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General Insurance

General Insurance

General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event.


These are investments that not only provide capital for your future, but can give you some peace of mind about your present.  This is not a financial event to be overlooked or ignored. By choosing the right general insurance, you are letting us take the worry out of protecting your financial future. 


We at Smart Investments will help you find affordable general insurance that lets you maintain a greater peace of mind and secure things that matter the most to you and your company.

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Why Is General Insurance Important?

In a competitive market place you need to protect your assets and more importantly your reputation. This is why we are the leading name in general insurance. From protecting your home and cars to providing cover for your belongings, general insurance is an essential part of growing and protecting your belongings and we will help you obtain the right insurance cover based on your requirements.

Fire insurance policy covers damage and losses caused by fire. It helps to cover the cost of replacement, repair or reconstruction of property.

How to arrive at SUM INSURANCE: Sum Insurance in fire policy should be calculated as per Reinstatement value.

Reinstatement Value (RIV): It is the cost of today’s market replacement value / reinstatement of the existing property by a new one in the current date (New for Old).

Insurable Property under fire cover:
1) Buildings
2) Electrical installation in buildings
3) Machinery, plant and equipment, accessories, etc
4) Stock (RM/WIP/ Finished goods, packing materials etc.)
5) Stock in open
6) Furniture, fixtures and fittings
7) Pipelines (including contents) located Inside or outside the compound

Policy Coverage’s:
1) Fire:
2) Lightning:
3) Explosion/Implosion:
4) Aircraft Damage:
5) Riot, Strike, Malicious and Damage:
6) Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation:
7) Impact Damage:
8) Subsidence and Landslide including Rock slide:
9) Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
10) Missile Testing operations
11) Leakage from Automatic Sprinkler Installations:
12) Bush Fire:

Basic information to collect for Quotation
Information Required (mandatory):
1) Client Name
2) Risk Location, layout of the unit
3) Occupancy of the risk
4) Claims Experience of the past 3 years
5) Fire Protection Measures

6) Any water body in close vicinity

7) Sum insurance of Building
8) Sum insurance of plant and machinery
9) Sum insurance of Furniture Fixture & Fittings
10) Sum insurance Electrical Fitting and Installations
11) Stocks value
12) Stock in process value

Introduction: Marine or Cargo insurance covers the loss or damage of cargo/goods in transit between the points of origin and the final destination.


Marine insurance covers Movement of goods from one place to another:

  • Within the country (Inland)
  • From India to Country outside India (Export)
  • From Country outside
  • India to India (Import)

Who needs Marine Insurance?

  1.  Importer
  2.  Exporters
  3. Manufacturers
  4. Traders
  5.  Merchant Exporters
  6.  Contractors of Projects
  7.  Logistics Operators

Risk Covered:

  • Fire, Lightening or Explosion
  • Overturning or derailment of vehicle
  • Earthquake or Volcanic Eruption during transit
  • Collision between 2 Vehicles
  • River or lake water entering cargo
  • Damage/Loss to goods during loading & unloading
  • Damage/Loss to goods during handling of goods in transit
  • Theft or malicious damage
  • Shortage or non-delivery of goods
  • Hijack of goods

Types of Marine Cargo Policies:

  1. Marine Single Transit Policy: Covers single consignment from one location to another location
  2. Marine Open Declaration Policy (MOP): MOP is an annual arrangement between the insured and the insurer to provide coverage to all the shipments (Domestic/Import/Export).
  3. Sales Turnover Policy: It’s a wider form of Marine Open Policy and is
    issued on the basis of annual sales turnover (Import, Export & Inland)

Information Required for Quote:
1)Basic Client Information
2)Policy Duration
3)Nature of Commodity and its description
4)Value of cargo (Sum Insured)
5)Custom Duty (In case of Import)
6)Packing Description

7)Per Sending and Per Location Limit Basis
8)Claim experience: Last 3 years

Scope of Cover:
The policy covers indemnification of medical expenses incurred by the Insured during hospitalisation, day care incurred and for any illness or injury suffered in India which can be in form of cashless and reimbursement mode.

Sum Insured:
The Sum Insured can be minimum as 50,000/- and maximum as 10,00,000/-

Who can be covered: Employee, Spouse, children & Parents.

Major Covers:

  • Cashless facility available PAN India
  • Cover for Pre-existing Diseases from day 1
  • Maternity Expenses
  • Baby day one cover
  • Out Patient Department (OPD) expenses
  • Ambulance charges
  • Pre and Post Hospitalization: medical expenses incurred 30 days
    prior to hospitalization and 60 days after hospitalization.
  • Room rent, nursing charges, consultation fees, diagnostic charges,
    OT charges etc
  • Domiciliary hospitalization

Basic information to collect for Quotation
Information Required (mandatory): Minimum 11 employees require to
take policy-
1) Client name
2) Address
3) Occupancy
4) Sum insurance per family
5) Employee Name, date of Birth, designation
6) Spouse Name, date of Birth
7) Child Name, date of Birth
8) Parents Name, date of Birth

What is GPA: 
GPA or Group Personal Accident covers human life against Accidental Death and Disabilities. GPA is covered worldwide. Human life is very precious. However, eventualities like death, disability & loss of earning capacity cannot be eliminated & when such eventualities happen, it leaves the individual’s family devastated. GPA product cover is designed to ensure that members and their families get the necessary financial protection they much need during difficult times. 

Scope of Cover:  
Table A: Accidental Death 
Table B: Table A + loss of two limbs, two eyes or one limb and one eye (Permanent Total Disablement PTD) 
Table C: Table B + Permanent Partial Disablement (PPD) 
Table D: Table C + Temporary Total Disablement (TTD) (TTD –1% of SI or Rs.5,000 per week (For employees only) 

Types of Disablement: 

  1.  Permanent Total Disablement (PTD):  
    Disablement of permanent and irrecoverable nature i.e. the person  
    is prevented from engaging in gainful employment of any kind. e.g.  
    loss of sight of both eyes, physical separation of two entire hands. 
  2. Permanent Partial Disablement (PPD):  
    a) Similar to PTD the only difference being that the disablement is  
    partial e.g. loss of toe or a finger.  
    b) Compensation is payable on the % of loss, which is mentioned in  
    a table and if not available in the Table, as per doctor’s  
    c) Temporary Total Disablement (TTD)  
    d) Disablement is total but for a temporary period. Eg. Fracture of  
    leg with complete bed-rest. 

Add-On Covers Available under GPA: 

  • Cover of Expenses related to Burn 
  • Repatriation of Mortal Remains 
  • Ambulance Charges 

Basic information to collect for Quotation  
Information Required (mandatory): Minimum 11 employees require to 
take policy 

  1. Client name 
  2.  Address 
  3.  Occupancy 
  4. Sum insurance per family 
  5.  Employee Name, date of Birth, designation, monthly salary 

The Workmen Compensation (WC) Act provides for payment of compensation to Employees and their dependants in case of injury and accident at workplace. WC claims are for accidents within work premises and during working hours.



  1. Accidental death: Death due to accident on workplace during worktime
  2. Permanent Total Disability: Disablement of permanent and irrecoverable nature i.e loss of two limbs, two eyes or one limb and one eye
  3. Permanent Partial Disability: Partial loss of body parts i.e loss of toe,
    finger etc
  4. Temporary Total Disability: Fracture of leg, hand etc

Sum Insured: The Sum Insured is calculated on the basis of Earnings including

wages, salaries and other perquisites.

Information required for Quote:
1) Company Name
2) Risk location Address
3) Nature of work
4) Occupancy
5) No of Employees
6) Monthly wages
7) Policy duration
8) Claim Experience of last 3 years with amount and count of claims

Information for Intimation of Claim:
1) Policy Number
2) Insured Name
3) Injured Name
4) Date of Accident (Loss)
5) Nature of Claim – TTD/ PPD etc
6) Brief description of accident


CGL is designed to protect these businesses against a broad set of claims made against it for causing bodily injury, property damage, personal & advertising injury & defence costs Liability risks are a threat to businesses of all sizes and the potential for large losses isn’t limited to large companies only. For example, a bodily injury lawsuit can easily result in a claim amount that’s higher than annual revenue for a small or mid-sized business. In today’s world, where customers are aware of their rights and are equally able in exercising them, the businesses need a thorough protection to safeguard their interests.

A CGL insurance policy will usually cover the costs of your legal defence and will pay on your behalf all damages if you are found liable—up to the limits of your policy. CGL coverage is one of the most important insurance products, due to the negative impact that a lawsuit can have on a business and because such liability suits happen so frequently.


Standard CGL includes:

  1.  Bodily Injury and Property Damage Liability: Bodily injury and property damage coverage provides protection against losses from the legal liability of insureds for bodily injury or property damage to others arising out of non-professional negligent acts or for liability arising out of their premises or business operations. Mental injuries and emotional distress can be considered bodily injuries, even in the
    absence of physical bodily harm.
  2. Personal and Advertising Injury: Personal and advertising injury liability protects an insured against liability arising out of certain offenses, such as: Libel, slander, false arrest, Wrongful eviction, entry or invasion of privacy.
  3.  Medical Payments: medical payments include payments for injuries sustained by a non-employee caused by an accident that takes place on the insured’s premises or when exposed to the insured’s business operations.
  4. Information for quote:
    1) Company name
    2) Address
    3) Occupancy
    4) Sum insurance
Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization. It can also cover the legal fees and other costs the organization may incur as a result of such a suit.
Directors and Officers of a company act in their fiduciary capacity, exercise his/her duties with due and reasonable care, skill and diligence and shall exercise independent judgment. They are supposed to Act in Good Faith in order to promote the objects of the Company for the benefit of its members as a whole, and in the best interests of the Company, its employees, the shareholders, the community and for the protection of the environment.
Some of the instances where D&O’s can be held liable are:
  • Inadequate/Inaccurate Disclosure, including financial Reporting
  • Breach of duty to minority Shareholders
  • Misuse of corporate fund
  • Employment Practice
  • Violation – Wrongful Termination, sexual
    harassment etc
  • Misuse of Inside information for personal gain
  • Imprudent expansion leading to erosion of shareholder wealth
  • Irregularities in securities issue
  • Non-Compliance with Companies Act

The above instances along with negligence/ /breach of trust/ non-compliance with laws and regulations can in turn attract a wide scope of lawsuits that could emerge from third parties including clients, sellers, shareholders, regulators, employees and general public.

Standard Coverages:
  • Abduction Response Cover
  • Civil Fines and Penalties
  • Counselling Costs
  • Crisis Mitigation Cost
  • Defence Cost for breach of occupational health and safety laws, including workplace death Claim
  • Deprivation of Assets Costs
  • Extradition Costs
  • Investigation Cost

For a patient, his doctor is someone who promises good health by putting him on the right fitness condition when an emergency lands. Unfortunately, human error cannot be eliminated and doctors are exposed to the risk of claims from clients who have suffered loss due to neglect, error or omission.

In today’s litigious world, claims can pose a significant threat to the financial security for a medical practitioner. Your expertise is protecting the health of your clients. Our expertise is advising you how to protect your professional interest.


Professional Indemnity for Doctors Policy protects you against:

  • Claims arising out of bodily injury or death caused by error, omission, negligence
  • Legal liability including defence costs (costs, fees, expenses) incurred while investigation, cost of representation, compensation etc

Who is covered?

  • Doctor
  • Nurses
  • Qualified assistant
  • Technician employed by doctor


  • Consumer dispute redressal commission in Bengaluru has asked three doctors of reputed Hospital to pay a compensation of INR 23.5 Lakhs to the family of a woman who died due to medical negligence
  • The Delhi consumer commission has directed a private hospital and two orthopaedics to pay INR 25 Lakhs as compensation to a patient who had suffered 40% disability on his left leg due to medical negligence
  • The National Consumer Disputed Redressal Commission (NCDRC) has directed a private hospital in Indore and two of its doctors to pay INR 15 Lakhs as compensation to a child who suffered deformity due to medical negligence during her mother’s pregnancy

As a professional, you are expected to discharge your duties diligently, but no matter how diligent you were in your deliverables to your clients, allegations can still be made against you. These allegations of negligence and errors in carrying out your profession can prove to be burdensome. These can leave you open to the ever- increasing possibility of legal action against you, your company or your employees.


Negligence, breach of trust, misleading statement, legal liability and lawsuits these are some of the frightening nightmarish terms which professionals may come across every now and then while performing professional services.


Thus, in order to protect you and your company against such allegations Insurance company had introduced Signature Professional Indemnity Insurance Policy.


Product coverage:
Professional Indemnity insurance is a claim made policy, providing coverage for losses to third-party companies arising out of Error, Omission or Negligence by the company or its employees.



  • Breach of Confidentiality
  • Defamation
  • Worldwide Cover
  • Breach of Contract
  • Loss of data or documents
  • Infringement of copyright
  • Coverage for acquired subsidiaries
  • Acts of dishonesty by anyone employed or contracted by you
  • Breach of privacy

Claim includes:

  • Written demand for compensation
  • Legal suit or proceeding
  • Arbitration or mediation proceeding

The Engineering policies are mainly divided into:

1) Project Policies: Project insurance covers ‘All-risks’ of loss or damage to the permanent and temporary works comprising the contract, including the materials, and all things used for or intended for incorporation within the contract, throughout various phases of the construction / erection, including testing
a) Contractors’ All Risk Insurance (CAR): All types of civil works ranging from small buildings to massive dams/structures are susceptible to damage by fire, water, storm, impact, landslide and the like and exposure to such damage commences right from the first delivery of materials at the contract site and site and continues during the entire period of contract.
b) Erection All Risk Insurance (EAR): insurance offers protection to Principals and Contractors and also to Manufacturers and Suppliers erecting machinery and plant etc. against financial loss due to any sudden fortuitous and unforeseen causes resulting in loss or damage to the property insured at the project site whilst being stored, erected, tested and maintained


Coverage under Project policies (CAR/EAR):


  • Location Risks: Fire, Lighting, Theft, Burglary & Housebreaking
  • Handling Risks: Impact from falling objects, Collision, Failure of Cranes or Tackles etc.
  • Testing and Commissioning Risks: Failure of Safety Devices, Leakage of Electricity, Insulation failure, short circuit, explosion
  • Risk of Human Element: Carelessness, Negligence, Faults in Erection/ Construction, Strike & Riot, Malicious damage, Terrorism
  • Act of God: Storm, Tempest, Hurricane, Flood, Inundation, Subsidence, Landslide, Rockslide, earthquake

Cyber insurance provides first-party expense and third-party liability coverage to companies when personal/confidential information is compromised and other cyber related events like Denial-of-Service attacks or Hacking put the Organization at the risk of loss of business.



  • Security & Privacy Liability: Claims and damages payable to third parties as a result of a data breach or failure of computer security
  • Civil Fines & Investigation – Fines & Penalties levied by regulatory authority and insurable by law
  • Crisis Management Costs: Crisis communications costs associated with managing a negative publicity event
  • Multimedia Liability – Liability arising from third party for plagiarism, defamation, libel, or other negligent acts relating to publication of media
  • Cyber Extortion – Ransom payments and other fees associated with an extortion threat, it would also cover the costs of retaining security professionals to help resolve the incident.
  • Data Restoration Costs – Expenses incurred to restore, repair, or recreate data after corruption, destruction, or other loss.
  • Forensic Costs – Expenses incurred to conduct the forensic investigation
  • Privacy Notification Costs – Costs incurred in notifying relevant
    stakeholders about the incident and the procedures for dealing with the incident.
  • Business Interruption Loss – Loss of revenue due to material interruption

Food and drink, cosmetics & packers and distributors are most susceptible to product contamination. Most contaminations are caused by biological or allergen contaminations. Food and food products exports have grown year on year, making Indian manufacturers compliant to international safety norms.

To recall contaminated product from the market, this policy helps in recovered the cost.


  • Tomato Recall / Jalapeno Peppers (Salmonella found in salsa)
  • Melamine in Pet Food (Melamine and aminopterin contamination)
  • Chocolate Salmonella Recall 2006, UK (Leaking waste pipe at chocolate crumb plant)
  • Noodles recalled from market (Higher than approved quantity of lead in Maggi)


The insurance policy protects the insured for insured events as below:

  • Accidental Contamination
  • Malicious Product Tampering
  • Intentionally Impaired Ingredients
  • Product Extortion
  • Government Recall
  • Adverse Publicity


  • Pre-Recall Expenses
  • Recall Expenses
  • Third Party Recall Expenses
  • Loss of Gross Profit
  • Rehabilitation Expenses
  • Increased Cost of Working
  • Product Extortion Demand
  • Consultant costs
  • Civil fines and penalties

This insurance policy safeguards the company from financial losses arising due to forgery, money misappropriation (defalcation), embezzlement, and other dishonest acts by employees.



  • An employee setup multiple fake vendor account. He got several invoices processed, with values below INR 25,000 each. As per the company process, no Purchase Order was required for INR 20,000 transactions below. When the loss was discovered, the total quantum had crossed INR 2 Crore.
  • 3 employees from an e commerce portal executed a massive fraud, wherein the company lost INR 20 crore. These employees created fictitious clients, and scooped out commissions worth INR 20 crore.

Product Coverage:
A policy which offers cover against employees’ theft and any losses resulting from Criminal Acts first discovered during the policy period or any extended reporting period.


Standard Covers:

  • Internal Crime (committed by employee)
  • Employee theft Cover: It includes loss of securities, money by theft
    or forgery by the employee of the company acting alone or in
    collusion with others
  • Theft: losses of money, securities whether from the insured’s
    premises or during transit
  • Forgery:
    a) the signing of another natural person’s name; or
    b) the endorsing or amending without authority, of any cheque,
    draft, promissory note or bill of exchange or other Financial
    Instrument given or received by an Insured with the intent to
    deceive Definition of employees includes part-time or temporary

Employment Practices Liability Insurance is a claim made policy, providing coverage for losses to Employees arising out of Employment Practices Wrongful Acts by the company.


Examples: Employment Practices Wrongful Act includes discrimination, retaliation, sexual harassment, wrongful termination, wrongful discipline, failure to promote etc.



  • Defence costs
  • Coverage for Subsidiaries
  • Emergency costs cover
  • Employment Crisis Fund
  • Cover Coverage for Insured Person’s lawful spouse, estates, heirs
    and legal representatives

Claim includes:

  • any written demand
  • any written request or agreement to toll any applicable statute of
  • any civil proceeding commenced by service of a complaint or similar pleading
  • any arbitration, mediation or other similar dispute resolution proceeding
  • any administrative or regulatory proceeding, including proceedings before the Equal Employment Opportunity Commission (“EEOC”) or any similar agency of any state or local government in any other jurisdiction, commenced by the filing of a notice of charges, formal investigative order or similar document

Public Offering of Securities Insurance or Initial Public Offering Insurance indemnifies insured against securities claims and provides cover for the wrongful acts of, the company and its directors and officers arising from the issue of a prospectus, the underwriter or sponsor of the issue and third parties associated with the issue.

Do these scenarios seem familiar?

  • The Securities and Exchange Board of India (SEBI) imposed a total penalty of Rs.86 Crores on directors of a listed Indian company for misstatement and misrepresentation in the prospectus
  • Class action lawsuit was filed against Rediff, three of its officers and one of its directors alleging that the Prospectus was materially false and misleading


Investigation Costs – Covers fees, costs and expenses incurred by an Insured Person in relation to an Investigation in relation to a Securities Offering

Emergency Costs – If, due to an emergency, the insurer’s written consent cannot reasonably be obtained before defence costs are incurred with respect to claim, the insurer will give retrospective approval for such defence costs

Crisis Management Cost -Costs of PR consultants to prevent or limit adverse effects or negative publicity in the event of postponement or cancellation on account of a force majeure event

Deprivation of Assets Cover – Covers Costs , expenses, fees incurred by the Insured Person to obtain the discharge or revocation of a judicial order

Extradition Costs Cover – Covers fees, costs and expenses incurred, with the Insurer’s prior written consent in any extradition proceedings or related appeal

Major Exclusions-

  • Dishonest or fraudulent acts
  • Prior claims or circumstances
  • US Securities Claim
  • Underwriter Professional Liability
  • Personal profit to which not legally entitled
Money insurance policy provides cover for loss of money in transit between the insured’s premises, bank and other specified places occasioned by robbery, theft or any other fortuitous cause. It also provides cover for loss of money in the business premises, safe or vault, etc.

  1. Money in Transit: Covers Loss of money in transit by authorized employee(s) due to robbery, theft or any other fortuitous cause.
  2. Money in Safe: Loss of, or damage to, money and / or valuables caused by burglary and / or attempted burglary
  3. Money at Counter: Loss / theft of money from cash counter during business hours from the cash collection counter in the office /insured premises

Fidelity Guarantee Insurance Policy:
  • Covers direct financial loss owing to infidelity / fraud or dishonesty of the employee
  • Cover is allowed for only permanent / on roll employees of the firm
  • Cover may be on Named Basis / Designation basis OR Unnamed basis
  • Limit per employee and Total limit during policy period to be provided
  • Duties during the uninterrupted continuance of his employment
  • Loss to be discovered within six months after its happening first or six months after the death, dismissal or retirement of such person.

  • Standalone proposal is not preferred. Proposal should be along with Fire business
  • Occupancy of the client
  • Estimated Annual Turnover and per sending limit
  • Mode of transit, who shall accompany and security details available during transit
  • Duration of transit and locations of transit

Why Choose Us?

Smart Investments is the ultimate option when it comes to medical insurance. We’ve got some of the best policies, and our representatives are always on hand to help.

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In-house claim settlement department

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Our very own inspection department

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Review of industrial safety and implementation and fire fighting equipment and services

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Review of your industrial risks and occupancy giving the right insurance product for the same

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Claim settlement services for all insurance companies

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Right Product For The Right Industry

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Fire Insurance Claim In 20 Working Days

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Pan India Presence

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Biggest Liability Insurance In Western Zone In India

Let us help you make the right decision. Contact us today to speak with an expert.


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