Commercial Insurance

Commercial Insurance

A Commercial Lines Insurance policy ensures that the business does not face any financial burden because of any financial and business risks. Apart from covering the damages to the property or employee injury, it also covers public or employer liability.

The policy is offered to commercial and business entities like large corporate houses, SMEs, and MSME industries.

Commercial Insurance, as an umbrella segment, has a number of Insurance types based on the type of asset covered, viz.:
  1. Liability Insurance: An insurance product that provides coverage against any claims resulting from injury or damage to any third party, i.e., person or property. It offers the following types of Liability Insurance Policies:
    • Directors and Office Liability Insurance 
    • General Liability Insurance 
    • Public Liability Insurance
    • Cyber Insurance
  2.  Marine Cargo Insurance: This Insurance provides coverage for the inland transit of consignments. It covers the loss or damage of cargo or the means of its transportation between the point of origin and the final destination.
  3. Engineering Insurance: Engineering Insurance provides coverage against all risks associated with engineering and machinery. It includes the following insurance products:
    • Contractor’s All-Risk Insurance
    • Erection All Risk Insurance
    • Plant and Machinery Insurance
  4. Workmen Compensation Insurance: Workmen Compensation provides financial coverage to employees who get injured or die in any mishap during work. Thus, Workmen’s Compensation Insurance not only helps the employers to compensate these employees but also to fulfill their ethical duty as an employer.

  5. Crop Insurance: As the name suggests, Crop Insurance is bought by agriculturists to cover the financial losses that a bad crop season, crop failure or any other related menace might bring in.