Zen Vichaar

                                      Trade credit insurance Online shopping is the current and very convenient for the buyer and seller, however the seller is exposed to greater risk than the buyer, as most of the sales are purchased on credit. Realization of the credit is simpler in domestic transactions but it is not the same in business deals. Credit Insurance, more popularly known as Trade Credit Insurance is insurance of default:            What is credit insurance? Ø   An effective financial risk management tool that provides the insured with protection against failure of its customer to pay their debts Ø     Insurance of Receivables or unsecured sales Ø   A Commercial Risk Who can take this cover? Credit insurance ...

                                                                                  Home Insurance   Wealth Creation, monetizing one’s knowledge and time is the in thing today, across generations. It is also important to secure already created wealth. We have to analyze unexpected risks and make a provision to minimize the effects of a loss. Risk perception, risk management & risk transfer are significant tools in this process. Risks like natural calamities or man-made activities can be safely insured with affordable premiums. These include ·       ...

                                                   Errors & Omissions Insurance   Everyone makes mistakes. Errors, oversights occur during the course of work but such errors can be fatal or damaging to the client. Errors and omissions insurance is a form of professional liability insurance which covers negligent acts in the performance of professional services. Errors & Omissions (E&O) is the Insurance that covers the Insured in the event that a client holds the Insured responsible for a service provided, or failed to provide, that did not have expected or promised results. Who needs E&O insurance? Doctors, dentists, lawyers, architects or engineers are vulnerable to such claims. For instance, if a surgeon operates...

      Cyber liability insurance                                                                         Digital transactions have taken over our everyday life. The era of PINS, passwords, OTPs are facilitating ease of doing business in all spheres. In the process we are divulging personal and important data, which is sometimes exposed to “experts” in IT. For companies, funds, transfers and money transactions are voluminous hence a strong IT policy will secure their financial data. However, loss may occur from various quarters. Data breach can happen from: Employees: Physical theft, negligence, phishing, sending wrong data Outsiders:  Crime syndicate, hackers Vendors:  Data centers, cloud Cyber-attack : A targeted intrusion into the insured’s computer system which r...

                                HEALTH INSURANCE                             Good health is the greatest wealth for sustenance of life. Hospitalization  due to sickness and injury can be a taxing experience. Lab tests pharmacy bills, the expenses that follow are cumbersome and burdensome. To help relieve this and to remain with a sufficient level of preparedness various health insurance products are available for all age groups  Need to buy Health Insurance arises due to: Rising medical Costs Insufficient cover by employers New diseases on the rise  More lifestyle diseases What is the cover offered : Hospitalisation , pre and post hospitalization, domiciliary hospitalisation and health checkups. Sum Insured chosen may be individual or floating  depending on the...

Type of Policy Implication Regulatory Intervention Remarks / Expectations Medical Policies Coverage includes hospitalization due to COVID 19 if undertaken in private medical establishments 1.IRDAI has instructed all insurers to carry the message of coverage in their websites 2.For premium falling due between 25 th March – 14 th April , IRDAI has allowed premiums to be paid by the 21st of April 2020 by amendment of Sec 64VB of the Insurance Act. 3. Per IRDAI, insurers to condone delay in payment of renewal premium up to   30 days in all individual health policies   - Life Policies- Retail Coverage includes death due to COVID 19 1.IRDAI has instructed all insurers to carry the message of coverage in their websites 2.Additional grace period of 30 days given for renewal premiums payable in the moths of March & April 2020   ...