If I have a learner’s licence and the car meets with an accident, will the insurance company admit the Rclaim?
Yes, the claim will be payable subject to certain conditions:
a. While driving, the person should have been accompanied by someone with a valid driving licence.
b. The vehicle should have a legible ‘L’ board.
Do all credit cards come with a personal accident policy? There is no mention of such cover for my three cards. What is the scope of this cover?
All credit cards may not come with a personal accident policy which is determined by the issuing bank. Some banks provide information about the insurance cover on their websites and one can visit the website to understand its scope.
Is there a cover for doctors regarding professional errors? What is the scope of the cover?
Yes, there is one available for doctors. With increasing awareness among patients of their legal rights, there is an increased risk of doctors facing legal action for any error or negligence in rendering professional services. The professional indemnity provides coverage against any legal claims arising out of negligence or error in providing services by the insured doctor which results in bodily injury, death, sickness or disability of the patient. The policy covers any legal award by a court or any out-of-court settlement. There is also a provision in the policy which covers legal costs of the insured doctor. Some of the major exclusions under this policy are criminal acts, cosmetic surgery, use of prescription drugs for weight reduction, any condition related to HIV, services rendered under the influence of alcohol and any punitive or exemplary damages.
I have a plot at the outskirts of the city. Is there a policy that can cover me for possible encroachments?
Land encroachment per se is not covered under any policy. If there is a possible encroachment on the land, it is a kind of risk which will not fall within the purview of insurance. It is a law and order situation and has to be dealt with accordingly. Any construction or any asset created on the land can however be covered under various general insurance policies such as fire, burglary, etc.
The writer is MD & CEO, ICICI Lombard. Send your queries to yourmoney@bsmail.in