| Householders' FAQs
What is the Householders' package policy about ?
The Householders' package policy is a policy which offers covers that are suitable for a household. Instead of taking different policies the client can opt for multiple sections or covers of his choice under one policy.
How many sections are there under the Householders' package policy ?
There are ten sections under the Householders' package policy:
Are all the sections compulsory under the Householders' package policy ?
Only section I B (fire) for contents is compulsory. In addition, two more sections need to be covered under the Householders' package policy.
Is there any discount available under the Householders' package policy ?
If a client selects more than four sections, a discount of 15 percent is available. If he selects more than six sections, a discount of 20 percent is available on the non-tariff sections.
What are the tariff and non-tariff sections under the Householders' Package policy ?
Under the Householders' Package policy - Fire, public liability, workmen's compensation are tariff sections while the rest are non-tariff sections.
Is there any limit of amount of insurance cover which can be taken under the Householders' Package policy ?
There is NO limit on the amount of cover that can be availed of under the Householders' Package policy.
Under the Householders' Package policy, can a single amount be taken for all the contents of the household ?
A single amount can be taken for all the contents only if the value of any single item exceeds 5 percent of the amount of insurance and the same is to be declared separately otherwise the value of that item will be considered of a maximum of 5 percent.
Under the Householders' Package policy, can jewellery be listed with the rest of the contents of the household ?
Under the Householders' Package policy, jewellery should be listed individually along with the values.
Can jewellery lying in bank vaults be covered under the Householders' Package policy ?
Under the Householders' Package policy, the client has the option to cover such jewellery also.
What is term period for the Householders' Package policy ?
The Householders' Package policy can be issued for a maximum period of one year.Travel Insurance FAQs
What is "Baggage Insurance" ?
Who is entitled to an Executive Travel Policy ?
Any Indian National over the age of 18 years residing in India is entitled for Executive Travel Policy against risks during their travel overseas and within India on the following basis:
What is the maximum indemnity available under the Executive Travel Policy ?
In case of personal accident, the maximum limit of indemnity is Rs.30 lakhs. In case of loss of checked baggage outside India, the maximum limit of indemnity is Rs.75,000/- and within India it is Rs.40,000/-
Who can opt for 'Suhana Safar Policy'?
What is the extent of liability under Suhana Safar Policy ?
What is the period of insurance under Suhana Safar Policy ?
The coverage available under this package is for a single round trip to all the declared places (including places enroute) up to the scheduled date of return. The policy cover is available for trips up to 60 days only. However the policy can be extended to cover further 60 days on payment of additional premium.
What is the difference between the Suhana Safar Policy, the
Executive Travel Policy and Overseas Mediclaim Policy ?
The Householder's Insurance policy is designed to cover risks and contingencies faced by householders under a single package policy. It provides protection for property and interests as well as legal liability of the insured and his/her family members who permanently reside with the insured.
NO. Electronic items, computers and their peripherals, dish antennae are not covered under the Householder's Insurance policy. A separate Electronic Equipment policy must be implemented to provide cover for them.
The premium rate for the Householder's Insurance policy is calculated at 0.65 per thousand rupees value of the Capital Sum Insured. The Capital Sum Insured is derived at the time of commencement of the policy from the Market Value of the property.
Under Section 1 (B) the Householder's Insurance policy, any loss
or damage suffered to the following is treated as an exception and
cannot be claimed.
Under Section 4 of the Householder's Insurance policy, the exceptions for cover of Plate Glass are
Under Section 4 of the Householder's Insurance policy, the Premium Payable for Plate Glass is calculated at 10 percent of the Actual Value of the Plate Glass.
Under Section 6 of the Householder's Insurance policy, the Premium Payable for Television sets and VCRs is calculated at 10.05 percent of the Market value.
Under Section 6 of the Householder's Insurance policy, Television sets and VCRs are insured against the loss and/or damage that might arise from
The admissible legal liability for damage to the insured's own surrounding property due to collapse of antenna is limited to Rs.25000/-
Under Section 7 of the Householder's Insurance policy, the Premium Payable for Bicycles is calculated at 20.05 percent of the Actual cost.
Under Section 7 of the Householder's Insurance policy, the exception for cover of Bicycles arises if and when the bicycle is not securely locked when left attended and subjected to loss through theft or damage.
Under Section 8 of the Householder's Insurance policy, the Premium Payable for Accompanied Baggage is calculated at 7.5 percent of the Actual cost.
Under Section 8 of the Householder's Insurance policy, the exception for cover of Accompanied Baggage arises if and when the loss arises within the Municipal limits of area where the insured resides permanently.
The other exceptions are
Under Section 8 of the Householder's Insurance policy, Accompanied Baggage is insured against the loss and/or damage that might arise during an accident or misfortune whilst the Insured is traveling in India.
Contrary to the profess ional indemnity insurance for Medical Establishments, no deduction towards Excess under the Policy is made from claims arising out of errors, omissions or negligence of the doctors and medical practitioners.
The Jurisdiction applicable in Professional Indemnity policies will be within Indian Courts only.
What is the period of cover under Professional Indemnity
The Insured should immediately notify the insurance company in writing and forward copies of writs, summons or notices along with all other relevant documents to them. No admission, offer, promise or payment should be made by the Insured without the written consent of the insurance company.
The insurance company reserves the right to take over and conduct legal proceedings in the name of the Insured. Normally they become joint respondents to the case along with the insured.
All amounts expended by the company in such proceedings constitute defence costs and form part of the claim payable under the policy subject to the limit of indemnity mentioned as Sum Insured in the policy.
However, in cases where the insurance company feels that the insured has breached any of the conditions of the policy, it may relinquish the defence of the insured. In such cases, the Insured has to defend the case on his own, while the insurance company produces its own defenses.
If the Court passes an Award against the insured and it is established that there was no breach of the terms and conditions of the policy, the insurance company not only satisfies the Court Award but also pays the expenses of the insured, reasonably incurred as legal costs and fees, subject to the limit of Sum Insured in the policy.
Yes, the insurance company is liable, in terms of the Extended Claim Reporting Clause attached to the Policy. According to this Clause, the insurance company will allow a time limit not exceeding 90 days from the expiry of the policy, for reporting of claims by the insured, provided the claim has arisen out of an accident during the currency of the policy.
A doctor takes a policy for Rs.1 lakh for the period 1.1.2000 to 31.12.2000. He does not renew the policy for a further period. Arising out of a Caesarian operation conducted on 1.6.2000 on a lady, a claim arises and is notified to the doctor on 31.10.2000.
The doctor intimates the claim to the insurance company, for reasons beyond his control, on 15.1.2000, i.e., after the policy has expired and no insurance is in force.
Professional Indemnity Insurance claims against doctors and medical establishments are generally arising out of allegations of improper diagnosis, improper tests, lack of informed consent, improper administration of anesthetics and drugs and surgical errors.
Improper diagnosis arises if a physician fails to bring to a diagnosis the proper degree of skill or care. However, a mistake in diagnosis caused by an error in judgement is not actionable if the physician has used the proper degree of skill and care.
In other words, liability is not imposed on a physician for making an error in judgement, except when the error results form a failure to comply with a recognised standard of medical care that is exercised by prudent physicians in the same specialty under similar circumstances.
Physicians have a duty to employ the proper tests and evaluation to determine the condition of a patient about to undergo a proposed treatment or operation.
Whether the failure to make such tests or examinations constitutes a lack of due and reasonable care and skill depends on whether the standards of skill and care require such a test or an examination in a particular case.
Lack of informed consent arises from the failure to disclose in advance the known, significant risks of a particular procedure or treatment. Surgeons normally take an undertaking from a patient of a Caesarian operation, indicating the risks thereof.
However, this does not make him immune to liabilities arising out of errors and negligence conducted during the operation. Further, physicians and surgeons are not expected to disclose every conceivable risk, because excessive disclosure might do patients more harm than good.
In most cases involving the question of negligence, physicians have been held liable for injuries to patients resulting from the administration of the wrong drug or medicine.
Related causes of action include the failure to properly sterilise instruments, drugs or operative fields; breaking hypodermic needles; the use of harmful drugs instead of the proper ones; the improper use of spinal injections; and the death or injury of a patient under excessive or improper anaesthesia.
Surgical errors arise when a surgeon who performs an operation and has the duty to exercise the reasonable care, skill and diligence that prudent surgeons in similar situations usually exercise, fails to do so.
For example failure to remove instruments, surgical sponges, or other foreign substances from the patient%u2019s body before closing the incision, has been held to be negligence on the part of the operating surgeon.
Other common allegations might be based on the following:
According to the policy conditions, the insured should immediately notify any claim or event that may lead to a claim under the policy forthwith.
However, the time limit prescribed is governed by the Indian Limitation Act in force from time to time.
Should the Insured notify the Company during the policy period in accordance with General Condition No. 10.1 of any specific event or circumstance which the Company accepts may give rise to a claim or claims which form the subject of indemnity by this policy, then the acceptance of such notification means that the Company will deal with such claim or claims as if they had first been made against the insured during the policy period.
The extension under the Clause will be subject to the maximum limit laid down under the Indian Limitation Act in force from time to time.
Where a series of claims arises out of the same cause, they are added together and treated as one claim.
However, there is no coverage for claims arising from one specific cause but are made later than 3 years after the first claim of the series.
For the purpose of this policy, where a series of losses and/or bodily injuries and/or deaths are attributable directly or indirectly to the same cause or error or omission relating to discharge of professional services, all such losses and/or bodily injuries and/or death claims shall be added together and all such losses and/or bodily injuries and/or death shall be treated as one claim and such claim shall be deemed to have been made at the point in time when the first of the claims was made in writing.
There shall, however, be no coverage for claims made arising from one specific cause which are made later than 3 years after the first claim of the series.
The Doctor's Protection Shield policy covers building, office contents, tenant's liability, money, fixed glass and sanitary-ware, fidelity guarantee, electronic equipment, cost of reinstatement of data and programme, portable computer, additional expenses, personal accident, breakdown of office appliances, baggage, liability, professional liability, accident on duty cover and Mediclaim.
When a diagnostic centre is classified as a medical establishment as per the parameters laid down in the market agreement, the same shall be rated as medical establishment under the Doctor%u2019s Protection Shield policy.
The Medical Establishment Professional Negligence policy is designed for hospitals, nursing homes, diagnostic centres, pathological laboratories, etc to cover any act committed by the professional or qualified assistants named in the policy engaged by the medical establishment which gives rise to third party legal liability.
Short period policies are not permitted under the Medical Establishment Professional Negligence policy. In case the policyholder desires cancellation, short period scale rates will be applicable.
Jurisdiction applicable under the Professional Indemnity policy will be within Indian Courts.
The special benefits under the Professional Indemnity policy for doctors and medical practitioners are
The Professional Indemnity Insurance Policy is available for all doctors, medical establishments, contractors, engineers, architects, interior decorators, chartered accountants, financial accountants, management consultants, lawyers, advocates, solicitors and counsel.
Under Director's and Officer's Liability Insurance, all directors and officers can avail of cover against legal liability to the third party for a Wrongful Act which may arise due to actual or alleged breach of duty, breach of trust, negligent, error, omission, misstatement, misleading statement, breach of warranty of authority.
Director's and Officer's Liability Insurance can be used to cover ex-directors and can also be extended to cover non-executive Directors, spouses of Directors and Officers, their estates, heirs, legal representatives in case of being deceased
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