What is POSI This is an insurance cover for the wrongful acts of a company and its directors arising from the issue of a prospectus. The cover may also include claims by the underwriter or sponsor of the floatation arising from warranties and indemnities given by the company or the directors personally in agreement with […]
Fire loss of profit policy for windmills Material Damage Cover: Normal Fire policy covers the property against physical damage due to Fire and allied perils. This policy pays for material damage only. It does not pay for loss of production arising out of an accident at the location insured in the policy. Thus indemnity for […]
(I) Coverages as per Standard Fire and Special Perils Policy- Fire Lightning Explosion/ Implosion Aircraft Damage Riot, Strike, Malicious and Terrorism Damage Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation Impact Damage Subsidence and landslide including Rock Slide Bursting and/ or overflowing of Water Tanks, Apparatus and Pipes Missile Testing Operations Leakage from Automatic […]
Cancellation This insurance is to indemnify the Assured for their Ascertained Direct Net loss, should the insured Events(s) described in the Schedule, be necessarily Cancelled, Interrupted in whole or in part and for additional expenses which the insured incurs for the continuation of the event. The Cancellation, Interruption is the sole and direct result of […]
Introduction The structure of the policy for both industrial and non industrial risks is almost the same. Both the classes are governed by market agreement which came into force from 1.1.1988 for industrial risks and from 1.12.1991 for non industrial risks. According to Maket Agreement, industrial risks are manufacturing industries and storage risks such as […]
Public Liability Act 1991 The Public Liability Act 1991 is “An act to provide for public liability insurance for the purpose of providing immediate relief to persons affected by accident occurring while handling any hazardous substance and for matters connected therewith or incidental thereto” Public Liability Act- reason The explanation says that” the growth […]
What is Product Liability? A product liability policy provides indemnity to the Insured against legal liability to pay for damages and/or Injury arising out of any defect in the products manufactured and covered under the policy. “Product” means any tangible good or property, after it has left the custody and control of the insured, which […]
INTRODUCTION TO D&O Directors and officers of companies hold positions of trust and they have responsibility to their company, the shareholder, the employees, the public at large etc. They may become liable to pay damages for wrongful acts like failure of supervision of the affairs of the company etc. Apart from common law responsibilities, the […]
What is a CGL Policy? This is a complete policy to provide seamless protection to the Insured, and covers Third Party Liabilities arising from various business exposures such as those arising from Premises, Products, and completed operations, Advertising and Personal injury and also provides supplemental payments, thus ensuring complete protection to the insured against […]
The Datatrained Job Fair held at the Greater Noida Institute of Technology on The 9th of March 24 marked a monumental day for DataTrained and Greater Noida Institute of Technology, as they witnessed an unprecedented turnout at the DataTrained Job Fair. Overflowing with joy and gratitude, both parties are overwhelmed by the resounding success of […]