Published in Mint on 29 February, 2016, Written by Kapil Mehta The government has had a strong insurance track record over the past year. And the insurance industry has grown well. Life insurance, which has been in doldrums for long, is looking up again. The year-to-date growth at 16% is the highest in the past […]
Articles Tagged: Property Insurance
What is Co-insurance Clause in Property Insurance?
Co-insurance is an office insurance policy is an important clause, which is defined as the ‘sharing of risk’ between multiple insurance companies. Usually, one insurance company leads the policy document. And the insurer would be responsible for different aspects of the policy document, including the claim. In such a case, the insurance company will levy […]
What is an All-Risk Property Insurance Policy?
An all-risk property insurance policy means that the policy will cover everything, except the perils which are clearly listed under the exclusion head. It means, that if something does not specifically exclude from the all-risk property insurance policy, the insurer would cover it. Often known as a comprehensive insurance policy, an all-risk property insurance policy […]
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 […]
What is Local Authorities Clause in Property Insurance?
The local authorities clause in the property insurance policy covers the loss of business income which applies when the government entity denies access to the covered property. Many catastrophic scenarios led to such actions by the government to protect individuals and businesses from any damage. These catastrophes may include floods, hurricanes, or wildfires amongst other possible […]
What to do when a vehicle is covered under more than one motor policy?
In case two motor fleet insurance policies are in existence for the same vehicles with the same covers. Cancel one of the motor fleet insurance policy. Read More: How to file a claim under Motor Fleet Insurance Policy? In situations where one of the motor fleet insurance policies starts at a date later than the […]
What is earthquake extension clause in fire insurance?
A fire insurance policy covers the loss or damage caused to the property due to fire. A standard policy provides the insured, the coverage against the perils as mentioned in his policy documents. Some of the perils are fire, lightning, aircraft damage, storm, typhoon, hurricane, etc. So let’s know what is earthquake extension clause is […]
Are losses arising out of theft and burglary covered under the Standard Fire and Special Perils policy?
If a loss arises out of theft and burglary, the standard fire and special insurance policy usually exclude it, unless stated otherwise. Usually, most fire insurance companies think that burglary, theft, or housebreaking are not linked with fire accidents. And therefore, the insurer prefers to deny any claim which arises out of theft and burglary […]
What is the average clause in fire insurance?
A fire insurance policy has an average clause mentioned in it which takes care of the cases of under-insurance. If insured the assets in the fire insurance policy, for less than their full value, the insured requires to bear a proportion of the loss according to the average clause mentioned in the policy document. Since […]
Distribution Landscape Set To Change Dramatically
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 […]