GENERAL INSURANCE,MOTOR INSURANCE,MEDICLAIM,MOBILE PHONE INSURANCE,BUGLARY INSURANCE,EMPLOYER LIABILITY

1. ELEMENTS OF INSURANCE
F.JOSEPHINE LENTA,
ASSISTANT PROFESSOR,
DEPARTMENT OF COMMERCE,
COLLEGE OF SCIENCE AND HUMANITIES,
SRM IST
RAMAPURAM

2. UNIT 5
GENERAL INSURANCE

3. GENERAL INSURANCE:
General insuranceornon-life insurancepolicy,includingautomobile
andhomeowners policies,provides payments dependingontheloss
fromaparticularfinancialevent. General insuranceistypically
definedasanyinsurancethatisnotdetermined tobelife insurance.

4. MOTOR INSURANCE
The'Act only' policy anda comprehensive policy. The scope of
the 'Actonly' policy is to pay compensationfor deathor any
bodily injuriesandfor damageto propertyof thirdparties.
While the insuredis treatedasthe firstpartyandthe
insurancecompany asthe second party, all otherswould be
thirdparties.
MEDICLAIM :
A Mediclaimpolicy is a sort of health insurance
policy in which the insurerreimburses the
policyholder for medical expensesincurred in
treating their medicalconditions.

5. MOBILE PHONE INSURANCE
Mobile phone insurance covers the cost of
replacingor repairingyour mobile phone if it’s
stolen, lost or damaged.
BURGLARY INSURANCE:
Burglaryinsuranceis animportantinsurancepolicy for your
propertyin orderto build a resilient business. It covers
unlawful damagescaused to the assetslikefurniture,
fixtures,machinery,equipment etc., insidethe business
premises.Generally, thispolicy isbundled withfire
insurancewhichincludes damagescaused dueto fire,
explosions, lightning etc

6. EMPLOYERS LIABILITY INSURANCE:
Employer'sliability insurance isthe insurance that employees of
the insured, who engagein the work that relates to the business of
the insured and is specifiedclearly in the insurance policy, and
suffer from accident or the nation specifiedoccupational disease
that relates to work, resulting in injury, disabilityor death, then the
insurer will compensate within the specifiedcompensation quota
for the medical expenses

7. INSURANCE SCHEMES BY GOVERNMENT:
Government Sponsored Socially Oriented InsuranceSchemes
 Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)
Pradhan Mantri Suraksha BimaYojana(PMSBY)
 Life Cover under Pradhan Mantri Jan Dhan Yojana
(PMJDY)
 VarishthaPension BimaYojana
 Pradhan Mantri Fasal Bima Yojana(PMFBY)
 Pradhan Mantri Vaya VandanaYojana(PMVVY)