This document classifies types of insurance covers and policies. It discusses the main categories of insurance of property, earnings/profits, liability, and persons. It then provides sub-classifications and examples of types of insurance like fire, marine, motor, health, and engineering. The document also describes different policy types like named peril policies, multi-peril policies, all risks policies, and package policies. It provides examples of specialized policies like first loss, fire declaration, floating, and valued policies.

1. PRESENT BY :-
SHIV SHANKAR THAKUR

2. Classification of Insurance Covers
Insurance of Property Insurance of Earnings/Profits
Insurance of Liability Insurance of Persons

3. Sub Classification of
Insurance Cover
Fire
Marine
Material
Damage
Loss of Profits
Hull and Cargo
Miscellaneous
Motor
Liability
Health
Project
Engineering
Rural

4. Named Peril Policy.
Classification by Type of Insurance policy
EXAMPLE:- A basic Standard Fire and Allied perils policy excludes perils of
earthquake; an
insured may decide to cover delete such exclusions on payment of
additional
premium, in order to obtain earthquake cover.
Multi Peril cover

5. All Risks insurance cover
Package Policy and Customized
Insurance Policy
EXAMPLE:- Electronic Equipment Insurance, Erection All Risks, Contractors All Risk in
Engineering class of insurance business
Industrial All Risks Policy etc.
combine protection for major property and liability risks in one package.
Generally, package policies are created for businesses that face same kind and
degree of risk. Package policy could be applicable to various segments of
customers and include home package (Householder’s Comprehensive policy),
shop package, office protection shield policy etc.

6. Special Covers.
First Loss Policy
Fire Declaration policy
Floating policies
Valued Policies