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Workman Compensation Policy
It is taken by the businessmen to cover any liability towards the workmen or their family in case of death, injury, mutilation, or disability suffered by workers in the course of their employment. Accidents are common especially in case of factory workers. Machine operators can get injured if they are negligent or due to any other reason. If workers suffer such damages while rendering their services on the premises of the business owner, the owner is liable to compensate. Such liability is taken over by the general insurer under a workman compensation policy.
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Standard Fire And Special Perils Insurance
This policy provides financial protection against unforeseen contingencies such as accidental fire and allied perils as mentioned in the policy. The common allied perils are explosion/implosion, lightning, and destruction caused by aerial devices. Some policies also cover man-made perils such as strikes, riots, etc. and natural calamities like storm, tempest, typhoon, etc. The policy provides financial coverage for stock, plant and machinery, furniture and fixtures, and other contents.
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Marine Insurance
Marine insurance is one of the earliest forms of insurance. It covers damage to vessels, terminals, ships, cargo, and any transport by which goods are acquired, transferred, or held between the points of origin and their final destination. The name “marine” should not confuse you. Marine insurance is not limited to transfer of goods via sea or any other water body but it covers even airplanes, air-cargo, trucks, or any other means of commercial transport.
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Fleet Insurance
It is a group insurance policy that covers the whole fleet of trucks or other commercial vehicles.
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Commercial Vehicle Insurance
This policy covers an individual commercial vehicle and the features are very similar to that of the car insurance policy discussed earlier.
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Group health Insurance
This type of health insurance plan is taken by the employer to cover all his/her employees under a single master policy. An employee is cover under a group health insurance plan till he/she is working with the organization. Upon separation from the company, the policy benefits cease for that individual.
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Professional Indemnity Policy
This policy is very important for professionals like doctors, chartered accountants, lawyers, etc. Any negligence on part of these professionals can cause huge damages to their clients. A professional indemnity insurance cover pays the third party liabilities on behalf of the insured professionals in return for a premium.
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Shoplifting Insurance
This policy compensates for the financial loss due to theft in the policyholder’s shop.
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Directors and Officers Insurance
This general insurance policy is designed to protect the directors and officers of a company from professional liabilities.
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Cyber Risk Insurance
This policy protects a business from the financial losses accruing due to cyber frauds.
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Contractor’s All Risk Cover Policy
This is an engineering insurance policy and covers all the financial risks of a builder/contractor.
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Machinery Breakdown Policy
This policy compensates for the financial losses accruing due to the breakdown of plant and machinery.
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Erection All Risk
This policy covers the financial risks of a builder/contractor while erecting a building.
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Plant All Risk Insurance
This engineering insurance policy covers the plant and machinery such as cranes, drilling machines, etc. used in the project.
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Electronic Equipment Policy
This policy covers the financial risk caused due to breakdown of electronic equipment.
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Boiler Pressure Plant Insurance Policy
This policy covers the damages caused to boilers and pressure plants in a factory.
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Advance Loss Of Profit Insurance Policy
This policy protects against loss of profits due to delays in construction and infrastructure projects.
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Aviation Insurance
This policy covers hull losses and liabilities to passengers as well.
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Crop Insurance
This policy is helpful for farmers as they can get financial cover against any damage to their crops.
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Livestock Insurance
Similarly to crop insurance, this policy provides financial cover against any damage caused to the livestock of the farmers.