Dear HR Team, do you know about Blacklisted Hospitals? – A Must-Know piece of information for your Employees Prologue: Nowadays, we are getting claims repudiated by insurers citing admissions taken in blacklisted hospitals. Most of the time, this rejection happens in reimbursement claims as the employee gets admitted unaware of this condition. It is important […]
Contractual Liability (Obligation) Insurance Policies In today’s competitive corporate world, all businesses have contractual obligations. It is inevitable that you need to adhere to the compliance requirements of your clients. In this regard, you have to purchase a few insurance policies that will help you and your clients in case there is litigation or disagreement […]
Do you know, it is mandatory by IT Act to report a cyber-attack to CERT -In! Who is CERT – In? The Indian Computer Emergency Response Team, it is formed as per the IT (Information Technology) act 2000 and they shall be a part of and function under the administrative control of Department of Electronics […]
Case Study: Impact of Underinsurance on Fire Claim Settlement Background: In December 2021, one of our apartment clients reported a fire accident that occurred in the basement electrical board room. The estimated loss was approximately ₹75 lakhs. The apartment was insured under a Fire Insurance Policy with a sum insured of ₹100 crores. Incident Summary: […]
Case Study: The Cost of Delay in Purchasing Cyber Insurance Background: Recently, one of our clients experienced a ransomware attack that severely disrupted their operations. Prior to the incident, their management believed that a USD 1 million (INR 8.5 crore) cyber insurance cover was unnecessary. Incident Summary: Following the attack, the same client urgently sought […]
A devastating fire broke out in a factory due to a short circuit in an electrical panel, spreading rapidly and causing extensive damage to machinery and finished goods. The insured has lodged a claim under their Standard Fire and Special Perils (SFSP) Policy, seeking reimbursement for repair/replacement of damaged machinery, loss of stock, and debris […]
A faulty air-conditioning unit caused a fire in our office, damaging equipment and documents. Our fire insurance policy is helping us recover losses, covering replacement costs and renovation expenses. The policy’s “office contents” section covers fixtures, fittings, and contents, giving us peace of mind. We’re working with our insurer to process the claim and restore […]
Tenants Legal Liability: Is Your Business Running in a Rented Premises? Then You Should Know This: What if a fire happens in your commercially rented premises, and you are held responsible by the landlord? The common risk in the workplace is a fire accident, which can occur due to your employee’s negligence or poor maintenance […]
Can Employers Be Liable if an Employee Commits Suicide? Recently, I received a call from one of my clients’ HR department, informing me that their employee had committed suicide. The employee’s dependents were blaming the company for putting undue pressure on the employee, which allegedly led to stress and depression, ultimately resulting in his death. […]
Errors & Omission Policy (Professional Indemnity Insurance) Are your data losses covered under an Errors & Omission Policy or Cyber Security Policy? (Two-minute read for #CISOs, #Directors, #CFOs, #CTO, #Cyber Consultants, #Startups) An Errors & Omission policy (Professional Indemnity Insurance) is taken to cover business service lapses where a customer incurs a loss due to […]