2. Value Proposition
Assets
Protection
Student
Protection
Workforce
Protection
Liability
Protection
A single policy
ensuring
comprehensive
insurance protection
for various assets of
the institution such
as building,
contents, portable
equipments and
motor vehicles.
Ensures education
continuity benefit to the
students.
Provides relief in the
event of accidental
contingencies to the
students.
Covers the medical
expenses incurred on the
medical treatment of the
students for accidental
bodily injuries, including
specified daycare
treatments.
Provides relief in
the event of
accidental
contingencies to the
workforce.
Covers the
medical expenses
incurred on the
medical treatment
of the workforce for
accidental bodily
injuries.
Covers
institution’s legal
liability arising out
of third party
property damage or
bodily injuries.
Covers
institution’s legal
liability arising
under WC Act,
Fatal Accidents
Act and Common
Law.
3. Policy Coverage
1. Student Secure (Mandatory Cover)
Education Continuity Cover for students
who are above 5 years ( outstanding course
fees or SI whichever is less)
Group Personal Accident Cover for
Students who are above 5 years
Accidental Hospitalization Cover for
Students who are above 5 years
2. Staff Secure (Optional Cover)
For Teaching Non Teaching Staff
Group Personal Accident Cover
Medical Expense Reimbursement
4. Property Secure (Optional Cover)
Fire and Allied Perils
Burglary and Robbery
Money Insurance
Fidelity Guarantee
Portable Equipments
(Laptops, Portable Printers
Portable Projectors)
Motor Insurance
3. Liability Secure (Optional Cover)
Public Liability
Workmen Compensation
4. Salient Points
Education Continuity Cover: The SI could be one for all students. In case the
Institution wishes to choose different SI for different grade/level of students, we need to
work out the same separately .
Education Continuity Cover: The outstanding fee amount (for a maximum of 5 years
course fees) or SI ( which ever is less ), subject to a maximum of Rs. 10 lakhs, will be
paid as a lump sum to the Institution on the accidental death and/or permanent total
disability of the earning parent , which will be certified by the Institution.
Student Secure and Staff Secure: They are offered on un-named basis and no selection
is available.
Student Secure and Staff Secure: Education Continuity, Group Personal Accident and
Accidental Hospitalization Covers (excluding daycare treatment cover) are 24hrs cover.
Daycare Treatment Cover: As part of the Accidental Hospitalization Cover, the daycare
treatment cover pertains to medical treatment availed for drowning, animal bite, food
poisoning and fracture (excluding ligament tear) arising out of accidents caused during
Institution hours, as specified by the Institution.
5. Adjustment of Premium for Student Secure and Staff Secure
At the end of every quarter during the Policy Period, the Insured shall provide the
Company with a written record of the actual amount of actual number of persons
within such category during the Policy Period and any information or supporting
documentation in respect thereof that the Company may request.
If the actual number of persons within such category ascertained exceeds Insured’s
estimate of the same, the Insured shall pay to the Company any additional premium
that the Company may determine by reference to the differential, or if the actual
number of persons within such category is less than the Insured’s estimate of the
same, the Company will reimburse the Insured by reference to the differential but
subject to minimum retention of premium of 25%.
8. Policy Issuance Process Flow
Educational Institutions’
insurance requirements
Discussion with Bajaj
Allianz’s sales team over
Education Package Policy
Clarity regarding policy
coverage provided to the
Educational Institution
In order to obtain the
policy, Educational
Institution to submit the
proposal form and
requisite premium
Based on the details
furnished, Bajaj Allianz to
underwrite the proposal
and issue a policy
Policy Document handed
over to the Educational
Institution
9. Claims Settlement Process Flow
Occurrence of a loss to
the subject matter due
to an insured peril
Insured to immediately
register the claim with
Bajaj Allianz
Bajaj Allianz to assess
the loss on the basis of
submitted documents and
survey report
Bajaj Allianz will check
the circumstances of the
loss and appoint a
surveyor (if required)
Insured to submit the
requisite claim forms to
Bajaj Allianz
Based on the loss
settlement, claim to be
settled
10. Claims Documentation
Student Secure (Mandatory) Claims Documentation – claim form is compulsory for all
Education Continuity Cover
Death Certificate,
Medical certificate confirming disability,
Certificate from the institute confirming the outstanding fees,
Schedules of fees from Prospectus at the time of admission,
Fee Receipts. The claim will paid direct to institute as a lump sum amount
Group Personal Accident Cover
(Students)
Death certificate Post Mortem Report – In case of Death Claim,
FIR where applicable Doctor Certificate indicating percentage of disability
Accidental Hospitalization Cover
(Students)
Death certificate Post Mortem Report – In case of Death Claim,
FIR where applicable Doctor Certificate indicating percentage of disability,
Medical Expenses- Original Discharge Summary,
Lab reports,
Pharmacy bills along with respective prescriptions.
Daycare Treatments (food poisoning,
animal bite, drowning and fracture)
Attending doctor’s certificate and chemists / pharmacy bills
11. Staff Secure (Mandatory) Claims Documentation
Group Personal Accident Cover
(Teaching Staff Non
Teaching Staff)
Death certificate Post Mortem Report – In case of Death Claim,
FIR where applicable
Doctor Certificate indicating percentage of disability,
Original Discharge Summary,
Lab reports,
Pharmacy bills along with respective prescriptions.
TTD – Leave Certificate,
Fitness Certificate,
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured of the same
Medical Expenses Reimbursement
(Teaching Staff Non
Teaching Staff )
Death certificate and Post Mortem Report – In case of Death Claim,
FIR where applicable.
Doctor Certificate indicating percentage of disability,
Medical Expenses- Original Discharge Summary,
Lab reports,
Pharmacy bills along with respective prescriptions.
Claims Documentation … Contd.
12. Liability Secure (Optional) Claims Documentation
Public Liability
Event Update, Relevant Correspondence,
Legal Documentation like Complaints,
Show Cause Notices,
Summons etc,
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured of the same
Workmen's Compensation
Proof of attendance (muster copy-certified.)
Proof of salary (salary slip copy) or Salary Payment Voucher.
Proof of age in case of death/PTD/PPD,
Post-mortem report and death certificate in case of death,
Full memorandum of the accident with the witnesses as submitted to the factory inspector,
Doctor's certificate stating percentage of disability, nature of injuries treatments.
X Ray Report/Pathology Lab Report, Original bills for medicines purchased from chemist
supported by prescriptions of attending doctor.
Copies of all investigation reports/test reports, including X ray report,
Leave certificate from the doctor
Total no. of Employees at the time of Accident,
Wage Sheet of the Insured for the past 12 months preceding the date of injury.
Claims Documentation … Contd.
13. Property Secure (Optional) Claims Documentation
Fire and Allied Perils
Estimate of Repairs/ Replacement,
FIR and Fire brigade report where applicable,
Books of accounts, stock statements, bank statements and any other document called for by the
insurer/surveyor,
Where the circumstances of loss necessitate submission of any further documents, the Insurer/surveyor
shall advise the Insured of the same within 7 days of being informed of the loss.
Burglary and Robbery
Estimate of Repairs/ Replacement,
FIR and Fire brigade report where applicable, Books of accounts,
stock statements, bank statements and any other document called for by the insurer/surveyor,
A copy of the Complaint lodged duly acknowledged by the Police.
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured of the same within 7 days of being informed of the loss.
Money Insurance
FIR, Complaint lodged duly acknowledged by the Police,
NTC from Police Authority,
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured of the same within 7 days of being informed of the loss.
Fidelity Guarantee
FIR, Complaint lodged duly acknowledged by the Police,
NTC from Police Authority,
Where the circumstances of loss necessitate submission of any further documents,
The Insurer/surveyor shall advise the Insured of the same within 7 days of being informed of the loss.
Portable Equipments (Laptops,
Portable Printers and Portable
Projectors)
Estimate of Repairs/ Replacement, .
Final Bills for Repairs/ Replacement,
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured of the same within 7 days of being informed of the loss.
Claims Documentation … Contd.
14. Property Secure (Optional) Claims Documentation
Motor Insurance
Copy of Registration of Vehicle along with Original for verification,
Copy of Driving License along with Original for verification,
Estimate of Repairs/ Replacement,
FIR where applicable, Fire Brigade Report where applicable,
For theft / burglary claims, a copy of the Complaint lodged duly Acknowledged by the Police,
RC of the vehicle to be transferred in the name of our Co.,
Letter of Subrogation,
Letter of Indemnity,
Original Keys of the vehicle,
Where the circumstances of loss necessitate submission of any further documents,
the Insurer/surveyor shall advise the Insured.
Claims Documentation … Contd.
