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Corporate Insurance

About Corporate Insurance
Corporate insurance is a type of insurance which covers various operational risks like theft, financial losses, employees’ health benefits and accidents for large corporate organizations. It is also known as ‘business insurance’ and is highly beneficial for the companies and their employees. It is extremely valuable in terms of individual’s limited liability for business debts. This plan also has certain limits such as the officials, employees and officers can be held liable for personal actions which are not covered by the policy. Companies evaluate their insurance requirements based on potential risks to the firm, which can differ depending on the type of environment in which it functions.
Benefits of Corporate Insurance
  • The insurance provides coverage for the bodily injuries caused by the business operations to any of its employees.
  • The policy protects the insured corporation from financial loss caused due to serious disasters.
  • It helps to protect the business, shareholders and every customer attached to it, if the business suffers due to an unfortunate event.
  • It offers coverage for the damage to other party’s property caused by the insured company’s business operations.
  • It covers for the legal liabilities when the corporation violates copyright rule of some other business leading to copyright infringement disputes.
  • The policy covers for the investigation and attorney expenses, when a lawsuit is filed against any damages caused by the business corporation.
Types of Corporate Insurance
Property InsuranceProfessional Liability InsuranceGroup Health InsuranceWorkers’ Compensation InsuranceProduct Liability InsuranceBusiness Interruption Insurance
If the property of the corporation gets damaged by some unfortunate events such as natural calamity, fire, smoke, vandalism, civil disobedience, etc. property insurance helps cover the losses. All-Risk policies cover for all types of incidents with an exception of few specific ones. Another type of plan known as peril-specific policies cover for only those losses that are listed in the policy.

Also, known as Errors and Omission (E&O) Insurance, protects the corporation from all types of negligence claims and certain mistakes from clients. Every industry has their own concerns which is attended through an industry-specific customized policy. Companies in the field of law, insurance, healthcare, finance, consulting and accounting must have this type of insurance
This is one of the most important insurance which offers healthcare benefits to the employees of a corporation. This offers equal benefits to all employees of the group and helps in availing significant tax benefits.
It covers the medical expenses of the employee and provides compensation in case of unfortunate disability or death of the employee while serving for the organization.
It is an important insurance for the corporation which manufactures products for sell in general market. If the product causes damage to someone then the corporation might result in naming itself in a lawsuit.  Therefore, this policy helps protect a business in such cases.
There are some specific events and occurrences which disrupt the normal course of the business. This insurance helps cover the losses some individual faces in the interruption period. Retail stores or the business which needs physical presence to get in touch with the customers are the best examples for this type of insurance