Commercial Insurance
1. Property Insurance
Covers loss or damage to a company’s physical assets such as buildings, machinery, equipment, and stock due to fire, natural disasters, theft, or accidental damage.
Examples: Fire Insurance, Burglary Insurance, Natural Calamity Insurance.
2. Liability Insurance
Protects a company against legal liabilities arising from injury, death, or property damage caused to third parties.
Examples: Public Liability Insurance, Product Liability Insurance, Employer’s Liability Insurance.
3. Marine and Cargo Insurance
Covers loss or damage to goods during transit by sea, air, or land.
Examples: Marine Cargo Insurance, Marine Hull Insurance.
4. Motor Insurance for Commercial Vehicles
Covers company-owned vehicles used for business purposes against accidents, theft, or third-party liability.
Examples: Commercial Vehicle Insurance, Fleet Insurance.
5. Engineering Insurance
Covers risks associated with construction, machinery, and engineering projects.
Examples: Contractor’s All Risk (CAR), Erection All Risk (EAR), Machinery Breakdown Insurance.
6. Business Interruption Insurance
Compensates for loss of income due to unforeseen events like fire, natural disasters, or machinery breakdown that disrupt business operations.
7. Professional Indemnity Insurance
Protects companies and professionals against claims of negligence, errors, or omissions in the services they provide.
8. Miscellaneous Commercial Insurance
Covers specialized risks depending on the industry.
Examples: Cyber Insurance, Fidelity Guarantee Insurance, Directors & Officers (D&O) Insurance