this class of business is governed by a market agreement which applies to non industrial risks such as:- 1) hotels , motels, club houses, restaurants , boarding and lodging houses, flight kitchens 2) residential premises 3) exhibitions, fairs and fetes, stadia 4) permanent amusement parks 5) deposits, warehouses, god owns, shops, tank farms and similar […]

A claim may lie upon a marine insurance policy on ship, when by the operation of the insured perils, any of the following occurs; ACTUAL TOTAL LOSS: • WHEN THE CARGO IS DESTROYED AND CEASED TO BE OF ANY VALUE TO THE INSURED • WHEN THE CARGO IS SO EXTENSIVELY DAMAGED THAT IT IS NO […]


September 14, 2013 Policy 0 Comment

Fidelity Guarantee insurance is an insurance policy designed to indemnify the Insured (the employer) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment. Companies are exposed to significant financial losses annually, due to crime committed by employees […]

The term money as used in this policy is deemed to mean bank notes, bullion , coins, currency, jewelry, precious stones, ornaments pledged with the insured, postage and revenue stamps and stamps papers. the term ‘employee’ is deemed to mean all existing employees whether permanent or temporary, whole time oe part time on contract or […]

the general rules and regulations prescribed in section of the tariff are applicable to all sections of the tariff. POLICY a)Only Standard Fire and Special Perils Policy (hereinafter referred to as Policy) with the permitted “Add- on” covers (as appearing under Section VIII) if any, can be issued. b) The wordings of the policy shall […]

Add on covers are extensions of the fire policy on payment of additional premium and by attachment of endorsements. these extensions relate to additional perils or additional coverages. Forest Fire Policy may be extended to cover the above subject to following endorsement wordings: “ In consideration of the payment of additional premium the insurance under […]

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 […]

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 […]

WHEREAS the insured described in the Schedule hereto (hereinafter called the insured”) by a proposal and declaration which shall be the basis of this Contract and is deemed to be incorporated herein has applied to The ______________ltd., Co. (hereinafter called the “Company”) for the insurance hereinafter contained and has paid the premium stated in the […]