Insure and be Secure !

Insure and be Secure ! Anybody who pays the premium expects that he / she would get reimbursement of the loss upon happening of an eventuality resulting in a claim, covered by the insured peril. But , how many people get the claim and those who are fortunate to get, are they really satisfied with the claim amount they receive from the underwriters? How many people read the terms and conditions written on the Policy documents? At the time of selling insurance nobody tells them about the exclusions, terms and conditions and other exceptions of the Policy. It is only after the loss when the Surveyor comes and tells them that these are excluded perils and do not fall within the scope of the cover and shows the printed wordings written on the Policy document. There are some excluded risks which can be covered on payment of additional premium, but were not got covered because no body explained these to them at the time of selling the insurance. However, by the time the mishap takes place, it is too late. The insurer simply sends them a letter regretting their inability to pay the claim as it is not covered under the Policy.

Risk Management now a days is a very complex and specialised job which should be handled & managed by experienced and technically qualified & competent persons. At the time of taking a Policy the following points must be checked :-

1. Not only what Policy covers but more important what it does not cover.

2. Sum insured is adequate at all times during the policy period.

3. Premium has been rightly charged for the risks covered as per prevalent market rates.

If you have any query related to any type of policy send it to us, we will help you.