Being a resident of India we have always nurture as the country that have vast rocks in the history of Insurance. If you go and read about the previous era then traders used to preserve their traces in the form of marine trade loans and carriers. Industry has evolved since them. GMP group is one of the leading insurance service providers in the country. We work with the idea of providing end to end services to our clients at pocket friendly Cost. If we talk is brief about the general Insurance them you typically defined it as the insurance. In Other countries it is also known as property and Casualty insurance. In case, we talk about the History how this started in India then in 1999, IRDA i.e. Insurance regulatory and development Authority was Constituted as an official body to regulate and develop the Insurance Industry. Currently these are approx 36 Insurance Companies and 6 standalone Health Insurance Companies
Well this policy was made to cover the legal liabilities of the employees who lie under the roof of workmen’s compensation Act 1923 fatal Accident Act 1855. No matter how many preventive measures we take or ask the team to be cautious during the work timing you will sties encounter unavoidable situations.
Under this policy, the employers are liable to pay the compensation to the employers and the family in case of death or injury caused due to accident at the workplace. This policy provides the complete coverage for medical expenditure, occupational disease, Compressed air disease and terrorism People| Employees under manufacturing trading| services setup Can opt for this policy. It can be taken by any individual| public or private Companies| partnership firms or by any business group.
Public Liability Insurance offers the optimum protection to the business in case any third-party liability arising out of injury or property damage. Public exposure or liability affected by law can destroy the promising future of any business. With this insurance policy, you can mitigate the financial burden that may arise due to third-party liabilities, for this reason, it can also be called third-party liability insurance. It is commonly known as Commercial General Liability Insurance as well, which works as a combination of both Product Liability and Public Liability insurance policies.
In View Of New Dimensions Of Legal Liability Exposures Any Business Can Fall Victim To The High Cost Of Liability From Simple Slip And Fall Accidents To Personal Injury And Reputation Damage Claims. That’s Why Every Business Needs The Type Of Coverage That Tata AIG General Insurance Company Limited’s Commercial General Liability Insurance Offers And It Is Generally A Company’s First Line Of Defense Against Liability Arising Out Of Its Operations. Commercial General Liability (CGL) Policy Covers Third Party Liabilities Arising From Various Business Operations, Be It Premises, Products And Completed Operations And/Or Advertising And Personal Injury.
It covers all the damage/loss of the insured’s machinery such as cranes, bulldozers, compressors, etc. The advantage of this insurance policy is that it provides cover to the insured’s machineries irrespective of the fact that they are working / at rest/ dismantled for cleaning purposes
A package policy with money coverage provides financial protection against the loss or theft of money belonging to a business or organization. This type of policy typically covers cash, cheque, and other negotiable instruments. Money coverage can also extend to include coverage for money in transit, money stored in a safe, and money in the custody of authorized employees. This coverage is important for businesses that handle significant amounts of cash or have frequent cash transactions. Insurance companies will determine the appropriate coverage amount and premiums based on the level of risk and the amount of money at risk. A package policy with money coverage can help businesses mitigate financial losses due to theft or loss of money.
Contractor's All Risk Insurance offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project. This policy is extremely useful for consulting engineers, architects and financiers because it contributes to reducing the overall construction expenses and at the same time offers efficient financial protection for all parties concerned.
Contractor's All Risk provides 'all risk' cover unless the hazard is specifically excluded. It covers the risk of fire ,lightning, explosion, flood, inundation, rain, snow, earthquake, theft, burglary, bad workmanship, lack of skill, negligence, human er
This policy is subject to only few exclusions. Loss or damage to nuclear reaction, consequential loss, loss or damage due to faulty design, loss or damage due to war or war-like operation etc
An Erection All Dangers (EAR) protection offers security to Directors and Project workers and furthermore to Producers and Providers raising hardware and plant and so on against monetary misfortune because of any unexpected chance and unanticipated causes bringing about misfortune or harm to the property safeguarded at the venture site while being put away, raised, tried and kept up with. EAR protection has been intended to address the issues of the market, which are quick changing with the progression in innovation and the financial construction activities of all sizes of Full scale or Miniature levels for example enormous undertakings, for example, erection of Nuclear energy Plants, Petroleum Treatment facilities, Compost Plants and so on, or little ventures like establishment of PCs of Electrical hardware.
An insurance policy that indemnifies you against your legal liability to pay compensation including defence costs, fees and expenses anywhere in India in accordance with indian laws.
The insurance covers the claims arising out of losses and/or damages due to any breach of professional duty by reason of any negligent act, error or omission committed or alleged while rendering your services as a chartered accountant and during the period of insurance.
Personal accident insurance provides financial protection in the event of accidental injury, disability or death. This type of insurance policy typically covers medical expenses, loss of income, and lump-sum payouts in case of permanent disability or death. Personal accident insurance is important for individuals who are at risk of accidental injuries, such as those who work in hazardous environments or participate in extreme sports. Insurance companies will determine the appropriate coverage amount and premiums based on the level of risk and the individual's occupation and lifestyle. Personal accident insurance can provide peace of mind and financial security in the face of unexpected accidents.
Fire insurance provides coverage for damage or loss caused by fire to a property or its contents. This type of insurance policy can also include coverage for smoke damage, water damage from firefighting efforts, and damage caused by explosions or lightning strikes. It is important to have fire insurance for homeowners, renters, and business owners to protect their stock, furniture and building in case of a fire. Insurance companies will typically conduct a risk assessment and determine the appropriate coverage amount and premiums based on the value of the property and its contents.
Burglary insurance provides coverage for loss or damage caused by theft or attempted theft. This type of insurance policy typically covers stolen items, damage caused during a break-in, and the cost of replacing or repairing damaged locks and doors. Burglary insurance is important for homeowners, renters, and business owners to protect their assets and personal belongings. Insurance companies will assess the risk of burglary based on factors such as the location of the property and the security measures in place. The coverage amount and premiums will be determined based on the value of the property and its contents.