Products that are offered for sale by General Insurers include various types of
1)Property Insurance
The coverage offered by Property Insurance include risks of
Fire,Windstorm, hail aircraft, vehicle damage, riot and civil commotion, explosion, smoke, vandalism, sprinkler leakage, water damage, sinkhole collapse,volcanic action earth movement and crime.
2) Casualty Insurances
Coverage is offered for various types of liabilities to third parties of the Insured.
Legislation and court decisions require frequent changes to policy forms and underwriting guidelines.
Products offered by Life Insurers include:
1) Assurances: The coverage offered include benefit in the event of death besides other benefits It can be classified into two sub groups: Pure death benefit contracts also called Term Assurances and Endowment benefit contracts which provide a death benefit if death takes place and a survival benefit during the period of contract which is also called Money Back Assurance.
2) Annuities: The product provides benefits on the event of survival at stipulated time intervals besides other benefits. It can be classified into two sub-groups: Deferred Annuity which provides an immediate annuity after a specified period called 'deferment period' and Immediate Annuity that provides a series of payments at a stipulated interval on survival.
1)Property Insurance
- Fire Insurance
- Marine Insurance - Ocean marine and Inland water Insurance
- Motor Insurance
- Other Miscellaneous Insurances
The coverage offered by Property Insurance include risks of
Fire,Windstorm, hail aircraft, vehicle damage, riot and civil commotion, explosion, smoke, vandalism, sprinkler leakage, water damage, sinkhole collapse,volcanic action earth movement and crime.
2) Casualty Insurances
- Auto liability
- General liability
- Workers Compensation
- Professional Liability
- Umbrella and Excess liability
- Package Policies
- Small accounts and Surety bonds
Coverage is offered for various types of liabilities to third parties of the Insured.
Legislation and court decisions require frequent changes to policy forms and underwriting guidelines.
Products offered by Life Insurers include:
1) Assurances: The coverage offered include benefit in the event of death besides other benefits It can be classified into two sub groups: Pure death benefit contracts also called Term Assurances and Endowment benefit contracts which provide a death benefit if death takes place and a survival benefit during the period of contract which is also called Money Back Assurance.
2) Annuities: The product provides benefits on the event of survival at stipulated time intervals besides other benefits. It can be classified into two sub-groups: Deferred Annuity which provides an immediate annuity after a specified period called 'deferment period' and Immediate Annuity that provides a series of payments at a stipulated interval on survival.
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