AGRICULTURAL INSURANCE Studies are in progress to make agricultural insurance compulsory by establishing pools. GENERAL THIRD PARTY LIABILITY INSURANCE The Hospitality Industry comprising Hotels and Restaurants are obliged to go for compulsory coverage of Public Liability Insurance since 2007, mandatory for licensing purposes. MOTOR THIRD PARTY LIABILITY Statutory obligation is imposed for purchasing Motor Third Party Liability Insurance. PROFESSIONAL INDEMNITY Statutory obligation is imposed on Insurance Brokers for Professional Liability cover. Professional Indemnity for Architects and Engineers and Medical Malpractice are under consideration for being made compulsory. PROPERTY INSURANCE Discussions are on to create pools for compulsory Earthquake insurance for domestic buildings. WORKMEN'S COMPENSATION INSURANCE Cover provided by the State through the Social Security Corporation. Insurance Companies usually issue policies covering only the gap between the Labour laws and Social Security laws, or covering welfare benefits on a voluntary basis. |
Join Our Discussion |
|
