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  • CLAIMS-LEGAL ASPECTS

    losses have to be settled within the framework of the insurance contact, taking into account its terms an conditions, its limitations and restrictions, insurers observe good faith and ensure that restrictions , insurers observe good faith and ensure that as far as possible losses are settled according to the spirit of the insurance contract rather [&hellip...
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  • MEDICLAIM POLICIES

    health insurance or medical expense insurance schemes have been in existence for a number of years prior to nationalization of insurance business. these policies were granted on a group basis, only to large corporate clients purely on an accommodation basis as claim experience was unsatisfactory. there was no scheme for individuals and families. this scheme [&hellip...
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  • REINSURANCE

    The concept of reinsurance is the logical extension of the concept of insurance . Reinsurance serves to underwrite the risk liability of an insurer more or less in the same way as insurance to indemnify the insured with respect to his interest. the basic underlying principle is one of spreading the risk as far and [&hellip...
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  • BURGLARY INSURANCE

    Burglary insurance is a major class of miscellaneous insurance. the policy covers contents against loss or damage by burglary and is available to commercial establishments, factories, god owns, shops etc. EXCLUSIONS A. This Policy does not cover the following unless specially mentioned in the Schedule and expressly insured by the Policy:- 1) The amount of [&hellip...
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  • 10.RURAL INSURANCE

    The Rural sector has been defined as any place which, as per the last census, has a population of not more than 5000,density of population of not more than 400 per square kilometer, and at least 75% of the male working population engaged in agriculture. The Government of India has launched various programmes for the [&hellip...
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  • 9.STANDARD FIRE AND SPECIAL PERILS POLICY

    once there is contract between insurer and the client,, a document known as standard fire special perils policy is issued which is also known as policy documents. It is an agreement between insurer and insured and both the parties are bound to follow the terms and condition mentioned therein. Insured the value of the Property [&hellip...
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  • 8.DUTIES OF SURVEYOUR AND LOSS OF ASSESSOR

    At he surveyor is deputed by the insurance company after the intimation of loss has been received by the insurers. as and when there is loss under any insurance policy and expected loss is more than Rs. 20000/-, it is legal obligation on the insurance to appoint an independent surveyor to assess the loss. STEPS [&hellip...
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  • 7.PERSONAL ACCIDENT INSURANCE

    The purpose of personal accident insurance is to pay fixed compensation for death or disablement resulting from accidental bodily injury. The personal accident insurance policy provides that, if at any time during the currency of this policy, the insured (person who has taken the policy) shall sustain any bodily injury resulting solely and directly accident [&hellip...
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  • 6.GENERAL REGULATION

    In India, the fire insurance is tariff business which means the terms and conditions of the fire insurance policy are same for all as these are approved by the authority . till 2006 the premium rates of fire insurance were also fixed which were known as tariff rates but now the insurance are fire to [&hellip...
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  • 5.Consequential Loss (Fire) Insurance Policy

    Fire and Special Perils Policy compensates only for Material Damage to the insured property. It specifically excludes any consequential loss. In case of a major loss caused by Fire, there could be an interruption in business operation leading to reduction in turnover finally resulting in possible loss of profits. However, standing or fixed charges continue [&hellip...
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