Infidelity of Employees: This clause provides coverage for any loss due to misappropriation or embezzlement by dishonesty or criminal act of the insured's own employee(s).

On premises: This clause provides coverage for loss &/or damage to insured's property including money and/or securities belonging to, or in the custody of bank due to various perils including Fire, Riot & Strike, Malicious damage, terrorist act, burglary ,theft ,robbery or hold-up. Whilst in the premises where the insured carries on business and other specified places which should clearly be defined while opting for this clause.                     

In-transit: This clause provides coverage for loss &/or damage to insured's property including money and/or securities if they are lost ,stolen, mislaid, misappropriated or made away with, whilst in transit to and from premises along the defined geographical area, in the hands of its employees whether by negligence or fraud of the employees.

Forgery and Alteration: This clause provides coverage for loss caused due to forgery or alteration (forgery means the forging or fraudulent alteration of any document or the uttering of any forged or fraudulently altered document by the employee(s) whereby one obtains possession of monies or goods.) It covers losses suffered as a result of payment of bogus, fictions, forged cheques or drafts as also forged endorsements on genuine cheques or drafts or FDRs.

Securities: This clause covers securities of the insured (Stock, Certificates, Bonds, and other Governmental guaranteed authority stocks etc.) whilst in insured premises or others due to loss &/or damage resulting from named calamities.

Counterfeit Currency: This clause provides coverage for loss resulting from the acceptance of counterfeit currency by the teller or other charged employee of the insured provided normal and standard procedures and precautions are fully exercised.

Office and Contents: This clause provides coverage for loss &/or damage caused by fire and other perils to the office. The contents of the insured's premises should specifically be named whilst opting for this coverage.                                                                                      

Hypothecated Goods : Covers losses suffered due to fraudulent or dishonest act of employees in respect of goods or commodities pledged or hypothecated to the insured bank and under its control.                                                                                     Registered

Postal Service : Covers loss of registered postal sending by robbery, theft or any other cause not specifically excluded, provided that each post parcel shall be insured with the post office.                    

Appraisers : Covers loss due to infidelity or criminal act on the part of appraisers, provided that such appraisers are on the bank's approved list.  

Agents : Covers loss due to infidelity of criminal acts on the part of Agents and pigmies Collectors.                                                                                                                                                                                 

The following additional perils can be covered on payment of an additional premium:

• Losses due to flood, inundation, hurricane, typhoon, storm, tempest, tornado and cyclone.
• Losses due to earthquake - Fire & Shock                                                    
• Separate sub-limits within the overall limit could be considered for other extensions, for instance, “Automated Teller Machines”, “Safe Deposit Vaults”, “Professional Indemnity” and “Computer Crimes”

The proposer has to select a basic sum insured which will apply to various sections of the policies. This sum insured should represent the maximum amount of loss which could be suffered by the bank due to any single incident covered under thru various sections . The sum insured under Section registered Postal service, Appraisers and Agents is fixed at a percentage of the basic sum insured.

Cancellation
There is no cancellation condition under this policy.

Bankers Blanket Bond (BBB) Insurance is a specialized form of insurance that provides coverage for banks and other financial institutions against a range of financial risks, such as employee dishonesty, robbery, forgery, computer fraud, and other criminal acts. Given the sensitive nature of financial institutions and the array of risks they face, this form of coverage is essential for their protection.

The Claim Process:

• Immediate Notification: Upon discovering a potential loss or any suspicious activity, notify your insurance company promptly. Early notification aids in quick resolution and investigation.
• Secure the Scene and Evidence: Whether it's a physical crime scene (e.g., after a robbery) or digital (e.g., after cyber fraud), ensure everything is preserved for investigation. This includes not tampering with evidence and restricting access.
• Document the Incident: Create a thorough report detailing the occurrence, including dates, times, involved parties, nature of the loss, and any other relevant details.
• Internal Investigation: Conduct an internal review to determine the scope of the loss and identify any possible lapses in security or protocol.
• Law Enforcement: For criminal activities, it's essential to involve the appropriate law enforcement or regulatory authorities.
• Submit the Claim: Fill out the claim form provided by your insurance provider, attaching all relevant evidence, internal reports, police reports, and any other necessary documentation.
• Insurer's Investigation: The insurance company might conduct its own investigation, possibly involving forensic accountants, cybersecurity experts, or other specialists.
• Resolution: Once the insurer has assessed the claim, determined its validity, and calculated the loss amount, they will process the claim payment, subject to policy terms, conditions, and deductibles.

• Policy Details: Have your policy number, terms, conditions, and contact details of your insurance provider ready.
• Detailed Incident Report: A comprehensive report of the incident, including how it was discovered, who was involved, the nature and extent of the loss, and any immediate actions taken.
• Photographic & Video Evidence: Visual evidence of physical crime scenes or damages.
• Electronic Logs & Digital Evidence: For cyber fraud or computer crimes, retain server logs, access records, transaction details, and any other relevant electronic evidence.
• Claim Form: Ensure you complete the insurer's specific claim form thoroughly and accurately.
• Witness Statements: Gather accounts from any witnesses or involved parties.
• Police or Regulatory Reports: Any reports or official documentation provided by law enforcement or regulatory authorities.
• Internal Investigation Results: Findings from your internal review, including any identified security lapses or protocol breaches.
• Communication Records: Document all interactions related to the incident and claim, such as communications with staff, the insurer, authorities, and any other involved parties.
• Financial Records: Relevant financial documents or transaction records that can validate the claimed loss.
• Security Protocols & Training Records: Proof of existing security measures, employee training, and compliance, which can support your claim and show due diligence.
• Recovery Efforts: Any efforts or measures taken post-incident to recover lost assets or funds.

Summary of cover

This policy covers loss or damage to the property insured whilst contained in the specified business or trade premises arising from:

• Theft consequent upon actual, forcible and violent entry into the premises
• Theft or any attempt thereat by a person feloniously concealed on the said premises
• Resulting of armed robbery
• Resulting in damage to the property insured and premises due to such Theft or any attempt thereat.

Premises mentioned shall not include any yard, garden, outbuilding, or other appurtenances unless specifically included in the schedule.

You can either insure your property on Full Value or First Loss basis:

• Full Value Basic

This basis is adopted when there exists a possibility of your entire property insured being stolen at any one time. You must ensure adequacy of the sum insured since the insurance will be subject to the Average Clause and you will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what you consider to be the highest value at risk at any one time.

• First Loss Basis

This basis is adopted when is it not possible for your entire property insured to be stolen at the same time. The sum insured shall be based on your assessment.

The following additional perils can be covered on payment of an additional premium:

• Riot & Strike

This poliy does not cover certain losses such as

• To goods held in trust/commission, jewellery, curios, title deeds, business books unless specifically insured.
• Recoverable under Fire/Plate glass insurance policy
• By abstraction from a safe using a key or duplicate key, unless it is obtained by violence or threat
• Due to shop lifting, acts involving you/your family members/ your employees
• Due to War perils, Riot & Strike (covered by payment of additional premium), Acts of God, Nuclear perils.

 This policy does not cover certain losses such as:

• The amount of the excess as specified in the policy document
• Gold or silver articles, precious metals and any other articles which are made of precious metals, medals, coins, sculptures, rare books of any kind
• Loss or damage caused by wear and tear or gradual deterioration
• Loss or damage caused by the sack, loot, pilferage, etc.
• Unexplained losses or damages due to errors, omissions
• Theft or attempted theft from open spaces, garden, yards, etc.; unless the contents thereof are specifically mentioned in the policy document
• Loss or damage directly or indirectly caused by or arising from any corruption, destruction, or distortion
• Goods held in trust, cash, jewellery, title deeds, business books, unless they are specifically insured
• Loss, damage, or expense of whatsoever nature directly or indirectly by any act of terrorism or war
• Loss or damage caused to insured property due to breach of trust or misfeasance by the insured
• Loss of money from safe following the use of the key unless such key has been obtained by violence
• Any loss or damage directly or indirectly happens to the premises from the nuclear weapon material
• Any loss or damage to glass, plate, or any decoration thereon
• Consequential loss or damage or legal liability of any type
• Loss or damage caused by loot, sack, spillage, or pilferage

Duration of cover is for one year. You need to renew your insurance policy annually.

You can either insure your property on Full Value or First Loss basis:

1. FULL VALUE BASIS

This basis is adopted when there exists a possibility of your entire property insured being stolen at any one time. You must ensure adequacy of the sum insured since the insurance will be subject to the Average Clause and you will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what you consider to be the highest value at risk at any one time.

2. FIRST LOSS BASIS

This basis is adopted when is it not possible for your entire property insured to be stolen at the same time. The sum insured shall be based on your assessment.   

Cancellation

You may cancel your policy by giving written notice to the insurer. Upon cancellation, you are entitled to a refund of the premium less premium based on our short period rates for the period of the policy which has been in force.

Burglary insurance provides coverage against property loss or damage resulting from theft or attempted theft accompanied by visible signs of forced entry or exit. This type of insurance is crucial for homeowners, renters, and businesses wanting to protect their assets and valuables.

The Claim Process:

• Immediate Action: If you discover a burglary, your first step should be to ensure your safety. If the burglar might still be around, leave the premises immediately and call the police.
• Notify the Police: Report the burglary to the local police or appropriate law enforcement agency. They will typically inspect the scene and create an official report.
• Document the Scene: Once it's safe, take photographs or videos of the affected areas, especially any signs of forced entry like broken windows or doors. Document any damages and items that were stolen.
• List Stolen/Damaged Items: Prepare a detailed inventory of all items that were stolen or damaged. Include descriptions, values, and, if possible, receipts or proofs of purchase for these items.
• Contact the Insurance Company: Notify your insurance provider about the burglary as soon as possible. They will guide you through the claims process, which may include filling out a claim form.
• Insurer's Assessment: The insurance company may send an adjuster to assess the damage and validate the claim.
• Submit Required Documents: Provide the insurance company with all necessary documentation, including the police report, photographic evidence, the list of stolen/damaged items, and any relevant receipts.
• Claim Settlement: Once the insurer has validated the claim and assessed the loss, they will process the payment, subject to policy terms, deductibles, and conditions.

• Policy Details: Keep your insurance policy number, coverage limits, and contact information for your insurance provider on hand.
• Police Report: Obtain an official report from the police detailing the burglary incident.
• Photographic/Video Evidence: Capture clear visuals of the scene, especially signs of forced entry and damages.
• Detailed Inventory: List all stolen or damaged items with descriptions, model numbers, serial numbers (if available), and their estimated value.
• Receipts/Proof of Purchase: Gather receipts, warranties, or any other proofs of purchase for the stolen/damaged items.
• Claim Form: Fill out the insurer's specific claim form accurately and thoroughly.
• Witness Statements: If there were any witnesses to the burglary or any suspicious activity, obtain their accounts.
• Communication Logs: Document any interactions with the insurer, adjusters, law enforcement, and other relevant parties.
• Repair Estimates: If there are damages to the property (like broken windows or doors), get repair estimates from qualified professionals.
• Security Measures: If you had security devices in place (like alarms or security cameras), provide their details and any potential footage of the incident.
• Prior Incidents: If there were previous burglaries or security issues at the property, document them as they could be relevant.

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Legal Cost
• Removal of Debris
• Liability of subcontractors carrying on behalf
• Strikes as provided in the Institute Strikes Clauses (Cargo)

This poliy does not cover certain losses such as

• Fire or accident has arisen on account of negligence of the insured.
• Such damage or loss has been caused due to negligence or criminal acts of the insured's servants.
• That the vehicle is damaged by fire or explosion or accident.
• That a claim in respect of the motor vehicle thereof is admitted under motor comprehensive insurance policy covering the vehicle.
• Liability in respect of damage to property belonging to insured or his employees or in his control
• Inherent defect or vice, wear and tear, deterioration, spontaneous combustion or decay of perishable goods.
• Consequential loss arising from loss or damage to goods
• Any consequence of riots, strikes, war, ionising radiations.
• Goods which may be illicit or illegal or smuggled

The coverage is usually provided for a period of one year.

The sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively.  

Premium may vary, depending on Limit of liability/Aggregate Limit for the period of insurance Any additional cover selected

Carriers Liability Insurance provides protection to carriers against their legal liability for loss or damage to goods in their custody during transit (by road, rail, air, or sea). This insurance is essential for transportation businesses, including shipping companies, trucking businesses, and courier services, among others. It covers liabilities arising due to factors such as theft, mishandling, fire, and other perils.

The Claim Process:

• Immediate Notification: In the event of an incident leading to potential liability, notify your insurance provider as soon as possible.
• Document the Incident: Make a detailed account of what happened, including dates, times, locations, and any involved parties or witnesses.
• Gather Evidence: Collect evidence such as photographs of the damaged goods, the carrier vehicle, and the environment where the incident took place.
• Obtain Statements: If there were any witnesses or relevant personnel, obtain statements from them regarding the incident.
• Police Report: In cases of theft or other criminal activities, file a report with the local law enforcement and get a copy for your records.
• Contact Affected Parties: Communicate with the owner of the goods about the incident and your intended course of action.
• Submit the Claim: Complete the insurance company's claim form, providing all the relevant details and attaching necessary documentation.
• Insurer's Assessment: The insurance company might send an adjuster or an investigator to evaluate the claim, especially if the value is high or the circumstances are complex.
• Resolution: Once the insurer has assessed and verified the claim, they will determine the compensation amount based on the policy's terms and limits.

• Policy Details: Ensure you have your policy number, terms, conditions, and contact information for your insurance provider at the ready.
• Detailed Incident Report: Document a comprehensive account of the incident, noting how the loss or damage occurred.
• Photographic Evidence: Capture clear images of the damage, the carrier vehicle, the loading/unloading process (if relevant), and any other pertinent details.
• Bill of Lading/Consignment Note: This is the document that details the nature, quantity, and destination of the goods being carried.
• Delivery Receipt: If the goods were delivered but were damaged upon arrival, the delivery receipt would usually have a note of this damage.
• Police Report: Obtain an official police report if the loss or damage resulted from a criminal act.
• Witness Statements: Document accounts from any witnesses or relevant staff involved in the transit or handling of the goods.
• Estimates of Damage: Get an estimate or invoice for repairing or replacing the damaged goods, preferably from a recognized or accredited entity.
• Communication Logs: Maintain a record of all communications regarding the incident and claim, whether with the client, third parties, or the insurer.
• Cargo Description: Detailed description and value of the damaged or lost cargo.
• Past Incidents: If there have been previous similar incidents or claims, having this information may be relevant to the current claim.
• Claim Form: Complete the claim form provided by the insurer accurately and in its entirety.

Non-payment by buyers due to:

• Insolvency
  
• Protracted Default (i.e. Late Payments)
• Political Risks – (Optional) – Example – buyers unable to pay due to difficulty in converting their currency as a result of government intervention.

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Claim payment direct to the insured’s lending institution.
• Debts falling due in the policy period.
• Coverage for inventory on consignment.

This poliy does not cover certain losses such as

• Wrongful or dishonest acts or omissions of the INSURED or its agents.
• Any material breach of or inaccuracy regarding any warranty or representations made herein, or failure to perform or to fulfill any warranty, covenant or agreement made herein by the INSURED.
• Insolvency or financial default of any party except the BUYER, or, if applicable, the guarantor.
• The failure of the INSURED or its agents to comply with all the material laws and regulations in connection with the GOODS INSURED.
• Sales made on terms of cash in advance, cash on delivery, and confirmed or
  unconfirmed irrevocable letter of credit.
• Any BUYER that as of the first day of the POLICY PERIOD is insolvent or more
  than sixty (60) days past due in any payment obligations to the INSURED unless the total aggregate amount of such past due payment obligations does not exceed the NON QUALIFYING LOSS amount. Payment obligations that are disputed in writing will not be considered past due for the purposes of this paragraph.
• Any receivables that are purchased or otherwise acquired by the INSURED from any other person or entity or sold or otherwise transferred by the INSURED to any other person or entity.
• Any company, proprietorship, partnership or entity that is related or associated party and any company, proprietorship, partnership or entity that controls, is controlled by, or is in common control with the INSURED.
• Any shipment made to the BUYER post notification from the bank that a cheque or other negotiable instrument issued by the BUYER remains unpaid for insufficient
• Name of the INSURED BUYER and or their Directors , Partners , Proprietors not to be listed under the Credit Information Bureau (India) Limited defaulter list ( Suit Filed Accounts / Willful Defaulters List) or any other Defaulter list as complied under the local regulations as applicable in the BUYER’S country

Policies are written on a 12-month basis

Covers the complete turnover with stipulated limits

Sell more to existing customers by offering them higher credit limits. Capture new clients and expand geographically by leveraging huge database. Banks find it very attractive if receivables are protected by Credit Insurance. Better interest rates and facility limits can be negotiated with banks as it reduces the risk of default.

Credit Insurance, also known as Trade Credit Insurance, is a specialized coverage that protects businesses against the risk of non-payment by their customers. It provides financial security and enables businesses to trade confidently both domestically and internationally. Here are some key points to understand about Credit Insurance:

• Risk Mitigation: Credit Insurance mitigates the risk of customers failing to pay their trade credit debts due to insolvency, bankruptcy, protracted default, or political events.
• Coverage Scope: The insurance covers both commercial and political risks. Commercial risks involve customer insolvency or default, while political risks encompass events like export restrictions, currency inconvertibility, and political turmoil in the buyer's country.
• Customizable Policies: Policies can be tailored to suit the specific needs of businesses, considering factors such as industry, customer base, geographic reach, and risk tolerance.
• Domestic and International Trade: Credit Insurance applies to both domestic and cross-border transactions, allowing businesses to expand their markets without undue financial exposure.
• Trade Facilitation: Having Credit Insurance in place can enable businesses to offer more flexible credit terms to customers, promoting sales growth.
• Credit Assessment: Insurance providers often assist businesses in evaluating the creditworthiness of potential customers, reducing the risk of dealing with unreliable buyers.
• Claims Process: If a customer defaults on payment, the insured business files a claim with the insurer. The insurer evaluates the claim and compensates the insured for the loss incurred due to non-payment.
• Premiums: Premiums are calculated based on factors like the amount of credit extended, historical loss experience, industry risk, and the quality of the insured's credit management practices.
• Supporting Growth: Credit Insurance can support a business's growth strategy by providing financial protection against unforeseen bad debt losses.
• Risk Management: Insurers often offer risk management services to help businesses identify potential credit risks and implement measures to reduce them.
• Financial Stability: Credit Insurance can enhance a business's financial stability by protecting its cash flow and accounts receivable.
• Debt Recovery: Some Credit Insurance policies include debt recovery services, where the insurer helps recover outstanding debts from defaulting customers.
• Credit Portfolio Monitoring: Insured businesses often receive ongoing monitoring of their customers' creditworthiness, enabling proactive risk management.
• Supplier Benefits: Having Credit Insurance can make businesses more attractive to suppliers, as it signifies a commitment to responsible credit practices.
• Global Economic Conditions: In times of economic uncertainty, Credit Insurance becomes even more crucial as businesses face heightened credit risks.
• Industry Variability: Different industries face varying levels of credit risk. Credit Insurance can help level the playing field by providing consistent protection.

Credit insurance, often referred to as trade credit insurance or business credit insurance, provides coverage to businesses against the risk of non-payment by their customers, typically due to insolvency, protracted default, or political risks. This insurance is particularly vital for businesses extending credit to their customers.

The Claim Process:

• Monitoring: Most credit insurers provide a platform or a system to monitor the creditworthiness of your customers. Regularly review and update this information.
• Immediate Notification: As soon as you become aware of an issue that might lead to a potential claim (e.g., a customer's insolvency), inform your insurance provider.
• Waiting Period: Most credit insurance policies will have a waiting period from the invoice's due date before a claim can be formally made. This period allows customers to settle late payments without triggering a claim.
• Submit the Claim: If the waiting period elapses and the customer still hasn't paid, fill out the claim form provided by the insurer. This form typically requires details about the transaction, the customer, and the nature of the default.
• Insurer's Assessment: The insurance provider will evaluate the legitimacy and value of the claim. They might request additional information or documents.
• Claim Settlement: Once the claim is verified, the insurer will process and pay the claim, minus any policy deductible.

• Policy Details: Have your insurance policy number, terms, conditions, and contact details of the insurance provider on hand.
• Unpaid Invoice: The original invoice that the customer hasn't settled.
• Proof of Delivery: Documentation that verifies the goods or services were delivered as per the terms of sale. This could be a delivery receipt or a service completion certificate.
• Payment Reminders: Copies of any reminders or letters sent to the customer requesting payment.
• Details of the Debt: A clear breakdown of the outstanding amount, including any interest or penalties if applicable.
• Customer's Financial Status: Any information regarding the customer's financial health or solvency, especially if insolvency is the reason for non-payment.
• Claim Form: Ensure the insurer's specific claim form is filled out completely and accurately.
• Communication Logs: Maintain a record of all communications regarding the unpaid invoice, especially any responses or reasons given by the customer for non-payment.
• Contract or Agreement: The original sales or service agreement that outlines the terms of sale.
• Credit Check Reports: If available, credit check reports or any other due diligence conducted before extending credit to the customer.
• Past Payment History: Details of previous transactions with the customer, especially if they have a history of late payments.
• Legal Action Documentation: If you've taken or are considering legal action against the customer, provide any relevant documents.

Employee theft Cover- It includes loss of securities, money or other property by theft or forgery by the employee of the company.

Premise Cover- It includes losses from destruction, wrongful abstraction, theft of securities or money from the policyholder’s premises by third-parties.

Transit Cover- It comprises of losses from disappearance, destruction of money or security outside the policyholder’s premise by a third-party.

Depositors Forgery Coverage: It includes losses or damages which arise due to losses from instruments like cheques which are fraudulently drawn by a third-party on account of the policyholder.

Computer Fraud Coverage: It comprises of losses which a policyholder has to endure due to computer fraud made by third-party along with the expenses which the policyholder has to incur due to a violation of computer.

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Business interruption
• Care custody and control cover
• Client liability
• Continuous cover
• Contractual penalties
• Court attendance costs
• Data reconstitution costs
• Erroneous funds transfer
• Extended discovery period up to 12 months
• Extortion
• Interest
• Investigation costs
• Legal expenses
• Loss investigator
• New subsidiaries
• Outsourcing
• Partners
• Public relations expenses
• Run off cover for ceased subsidiaries
• Telephone system fraud.

This poliy does not cover certain losses such as

• Unexplained losses
• War, terrorism and sabotage
• Loss of Income
• Loss due to theft or fraud of the company's partners
• Expenses incurred by defending or in engaging any legal cases

The coverage is usually provided for a period of one year.

Suminsured can be opted on individual names or positions basis or on blanket unnamed basis.

Commercial Crime Insurance is a specialized type of coverage designed to protect businesses against financial losses resulting from various forms of internal and external criminal activities. It provides a safety net against theft, embezzlement, fraud, forgery, and other illicit acts that could harm a company's financial health. Here are some key points to understand about Commercial Crime Insurance:

• Coverage Scope: This insurance covers a wide range of criminal acts, including employee theft, embezzlement, forgery, computer fraud, funds transfer fraud, and identity theft.
• Internal and External Risks: Commercial Crime Insurance addresses both internal risks posed by employees and external risks from third parties or hackers.
• Tailored Policies: Policies can be customized to suit the size, industry, and risk profile of the business. Coverage limits and types can be adjusted to match specific needs.
• Employee Dishonesty: The insurance protects against financial losses arising from fraudulent activities committed by employees, such as misappropriation of funds or inventory theft.
• Forgery and Alteration: Coverage extends to losses due to forged or altered financial instruments, such as checks or promissory notes.
• Computer Fraud: Businesses relying on digital operations are covered against losses resulting from unauthorized access, hacking, or manipulation of computer systems.
• Funds Transfer Fraud: Protection is provided if a cybercriminal impersonates an authorized employee to initiate fraudulent funds transfers.
• Client Fraud: Some policies cover losses caused by client fraud, where clients or customers engage in fraudulent activities against the insured business.
• Claim Investigation: Insurance providers often assist in investigating claims, helping businesses gather evidence and assess the extent of the loss.
• Risk Management: Insurers may offer risk management services to help businesses identify vulnerabilities and implement safeguards against potential crimes.
• Exclusions: Certain exclusions might apply, such as losses caused by intentional acts of the insured, losses due to normal business operations, or losses related to professional negligence.
• Employee Training: Adequate training of employees on security protocols and fraud prevention can complement the insurance coverage.
• Financial Protection: Commercial Crime Insurance helps businesses recover financially after falling victim to fraud or theft, reducing the impact on operations and profitability.
• Cost-Effective: Considering the potential financial losses resulting from crime, the cost of insurance premiums is generally considered cost-effective.
• Industry Relevance: Businesses across various industries can benefit from this insurance, especially those with sensitive financial data or valuable assets.
• Cyber Crime Trends: The increasing prevalence of cybercrime highlights the importance of protecting against digital fraud, making Commercial Crime Insurance more relevant than ever.
• Peace of Mind: With Commercial Crime Insurance in place, businesses can focus on growth and operations, knowing they have a safety net against potential financial losses.

Commercial Crime Insurance, sometimes referred to as Fidelity Insurance, provides businesses protection against various forms of internal and external criminal activities such as theft, embezzlement, forgery, fraud, and other related crimes. This coverage is crucial for safeguarding a business's assets against losses from dishonest or criminal actions.

The Claim Process:

• Immediate Action: Upon discovering an incident that might lead to a potential claim, ensure that the incident is fully documented. Depending on the severity, it might be necessary to involve law enforcement.
• Notify the Insurance Provider: As soon as an incident is discovered, inform the insurer promptly, even if you're not sure of the total extent of the loss.
• Internal Investigation: Conduct a thorough internal investigation to understand the full scope of the crime, the individuals involved, and any potential vulnerabilities in your systems that might have been exploited.
• Document the Loss: Compile all records and evidence pertaining to the incident, ensuring you have a comprehensive view of the financial impact and circumstances of the crime.
• Submit the Claim: Provide the insurer with a claim form, detailing the incident, the extent of loss, and any other relevant information.
• Insurer's Assessment: The insurance provider will assess the claim, possibly involving claims adjusters or investigators to verify the authenticity and value of the claim.
• Claim Settlement: Once the claim has been validated and assessed, the insurer will determine the compensation, considering policy limits, terms, and conditions.

• Policy Details: Your insurance policy number, terms, conditions, and the contact information of your insurance provider.
• Detailed Incident Report: A comprehensive account of the criminal activity, including dates, times, involved parties, and the discovery process.
• Financial Records: Detailed records highlighting the financial impact of the crime. This can include bank statements, cash register logs, transaction histories, etc.
• Evidence of the Crime: Photographic or video evidence, digital records, emails, or any other relevant data that supports the claim.
• Witness Statements: If applicable, gather statements from any employees, customers, or other relevant parties who can provide insight into the incident.
• Police or Law Enforcement Reports: If the crime was reported to the police or another relevant authority, provide official documentation or reports.
• Internal Investigation Report: A detailed report on the internal investigation, highlighting findings, involved individuals, and any potential system vulnerabilities.
• Past Incident Reports: If there were similar incidents or patterns of suspicious activity in the past, provide documentation or reports.
• Security Measures: Details of security measures in place at the time of the incident, such as security alarms, surveillance systems, access controls, etc.
• Claim Form: Ensure the claim form provided by the insurer is filled out accurately and completely.
• Communication Logs: Keep a record of all interactions regarding the claim, whether with the insurer, law enforcement, involved parties, or any other relevant entity.

• Personal injury includes discrimination, harassment and segregation (other than employment-related)
• Bodily injury includes humiliation, mental anguish, mental injury and shock resulting from physical injury.
• Advertising injury includes trademark infringement

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Products-completed operations hazard
• Medical Expenses Coverage.
• damage to premises rented to you
• sudden & Accidental Pollution Liability (excluding USA & Canada)
• Coverage for additional insured when required by written contracts
• Advertising Injury and Personal Injury Liability Coverage
• Vendors Endorsement
• Oral and written contractual Liability: bodily Injury/Property damage
• Product Recall
• Personal and Advertising Injury

This poliy does not cover certain losses such as

• Product recall
• Punitive damages
• Fines and penalties
• Motor vehicle liabilities
• Professional Indemnity
• Directors and Officers Liability
• Pure financial loss
• Employers liability
• Gradual pollution
• War, sabotage and terrorism
• Expected or intended injury
• Contractual Liability
• Worker’s Compensation and similar laws
• Pollution
• damage to your property
• damage to your product
• damage to your work
• Aircraft, Auto or Watercraft
• Personal and Advertising Injury
• Electronic data

• Denial of service attacks or inability to access websites or systems
• Unauthorized access to, use of, or tampering with data
• Disclosure of confidential data (invasion of privacy)
• Loss of data or digital assets (malicious or accidental)
• Introduction of malicious code or viruses
• Cyber extortion or terrorism threats
• Personal media injury (defamation, libel, or slander) from electronic content
• Regulatory action, notification, or defense expenses
• Crisis management and public relations expenses
• Data or system restoration
• Business interruption expenses

No deductible.Includes remediation expenses incurred that relate to security breach, privacy breach and data personal injury, as defined in the endorsement.

This poliy does not cover certain losses such as 

• Patent, software and copyright infringement
• Wars and invasions
• Failure in security measures
• Bodily injury and damage
• Loss of electronic device
• Vicarious liability
• Government Entity or Public Authority
• Specific Network Interruption Condition.

The financial liability extends to the amount necessary to compensate the building party considered a “builder of the work,” which includes contractors, architects, engineers and other professionals who contract with the building owner to work on the project to correct the defect and/or repair the collapse.

Watertightness of the roofs
Watertightness of the walls
Watertightness of the basement
Damages in previously existing buildings.
Automatic adjustment revaluation of the insured sums and deductibles

• Physical injuries or other economical damages different from the material damages guaranteed by Law
• Damages to buildings adjoining or adjacent to the building.
• Damages caused by changes or other works carried out in the building once the certificate of acceptance has been issued, except for the works to repair the known defects.
• Damages caused by bad use or inappropriate maintenance of the building.
• Expenses for the maintenance of the building once the certificate of acceptance is issued.
• Damages caused by fire or explosion, provided there is no fault or defect to the installations of the building.
• Damages caused by accidental cause, force majeure, act by third parties or the person harmed by this damage.
• Claims due to parts of the construction about which some reserves are recorded in the act of acceptation, while they are repaired and the repair works are recorded in the new act of acceptation signed by the signers of the previous act of acceptance.

The liability period commences at handover and is for a period of ten (10) years, or the intended life of the building, if less

100 % for structural damages, on the final cost of the material execution of the construction, including the professional fees, licenses and taxes.

Decennial Liability Insurance, also known as Latent Defects Insurance, is a unique form of coverage that addresses the long-term structural defects and problems that can arise in construction projects. It typically applies to large- scale infrastructure projects and residential buildings. Here are some key points to understand about Decennial Liability Insurance:

• Coverage Duration: Decennial Liability Insurance provides coverage for a period of ten years following the completion of a construction project. This extended coverage addresses defects that may not immediately manifest but become apparent over time.
• Legal Requirement: In some jurisdictions, Decennial Liability Insurance is a legal requirement for certain types of construction projects to ensure that the built structures meet safety and quality standards.
• Structural Defects: The insurance covers structural defects that could compromise the stability or safety of the building, such as foundation issues, roof problems, or structural failures.
• Construction Professionals: Contractors, architects, engineers, and other professionals involved in the construction project can be held liable for defects covered by this insurance.
• Third-Party Claims: The insurance provides coverage against claims from third parties, such as building owners or occupants, who might suffer financial losses due to covered structural defects.
• Repair and Compensation: If covered defects emerge within the policy's ten-year period, the insurance can cover the cost of repairs or provide compensation for financial losses incurred.
• Exclusions: Certain exclusions may apply, such as defects resulting from poor maintenance, wear and tear, design changes post- construction, or non-structural elements.
• Claims Process: In case of a covered defect, the policyholder typically needs to notify the insurer, provide evidence of the defect, and follow the insurer's claims process.
• Project Types: Decennial Liability Insurance is commonly associated with major construction projects like bridges, tunnels, dams, and residential complexes.
• Risk Management: The insurance incentivizes construction professionals to uphold high-quality standards, thorough inspections, and proper construction practices to minimize the risk of defects.
• Project Handover: The coverage period usually begins upon the project's handover or completion, regardless of when the project was initiated.
• Market Variation: Availability, terms, and costs of Decennial Liability Insurance can vary based on market conditions, project complexity, and jurisdictional regulations.
• Project Financing: Lenders and investors might require Decennial Liability Insurance as a condition for project financing, ensuring the long-term stability of the investment.
• Complex Claims: Claims under Decennial Liability Insurance can be complex and require detailed assessments of the nature and extent of the defect.
• Quality Assurance: Decennial Liability Insurance serves as a form of quality assurance for both construction professionals and project owners, promoting responsible construction practices.
• Contractual Obligations: Construction contracts often stipulate the need for Decennial Liability Insurance to safeguard the interests of all parties involved.

Decennial Liability Insurance, also known as "Inherent Defects Insurance" or "Structural Warranty Insurance" in some jurisdictions, primarily caters to the construction industry. This policy provides coverage for defects or damages that manifest in a building or structure, typically for up to ten years after its completion. It's particularly prevalent in countries like France, where it's a statutory requirement.

The Claim Process:

• Discovery of Defect: Once a defect or damage, which falls under the coverage of the decennial liability, is discovered, it should be documented with photos, descriptions, and any other relevant evidence.
• Notify the Insurance Provider: Contact the insurer as soon as the defect is discovered. This notification is essential to initiate the claims process.
• Independent Assessment: Typically, an independent expert or surveyor is appointed to assess the extent and cause of the defect or damage.
• Estimation: Once the issue has been identified and verified, an estimate of the repair costs will be prepared, often in consultation with contractors or other experts.
• Claim Submission: Submit the formal claim with all the requisite documentation to the insurer.
• Insurer's Assessment: The insurer will review the claim and the assessments, often working in tandem with their experts to determine the liability and extent of coverage.
• Claim Settlement: If the claim is validated, the insurer will arrange for the compensation, repair, or reconstruction as per the policy's terms.

• Policy Details: Your decennial liability insurance policy number and the insurer's contact details.
• Detailed Incident Report: A comprehensive written account of the defect or damage, highlighting when and how it was first noticed.
• Photographic Evidence: Clear photographs or videos that show the defect or damage, capturing its extent and location.
• Building Plans and Specifications: Copies of original building plans, specifications, and any related construction documentation.
• Contract Details: Details of contractors, subcontractors, architects, engineers, and other professionals involved in the construction.
• Independent Expert's Assessment: Report from the appointed expert or surveyor detailing the nature and cause of the defect or damage.
• Cost Estimates: Detailed estimates for repair or reconstruction, often obtained from construction professionals or contractors.
• Timeline: A timeline of events from construction completion to the discovery of the defect, and any subsequent actions taken.
• Previous Claims or Issues: If there were prior incidents or claims related to the same structure, provide their details.
• Claim Form: Complete the insurer's claim form accurately and in detail, ensuring all relevant sections are filled out.
• Communication Logs: Keep a record of all communications about the defect or issue, including those with the insurer, contractors, experts, or any other relevant parties.

D & O Policy is in Two Sections

The first Section protects the Directors personally when they cannot be reimbursed by the Company.

The second section protects the Company but only when they are able to reimburse the Directors or Officers.

The policy covers "wrongful acts" which includes actual or alleged error, act, misleading statement, breach of duty, omissions or misstatements while acting for the organization.

D&O policies are written on a claims-made basis.

The policy is on a ‘claims made’ basis. ‘Claims made’ means that Coverage will respond to incidents arising on or after the policy retroactive date and which are reported during the term of the policy.

• External Directorships
• Spousal Extension
• Employment Disputes
• Outside board cover (for associated companies) double excess basis - i.e. excess of other insurance, excess of other indemnity
• Entity coverage for security claims

This poliy does not cover certain losses such as

• Intentional illegal acts or illegal profits
• Criminal fraud
• Insured Versus Insured (IvI) claim
• Pollution exclusion - can be amended to provide shareholder cover and defense costs.
• Bodily injury/property damage
• Insider Trading
• Dishonesty or fraudulent actions (in fact or once proven)
• Professional Liability
• Fines, penalties and punitive damages
• Liability from pension funds
• Prior and pending litigation exclusion

Provides coverage for loss of money, securities, or other assets resulting from employee theft, computer fraud, forgery, loss of employee benefit plan assets, and more.

Non-employees like former employees, trustees, partners, directors, temporary employees, and seasonal employees can be included. Can extend coverage to certain other non-employees who may have the opportunity to commit theft, such as equipment support technicians, consultants, and vendors.

-Acts committed by Principals, partners, directors or representatives (other than an employee). Company owners and principals (like directors) are not employees.
-Legal Expenses Fees or expenses related to any legal action, such as a lawsuit
-Inventory Shortages Shortages of inventory if proof of the loss is based solely on an inventory or profit and loss calculation.
-Trading Losses Losses resulting from trading (due to poor investments decisions etc.)
-Indirect Loss Loss of income you could have earned by investing money, securities or other property if the loss had not occurred.

EPLI provides coverage for legal costs, settlements and judgments that arise from claims of:

• Discrimination, based on age, race, gender and other factors.
• Sexual harassment.
• Wrongful termination—including constructive discharge, in which an employee resigns as a result of the employer creating a hostile work environment; and retaliatory discharge, in which an employee is fired as punishment for engaging in a legally protected activity.
• Breach of employment contract.
• Infliction of emotional distress or mental anguish.
• Failure to employ or promote.
• Wrongful discipline or demotion.
• Mismanagement of employee benefits.
• Defamation.
• Privacy violations.
• Violation of the Family Medical Leave Act or other such laws.

Some policies contain a catch-all category to provide coverage for claims of discrimination based on protected categories (e.g., sexual orientation) that are not covered under federal discrimination statutes, but may be covered by state or local law.
EPLI coverage can also protect the business owner from meritless claims brought by disgruntled employees.

Violations of the National Labor Relations Act, the Worker Adjustment and Retraining Notification Act, Occupational Safety and Health Act (OSHA), and the Employee Retirement Income Security Act (ERISA), as well as claims arising under workers compensation laws. EPLI also will not cover punitive damages or claims resulting from criminal acts. Privacy violations caused by a computer breach also may not be covered by EPLI.

• It provides gradual and sudden & accidental pollution for events such as fire, explosion or sudden spill, as well as seepage over time.
• It covers third party clean-up expenses, bodily injury and property damage arising from a pollution event
• It covers first party clean-up expenses.
• It covers pollution from waste materials.

• Terrorism
• War
• Prior Knowledge
• Damage that was intended or should have been reasonably expected by the insured
• Damage to the insured’s own property, whether rented or owned
• Bodily injury to any employee of the insured
• Damages resulting from willful non-compliance with the law

• Policy will provide coverage against all the expenses incurred by the event organizers to facilitate such event had the loss not occurred.

• National Mourning Non - appearance of a performer

This poliy does not cover certain losses such as

• Unexplained losses
• War
• Terrorism
• Sabotage

Event Cancellation: Protection from losses due to Cancellation of any event. This section also covers the additional costs or charges incurred by you to avoid or diminish a loss payable under the policy.

Public Liability: Provides cover for third party liabilities (bodily injury / property damage) arising during the course of the Event by an Accident in the Premises where it is held.

Cash in Transit and Safe: Protection against loss In transit of money while carried by you or your Employees or from a Safe or Strong room, caused during the course of the event insured Period by Robbery, theft or any other fortuitous event.
Personal Accident: Cover against Accidental Bodily Injury resulting in death or disability of the named persons in the policy during the course of the event.

Props, Set, Stage and Equipments: Cover for loss of or damage to the props, set, stage, equipments arising out of Fire and Allied Perils.

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Non-Owned Hired Auto
• Liquor Liability
• Inland Marine

This poliy does not cover certain losses such as

• Non-appearance of any person or group(s) of persons.
• The Insured's lack of care, diligence or prudent behaviour
• Lonising radiations
• Any communicable disease or threat or fear of communicable disease
• Any fraud, misrepresentation or concealment by the Insured
• Actual or threatened war or warlike conditions
• Seepage and/or pollution and/or contamination
• Acts of God, earthquake, earth-tremor, volcanic eruption, flood, storm, tempest, typhoon, hurricane, tornado, cyclone or other similar acts or convulsions of nature and atmospheric disturbances.
• Deliberate, willful or intentional non-compliance of any statutory requirements.
• Fines, penalties, punitive or exemplary damages or any other damages resulting from the multiplication of compensatory damages, or arising out of any criminal liabilities
• Consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, terrorism, insurrection or military or usurped power

The policy period covers the full event period but can also be extended as per requirements of the assured.

The sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively

Premium rates are based on: Gross receipts from the event Duration of the event Whether the event is held in the open or not Celebrity attendance Number of participants Professional experience of the organizers

Event Liability Insurance provides coverage for damages or injuries that might occur during an event. This includes injuries to attendees or damages to the venue or third-party properties. Event planners or hosts typically purchase this type of insurance to protect themselves from the potential legal and financial consequences of such incidents.

The Claim Process:

• Incident Occurrence: Should an incident occur during the event that may lead to a claim (like a guest's injury or damage to the venue), the event host or planner should document it immediately.
• Immediate Notification: Contact the insurance provider as soon as possible to inform them about the incident. Some policies have strict notification timelines.
• Document Everything: Take photographs, gather witness statements, and document any other pertinent details related to the incident.
• Seek Medical Attention if Needed: If someone is injured, ensure they receive the necessary medical attention. Retain all related medical reports and bills.
• Claim Submission: Submit a detailed claim to the insurance provider, including all supporting documentation.
• Insurer's Assessment: The insurance company will review the claim. They might send an adjuster or investigator, particularly for larger or more complex claims.
• Settlement: If the claim is validated, the insurer will handle the necessary payments, either to the injured party, the venue, or both, depending on the incident's nature.

• Policy Details: Your Event Liability Insurance policy number and your insurance provider's contact information.
• Detailed Incident Report: A comprehensive account of what happened, including dates, times, locations, and a step-by-step breakdown of the incident.
• Photographs: Visual evidence can be crucial. This includes photos of where the incident occurred, any damages, and any conditions that might have contributed to the incident.
• Witness Statements: Collect names and contact details of any witnesses, along with their accounts of the incident.
• Medical Reports & Bills: If someone was injured, include their medical reports, treatment details, and associated costs.
• Repair Estimates: For property damage, provide estimates or invoices for repairs.
• Event Details: Details about the event itself, including the type of event, number of attendees, and any contracts or agreements, especially if they relate to safety or venue provisions.
• Communication Records: Any relevant communications, such as emails, messages, or written correspondences related to the incident.
• Safety & Precautionary Measures: Details of any safety measures implemented before the event, such as security arrangements, warning signs, or safety briefings.
• Claim Form: Complete the specific claim form provided by the insurer, ensuring all sections are filled out accurately and comprehensively.
• Other Relevant Documentation: Any other information or documentation that could support the claim or provide further context.

The cover provided includes reimbursement for loss resulting from:

• Dishonesty,fraud,loss of property,loss from loans or trading committed by an employee for improper personal financial gain.
• Theft of property by computer fraud and the theft of funds from the insured’s transfer account at a financial institution are also indemnified. In addition, defence costs, judgments and settlements are accommodated by the terms of the contract.

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Suppression of facts at the time of taking the policy
• Loss due to non-observance or relaxation of system of checks and precautions.
• Losses discovered after more than 12 months after the termination of the service of employee concerned.
• Inventory losses
• Any loss resulting directly or indirectly from trading in securities
• Consequential losses of any kind
• Legal Liability arising out of the act of the employee

• Loss or damage to cargo, containers, vessels or vehicles belonging to other party
• Coverage to transport equipment belonging to other party
• Liability against third parties
• Error and Omission

• Errors and Omissions due to any negligent act of policy holder,agent or subcontractor
• Thridparty Legal Liability for the bodily injury or physical loss or damage caused
• Warehouseman's Legal Liability
• Loss or damage to goods which are carried on theirown or leased vehicle,further policy offers coverage of loss or damage arise due to loading and unloading the cargo

• Arising out of any award against or any other person for whose conduct are liable for punitive, exemplary or multiple damages.
• Resulting from insolvency or financial default.
• Arising out of involvement in the operation or management of a ship or aircraft.
• Arising from involvement in dredging operations or the dumping of spoil therefrom.
• Arising out of the operation or use of a dump site, land-fill operation or from the disposing of waste
• Resulting from waiving your rights of recourse against any other party, to the extend that such liability has been enhanced by the waiver, unless agreed to by us in writing.
• Resulting from any deliberate, reckless or wilful conduct by which enhances the likelihood of increasing loss, damage liability or expense beyond that which would otherwise have existed.
• Arising from loss to third party property held in your care, custody and control as a result of accounting errors or unexplained disappearances and/or shortages revealed only after taking inventory or other method of taking stock.
• Loss, liability, damage or expenses caused by or contributed nuclear or radio active weapon
• Terrorism
• War,confiscation and Strikes

This policy basically covers the stock, merchandise and bank notes used in the conduct of the Assured's Business as well as Trade and Office Furniture,Fixtures,Fittings, Machinery, Plant, Safe, Alarm Systems, Tenants Decoration and all other Improvements and contents of the Assured's property

• Ransom and extortion payment
• Loss in-transit payment
• Business interruption
• Unlimited response consultant expenses
• Death or dismemberment benefits arising from a covered incident
• Additional expenses (e.g. travel, medical)

Exclude dishonest, criminal, or fraudulent acts committed by and insured person. It can also exclude the surrender of property inside the premises unless first brought inside after receipt of the ransom demand, or outside the premises as a result of a threat to do bodily harm to a person in possession of property.

Damages and claimant costs awarded against Insured
-Defence (i.e. legal) costs
-Investigation costs
-Civil fines & pecuniary penalties.

-Cyber privacy and confidentiality extension
-Emergency defence costs Extension
-Specific public relations expenses extension
-Breach of contract defence costs extension
-Tax audit expenses extension
-Work health and safety extension
-Contractual liability defence costs extension

Contractual liability
Tax audit costs for failing to comply
Claims by the company itself
Employee entitlements
Employee reinstatement

The coverage is usually provided for a period of one year.

Depending on exposure, the proposer has to fix two limits of indemnity under the policy:
Any One Accident (AOA)
Any One Year (AOY)

Management Liability Insurance, sometimes referred to as Directors and Officers (D&O) Liability Insurance, protects directors, officers, and managers of a company against legal claims that may arise due to their actions or decisions in their managerial roles. It can also encompass other components like Employment Practices Liability, Fiduciary Liability, and others, depending on the specifics of the policy.

The Claim Process:

• Identification of a Potential Claim: Once a director or officer becomes aware of a potential or actual claim (e.g., a legal complaint, a regulatory investigation, or even a verbal threat of a lawsuit), it's essential to recognize it and act accordingly.
• Immediate Notification: Inform the insurance company as soon as possible. Even if there's just a potential for a claim, early notification can be critical, especially since many management liability policies operate on a claims-made basis.
• Provide All Relevant Information: Share all details about the claim or potential claim with the insurer. This might include a copy of the lawsuit, any correspondence, or relevant internal documents.
• Cooperate with the Insurer: During the assessment and defense process, the insurer may need further information or ask the insured individuals to participate in interviews or other processes.
• Claim Assessment: The insurer will evaluate the claim, verify its validity, and determine if it falls within the policy's coverage.
• Defense and Resolution: If the claim is covered, the insurer will often coordinate and pay for the legal defense. If a settlement is reached or if damages are awarded by a court, the insurer will handle the payments, subject to policy limits.

• Policy Details: Your Management Liability Insurance policy number and the contact information of the insurer.
• Detailed Incident Report: A comprehensive description of the situation leading to the claim, including dates, involved parties, and a summary of the alleged wrongful acts.
• Legal Documents: If a lawsuit has been filed, provide all related documents like the complaint, summonses, or any other related legal correspondence.
• Internal Documents: Any internal memos, minutes of meetings, emails, or other documents that could be relevant to the claim.
• Timeline: A chronological account of events leading up to and following the claim's incident.
• Witness Information: Names and contact details of anyone who might have relevant information concerning the claim.
• Communications: Records of any communications, both internal and external, relating to the claim.
• Financial Records: If the claim relates to financial wrongdoing or misrepresentation, relevant financial documents might be necessary.
• Prior Notices: If there have been any prior notices of the claim or potential incidents, provide details about them.
• Claim Form: Depending on the insurer, there might be a specific form to be completed when notifying about a claim.
• Any Other Relevant Information: This can include any other pieces of information that might help in understanding, defending, or mitigating the claim.

Legal Liability to pay Compensation for the Death or Bodily or Mental Injury of Patients due to Negligence, Error and Omission in rendering Professional services Expenses (Court Charges, Lawyers Fee etc) for defending suites against you

Cosmetic surgery/Plastic surgery done for cosmetic purposes only & not re-constructive/surgery alone

Emerging Risks AID's Exclusion Genetical Damages in connection with X - Rays and other Radiation Machines

Policy covers against all sums which you shall become legally liable to pay as damages due to a negligent act, error or omission committed resulting in:

• Any death
• Bodily injury
• Pain and suffering

Coverage of illegal conduct, sexual improprieties, items misrepresented on the application for insurance, hospital or laboratory administration and records alteration.

• Money in premises
• Transit of earnings, wages and petty cash
• Direct transit of collections
• Transit of collections with stopover

Foreign currency can be specifically declared and covered under the Policy. In case the money carrying employee is assaulted during burglary or holdup resulting in death /bodily injury / physical separation of a limb or the loss of an eye or causing him to be prevented from engaging in his usual employment, the Company shall pay such employee

• Shortage due to error or omission
• Riot, strike, civil commotion unless specifically agreed for Terrorism
• Unexplained losses and mysterious disappearances
• Loss or damage due to flood, cyclone, earthquake and other convulsions of nature, war and war like operations
• Loss or damage arising out of use of key(s) to safe(s) or strong room unless such keys are obtained by force or threat
• Money entrusted to any person other than the Insured or an authorised employee
• Legal liability, consequential loss, theft from an unsecured vehicle and consequential loss
• Money entrusted to a carrier
• Loss due to any act in which the Insured, his/her family member/lemployee is involved as principal or party except dishonesty of cash carrying employee where specifically covered
• Such dishonest activity of cash carrying employee shall be discovered within 48 hours.
• Money carried under contract of affreightment

This policy covers all sums (inclusive of defense costs) which the insured becomes legally liable to pay as damages as a consequence of:

• Accidental death/ bodily injury or disease to any third party
• Accidental damage to property belonging to a third party arising out of any defect in the product manufactured by the insured and specifically mentioned in the policy after such product has left the insured's premises.

• Duty to Defend and Reimbursement Coverage
• Worldwide territory and jurisdiction
• Defense Costs in addition and Defense Costs Inclusive coversFlexibility to add your buyer / reseller as Additional Insured / Named Vendor under scope of the policy
• Claims made and Occurrence based wordings

• Costs arising out of recall of any product Deliberate, willful or intentional non-compliance of any statutory provision.
• Arising out of pure financial loss
• Arising out of fines, penalties, punitive and/or exemplary damages
• Punitive damages
• Fines and penalties
• Motor vehicle liabilities
• Professional Indemnity
• Directors and Officers Liability
• Employers liability
• Gradual pollution
• War, sabotage and terrorism

Product recall has two parts, Coverage A, First Party Expenses and Coverage B, Third Party Liability.

Coverage A covers the following Direct Expenses associated with your product recall:
-Cost associated with notifying customers
-Shipping Cost
-Extra warehouse and storage expense
-Actual cost to dispose of the products
-The cost of extra personnel required to conduct the recall

Coverage B covers damages of a third party sustained due to a product recall attributable to your product. This covers your legal obligation to pay compensatory damages. Costs include but are not limited to:
The recall expenses of any third party for the recall of any product that incorporates your product including the cost to repair or replace such product
Business Interruption losses of others resulting from the covered incident

The cost to repair and rehabilitate brand reputation
The additional cost to purchase substitute goods to replace your products.

• Increased cost of working after a recall
• Extortion demands related to Malicious tampering/adulteration
• Terrorism cover
• Consultancy costs
• Government recalls
• Business interruption
• Loss of gross profits/revenue

• Will not pay for Product Recall Expense Liability for the cost or expense arising out of the failure of Your Product(s) to accomplish their intended purpose.
• Will not pay for Impaired Property Expense
• Arising out of the natural deterioration, decomposition or transformation of chemical structure except as a result of error or omission in the manufacture of the products.
• Arising out of any pre‐existing condition or situation that you knew or should have known of prior to the initial attachment of coverage under this Policy or any predecessor Policy issued by us or any affiliated companies, which could cause a Covered Incident.
• Arising solely as a result of intervention by any governmental or public authority

This policy covers against amounts you are legally liable to pay as

• Damages to third parties due to a negligent act.
• Compensation for accidental death or bodily injury
• Damage to or loss of property
• Legal costs associated with the above claims

On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely

• Natural calamities like flood, earthquake etc.
• Transportation Risk
• Working away from the business premises
• Sudden and accidental pollution
• Liability for plant and equipment whilst in use as tools of trade

This poliy does not cover certain losses such as

• Use of plant and equipment
• Motor vehicle liability
• Off shore works
• Product liability
• Professional Indemnity
• Directors and Officers Liability
• Pure financial loss
• Employers liability
• Gradual pollution
• War, sabotage and terrorism

This policy broadly covers:
Bodily injury and / or death of any patient caused by or alleged to have been caused by error, omission or negligence in professional service rendered or which should have been rendered by the insured doctor
Legal costs and expenses

-Claims preparation costs
-Contractual liability extension
-Court attendance costs
-Dishonesty extension
-Estates and Legal representatives extension
-Extended notification period
-First party copyright infringement
-Inquiry costs extension
-Intellectual property including Breach of confidentiality extension
-Joint venture extension
-Libel, slander and defamation extension
-Limitation of liability contract extension
-Loss of documents extension to full policy limit
-Loss mitigation and fee recovery

-Criminal acts
-Acts committed under Influence of intoxicants / narcotics
-Weight reduction
-Plastic surgery
-HIV / Aids
-Non compliance with statutory provisions
-Punitive and exemplary damages
-Radioactivity

The coverage is usually provided for a period of one year.

Depending on exposure, the proposer has to fix two limits of indemnity under the policy:
Any One Accident (AOA)
Any One Year (AOY)

Premium chargeable depends on the:
-Risk Group/Profession
-Limits of indemnity selected
-Ratio of limits

The policy covers the monetary amounts, including defense costs, that you are liable to pay to a third party following an action brought against you for any

• Negligent Act
• Negligent Error
• Negligent Omission
• Negligent Breach of Trust
• Negligent Breach of Professional Duty
• Negligent Misrepresentation

• Loss of documents
• Libel, Slander, Defamation
• Unfair competition
• Unintentional Breach of confidentiality
• Unintentional Breach of copyright or patent infringement
• Misstatement or misrepresentation
• Employers Practice Liability
• Dishonesty of employees

• Any Circumstances you know of at inception
• Any Wrongful Act, Error or Omission that took place prior to the Retroactive Date
• Any Dishonest, fraudulent or malicious acts
• Contractual Liability unless attached in the absence of the contract
• Liability for bodily injury or property damage
• Fines, Penalties, Punitive or Exemplary Damages
• Liability to shareholders
• Liability for financial risks (i.e. Depreciation in investments)
• Liability in respect of pollution
• War, sabotage and terrorism

• Infidelity of employees (dishonest/fraudulent act).
• Loss of securities/cash/property.
• Incomplete transactions.
• Forgery.
• Legal fees/cost of defence.
• Errors and omissions (third party/clients) with excess.
• Proprietary trades (covering errors and omissions for rate only) with excess and limits.
• Computer crime indemnity computer systems, electronic computer instructions, electronic data and media communications, insured service bureau operations transmissions and e-securities, computer virus, verification reconstruction expenses.
• Demat securities trading and settlement, etc.

• Intermediary cover.
• Branches cover.
• Book-building cover.

Liquidated damages – damages that are specified and agreed in the contract for example penalty clauses for late completion.

Criminal fines and punitive damages

Claims brought outside the jurisdiction show in the policy

Circumstances that may lead to a claim that the insured was aware of at the inception of the policy

Claims arising from the dishonesty of the insured

Claims arising before the retroactive date in the policy

Liability assumed under contract that would not normally attach to the insured in the absence of the contract

Tour operator passenger liability insurance covers the following:

• Illness, injury or death.
• Loss of, or damage to, property.
• Interference with or loss of enjoyment of Property as a result of obstruction trespas or nuisance

Cross Liability Food and Drink Liability Guests Liability extension Sudden and Accidental Pollution First Aid and Medical Expenses Liability

Toxic Mold Professional Liability Medical Malpractice Fines, penalties,punitive and exemplary damages Airside Liability Sexual Harrasment/Molestation

This insurance covers:

• Third-Party Liability: Protection against bodily injury, death, or property damage to third parties due to accidents involving the insured vehicles.
• Passenger Liability: Coverage for bodily injury or death of passengers traveling in the insured vehicles.

Extensions can include:

• Legal Expenses Coverage: Protection against legal costs related to defence against liability claims.
• Cargo Liability: Coverage for damage to or loss of cargo being transported.
• Personal Accident Cover for Drivers: Compensation for injuries or death sustained by drivers.

Exclusions might involve:

• Accidents caused while the driver is under the influence of alcohol or drugs..
• Damage to vehicles due to wear and tear or mechanical breakdown.
• Claims resulting from illegal activities or racing.

The policy usually spans a year, necessitating annual renewals to maintain continuous coverage.

The sum insured is determined based on factors such as the number of vehicles, vehicle types, cargo value, and passenger capacity.

• Transportation businesses vary in nature, from freight carriers to passenger transport services, so policies can be customized accordingly.
• The insurance can be particularly crucial for businesses operating in densely populated areas or engaged in long-distance travel.
• Adequate training and safety measures for drivers can help prevent accidents and reduce the risk of claims.
• Regular maintenance and adherence to safety regulations can positively impact premium rates.
• Effective communication with the insurance provider is important to ensure accurate coverage for the range of vehicles and services provided.

Workmen's Compensation covers:

• Medical Expenses: Covers medical treatment costs for work-related injuries or illnesses.
• Lost Wages: Provides compensation for lost wages due to temporary or permanent disability.
• Offers financial support to the family of an employee in case of accidental death.

Extensions might include options for:

• Additional Medical Coverage: Extending coverage to include non- work-related medical expenses.
• Disability Enhancements: Offering higher compensation for more severe disabilities.
• Repatriation: Coverage for transporting the body of a deceased employee to their home country.

Exclusions could involve:

• Injuries Outside of Work: Injuries that occur outside of work hours or away from the workplace might not be covered.
• Intentional Acts: Injuries caused intentionally by the employee might be excluded.