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Get in-depth market research for Insurance companies in India, Maharashtra, Mumbai. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.
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Total loss refers to a situation where the value of the damaged property is deemed to be beyond repair or recovery. In such cases, the insurance company may pay the full sum insured or replacement cost, depending on the terms of the policy.
A critical illness rider provides a lump sum payout if the insured is diagnosed with a severe illness like cancer, stroke, or heart attack, helping cover medical expenses.
Repatriation coverage pays for returning the insured traveler’s body home in case of death or transporting them for specialized medical care.
Risks include high premiums, potential policy lapse if not maintained, and lower returns compared to other investments. If a policyholder relies on cash value but does not repay loans, the death benefit can be significantly reduced, impacting beneficiaries.
Reinsurance is when an insurance company transfers part of its risk to another insurer to reduce financial exposure and maintain stability in case of large claims.
A grace period is the extra time given after a missed payment, allowing the policyholder to pay without losing coverage.
Endorsements and riders are modifications to an insurance policy that add, remove, or change coverage. For example, a homeowner may add a rider for jewelry coverage, or a business may endorse a policy to include cyber liability coverage.
Product liability insurance typically covers claims related to injuries or property damage caused by defects in the product, whether from faulty design, manufacturing errors, or improper labeling or warnings. Coverage can extend to legal fees and settlements.
Get in-depth market research for Insurance companies in India, Maharashtra, Mumbai. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.