Insurance for Business

• Group Health Insurance: The most common and prevalent Group Insurance covers the medical and health-related expenditure cost for a group with standardized features and a fixed sum assurance for group members (In some cases the sum assured varies based on the particular grade of employees, other features being equal).
• Group Life Insurance: Another popular group insurance, usually provided by the employer to its employees as a life cover under which a fixed amount is paid in case the employee dies while discharging his/her duties. The premium is either paid by the employer or collected from employees and paid collectively by the employer to the insurance company.
• Group Accident Cover: This type of group Insurance scheme is usually provided to cover any injury and loss of life on account of an accident during employment. Normally this type of group insurance premium is payable by the employer.
• Group Keyman Insurance Cover: This type of group insurance is a late entrant in the group insurance types; however, its importance is ever increasing. Normally the key officials in certain industries such as Banking, Medical profession, legal profession take professional decisions in their day to day business affairs which can have serious financial implications if things went awry. As such this type of group insurance is taken by the employer to limit the financial liability of such key men while they discharge their professional responsibilities independently without the fear of financial failure.

• Bodily injury to someone else
• Property damage to another person’s belongings
• Personal injury, like libel or slander

Commercial property insurance helps protect your owned or rented building and equipment that you use to run your business.

If you can’t run your business because of covered property damage, business income insurance can help replace your lost income. So, you can use this coverage to help pay for ongoing expenses, like rent, utility bills or payroll. This type of insurance is also known as business interruption insurance.

Professional liability insurance helps cover lawsuits claiming that you made a mistake in the services you provided. This type of insurance is also known as errors and omissions (E&O) insurance.

• Pay for their medical bills
• Replace most of their lost wages if they miss work to recover
• Cover funeral costs if they lose their life due to a work-related injury or illness
• Pay for ongoing care, like physical therapy

• Notify impacted individuals
• Offer identity theft monitoring services
• Create a public relations campaign

Commercial umbrella insurance extends the coverage limits for some of your liability policies. So, if a claim exceeds the limits on your policy, your umbrella insurance can help cover the difference.

Commercial auto insurance helps protect you and your employees on the road if you drive company-owned vehicles for business. It can help cover property damage and bodily injury claims from an accident your business causes. This is important because a personal car insurance policy won’t help cover third-party claims in an accident you cause with a business-owned vehicle.