Insurances for Hotels & Travel Industry

All properties have the risk of loss or damage caused by fire, earthquake, cyclone, Riot and Strike, Malicious Damage etc & such property can be protected against such risks by Standard Fire and Special Perils Insurance. 14 Nos. of add-on covers like Earthquake, Terrorism, Removal of Debris, Terrorism cover etc are available.

It covers Loss or damage to the property by actual robbery, burglary etc. due to forcible and violent entry into the premises. It also pays for damage to the premises following upon such forcible entry or any attempt there at. Since there is remote possibility of entire items being stolen in one occurrence, Burglary cover can be taken on First Loss Basis to get adequate coverage at minimum premium cost.

This policy can be taken by any business who deal in large sums of money for their day to day transactions. It covers (i) Loss of money in transit by Robbery, theft or any other fortuitous cause and (ii) loss of money by burglary, housebreaking, robbery or hold up while money is retained at insured premises, in safe or strong room.

Direct pecuniary loss sustained by you as a result of any deliberate fraudulent or dishonest act of any Employee is covered by this policy. Apart from above, there are certain other liability insurances like specific event insurances, exhibitions / stalls, specialized Professional indemnity insurances , Banker’s Blanket bonds etc.

It is an annual policy that covers all kinds of accidental breakages of the plate glass fixed to display windows or show cases of commercial establishments. The policy covers the cost of making good accidental breakage of insured glass by any reason whatever, except those that are specifically excluded.

This policy cover starts from the moment of goods leave the supplier’s/manufacturer’s warehouse and remains continuously in force during ordinary course of transit until delivery at destination factory site/warehouse. After arrival of the goods at destination town, risk is covered up to 7 days and risks ceases after expiry of 7 days or delivery at destination warehouse, whichever occurs first. We suggest ITC- A Cover (popularly called All Risks cover) with SRCC Extension. In an "All Risks" policy, the individual risks/perils are not enumerated, the policy would, therefore, pay for all losses unless it has been caused by an excluded named peril.

Extensions: SRCC Extension Covers damages due to Strikes, Riots, Civil Commotion including Terrorism, Extended storage Risks at intermediate points

Safety of employees is more important to Employer. Extending benefit to the dependents of bereaved employee family enhances motivation in the Organization. This offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means. Coverage is available worldwide and round the clock irrespective of on duty or off duty. It is also ensured to extend the coverage not only in respect of road / rail accidents but also accidents like electric shock, drowning, snake bite etc.

We design the most comprehensive coverage under this policy extending:
  • Accidental Death (AD) – 100% Capital sum insured (CSI)
  • Permanent Total Disablement (PTD)
    • Loss of two eyes or two limbs or one eye &one limb 100%
    • Loss of one eye or one limb 50% of sum insured
    • Total Disablement permanently due to accidental injury (eg. broken spine) 100% sum insured
  • Permanent Partial Disablement (PPD) - Percentage of Capital sum insured ranging from 2% to 75%
  • Temporary Total Disablement (TTD)/ Weekly benefits (1% of 24 months salary)
Additional Benefits:
  • Coverage to Terrorism
  • The policy also provides additional Benefits like Children Education Benefit, Carriage of Dead Body and Funeral Expenses without additional premium.
Other Extensions:
  • Medical Expenses
  • Accidental Hospitalization Expenses
  • Emergency Medical Expenses

Health of employees is a major concern.

Coverage under this policy can be extended under Standard or Tailor made policies as detailed below:
  • Standard Group Mediclaim Policy provides restricted cover with many an exclusion and without certain extended benefits. It covers Expenses incurred by the insured for hospitalization for illness/ diseases or injury sustained. These include Hospital charges (Room, Boarding & Operation theatre) fees for surgeon, Anesthetist Nursing, specialist etc., diagnostic tests, cost of medicines, blood, oxygen etc., cost of appliances like pacemaker, artificial limbs etc.

    Exclusions under the policy: Policy excludes Pre-existing Diseases, All Diseases contracted during the first 30 days, certain specified diseases during first year/first two years and Maternity benefits.

    New born baby is covered from 91st day after birth, up on payment of premium. New Born baby is not covered during first 90 days.
  • Tailor-made Group Mediclaim policy: The Group mediclaim policy can be extended to cover below exclusions (exclusions under Standard Mediclaim Policy), on payment of additional premium
    • The coverage extends to include Pre-existing Diseases also. This is major Exclusion under normal Mediclaim policy.
    • The coverage extends to All Diseases/injuries, contracted during the first 30 days from the commencement date of policy. This is also Exclusion under normal Mediclaim policy.
    • Under normal Mediclaim policies the following diseases are not covered during first/second/third/fourth year of the policy:
      • Cataract
      • Benign Prostatic Hypertrophy
      • Hysterectomy for Menorrhagia or Fibromyoma
      • Hernia
      • Hydrocele
      • Congenital Internal diseases
      • Piles
      • Sinusitis and related disorders
      • There are a few diseases not covered during first two years/first four years which vary from Insurer to insurer.
      • The policy can be extended to cover above cited diseases also.
    • Maternity Benefits with option of deleting 9 months waiting period and coverage to new born baby from day one. Here also, a few insurers cover new born baby within sum insured of Maternity benefits and a few other insurers cover within overall family floater limit.

Group (term) Insurance Scheme is meant to provide life insurance protection to groups of people. Death due to any reason is covered (Suicide is covered from 2nd year onwards). Administration of the scheme is on group basis and cost is low. Under Group (Term) Insurance Scheme, life insurance cover is allowed to all the members of a group subject to insurability conditions without insisting upon any medicals. Scheme offers coverage to death only and there is no maturity value at the end of the term.

Group Travel - Helps to protect your employees’ world over from any accident, sickness, loss and even medical attention in an emergency (Maximum of 180 days). Offers a ‘Corporate Declaration’ policy wherein the policy is based on an annual declaration (man-days traveled) while the billing can be done on a monthly basis.

Customer has the convenience to print the policy in house instead of calling insurance company each and every time he wants to travel (web based policy generation). There is no restriction on the number of trips that an employee makes during the policy period. The maximum number of travel days for single trip under this policy can be opted at 180 days.

The policy is negotiated on the group and hence eligible group discounts will be passed on to customers.

This is a complete policy to provide seamless protection to the Insured, and covers Third Party Liabilities arising from various business exposures such as those arising from Premises, Products, and completed operations, Advertising and Personal injury and also provides supplemental payments, thus ensuring complete protection to the insured against Liability issues.

Companies who can obtain cover under CGL:

  • Indian Companies that have global operations.
  • Foreign companies who have opted for the CGL policy in other jurisdictions and would prefer the same for their Indian operations.
  • Companies who are contractually bound to carry Occurrence based liability covers.
  • Export companies who would prefer Claims handling abilities in all major jurisdictions.

Coverage extended under the policy to:

  • Bodily Injury & Property Damage Liability
  • Personal & Advertising Injury
  • Medical Expenses
  • Other add on covers suitable to the insured’s trade & business

This policy covers all sums (inclusive of defense costs) which the insured becomes legally liable to pay as damages as a consequence of:

  • accidental death/ bodily injury or disease to any third party
  • accidental damage to property belonging to a third party
arising out of any defect in the product manufactured by the insured and specifically mentioned in the policy after such product has left the insured's premises.

The policy offers the benefit of retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of policy, also become payable. The policy can be extended to cover liability arising out of judgments or settlements made in countries which operate under the laws of U.S.A or Canada (which is an exclusion under the policy) by opting for the North American Jurisdiction.

Clause: The policy can also be extended to cover Limited Vendors Liability for named or unnamed vendors. Limited vendors’ liability means liability arising out of the sale and distribution of named insured products by vendors with original warranties and instructions of use of the product specified by the manufacturers.

The Directors & Officers Liability insurance policy operates under two sections.

  • Section A (Non-indemnifiable loss): This section shall pay the loss of each insured for a wrongful act in the insured’s capacity as a director, officer or employee of the company to the extent that the company has not indemnified the insured.
  • Section B (Indemnifiable loss): This section shall pay the loss of the company for a wrongful act in the insured’s capacity as a director, officer or employee of the company but only when and to the extent that the company has indemnified the insured for the loss.

The cover applies to former, present and future members of the Board of Directors and the Management comprising officers and employees in a managerial or supervisory capacity. The policy normally covers the Parent company and all subsidiaries of the Parent Company as mentioned in the Last Annual Audited accounts submitted with the Proposal form. Should it be required to cover the Directors of newly acquired companies (through mergers, acquisitions, take-over) or shadow Directors the same could be noted on the policy. The policy is designed to operate on an unnamed basis covering all directors / officers and employees of the Policyholder.

Key Man Insurance is a pure term life insurance plan taken by a Company on the life of a KEY Employee whose services have significant effect on the profitability of the company and whose premature death will adversely affect its profitability, stability and progress of the Company. There can be even more than one Key man in a company.