Businesses face a wide range of risks — from fire and theft to liability claims and employee accidents. The right corporate insurance cover protects your assets, operations, and people.
Below is a guide to the key corporate insurance policies available through Navnit Insurance.
Despite the name, this policy covers far more than fire alone. It is a comprehensive umbrella policy protecting businesses against a wide range of risks.
Perils covered as standard:
Optional add-ons include Earthquake cover, Terrorism cover, and a range of additional extensions to suit your business needs.
Burglary insurance covers losses caused by unlawful entry into your business premises with the intent to commit theft or another crime.
For businesses, burglary cover is usually included as part of a broader commercial insurance package rather than purchased as a standalone policy.
The Industrial All Risk policy is a comprehensive package designed for large industries. It covers almost all risks and perils a business may face during operations.
What is covered:
CAR insurance is designed for construction and civil works projects. It protects against physical loss, destruction, or damage during the course of a construction contract.
It can be taken as annual cover for contractors or as project-specific cover for individual contracts. Both the Contractor and Employer can be covered depending on who bears contractual responsibility.
A Marine Open Policy provides blanket cover for all goods transported by sea, road, rail, or air over a stated period.
The insured periodically declares the description, quantity, and value of goods shipped. Also known as open cover, it is ideal for businesses with regular, ongoing cargo movements.
A Marine Specific Policy covers a single voyage or transit only. It must be issued before the voyage begins and ceases on completion.
The policy must include full details: vessel name, bill of lading or waybill, sum insured, terms of cover, voyage route, and cargo description.
Marine Hull cover protects against loss or damage to the vessel itself — including ships, tankers, bulk carriers, smaller vessels, fishing boats, and sailing vessels.
D&O insurance protects directors and officers of a company against legal action arising from alleged wrongful acts in their professional capacity.
What it covers:
Intentional illegal acts are typically excluded. D&O cover has become a core part of broader management liability insurance for corporate clients.
Professional Indemnity insurance protects your business if a client claims your advice or services caused them a financial loss.
Even if you have made no mistake, defending a claim can be costly. PI cover is essential for any business that provides professional advice or services to clients.
CGL is a standard policy protecting businesses against third-party liability claims for bodily injury and property damage arising from:
CGL policies are written on standard industry forms and any ambiguities are generally interpreted in favour of the policyholder.
A surety bond is a three-party agreement between an insurer (Surety), a project owner (Obligee), and a contractor (Principal).
The insurer guarantees that the contractor will fulfil their contractual obligations. If they do not, the insurer compensates the project owner — and recovers the amount from the contractor. Bonds typically cost 0.5% to 3% of the bond amount.
Common types of surety bonds:
Group Medical Cover is purchased by an employer and offered to all eligible employees — and often their families — as a workplace benefit.
Key advantages include:
GPA cover protects employees against accidental injury or death — cushioning the impact on both the employee and the business when the unexpected happens.
Unlike individual personal accident cover, the employer pays the premiums on behalf of all employees. Benefits can be structured as a fixed sum per person or as a multiple of the employee's earnings.
