Effective risk management is the key to a successful business. ICICI Lombard offers comprehensive business insurance policies for multi-type and multi-size businesses.
The standard business insurance offered by ICICI Lombard include:
a) Fire insurance
A standard fire insurance policy provides coverage against financial loss or property damage caused due to fire or other covered perils.
What does the policy cover?
- Fire
- Lightning
- Aircraft damage
- Explosion and implosion
- Riot, strike, terrorism, and malicious damage
- Storm, cyclone, typhoon, hurricane, flood, and inundation
- Subsidence, landslide and rock slide
- Impact damage
- Bush fire
- Missile testing operations
- Bursting, overflowing of water tanks, pipes, and apparatus
- Leakage from automatic sprinkler installations
b) Marine insurance
As a business person, your goods are a source of revenue for you. Insuring your goods against any unwanted event, while they are being transported, means that you are securing the future of your business. ICICI Lombard provides a comprehensive and flexible marine insurance policy to fulfill your requirements.
What is included?
All modes of transportation, namely water, rail, road, and air, are covered under this policy. Goods being transported via courier services are also insured. Your in-transit goods will be protected against vehicle collision, derailment, overturning, or accidents happening anywhere from the source of destination. You can also extend the coverage to loss or damage of goods due to theft, riots, terrorism, strike and other hostile acts by human by opting for comprehensive coverage as per your need.
Types of marine insurance policies offered by ICICI Lombard
- Inland policies
- Export policies
- Import policies
- Turnover policies
The premium for a marine insurance policy will depend on the following factors:
- Type of cover
- Type of vessel, trading limits, technical aspects of machinery and trading limits
- Management and ownership considerations
- Past claim experience
- Size of the deductible
c) Liability Insurance (Industrial risk policy)
Scope of cover
Legal liability for warehousing, manufacturing, construction industries towards damages to the third party with respect to:
- Bodily injury or disease
- Accidental death
- Legal costs and expenses arising with the prior consent of the insurer and within the limit of policy specifications
- Loss or damage to property
d) Group health insurance
ICICI Lombard offers group health insurance policy to ensure that all your employees as well as their families are insured against any unforeseen medical expenses. The plan gives you the flexibility to choose coverage as per your needs.
Scope of coverage
- The policy covers medical expenses incurred during hospitalisation of any member for a minimum period of 24 hours.
- Thirty days pre-hospitalisation and sixty days post-hospitalisation expenses are covered.
e) Group personal accident policy
The group personal accident policy from ICICI Lombard compensates the policyholder in case of accidental death, loss of eyes and limbs, permanent total disability, and permanent partial disability.
f) Workmen compensation
ICICI Lombard’s workmen compensation policy offers monetary compensation to the employee or nominee in case of medical emergencies during their employment period.
