Published in Business Word on 7th November 2017 In this interview, Kapil Mehta speaks to BW Businessworld on SecureNow’s business model and growth plans, emerging trends in the insurance space in India, and the challenges of an evolving Health Insurance landscape Kapil, what led you to leave a successful corporate career as the CEO of […]
Articles Tagged: Commercial Insurance
How is Proximate Cause Determined in a Fire Insurance Policy?
Proximate Cause is an important principle of insurance, which helps in deciding how the loss or damage happens and whether it is the result of an insured peril or not. The important point to consider here is that the proximate cause is the only nearest cause and not the remote cause. It mainly revolves around […]
Which Expenses Are Covered by The Fire Policy?
A fire policy provides cover for any losses occurred due to fire to property, stock, or assets. A fire insurance policy is a comprehensive policy that works as a contract between the insurer and the insurance company (see “What is Fire Insurance Policy?” here). It offers compensation for the losses that take place due to […]
What are the 12 perils of standard fire insurance policy?
The 12 Perils of Standard Fire Insurance Policy A fire insurance policy is a contract between the policyholder and the insurance company to indemnify the insured for the financial losses suffered due to the destruction or damage of the property/goods caused by the fire. All the movable and immovable properties like buildings, plants & machinery, […]
Which Assets are Not Covered by The Fire Insurance Policies?
Any individual with an insurable interest in a property should purchase a fire insurance policy. The policy is a comprehensive cover that provides for losses incurred due to a fire. Any individual who owns a property, plant, manufacturing unit, stocks, bank, financial institution, etc. should purchase a fire insurance policy. The premium for the policy […]
What are the physical hazards in fire insurance?
The insurance industry uses the terms like risks, perils, and hazards to differentiate between various conditions of insurance. The possibility of loss is denoted by the term ‘risk’, whereas the term ‘peril’ denotes the cause of the loss. The term ‘hazard’ denoted a condition that increases the possibility of loss. Physical hazards in fire insurance […]
What does All Peril Deductible clause in fire insurance mean?
All peril deductible clause in fire insurance is a situation where all the risks are covered. The policy is much closer to what a comprehensive insurance policy is. In fire insurance, all perils are covered by the insurer with a deductible clause for the policyholder. At the time of a claim, the insurer bears a portion […]
What Perils can be Added to a fire insurance policy?
A fire insurance policy plays a crucial role by protecting the policyholder against various losses or damages which may arise due to fire. Along with the perils/expenses which are covered, there are certain coverages available that a policyholder can enjoy at inception or during the tenure of the policy. However, the policyholder would require paying […]
What is the Scope of Fire Insurance Policy?
Fire insurance plays an imperative role by shielding you against various types of losses or damages which may arise due to fire. Moreover, a fire insurance policy can be purchased by both households and business owners. Here we are talking about fire insurance policies available along with office insurance policies for people in business. However, […]
Tips to Buy the Right Fire Insurance Policy
Undeniably, fire insurance plays an imperative role by covering your losses or damages that may arise due to fire. It is strongly recommended to buy a fire insurance policy to cover your business and here are some of the tips which will help you choose the right policy- 1. Buy the right coverage– When it […]