For people living in or using a building, natural disasters or fires or burglaries are all real concerns. To protect against such risks, owners of commercial or residential buildings buy building insurance. So who can purchase building insurance? Owners of commercial or residential buildings may fully or partially use these structures themselves or rent them […]
Articles Tagged: Office Insurance
How Is the Loss of Profit Claims Settled Under Office Insurance Policy?
Loss of profit is based on the premise that the business is interrupted due to a covered peril. The Loss of profit claims under Office Insurance covers the following types of losses: Loss of revenue Excess cost of operations due to the insured peril Settlement of Loss of Revenue Claims Loss of revenue to the […]
Type of Warranties under Office Insurance Policy and their significance.
Warranty ‘s meaning in Office Insurance Policy implies an agreement that is there at the time of the policy inception and will be there throughout the policy tenure. There will be no variation in the terms and conditions of the policy without the written consent of the insurer. For the purpose of the warranty, the […]
How Does Office Insurance Policy Work?
Office Insurance Policies are useful tools to safeguard your workplace from uninvited damages. Fire, inundation, lightning, etc. are out of anyone’s control and thus events are unusually unpredictable. Office insurance will work to minimize your losses from such accidents and ensure that your business continues as usual.
What to Do Under an Office Insurance If An Insured Person Meets With An Accident?
Office package policy also has provisions for personal accident cover for the insured. All provisions of personal accident cover offered in the office package policy are similar to a standalone personal accident policy. Meaning, the following are covered: Death due to accident Permanent Total Disability Permanent Partial Disability Temporary total disability Hospitalization expenses incurred due […]
Four Things to Know Before Renting an Office Space
Renting office space seems to be a better option, especially when you are not able to buy it or when you don’t want to purchase it. But choosing just any office space would be a mistake. You need to ensure that your office is one that supports your team and also lets you grow and […]
What Is Tenant’s Legal Liability Under Office Insurance?
Many businesses rent the premises and assets on the premise to operate the office. In the case of a burglary, fire, or another incident, both assets belonging to the owner of the premise and the tenant, can be damaged. In the case of damage to the owner’s assets (used by the tenant), the liability falls […]
Reinstatement Value Clause in Office Insurance Policy
The reinstatement Value Clause (RVC), defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is Reinstatement […]