. We all know for a fact that doing business today involves aspects such as contractual agreements, client partnerships, outsourcing agreements or vendor relationships, In such a scenario liability will have to shared and its accompanying risks can overlap. This is important especially for liability insurance policies. It is crucial to know who is covered and to what extent when a loss occurs or who is eligible for claim protection. To make these aspects clear liability policies have the terms ‘named insured’ and ‘additional insured’. Many liability insurance policyholders are not clear on these terms. In this blog we will break down these terms and the difference between them so that you as policy holder will know what to do when a claim dispute occurs. What is ‘named insured’ in a liability policy? The named insured is the additional policyholder in addition to the primary insured — the individual or business entity in whose name...
Producing a film or a television serial is a high-stakes venture and one must be equipped to handle risks associated with production. Taking an insurance policy is an important safeguard to manage the risks associated with film production. This being a project by itself , a film insurance is normally structured as a package policy offers risk protection under various sections , viz., Fire for the production equipment ( owned or hired), Personal Accident, Cast Insurance, Money, Shooting Cancellation, Loss of Profits, etc., Common sections under Film insurance are Cast PA insurance and Cast Insurance which generally creates confusion in terms of its coverage. There is a tendency to believe that both of them are similar, but they are not. It is crucial to understand the difference between the two to know what they cover and do not cover. In this blog, we will explore the these two sections and their triggers, and their benefits. Cast personal accident (PA) insurance N...