Engineering Insurance
The purpose of these Engineering Underwriting Guidelines is to provide the following:
- A definition of Engineering Business.
- Our underwriting philosophy and risk acceptance criteria.
- The rules by which this business is to be underwritten.
Products
House Holders Policy
Risks Covered
This policy covers the portable electronic equipment from the risks of:
- Fire, explosion, lightning.
- Riots, strike and terrorist activity.
- Burglary / theft.
- Accident
- Electrical and mechanical breakdown.
Exclusion
Portable equipment insurance is subject to exclusions arising from:
- Manufacturing faults or defects.
- Loss due to climatic conditions./li>
- Cost of maintenance.
- Loss or damage for which insured is contractually liable.
Burglary Insurance
This policy is suitable for people who have movable household property ( clothes, appliances and other personal effects etc) which are prone to burglary, theft and larceny.
Product Liability insurance
The policy offers the benefit of retroactive period on continuous renewal of policy where by claims reported in subsequent renewal but pertaining to earlier period after first inception of policy, also become payable.
Scope
The defect in the product may be a manufacturing defect or may even be due to faulty packaging, delivery specifications or instructions as to use of the product.
ALL RISK INSURANCE
This policy is suitable for people owning jewellery or valuables, which are prone to accidental loss or damage.
PROFESSIONAL INDEMINITY INSURANCE
This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service.
The policy offers a benefit of retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of the policy, also become payable.
PLATE GLASS INSURANCE
Any person who installs plate glass of substantial value can avail of this policy. This policy covers all kinds of accidental breakages of fixed plate glass like window glasses, show room glasses, etc.
Money Insurance
This policy is intended to protect banks, industrial business establishments etc against loss of money.
SHOPKEEPERS INSURANCE
this IS A Package policy specially designed for small shopkeepers. It is a single policy combining the various insurance requirements of shopkeepers.
FIDELITY GUARANTEE INSURANCE
This insurance policy protects the employer from risks presented by any of his employees such as fraud, dishonesty, embezzlement during the course of employment. In industries where secrecy and confidentiality of operations is vital for a company's success, this policy will ensure the concealment of business procedures from other competitors who may be successful in poaching their rivals' employees.
Standard fire & special perils policy
This policy is taken to insure a specified risk which could be any or all of the following building, furniture & fittings, stocks, plant and machinery and any other other specified fixed assets.
AIR TRANSIT INSURANCE
This insurance policy is ideal for the buyer / seller / financier of the goods as well as any person bearing a reasonable expectation of acquired interest in the goods.
Public liability insurance
This insurance covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury, loss or damage to the property belonging to a third party. The legal cost and expenses incurred in defending the case with prior consent of the insurance company are also payable subject to certain terms and conditions.
WORKMEN COMPENSATION INSURANCE
This insurance policy is essential for each and every employer, either as the principal or the contractor who engages "workmen" as defined by the Workmen's Compensation Act to cover his liability towards them under statutory and Common Law. This insurance policy protects the insured party from legal liabilities against injury or death of any of his employees who is a "workman" as defined by the Workmen's Compensation Act.
JWELLERS BLOCK POLICY
This policy is essential for all jewelers and jeweler establishments, keeping in mind the specific requirements of their trade.
OFFICE PACKAGE INSURANCE
This is a package policy designed to cater for the complete insurance requirement of an office. It is single policy covering various contingencies faced by offices, which are normally covered as separate policies.
