In our continuous effort to constantly endeavor to upgrade services to customers,
we are happy to introduce our corporate services to our valued corporates. This
service will help corporates to identify their financial requirements in terms of
protection of your assets, managing your investments and funding your goals.
For protection of your assets we would assess the risks associated with it, and
the need to finance those risks to protect corporates from any losses that they
may have to bear due to existence of such risks.
To help them manage their investments we would give them several long- term and
short-term investment options. They can choose the best suitable option, depending
on their liquidity, risk & return expectations.
Also, corporates have several goals like expansion, diversification etc, for which
they might require external funding, we would help them in funding and achieving
their goals.
Answer four simple questions to help us understand your financial needs.
disclaimer
Government bonds are fixed income debt securities issued by the Govt. of India.
It is a promise to repay the principal along with the interest on a specified maturity
date. These are considered to be risk-free.
To invest in Govt. bonds with us please Register here!
Fixed deposit (FD) is an investment option that allows you to invest a sum of money
for a fixed time period and at a fixed rate of interest. During the course of the
FD, even if the prevailing interest rates go up or down, you will be entitled to
the rate of interest that was committed to you.
Corporate FDs are offered by companies that are looking to raise money from the
open market. Corporate FDs typically pay a higher rate of interest, but also carry
a relatively higher risk than bank FDs.
At ICICIdirect we offer fixed deposits of ICICI HFC, Mahindra & Mahindra, HDFC,
LIC HF and a lot more to add to the list.
To invest in corporate FDs with us please Register here!
What are currency
futures contracts?
Currency futures contracts are legally binding agreement to buy or sell a financial
instrument sometime in future at an agreed price. Currency future contracts are
standardized in terms of lots and delivery time. The only variable is the price,
which is discovered by the market. Currency futures contracts have different expiry
validity and will expire after the completion of the specified tenure.
Currency derivatives
are very efficient risk management instruments and you can derive the below benefits
:
Hedging : You can protect your foreign exchange exposure in business
and hedge potential losses by taking appropriate positions in the same
Speculation : You can speculate on the short term movement of the
markets by using currency futures
Arbitrage : You can make profits by taking advantage of the exchange
rates of the currency in different markets and different exchanges
Leverage : You can trade in the currency derivatives by just paying
a % value called the margin amount instead of the full traded value
To start trading in currency futures Register here!
Every business has a specific set of requirements. Our range of business products
is especially designed to meet your business needs across the commercial spectrum.
It is pivotal to get adequate insurance cover for your business to mitigate risk.
Know more about our products
Fire and special perils policy (material damage)
Scope of cover
The insurance policy broadly covers losses due to :-
-
Fire, lightning, explosion and implosion
-
Aircraft damage, riot, strike, malicious damage and terrorism
-
Storm, tempest, flood and inundation
-
Impact damage, subsidence
-
Landslide / rock slide
-
Bursting and/or overflowing of water tanks, apparatus and pipes
-
Missile testing, leakage from automatic sprinkler installations and bush fire
Sum Insured
Property can be insured on depreciated cost (market value) or replacement cost basis.
In order to get full protection, insurance on reinstatement (replacement) basis
is recommended.
Premium
Premium rate depends on construction of building and occupancy.
Discount/ loading in premium is given based on past claims experience for risks
exceeding Rs. 50 crores sum Insured at any location and installation of Fire extinguisher
appliances
Significant Exclusions
The insurance policy does not cover the first Rs.10,000 (or as applicable) of each
and every claim. Losses arising out of war and allied perils, theft, willful act
or gross negligence, loss of earnings, loss to bullion, documents, currency etc.
for an amount exceeding Rs. 10,000, unless expressly stated.
Main Extension
-
Earthquake (fire & shock)
-
Spontaneous combustion
-
Deterioration of stocks in cold storage
-
Impact damage due to own vehicles
-
Omission to insure additions
-
Debris removal in excess of 1 % of claim amount
-
Architect, surveyors & consulting engineer's fees in excess of 3 % of claim
amount
Consequential loss (fire) insurance policy
Introduction
Fire and special perils Policy compensates only for material damage to the insured
property. It specifically excludes any consequential loss.
In case of a major loss caused by Fire, there could be an interruption in business
operation leading to reduction in turnover finally resulting in possible loss of
profits. However, standing or fixed charges continue to accrue regardless of whether
there is any production or not. Such loss cannot be covered under fire policy.
Consequential loss policy compensates for the revenue loss suffered by the enterprise.
Hence, for complete protection to the business enterprise and its profitability
consequential loss policy is very essential in addition to fire insurance policy.
Scope of cover
The policy broadly covers loss of net profit on account of interruption of business,
consequent upon material damage to property due to Fire or any other insured peril
under the standard fire and special perils policy.
It also covers standing charges which continue to be incurred during the period
of interruption and the increase in cost of working necessarily and reasonably incurred
to maintain the business as far as possible at its normal level, so that loss under
net profit and standing charges is avoided or at least minimised.
Sum Insured
Sum to be insured under this policy is the estimated gross profit for the indemnity
period selected. Indemnity period is the maximum period beginning with the occurrence
of the damage, for which cover of loss of gross profit is required and should reflect
the maximum period anticipated for reinstatement of the damaged property. The maximum
indemnity period permissible under the policy is 3 years.
Premium
Basis rate depends on fire and special perils rate. Final rate is influenced by
Indemnity period chosen. At inception, gross profit is taken on estimated basis
and is subject to declaration of the actual figures after expiry of policy based
on final audited accounts.
Significant Exclusions
The insurance policy does not cover
Loss of gross profits, which is not consequent upon property damage due to an insured
peril
Loss of gross profits, which is not consequent upon property damage due to an insured
peril
Loss due to material damage to property, difference between value of stock at the
time of fire and the value at the time of subsequent replacement, deterioration
of undamaged stock after fire
Main Extension
Cost of preparing fire and loss of profits claim, third party claims and loss of
goodwill
Industrial all risk policy
Introduction
Industrial units (excluding petrochemical risks) having sum insured of Rs. 100 crores
and above in one or more locations in India are eligible to take industrial all
risks policy
Scope of cover
This policy offers comprehensive cover against all perils excepting those specifically
excluded. The policy covers loss or damage due to :
-
Fire and special perils
-
Machinery breakdown/ boiler explosion/ electronic equipment breakdown
-
Burglary
-
Business interruption due to fire and special perils, burglary and other accidental
damage
Sum Insured
Sum to be insured for the material damage part is the reinstatement cost of the
property. For the business interruption portion, annual gross profit is to be insured
Premium
Premium depends on the exact cover opted, claims experience, deductible and risk
assessment report of the engineer
Significant Exclusions
Inherent vice, normal wear and tear, collapse, faulty or defective design material
or workmanship, pollution, contamination, inventory losses, fraud, larceny, interruption
of the water supply, gas, electricity or fuel systems or failure of the effluent
disposal systems etc.
Policy is subject to compulsory deductible excess as under :
-
Material damage claims : 5% of claim amount subject to aminimum
of Rs 5 lacs andmaximum of Rs. 50 lacs
-
Business interruption claims : 3 days gross profit subject toa
minimum of Rs. 5 lacs and maximum of Rs. 50 lacs
Main Extension
Policy can be extended to suppliers' and customers' premises or public utilities,
on which the business is dependent and cost of auditors fees required to submit
claim on Insurer.
To protect your Business assets from fire please Register here!
Commercial vehicle insurance offers third party cover for goods-carrying commercial
vehicles.
This policy covers you for :
-
Personal injury
-
Property damage
Third party insurance cover for personal injury includes liability for death or
injury to third parties - This means that you are insured against death or injury
(caused by your vehicle) to pedestrians, occupant of other vehicles, and outsiders
other than passengers.
Read More
To buy a commercial vehicle insurance policy please Register here!
We offer comprehensive commercial product line aimed at businesses of all kinds
and sizes. We offer products that match your business needs and provide you a perfect
protection cover.
Select any of our marine products to mitigate business risk.
Know more about our products
Marine import transit insurance policy
Introduction
The coverage is generally defined by reference to clauses known as Institute Clauses.
The ICC (C), ICC (B) and and ICC (A) Clauses define different levels of coverage
against marine risks and the cargo may be covered subject to any one of these clauses.
The type of policy available is the specific policy to cover single consignment
or an open policy.
There are three types of covers :
-
Institute cargo clause (C) : Named peril basis
-
Institute cargo clause (B) : Named peril basis
-
Institute cargo clause (A) : Offers the widest form of cover under marine cargo
insurance in so far as it relates to the perils covered. ICC (A) is an unnamed perils
clause
Sum Insured
This is an agreed value policy. Normally, insurance is taken for CIF+10%
Premium
Rate depends on factors like nature of cargo, scope of cover, packing, mode of conveyance,
distance and past claims experience
Significant Exclusions
This policy does not cover loss or damage due to willful misconduct, ordinary leakage,
improper packing, delay, inherent vice, war, strike, riot and civil commotion.
Main Extension
On payment of additional premium, insured can opt for certain extensions to the
cover provided under the policy. Extensions available are include war, strike, riot
and civil commotion and duty insurance cover.
Marine export transit insurance policy
Introduction
The coverage is generally defined by reference to clauses known as institute clauses.
The ICC (C), ICC (B) and and ICC (A) clauses define different levels of coverage
against marine risks and the cargo may be covered subject to any one of these clauses.
There are three types of covers :
-
Institute cargo clause (C) : Named peril basis
-
Institute cargo clause (B) : Named peril basis
-
Institute cargo clause (A) : Offers the widest form of cover under marine cargo
insurance in so far as it relates to the perils covered. ICC (A) is an unnamed perils
clause
The type of policy available is the specific policy to cover single consignment
or an open policy.
Sum Insured
This is an agreed value policy. Normally, insurance is taken for CIF+10%.
Premium
Rate depends on factors like nature of cargo, scope of cover, packing, mode of conveyance,
distance and past claims experience.
Significant Exclusions
This policy does not cover loss or damage due to willful misconduct, ordinary leakage,
improper packing, delay, inherent vice, war, strike, riot and civil commotion.
Main Extension
On payment of additional premium, Insured can opt for certain extensions to the
cover provided under the policy. Extensions available are include war, strike, riot
and civil commotion and duty insurance cover.
Marine inland transit insurance policy
Introduction
This policy broadly covers the risk of physical loss or damage to the Insured's
goods (machinery, raw materials, finished goods etc.) during transit under a contract
of affreightment.
Scope of cover There are two types of covers
:
-
"Basic risk policy" covers loss or damage to specified goods caused
by fire, lightning, breakage of bridges, overturning of vehicles, collision with
or by carrying vehicle, subject to specified exclusions
-
"All risks policy" covers all risks of loss or damage to specified
goods, subject to exclusions
Sum Insured
This is an agreed value policy. Normally, insurance is taken for CIF+10%
Premium
Rate depends on factors like nature of cargo, scope of cover, packing, mode of conveyance,
distance and past claims experience
Significant Exclusions
This policy does not cover loss or damage due to willful misconduct, ordinary leakage,
improper packing, delay, inherent vice, war, strike, riot and civil commotion.
Main Extension
Extensions available include strike, riot and civil commotion.
Every company has special insurance requirements and no one realises better than
we do. With 2 broad covers and 8 plan options, our corporate overseas travel insurance
policy covers the insured's permanent employees during their trip abroad. Read More
Scope of cover
Our corporate travel policy is broadly classified in two covers :
-
Gold Plan
-
Silver Plan
Gold Plan
A comprehensive policy that covers :
Medical expenses - you can choose between US$ 50,000 or US$ 100,000 cover For expenses
incurred due to illness or accident, including medically necessary and prescribed
transportation to the Republic of India. Covers defined outpatient#, medical aid,
therapies and diagnostic tests
* As defined in the policy wordings
Dental treatment cover - US$ 250 ( For acute anaesthetic treatment)
Repatriation of remains - US$ 7,000 (In case of death abroad, covers the expenses
incurred in transportation of the remains back to India. This benefit is available
under the overall medical expenses limit.)
Passport loss expenses reimbursement - US$ 200 ( covers expenses incurred to obtain
a duplicate or fresh passport)
Checked - in baggage loss - US$ 1,000 (for complete and permanent loss of checked-
in baggage)
Checked baggage delay - US$ 100 (for expenses incurred for the emergency purchases
of toiletries, medication and clothing in case of delay in checked baggage for more
than 12 hours)
Personal accident - US $ 25,000 (compensation for death or permanent total disability
caused due to an accident)
Personal liability - US$ 100,000 (compensation paid to third party for involuntary
damage caused by you, resulting in death, injury or damage to the health or property
of third party)
Silver Plan
An economical health cover that cuts frills without cutting corners
Medical cover - you can choose between US$ 50,000 or US$ 100,000 cover
Dental treatment cover - US$ 250
Repatriation of remains - US$ 7,000
This benefit is available under the overall medical expenses limit
Exclusions
-
Medical expenses arising out of pre- existing conditions
-
HIV, radiation
-
Sporting activities
-
War and war like consequences
-
Loss of passport at public places
-
Employer's contractual liability
-
Personal liability of the insured person
-
Addiction to alcohol, drugs, mental disorder, anxiety, venereal disease
-
Expenses arising out of loss of valuables, money, securities and tickets
To buy corporate overseas travel insurance policy please Register here!
Credit insurance policy is designed for companies that are selling their goods and/or
services on credit to overseas buyers.
This policy provides coverage to companies for outstanding receivables that are
within approved credit terms, thereby protecting the Insured against non-payment
risk by its buyers.
Read More
Benefits
Balance Sheet Protection : Credit insurance acts as an effective
tool in minimising your bad debts. Trade losses which can destabilize the company's
balance sheet are avoided
Facilitated access to financing : If you are looking to finance
your receivable at competitive rates
Competitive Advantage : Flexibility in the credit terms offered
to existing and prospective buyers , thereby helping to capture the market
Profitability : Provides early warning on the possibility of a
default, allowing the seller time to withdraw from the relationship in a structured
manner and avoidance of weak buyers, with focus on profitable buyers & markets
Features
Whole turnover policy : The total turnover of a company / product
line / division is considered excluding sales under L/Cs and advance
Policy Premium : Policy Premium is based on the projected turnover.
The premium is determined taking into account the countries in which exports are
made, level of trade losses in the portfolio, risk factors of the sector
Indemnity : Upto a maximum of 90% of the credit limit placed or
the loss incurred whichever is lower
Buyer-wise Credit Limits : Credit limit represents the maximum
exposure that can be taken by the seller on a buyer at any given point of time.
Each buyer to be assigned individual credit limit
Maximum Limit of Liability (MLL) : MLL represents the maximum sum
total of claims that can be paid in a single policy period which is a function of
the premium paid under the policy
Scope of cover
Our credit insurance policy insures policy holders against commercial risks
where the buyer becomes insolvent or is simply unable to pay for goods/services
received.
This cover can also be extended to include political risks in case
of export sales. Here, the policyholder is indemnified for perils such as political
embargo, transfer delays, currency inconvertibility etc. caused by political instability
in the buyer's country.
One important asset that is vital but often overlooked is that of "trade/sundry
debtors". Put in another perspective debtors is cash to be received in the near
future. Usually debtors account for about 15% to 60% of a company's annual sales
and a default by a few large debtors could at least put the organization through
grave hardships of working capital crunch, cash flow problems, profitability issues,
etc. and if not challenge its very existence. "Credit insurance typically addresses
and tries to mitigate risks to this class of assets".
Exclusions
It does not cover a company on the following
-
Sales to subsidiary & associates
-
Genuine trade disputes
-
Sales to individuals for non commercial use
-
Pre-shipment risk
-
Consequential losses or interest on late payment
-
Nuclear explosions & contamination
-
Sales made against cash advances or confirmed letters of credit
-
Loss arising directly or indirectly due to war between two or more of the following
countries: France, China, Russia, the United Kingdom and the United States of America
To buy credit insurance policy please Register here!
Irrespective of the size of business, it is pivotal to consider liability insurance.
It is prudent to cover your business against all kinds of liabilities.
Know more about our liability products :
Public liability cover (industrial risks) policy
Public liability cover (non-industrial risks) policy
Introduction
Safety and reliability of products are an important concern to consumers, sellers
& manufacturers. Faulty products can be hazardous for the consumers' health
& property. The manufacturer/ seller of faulty could be held liable for such
damages, exposing themselves to financial losses.
Product liability insurance protects the companies exposed to above risk by financially
assisting policyholders in such situations.
Scope of cover
This policy broadly covers. Legal liability of the insured towards damages to the
third party arising due to faulty products manufactured / sold by the insured, liability
with respect to :
-
Accidental death
-
Bodily injury or disease
-
Loss or damage to property
Legal costs and expenses incurred with the prior consent of the Insurer and within
the limit of indemnity.
Sum Insured
Depending on exposure (end users, sales territories, nature of products & turnover),
the proposer has to fix two limits of indemnity under the policy :
-
Any one accident (AOA)
-
Any one year (AOY)
AOA and AOY can be in ratio of 1:1, 1:2, 1:3 and maximum can be1:4. It is not permissible
to issue the policy with unlimited liability.
Premium
Premium depends on:
-
Risk group (products to be covered)
-
Sales territories
-
Limits of indemnity selected
-
Ratio of limits
-
Turnover of products (for proposed period of insurance)
-
Claims experience
-
Quality control system & R&D strength of the insured
Significant Exclusions
This Policy does not cover liability arising out of or in connection with :
-
Product efficacy
-
Product recall
-
Product guarantee
-
Pure financial loss
-
Terrorism, war & SRCC
-
Any professional services deficiency
-
Personal injuries such as libel, slander
-
Fines, penalties and punitive or exemplary damages
Discount
Higher excess opted on a voluntary basis qualifies for discount in premium
Main Extension
-
Limited named vendor's liability
-
Technical collaborator's clause
-
North American jurisdiction clause (covering exports to American countries)
Public liability act only
Scope of cover
This policy broadly covers the Owner's statutory liability on the no-fault principle
for the following conditions resulting from an accident while handling any hazardous
substances :
-
Death of or injury to any person
-
Damage to property
Sum Insured
The public liability insurance act, 1991 provides that the Indemnity limit for any
one accident should not be less than the paid-up capital of the undertaking and
not more than the amount, as may be prescribed by rules framed under the act.
The rule currently stipulates that the Insurer is liable to pay not more than Rs.
50 million for any one accident and not more than Rs 150 million for any one-year.
Premium
Premium charged depends on two factors :
-
Limit of indemnity selected
-
Annual turnover (Gross sales of all goods including all levies and taxes)
A matching amount should be contributed towards the environment relief fund.
Significant Exclusions
This insurance policy does not cover liability arising out of willful or intentional
non-compliance of any statutory provisions, with respect to fines and penalties.
Director's & officer's liability insurance
Introduction
Directors and officers of a hold a position of trust are responsible towards the
company, the shareholders, the employees, and the public at large. They may become
liable to pay damages in scenarios such as the following :
-
Mis-statement in prospectus
-
Conflict of interest
-
Errors in annual accounts
-
Mismanagement of funds
-
Mismanagement of funds
-
Using insider information
-
Inaccurate statement of financial conditions
-
Unfair dismissal of an employee
-
Unwarranted dividend, salary, compensation payments
Our directors and officers liability policy protects the personal fortunes of individual
directors and officers, in respect of personal liabilities arising out of their
wrongful acts like breach of duty, breach of trust, neglect, error, misstatement
or misleading statement.
Salient Features
-
Former, present, future directors are all covered. (All wrongful acts committed
or alleged to have been committed)
-
Parent company and existing subsidiary companies covered
-
Defence costs payable (even in alleged criminal cases, if directors and officers
are finally acquitted)
-
Cover on claims : wrongful act committed or alleged to have been committed and all
liability reported during the period covered
Sum Insured
The policy is a subject to the terms and conditions, advance defence costs and allows
for settlements / judgements / awards against insured persons for their wrongful
acts.
The insurance policy has two coverage clauses :
-
Legal liability towards claims made against the Insured Person (s) to the extent
not indemnified by the insured organisation
-
Reimbursement to the insured organization on account of indemnification to each
Insured Person. The policy additionally covers heirs, estates & legal representatives
and spousal liabilities
Premium
Premium chargeable depends on the :
-
Limits of indemnity
-
Industry of the proposer
-
Clientele of the proposer
-
Annual turnover
-
Auditors of the company
-
Using insider information
-
Management perception to various stakeholders
-
Information gathered about the company from public sources
-
Capital structure of company: Source of shareholder funds - foreign v/s domestic
exposure, debt structure
-
Credit rating of the company to honour future financial commitments
Main Extension
Premium chargeable depends on the :
-
Liability for criminal wrongs
-
Fines and penalties for civil wrongs
-
Prior or pending litigation
-
Suits or arising from person who is a major shareholder
-
Bodily injury/ property damage Infringement of intellectual property rights
Significant Exclusions
-
Crisis communication cover
-
Risk management extension
-
Pollution defence costs extension
-
Extended reporting period
-
Auto inclusion of new subsidiaries
Professional indemnity (doctors & medical practitioners)
Protection for the experts, by the experts
For a patient, his doctor is someone who promises good health by putting him on
the right fitness condition when an emergency lands. Unfortunately, human error
cannot be eliminated and doctors are exposed to the risk of claims from clients
who have suffered loss due to neglect, error or omission.
In today's litigious world, claims can pose a significant threat to the financial
security for a medical practitioner. Your expertise is protecting the health of
your clients. Our expertise is advising you how to protect your professional interest.
Our professional Indemnity for doctors policy protects you against :
-
Claims arising out of bodily injury or death caused by error, omission, negligence
-
Legal liability including defence costs (costs, fees, expenses) incurred while investigation,
cost of representation, compensation etc
Scope of cover
This policy broadly covers :
-
Bodily injury and / or death of any patient caused by or alleged to have been caused
by error, omission or negligence in professional service rendered or which should
have been rendered by the insured doctor
-
Legal costs and expenses
Sum Insured
Depending on exposure, the proposer has to fix two limits of indemnity under the
policy :
-
Any one accident (AOA)
-
Any one - year (AOY)
AOA and AOY can be in ratio of 1:1 or 1:2.
Premium
Premium chargeable depends on the :
-
Risk group of doctor
-
Limits of indemnity selected
-
Ratio of limits
Significant Exclusions
This policy does not cover liability arising out of or in connection with :
-
Criminal acts
-
Acts committed under Influence of intoxicants / narcotics
-
Weight reduction
-
Plastic surgery
-
HIV aids
-
Radioactivity
-
Punitive and exemplary damages
-
Blood banks
-
Non compliance with statutory provisions
To buy credit insurance policy please Register here!
Shop insurance is a comprehensive policy offered by us for your shop. It covers
both the structure and contents of your shop and protects you against financial
loss in case of an unfortunate incident of fire, earthquake, fraud, burglary, etc.
It also provides compensation of liability claims and accidental benefits. Read More
Introduction
Shop insurance is a comprehensive policy offered by ICICI Lombard General Insurance
Company for your shop. It covers both the structure and its contents of your shop
and protects you against financial loss in case of an unfortunate incident of fire,
earthquake, fraud, burglary, etc. It also provides compensation of liability claims
and accidental benefits.
Fire (Building and contents) - Covers losses caused by fire, lightening,
riot, strike, storm, cyclone, flood and terrorism
Burglary - Protects contents of your shop against any loss or damage
caused by burglary or attempted burglary
Burglary of cash in safe - Provides for losses resulting from the
burglary of cash kept in safe
Cash in transit - Covers losses because of burglary of cash while
it is being carried from the bank/ATM to your shop
Glass breakage - Covers loss or damage to any fixed plain glass
caused by any accident, external and visible means
Damage to neon sign - Covers neon or glow signs displayed at your
shop premises against damage caused by fire, accident, riot, and flood
Cheque forgery - Covers loss caused by forgery or material alteration
of cheques, drafts or any other negotiable instruments issued by you or in your
favour
Fidelity - Covers direct financial losses sustained due to fraud
or any dishonest act by your salaried employees
Tenant's legal liability - This cover provides for legal liability
imposed on you by the property owner on account of damage to property by fire, earthquake,
flood and riots
Employer's liability - It provides for legal liability to your
employees
We also offer the following additional products , which you can opt for:
Health - Family floater - This cover will take care of your hospitalization
and post-hospitalization expenses. The sum insured spread over the members can be
utilized in any proportion necessary
Hospital cash - A fixed sum of money will be paid per day of hospitalization.
The cover will be for a fixed number of days within the insurance tenure of one
year
Double benefit - Under this cover a lump sum amount of money will
be paid to the insured in case both the insured and the spouse are hospitalized
together for a period of 72 hours or more
Medical expenses to insured - Covers medical expenses to the extent
of sum insured under this cover, incurred by the proposer for the hospital treatment
against any accident
Personal accident - This cover provides for the bodily injury sustained
by you because of an accident resulting in death or permanent total disability.
It also provides for ambulance charges up to Rs. 2000 and in the event of death
for the carriage of dead body
Professional indemnity - This cover will protect you from any legal
liability arising out of the dissatisfaction caused to any of your clients towards
the services rendered by you
Terrorism cover - Loss or damage due to terrorism can also be covered
under this Policy by taking an add-on cover in the form of an endorsement
Benefits / Features
Lightening fast claims - Lots of additional optional covers available making it
the most comprehensive policy
Significant exclusions
Under insurance - If the actual value of the insured property at the time of loss
under the Fire is found to be greater than the sum insured chosen by you, then the
claim would be proportionally reduced.
-
Willful destruction of property by the following
-
Damage or destruction caused by war perils
-
Wear and tear
-
Atmospheric conditions
To buy shop insurance please Register here!
Boiler and pressure plant Insurance policy
Scope of Cover
The policy broadly covers boilers and other pressure vessels, both fired and unfired
against losses due to explosion or collapse.
Sum Insured
Sum insured should be reinstatement cost of the boiler.
Premium
Premium chargeable depends on the type of boiler, type of fuel and the age of equipment.
Discount is allowed for seasonal factories and stand by facilities.
Significant Exclusions
-
Fire and allied perils
-
War and nuclear perils
-
Loss arising out of overload experiments
-
Gradual wear and tear of parts
-
Wilful acts or gross negligence
-
Consequential loss from explosion or collapse
-
Failure of individual tubes, loss due to chemical reactions
-
Loss which is manufacturer's or repairer's responsibility
Main Extension
-
Surrounding property of the Insured (including the property held in trust or on
commission)
-
Legal liability for third party bodily injury and property damage
-
Express freight, air freight and additional customs duty can also be covered by
payment of additional premium
Electronic equipment insurance policy
Introduction
Covers loss or damage to the contractor's property due to any cause that is accidental
and external in nature.
Scope of Cover
Cover operates when the insured property is at work or at rest or being dismantled
for the purpose of cleaning/overhauling or during subsequent re-erection.
The policy broadly covers :
Material damage to electronic equipment (which can include systems software) due
to sudden and unforeseen events, under Section I
Cost of external data media, including cost of reconstruction of data under Section
II, as also increased cost of working under Section III. While Section I is compulsory,
Section II and Section III are optional
Sum Insured
Section I: New replacement cost of the insured property including freight, erection
cost, customs duty, if any
Section II: Cost of restoring the external data media by replacing lost or damaged
data media by new material and lost information
Section III: Sum Insured should represent the hiring charges per hour for a substitute
equipment for ensuring continued data processing for the period of indemnity specified,
including personnel and transportation charges
Premium
Rate of premium: 1 % For equipments valued more than Rs 1,00,000, a valid maintenance
agreement is required to be in force, failing which 100 % loading is attracted.
Significant Exclusions
The policy does not cover losses/ damages due to :
-
Wear & tear
-
War, wilful act or wilful negligence
-
Aesthetic defects and consequential loss
Machinery breakdown insurance policy
Scope of Cover
The insurance policy broadly covers loss due to all kinds of accidental, electrical
and mechanical breakdowns due to internal and external causes. Cover is granted
during the time the machinery is in operation or rest or in the process of dismantling,
overhaul or during subsequent re-erection at the same premises.
Sum Insured
Value proposed for insurance should be equal to new replacement cost including freight,
erection cost, customs duty, if any.
Premium
Rate of premium depends upon the type of machinery. Discounts are offered in respect
of stand-by facility, availability of spares and favourable claims experience, subject
to rules laid down in the tariff.
Significant Exclusions
The insurance policy does not cover loss and/or damage from fire and allied perils,
theft, overloading experiments, wilful acts or gross negligence, gradually developing
flaws and deterioration from normal use.
Main Extension
-
Air freight
-
Third party liability
-
Insured's own surrounding property
-
Express freight (excluding air freight) overtime & holiday wages
Machinery loss of profit insurance policy
Scope of Cover
All perils under the machinery breakdown policy can be covered under MLOP. Hence
the main perils covered are electrical/mechanical breakdown, voltage surge, impact
damage etc.
The amount payable as indemnity is in respect of reduction in turnover/output is
the gross profits lost on account of the shortage in turnover or output during the
indemnity period in consequence of the material damage under machinery breakdown
policy.
Sum Insured
The sum insured is to be declared as annual gross profits estimated during the policy
period.
This can be arrived at by either considering gross profits on difference basis which
is revenue - variable expenses or additions basis which is net profit + standing
charges.
Premium
The premium will depend on the following factors :
-
Replenishment time required for equipment's
-
Availability of spare equipment
-
Criticality of the equipment
-
Your contractual arrangements with Suppliers
-
Replacement time
-
Ability to make up for the loss
-
Your profit forecasting pattern
Significant Exclusions
The underlying material damage policy for this MLOP cover would be machinery breakdown
policy. Hence all the exclusions of the machinery breakdown policy would be applicable
for MLOP cover.
The major exclusions would be fire and allied perils, theft & burglary, nuclear
perils, radioactive/ionisation perils, wear & tear.
Covers plant and machinery under erection
Erection all risks (EAR) policy is designed to cover plant and machinery under erection.
Interest of suppliers/manufacturers, contractors, subcontractors can be recorded
in the policy.
Scope of Cover
This policy covers risks associated with storage, assembly/erection and testing
of plant and machinery. EAR insurance provides comprehensive cover. All perils are
covered unless specifically excluded. Cover incepts from the time of unloading of
the first consignment at the project site and terminates on completion of testing
or handing over of the project to the Principal, or the period chosen, whichever
is earlier.
Sum Insured
Sum to be insured is the completely erected value of the plant and machinery inclusive
of freight, custom duty and cost of erection.
Premium
Premium depends on type, value, and duration of the project and the period of testing.
Main Extension
Policy can be extended on payment of additional premium to cover :
-
Escalation
-
Maintenance
-
Clearance and removal of debris
-
Damage to owner's surrounding property
-
Third party liability
-
Additional customs duty
-
Express freight
-
Holiday and overtime rates and wages
Contractor's plant & machinery
Introduction
This is an annual policy designed to cover construction equipment like bulldozers,
cranes, excavators, compressors, etc.
Scope of Cover
This Policy broadly covers loss or damage to the contractor's property due to any
cause that is accidental and external in nature. Cover operates when the insured
property is at work or at rest or being dismantled for the purpose of cleaning/overhauling
or during subsequent re-erection.
Sum Insured
Sum Insured of each item of machinery shall be the present day replacement cost.
Sum insured is computed from replacement cost including freight, cost of erection
and custom duty, if any.
Premium
Premium depends on the type of equipment and the location of operation.
Main Extension
Premium depends on the type of equipment and the location of operation :
-
Third party liability
-
Owner's surrounding property
-
Clearance and removal of debris
-
Overtime, express freight
-
Additional customs duty
Contractor's all risk policy
Covers all types of civil engineering projects
Contractors all risk (CAR) policy is designed to cover all types of civil engineering
projects like buildings, dams, flyovers, etc. It is possible to record the interest
of principal, contractors and subcontractors in the policy.
Scope of Cover
This policy broadly covers the risk of accidental physical loss or damage in respect
of the contract works, during the execution of a civil project. CAR insurance provides
an 'all risk 'cover. All perils are covered unless specifically excluded.
Cover incepts from the commencement of work or after unloading of first consignment
at project site, whichever is earlier and terminates on handing over of works to
the principal or expiry of policy, whichever is earlier.
Sum Insured
The sum insured shall be the fully completed value of the contract works inclusive
of all materials, wages, freights, and custom duty and materials or items supplied
by the principal.
Premium
Premium depends on factors like type, value and duration of the project.
Significant Exclusions
This policy does not cover loss or damage due to willful misconduct, cessation of
work whether total or partial, delay, damage due to faulty design, rectification
of defective material and/or workmanship inventory losses etc. Policy is subject
to deductible excess as stipulated in the tariff.
Main Extension
Main policy can be extended on payment of additional premium to cover :
-
Owner's surrounding property
-
Third party liability
-
Maintenance cover
-
Escalation
-
Clearance and removal of debris
-
Contractor's plant and machinery
To buy Industrial Insurance please Register here!
Know about our customized products :
ICICI Lombard brings you a comprehensive office package policy which is designed
specifically for office establishments including IT & ITES sector. The innovative
endeavor brings to you the flexibility to design the policy as per your needs by
allowing you to choose the covers that you may require to protect your property
and manpower, all with the convenience of a single policy.
Scope of cover
Standard fire and special perils covers perils like fire, acts of God and other
special perils
All risks insurance covers loss or damage to functional equipments like computers,
industrial equipments etc and non-functional equipments like laptops etc. against
fire, riot and strike, terrorist activity, theft, accident, any of which arising
from any fortuitous cause
Plate glass covers any loss or damage to fixed plate glass due to breakage by any
accidental, external and visible means
Burglary covers loss and/or damage by burglary, housebreaking (theft following upon
actual, forcible and violent entry of and/or exit) including hold-up risk and damage
caused to premises while attempting the same
Fidelity guarantee covers pecuniary loss sustained as a result of act of fraud or
dishonesty in respect of monies or goods of the employer committed by the employees
Money insurance covers loss of money in transit by authorized employee(s) due to
robbery, theft or any other fortuitous cause. The section also covers loss by burglary
or house breaking, robbery or hold up whilst money is retained at the Insured's
premises in safe(s) or strong room
Public liability covers can be extended to cover -Legal Liability of the Insured
towards damages to third party in respect of accidental death or bodily injury or
disease and loss or damage to property arising out of such accidents. It also covers
legal costs and expenses incurred with prior consent of the Insurer and within the
limit of the indemnity
Employer's liability (workmen's compensation) covers -two forms of risks viz, Table
'A' - Indemnity against legal liability to all employees under the W.C. Act 1923
and subsequent amendment to the said act prior to the inception of the cover, the
fatal accidents act, 1855 and at common law."
Table 'B' - Indemnity against legal liability under the fatal accidents act, 1855
and common law
Group health / Group health (floater) covers - reimbursement of hospitalization
expenses incurred for diseases contracted or injuries sustained in India. Medical
expenses up to 30 days for Pre - hospitalization and up to 60 days for post - hospitalization
are also admissible
Group personal accident covers the insured in case of accidental death, loss of
limbs and eyes, permanent total disablement and permanent partial disablement
Critical illness insurance covers the employees or the students against the nine
critical illnesses
Educational institution package policy
ICICI Lombard brings a package policy especially to meet the needs of an educational
institution, designed to offer an all round protection. This policy offers a range
of benefits like protection to property, money insurance, workmen compensation and
others. You can choose the covers you like and we will design the policy as per
your needs. Scope of cover
Standard fire and special perils : The policy covers loses due
to named perils like fire, lightning, earthquake, explosion and implosion, riot,
strike, malicious damage, storm, tempest, flood and inundation. However, the policy
does not cover losses arising out of theft and loss of earnings, loss to bullion,
documents, currency etc. for an amount exceeding Rs. 10,000, unless expressly stated
are also excluded. You can also extend the policy to cover Impact damage due to
own vehicles and terrorism.
Electronic Equipment : The plan covers perils like fire, burglary,
acts of God (AOG) and accidents, material damage due to sudden and unforeseen events,
cost of external data media. The policy does not provide coverage losses / damages
due to wear & tear, aesthetic defects
Machinery breakdown : The policy provides coverage against losses
due to all kinds of accidental, electrical and mechanical breakdowns due to internal
and external causes. The plan does not, however, cover loss and/or damage from fire
and allied perils, theft, overloading experiments, gradually developing flaws and
deterioration from normal use
All risks (portable equipment) : The plan covers your institution
from loss or damage to insured property by fire, riot and strike, accident, any
of which arising from any fortuitous cause anywhere within the geographical limit
stated. The plan, however, doesn't cover Loss or damage arising from wear &
tear, electrical breakdown, breakage of glass, theft from unattended vehicles, detention
or confiscation by customs or other authorities are also excluded unless included
specifically
Plate glass : Covers loss / damage to fixed plate glass, which
is plain and of ordinary glazing quality and/or glass with embossing, silvering,
lettering, bending/curving or ornamental work, due to breakage by any accidental,
external and visible means. It does not, however, cover Losses due to pre-existing
cracks or other imperfections, Damage to framework and Disfiguration / scratching
Burglary : The plan covers Loss and/or damage by burglary, housebreaking
(theft following upon actual, forcible and violent entry of and/or exit from the
premises) includes hold-up risk and damage caused to premises while attempting the
same. Please note that the policy doesn't cover Loss and/or damage arising out of
riot, strike, civil commotion and by use of keys to safe unless the keys are procured
by force
Fidelity guarantee : Covers pecuniary loss sustained as a result
of act of fraud or dishonesty in respect of monies or goods of the employer committed
by the employees in the course of performance of their duties. The policy does not
cover loss on account of change in any circumstances and conditions of the said
employment and loss arising outside India
Money insurance : The plan covers loss of money in transit by the
insured or insured's authorized employee(s) occasioned by robbery, theft or any
other fortuitous cause. It also offer coverage against loss of money in transit
by the insured or insured's authorized employee(s) occasioned by robbery, theft
or any other fortuitous cause. Please note that the plan does not cover losses and/or
damage due to floods, cyclones, earthquakes and other convulsions of nature, riots
and strikes and terrorist activities, shortage due to error, omission, by use of
keys to safe(s) or strong room (unless such keys are obtained by force or threat),
whilst being carried under contract of affreightment, theft from unattended vehicle
and consequential loss.
Group health / Group health (floater) : The plan reimburses hospitalization
expenses incurred for diseases contracted or injuries sustained in India and covers
medical expenses upto 30 days for pre-hospitalization and upto 60 days for post-hospitalization.
The policy, however, does not cover certain diseases and ailments such as AIDS,
Pregnancy, dental treatment, cost of spectacles/ contact lenses, diseases contracted
during first 30 days certain specified diseases during first year of the policy
and Pre-existing diseases. However you have the option to extend the coverage benefit
to cover pre-existing diseases
Group personal accident : The cover compensates the insured in
case of accidental death, loss of limbs and eyes, permanent total disablement and
permanent disablement and does not cover losses arising out of suicide, self-injury,
venereal diseases and pregnancy. Please note that the benefits could be extended
to cover medical expenses following an accident.
Critical illness insurance : The plan pays the sum insured, if
during the policy period, the insured is found to have contracted and survives such
critical illness for at least 30 days from the date of its discovery. The critical
illnesses covered are: cancer, kidney failure, stroke, paralysis, end stage liver
disease, major organ transplant, heart valve replacement, coronary artery bypass
graft surgery and myocardial infarction (heart attack). The diseases that are covered
are Pre-existing illness, congenital illnesses, claims related to pregnancy/childbirth,
HIV/AIDS/sexually transmitted diseases
Public liability (non-industrial risk) : Covers legal liability
of the Insured towards damages to third party in respect of: 1. Accidental death,
bodily injury or disease 2. Loss or damage to property arising out of such accidents
3. Legal costs and expenses incurred depending on exposure, two limits of indemnity
under the section have to be fixed 4. Any one accident (AOA) 5. Any one year (AOY)
AOA and AOY can be in the ratio of 1:1, 1:2, 1:3 or 1:4. The plan does not cover
pollution liability, any product liability, any professional services deficiency,
personal injuries such as libel, slander, fines, penalties and punitive and exemplary
damages. The policy can be extended to cover Sports facilities and Swimming pool
Employer's liability (workmen's compensation): Covers two forms
of insurance: Table 'A' - Indemnity against legal liability to all employees (whether
or not coming within the definition of the term workmen) under the W. C. Act 1923
and subsequent amendment to the said Act prior to the inception of the cover, the
fatal accidents Act, 1855 and at common Law. Table 'B' - Indemnity against legal
liability under the fatal accidents Act, 1855 and common law. (Table 'B' policies
may not be issued to cover employees who fall within the definition of "Workmen"
under the workmen's compensation act, 1923 as amended).
The plan does not offer coverage for losses arising out of contractual liabilities
General exclusions
-
War & warlike operations & civil commotion
-
Nuclear perils & radioactive contamination
-
Consequential losses of any kind
-
Willful act or gross negligence or willful negligence
-
Any loss/damage arising out of terrorism, except in health and PA related covers
Hotel corporate cover is designed specifically for hospitality industry/hotel sector.
The innovative endeavor brings to you the flexibility to design the policy as per
your needs by allowing you to choose the covers that you may require to protect
your property and manpower, all with the convenience of a single policy. Scope of cover
Standard fire and special perils covers perils like fire, acts of God and other
special perils
Boiler pressure plant insurance covers boilers and other pressure vessels both fired
unfired against losses due to explosion or collapse
All risks insurance covers loss or damage to functional equipments like computers,
industrial equipments etc and non-functional equipments like laptops etc. against
fire, riot and strike, terrorist activity, theft, accident, any of which arising
from any fortuitous cause
Plate glass covers any loss or damage to fixed plate glass due to breakage by any
accidental, external and visible means
Burglary covers loss and/or damage by burglary, housebreaking (theft following upon
actual, forcible and violent entry of and/or exit) including hold-up risk and damage
caused to premises while attempting the same
Fidelity guarantee covers pecuniary loss sustained as a result of act of fraud or
dishonesty in respect of monies or goods of the employer committed by the employees
Money insurance covers loss of money in transit by authorized employee(s) due to
robbery, theft or any other fortuitous cause. The section also covers loss by burglary
or house breaking, robbery or hold up whilst money is retained at the Insured's
premises in safe(s) or strong room
Public liability covers can be extended to cover -Legal Liability of the Insured
towards damages to third party in respect of accidental death or bodily injury or
disease and loss or damage to property arising out of such accidents. It also covers
legal costs and expenses incurred with prior consent of the Insurer and within the
limit of the indemnity
Employer's liability (workmen's compensation) covers -two forms of risks viz, Table
'A' - Indemnity against legal liability to all employees under the W.C. Act 1923
and subsequent amendment to the said act prior to the inception of the cover, the
fatal accidents act, 1855 and at common law."
Table 'B' - Indemnity against legal liability under the fatal accidents act, 1855
and common law
Group health / Group health (floater) covers - reimbursement of hospitalization
expenses incurred for diseases contracted or injuries sustained in India. Medical
expenses up to 30 days for Pre - hospitalization and up to 60 days for post - hospitalization
are also admissible
Group personal accident covers the insured in case of accidental death, loss of
limbs and eyes, permanent total disablement and permanent partial disablement
Key benefits
This policy gives coverage for all of its properties and assets and employees. This
policy is specifically designed keeping the requirements of hospitality sector in
mind, for example boiler and pressure plant insurance which is unique to this industry,
is available under this policy. Flexibility of designing the policy as per your
needs, allows you to choose the covers that you may require to protect your property
and manpower, all with the convenience of a single policy.
Premium
The premium is rate is different for different sections under the policy. Based
on the covers chosen, the combined premium is calculated based on amount of risks
to be covered under each one of the sections. For example, under all risk insurance,
the premium is determined based on the type of equipments and also no of those equipments,
for group personal accident policy, the premium depends on the type of employees,
amount of sum insured opted for each employee and no of employees to be covered
under the policy.
FAQs
Who can buy this policy?
Hotels, cafes, guest houses or any establishment in the hospitality sector can buy
this policy
Which are the compulsory sections under this policy?
You can opt for any two or more sections available under this policy.
Can I cover more than one property under one package policy?
Yes, this facility is available under this policy.
Petrol station package policy
ICICI Lombard brings you a package policy meant for petrol pumps, CNG stations and
all other properties inside the petrol stations. This innovative endeavor brings
the flexibility of designing the policy as per your needs. It allows you to choose
the covers that you may require to protect your property and manpower, all with
the convenience of a single policy. The various covers that are offered by the product
are mentioned below. Scope of cover
Standard fire and special perils covers perils like fire, acts of God and other
special perils
Plate glass covers any loss or damage to fixed plate glass due to breakage by any
accidental, external and visible means
Burglary covers loss and/or damage by burglary, housebreaking (theft following upon
actual, forcible and violent entry of and/or exit) including hold-up risk and damage
caused to premises while attempting the same
Fidelity guarantee covers pecuniary loss sustained as a result of act of fraud or
dishonesty in respect of monies or goods of the employer committed by the employees
Money insurance covers loss of money in transit by authorized employee(s) due to
robbery, theft or any other fortuitous cause. The section also covers loss by burglary
or house breaking, robbery or hold Up whilst money is retained at the Insured's
premises in safe(s) or strong room
Public liability covers can be extended to cover -Legal Liability of the Insured
towards damages to third party in respect of accidental death or bodily injury or
disease and loss or damage to property arising out of such accidents. It also covers
legal costs and expenses incurred with prior consent of the Insurer and within the
limit of the indemnity
Employer's liability (workmen's compensation) covers -two forms of risks viz, Table
'A' - Indemnity against legal liability to all employees under the W.C. Act 1923
and subsequent amendment to the said act prior to the inception of the cover, the
fatal accidents act, 1855 and at common law."
Table 'B' - Indemnity against legal liability under the fatal accidents act, 1855
and common law
Group health / Group health (floater) covers - reimbursement of hospitalization
expenses incurred for diseases contracted or injuries sustained in India. Medical
expenses up to 30 days for Pre - hospitalization and up to 60 days for post - hospitalization
are also admissible
Group personal accident covers the insured in case of accidental death, loss of
limbs and eyes, permanent total disablement and permanent partial disablement
Key benefits
This policy gives coverage for all of its properties, assets, cash, dishonesty of
the workers & workers employed by you to run the petrol station. Flexibility of
designing the policy as per your needs, allows you to choose the covers that you
may require to protect your property and manpower, all with the convenience of a
single policy.
Premium
The premium for this policy is calculated based on the covers opted for and also
the values of the property, machinery.
FAQs
Who can buy this policy?
Petrol/CNG station owners can buy this policy
Can a retail outlet in the petrol station premise be covered under this policy?
Yes, any property inside the petrol pump can be covered under this policy.
Can I cover more than one property under one package policy?
Yes, this facility is available under this policy.
ICICI Lombard brings package policy meant for shopping malls, multiplexes, cinema
halls, lifestyle centers, megamarts, hyper malls etc. This innovative endeavor brings
the flexibility of designing the policy as per your needs. It allows you to choose
the covers that you may require to protect your property and manpower, all with
the convenience of a single policy. The various covers that are offered by the product
are mentioned below. Scope of cover
Machinery breakdown covers loss due to accidental electrical and mechanical breakdowns
to machinery :
Standard fire and special perils covers perils like fire, acts of God and other
special perils
Machinery breakdown covers loss due to accidental electrical and mechanical breakdowns
to machinery
Electronic equipment covers losses due to perils like fire, burglary, acts of God
(AOG) and accidents to electronic equipment
All risks (portable equipments) covers loss or damage to portable equipments by
fire, riot and strike, terrorist activity, theft, accident, any of which arising
from any fortuitous cause
Plate glass policy covers any loss or damage to fixed plate glass due to breakage
by any accidental, external and visible means
Burglary policy covers Loss and/or damage by burglary, housebreaking (theft following
upon actual, forcible and violent entry of and/or exit) including hold-up risk and
damage caused to premises while attempting the same
Fidelity guarantee policy covers pecuniary loss sustained as a result of act of
fraud or dishonesty in respect of monies or goods of the employer committed by the
employees
Money policy covers loss of money in transit by authorized employee(s) due to robbery,
theft or any other fortuitous cause. The section also covers loss by burglary or
house breaking, robbery or hold Up whilst money is retained at the Insured's premises
in safe(s) or strong room
Public liability Policy can be extended to cover - legal liability of the Insured
towards damages to third party in respect of accidental death or bodily injury or
disease and loss or damage to property arising out of such accidents. It also covers
legal costs and expenses incurred with prior consent of the Insurer and within the
limit of the indemnity
Employer's liability (workmen's compensation) covers - two forms of risks viz, a.
Table 'A' - Indemnity against legal liability to all employees under the WC act
1923 and subsequent amendment to the said act prior to the inception of the cover,
the fatal accidents act, 1855 and at common law." b.Table 'B' - Indemnity against
legal liability under the fatal accidents act, 1855 and common law
Group personal accident covers - a. The insured in case of accidental death, loss
of limbs and eyes, permanent total disablement and permanent partial disablement
b. Critical care insurance provides benefits in case of nine defined critical illnesses
Key benefits
This policy gives coverage for all of its properties, assets, cash, machineries,
electronic equipments and also the employees. Flexibility of designing the policy
as per your needs, allows you to choose the covers that you may require to protect
your property and manpower, all with the convenience of a single policy.
Premium
Premium under the policy is calculated based on no of sections opted for, values
of the property, no of workers and also amount covers opted for each of the workers
and various other policies like liability policy.
FAQs
Who can buy this policy?
Shopping malls, multiplexes, cinema halls, lifestyle centers, megamarts, hyper malls
can buy this policy
Are the cars parked in the shopping mall premises covered under the policy?
No.
Can I cover more than one property under one package policy?
Yes, this facility is available under this policy.
Introduction
Tea manufacturing is a prominent industry in India. Like other crops, tea too is
exposed to various natural and man-made perils. Tea crop policy is specially designed
for manufacturing, transit and growth of tea. The cover is divided into three sections
covering not just the plucking and transporting of tea but also the storage and
blending and packing. Right from the time the green leaf is plucked till it reached
the distributors'/ wholesalers' godowns, we take care of the unforeseen events that
can affect your business.
Scope of cover
The cover is divided into three sections :
Section I : Is applicable to tea crop insurance for policies issued
garden wise only this insurance attaches from the time the green leaf is plucked
at the assured's estate and while being processed at the factory. It continues while
in transit by approved conveyance(s) and/or vessel(s).
Section II : Is applicable to inland & overseas transits of tea,
including storage. Transit policies are issued to individuals or companies, who
purchase "Made" teas sold at gardens and/or the various auction centres of India
and/or from any other source with a view to dispatching the same to various places
in India or abroad to buyers or distribution centres
Section III : Transit includes storage for blending, processing,
packing, etc of made tea. Policies under this section are issued to cover transits
within India between purchase centres and F.O.B. points/Inland sale outlets/wholesalers
depots/ distributors, including cover during processing, blending and packing at
various incidental storages at godowns/ warehouses. Such policies may be issued
to individuals or corporate bodies or garden owners. This insurance is against all
risks of physical loss of or damage to the subject-matter insured
Sum insured
Sum insured can be selected either on :
-
Agreed value or
-
Provisional value basis
For arriving at the provisional value, average realised value for three completed
and adjusted years immediately preceding the expiring year should be taken into
account.
Significant exclusions
This policy does not cover loss or damage to green leaf or partly/wholly manufactured
tea caused by :
-
Absence or shortage of labour
-
Stoppage of power supply
-
Breakdown of machinery
-
Fault
-
Any trade loss
-
Neglect or defect in the manufacturing process or packing materials
-
Loss pertaining to previous season's manufactured Tea held back in garden
Main extension
-
War
-
Strike
-
Civil commotion (for overseas shipments)
-
Riot
-
Storage cover
To buy customized business products please Register here!
To help us remind you your general insurance policy Expiry & renewal please
Register
here!
If you are already registered please fill in the following information along with
your registration number :
After a valuable professional career with an organization, employees require the
security of a regular income flow when they retire. You can help your employees
secure their golden years by offering them retirement benefits like superannuation.
This flexible plan for both, defined benefit and defined contribution, provides
retirement & tax benefits applicable to an approved superannuation trust. Read More
Group superannuation
plan
You have always provided your team with competitive salaries. Surely you would want
to assist them to save a portion of their income such that they can continue to
enjoy its value even after they retire.
Invest in group superannuation plan-a tax-efficient means of retirement planning,
which is applicable for both, defined benefit and defined contribution funds.
Eligibility
Group superannuation plan covers :
-
Employer - employee groups
-
Group size of 25 and above
-
Employees (members) between the age of 18 and retirement age of the company
Superannuation
benefits payable
On retirement
On retirement the trustees/individual member would be able to choose from different
annuity options then available. A portion of the accumulated amount may be commuted
for payment of lump sum on retirement etc., subject to the provisions of the scheme
rules and the provisions of income tax rules.
On death
In the event of death of the employee, the accumulated amount will be used for payment
of benefits to the beneficiary as per the rules of the scheme. Beneficiaries can
commute entire corpus tax-free, if the scheme rules prevail.
On withdrawal (Resignation / termination of service)
In the event of leaving service of an employer, the employee normally has the option
to either transfer the money to approved superannuation fund of the new employer
or leave the money with the trust and purchase annuity on reaching normal retirement
date or purchase an immediate annuity. All these will be subject to the provisions
of the rules of the scheme, approval of the income tax authorities.
To give superannuation benefits to your employees please
Register here!
Your employees have worked all these years for you and now you should ensure that
he spends a financially secure and stable retired life.
It is employer's responsibility to ensure that all his employee's retirement savings
are invested in such a manner that lets him enjoy his retired life with a surety
that he would not outlive his retirement savings. A group Gratuity plan has a solution
that fits such needs.
Read More
To give annuity benefits to your employees
Register here!
Employees work with utmost dedication when they believe their organization truly
cares about their wellbeing. One sure shot way for an employer to retain his team
is to shoulder the responsibility of security for their families.
Group term is a flexible solution that insures your employees against unfortunate
incidents like death, disability or disease. The benefits under the policy would
be payable to the member / beneficiary on occurrence of the event. Read More
To give group term benefits to your employees
Register here!
Gratuity is a statutory benefit paid to the employees under the payment of gratuity
Act, 1972 who have rendered continuous service for at least five years. The employee
is eligible for 15 days of pay for each completed year of service.
An employer may pay out gratuity proceeds from his current revenue, however, to
ascertain the gratuity liability of the employer and for more prudent financial
planning, it is beneficial to set up a gratuity fund. Read More
Gratuity - the
loyalty reward
Gratuity is a statutory benefit paid to the employees under the payment of gratuity
Act, 1972 who have rendered continuous service for at least five years. The employee
is eligible for 15 days of pay for each completed year of service. The employer
can also structure a gratuity benefit that is higher than statutory requirements.
The gratuity benefit is payable on cessation of employment (either by resignation,
death, retirement or termination, etc) by taking the last drawn salary as the basis
for the calculation.
Gratuity payment liability tends to increase as the salaries and tenure of employment
increase annually. An employer may pay out gratuity proceeds from his current revenue,
however, to ascertain the gratuity liability of the employer and for more prudent
financial planning, it is beneficial to set up a gratuity fund.
Group gratuity plan
Group gratuity plan also offers a unit-linked group gratuity plan that helps you
to fund the statutory gratuity obligation in a scientific manner and also avail
of the tax benefits as applicable to approved gratuity funds.
Eligibility
Our group gratuity plan covers :
-
Employer - employee groups
-
Group size of 25 and above
What is the gratuity benefit payable?
The employer can provide gratuity benefits as per the rules of the schemes framed
with reference to the gratuity act or on better terms as decided by the company.
The benefit payable will be the accrued gratuity amount for the employee and the
bundled life cover (in case of death).
To set up gratuity fund for your organization
Register here!
Are you running a scheme for your employees that offers benefits like leave encashment
that will be payable in the future? .
Since such liabilities increase with time, it may become difficult to pay the benefits
as you go. It is therefore beneficial that the employer sets up a separate fund
from which these benefits may be paid out. Read More
Group leave encashment
Are you running a scheme for your employees that offers benefits like leave encashment
that will be payable in the future? Since such liabilities increase with time, it
may become difficult to pay the benefits as you go. It is therefore beneficial that
the employer sets up a separate fund from which these benefits may be paid out.
We now offer you market linked group leave encashment policy designed to fund for
such benefits. The contributions that you pay to fund your scheme will be invested
in our unit-linked funds and will be available for payment of the benefits when
they fall due. Additionally, the product also provides for term cover for all the
employees covered under the policy.
Investment options
Our unit-linked funds offer high flexibility and transparency. We offer 4 fund options
under the group leave encashment policy to meet your diverse needs. The investments
will be made in accordance with the following fund objectives.
Key features
Multiple investment options - Choice to invest across multiple fund options with
a flexible investment pattern
Switching option - While you have chosen a fund option, you have the flexibility
of switching between our various funds at any time
Premium redirection - The annual contributions can be redirected for investments
into a fund of your choice and need not adhere to the original investment pattern
Portfolio disclosure - Quarterly disclosure of the funds ensures better transparency
NAV declaration- NAVs are declared daily except on bank holidays, exchange holidays,
saturdays & sundays and days in which corporate office or banks or exchange
are closed,enabling you to track the performance of the fund chosen by you
To set up Leave encashment fund for your organization Register here!
Group personal accident insurance policy covers the employees and/or their families
against death, disablement or loss of earning capacity due to unforeseen accidents.
The insurance policy compensates the Insured and/or their family in case of accidental
death, loss of limbs and eyes, permanent total disablement and permanent partial
disablement. Read
More
Scope of cover
The insurance policy compensates the Insured in case of accidental death, loss of
limbs and eyes, permanent total disablement and permanent partial disablement.
Sum Insured
The sum Insured can be decided on the basis of earning capacity of the insured person.
Premium
The premium chargeable for the policy depends on occupation of the Insured person
and the table of benefits availed.
Significant Exclusions
The insurance policy does not cover losses arising out of suicide, self-injury,
venereal diseases, war and nuclear perils and pregnancy.
Group Discount
The group Policy is eligible for group discount based on the size of the group.
The group is eligible for group discount based on the size of the group.
Main Extension
Medical expenses following an accident.
To give personal accident cover to your employees Register here!
Group health insurance policy insures all your employees as well as their families
against unforeseen medical expenses.
We allow you the flexibility to choose covers as per your needs, we also offer coverage
on critical illness and advanced technological surgeries & procedures that requires
less than 24 hrs hospitalization. Read More
Scope of cover
Policy covers reimbursement of hospitalization expenses incurred for diseases contracted
or injuries sustained in India.
Pre - hospitalization: Medical expenses upto 30 days
Post - hospitalization: Medical expenses upto 60 days
Sum Insured
Minimum Rs. 15,000/- and Maximum Rs. 5,00,000/-
Premium
Premium chargeable depends upon age of the person and the Sum Insured selected.
Age limit is 5 to 80 years. Children above 3 months can be covered provided one
or both parents are covered concurrently.
Significant Exclusions
Pre existing diseases, diseases contracted during first 30 Days, cost Of spectacles
/ contact lenses, dental treatment, AIDS, pregnancy and certain specified diseases
during first year of the policy.
Group Discount
Policy can be given to corporate body, institution, association and slab wise group
discount is admissible on standard premium if the group size exceeds 100. Larger
the group size higher is the discount. Favourable claims experience is recognized
by discount and conversely, unfavourable claims experience attracts loading on renewal
premium.
Main Extension
Policy can be extended to cover maternity benefits on payment of additional premium.
To give health cover to your employees Register here!
Workmen's compensation policy offers monetary compensation to the employees in case
of medical emergencies during their employment period. This policy can be issued
even to the employees who do not fall in the scope of workmen�s compensation act,
1923. Read More
Scope of cover
The policy, provides for two forms of insurance viz
Table 'A' - Indemnity against legal liability to all employees
(whether or not coming within the definition of the term workmen) under the W.C.Act
1923 and subsequent amendment to the said act prior to the date of issue of the
policy, the fatal accidents act 1855 and at common law.
Table 'B' - Indemnity against legal liability under the fatal accidents
act, 1855 and common law. (Table 'B' policies may not be issued to cover employees
who fall within the definition of "Workmen" under the workmen's compensation act,
1923 as amended).
Sum Insured
The policy does not have a sum insured but the estimated "Earnings" of the workmen
for the policy period is mentioned on the policy
Premium
The premium rate depends on the occupation of the workmen and his/her annual "Earnings"
Significant Exclusions
The insurance policy does not cover losses arising out of war and allied perils,
nuclear activities and contractual liabilities.
Main Extension
-
Medical expenses
-
Strike
To protect your organization against any medical emergency liabilities arising during
your employee's employment period Register here!
Loan against property is the perfect way to unlock the hidden value of your property.
With this loan, you can fully benefit from life's little surprises you may have
earlier passed over due to lack of funds.
Live your dreams with a loan against property! This multi-purpose loan puts funds
at your disposal to use as you wish. What's more, this loan is available at a reasonable
rate and can be repaid comfortably over as many as 15 years.
The ICICI Bank's loan against property can be used for any purpose.
Expand your business!
No longer do you have to stifle your creative ideas. With funds at your disposal,
you can now expand your business without hesitation.
To get loan against property Register here!
Loans against securities offers you instant liquidity.
You don't have to sell your securities. All you have to do is pledge your securities
in favour of ICICI Bank. We will then grant you an overdraft facility up to a value
determined on the basis of the securities pledged by you. A current account will
be opened and you can withdraw money as and when you require. Interest will be charged
only on the amount withdrawn and for the time span utilised.
This facility is available against demat shares, mutual fund units, Insurance policies,
bonds, NSC/ KVP.
To get loan against securities Register here!
This product is suitable for clients engaged in retail business like apparels, jewellery,
departmental stores & any other retail entity having EDC terminals.
Loan is given based on average annual credit card sales.
To get loan against credit card receivables Register here!
If you have an overdraft account, the bank will cover checks which would otherwise
bounce. As with any loan, you pay interest on the outstanding balance of an overdraft
loan.
To get overdraft facility
Register here!
Drop-line overdraft is a hybrid between a term loan and an overdraft facility. You
are charged interest only on the amount utilized by you.
To avail this facility
Register here!
You need to purchase capital assets, finance a business expansion, acquire a competitor,
or refinance an existing debt? You need financing that offers consistent payments
on a predictable payment schedule?
We offers term loans to fund your asset purchases and support your business growth.
To get term loan please
Register here!
Demand loans are loan agreements that provide the lender with the ability to demand
full payment of the remaining balance of the loan at any point in time after the
loan is executed.
Demand loan does not include a specific maturity or payment date. Interest is paid
only until the principal is paid off, or until the lender demands repayment of principal.
The borrower may, however, pay off the loan early, without incurring a prepayment
penalty.
To get demand loan please
Register here!
The companies you do business with undoubtedly have impeccable credentials. But
why take a chance? ICICI Bank's letter of credit facility arms you with a guarantee
of payment, especially useful while transacting with companies who you have had
limited exposure to in the past.
A letter of credit is a letter from ICICI Bank guaranteeing that a buyer's payment
to a seller will be received on time and for the correct amount. This guarantee
of payment helps you transact with companies with whom you have had limited interaction
and are unsure of their credit history.
To avail this facility
Register here!
Under export credit loan, finance, or guarantee is provided enabling companies to
export goods and services in situations where payment for them may be delayed or
subject to risk.
To avail this facility
Register here!
Our bank guarantees are competitively priced with few requirements like cash margin
and collateral security, and will be made available to you in the shortest possible
time.
ICICI bank also issues bank guarantees in foreign currency on behalf of our exporters
for approved purposes as defined under FEMA, subject to availability of credit limits
or against 100% cash margin.
To avail this facility
Register here!
ICICI Securities ltd is the largest equity house in the country providing end-to-end
solutions (including web-based services) through the largest non-banking distribution
channel so as to fulfill all the diverse needs of retail and corporate customers.
ICICI Securities (I-Sec) has a dominant position in its core segments of operations
- corporate finance including equity capital markets. advisory services, institutional
equities, retail and financial product distribution.
In our endeavor to upgrade our services constantly for our customers we are happy
to introduce corporate services for our valued corporates.
This service will help corporates identify and fulfill their financial requirements
in terms of protection of assets, managing investments and funding goals.
Equity- investing in cash & derivatives through Corporate 3-in-1 account
Mutual funds- Liquid and Debt funds of 20 top AMCs online and a host of other funds
offline
IPO & Bonds- Online investment in IPO�s and Bonds through 3-in-1 account
Fixed deposits of ICICI HFC FD, Mahindra & Mahindra FD, HDFC FD, LIC HF and
a lot more to add to the list
ICICI Securities has a dedicated practice to assist companies with capital mobilization
through the private equity / venture capital route across their life-cycle.
We help companies to raise capital during the seed, growth and expansion phases
as well as acquisition financing, structuring the deal to maximize value for all
its stakeholders.
Our extensive industry knowledge across multiple sectors, wide-ranging deal structuring
capabilities and thorough grasp of the regulatory environment make us the 'banker
of choice', for companies and private equity funds alike.
We have working relationships with all major private equity players, both in India
and abroad and can facilitate access for our clients to these investors. We advice
on a wide variety of products including mezzanine and private equity financing,
secondary sale transactions, pre-IPO deals and preferential allotments by listed
companies.
ICICI Securities has been at the forefront of capital markets advisory for several
decades and has also been involved in most of the major book- building and fixed
-price public equity issuances in recent times. We are amongst the leading underwriters
of Indian equity and equity linked offerings with unparallel execution capabilities.
We provide end-to-end fund raising solutions, from structuring to placement of the
equity instrument.
Our products include initial public offerings (IPOs), rights offerings, convertible
offerings, and private placement and international offerings, for both, unlisted
and listed entities.
How do you get your employees to focus on your job and stay committed for long tenures?
Human resource experts agree that employees work with utmost dedication when they
believe their organization truly cares about their wellbeing. Your kind gesture
to safeguard their family's future will undoubtedly serve as great encouragement
for your employees, and they will gladly offer you their whole-hearted commitment.
One way of showing your concern for your employees is to shoulder the two responsibilities
they worry about most: Security of and savings for their families. Group insurance
plans from ICICI Prudential enables you to effortlessly provide your employees with
both, savings and security, so they can pass on the benefits to their loved ones.
Group Plans
To avail I-Sec enterprise service Register here!
Wealth is the result of a recognized opportunity. We understand this and we work
with you to plan and manage your financial opportunities prudently.
We also extend a host of services so you can remain focused on immediate objectives
while we take care of all your wealth management requirements.
Online trading & mutual funds
We bring to you the best value for money through competitively priced brokerage
charges for online share trading services from www.icicidirect.com. With a 3-in-1
account consisting of a trading account, ICICI Bank savings account and demat account,
you can stay connected to the market at all times.
We bring to you the best value for money through competitively priced brokerage
charges for online share trading services from www.icicidirect.com. With a 3-in-1
account consisting of a trading account, ICICI Bank savings account and demat account,
you can stay connected to the market at all times.
Our structured product offerings are tailor-made to suit your investment objective
and risk appetite. Our services include portfolio management services and specially
designed products that are equity or index- linked in nature
We offer products which complement your existing investments eg. art funds, private
equity funding, realty funds. So, if you�re looking beyond the stock market, you'll
find us there too!!!
Choose from our wide variety of fixed deposits. Be it that recurring deposit for
your monthly savings plan, or your floating rate deposits to take advantage of dynamic
interest rates. We have them all.
Life insurance & retirement solution
No need to worry about your family's future or your expenses post-retirement. We
have protection and pension covers too for you.
We don't just protect your life, but also make everyday living simple. We offer
products in areas of health insurance, home insurance, travel insurance and motor
insurance. So stay protected wherever you are�be it driving your favorite car or
flying the skies!!!
The equity advisory group consists of a team of specialists dedicated to providing
customized investment solutions aimed at maximizing returns from the capital markets.
Equity advisory group- value proposition
Your personal relationship manager will develop a tailormade investment strategy
after thoroughly understanding your financial objectives and risk profile. He will
also keep you updated of all relevant information pertaining to your financial needs
Our team of financial experts will systematically scan the investment universe to
identify suitable opportunities for you. They will also review your portfolio to
monitor risk and align them with your requirements
We encourage active participation of our clients in the investment process. They
will have access to technical and fundamental analysis workshops, exclusive meetings
with company managements and investor camps
To avail I-Sec key-man service Register here!
The primary objective of ICICIdirect.com is to empower the individual to take complete
control of his investments and offer the entire basket of investment options by
giving him a democratic medium of investment with a seamless structure that integrates
his bank account; his demat account and the trading account. It is also meant to
allow the investor to imbibe self-discipline and take control of the investments
made by him.
ICICI securities- The 3-in-one account
ICICI securities- The 2-in-one account
ICICIdirect.com offers you various options while trading in shares :
Cash trading : This is a delivery based trading system, which is
generally done with the intention of taking delivery of shares or monies
Margin trading : You can also do an intra-settlement trading upto
3 to 4 times your available funds, wherein you take long buy/ short sell positions
in stocks with the intention of squaring off the position within the same day settlement
cycle
Margin plus trading : Through margin plus you can do an intra-settlement
trading upto 25 times your available funds, wherein you take long buy/ short sell
positions in stocks with the intention of squaring off the position within the same
day settlement cycle. Margin plus will give a much higher leverage in your account
against your limits
Futures : Through ICICIdirect.com, you can now trade in index and
stock futures on the NSE. In futures trading, you take buy/sell positions in index
or stock(s) contracts having a longer contract period of up to 3 months.
Options : An option is a contract, which gives the buyer the right
to buy or sell shares at a specific price, on or before a specific date. For this,
the buyer has to pay to the seller some money, which is called premium. There is
no obligation on the buyer to complete the transaction if the price is not favorable
to him
Investing in mutual funds
ICICIdirect.com offers you various options while investing in mutual funds :
Purchase : You may invest/purchase from a host of finds without the hassles of filling
application forms
Redemption : You can redeem the mutual fund units through ICICIdirect.com. The money
will be credited to your bank account automatically 3 days after the order placement
date
Switch : You can switch your monies online from one scheme to another in the same
fund family without any hassles
Systematic investment plans (SIP) : SIP allows you to invest a certain sum of money
over a period of time periodically. ICICIdirect.com will do the rest for you automatically
investing periodically for you
The active trader service is an innovative offering from ICICI Securities which
is ideal for those who are truly 'born traders'.
As a customer of the active trader service, we assure you truly personalized service
with a dedicated relationship manager assigned to your account.
We have also set up a special research team who are focused on helping you achieve
your targets. The research team which has developed a robust set of research products
to help you make informed investment decisions, depending on your risk profile,
by analyzing derivative market cues and other news, market and corporate information.
Life insurance - Term
plans :
Life insurance ensures that your family will receive financial support in your absence.
Put simply, life insurance provides your family with a sum of money should something
happen to you. It protects your family from financial crises.
The core benefit of life insurance is that the financial interests of one�s family
remain protected from circumstances such as loss of income due to critical illness
or death of the policyholder. Simultaneously, insurance products also have a strong
inbuilt wealth creation proposition. The customer therefore benefits on two counts
and life insurance occupies a unique space in the landscape of investment options
available to a customer.
Life insurance - Retirement plans :
A retirement plan is an assurance that you will continue to earn a satisfying income
and enjoy a comfortable lifestyle, even when you are no longer working. An increasing
number of young Indian professionals are moving away from the traditional joint
family structure. Since support no longer comes easily, parents have realized the
need to provide for themselves during their retirement years.
ICICI Prudential offers two key retirement plans, life link super pension and life
time super pension - flexible income cum insurance plans that ensure you meet all
your retirement requirements. So you can retire peacefully from work, but not from
life.
General insurance - motor
insurance :
A comprehensive package policy for your two wheeler or four-wheelers, securing them
against damage caused by natural and man-made calamities.
It covers you against acts of terrorism. You may also avail of personal accident
and third party liability cover in the same policy.
General insurance - Family floater health plan :
Secure your family against financial emergencies during sudden illness, surgery
and accidents as well as against terrorist activities.
Family floater health insurance covers your entire family under a single policy.
The coverage is shared amongst the members of your family, hence your entire family
gets protection under a single plan.
To avail I-Sec employee service Register here!
In our endeavor to upgrade our services constantly for our customers we are happy
to introduce corporate solution for our valued customers.
Corporate solution is an automated mechanism Which will help the corporates in identifying
and fulfilling requirements in terms of protection of assets, managing investments
& funding Goals.
To give you an idea of what this process will lead you to, we have a sample report.
To view the sample report please Click here!
Thank you for your valuable inputs. From the answers that you have given we understand that you have one or more financial needs.
|
To help us assess your financial needs in detail and give you a corporate solution please register here!
|
Name of the Company
|
C. K. Enterprise
|
Contact Person
|
Aditya Guglot
|
Designation
|
AVP - finance
|
Mobile No.
|
9930640898
|
Work Phone
|
31021842
|
E-mail ID
|
aditya@ckenterprises.com
|
Match ID
|
-
|
Nature of Business
|
Manufacturing
|
Ownership
|
Partnership
|
Dear Sir,
We would like to thank you for taking some time and helping us understand your requirements.
This report broadly helps you understand your present situation, summarizes your
future plans and provides a snapshot of our product offerings that maybe suitable
for your organization.
As always, please feel free to call your Corporate manager, Sandeep Parikh at 98706
18514.
Protecting your assets
Property Details
As per your indications you do not have any cover against fire for your warehouse.
We feel that a fire insurance is essential to protect all your commercial properties
where losses due to fire can be extensive.
If there are any unforeseen event(s), there is a loss in revenue due to interruptions
in business. Therefore, consequential loss (fire) insurance policy is an essential
cover to compensate your business for such losses.
You also have an option to take a public liability insurance (non-industrial)
policy, which covers the legal liability arising from damages to third
party with respect to accidental death, injuries or damage of property.
Vehicle Details
Vehicles Type
|
No. of Vehicles
|
Latest Expiry of Existing Insurance
|
Commercial
|
15
|
31/03/2009
|
Company owned cars
|
5
|
30/06/2009
|
We see that some of your vehicles have not been insured against liability arising
out of death or injury caused to the third party or passengers. Vehicle insurance
protects you from such losses. Also, your vehicle(s) Insurance are due for expiry.
We recommend you to get these renewed.
Employee Details
Employees
|
No. of Employees
|
Average Age
|
Permanent Employees
|
50
|
30
|
Director's and officer's liability insurance covers any significant
loss of business arising out of wrongful acts of your key employees.
Your employees contribute the most to your business. So we would recommend you to
provide them with following benefits :
Health Insurance : For giving your employees a benefit of health
cover of Rs. 3 lac, your indicative premium charges would be approximately Rs. 96200
(for 50 employees) Note: This is maximum premium you may have to pay, actual amount
may vary depending on the sum insured
Personal Accident Insurance : For giving your employees a personal
accident cover (covers risk of death, permanent total disability and Permanent partial
disability) of Rs. 5 lacs, your indicative premium would be approximately Rs. 31250
(for 50 employees). Note: This is maximum premium you may have to pay, actual amount
may vary depending on the benefits you would like to give and the sum insured
Credit cycle
Your business involves selling goods/services on credit. Such transactions carry
inherent default risks. Credit insurance offers protection against defaults and
ensures peace of mind when doing business transactions on credit.
Investments / Cash Management
As per your profile, you make your investments off line. We recommend you to open
a corporate 3-in-one trading account with us. The diagram below
explains the advantages which the 3-in- one account offers.
-
Integrates your banking, broking and de-mat accounts
-
Enables you to trade in equities, invest in mutual funds, govt. bonds,corporate
FD , buy insurance and borrow loans on the same platform
-
Relieves from hassles of filling forms and writing cheques
For the short-term surplus that you have we recommend you to look at following options
as per your liquidity and return expectations.

For the long term reserves we recommend you to look at following options as per
your risk-return expectations.
Planning for your goals
Goals / Plans
|
Funds Required
|
Years to Goal
|
Internal Funding (₹. Lacs)
|
External Funding (₹. Lacs)
|
Capacity Expansion
|
200
|
6 months
|
20
|
180
|
Business Diversification
|
250
|
3 months
|
125
|
125
|
As per your goals, you will require external funding of Rs. 305 Lacs for these goal.
Recommendations for your goals
Considering the value of property and securities that you own you can avail a LAP
of Rs. 112.5 Lacs. You can also avail a LAS of Rs. 124 lacs (subject to eligibility).
Given below is a graph which shows the value of these assets and the amount that
can be leveraged on them.
Also, for your balance requirements which is Rs. 68.5 Lacs, you can avail a business
loan or a term loan.
You can choose from the options above as per your immediate external funding requirements.
If you have any reserves to fund your goals internally you can invest in any one/
more of the options (as given in the short-term and long-term investment options
in investments and cash management section above) based on the options that suit
your requirements and expectations.
Disclaimer
AMFI Regn. No.: ARN-0845, Corporate Agent of ICICI Prudential & ICICI Lombard,
Composite Corporate Agent License No. 2613930. Registered office of I-Sec is at
ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020,
India.
Please note that Mutual Fund Investments are subject to market risks, read the offer
document carefully before investing for full understanding and detail. Kindly read
the Risk Disclosure Documents carefully before investing in Equity Shares, Derivatives
or other instruments traded on the Stock Exchanges. Insurance is the subject matter
of solicitation. ICICI Securities Ltd. does not underwrite the risk or act as an
insurer. The information contained herein is strictly confidential and meant solely
for the selected recipient and may not be altered in any way, transmitted to, copied
or distributed, in part or in whole, to any other person or to the media or reproduced
in any form, without prior written consent of ICICI Securities Limited. The contents
herein above shall not be considered as an invitation or persuasion to trade or
invest. Nothing in this report constitutes investment, legal, accounting and tax
advice or a representation that any investment or strategy is suitable or appropriate
to your specific circumstances. Investors should make independent judgment with
regard suitability, profitability, and fitness of any product or service offered
herein above. I-Sec and affiliates accept no liabilities for any loss or damage
of any kind arising out of any actions taken in reliance thereon.
This information is not directed or intended for distribution to, or use by, any
person or entity who is a citizen or resident of or located in any locality, state,
country or other jurisdiction, where such distribution, publication, availability
or use would be contrary to law, regulation or which would subject I-Sec and affiliates
to any registration or licensing requirement within such jurisdiction.