General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities.
There are also other covers such as credit insurance, errors and omission insurance etc for professionals.
Suitable general Insurance covers are necessary for every family. It is important to protect one’s property, which one might have acquired from one’s hard earned income.
Your liabilities to others arising out of the law can also be insured and is compulsory in some cases like motor third party insurance.
One of the main reasons one should insure is to protect one’s belongings and assets against financial loss. When one has earned and accumulated property, protecting it is prudent. The law also requires us to be insured against some liabilities. That is, in case we should cause a loss to another person, that person is entitled to compensation. To ensure that we can afford to pay that compensation, the law requires us to buy liability insurance so that the responsibility of paying the compensation is transferred to an insurance company.
In Reinsurance, our services relate to structuring of facultative and treaty covers (risk coverage, wordings, terms, and conditions), identification of capacity markets & placement of both outward & inward business.
Most general insurance covers are annual contracts.
