Fidelity Guarantee
Provides indemnity to the Employer
against direct pecuniary loss caused by act of fraud or dishonesty
(financial crimes) committed by the Employees during the period
of insurance specified in the Schedule.
Requirements under this insurance:
- The loss should occur in connection with the Employee’s
position (designation) specified in the Scheduled
Provides indemnity to the Employer against direct
pecuniary loss caused by act of fraud or dishonesty (financial
crimes) committed by the Employees during the period of insurance
specified in the Schedule.
Requirements under this insurance:
- The loss should occur in connection with the Employee’s
position (designation) specified in the Scheduled
- The loss should be discovered within 6-months after the
death, termination, retirement of such Employee or
6-months after the expiry of the Policy, whichever of these
events shall happen first.
- Only confirmed, permanent Employees could be covered
- Proper control systems and checks should in place
The Insured (Employer) has the option of obtaining
cover on:
1) Blanket (or Floater) basis – a single Sum Insured
is set under the Policy covering all staff
2) Named or Position basis – where names or designations
of the Employees are declared and separate Limits are set
against each named-person or position. Standard
Exclusions
- Crimes committed by Directors, and Partners of the business
unless he is also an Employee
- Any Employee from the time Insured shall become aware
that such Employee has committed any fraud or
dishonesty.
- Consequential losses arising out of such a crime
- Other legal entity acquired by the Insured during the
policy Period
- Computer crimes
Workmen’s Compensation
This policy is obtained by the Employer
(Businessman) to provide compensation to his Employees (who
are in immediate service) who may sustain physical personal
injury by accident or disease arising out of and in the course
of his employment where the Employer becomes liable to pay
compensation as per the Policy or at Common Law. Policy
provides cover based on the Workmen’s Compensation
Act 1934 (Amended).
Standard Exclusions
- War, invasion, martial law, strike, riot and civil commotion
and terrorism
- Contractors` employees
- Any employee who is not a “workman” within
the meaning of the law
- Any liability of the insured which attaches by virtue
of an agreement but which would not have attached in
the absence of such agreement
- Any sum which the Insured would have been entitled to
recover from any part but for an agreement between
the Insured and such party
The standard cover operates whilst the employee
is at work only. However, if the Employer provides transport
to his employees from place of work and vice versa. Cover
is extended accordingly. Cover could be further extended,
by paying an additional premium, to be operative on 24-hour
basis (within the home country only unless traveling abroad
on business).
Personal Accident
Provides compensation against accidental
injury (by violent, external and visible means) resulting
in temporary partial/ total disability, permanent partial/
total disability or death. Based on the income of the insured,
the Sum Insured/ Limit under this policy is set.
In case of permanent disablement, benefits
are paid according to a pre-agreed schedule, as a percentage
of the Sum Insured.
This insurance is normally operative on 24-hour
and worldwide basis.
Standard Exclusions
- Motor cycling, mountaineering and professional sports
- Persons engaged in aviation industry (pilots, cabin crew
and technicians)
- Pregnancy, child birth or existing physical conditions
- Intentional self-injury and suicide except in an effort
to save human life
- Persons that does not fall within the age-limit specified
in the Schedule
- Armed services personnel
- War, strike, riot and civil commotion and terrorism
- Nuclear, biological and chemical attack
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