What is SLE insurance?
This Insurance is to indemnify the Assured for their Ascertained Net Loss should any Insured Event(s) be necessarily Cancelled, Abandoned, Postponed, Interrupted, Curtailed or Relocated, which necessary Cancellation, Abandonment, Postponement, Interruption, Curtailment or Relocation is the sole and direct result of a cause not otherwise excluded which occurs during the period of insurance and is beyond the control of both the Assured and the Participant therein.
What is MTO insurance?
MTO insurance covers claims from third parties involved in the transport chain, for loss or damage to cargo, or errors and omissions. A multimodal transport operator, also called a non vessel owner common carrier (NVOCC) is a company that provides a one-stop solution to exporters under one single document.
What is marine insurance?
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which the property is transferred, acquired, or held between the points of origin and the final destination. … When goods are transported by mail or courier, shipping insurance is used instead.
What is hull insurance?
Hull insurance is one of the main types of marine insurance policies available in the marketplace. It covers a broad range of damages on a vessel’s hull, machinery, and equipment, which in turn gives the vessel owner a level of confidence and security in operating their yacht/ship on international waters.
What is P&I insurance?
Protection and Indemnity (P&I) insurance is liability coverage for watercraft. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels.
What does fire insurance cover?
Fire insurance is property insurance covering damage and losses caused by fire. The purchase of fire insurance in addition to homeowner’s or property insurance helps to cover the cost of replacement, repair, or reconstruction of property, above the limit set by the property insurance policy.
What does motor insurance cover?
Motor vehicle insurance, also called automotive insurance, a contract by which the insurer assumes the risk of any loss the owner or operator of a car may incur through damage to property or persons as the result of an accident.
What are the types of motor insurance?
Types of Motor Insurance. This insurance is mandatory by law. It protects a policy holder against losses which arise due to bodily injury/death to a third party or any damage to property. Here third party includes people travelling with you or whom theinsured person injures and claims damages at the time of accident.
What comes under office insurance?
An office package policy is a comprehensive insurance package specifically designed to cover organizational infrastructure and establishments including IT/ITES sector, government offices, etc. This innovative cover allows you to safeguard your office property as well as employees under a single policy.
What is burglary insurance?
Burglary insurance is insurance against loss or damage resulting from or following the unlawful breaking and entering of designated premises or places of safekeeping.
What is Group Medical Coverage?
GMC or Group Medical Coverage is a plan that offers medical coverage to the group of people. The group of people can be employees of any company, members of any community or social group. The medical benefit offered is uniform. In short, similar benefits are offered to each and every person of the group.
What is Group Personal Accident insurance?
GPA or Group Personal Accident is a policy specially designed to protect the group of selected people from the consequences of unexpected accident. These consequences can be death, disability, etc.
What is professional indemnity insurance?
Professional indemnity insurance protects you and your business against claims for alleged negligence or breach of duty arising from an act, error or omission in the performance of professional services.
What is D&O insurance?
Directors and officers’ liability Insurance (often called “D&O”) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal.
What is public liability insurance?
Public liability insurance is designed for professionals who interact with customers or members of the public. It protects against claims of personal injury or property damage that a third party suffers (or claims to have suffered) as a result of your business activities.
What is product liability insurance?
Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through your business. It is designed to help protect your business by ensuring that if this happens, you don’t have to pay any legal or court costs.