General Accident
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Stay prepared for life's unexpected outcomes. General accident insurance offers protection against unforseen circumstances.
? PERSONNEL/GROUP ACCIDENT INSURANCE
This is a comprehensive employee-welfare policy designed to provide financial protection in the event of accidental death, disability, or injury. It offers peace of mind to both employees and employers by reducing the financial burden that may arise from unforeseen accidents caused by violent, visible, and external means.
The policy operates on a 24-hour basis, ensuring round-the-clock protection, and benefits are typically expressed as multiples of the employee’s annual salary.
Key Features
- Death Benefits: Provides a lump-sum payment or a multiple of the employee’s annual salary in the event of accidental death. To qualify, the death or injury must occur within 12 months of the accident and must be directly linked to the insured event.
- Permanent Total Disablement (PTD): Offers a defined compensation payout if the insured suffers an accident resulting in permanent and irreversible disability that prevents them from engaging in their occupation.
- Temporary Total Disablement (TTD): Covers employees who are temporarily unable to perform their duties due to a bodily injury sustained in an accident. The policy provides a weekly benefit throughout the period of medically certified incapacity.
- Medical Expenses: Reimburses medical costs actually incurred as a direct result of an accident that gives rise to a valid claim under the policy, up to an agreed limit.
Benefits
- Strengthens employee welfare and organizational support systems
- Provides financial security to employees and their families in the event of an accident
- Reduces the organization’s financial exposure to unexpected employee-related incidents
- Ensures continuity of employee income during recovery periods
- Enhances the company’s reputation as a responsible and caring employer
Suitability
- Organizations seeking comprehensive welfare protection for their employees
- Companies aiming to mitigate financial losses arising from employee injuries or accidents
- Employers who want to provide an additional layer of security and motivation for their workforce
? GOODS-IN-TRANSIT INSURANCE
GITs can be arranged in the following ways:
Single Transit
This is a one-off arrangement. The proposer gives the description and value of goods to be carried as well as details/particulars of the conveying vehicle. The period of the transit is also stated. As soon as the goods reach the specified destination, cover terminates irrespective of the expiry date of the stated period.
Open Cover (Annual Basis)
Under this arrangement, the proposer gives full description of goods stating the Estimated Annual Carrying (EAC) as well as the Limit Any One Carrying (LAOC). The LAOC is the monetary value of goods the insured intends to carry per transit. It represents the maximum liability of the underwriters in the event of a loss. The EAC is obtained by multiplying the LAOC by the number of times the transit is expected to be made per annum.
Requirements
- The nature of goods
- The mode of conveyance by road, rail, air, or inland waterways
- The distance to be covered
- The type of vehicles to be used and whether owned or hired
- The carriage contract or Hire Agreement
- Limit per carriage
- The estimated annual carrying
? PUBLIC LIABILITY INSURANCE
Public Liability Insurance protects your organization against legal liability arising from accidental injury to third parties or damage to their property in connection with your business operations. Whether these incidents occur within your premises or during the course of your activities, this cover ensures you are financially protected against claims and related legal expenses.
Key Features
- Covers legal liability for accidental bodily injury or death of third parties
- Covers accidental loss of or damage to third-party property not owned or controlled by the insured or its employees
- Includes legal costs and expenses recoverable from the insured
- Protection applies to incidents arising from business activities carried out within the insured premises
Benefits
- Financial protection from unexpected compensation claims
- Safeguards business cash flow by covering costly legal fees
- Enhances public trust by demonstrating responsible business practice
- Reduces the financial impact of accidents involving customers, visitors, or other third parties
Suitability
- Businesses that interact regularly with clients, suppliers, or visitors
- Organizations that operate physical premises accessible to the public
- Companies seeking strong risk protection against third-party claims
? PRODUCT LIABILITY INSURANCE
Product Liability Insurance provides coverage for legal liability arising from death, bodily injury, loss, or property damage caused by products supplied, manufactured, or distributed by the insured. It protects your business when claims arise due to defects, malfunction, or harmful product outcomes.
Key Features
- Covers legal liability for bodily injury or death caused by the insured’s products
- Covers accidental loss of or damage to third-party property resulting from product failure
- Applies to products manufactured, supplied, processed, or distributed by the insured
Benefits
- Shields the business from costly compensation claims
- Provides financial stability in the event of product-related incidents
- Protects brand reputation by ensuring swift claim resolution
- Supports compliance with industry and regulatory expectations
Suitability
- Manufacture, assemble, package, or distribute products
- Offer consumer goods or industrial products
- Want protection against unforeseen product-related risks
? WORKMEN’S COMPENSATION INSURANCE
Covers the employer’s legal liability to employees for injury, disability, or death arising out of and in the course of employment, including medical expenses and statutory compensation.
? PERSONAL LIABILITY INSURANCE
Provides protection against legal liability arising from bodily injury or property damage caused to third parties in a personal or non-business capacity.
? EMPLOYERS’ LIABILITY INSURANCE
Covers an employer’s legal liability for compensation claims made by employees due to injury, illness, or death sustained during the course of employment, beyond statutory workmen’s compensation limits.
