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Corporate Insurance

Fidelity Gurantee Insurance Group




Scope of Cover

The Company agrees to indemnify the insured against a direct pecuniary loss sustained by reason of any act of fraud/dishonesty committed.


  • On or after the date of commencement of this policy
  • During uninterrupted service with the Insured and discovered during the continuance of this policy or within twelve calendar months of the expiration thereof
  • In the case of death, dismissal or retirement of the Employee with twelve calendar months of such death, dismissal or retirement whichever of these events shall first happen.

Types of fidelity policies.

Individual policy:

Under this policy only one individual is guaranteed per policy.

Collective policy:

This option covers the entire staff or number of selected people. One policy is issued showing amount of guarantee against the name of each individual covered.

Floating policy or floater:

This cover is an extension of the collective policy, where the sum insured for the whole group is mentioned and not for an individual. The names of the group member with their designations are mentioned in the schedule of the policy. Each claim reduces the sum insured and has to be reinstated by paying extra premium.

Position Policy:

The Policy schedule contains 'positions' rather than the names of individuals unlike in collective policy with the sum insured specified for each position. The liability for each position is limited to the amount of sum insured against each position irrespective of the number of people working in that position.

Coverage

The insurance provides indemnity to the employer for financial loss sustained as a result of dishonesty, default, negligence, misappropriation, forgery, embezzlement, larceny or fraudulent conversion of money or goods of the employer committed by salaried employees in the course of performance of their duties.


Exclusions

The Policy does not cover any loss:

  • If not discovered within 6 months after the death, dismissal or retirement of the said employee or if not discovered within 6 months after the policy shall have ceased to exist as regards such employees, whichever is earlier?
  • Due to any suppression, misrepresentation, misdescription, or misstatement of facts affecting the risk at the time of affecting this policy.
  • If the precautions and checks for securing accuracy of accounts and limiting the amount of monies received by or entrusted lo the employee at any one time shall be duly observed and put in practice on the part of the insured in accordance with the proposal.
  • If there be any change in the circumstances or conditions of the said employment without the consent of the insurer.
  • By an act insured against committed subsequent to the date upon which knowledge of any previous act insured or to any representative of the insured to whom is entrusted the duty of superintendence over the employee.
  • For more than one claim in respect of anyone employee.
  • If the policy is continued to be in force for more than one period of indemnity or if any liability shall exist on the part of the Company under this policy and also under any other policy, the liability of the company shall not be accumulated or increased but limited to the sum insured under this policy or any other such policy whichever is greater.

Extensions

Cash in transit / cash in safe limit can be asked in special circumstances. Enhanced limit for special disbursement for bonus etc.

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Group Personal Accident Insurance




Scope of Cover

The Insurance Policy compensates the Insured in case of Accidental Death, Loss of limbs and eyes, Permanent Total Disablement and Permanent Partial Disablement.

Sum Insured

The Sum Insured can be decided on the basis of earning capacity of the Insured Person.

Premium

The Premium chargeable for the policy depends on occupation of the Insured person and the Table of benefits availed.

Benefits


  • Accidental Death
  • Dismemberment
  • Permanent Total Disability
  • You are also covered for a maximum of Rs.5, 000 per accident for medical expenses.
  • Permanent Partial Disability
  • Accident Medical Reimbursement
  • Temporary Total Disability (weekly benefit)

Group Discount

The group Policy is eligible for group discount based on the size of the group. The group discount is slab-wise and increases with the size of the group.

Medical Expenses

we will pay a percentage of the admitted claim under other specified coverage towards the actual medical expenses necessarily and reasonably incurred for medical treatment within 100 weeks of its happening if the Insured or the insured person suffers injury during the period of insurance and provided such treatment is received from a qualified and registered medical practitioner.

Hospital Confinement Allowance

In the event of the Insured or the insured person being confined in hospital for treatment of injury for which compensation is payable under this policy, a daily benefit is paid for such period of confinement subject to a maximum period of 30 days.

Exclusions

The Policy does not cover any loss:

  • Self injury, suicide, venereal disease or insanity
  • Influence of intoxicating liquor or drugs
  • Death due to pregnancy or childbirth
  • Breach of law with criminal intent
  • War and nuclear group of perils
  • On duty with armed forces

Extensions

Medical expenses following an accident

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Consequential Loss Policy




Introduction

The Consequential Loss (fire) policy covers Loss of Gross Profit and/or increase in cost of working due to reduction in turnover/output due to operation of peril covered in the Standard Fire & Special Perils Policy. This policy offers a solution by covering profit lost due to reduction in turnover arising from interruption of business following damage to the property insured. This policy can be taken only in conjunction with Fire Policy or Machinery Breakdown policy. This policy is also known as Business Interruption Policy or Loss of Profit Policy.

The Policy Covers

  • Loss of Gross Profit
  • Increase Cost of Working

Coverage Includes

  • Loss of Net Trading Profit
  • Standing Charges
  • Loss in Respect of Wages other than those covered by the Standing Charges
  • Increased Cost of Working
  • Auditor's Fees

Extensions

  • Suppliers Premises
  • Customers Premises

Failure of Public utility of power/gas/water supply.

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Shop Insurance




Introduction

Shop Insurance is a comprehensive policy offered by ICICI Lombard General Insurance Company for your shop. It covers both the structure and its contents of your shop and protects you against financial loss in case of an unfortunate incident of fire, earthquake, fraud, burglary, etc. It also provides compensation of liability claims and accidental benefits.

Scope of Cover

  • Fire & Allied Perils -Provides protection for the property and interests of the insured against fire, burglary, theft or any fortuitous event
  • Covers breakdown of office equipment
  • Workmen’s Compensation-covers liability towards workmen under the Workmen’s Compensation Act.
  • Covers Business Interruptions suffered due to fire and allied perils Fidelity Guarantee -Provides protection against fraudulent and dishonest employees
  • Covers money carried to the bank, plate glass, neon sign and other electronic equipment in the shop
  • Covers for damage to data media, software and cost of recovery of lost data Personal Accident insurance provided for you and permanent employees

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Group Mediclaim Insurance Policy




Introduction

Health Care costs are high and getting higher. Who will pay your bills if you have a serious accident or a major illness? Most of the times we are unprepared for these difficult times, emotionally, as well as financially. Bajaj Allianz's Health Guard Policy protects you and your family in case you need expensive medical care. It also offers you cashless benefit & medical reimbursement for hospitalization expenses.

Scope of Cover

  • Policy covers reimbursement of hospitalization expenses incurred for diseases contracted or injuries sustained in India.
  • Pre – hospitalization: Medical expenses upto 30 days
  • Post – hospitalization: Medical expenses upto 60 days

Sum Insured

Sum Insured generally depends on the company or the group for which insurance is taken. The Popular limits are between Rs 100,000/- to Rs 500,000/- and it can be taken as separate for each of the family members or as Floater sum insured for the whole family.

Exclusions

  • Any illness/disease which occurs within first 30 days of the policy ( Not applicable on renewal )
  • Any pre existing illness i.e. any sickness or symptom of the same existing prior to effecting insurance and complications thereof.
  • Any dental treatment or surgery unless requiring hospitalization
  • All health checkups and any routine eye examination and cost of glasses/ lenses ,hearing aids, crutches, walker and similar expenses
  • Any expenses traceable to pregnancy/ child birth
  • Any expenses on vitamins and tonics unless necessitated by surgery / disease
  • Any expenses incurred for diagnosis etc not consistent with treatment for injury/ illness / disease
  • Circumcision, vaccination , inoculation, cosmetic or aesthetic treatment, plastic surgery unless necessitated by an accident
  • Convalescence, nervous breakdown, rest cure, congenital defect, venereal disease , insanity , intentional self injury and any disease resulting from use of drugs or liquor.
  • Naturopathy treatment
  • Voluntary medical termination of pregnancy
  • Exclusions for first year of policy for treatment of cataract, benign prostatic hypertrophy, hysterectomy for menorrhagia or fibromyoma, hernia , hydrocele, congenital internal diseases, fistula in anus, piles , sinusitis and related disorders unless such diseases are excluded as pre existing.
  • Ambulance charges, registration fees, medical records and other miscellaneous expenses. Injury or diseases directly or indirectly caused by or arising from or attributable to invasion, war (whether declared or not), act of foreign enemies.
  • Any medical treatment undergone because of intentional self injury or consumption of intoxicating drugs or alcohol.
  • Injury or disease directly or indirectly caused by or contributed to or by any nuclear weapon or materials.

Extensions

  • Floater Cover: Under this benefit the family members are also covered under the policy. Entire amount of sum insured can be claimed by any of the family members or one or more family members put together can claim up to the sum insured. Amount can be claimed for one or more hospitalization during the policy period.
  • Pre-existing disease: The policy covers any disease or ailment existing prior to the inception of the policy other than birth defects &/or any condition stated in exclusion related to AIDS/HIV positive cases.
  • 30-days exclusion waiver: Any medical expenses incurred during the first 30 days of inception of the policy are covered – by deleting exclusion clause Of the policy.
  • 1st year exclusion waiver: This is an extension wherein few diseases not covered under normal circumstances during first year of the inception of the policy will be covered.
  • Maternity Cover: This cover can be obtain wherein the maternity expenses for any female member are covered for a specified amount .The benefit can be allowed with or without 9 months waiting period.
  • Pre & Post Hospitalization Expenses: The policy covers relevant medical expenses incurred during period up to 30 days prior to hospitalization as well as during 60 days after hospitalization as a part of claim payable under the Policy.
  • Reimbursement of Ambulance Expenses: The policy covers reimbursement of ambulance expenses in case of any emergency only.
  • Domiciliary Hospitalization: can be covered under any of the following circumstances, namely: The condition of the patient is such that he/she cannot be removed to the hospital/nursing home or the patient cannot be removed to the hospital/nursing home for lack of accommodation therein.

Advantages

  • Single policy covering all risks in a shop.
  • Complete coverage at lower premium
  • Simple documentation
  • Saving on costs
  • Smooth functioning of the business
  • One stop shop / solution for the clients business related needs

Exclusions

  • Willful destruction of property by the following
  • Damage or destruction caused by war perils
  • Wear and tear
  • Atmospheric conditions

Are You Confuse...?

You are not getting which insurace policy will fit for you and your family, Dont't worry contact us our expert advisor help you in that.



Read more

Group Mediclaim Insurance Policy




Introduction

Health Care costs are high and getting higher. Who will pay your bills if you have a serious accident or a major illness? Most of the times we are unprepared for these difficult times, emotionally, as well as financially. Bajaj Allianz's Health Guard Policy protects you and your family in case you need expensive medical care. It also offers you cashless benefit & medical reimbursement for hospitalization expenses.

Scope of Cover

  • Policy covers reimbursement of hospitalization expenses incurred for diseases contracted or injuries sustained in India.
  • Pre – hospitalization: Medical expenses upto 30 days
  • Post – hospitalization: Medical expenses upto 60 days

Sum Insured

Sum Insured generally depends on the company or the group for which insurance is taken. The Popular limits are between Rs 100,000/- to Rs 500,000/- and it can be taken as separate for each of the family members or as Floater sum insured for the whole family.

Exclusions

  • Any illness/disease which occurs within first 30 days of the policy ( Not applicable on renewal )
  • Any pre existing illness i.e. any sickness or symptom of the same existing prior to effecting insurance and complications thereof.
  • Any dental treatment or surgery unless requiring hospitalization
  • All health checkups and any routine eye examination and cost of glasses/ lenses ,hearing aids, crutches, walker and similar expenses
  • Any expenses traceable to pregnancy/ child birth
  • Any expenses on vitamins and tonics unless necessitated by surgery / disease
  • Any expenses incurred for diagnosis etc not consistent with treatment for injury/ illness / disease
  • Circumcision, vaccination , inoculation, cosmetic or aesthetic treatment, plastic surgery unless necessitated by an accident
  • Convalescence, nervous breakdown, rest cure, congenital defect, venereal disease , insanity , intentional self injury and any disease resulting from use of drugs or liquor.
  • Naturopathy treatment
  • Voluntary medical termination of pregnancy
  • Exclusions for first year of policy for treatment of cataract, benign prostatic hypertrophy, hysterectomy for menorrhagia or fibromyoma, hernia , hydrocele, congenital internal diseases, fistula in anus, piles , sinusitis and related disorders unless such diseases are excluded as pre existing.
  • Ambulance charges, registration fees, medical records and other miscellaneous expenses. Injury or diseases directly or indirectly caused by or arising from or attributable to invasion, war (whether declared or not), act of foreign enemies.
  • Any medical treatment undergone because of intentional self injury or consumption of intoxicating drugs or alcohol.
  • Injury or disease directly or indirectly caused by or contributed to or by any nuclear weapon or materials.

Extensions

  • Floater Cover: Under this benefit the family members are also covered under the policy. Entire amount of sum insured can be claimed by any of the family members or one or more family members put together can claim up to the sum insured. Amount can be claimed for one or more hospitalization during the policy period.
  • Pre-existing disease: The policy covers any disease or ailment existing prior to the inception of the policy other than birth defects &/or any condition stated in exclusion related to AIDS/HIV positive cases.
  • 30-days exclusion waiver: Any medical expenses incurred during the first 30 days of inception of the policy are covered – by deleting exclusion clause Of the policy.
  • 1st year exclusion waiver: This is an extension wherein few diseases not covered under normal circumstances during first year of the inception of the policy will be covered.
  • Maternity Cover: This cover can be obtain wherein the maternity expenses for any female member are covered for a specified amount .The benefit can be allowed with or without 9 months waiting period.
  • Pre & Post Hospitalization Expenses: The policy covers relevant medical expenses incurred during period up to 30 days prior to hospitalization as well as during 60 days after hospitalization as a part of claim payable under the Policy.
  • Reimbursement of Ambulance Expenses: The policy covers reimbursement of ambulance expenses in case of any emergency only.
  • Domiciliary Hospitalization: can be covered under any of the following circumstances, namely: The condition of the patient is such that he/she cannot be removed to the hospital/nursing home or the patient cannot be removed to the hospital/nursing home for lack of accommodation therein.

Advantages

  • Single policy covering all risks in a shop.
  • Complete coverage at lower premium
  • Simple documentation
  • Saving on costs
  • Smooth functioning of the business
  • One stop shop / solution for the clients business related needs

Exclusions

  • Willful destruction of property by the following
  • Damage or destruction caused by war perils
  • Wear and tear
  • Atmospheric conditions
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