Zen Vichaar

  PED (Pre Existing Disease) in Health Insurance With many media platforms encouraging people to buy Health Insurance at a young age to maintain continuity of cover and gain wider cover, choosing the right Policy/Plan is an uphill task .Buying Health Insurance is an absorbing activity as there are a lot of terms and conditions, caps, exclusions etc. in the fine print of the policy which the buyer is unaware. One such is PED or the preexisting disease condition. What is PED? A medical illness or injury that exists before the inception of a fresh health policy , is considered a pre-existing condition. Conditions like asthma, diabetes hypertension, thyroid are examples of pre-existing health conditions. They tend to be chronic or long-term. What is a pre-existing disease according to the IRDA? Pre-Existing Disease means any condition, ailment or injury or related condition(s) for which there were signs or symptoms, and were diagnosed, and for which medical advice ,treatment

  INSURANCE FOR THE MSME SECTOR If we carefully observe the Social dynamics today there is a lot of change in the thought process of the people in the lower strata of society .90% are willing to work hard and have the drive and enthusiasm to achieve. Even with a little of formal education one can establish a Micro, Small, Medium Enterprise. One such sector is the MSME Sector which also benefits from various SOPs. The Ministry of MSME runs various schemes aimed at financial assistance, technology assistance and up gradation, infrastructure development, skill development and training, enhancing competitiveness and market assistance of MSMEs. Annual report 2022-23 provides the definition of Micro, Small and Medium enterprises and as per the     Micro, Small & Medium Enterprises Development (MSMED) Act, and 2006 the Micro, Small and Medium Enterprises (MSME) are classified as below: ·                 A micro enterprise, where the investment in plant and machinery or equipment

                       Limit of indemnity in Professional Liability policies All of us have filed our IT returns and some of us have engaged the services of a CA due to our various sources of income .One fine day we receive a notice from the Income Tax department that we have not paid our taxes correctly and default notice is served on us. This is an example of a small occurrence. In large businesses Income Tax default has greater repercussions. The CA who has filed on our behalf is liable for such financial loss as it has resulted due to negligent acts, inaccurate advice, errors or omissions. Liability means owning responsibility either implicitly or by Statute . Professional indemnity insurance  covers compensation payable for the financial consequences of neglect, error or omission by the professional or firm taking out the policy. How to decide on limit of indemnity or the liable costs.? The Limit of Indemnity is  the maximum amount the insurer will pay under a policy dur