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The reason this above question needs to be asked is- there is no standardized proposal form for transit insurance. To get the correct answer, we need to answer two questions: A. What is the end use of this information B. Who is going to use this data and for what purpose The answer to...

Professional indemnity insurance is a branch of liability insurance which covers the potential liability of a service provider caused by an error or omission in his professional conduct. Use of the phrase error & omission indicates that both action/inaction (i.e. doing something which was unwanted; as well as not doing...

In considering the cash carrying limits in a money policy, the following need to be appreciated:The definition of money in the policy. (All components as used in the definition, need to be considered). Some Insurers may offer cover for foreign exchange too.)The money in transit cover is available only for...

Reinstatement value is the cost to build or restore the asset to its original state or condition. Standard fire and special perils policy usually come with a reinstatement value clause. The reinstatement value clause defines the methodology of claim settlement in case of damage to the assets like building, machinery...

A Standard Fire and Special Perils Policy cover several perils like:FireLightningExplosion/ImplosionAircraft DamageRiot, Strike, Malicious DamageStorm, Typhoon, Hurricane, Tornado, Flood and InundationImpact damageSubsidence and landslide including Rock slideBursting and overflowing of water tanks, apparatus and PipesMissile testing operationsLeakage from Automatic Sprinkler InstallationBush FireMore protection can be gained in the policy by...