or loss of income as a result of an accident which results in temporary or permanent disablement or dismemberment . The policy will also provide compensation to the dependents of the insured in the event of accidental death.

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    Why do you need personal accident insurance?

    The Policy covers bodily injury caused by violent, accidental, external and visible means which is subject to the limits specified in the Policy. The cover is recommended for individuals and groups and can be issued on fixed benefits or based on salary. Such injury or injuries shall within six months from the date of occurrence thereof cause or result into any contingencies.


    The age of the insured should range between 18 years to 65 years.

    Sum Insured

    The sum insured depends on the individual’s annual earnings inclusive of all benefits.

    • On Death – Capital Sum Insured.
    • On Permanent or Total Disablement. – capital sum insured as well?
    • Weekly Benefits for Temporary Total Disablement based on Actual Weekly Wages (Limited To 104 Weeks).
    • Reimbursement of Actual Medical Expenses subject to agreed limit

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      Public Liability

      Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.

      Public liability insurance promises to indemnify the insured in the event of claims for bodily injury, sickness and death or property damage as a result of the negligent operation of their business or the negligence of agents acting on their behalf. The policy also provides compensation for legal fees incurred during litigations for such incidents. Legal liability for accidental death or bodily injury by Third parties including damage to their property caused by negligent acts arising from business operation- includes litigation costs and expenses. 

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      Why do you need public liability insurance?

      This policy indemnifies the insured against all sums, including all costs and expenses incurred with the written consent of the insurer, subject to the terms, provisions, exclusions, conditions and liability limits) which the insured shall become legally liable to pay for compensation in respect of:

      • Death of or bodily injury to any person other than the insured or a person in the service of the insured or his sub-contactor.
      • Damage to any property other than property belonging to, held in trust by or in the control of the insured or his employees/subcontractors;

      where such death, injury or damage is caused through the fault or negligence of the insured or any of his employees whilst actually engaged in the insured’s business, or by reason of any defect in any machinery or plant used by the insured in connection with such business.

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        Plate Glass Insurance

        Plate glass insurance offers compensation for accidental damage to glass forming a part of the building.

        This coverage is available whether the insured is a tenant or owner of the property.

        The policy provides cover for to the insured against loss and/or destruction/damage to glass by accident or misfortune of fortuitous nature Cover can be arranged for display signs, fixed glass and glass partitions in a business premises.

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        Why do you need plate glass insurance?

        This covers the breakage of any plate glass due to accidental or misfortunate damage excluding the following:

        • Breakage due to fire, explosion, gas, heat or any loss covered by fire policy
        • Cost of removing or replacing fixtures and fittings
        • Political risks and natural disasters
        • Cracked or imperfect glass
        • Loss due to interruption of business
        • Breakage due to unsecured glass

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          Protect your belongings.

          Burglary Insurance indemnifies the insured following loss of contents, stock, electronic equipment and other items contained in a building resulting from visible and forcible entry to or exit from said building.

          A burglary insurance policy offers an additional layer of security to your property. It offers coverage for damages or misfortunes caused to your property and its contents. Burglary and Theft Insurance is designed to cover you against loss or damage as a result of theft or any attempted theft. Burglary and Theft Insurance will usually cover theft of property whilst the property is held within the premises, as well as damages made to the property as a result of the theft. For example, your home, office, factory can be protected against burglary and break ins. It provides cover under the accompanying circumstances:

          • Theft by persuasive/violent/fierce entry
          • Attempted theft or theft by a criminal on the said premises
          • Armed robbery or hold-up

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          Why do you need burglary insurance?

          On the off chance that someone breaks into your home and takes things in then it will be both emotionally and monetarily decimating. This protection offers you the money you need to help with adapting to any such occurrences, you can likewise get add-on coverage for your costly jewelry, diamonds or stones.

          The primary reason that burglary insurance policies solve is that they risk-proof the insured premises from a violent or forceful attempt to the theft. In the event that burglaries and house-breaking incidents are regular in your area, then at that point you definitely should get theft or burglary insurance of some form to cover the well being and security of your space.

          What's Covered?

          Theft by persuasive/violent/fierce entry
          Attempted theft or theft by a criminal on the said premises

          Armed robbery or hold-up

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            Goods in Transit

            Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.
            Goods-In-Transit Insurance provides indemnity to the insured for loss of damage to owned goods whilst in transit. Coverage extends to looting or theft of goods being transported subsequent to the vehicle being disabled during an accident.

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            Why do you need goods in transit insurance?

            The Policy provides Indemnity against Accidental Loss or Damage to goods belonging to or for which the Insured is responsible whilst:

            • Being loaded upon or unloaded from any Vehicle, Trailer or Wagon
            • In Transit on any Motor Vehicle, Trailer or Wagon
            • Temporarily housed in the course of transit

            The cover can be arranged to give protection for goods carried either

            • On specified vehicles or trailers owned by the proposer or
            • On any vehicle or trailer owned by the proposer or
            • Any specified vehicle hired or being used by the proposer or
            • Whilst being transported by any road or rail transporters hired by the proposer

            During transit, the policy covers the risk of loss or damage occasioned by

            • Fire
            • Lightning.
            • Breakage of Bridges.
            • Collision with or by the Carrying Vehicle.
            • Over-turning of the Vehicle.
            • Derailment or accidents of like nature to the wagon.

            The cover commences when the goods are being loaded on to the transporting Vehicle and ceases once the goods are unloaded at the final destination.

            In the event of the Vehicle or Wagon not completing the transit for any reason whatsoever, the policy extends to cover the property whilst being transferred to and conveyed by any on-carrying vehicle.

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              Fidelity Guarantee

              Fidelity Guarantee Insurance covers financial losses incurred as a result of dishonesty on the part of the insured’s employees.

              This includes misappropriation of funds as well as theft of stock and raw materials. Fidelity guarantee insurance (FGI) exists to safeguard your firm or organisation against theft of the firm’s own money, securities or property by an employee, partner, contractor or volunteer. FGI can also be known as first-party fraud, theft or employee dishonesty cover.
              Importantly, FGI cover should not be confused with third-party fraud and dishonesty cover. Third-party fraud and dishonesty refers to theft of the client’s money, as opposed to the accountancy firm’s own money, and is usually covered within the main insuring clause (civil liability) of a professional indemnity policy.

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              Why do you need fidelity guarantee insurance?

              Every business having employees to handle cash and payment processes will require fidelity insurance cover. The following business can avail fidelity insurance and get the benefits of policy as these businesses are more vulnerable to the risk of employee frauds – Restaurants and cafes Retail businesses Businesses that require trade licenses A business that requires the collection of personal information from customers

              Types of Fidelity Insurance

              Availing fidelity insurance is one of the parts in a business’s risk management practice. Fidelity insurance plans are available in four types. Following are the types of fidelity insurance plans available-

              • Individual policy: Under an individual policy, coverage is limited to losses due to fraud or dishonesty of an individual employee.
              • Collective policy: Under the collective policy, coverage is provided against the business losses caused due to fraudulent acts by a group of employees. Coverage in this type of fidelity insurance policy will be decided based on each employee’s responsibilities and position. 
              • Blanket policy: Blanket policy covers a group of employees without the names of the guaranteed person. Basically, this type of policy is issued to well-established businesses.
              • Floater policy: Floater policy guarantees a group of employees with one amount of guarantee is given across the group. Minimum of five employees need to be there to avail this cover.

              What are the Features of Fidelity Insurance?

              Fidelity insurance provides coverage against financial losses suffered by the organisation due to fraudulent act employees. Following are the features of fidelity insurance –

              • The policy provides comprehensive coverage against various risks arising from fraud and the dishonest act of an employee or group of employees such as loss of money, property, securities or other assets, computer fraud, forgery, loss to customers etc
              • Fidelity insurance offer tailor-made coverage to businesses depending on the need and nature of work
              • Fidelity insurance offers coverage with a broad definition of ‘employees’
                Coverage under fidelity insurance will start for the insured event on or after the date of commencement of the policy.
              • Coverage is also applicable for a year or 12 calendar months from the date of policy expiration
              • In case of death, dismissal or retirement of the employee, coverage is valid for 12 calendar months of such death, dismissal or retirement whichever of these events occurred first.

              What's Covered?

              The fidelity insurance policy covers theft of funds committed by the employees

              The fidelity insurance provides coverage for loss of business assets such as property, stock certificates or any other assets

              The fidelity insurance provides protection against loss of customer’s property caused by dishonest acts of an employee

              The fidelity insurance protects the business from financial crises coming from a small portion of the workforce (dishonest employees) which can affect the entire business and other employees.

              The fidelity insurance protects the reputation of business along with ensuring absolute transparency in supervision and accountability requirements within the business.

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                Loss of Profits

                Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.
                Though often considered a pecuniary policy, loss of money is a property policy covering physical loss or damage to cash arising from any insured peril to include fire, flood, hurricane, theft or hold up. Money is covered whilst on the insured’s premises as well in transit to and from the bank. The policy can also be extended to cover costs associated with the replacement of checks or bank notes.

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                Why do you need loss of profits insurance?

                The policy operates in the event of a fire causing a loss in profit of the insured and interruption to the business. This policy covers the balance sheet from becoming adverse from the interruption to business.

                Possible losses include loss to gross and net profit and to standing charges.

                Exclusions include:

                • Political risk
                • Natural Disasters
                • A loss that is not admissible under fire policy

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