Corporate Insurance

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Once a business is incorporated, the risks that come with it are plenty and sometimes frequent. Even before you hire the first person for your firm and even before you can set up your office, a business gets exposed to certain kinds of risks because one small mistake can cause the entire business to wipe out. Fortunately, there are measures you can take to stop that from happening. There are a host of insurance options you can get to ensure the safety of yourself, your business, your employees and your customers. Here are the most common ones.

Group Health Insurance Policy

A group health insurance policy offers coverage to a group of members, usually a group of employees or members of an organisation. if offered by an organisation, the premium for this plan is paid by the organisation itself.

Group Personal Accident Insurance Policy Features

Accidents, many times, create serious financial issues for the injured and their dependents. In order to cover such mishaps of employees, corporates can take Group Personal Accident Insurance Policy. This policy provides complete cover in the event of death or disablement of the insured due to accidents.

Key Benefits

Accidental Death

  • 100 per cent of the sum insured on accidental death of the insured person

Permanent Total Disability

  • 100 per cent payment of sum insured on permanent total disablement
  • 100 per cent payment of sum insured in the event of loss of two limbs/ two eyes or one limb and one eye
  • 50 per cent payment of sum insured in the event of loss of one limb or one eye

Permanent Partial Disability

  • Specified percentage of the sum insured will be paid in case of permanent partial disability

Temporary Total Disability

  • One per cent of capital sum insured will be paid per week in case of total disability (sum not exceeding Rs. 5,000 per week, for a maximum of 100 weeks)

​Additional Coverage/Features

This policy also has some value added benefits -

 Carriage of Mortal Remains

  • A lump sum of two per cent of capital insured will be paid for transportation in the event of accidental death outside the residence (subject to maximum of Rs. 2,500).

Medical Expenses Extension

  • Policy can be extended to cover medical expenses on the payment of extra premium.
  • Get benefit up to 40 per cent of the compensation paid in settlement of a valid claim under the policy or 20 per cent of the relevant sum insured, whichever is less).

Property insurance: This policy covers loss of property due to earthquake, fire and other perils like storm, tycoon, flood, inundation, riot, strike, and malicious damage.

Professional liability insurance: This insurance policy comes into action to protect your business from any negligence or certain mistakes. It is also known as Error and Omissions Insurance. Industries or Organizations that deal with finance, accounting, consultancy, healthcare, and law, this type of insurance is mandatory for them.

Workmen Compensation Insurance: Workmen Compensation Insurance covers medical treatment expenses and provides repayment to workers in conditions of death or disability during their working hours.

Product Liability Insurance: This insurance policy caters to the manufacturing units covering their losses against any eventuality happening in case of product’s manufacturing defects.

Business Interruption Insurance: This policy covers losses against the interruptions happening in business due to various un-avoidable reasons.

Marine Insurance: Marine insurance is necessarily concerned with overseas trade. There is a trade, which involves the transportation of goods  from one place to another by ships, rail or road. Now this transhipment of goods from one place to another has its fair share of risks. That’s why it becomes essential to secure these goods. Besides, marine insurance is vital as it delivers protection against any loss/damage incurred to the ship and to the cargo, which is being  transported to domestic or international destinations. Corporates can take open policy too to cover multiple shipments 

Thus, it clarifies that Corporate Insurance is reliable and is a must for any business entities be it small or large.


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