Premiums for general insurance products under the natural catastrophe segment could see a rise in premiums, in the wake of a rise in the number of incidents in this segment such as floods and earthquakes in the past two years.
General insurance companies are now looking at risk modelling and analytics for the natural catastrophe segment. This is being done through solutions provided by experts to ensure that that they are adequately prepared to deal with these risks.
Premiums for general insurance products under the natural catastrophe segment could rise with an increase in the number of incidents, such as floods and earthquakes, that hit parts of India in the past two years.
It's a common practice by insurance companies to change policy conditions at the time of policy renewal. Such changes, surreptitiously made without the knowledge or consent of the insured, are illegal and unjustified.
Leaving jewellery in the display window of a shop and outside the safe in the shop during night might not be covered by the insurance policy. If there is burglary, the insurer would not be liable to compensate the jeweller.