Commercial Insurance

The purpose of a commercial insurance is to keep the business up and running by protecting it from potential losses from accidents. Commercial insurances are classified into 3 broad headers: Liability, Marine and Property insurance.

To answer the question - How to choose commercial insurance that suits your business? Choosing the right commercial insurance can be a solution to most of your business’ issues and this requires proper evaluation based on the industry of operation.

• Nature of business: Every business has its own set of operations and risks. This is the reason why a pizzeria will have a different commercial line insurance compared to a truck manufacturing company. Hence, different commercial insurances.
• Place of business: Warehouses, factories and an IT office have different risk exposures. So, it’s important to have commercial insurance plans that provide appropriate coverage.
• Operational risks: Operations in a business give rise to contingencies. Labor unrests, breakdowns and other operational risks also need to be covered. A commercial insurance liability will give you protection against these.
• Employee benefits: Running a business cannot be possible without its employees. It is important to provide adequate insurance cover for your employees against the many odds that may arise during a day-to-day operation.

We have a vast range of commercial insurance policies to back your business against all the odds.

The types of commercial insurance policies available are:

Liability Insurance

• Carrier legal liability
• Commercial Crime
• Commercial General Liability
• Cyber Insurance
• Directors & Officers Liability
• Errors & Omissions
• Product Liability
• Title Insurance
• Trade Credit Insurance

Marine Insurance

• Export & Import Insurance
• Cargo Insurance
• Marine Hull Insurance
• Multimodal Transport Operator
• Transit Insurance Online

Property Insurance

• Art Insurance
• Contractors All Risk Insurance Policy
• Engineering All Risk
• Factory & Warehouse Insurance
• Motor Fleet Insurance
• Office Insurance
• Property & Equipment Insurance for Clinics, Labs & Hospitals

• Protection from litigation costs - If a lawsuit is filed against you, the costs can be prohibitive. Even before the case is decided you could be out of business. Good liability insurances pay defense costs immediately even before the courts pass judgment. In some cases, the insurer will recommend lawyers and even take on the responsibility of defending you.
• Protection from theft - Cover yourself for the cost of goods and equipment that have been stolen from your factory or warehouse. Also cover the shipments which are being transported by any means of transport, from damage due to theft.
• Protection from natural disaster - Fires, floods, hurricanes and tornadoes have been the end of many businesses. By taking commercial insurance, you can protect your assets and inventory if they are damaged in a natural disaster. The insurance is highly customizable and can be extended to include terrorism risks. Loss of profit because of these perils can also be covered.
• Protection from personal injury and health issues – Commercial insurances can protect you and safeguard your finances if any damage is caused to a third party. They also reduce risk of liabilities.
• Protection from transit risks - Various types of transit insurances under commercial insurance prove to be a good source of minimizing financial losses incurred due to risks involved in transition of goods via commercial vehicles.

• Competitive pricing - Commercial Insurance, when structured properly, is available at competitive rates. The best insurer for each risk can be different and you need to think through whether to consolidate insurance purchase or buy the best-in-class for each risk.
• Better claim settlement - Commercial insurance when structured properly has few restrictions and claim settlement is relatively smooth. The documentation requirements and coverages are well understood and ambiguity is minimal. Any issues or delays can be escalated to us using our mobile app or contact numbers.

Each type of commercial insurance would have its own set of warranties and exclusions. For example, most liability products exclude known issues, prior acts, fraud and contractual guarantees. Similarly, property insurances would exclude gradual losses and willful negligence.