ChatGTP: For those who’ve ventured into the world of AI-generated content, one truth remains undeniable: ChatGPT, while a marvel of technology, struggles when tasked with the art of writing. It’s not a well-kept secret. Anyone who’s ever asked ChatGPT or any AI writing tool to compose a blog post knows the result is often far…
Underinsurance in fire insurance explained. Learn what the Average Clause means, how claims get reduced, and how to avoid underinsurance with practical examples. What Is Underinsurance in Fire Insurance? Underinsurance occurs when the Sum Insured is lower than the actual value of the property insured.In simple words, the asset is worth more than the value…
B.V. Nagaraju vs Oriental Insurance case explained. Supreme Court ruled that minor breach without link to accident cannot justify claim rejection. The case of B.V. Nagaraju vs Oriental Insurance Co. Ltd. remains one of the most important judgments in Indian insurance law. It established a critical principle: not every breach of policy condition justifies claim…
In a significant move to address the growing cases of mental health issues, the Insurance Regulatory and Development Authority of India (IRDAI) has taken proactive steps to enhance mental health coverage in health insurance policies. In October 2022, IRDAI mandated all health insurance policies to cover mental illness, but the progress was slow. As a…
What does the SFSP policy cover? This article breaks down the SFSP Policy Covered Perils—from fire and lightning to storms and explosions—so you know what’s protected and what’s not! The Standard Fire and Special Perils (SFSP) Policy provides protection for property and assets against fire and specific named risks. However, since it is a named…
Date: May 30, 2023 In a commendable display of emergency response, the fire and safety department personnel at Numaligarh Refinery Limited (NRL) swiftly brought a widespread fire under control on Monday evening. The incident occurred at the Hydrocracker unit of NRL, located in Assam’s Golaghat district. Upon receiving the alarm, fire tenders and NRL’s dedicated…
Cyber Insurance: In our interconnected world, where technology and data fuel our daily lives, the threat of cyberattacks and data breaches has become a pressing concern. As cybercriminals employ increasingly sophisticated techniques, individuals and organizations must take proactive steps to protect themselves. Thus insurance plays a crucial role and Cyber insurance has emerged as a…
