General insurance

General Insurance

1. GENERAL INSURANCE Manojkumar B M.sc ., A.I.I.I

2. General insurance is basically an insurance policy that protects you against losses and damages other than those covered by life insurance. Classes of Insurance Fire Insurance Marine Insurance Miscellaneous Insurance - Motor Insurance -Health Insurance -Liability Insurance -Burglary Insurance -Rural Insurance -Fidelity Guarantee Insurance GENERAL INSURANCE

3. FIRE INSURANCE An insurance against damage created from the fire is called fire insurance. Such insurance compensate the damage of house, machine, equipment's, goods, things and other immovable properties of the insured from the risk of the fire.

4. This insurance is covers for safety delivery of goods while transporting goods from one place to another by sea way, land way or air way accident may occur in transit period cause loss or damage to goods or vehicle. To recover such loss from marine insurance. MARINE INSURANCE

5. Motor insurance is insurance for bike, cars, trucks and other road vehicles. Its primary use is to provide financial protection against physical damage or body injury resulting from on- road and off – road. MOTOR INSURANCE

6. Health insurance is cover the medical and surgical expenses of the individual or family due to hospitalization from illness. Its helps secure health and financial balances . HEALTH INSURANCE

7. Liability insurance is designed to protect business from liabilities may carry for injury to employees, customers, or other persons on premises. Types of Liability Insurance -Public Liability -Product Liability -Professional Indemnity -Employers Liability LIABILITY INSURANCE

8. Public Liability: This policy covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury, loss or damage to the property belonging to a third party . Types of Public Liability Insurance Policies : 1. Public Liability Industrial Risks - For manufacturing units, godowns and warehouse. 2 Public Liability Non Industrial Risks - For Non Manufacturing entities like IT companies, BPOs, Hotels, Schools, Restaurants and Clubs

9. Product Liability : Product Liability Insurance indemnifies the manufacturer, distributor, wholesaler, and retailer against third party liability arising out of the sale of products by the manufacturer . Professional Indemnity : This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service . Eligibility person’s Doctors, Chartered accountants, Lawyers, Architects.

10. Employers Liability : The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by the workmen arising out of and in course of employment .

11. Burglary insurance is a policy that covers losses resulting from a burglary. Burglary denotes the act of entering a property unlawfully with the intention of committing a crime and it might not always involve theft. Burglary insurance, then, will cover property damage as well as financial losses. BURGLARY INSURANCE

12. Rural Insurance generally refers to insurance related to rural people, their business like farming, cattle, poultry etc., and their families. The rates of premium are lower and claim procedure is simplified. Types of Policies: Cattle/Sheep/goat policy Horse/Mule/Donkey/Honeybee policy Pig/Camel/Dog/Rabbit/Duck/fish/poultry Horticulture/Plantation/Floriculture policy Farmer package policy Rural Insurance

13. Fidelity Guarantee Insurance policy provides cover against the financial loss suffered by the Insured as a result of fraud/dishonesty of employees of the insured up to the maximum limit selected for insurance per employee. Fidelity Guarantee Insurance

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