Description
This is a PPT describes about Non Life Insurance Products.
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Mumbai Cricket Association (MCA) had taken an insurance cover for Rs 6 crore against natural perils such as cyclone, lightening, death of a political leader, riots, airline strike, civil commotion etc.
?
Board of Control for Cricket in India (BCCI) had insured the advertisers and the broadcasters against cancellation due to such events for Rs 75 lakh. This would include the loss of revenue through ticket sales.
?
The claim comes against the cancellation of the match due to heavy rains.
?
The cricket association had taken an additional cover against terror
attacks.
?
Oriental Insurance writing covers for cricket tournaments like International Cricket Council’s T-20 World Cup, champions trophy..
?
As per IRDA’s Classification
? Fire ? Marine ? Miscellaneous
?
Other popular Classification
? Personal (or Retail) ? Commercial
?
Insurance of Assets
?
Insurance of Liability
? Fire Insurance against properties of the Household. ? Motor Insurance for the Vehicles. (2-wheeler or car) ? Travel Insurance ? Motor third party liability ? Liability under public liability act ? Liability for professional Negligence ? ? ? ? ? Life Insurance Personal Accident Insurance Health Insurance & Critical Illness Insurance Travel Insurance Motor Insurance
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Insurance of Person
? ? ? ? ?
?
? ? ?
?
?
Fire Insurance Marine Insurance Motor Insurance Engineering Insurance Agriculture Insurance Credit Risk Insurance Liability Insurance Security, Bonding Insurance Workmen’s Compensation Insurance Aviation Insurance Miscellaneous
? ?
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Protection for Building, Properties. Perils Covered- Fire, lightening, Explosion, implosion, Air-Craft damage, Riots, Strike, malicious and terrorism damage, storm, cyclone, typhoon,tempest, hurricane, flood and inundation, impact damage, land sliding, rock sliding, etc. Exclusion- war, invasion, act of foreign enemy hostility, war like situation.
?
?
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covers three risk: hull, cargo and freight (collectively known as "Perils of the Sea“) These perils include theft, fire, collision etc. Marine Cargo: Protection to the goods loaded on a ship against all perils between the departure and arrival warehouse. Covers transportation of goods by sea as well as land. Marine Hull: protection against damage to ship caused due to the perils of the sea.
?
all types of general insurance other than fire and marine insurance like:? ? ? ? ? ? Motor insurance Theft insurance Health insurance Personal accident insurance Money insurance Engineering insurance etc.
Private cars ? Motorized two wheelers ? Commercial Vehicles Type of Policies?
? Third Party Liability only ? Comprehensive Policy ? Comprehensive policy with Add-ons
1.Covers Loss or damage to the insured vehicle, Personal Accident and Third Party Liability due to the following:
2. Liability to third Parties - Bodily injury liability coverage-Unlimited - Property damage liability coverage- Rs.7.5 Lacs per accident 3. Personnel accident cover - Personnel accident cover for owner driver - max of 2 Lacs - Passengers Personal accident coverage(Optional)-max 2 Lacs/passenger
?
? Natural calamities -- Fire, explosion, self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. ? Man made: Burglary, Theft, Riot & strike, Malicious act, Accident by external means, Any damage in transit by road, rail, inland waterway, lift, elevator or air.
Optional Add-ons:- Towing facility, hospitalization charges etc
AGE OF VEHICLE
Not exceeding 6 months Exceeding 6 months but less than 1 yr. Exceeding 1 yr months but less than 2 yr. Exceeding 2 yr but less than 3 yr. Exceeding 3 yr but less than 4 yr. Exceeding 4 yr but less than 5 yr. Exceeding 5 yr but less than 10 yr. Exceeding 10 yr.
% of DEPRECIATION
Nil 5% 10% 15% 25% 35% 40% 50%
Name of Injury Death
Loss of 2 limbs or sight of 2 eyes or 1 limb or sight of 1 eye Loss of 1 limbs or sight of 1 eyes Permanent total disablement from injuries other than named above
Scale of Compensation 100%
100% 50% 100%
?
Any form of insurance whose payment is contingent on the insured incurring additional expenses or losing income because of incapacity or loss of good health.
? Medical Expenses Cover ? Major Medical Expenses Cover (Critical Illness) ? Disability Income Cover
? ? ? ?
?
? ? ?
Room, boarding & nursing expenses Hospital Registration & service Charges Nursing expenses during pre & post hospital periods Surgeon, Anesthetist, Medical Practitioner, consultants and specialists fees. Cost of anesthesia, blood, oxygen, operation theatre, surgical appliances, medicines and drugs, dialysis etc. Daily allowances for duration of hospitalization Ambulance charges Cost of health checkup once in a block of 4 claim free underwriting years.
Diseases? ? ? ?
?
? ? ? ? ?
Cerebral Paralytic stroke Cancer-Invasive malignancy End stage renal failure requiring dialysis. Coronary artery disease requiring open chest bypass surgery or angioplasty. Transplantation of kidney, lung, pancreas or bone marrow. Major injuries resulting in permanent separation/loss of hand, foot, eye. End stage of lever disease. Major burns touching 1/3 rd or more of body area. Coma arising out of any reason except specified policy exclusions Multiple sclerosis resulting in destruction of central nervous system.
?
Construction or Project Phase
? ? ? ?
? ? ? ? ? ?
?
Operational Phase
Contractors, all risk Insurance Erection all risks insurance Marine cum erection insurance Advance loss of profits insurance
Machinery Insurance Contractors plant & machinery Insurance Boiler & Pressure Plant insurance Electronic Equipment Insurance Machinery, loss of profit insurance Deterioration of stocks insurance
? ? ? ? ? ? ?
Public Industrial Liability Public non Industrial Liability Product liability Professional liability Employers liability Directors and Officers liability Golfers & Sportsman policy.
?
Insures losses arises out of manufacturing, ownership, maintenance or use of aircraft.
? Aircraft hull and liability insurance policies
? Loss or damage to aircrafts ? Legal liabilities to third parties ? Legal liabilities to passengers
? Aviation products liability.
? Legal liability of the product manufacturers against fault of design or the supply of defective manufactured materials.
?
Crop Insurance: To help farmers recover their losses due to the destruction of crops.
? ? ?
?
?
Cattle Insurance Poultry Insurance Sericulture Insurance AquaCulture Insurance Honeybee Insurance etc etc……
? Agricultural Insurance Company of India(AIC) (National agricultural insurance scheme) ? Crop insurance can be categorised based on Risks covered, Crops covered & whether it is mandatory or optional
?
?
Insured (business Concern) is guaranteed indemnification against abnormal credit losses arising from the default of the business debtors. Two types:? The whole turnover Policy: Insured is protected against the default of any of its customer. ? The specific account Policy: Insured is protected against the default Only specific customers.
?
Credit Insurance- by ECGC
?
Indemnify Employer against his liability to any of his employee arising out of The Policy covers liabilities arising out of WC Act 1923 as well as Fatal Accidents Act 1855 and Common Law. Benefits
? ? ? ? Full payment of Medical expenses Disability Income Payment for Rehabilitation services Death Benefits ? Injury of employee by accident at the workplace ? Disease of employee; if such injury or disease should arise in the course of employment
?
?
?
Comprehensive protection against loss of or damage to valuable property due to: - Fire, Riot fire, Riot & Strike, Terrorist Activity. - Burglary, Housebreaking - Accidental loss or Damage
? ? ? ? ?
Errors and Omissions (Technology) Policy Fidelity Insurance Fine Art Insurance Jeweller’s Block Weather Insurance
There are many more………………..
Cholamandalam, 1.81% Tata AIG, 2.72% Iffco-Tokio, 3.92% Reliance, 6.76%
Royal Sundaram, 2.41%
HDFC Ergo, 0.77%
Future Generali, 0.03% Universal Sompo, 0.00%
New India, 21.36% Bajaj Allianz, 8.26% National , 13.96% ICICI Lombard, 11.48%
United, 12.98%
Oriental, 13.54%
% of Gross Written Premiums (GWP) in 2007-08.
Retail Lines
Motor Private Car Motor Cycle/Scooter Home & Family Protector Trade Protector Industry Protector Home Suvidha Trade Suvidha Individual Medishield Individual Personal Accident Group Personal Accident
Commercial Line
Standard Fire & Special Perils Consequential Loss Contractors All Risk Contractors Plant & Machinery Boiler & Pressure Plant Industrial All Risks Machinery Breakdown Machinery Loss of Profit Product Liability Public Liability Industrial
Speciality Lines
Credit Insurance Multi Modal transport (MTO) Marine Hull & Machinery Jeweller's Block Barish Bima Yojna (Weather Insurance)
Office Professional Establishment Erection All Risks
Sagar Bandhu Bima Policy
Aviation Insurance Policy Errors and Omissions (Technology) Policy Fine Art Insurance – Private Collectors Fine Art Insurance – Art Dealers & Gallery Owners
Critical Illness Policy
Travel Protector All Risk Insurance
Public Lia Non-Industrial
Marine Cargo Electronic Equipment Bankers Blanket Burglary Insurance Fidelity Guarantee Money Insurance
Thank You Questions
doc_356868585.pptx
This is a PPT describes about Non Life Insurance Products.
?
Mumbai Cricket Association (MCA) had taken an insurance cover for Rs 6 crore against natural perils such as cyclone, lightening, death of a political leader, riots, airline strike, civil commotion etc.
?
Board of Control for Cricket in India (BCCI) had insured the advertisers and the broadcasters against cancellation due to such events for Rs 75 lakh. This would include the loss of revenue through ticket sales.
?
The claim comes against the cancellation of the match due to heavy rains.
?
The cricket association had taken an additional cover against terror
attacks.
?
Oriental Insurance writing covers for cricket tournaments like International Cricket Council’s T-20 World Cup, champions trophy..
?
As per IRDA’s Classification
? Fire ? Marine ? Miscellaneous
?
Other popular Classification
? Personal (or Retail) ? Commercial
?
Insurance of Assets
?
Insurance of Liability
? Fire Insurance against properties of the Household. ? Motor Insurance for the Vehicles. (2-wheeler or car) ? Travel Insurance ? Motor third party liability ? Liability under public liability act ? Liability for professional Negligence ? ? ? ? ? Life Insurance Personal Accident Insurance Health Insurance & Critical Illness Insurance Travel Insurance Motor Insurance
?
Insurance of Person
? ? ? ? ?
?
? ? ?
?
?
Fire Insurance Marine Insurance Motor Insurance Engineering Insurance Agriculture Insurance Credit Risk Insurance Liability Insurance Security, Bonding Insurance Workmen’s Compensation Insurance Aviation Insurance Miscellaneous
? ?
?
Protection for Building, Properties. Perils Covered- Fire, lightening, Explosion, implosion, Air-Craft damage, Riots, Strike, malicious and terrorism damage, storm, cyclone, typhoon,tempest, hurricane, flood and inundation, impact damage, land sliding, rock sliding, etc. Exclusion- war, invasion, act of foreign enemy hostility, war like situation.
?
?
?
covers three risk: hull, cargo and freight (collectively known as "Perils of the Sea“) These perils include theft, fire, collision etc. Marine Cargo: Protection to the goods loaded on a ship against all perils between the departure and arrival warehouse. Covers transportation of goods by sea as well as land. Marine Hull: protection against damage to ship caused due to the perils of the sea.
?
all types of general insurance other than fire and marine insurance like:? ? ? ? ? ? Motor insurance Theft insurance Health insurance Personal accident insurance Money insurance Engineering insurance etc.
Private cars ? Motorized two wheelers ? Commercial Vehicles Type of Policies?
? Third Party Liability only ? Comprehensive Policy ? Comprehensive policy with Add-ons
1.Covers Loss or damage to the insured vehicle, Personal Accident and Third Party Liability due to the following:
2. Liability to third Parties - Bodily injury liability coverage-Unlimited - Property damage liability coverage- Rs.7.5 Lacs per accident 3. Personnel accident cover - Personnel accident cover for owner driver - max of 2 Lacs - Passengers Personal accident coverage(Optional)-max 2 Lacs/passenger
?
? Natural calamities -- Fire, explosion, self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. ? Man made: Burglary, Theft, Riot & strike, Malicious act, Accident by external means, Any damage in transit by road, rail, inland waterway, lift, elevator or air.
Optional Add-ons:- Towing facility, hospitalization charges etc
AGE OF VEHICLE
Not exceeding 6 months Exceeding 6 months but less than 1 yr. Exceeding 1 yr months but less than 2 yr. Exceeding 2 yr but less than 3 yr. Exceeding 3 yr but less than 4 yr. Exceeding 4 yr but less than 5 yr. Exceeding 5 yr but less than 10 yr. Exceeding 10 yr.
% of DEPRECIATION
Nil 5% 10% 15% 25% 35% 40% 50%
Name of Injury Death
Loss of 2 limbs or sight of 2 eyes or 1 limb or sight of 1 eye Loss of 1 limbs or sight of 1 eyes Permanent total disablement from injuries other than named above
Scale of Compensation 100%
100% 50% 100%
?
Any form of insurance whose payment is contingent on the insured incurring additional expenses or losing income because of incapacity or loss of good health.
? Medical Expenses Cover ? Major Medical Expenses Cover (Critical Illness) ? Disability Income Cover
? ? ? ?
?
? ? ?
Room, boarding & nursing expenses Hospital Registration & service Charges Nursing expenses during pre & post hospital periods Surgeon, Anesthetist, Medical Practitioner, consultants and specialists fees. Cost of anesthesia, blood, oxygen, operation theatre, surgical appliances, medicines and drugs, dialysis etc. Daily allowances for duration of hospitalization Ambulance charges Cost of health checkup once in a block of 4 claim free underwriting years.
Diseases? ? ? ?
?
? ? ? ? ?
Cerebral Paralytic stroke Cancer-Invasive malignancy End stage renal failure requiring dialysis. Coronary artery disease requiring open chest bypass surgery or angioplasty. Transplantation of kidney, lung, pancreas or bone marrow. Major injuries resulting in permanent separation/loss of hand, foot, eye. End stage of lever disease. Major burns touching 1/3 rd or more of body area. Coma arising out of any reason except specified policy exclusions Multiple sclerosis resulting in destruction of central nervous system.
?
Construction or Project Phase
? ? ? ?
? ? ? ? ? ?
?
Operational Phase
Contractors, all risk Insurance Erection all risks insurance Marine cum erection insurance Advance loss of profits insurance
Machinery Insurance Contractors plant & machinery Insurance Boiler & Pressure Plant insurance Electronic Equipment Insurance Machinery, loss of profit insurance Deterioration of stocks insurance
? ? ? ? ? ? ?
Public Industrial Liability Public non Industrial Liability Product liability Professional liability Employers liability Directors and Officers liability Golfers & Sportsman policy.
?
Insures losses arises out of manufacturing, ownership, maintenance or use of aircraft.
? Aircraft hull and liability insurance policies
? Loss or damage to aircrafts ? Legal liabilities to third parties ? Legal liabilities to passengers
? Aviation products liability.
? Legal liability of the product manufacturers against fault of design or the supply of defective manufactured materials.
?
Crop Insurance: To help farmers recover their losses due to the destruction of crops.
? ? ?
?
?
Cattle Insurance Poultry Insurance Sericulture Insurance AquaCulture Insurance Honeybee Insurance etc etc……
? Agricultural Insurance Company of India(AIC) (National agricultural insurance scheme) ? Crop insurance can be categorised based on Risks covered, Crops covered & whether it is mandatory or optional
?
?
Insured (business Concern) is guaranteed indemnification against abnormal credit losses arising from the default of the business debtors. Two types:? The whole turnover Policy: Insured is protected against the default of any of its customer. ? The specific account Policy: Insured is protected against the default Only specific customers.
?
Credit Insurance- by ECGC
?
Indemnify Employer against his liability to any of his employee arising out of The Policy covers liabilities arising out of WC Act 1923 as well as Fatal Accidents Act 1855 and Common Law. Benefits
? ? ? ? Full payment of Medical expenses Disability Income Payment for Rehabilitation services Death Benefits ? Injury of employee by accident at the workplace ? Disease of employee; if such injury or disease should arise in the course of employment
?
?
?
Comprehensive protection against loss of or damage to valuable property due to: - Fire, Riot fire, Riot & Strike, Terrorist Activity. - Burglary, Housebreaking - Accidental loss or Damage
? ? ? ? ?
Errors and Omissions (Technology) Policy Fidelity Insurance Fine Art Insurance Jeweller’s Block Weather Insurance
There are many more………………..
Cholamandalam, 1.81% Tata AIG, 2.72% Iffco-Tokio, 3.92% Reliance, 6.76%
Royal Sundaram, 2.41%
HDFC Ergo, 0.77%
Future Generali, 0.03% Universal Sompo, 0.00%
New India, 21.36% Bajaj Allianz, 8.26% National , 13.96% ICICI Lombard, 11.48%
United, 12.98%
Oriental, 13.54%
% of Gross Written Premiums (GWP) in 2007-08.
Retail Lines
Motor Private Car Motor Cycle/Scooter Home & Family Protector Trade Protector Industry Protector Home Suvidha Trade Suvidha Individual Medishield Individual Personal Accident Group Personal Accident
Commercial Line
Standard Fire & Special Perils Consequential Loss Contractors All Risk Contractors Plant & Machinery Boiler & Pressure Plant Industrial All Risks Machinery Breakdown Machinery Loss of Profit Product Liability Public Liability Industrial
Speciality Lines
Credit Insurance Multi Modal transport (MTO) Marine Hull & Machinery Jeweller's Block Barish Bima Yojna (Weather Insurance)
Office Professional Establishment Erection All Risks
Sagar Bandhu Bima Policy
Aviation Insurance Policy Errors and Omissions (Technology) Policy Fine Art Insurance – Private Collectors Fine Art Insurance – Art Dealers & Gallery Owners
Critical Illness Policy
Travel Protector All Risk Insurance
Public Lia Non-Industrial
Marine Cargo Electronic Equipment Bankers Blanket Burglary Insurance Fidelity Guarantee Money Insurance
Thank You Questions
doc_356868585.pptx