Reinsurance

Liability Insurance

Liability Insurance is configured to protect organisations & individuals from risk of liabilities imposed by third-party in form of lawsuits, investigative actions and similar claims. It plays a
significant role by way of paying defence costs and damages awarded by court of law against such organisations.

Liability Insurance

Liability Insurance is configured to protect organisations & individuals from risk of liabilities imposed by third-party in form of lawsuits, investigative actions and similar claims. It plays a significant role by way of paying defence costs and damages awarded by court of law against such organisations.  

 

Causality Line:

Carrier Legal Liability Insurance

There is flexibility in surrendering the policies

Cover your liabilities

Ensuring your dependents are financially protected even if you are not around.

Fund For Responsibilities

Be it a child’s education, loan, building capital for your business or planning retirement life insurance has solutions for each need.

Tax Saving

Tax saving is an additional benefit when it comes to Life Insurance. 80C on premiums paid and 10 (10D) on maturity/survival/death benefit.

Categories

Casualty Line

We shall deliver excellent service and superior products to our customers, remaining focused on their needs

Financial Line

We shall deliver excellent service and superior products to our customers, remaining focused on their needs

Types of Insurance

1.Casualty Line

Carrier Legal Liability Insurance shields transportation companies from legal liabilities to cargo owners during transportation. It covers expenses for damage, loss, or destruction of goods during transit, including loading and unloading. The policy applies when the carrier or its employees are negligent or commit criminal acts, or when the carrier’s vehicle is damaged due to accidents or fires. This insurance safeguards carriers, allowing them to compensate cargo owners for any harm to goods while in their custody.

Commercial General Liability (CGL) insurance shields businesses from a range of liabilities and risks associated with their operations. It covers claims for bodily injury, property damage, personal injury (including libel, slander, and invasion of privacy), advertising injury (like copyright or trademark infringement), and product or completed operations liability. This insurance is essential for protecting businesses from potential financial losses due to lawsuits and claims. 

Employee Compensation Insurance (formerly Workers Compensation Insurance) provides compensation to employees or their families in the event of workplace injuries or accidents, including certain occupational diseases. It covers medical expenses, permanent or temporary disablement, and death benefits. This policy also addresses legal liabilities of employers under relevant legislation. It is mandatory for all types of businesses and benefits contractors and subcontractors as well. Available to individuals and all types of business entities, it is essential for ensuring financial protection for employees and compliance with legal obligations. 

Environmental Impairment Liability Insurance covers costs for cleaning up pollution from an organization’s site and injuries or damages caused by pollution. It includes remediation costs, bodily injury, property damage, and business interruption due to pollution. This insurance fills gaps left by other policies and can cover pre-existing conditions, fines, and penalties related to pollution. 

Port Operator Insurance provides coverage for accidents and liabilities associated with port facilities, including electrical failures, floods, fires, and mishaps involving cargo and third parties. It covers legal responsibilities to third parties resulting from accidents during port operations, including personal injury and property damage. The insurance also extends to subcontractors’ operations and includes defense costs and disposal expenses for customers’ cargo or property after an accident. 

Product Liability Insurance protects businesses from financial losses and legal liabilities arising from injuries or damages caused by their products. It covers expenses for bodily injury, property damage claims, and legal defense costs. This insurance shields against defects in manufacturing or design, failure to warn, and inadequate instructions. It provides essential financial and legal support, mitigating the impact of product liability claims on businesses.

Product Liability Insurance protects businesses from financial losses and legal liabilities arising from injuries or damages caused by their products. It covers expenses for bodily injury, property damage claims, and legal defense costs. This insurance shields against defects in manufacturing or design, failure to warn, and inadequate instructions. It provides essential financial and legal support, mitigating the impact of product liability claims on businesses.

  • Product Guarantee – The expenses of replacing, reworking, or reclaiming items that have failed to perform their intended function due to poor design, production, installation, or other factors, following unqualified acceptance by a customer.  
  • Financial Loss – The costs of compensating third-party financial losses as a direct result of a product failing to perform intended function for which it was manufactured, sold and distributed.  
  • Product Recall – Your costs in recalling products whose continued use or consumption may subject the Insured to legal liability, either because the products failed to perform their intended function, or because the use or consumption could result in bodily injury and/or property damage. 

If Your Company is into handling of hazardous goods, it is compulsory to be insured under the Public Liability Act Insurance. It provides immediate relief/ Compensation to Third Party Persons (Individual or Legal Entity) affected by accident occurring while handling any hazardous goods.  

This Act makes it mandatory for Owners involved in handling hazardous goods to take insurance policies for an amount not less than the amount of paid-up capital or INR 5 Cr whichever is lower for AOA limit and 3 times of AOA limit for AOY limit.  

This policy covers legal liabilities for accidental death, bodily injury, or property damage to third parties arising from business-related accidents. Public Liability Industrial Risks covers manufacturing, warehousing, and construction industries, while Non-Industrial Risks Insurance covers offices, schools, housing societies, hotels, and other non-industrial establishments. It includes coverage for accidental death, bodily injury, disease, and property damage. 

Warehouse Operators Insurance protects against risks like fire, theft, and damage to third-party cargo stored in warehouses. It covers legal liability for loss or damage to customer cargo due to negligence in handling or storage. Additionally, it provides coverage for general liability (Public Liability). The policy includes indemnity for legal defense costs, damages, mitigation expenses, disposal, quarantine, disinfection costs, investigation costs, and earned warehouse charges. 

 

2.Financial Line

Professional Liability insurance, also called Errors and Omissions (E&O) insurance, safeguards professionals and consultants from potential claims and lawsuits related to their services or advice. It covers infringements of intellectual property rights, fraud, loss of documents, defamation, and breaches of confidentiality. The policy pays for legal costs, defense, investigation, and compensation for covered claims. This insurance can be tailored to various industries like manufacturing, construction, technology, healthcare, and others, ensuring protection for specific professional needs. 

Directors and officers face significant personal liability while fulfilling their managerial duties in a company. This policy safeguards them against potential lawsuits brought by shareholders, customers, government, competitors, or others for unintended wrongful acts committed in their managerial authority. It covers legal costs, defense, investigation, and compensation for civil or criminal actions against directors/officers. 

Public Offering of Securities Insurance, also known as Securities Liability Insurance, shields companies and directors during public offerings from potential lawsuits arising from misstatements, omissions, or securities law violations in offering documents. It’s commonly obtained for IPOs/FPOs and covers legal costs, defense, investigation, and compensation for covered claims. 

Clinical Trials Liability insurance provides specialized coverage to organizations conducting clinical trials, such as pharmaceutical companies and research institutions. It protects against potential risks and liabilities, including claims arising from participant injury or illness during trials. Coverage includes protection for bodily injury/death, professional liability for trial design errors, and product liability for investigational product claims. The policy pays for legal costs, defense, investigation, and compensation for covered claims. 

Commercial Crime Insurance protects businesses from financial losses caused by criminal acts committed by employees or third parties. It covers various crimes like employee dishonesty, fraud, forgery, theft, and computer fraud. The insurance safeguards against losses from theft, embezzlement, counterfeit currency, fraudulent electronic transfers, and unauthorized access to computer systems. It also provides coverage for robbery, extortion, and ransom demands. By obtaining this insurance, businesses gain financial protection against a wide range of criminal activities, helping to mitigate their impact on operations and finances.  

Cyber liability insurance shields businesses from financial losses and liabilities caused by cyber-attacks and data breaches. It covers breach response costs, legal fees, regulatory fines, and income loss due to interruptions. This insurance also addresses ransomware attacks, security failures, and intellectual property infringement claims. By obtaining cyber liability insurance, businesses gain essential financial protection against cyber threats. 

Employment Practices Liability Insurance (EPLI) is a specialized type of insurance coverage designed to protect businesses from potential claims and lawsuits related to employment practices. It provides financial protection in case an employer is sued by an employee, former employee, or job applicant alleging wrongful employment practices such as discrimination, harassment, wrongful termination, or retaliation. 

IPR Insurance safeguards individuals and businesses from losses due to intellectual property disputes. It covers legal defense costs, indemnification, and damages for patent, trademark, copyright, and trade secret infringements. This specialized coverage provides financial protection, allowing policyholders to defend their rights effectively. 

Investment Managers Liability (IML) insurance protects investment managers and their firms from financial losses and legal claims stemming from errors, omissions, or negligence during their professional duties. It covers professional liability for inaccuracies, breaches of fiduciary duty, and legal defense costs, including regulatory investigations by bodies like the SEC or FINRA. 

M&A Transaction Liability Insurance in India minimizes financial and legal risks during deals. It covers breaches of seller representations and warranties (R&W Insurance), tax liabilities (Tax Liability Insurance), post-transaction risks (Contingent Liability Insurance), and asset title defects (Title Insurance). This insurance enhances deal certainty, mitigates risks, and facilitates negotiations by providing added protection and risk allocation. 

Tax Liability Insurance provides financial protection for businesses and individuals dealing with tax disputes or reassessments. It covers costs like audit fees, legal expenses, and potential settlements. Access to tax professionals helps navigate audits or litigation. This insurance safeguards against unexpected tax expenses and ensures cash flow stability. 

1. Casualty Line

  • Product Guarantee – The expenses of replacing, reworking, or reclaiming items that have failed to perform their intended function due to poor design, production, installation, or other factors, following unqualified acceptance by a customer.  
  • Financial Loss – The costs of compensating third-party financial losses as a direct result of a product failing to perform intended function for which it was manufactured, sold and distributed.  
  • Product Recall – Your costs in recalling products whose continued use or consumption may subject the Insured to legal liability, either because the products failed to perform their intended function, or because the use or consumption could result in bodily injury and/or property damage. 

This policy covers legal liabilities for accidental death, bodily injury, or property damage to third parties arising from business-related accidents. Public Liability Industrial Risks covers manufacturing, warehousing, and construction industries, while Non-Industrial Risks Insurance covers offices, schools, housing societies, hotels, and other non-industrial establishments. It includes coverage for accidental death, bodily injury, disease, and property damage. 

Port Operator Insurance provides coverage for accidents and liabilities associated with port facilities, including electrical failures, floods, fires, and mishaps involving cargo and third parties. It covers legal responsibilities to third parties resulting from accidents during port operations, including personal injury and property damage. The insurance also extends to subcontractors’ operations and includes defense costs and disposal expenses for customers’ cargo or property after an accident. 

Warehouse Operators Insurance protects against risks like fire, theft, and damage to third-party cargo stored in warehouses. It covers legal liability for loss or damage to customer cargo due to negligence in handling or storage. Additionally, it provides coverage for general liability (Public Liability). The policy includes indemnity for legal defense costs, damages, mitigation expenses, disposal, quarantine, disinfection costs, investigation costs, and earned warehouse charges. 

 

If Your Company is into handling of hazardous goods, it is compulsory to be insured under the Public Liability Act Insurance. It provides immediate relief/ Compensation to Third Party Persons (Individual or Legal Entity) affected by accident occurring while handling any hazardous goods.  

This Act makes it mandatory for Owners involved in handling hazardous goods to take insurance policies for an amount not less than the amount of paid-up capital or INR 5 Cr whichever is lower for AOA limit and 3 times of AOA limit for AOY limit.  

Contaminated Product Insurance (CPI) protects companies from financial losses due to accidental or intentional product contamination. It covers incidents during production, preparation, or distribution that result in bodily harm or death after consumption. This insurance includes coverage for contamination, impairment, product tampering, and mislabelling, benefiting manufacturers and retailers in food and beverage sectors.

Product Liability Insurance protects businesses from financial losses and legal liabilities arising from injuries or damages caused by their products. It covers expenses for bodily injury, property damage claims, and legal defense costs. This insurance shields against defects in manufacturing or design, failure to warn, and inadequate instructions. It provides essential financial and legal support, mitigating the impact of product liability claims on businesses.

Environmental Impairment Liability Insurance covers costs for cleaning up pollution from an organization’s site and injuries or damages caused by pollution. It includes remediation costs, bodily injury, property damage, and business interruption due to pollution. This insurance fills gaps left by other policies and can cover pre-existing conditions, fines, and penalties related to pollution. 

Carrier Legal Liability Insurance shields transportation companies from legal liabilities to cargo owners during transportation. It covers expenses for damage, loss, or destruction of goods during transit, including loading and unloading. The policy applies when the carrier or its employees are negligent or commit criminal acts, or when the carrier’s vehicle is damaged due to accidents or fires. This insurance safeguards carriers, allowing them to compensate cargo owners for any harm to goods while in their custody.

Employee Compensation Insurance (formerly Workers Compensation Insurance) provides compensation to employees or their families in the event of workplace injuries or accidents, including certain occupational diseases. It covers medical expenses, permanent or temporary disablement, and death benefits. This policy also addresses legal liabilities of employers under relevant legislation. It is mandatory for all types of businesses and benefits contractors and subcontractors as well. Available to individuals and all types of business entities, it is essential for ensuring financial protection for employees and compliance with legal obligations. 

Commercial General Liability (CGL) insurance shields businesses from a range of liabilities and risks associated with their operations. It covers claims for bodily injury, property damage, personal injury (including libel, slander, and invasion of privacy), advertising injury (like copyright or trademark infringement), and product or completed operations liability. This insurance is essential for protecting businesses from potential financial losses due to lawsuits and claims. 

2. Financial Line

Public Offering of Securities Insurance, also known as Securities Liability Insurance, shields companies and directors during public offerings from potential lawsuits arising from misstatements, omissions, or securities law violations in offering documents. It’s commonly obtained for IPOs/FPOs and covers legal costs, defense, investigation, and compensation for covered claims. 

M&A Transaction Liability Insurance in India minimizes financial and legal risks during deals. It covers breaches of seller representations and warranties (R&W Insurance), tax liabilities (Tax Liability Insurance), post-transaction risks (Contingent Liability Insurance), and asset title defects (Title Insurance). This insurance enhances deal certainty, mitigates risks, and facilitates negotiations by providing added protection and risk allocation. 

Professional Liability insurance, also called Errors and Omissions (E&O) insurance, safeguards professionals and consultants from potential claims and lawsuits related to their services or advice. It covers infringements of intellectual property rights, fraud, loss of documents, defamation, and breaches of confidentiality. The policy pays for legal costs, defense, investigation, and compensation for covered claims. This insurance can be tailored to various industries like manufacturing, construction, technology, healthcare, and others, ensuring protection for specific professional needs. 

Tax Liability Insurance provides financial protection for businesses and individuals dealing with tax disputes or reassessments. It covers costs like audit fees, legal expenses, and potential settlements. Access to tax professionals helps navigate audits or litigation. This insurance safeguards against unexpected tax expenses and ensures cash flow stability.

Clinical Trials Liability insurance provides specialized coverage to organizations conducting clinical trials, such as pharmaceutical companies and research institutions. It protects against potential risks and liabilities, including claims arising from participant injury or illness during trials. Coverage includes protection for bodily injury/death, professional liability for trial design errors, and product liability for investigational product claims. The policy pays for legal costs, defense, investigation, and compensation for covered claims. 

Investment Managers Liability (IML) insurance protects investment managers and their firms from financial losses and legal claims stemming from errors, omissions, or negligence during their professional duties. It covers professional liability for inaccuracies, breaches of fiduciary duty, and legal defense costs, including regulatory investigations by bodies like the SEC or FINRA. 

Cyber liability insurance shields businesses from financial losses and liabilities caused by cyber-attacks and data breaches. It covers breach response costs, legal fees, regulatory fines, and income loss due to interruptions. This insurance also addresses ransomware attacks, security failures, and intellectual property infringement claims. By obtaining cyber liability insurance, businesses gain essential financial protection against cyber threats. 

Commercial Crime Insurance protects businesses from financial losses caused by criminal acts committed by employees or third parties. It covers various crimes like employee dishonesty, fraud, forgery, theft, and computer fraud. The insurance safeguards against losses from theft, embezzlement, counterfeit currency, fraudulent electronic transfers, and unauthorized access to computer systems. It also provides coverage for robbery, extortion, and ransom demands. By obtaining this insurance, businesses gain financial protection against a wide range of criminal activities, helping to mitigate their impact on operations and finances.  

Directors and officers face significant personal liability while fulfilling their managerial duties in a company. This policy safeguards them against potential lawsuits brought by shareholders, customers, government, competitors, or others for unintended wrongful acts committed in their managerial authority. It covers legal costs, defense, investigation, and compensation for civil or criminal actions against directors/officers. 

IPR Insurance safeguards individuals and businesses from losses due to intellectual property disputes. It covers legal defense costs, indemnification, and damages for patent, trademark, copyright, and trade secret infringements. This specialized coverage provides financial protection, allowing policyholders to defend their rights effectively. 

Employment Practices Liability Insurance (EPLI) is a specialized type of insurance coverage designed to protect businesses from potential claims and lawsuits related to employment practices. It provides financial protection in case an employer is sued by an employee, former employee, or job applicant alleging wrongful employment practices such as discrimination, harassment, wrongful termination, or retaliation. 

Type of Insurance

Tax Liability Insurance provides financial protection for businesses and individuals dealing with tax disputes or reassessments. It covers costs like audit fees, legal expenses, and potential settlements. Access to tax professionals helps navigate audits or litigation. This insurance safeguards against unexpected tax expenses and ensures cash flow stability.

Cyber liability insurance shields businesses from financial losses and liabilities caused by cyber-attacks and data breaches. It covers breach response costs, legal fees, regulatory fines, and income loss due to interruptions. This insurance also addresses ransomware attacks, security failures, and intellectual property infringement claims. By obtaining cyber liability insurance, businesses gain essential financial protection against cyber threats. 

Commercial Crime Insurance protects businesses from financial losses caused by criminal acts committed by employees or third parties. It covers various crimes like employee dishonesty, fraud, forgery, theft, and computer fraud. The insurance safeguards against losses from theft, embezzlement, counterfeit currency, fraudulent electronic transfers, and unauthorized access to computer systems. It also provides coverage for robbery, extortion, and ransom demands. By obtaining this insurance, businesses gain financial protection against a wide range of criminal activities, helping to mitigate their impact on operations and finances.  

Clinical Trials Liability insurance provides specialized coverage to organizations conducting clinical trials, such as pharmaceutical companies and research institutions. It protects against potential risks and liabilities, including claims arising from participant injury or illness during trials. Coverage includes protection for bodily injury/death, professional liability for trial design errors, and product liability for investigational product claims. The policy pays for legal costs, defense, investigation, and compensation for covered claims. 

IPR Insurance safeguards individuals and businesses from losses due to intellectual property disputes. It covers legal defense costs, indemnification, and damages for patent, trademark, copyright, and trade secret infringements. This specialized coverage provides financial protection, allowing policyholders to defend their rights effectively. 

Investment Managers Liability (IML) insurance protects investment managers and their firms from financial losses and legal claims stemming from errors, omissions, or negligence during their professional duties. It covers professional liability for inaccuracies, breaches of fiduciary duty, and legal defense costs, including regulatory investigations by bodies like the SEC or FINRA. 

Directors and officers face significant personal liability while fulfilling their managerial duties in a company. This policy safeguards them against potential lawsuits brought by shareholders, customers, government, competitors, or others for unintended wrongful acts committed in their managerial authority. It covers legal costs, defense, investigation, and compensation for civil or criminal actions against directors/officers. 

Employment Practices Liability Insurance (EPLI) is a specialized type of insurance coverage designed to protect businesses from potential claims and lawsuits related to employment practices. It provides financial protection in case an employer is sued by an employee, former employee, or job applicant alleging wrongful employment practices such as discrimination, harassment, wrongful termination, or retaliation. 

Public Offering of Securities Insurance, also known as Securities Liability Insurance, shields companies and directors during public offerings from potential lawsuits arising from misstatements, omissions, or securities law violations in offering documents. It’s commonly obtained for IPOs/FPOs and covers legal costs, defense, investigation, and compensation for covered claims. 

M&A Transaction Liability Insurance in India minimizes financial and legal risks during deals. It covers breaches of seller representations and warranties (R&W Insurance), tax liabilities (Tax Liability Insurance), post-transaction risks (Contingent Liability Insurance), and asset title defects (Title Insurance). This insurance enhances deal certainty, mitigates risks, and facilitates negotiations by providing added protection and risk allocation. 

Professional Liability insurance, also called Errors and Omissions (E&O) insurance, safeguards professionals and consultants from potential claims and lawsuits related to their services or advice. It covers infringements of intellectual property rights, fraud, loss of documents, defamation, and breaches of confidentiality. The policy pays for legal costs, defense, investigation, and compensation for covered claims. This insurance can be tailored to various industries like manufacturing, construction, technology, healthcare, and others, ensuring protection for specific professional needs. 

Causality Line

  • Carrier Legal Liability Insurance

Carrier Legal Liability Insurance shields transportation companies from legal liabilities to cargo owners during transportation. It covers expenses for damage, loss, or destruction of goods during transit, including loading and unloading. The policy applies when the carrier or its employees are negligent or commit criminal acts, or when the carrier’s vehicle is damaged due to accidents or fires. This insurance safeguards carriers, allowing them to compensate cargo owners for any harm to goods while in their custody. 

  • Senior Citizen Health Insurance

It offers health coverage to people who are above 65 years of age. Generally, the premium amount of a senior citizen health plan is slightly higher than that of an individual and family health insurance plan. A senior citizen health insurance covers the cost of medicines, doctor’s consultation, pre and post-hospitalization etc.

Benefit Health Insurance Plans

  • Family Health Insurance

It offers health coverage to the entire family (self, spouse, dependent children, and parents) in a single health insurance plan. It is more affordable, the sum assured can be availed of as often as needed among all the family members.

  • Individual Health Insurance

It offers health coverage to a single person only. This type of health insurance covers the cost of surgery, hospitalization, room rent, day care procedures and many more. The premium amount of an individual health plan is determined based on the insured age and medical history.

Type of Insurance

Causality Line

  • Carrier Legal Liability Insurance

Carrier Legal Liability Insurance shields transportation companies from legal liabilities to cargo owners during transportation. It covers expenses for damage, loss, or destruction of goods during transit, including loading and unloading. The policy applies when the carrier or its employees are negligent or commit criminal acts, or when the carrier’s vehicle is damaged due to accidents or fires. This insurance safeguards carriers, allowing them to compensate cargo owners for any harm to goods while in their custody. 

  • Senior Citizen Health Insurance

It offers health coverage to people who are above 65 years of age. Generally, the premium amount of a senior citizen health plan is slightly higher than that of an individual and family health insurance plan. A senior citizen health insurance covers the cost of medicines, doctor’s consultation, pre and post-hospitalization etc.

Benefit Health Insurance Plans

  • Family Health Insurance

It offers health coverage to the entire family (self, spouse, dependent children, and parents) in a single health insurance plan. It is more affordable, the sum assured can be availed of as often as needed among all the family members.

  • Individual Health Insurance

It offers health coverage to a single person only. This type of health insurance covers the cost of surgery, hospitalization, room rent, day care procedures and many more. The premium amount of an individual health plan is determined based on the insured age and medical history.

USP

  • We are known as liability insurance experts in a number of industries due to our technical skill in identifying liability risk and creating insurance solutions that assist the insured in the event of an unforeseen catastrophe.
  • We offer Contractual review services and related assistance, with an emphasis on insurance clauses.
  • We offer advice on Global insurance program structuring - DIC/DIC provisions, local papers issuance and layering insurance programs.
  • We produce comparisons of several quotes to help the insured make an informed decision about the purchase of an liability insurance policy at reasonable premium rates
  • We assist with post-placement documentation to comply insurance clauses of commercial contracts by arranging an Additional insured endorsements, Waiver of subrogation endorsement and Certificate of insurance in Liability Insurance policies.

Frequently Asked Questions

There are certain business operations where your organization is legally required to have liability insurance, which varies from country to country.  

  For example – In India following are some mandatory insurance policies –  

a.)   Third-party motor insurance policy for owners of vehicles  

b.)    Public Liability Insurance Act policy for owners handling hazardous substances. 

c.)    Professional Indemnity Insurance for Insurance Brokers.  

Typically, there is no defined thumb rule for deriving a limit of liability of any liability policy unless it is defined by law (i.e., maybe for policies mandated by law.) however, Beacon can help Insured in opting ideal Limit of liability for any liability policy by doing peer analysis of limits opted by competitor organizations. 

In today’s business environment, innovative developments, strict regulatory compliance, consumer awareness, etc. can exposure origination to various liabilities, and for any organization, it is impossible to ascertain the financial severity of a legal claim thus, liability policies will step in to protect the organization from such claims provide organization has taken all the applicable liability policies after proper understanding of risk exposure.  

In India, liability insurance policies are not tariff-based policies like Property Insurance policies, and thus, underwriters have to analyse the risk carefully to derive on premium after due consideration of various factors such as the Nature of your business, Type of products/services, Geographical operations of the business, Claim history, Locations occupancies, Projected turnover, etc. 

As an Insured, various parameters has to be looked into before placing any liability insurance policy. Some of the important parameters to be checked are –  

  • Scope of coverage offered by underwriters for the risk 
  • Reasonability of Premium charged by underwriters. 
  • Reasonability of deductible as per market practice.  
  • Any specific warranty & additional exclusion.  
  • Claim paying appetite and capacity of insurer, etc. 

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