about

Property & Engineering Insurance

Designed to cover loss or damage to Buildings, Plant & Machinery, Tools, Instruments and accessories, Furniture, Fixtures and Fittings, Electrical Installations, Stocks in trade including work in progress, etc due to Fire and Act of God perils. This policy is vital for all types of industry and trade groups, offices, service occupancies, households and assets belonging to all sections of the society.

Any Group/Association/Institution/Corporate body of more than 50 persons can take group Mediclaim policy. The institution should have a central administrative point. This Policy contains names of persons covered and provides cover to all eligible members.

Operational Safety

  • Comprehensive Safety Audit
  • Hazard Analysis Study(HAZAN)
  • Fire Protection Evaluation Study

Electrical Safety

  • Thermography Study
  • Static Charge Exposure Assessment
  • Lighting Protection Assessment

Industrial Hygiene

  • Occupational Health Hazard Assessment
  • Toxic Exposure Assessment
  • Humidity Impact Assessment
Group Health

Insurance support solutions

  • Risk Exposure Assessment
  • Review of Existing Insurance Program

Root Cause Analysis

  • Study on major Recurrent Losses
  • Contribution/Causative Factors – Analysis
  • Guidance on Loss Prevention Measures

Construction Safety

  • Study on Natural Catastrophe Loss Exposure
  • Exposures of Earthquake, Cyclone & Floods
  • Guidance on Risk Mitigation Measures

Logistics Management

  • Exposures of Earthquake, Cyclone & Floods
  • Guidance on Risk Mitigation Measures

Monitoring the Risk Management Process

Risk Identification is the process of identifying and examining the potential sources of losses an organization faces.

Risk Analysis and Prioritization is the assessment of the potential impact various exposures can have on the organization. The potential loss impact is analyzed at all levels, internally and externally.

Risk Control and Loss Prevention is any conscious action or inaction to minimize at the optimal cost, the probability, frequency, severity and unpredictability of loss.

Risk Financing is the arrangement of an apt Insurance cover at the least possible cost to pay the losses that strike the organization. Emedlife plays an important role by designing the best Insurance covers at the most cost effective premium rates.

  • Handling, Packing & Storage Practices –Study
  • Material handling Equipment – Assessment
  • In Plant Road Safety Assessment

Process Safety Management

  • Process Related Risk Exposure Assessment
  • Review of Safe Operating procedures(SOP’s)
  • Hazard Operability Study (HAZOP)

Business Continuity Management

  • Risk matrix Preparation
  • Business Interruption Exposure Assessment
  • Business Continuity Plan Preparation

NATCAT Modelling Study

  • Study on Natural Catastrophe Loss Exposure
  • Guidance on Insurance Program Coverage

Construction

Managing the Risk effectively for contractors can mean lower operating costs, higher profits and the capital that works Compact and Smarter. As part of your advisory team, Emedlife can show you how.

The risks associated with this industry are complex and onerous. We have specialists who design a range of insurance solutions for contractors, owners, project managers, architects, engineers and consultant. No matter how unpredictable the circumstances are.., Emedlife insights into risk and deep understanding of the industry make us partners you can rely on.

Financial Institutions:

Due to volatile environment financial institutions face an array of risks. With keen insights, dynamic strategies and powerful analytics, you can identify exposures and manage risks.

Insurance advice and Risk Management for financial institutions either nationally or overseas, is as varied according to law of land.

Financial Institutions:

Emedlife’s dedicated team of transportation provides the advices related to complete workforce solution and managing risk to enhance the business stability and operations.

Risks faced by transportation industry today are fundamentally different from those of the past. Supply chain risks, Cyber security and increasingly sophisticated logistics demand a holistic approach to risk. A calibrated combination of proactive strategies and rapid response is paramount for success. Emedlife’s Deep experience in the transportation industry and broad understanding of risk mitigation and management make us the ideal risk management partner.

Technology, media and telecommunications:

Dynamic risks are being faced with increase in stakes. The right tools, analytics, and insights can help you to better manage risks…and protect your business.

The Significant opportunities and new risks were created due to vast changes in the industry. Globalization and increased use of technology and importance of data analytics, Internet of things and big data have meant increased cyber risk, new regulatory threats and competition for IT talent. We use our deep insights of all industry sectors to help determine which risks need to be mitigated and where innovative risk management can provide new opportunities.

Aviation & aerospace:

Flying High and keeping up pace with the emerging risks of this transforming industry requires a good insights and deep understanding of risk and the expertise to apply it strategically.

The innovative and specialized solutions are essential for this industry to manage the risk.

A small peril may lead to big catastrophic disaster. In many cases claim cannot be identified for some years after an accident, in these cases liability insurance plays a crucial role.

Chemical

Managing and identifying the risks involved to protect the bottom line with the help of expertise is needed.

Emedlife is a leader in professional risk and advisory services to the chemical industry. Whether the customer is an end product manufacturer or an intermediate chemical producer, we offer creative and innovative solutions to meet their needs. We provide a broad range of front-end and back-end services to our clients whose exposures include:

Group Health

Operational Safety

  • Manufacturing
  • Distribution
  • Product application
  • Transportation
  • Bio-chemistry
  • Pharmaceutical

Education

To manage the education institutions range of risks, assess and prioritize which includes safety and security, regulatory compliance is aided by us.

Having a right approach helps the clients better understand the risks. The technology is helps assessing the risk to benchmark, manage and quantify the exposures in areas involved. The expertise provides holistic approach in identifying, analyzing and managing the risks.

Energy and Power:

  • We work with a range of oil and gas companies to identify and prioritize their exposures
  • We create optimal and tailored strategies so you can make informed risk decisions
  • We are recognized worldwide as one of the leaders in this sector

Life sciences:

The protection of balance sheet is done easily with dedicated veteran’s advice.

Dynamic changes in the manufacturing and automotive sectors leads to many challenges and complex risks involved. Recalling the products is heightened due to advanced technology, which leads to rise in risks related to cyber, liability and supply chain management.

Marine:

Maritime industry runs with navigation and the risks involved are analyzed by marine expertise to guide in a right way to reach the destination without any hindrances.

The marine expertise include Hull & Machinery, Specialty risks & Cargo Risks and provides innovative solutions with most integrated approach at single point of contact in no matter of time.

Real Estate:

Providing creative solutions to avoid potential financial losses and offer broader coverage, insights with industry can help you more confidently move forward.

We can draw on experts from within our business and our vast international network to augment our services and deliver comprehensive and optimal risk management solutions. Whether you are a global organization or a local company, we can help you identify, analyze, manage and control your exposures.

Retail-wholesale, Food & beverage:

A flavor of business insights and industry-leading analytics technology yields an eagle view of risks — and a composite solution to manage them.

The food & beverages are facing many challenges which include worksite safety for an employees and customers which includes quality of food served which effects the reputation of the organization. Hence you need a advisor who can identify and analyze your industry risks. So you have choose the right one to win.

Standard Fire and Special Peril Insurance:

Designed to cover loss or damage to Buildings, Plant & Machinery, Tools, Instruments and accessories, Furniture, Fixtures and Fittings, Electrical Installations, Stocks in trade including work in progress, etc due to Fire and Act of God perils. This policy is vital for all types of industry and trade groups, offices, service occupancies, households and assets belonging to all sections of the society.

Group Health

Port Package Insurance:

  • Cargo handling/Stevedoring Operations
  • Marine terminal operators
  • Warehousing operations
  • Port authorities
  • Container freight stations operators
  • Depot or air freight terminal operations
  • Equipment repair

Scope of cover

  • Liabilities for loss or damage to cargo.
  • Vessel and equipment liability
  • Removal of wreck and pollution
  • Errors and omissions
  • Fines and penalties
  • Third party liability
  • Loss or damage to owned equipment
  • Real property
  • Legal and defense Costs
  • Business interruption

Risks Coverage

The cover is All Risk (Package Policy) including Terrorism.

1 Risk Coverage – Material damage

The cover is All Risk without any exclusion.

The cover to include all material & physical damage caused by

  • Fires (with and without blaze), explosions, implosions, direct lightning, indirect lightning
  • Crash of manned / unmanned flying objects
  • Earthquake, Volcanic eruption, seaquake, tsunami, hurricanes, typhoons, cyclones, tornadoes and other convulsions of nature
  • Storm, wind, storm tide, hail, avalanche, rock slide, land slide, act of God
  • Tap water, tidewater, flooding, backwater, ground water, rain water, ice drift, water/dampness, corrosion, steam, frost, ice drifit/sampness and other types of liquid, snow damage
  • Error in construction, material defects, manufacturing discrepancies, over voltage, induction, damage through indirect lightning
  • Negligence, untrained or improper handling, operational errors
  • Intentional damage by third parties, employees, agent
  • Malicious intent
  • Strike, lockout, riot, civil commotion
  • Terrorism

The cover is for all assets including Plant and Machinery, Buildings, furniture and fixtures, office and other equipment, capital equipment, Capital work in progress and Inventories like stores and spares and/ or any items required for trade and / or business of the Telecom operations.

The cover should include the transit risk of all items moved or transported within / between any locations in India

The cover should include project / Erection insurance ( if not covered by the supplier)

The cover should include all risks during swapping of equipment between the insured locations (removal, transport, storage and fitting in the new location)

The cover should include all risks to equipment, stores, spares, etc. in warehouses all over India

2. Comprehensive Software Cover

3 Third party liabilities.

4. Business Interruption / Loss of profit cover

Aviation Insurance:

Aviation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are distinctly different from those for other areas of transportation and tend to incorporate aviation terminology, as well as terminology, limits and clauses specific to aviation insurance.

Contractors All Risk Insurance:

Covers civil construction projects above or below ground such as residential and office buildings, hospitals, schools, theatres, roads, railways, bridges, tunnels, airports, dams, weirs, irrigation and drainage facilities, canals and ports. In addition the following will also be covered:-

Preparatory work at the construction site such as site facilities, excavation and leveling work and temporary structures (e.g. access roads, diversion canals and protective embankments)

Any materials to be used in the construction work stored at the site

Contractors Plant and Machinery Insurance:

It is an important all risks policy covering principally movable plant and machinery owned or leased by the principals or contractors and used on site for various construction work, repairs & maintenance jobs or even regular site work.

Erection All Risk Insurance:

Provides a comprehensive insurance solution covering wide range of risks to which a project work is exposed to, starting right from arrival of material at site till successful testing and commissioning of the project. This policy is extremely useful for Principal owners, contractors, consulting engineers, architects and financiers because it contributes to reducing the overall construction and erection expenses and offers them protection against unforeseen accidents leading to financial losses under a single policy.

Machinery Breakdown Insurance:

It covers sudden and unforeseen damages arising from mechanical and electrical breakdowns and accidental external means to insured’s plant and machinery. This insurance policy is extremely useful to protect manufacturing industry against heavy expenses necessitated in repairing of the machinery under breakdown, thus ensuring business continuity.

Pressure Vessels Insurance:

Policy covers physical loss or damage to all types of Boilers and/or other pressure plants, where steam is being generated.

This policy covers for physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items. Damage (other than by fire) to the Boiler and/or other Pressure Plant described in the Schedule/ Damage (other than by fire) to surrounding property/Liability to Third Party due to Explosion/ Collapse – Implosion /Flue gas Explosion.

Electronic Equipment Insurance:

Used for all systems which generally require very low voltage and power. These equipments are generally quiet in their operation.

EEI Policy protects the Owner, Lessor or Hirer (where responsible either legally or through a leasing agreement) of electronic equipments.

EEI Policy is Suitable for all electronic equipments (some examples): Computer and allied peripherals/Auxilliary equipments like UPS, Voltage Stabilizer etc. Medical, Biomedical, Equipments e.g. Cath Lab, X-ray Machine, Ultrasound machines, MRI, CAT scan Machines/ Audio/Visual equipments/Electronic control panels.

Claims Consulting

Our claims expertise are positioned at best to assist you with the market knowledge and alliance to develop a pellucid resolution strategy. Extending significantly beyond the traditional scope of broker’s claims support, Emedlife has its own innovative and dynamic approach that contribute to the claim related programs.

Intimation

  • On occurrence of the claim we will intimate the claim to the respective insurers on behalf of the client and thus the claim number will be generated.
  • Arranging claim form from the insurers and supporting the insured for proper completion of details to see that the insured is adequately indemnified and details are compiled in such a way the perils occurred is as per the purview of the coverage under the insurance policy.
Group Health

Documentation:

  • Estimate preparation
  • Claim form and the other concerned documents will be collected from the insured’s office and submitted to the insurers.

Liaison:

  • Appointment of surveyor and Loss Accessors.
  • Liaising is done amidst the insurers and surveyors
  • Technical support in finalizing the survey report

Follow-up will be done for submission of survey report to the insurance company and follow-up for documentation from the insured. After submission of survey report and documents to the insurers claim processing will be done in discussion with the insurer for verifying the insurance coverage, terms and conditions, warranties of the policy In this juncture we will provide proper technical advice to the insured for preparing claim bill, claim form and all other claim related documents for adequate indemnification.. Continuous follow-up with insurance company for clarifying all their queries with our technical expertise for finalizing the claim and effecting the claim payment.

Post claim settlement evaluation: It is done on:

  • Risk coverage
  • Risk improvement
  • Sum Insured and
  • Risk GAP analysis

Regulation:

IRDA regulation for protection of policy holder’s right will be enforced in appointment of the survey, processing and payment of the claim such as

  • immediate appointment of surveyor
  • For delayed settlement of claim after submission of all claim documents the insured is eligible for bank interest plus 2 % will be recovered from the insurers and given to the insured over and above the claim amount.

Contact Us

  • Emedlife Insurance Broking Services Limited 505&506, 5th Floor Elegance Tower DDA District Centre Jasola New Delhi-110025
  • +91-11-45185500
  • +91-11-46517276
  • info@emedlife.co.in

Subscribe to Our Newsletter