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Unplanned injurious or damaging event which interrupts the normal progress of an activity. An accident may be seen as resulting from a failure to identify a hazard or from some inadequacy in an existing system of hazard controls. Refer “Diseaseâ€, “Incidentâ€, and “Occurrenceâ€.
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The 1988 Act requires issue of a Certificate of Insurance by the insurers as proof of Third party insurance to satisfy the requirements of Chapter XI of the Act. The Certificate of Insurance Form 51 must be in the form prescribed under the Motor Vehicles Rules framed under the Act. Certificate is to be issued by the “Authorized Insurer and Authorized Government insurance Fund” who are authorized to do general insurance business in India. Certificate of insurance includes Cover Note and Policy of Insurance includes ‘Certificate of Insurance.” Read more
The objective of the principle is to place the insured, as far as possible, in the same financial position after a loss, as that occupied by him, immediately before the loss. Read more
In insurance contracts, the legal doctrine of utmost good faith applies. The insured has the duty to disclose all material facts, which have a bearing on the insurance. A breach of this duty may make the contract void or voidable.
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As per recent reports, nearly 7.5% of India’s population is presently aged 60 years and above. Less than 1% of these would be covered under any kind of health insurance plan. Being estimated that India will soon become home to the second largest number of senior citizens in the world, these numbers show a worrying picture, despite most General insurers offering specific plans for the elderly. Read more
Always assign yourself just a little more work than you can comfortably fit into the course of a day. This practice makes one too busy to stop and lose time on non-essentials. Read more
The 1988 Act requires issue of a Certificate of Insurance by the insurers as proof of Third party insurance to satisfy the requirements of Chapter XI of the Act. Read more
Utmost good faith – In insurance contracts, the legal doctrine of utmost good faith applies. The insured has the duty to disclose all material facts, which have a bearing on the insurance. A breach of this duty may make the contract void or voidable. The duty of disclosure continues throughout the policy period. Read more
The practice of motor insurance is influenced, to a large extent, by the Motor Vehicle Act, 1939. This Act makes provision for various matters relating to the use, maintenance and operation of motor vehicles, registration of motor vehicles, construction equipment and maintenance of motor vehicles, control of traffic, etc. Chapter VII -A and Chapter VIII of the Act provide for insurance of motor vehicles against third party risks. Read more
Typically, all salespeople use one of the following types of sales presentations. Read more