Future generali insurance project profile.doc.xlsx.docx

7/28/2019 Future generali insurance project profile.doc.xlsx.docx

1/56

CHAPTER1

THEORETICAL FRAMEWORK


2/56

1. (a) Topic Related Concepts:

Underwriting is an agreement, entered by a company with a financial agency, in order toensure that the public will subscribe for the entire issue of shares or debentures made by

the company. The financial agency is known as the underwriter and it agrees to buy that

part of the company issues which are not subscribed to by the public in consideration of a

specified underwriting commission. The underwriting agreement, among others, must

provide for the period during which the agreement is in force, the amount of underwriting

obligations, the period within which the underwriter has to subscribe to the issue after

being intimated by the issuer, the amount of commission and details of arrangements, if

any, made by the underwriter for fulfilling the underwriting obligations. The underwriting

commission may not exceed 5 percent on shares and 2.5 percent in case of debentures.

Underwriting has become very important in recent years with the growth of the

corporate sector. It provides several BENEFITS to a company:-

It relieves the company of the risk and uncertainty of marketing the securities.

Underwriters have an intimate and specialized knowledge of the capital market.They offer valuable advice to the issuing company in the preparation of the

prospectus, time of floatation and the price of securities, etc. They also provide

publicity service to the companies which have entered into underwriting

agreements with them.

It helps in financing of new enterprises and in the expansion of the existingprojects.

It builds up investors' confidence in the issue of securities. The issuing company is assured of the availability of funds. Important projects are

not delayed for want of funds.

It facilitates the geographical dispersal of securities because generally, theunderwriters maintain contacts with investors throughout the country.


3/56

TYPES OF UNDERWRITING

Syndicate Underwriting: - is one in which, two or more agencies or underwritersjointly underwrite an issue of securities. Such an arrangement is entered into when

the total issue is beyond the resources of one underwriter or when he does not

want to block up large amount of funds in one issue.

Sub-Underwriting:- is one in which an underwriter gets a part of the issue furtherunderwritten by another agency. This is done to diffuse the risk involved in

underwriting.

Firm Underwriting: - is one in which the underwriters apply for a block osecurities. Under it, the underwriters agree to take up and pay for this block of

securities as ordinary subscribers in addition to their commitment as underwriters.

UNDERWRITER

The term underwriter is used in a variety of businesses and industries, but it primarily

refers to a person or firm who is responsible for assessing and assuming financial risks on

behalf of another firm or individual. Underwriters work for investment banks and

insurance companies, but they are also individuals who are financially responsible for

sponsoring events. Essentially, underwriters receive special terms or benefits for their

participation in events or business ventures.

To act as an underwriter, a certificate of registration must be obtained fromSecurities

and Exchange Board of India (SEBI) . The certificate is granted by SEBI under the

Securities and Exchanges Board of India (Underwriters) Regulations, 1993 . These

regulations deal primarily with issues such as registration, capital adequacy, obligation

and responsibilities of the underwriters. Under it, an underwriter is required to enter into a

valid agreement with the issuer entity and the said agreement among other things should

define the allocation of duties and responsibilities between him and the issuer entity.

These regulations have been further amended by theSecurities and Exchange Board of

India (Underwriters) (Amendment) Regulations, 2006.

TYPES OF UNDERWRITERS
http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/UnderWriter.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/UnderWriter.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/uwamend.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/acts/UnderWriter.htmlhttp://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/http://business.gov.in/outerwin.htm?id=http://www.sebi.gov.in/


4/56

ROLE OF UNDERWRITERS

The primary role of the underwriter is to purchase securities from the issuer andresell them to investors.

Underwriters act as intermediaries between issuers and investors, providing foran efficient of capital.

The underwriters take the risk that it will be able to resell the securities at a profit. Perhaps the most visible and familiar element of the initial public offering process

is the underwriter. The underwriter is the organization that is actually

responsible for pricing, selling, and organizing the issue, and it may or may not

provide additional services. With direct public offerings, there is no need for an

underwriter.

Selection of a good underwriter is of the utmost importance, but it's important to

understand that many underwriters are equally selective of their clients. Because

an underwriter's reputation depends on successful issues, few firms will be willing

to stake their reputation on questionable companies.

When selecting an underwriter, it's important to seek out an established companywith a good reputation and quality research coverage in your field. The decision

NON-INSTITUTIONALINSTITUTIONAL

LIC, UTI, ICICI,IDBI

COMMERCIALBANKS

GENERALINSURANCECOMPANIES

BROKERS


5/56

may also depend on the kind of agreement the underwriter is willing to make

regarding the sale of shares. For profitable and established private companies, it

shouldn't be difficult to locate an underwriter willing to make a firm commitment

arrangement. Under such an agreement, the underwriter agrees to buy all issues

shares, regardless of ability to sell them at a particular price.

For riskier or less established companies, an underwriter may offer best effortsarrangement for the initial public offering. A best efforts contract requires the

underwriter to buy only enough shares to fill investor demand. Under this

arrangement, the underwriter accepts no responsibility for unsold shares.

Aside from fees and sales arrangements, most underwriters are fairly similar intheir roles. An underwriter will assist in the preparation and submission of all

appropriate SEC filings, helping potential investors make informed decisions

about your offering. All underwriters are required to exercise due diligence in

verifying the information they submit, so a certain amount of investigation should

be expected from any responsible underwriter.

In addition to SEC registration filings, the underwriter will create a preliminaryprospectus that will become a major part of the issue's marketing campaign. This

document is also referred to as the red herring, after a small red passage in the

document that states that the company is not attempting to sell shares prior to SEC

approval.

Once SEC approval is obtained, the underwriter and the corporation will embark

on a road show to gauge and attract interest from investors. While the road showdoes not involve getting binding commitments from investors, it helps the

underwriter determine the best strategies for pricing and issuance.

Basics of Financial analysis: As stated else where the two basic financial statements are the balance sheet and

the income statement. They constitute the primary source of information for


6/56

financial analysis.

A balance sheet depicts what is owned and owed by a business on a particular date. A snapshot of the firm/cos financial position is also called as the statement of

financial position .

Assets , liabilities and equity capital (owned funds) are the three main componentsof balance sheet . The relationship among these components is given by the

accounts equation:

Assets = Liabilities + capital . Assets is something owned. The properties and property rights a business owns

are its assets . By convention they are arranged in the descending order of

liquidity .

A liability is something owed. Liability are represented by the creditors interest inthe the assets. They are arranged in the order of their of maturities.

Equity is the interest of the business in their assets. It is the residual interest afterthe creditors interest has been satisfied. The owners equity is the difference

between the total assets and total liabilities . it is also called the net worth.

The two formats used to for the balance sheet are the account or the traditionalformat and the columnar or vertical format. The account form is the traditional

type of the format and the columnar or vertical format . The account from is the

traditional type of the format listing the assets on the left hand side and liabilitieson the right hand side. In the columnar form the balnce sheet is drawn vertically.

The assets are listed on the top and the liabilities at the bottom .

While attempting the analysis of a balance sheet one inherent limitation in itshould be at the back of ones mind the statement is drawn at the point of time

and therefore it could be mislead. Fluctuations there after could cause significant

variation from the position reported on the date of balance sheet .


7/56

The balance sheet can also be manipulated to enhance the position of the businessat any point . For example the current ratio can be improved by repaying the short

term liabilities just before the balance sheet date . the current ratio can be

improved by repaying the short term liabilities just before the balance sheet date.

The current ratio is current assets divided by current liabilities.

With repaying the debt the denominator in the equation current assets / currentliabilities decreases there by increasing the ratio.

If a company has current assets of Rs. 10 lakh and current liabilities of Rs7,50,000 before repayment of debt, The current ratio is debt, The current ratyio is

1.33:1(10,00,000/7,50,000). The company has 1 lakh cash and uses it to repay the

debt. Resultantly , the current ratio is 1.33:1 (10,00,000/7,50,000). The company

has 1 lakh cash and uses it to repay the debt. Resultantly, The current ratio

increases to 1.38:1(9,00,000/6,50,000) . The practice resorted to, although legal, is

termed as window dressing and considered unethical.

Compared to a single period balance sheet a comparative balance sheet is morevaluable. It compares two balance sheets and prepared by placing two balancesheets and income statements from two time periods side by side. By an analysis

of the change from one balance sheet to another one finds out whether the

company is gaining or losing the financial strength . Financial statements often

contain 3 to 5 years , summary of the balance sheet data.

The under writing has to familiarize himself with the format and classification othe balance sheet. Once this is achieved he can start interpreting data can develop

answers to a number of underwriting questions.

The underwriting can make use of techniques such as trend analysis where aninternal comparison could be made with financial statements of the earlier years.

Exernal comparison could also be resorted to be comparing the financial

statements of the client company with that of the industry or similar companies in

the industry.

Classification of the balance sheet:


8/56

Assets: The two major classifications of assets are current assets and non currentassets ( Land building plant machinery )

Current assets comprise of cash and other assets that are expected to be convertedinto cash within a period of one year from the date of balance sheet . In the balce

sheet the current assets are normally stated in the order of their liquidity say:

Cash Marketable securities Receivables Inventories Prepaid expenses Cash being the most liquid of the assets is listed first and includes not only

currency notes and coins but also cash equivalents such as cheques, Bank DDs,Demand deposits in the banks etc.,

Marketable securities are liquid instruments. These can be converted into cashwithout any difficulty. The surplus funds of the company are deployed in the

market securities

Receivable or debtors or book debts are the amounts owed to the company by thecustomers by the customers and outsiders.

Inventories include the finished goods ready for sale to the customer . They alsoinclude raw materials works in progress or process.

Prepaid expenses are the amounts that are paid in advance for the services thathave not been received or usedfor example prepaid rent or prepaid insurance.

The non current assets which include fixed assets (land, building and


9/56

machinery)are the assets that are more permanent in nature and have a useful life

more than one year. These assets are used in business operations and are not

meant to sale the customers.

Land is shown at its original cost . it has a permanent life and deprecitiated. Onthe contrary, buildings, machines and equipments are valued at their original cost

less than accumulated depreciated.

Depreciation is non cash expense. It enables the spreading of the cost of an assetover a given number of years depending on its useful life, instead of charging the

entire cost of an asset to any one year as an expense. The total of such amount

expensed up to date of balance sheet is accumulated depreciation.

The financial statements depict the amount depreciation . This is different fromphysical depreciation which is the actual cost value (market vbalue of an asset for

insurance purposes. It is wear Tear of an asset over a period of time. There is no

relation ship between both of these depreciations.

An under writer approach to fixed assets is different from that of financialstatements.

The under writer is more concerned with the valuation of the asset because he promises

To pay the actual cash vaue or replacemernt cost incurred of the insured machinery.

Investments are non current assets which are held for a considerable long periodor for some designated purposes For example investments in shares or

debentures of another company, Investments for a special purpose such as penson

funds.

In tangiable assets are assets that have no physical existence but are valuable tothe company /organization for example , investments in shares or debentures of

another company , investments for a special purpose such as pension funds.

Intangiable assets that have no physical existence but are valuable to the company/organization. For example , patents , goodwill, copyrights, etc. the treatment of

the assets are different For example, good will becomes relavant only when the


10/56

company is being acquired or being merged with the another company. It is the

excess price over and above the book value is based on the valuation of all

tangiable net assets of the company.

Other assets are those assets that cannot be classified under any of the aboveheads for example , miscellaneous funds kept for special purposes, employee

insurance funds, amounts receivable from the employees.

Liability: The liabilities of a company are generally depicted on the right hand side of the

balance sheet. The two major classifications are current liabilities and non current

liabilities.

Current liabilities are the amounts due and which are to be repaid with a period oone year from the date of balance sheet. Examples of current liabilities include

creditors for trade , creditors fro expenses, account payable provisions for income

taxes or other taxes.

Amounts which are repayable or due over a period of one year from date obalance sheet are referred to as non current liabilities. Term loans, debentures,

unsecured loans , bonds that are the types of liabilities which come under this

head.

Net worth: It is the difference between toatal assets and liabilities as on the date of

balance sheet. It represents the owners stake in the business. The owners equity differs as

per the constitution of the company (proprietorshipfirm, partner shipo limited company.

The capital is the amount of the share holders contribute to the company.

The capital amount of share holders to the business by purchasing shares. Shares are often

sold at premium. The excess value over the par value is kept in separate account called

the share premium account.

Retained earnings are also a part of the equity and represent the accumulated and

undistributed earnings of the company.

Income statement: Also called a profit and loss statement, it summarizes the results of a

company over a period of time , say one year. It details the income and various expenses

incurred during the year. Profits are the excess of totals revenues over the total


11/56

expenditure. If expenses exceed the income, the company incurs loss.

An underwriter must understand the relationship between the profit and loss statement

and the balance sheet. In the absence of dividend, a net profit increases the net worth. If

the company incurs a loss, the net worth or the owners equity decreases.

The starting point in income statement is the gross sales. Net sales follow the gross sales

and represent the gross sales, less returns and excise duty.

The next item is the cost of sales. It represents the cost incurred by the company for the

production of goods and services. The next sales minus (-) the cost of sales gives the

gross margin on sales often referred to as gross profit.

After deducting the operating expenses from the gross profit , we get the figure of

operating income. It depicts the income from the normal operations of the business during

priod mentioned in the statement.

Listed below the operating income are the other income and expense item. These are the

items not related to the primary business activity of the company. For example: interest

from investments, dividends, rents royalties etc.,

The operating income after adjustments for the other income and expenses is called the

net income . This is before tax and often referred to as profit before tax (PBT). The figure

after tax and other deductions is called profit after tax (PAT) or net income after taxes.

The last step is the appropriation of profits to dividend, The balance amount going to

boost reserves. The income statement statement could be in the form of a multiple steps

format, which is used widely or in a single step format where the total expenses are

deducted from the total revenues to arrive the next income after the taxes.

Financial statement analysis:

To guage the financial health of company and to search for underwriting information, the

under writing examines the financial records of company. By themselves, the financial

statements are of limited use. To transform the statements into useful sources o

information, several tools are available namely (a) Internal and external comparison (b)

Percentage analysis and vertical statement analysis (c) Ratio analysis.

With the help of the above tools , the underwriters evaluate the financial data of the

insured by comparing it with a specific standard (benchmarks). The bench marks could

includethe past performance of the company (trend analysis) and the performance of the


12/56

other companies in the same industry (industry analysis)

A financial statement in isolation (absolute terms) does not through much light. However

a comparision between two financial statements helps in drawing valid conclusions. For

example , take the case of the company which for the previous three years had turned at a

consistent net profit of Rs 15mn and shows acurrent net income figure of Rs.3n.

The inference from the under writers point of view could be possible moral or morale

hazard or financial detoriation. On the contrary, if the profits in the previous years were

consistently Rs2mn, the current net profit figure of 5mn will point towards (a) strength

and growth

(b) reduced possibility of moral hazard (c) Some non recurring transaction that has

boosted the income in the current year.

Similarly non moving obsolete and damaged inventory could point towards moral hazard.

A comparison between two financial statements can be attempted by arriving at the year

over year (YOY) growth or decline percentage. This method of trend percentage helps in

giving useful insights into developments that are favorable or unfavorable over a period

of time. This method is often referred to as internal comparison.

On a different footing is a method of external comparision . In this method comparision is

made between the financial statements of two companies of the same size. This method is

also referred to as vertical analysis or common size. This method is also referred to as

vertical analysis or common size. This method is also referred to as vertical analysis or

common size or common size statement analysis.

The above financial tools are useful for interpretation of the accounting information

provided by the insured. They help the underwriter to make comparisions between the

current operations of company with certain performance standards, there by enabling him

to conclusions from the information provided.

Accounting information from alternate sources:

Besides financial statements underwriting also relay on other supporting sources of data.

These sources of the data can supplement the financial statements and help the

underwriters gain a thorough understanding of a particular risk.

Annual report:

Financial statements get enhanced by the vital information provided in an annual report.

The report gives a back drop of the company and its growth plans. It also contains

summary of the previous years operations. A description of the management plan for the


13/56

company ably supported for charts , graphs and ratios provide the underwriter a greater

understanding of the financial data.

These reports have to be taken with a pinch of a salts as they are often biased on the

favour of the company. The statement of the top management depicts a more optimistic

prediction of the future. The underwriter can however gain useful insight into the

financial condition of the company by viewing the annual report.

The prospectus:

A prospectus is another supplementary source of financial information for the

underwriting. A registered document issued by the company at time of floating a new

public issue it is to be filed before the securities exchange board of (SEBI).

It provides a good amount of legal financial , legal and technical information for the

underwriter. A registered document issued by the company at the time of floating a new

public issue, it is to filed before the securities exchange board of India (SEBI).

It provides a good amount of financial, legal and technical information about the

company .

However , one disadvantage about the prospectus is that is prepared only at the time of

floating a new issue.

Other sources of information:

Companies registered with the SEBI should also publish quarterly financial reports. They

are not as detailed as annual reports and many some times not be audited. However, they

provide the latest information about the company. Press reports about the company also

provide financial information to the underwriter.

Shortcomings :

Underwriters make internal and external comparisons with the help of financial

statements Internal comparison is comparison with the past financial statements of the

company for two or three years. External comparison is with other companies in the same

line and of similar size.

comparisons do have their short comings. It could be on account of variation in the

accounting methods deployed (straight line method of depreciation by one company and

written down value method by another company. The difference could also be on the

account of different valuation methods for inventory (LIFO method by one company and


14/56

by FIFO method by another company).

These accounting methods are normally indicated in the notes to the financial statements.

These notes are important part of the financial statement and underwriters should

necessarily go through the same before attempting any financial statement analysis.

Audited vs unaudited statements:

Auditing extends credibility to the financial statements. The audited financial statements

are accompanied by an audit report prepared by an independent chartered account. The

report gives a professional opinion about the fairness of the company statements.

Underwriter should always go through the auditors report in detail. The opinion of the

auditors could be of three types. (a) unqualified (b) qualified and (c) Adverse. It should

be kept in mind that the auditor gives his opinion on only on the financial statement and

not on the annual report.

An unqualified opinion gives a clean chit to the company. It indicates that the financial

statements have been examined and represent fairly financial position of the company.

Wherever the auditors remarks are with minors exceptions , the opinion is said to be

qualified. When the financial statement do not fairly present the financial position of the

company.

Wherever the auditors remarks are with minor exceptions, the opinion is said to be

qualified. When the financial statement do not fairly present the financial position of a

company, the opinion is said to be adverse. The auditor may have to provide ample

ustification for his conclusion.

Ratio analysis : An important tool in the study of the financial conditions of an account

is the ratio analysis.( By using the data found in the account records of a company ratio

analysis relates two or more of the items to one another) the result so obtained can be

compared with the result of the previous accounting period of the same company (internal

comparision) or similar companies of the same size (external comparision).

There are scores of ratios, but only few may be needed for conducting a specific analysis

of the company. For proper identification of ratios useful to them, the underwriters

should not losse their prespectivethe main purpose being the search for any information

that helps in making an underwriting decision .

The objective of the ratio analysis from the underwriters point of view is to indicate.


15/56

a. Potential moral and morale hazardsb. Ability of the insured to pay the premiac. Finacial soundness of the managementd. Expected growth and the expectations from the

underwriters stand point

As indicated else where, the ratios by themselves mean less numbers. To make them

more purposeful, comparisons with some benchmarks and guide lines are inevitable. As

stated else where the comparisions could be internal with the past years. It could also be

external within the industry with similar companies or average industry trend.

For convenience, ratios are classified into four basic groups:

1. Liquidity ratios: They measure the capacity of the company to pay shorterliabilities/ debts.

2. Levarage ratios: They measure the extent to which the company is indebted/levarged or geared .

3. Activity ratios: These ratios measure the asset handling capacity of the company .4. Profitability ratios: these ratios measure the performance of the company.


16/56

ABOUT THE COMPANY:

Future Generali is a joint venture between the India-based Future Group and the Italy-

based Generali Group.

Future Generali is present in India in both the Life and Non-Life businesses as Future

Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

FUTURE GROUP:

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of

Indias leading business houses with multiple businesses spanning across the consumption

space. While retail forms the core business activity of Future Group, group subsidiaries are

present in consumer finance, capital, insurance, leisure and entertainment, brand

development, retail real estate development, retail media and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million

square feet of retail space in 71 cities and towns and 65 rural locations across India.

Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is

listed on the Indian stock exchanges. The company follows a multi-format retail strategy that

captures almost the entire consumption basket of Indian customers. In the lifestyle segment,

the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls.

In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines

the look, touch and feel of Indian bazaars with the choice and convenience of modern retail.

The groups specialty retail formats include sportswear retailer, Planet Sports,

electronics retailer, eZone, home improvement chain, Home Town and rural retail chain,

Aadhaar, among others. It also operates popular shopping portal,www.futurebazaar.com.

Future Capital Holdings, the groups financial arm, provides investment advisory to

assets worth over $1 billion that are being invested in consumer brands and companies, real

estate, hotels and logistics. It also operates a consumer finance arm with branches in 150

locations.

Other group companies include, Future Generali, the groups insurance venture in

partnership with Italys Generali Group, Future Brands, a brand development and IPR

company, Future Logistics, providing logistics and distribution solutions to group companies

and business partners and Future Media, a retail media initiative.
http://www.futurebazaar.com/http://www.futurebazaar.com/http://www.futurebazaar.com/http://www.futurebazaar.com/


17/56

The groups presence in Leisure & Entertainment segment is led through, Mumbai-

based listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports

Bar and Bowling Co. and family entertainment centers, F123. Through its partner company,

Blue Foods the group operates around 100 restaurants and food courts through brands like

Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato.

Future Groups joint venture partners include, US-based stationery products retailers,

Staples and Middle East-based Axiom Communications. Future Group believes in developing

strong insights on Indian consumers and building businesses based on Indian ideas, as

espoused in the groups core value of Indianness. The groups corporate credo is, Rewrite

rules, Retain values.

THE GENERALI GROUP:

The Generali Group is a leading player in the global insurance and financial markets.

Established in Trieste in 1831, today the Group is one of Europes largest insurance providers

and the European biggest Life insurer. It is also one of the worlds top asset ma nagers with

assets totaling more than 400 billion. With an employed sales force of more than 100,000

people serving 70 million clients in 68 countries, the Group occupies a leadership position in

Western Europe and an increasingly important place in Eastern Europe and Asia.

The Group strategy aims to consolidate Generalis pre-eminence on its key markets

and achieve a premier position on markets with high growth potential, establishing its

leadership in profitability.

IDENTITY CARD:

Since its establishment, the Generali Group has always held a reputation for its capital and

financial strength. Its solidity derives from prudent investment management and a focus on

achieving a correct match between risk and medium/long-term profitability.

Generali Group is one of the leading insurance groups in Europe, with a 2009 totalpremium income of more than 70 billion

It is present in 68 countries It has 70 million clients worldwide It has 85,322 employees (15,956 in Italy) It has over 400 billion of assets under management High rating assigned by the international rating agencies: A.M. BEST: A+ STABLE Standard & Poors: AA- STABLE


18/56

Fitch Ibca: AA- NEGATIVE Moodys: Aa3 STABLE

Vision Statement:

"Pledged to provide financial security to all people & enterprises through total insurance

solutions"

Values:

Respect: for all our stakeholders- employees, customers, for all rules and regulationsboth internal and external.

Indianness: We understand India in all its diversity and different facets and will usefor our local understanding to respond to our specific markets, design our products

and craft our processes.

Nimbleness: A combination of speed and quality, and ability to overcome allobstacles which come in the way of the achievement of our vision.

"Can Do: An attitude which demonstrates our passion, entrepreneurship, andpositive thinking.

Positioning

Knowledge Organization with Leadership Approach One Stop Total Insurance Solutions & Services Provider Customer Centric Model embracing Passion, Convenience and Service Excellence

Objective

To provide superior customer service through our knowledge-based business partners and

employees supported by innovative products and services.

Family DNA

Pioneering spirit Passion for clients Responsibility Respect Integration Professionalism Transparency Indianness Visionary Lifetime learning


19/56

Products:Retail Products

Motor Motor Suraksha Motor Add-on

Accident & Health Future Accident SurakshaFor Individuals & Family Health SurakshaFor Individuals & Family Future Criti-careFor Individuals & Family

Travel Travel Suraksha

Individual Travel Plan Multi- Trip Plan Asia Travel Plan Superior Care Plan Schengen Travel Home

Future Home SecureCommercial Products

Business Suraksha For Shopkeeper For Office Education Institutes For Housing Societies Hotel & Restaurants

Corporate Products

Fire Standard Fire & Special Perils Policy Fire Loss of Profit

Industrial All Risk
http://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HomeInsurance/FutureGeneraliHomeSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HomeInsurance/FutureGeneraliHomeSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/LossofProfitsPolicy/LossOfProfitsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/IndustrialAllRisk/IndustrialAllRisk.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/IndustrialAllRisk/IndustrialAllRisk.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/LossofProfitsPolicy/LossOfProfitsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Fire/StandardFireandSpecialPerilsPolicy.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/CommercialProducts/BusinessSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HomeInsurance/FutureGeneraliHomeSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HomeInsurance/FutureGeneraliHomeSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/TravelInsurance/TravelSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/PersonalAccidentInsurance/FutureAccidentSuraksha.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/MotorInsurance/Motor.aspx


20/56

Engineering Insurance Erection All Risk Contractors All Risk Machinery Breakdown Contractors Plant & Machinery Boiler & Pressure Plant Electronic Equipment Machinery Loss of Profits

Marine Cargo Insurance Accident & Health

Group Health Insurance Group Personal Accident

Liability Public Liability (Industrial) Public Liability (Non Industrial) Products Liability Directors & Officers Liability Errors & Omissions Commercial General Liability Workmens Compensation

Miscellaneous Burglary Money

Rural Products

Rural Products Cattle & Livestock Poultry Other Animals Camel Dog Elephant Horse Agricultural Pump-set Farmers Package
http://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/MarineCargoInsurance/MarineCargoInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/RuralProducts/RuralProducts.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Miscellaneous/Miscellaneous.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/Liability/Liability.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/AccidentAndHealth/AccidentandHealth.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/MarineCargoInsurance/MarineCargoInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspxhttp://www.futuregenerali.in/GeneralInsurance/CorporateProducts/EngineeringInsurance/EngineeringInsurance.aspx


21/56

Future Secure Motor Insurance:

The difference between driving safe and driving secure. You stop at every signal; youslow down when you are supposed to, and follow every rule to the letter. Unfortunately, your

vehicles fate doesnt depend on you alone. Future Motor Suraksha takes care of any damage

your vehicle might suffer. This plan, which is in its first year of operations; overs everything,

including third party expenses. So now when you drive, rest assured; we take just as much

care of your car as we do of you.

Types of Motor Insurance Solutions:

Private Car Insurance Two Wheeler Insurance Commercial Vehicle Insurance

Benefits

Instant policy issuance Toll-free assistance number for customer service and claims registration Prompt and timely claims survey Cashless / direct settlement at our approved workshops Claims finalization within seven working days from receipt of all documents Accidental towing assistance (within city limits only) Automated renewal reminder service

Private Car Insurance/Two Wheeler Insurance:

Coverages

Vehicle damage: This benefit covers any damage to your vehicle on account of anaccident, burglary, theft or housebreaking. It also protects your vehicle against

damage due to fire, lightning, self-ignition, explosion, riot, strike, malicious act,

terrorism, earthquake, flood, cyclone and inundation. This cover encompasses

protection against any damage caused to your vehicle while in transit by road, rail, air,

elevator and lift

Third party liability: This benefit protects you against any third party liability that youmay incur due to the death of, or bodily injury to, any person; or damage to property.

The policy also covers the legal expenses you might incur to defend this claim. This is

a mandatory insurance coverage for your vehicle


22/56

Additional coverages

1. Personal accident cover:The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for

individual owners of the vehicle while driving. This is not applicable for a Company owned

Vehicle. You can also opt for a personal accident cover for passengers (named or un-named)

up to a maximum Capital Sum Insured of Rs. 2 lacs per person

Available only if the owner of the vehicle holds a valid driving license.2. Additional Legal liabilities:

The following additional legal liabilities may also be opted for at an additional premium

Paid Driver/conductor/Cleaner employed in operation of vehicle. Employees traveling in/driving the vehicle other than paid driver. Non-fare paying passengers

Bonus and Discounts:

No Claim Bonus: If you do not make a claim during the policy period, a No ClaimBonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will

only be allowed provided the policy is renewed within 90 days of the expiry date of

the previous policy.)

Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shiftyour motor insurance policy to another company.

Voluntary Excess discount: A further discount on the premium is available if youopt for a Voluntary Excess (available only for Private cars and two wheelers) in

addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which

the insured has to bear in each and every claim.).

Automobile Association Membership: You can also avail of additional discount ifyou are a member of a recognized Automobile Association in India (available only for

Private cars and two wheelers).

Anti-theft devices: In case you have installed an ARAI approved anti theft device inyour vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs.

500 for four-wheelers and Rs 50/- for two wheelers

Motor Add on:


23/56

With growing needs and dynamic external factors, the regular car insurance is nolonger sufficient. Future Generali offers you unique Add on covers for additional

protection to your vehicles

1. Depreciation CapThis cover offers full claim without any deduction for depreciation on the value of parts

replaced. The cover is available for vehicles up to 3 years old and operates for maximum 2

claims during the policy period.

2. IDV comprising of On Road PriceThis cover offers IDV equal to Invoice value plus Registration plus Road Tax for the new

vehicle.

3. Reimbursement of Consumables.This cover reimburses the cost of consumables up to 2% of the admissible claim amount

subject to a maximum of Rs 3000/-

1. Personal Accident of Rs 50 lakhs Death only for registered owner.2. Loss of Personal Belongings including owners laptop from locked vehicle up to Rs

50,000/-

3. Loss of keys up to Rs. 50,000/-4. Inconvenience Allowance of Rs. 3000/- per day for 15 days5. This cover pays a fixed sum towards hiring a transport while the vehicle is under

repair for a valid claim and the repair time is more than 3 days. Period of Daily

Allowance may extend beyond the policy period depending upon the date of loss.

6. Personal Liability of Rs 5 lakhs worldwide for registered ownerYou may also choose from Pre-determined bundles below

Add on Covers Silver Gold Platinum

Depreciation Cap

IDV comprising of On Road Price

Reimbursement of Consumables

Personal Accident Death only

cover for Registered owner

Loss of Personal Belongings

Loss of keys

Inconvenience Allowance


24/56

Personal Liability

Commercial vehicle Insurance:Your vehicle is most critical to your business. Any damage to it can be a huge loss to

you. In todays times of uncertainties, you need a comprehensive insurance cover which not

only covers you for the liability arising out of the Third party but covers you against the loss

or damage to your vehicle.

Benefits

Covers all the features as per the Motor Vehicle tariff Coverage for Partial Loss & total loss arising out of accident, Fire & allied perils,

burglary & theft, riots and strikes, damage in transit by air, rail, road and sea.

Discount (NCB) for claim free experience. Predefined depreciation for the parts needing replacement on account of accident. Third Party Legal Liability: Covers Third party property damage and Third party

Bodily injury.

Future Accident Suraksha:

External sunshine of a tranquil mind. Wouldnt it be nice to never wonder, what if...?

To never have misgivings? To be prepared for absolutely anything? Heres where we come

in. With Future Accident Suraksha - Well take care of any financial consequences that an

unforeseen event might incur. So go on and live a life without worries. After all, when

youre insured even against the unforeseen, peace of mind comes easy.

Scope of cover

The Plan covers risk of Accident Accidental Death Permanent Total Disability Permanent Partial Disability Temporary Total Disablement

Health SurakshaFor Individuals & Family

Always within reach. Your health is your most important asset. And with Future Health

Suraksha, we ensure that you will never have to go too far to protect it. Our network of
http://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspx


25/56

hospitals across the nation will handle any medical problem that arises. Its our way of

protecting you even against the unpredictable.

Benefits

In house Claims processing Cashless settlement Innovative covers offered Family Floater Quick settlement of claims Renewal discount No Claim Bonus

Future Criti-careFor Individuals & Family

Future Criti-Care is a standalone critical benefit plan that insures you against twelve critical

illnesses. Should you ever be diagnosed with one of these, you will be provided with a fixed

sum, regardless of your actual medical expenses and other health indemnity policies.

Subsequent to 90 days from the policys commencement, Future Criti -Care shall cover the

following major medical illnesses and procedures; subject to survival of 28 days from the

date of diagnosis/ procedure. You can apply for this plan in addition to your othermedical

plans.

Cancer* Kidney Failure* Primary Pulmonary Hypertension* Liver Failure* Multiple Sclerosis* Major organ transplant* Coronary artery bypass surgery* First heart attack*(myocardial infarction) Coma* Total blindness* Aorta graft surgery* Stroke*
http://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/HealthSurakshaIndividual.aspxhttp://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsurance/FGCritiCarePlan.aspx


26/56

Travel Suraksha:

195 nations. 7 continents. 1 policy to keep you safe. World travel made easy. Wherever you go,

we keep you safe. Future Travel Suraksha takes care of any contingencies that might arise during

your journey; like misplaced papers, sudden illnesses, lost luggage etc. So travel the world.

Leave the worries to us.

Benefits

Cashless claims settlement Claims turnaround time of less than seven working days Global service and hospital network Worldwide emergency, medical and travel assistance Universal International Free Number (UIFN) Flexibility of choosing a travel insurance plan as per your need Child escort benefit Specially designed plan for senior citizens (i.e. 7180 years of age) Ease and convenience of purchase Instant policy issuance Cover extension in India, up to 90 days for medical expenses on evacuation

Future Generali Home Suraksha:Protect what protects you. Insure your home and everything in it. In todays busy life; we need

someone who protects our worries about unfortunate loss of hard earned money, property, etc.

Future Generali's Home Protection Policy protects you from all your worries. Important features

of various sections of this policy are:

Section I - Protection of your assets against fire and allied perils and earthquake

I-A Buildings I-B Contents (excluding valuables) I-C Cost of alternative accommodation I-D Loss of rent I-E Terrorism I-F Purchase protection

SectionII Burglary / housebreaking and theft


27/56

This section provides protection against the loss or damage to the contents and / or building of

insured premises by burglary and / or housebreaking. The contents may either be insured on

100% basis or first Loss limits (25% or 40%). The sum insured value of contents should be on

market value basis.

Section III: Protection of your valuables

III-A Jewellery / Valuables III-B Portable ComputerAll risk excluding breakdown

Section IV: Protection of your electronic equipment

IV-A Audio visual equipments (electronic equipment)all risk IV-B Computers (electronic Equipment)all risk

Section V: Protection of Your household mechanical / electrical equipment

V - Household appliancesbreakdownSection VI-An Accidental compensation (personal accident)Death / PTD / PPD

VI-A Permanent Partial disability VI-B Hospital confinement allowance

Section VII: Protection against your liability

VII-A your legal liability as a tenant - Tenants legal liability VII-B Workman's compensationDomestic employees VII-C Public liability

Section VIII: Enhanced protection covers (Other covers)

VIII-A Baggageall risk VIII-B Plate glassall risk VIII-C Pedal cycle VIII-D ATM cash withdrawalall risk VIII-G Veterinary costroad accident

Commercial Products:

Scope of cover

This policy is applicable to land-based properties. Our policy is intended to cover unforeseen

events like fire, earthquake, breakdown, burglary, etc. It does not cover wear and tear and


28/56

damage which happens gradually over a period of time which would normally be described as

maintenance. We offer Business Suraksha policy to

Shopkeepers Office Educational Institutions Hotels & Restaurants Housing Societies

Benefits

1. Fire and Special PerilsBuilding and Contents:

This section broadly covers the damages caused by following risk, Fire ,Lightening, Explosion, Aircraft damage Riot/Strike, Malicious damage Storm, Cyclone, Flood and Inundation Impact Damage, Subsidence and Landslide including Rock slide, Bursting & or

overflowing of water tanks, apparatus & pipes

Earthquake Terrorism (Optional)

Also following can be extended to cover the losses consequent to damage / loss by charging an

additional premium...

Rent for Alternate Accommodation. Tenants Legal Liability (Fire Damage- Building)

Note: Building and Contents value shall be shown separately. Contents sum insured is

mandatory. Sum insured value of building; FFF should be on reinstatement basis. Contents

(stocks) should be on Market Value basis. Adequacy of sum insured of Building and Contents to

be ensured to avoid underinsurance.

2. Burglary and Housebreaking:

This section provides protection against the loss or damage to the contents and / or building of

insured premises by Burglary and / or Housebreaking. Contents can be insured on First Loss

Limits. Sum Insured value of contents (Stocks) should be on Market Value basis.

3. Electrical and Mechanical Appliances:


29/56

This section protects you from accidental mechanical or electrical breakdown of machineries or

equipment whilst installed in the Insured Premises. The sum Insured of each equipment should

be on Reinstatement Basis.

4. Electronic Appliances:

This section of policy covers the repair or replacement costs of your Electronic Equipment

caused by any unforeseen and sudden physical loss. The sum Insured of each equipment should

be on Reinstatement Basis.

5. Money Insurance (Money in Transit/ Money in Safe/ Money in Counter):

In business, transferring the money from one place to another often causes anxiety for everyone.

This section protects your risks by:

Money in Transit between the insured premises and specified bank and vice versa. Money in Safe. Money in Counter.

6. Infidelity / Dishonesty of employee:

Employees are our greatest assets. Yet you face instances where your employees cheat you, this

section cover such unusual events. This section covers you against:

Any direct loss caused by act of fraud committed by any salaried employee in the insuredpremises.

7. Fixed Plate Glass:

This section covers accidental damage to fixed plate glass, frames, and frameworks.

8. Neon Sign / Glow Sign:

This section covers accidental damage to Neon Sign / Glow Sign by Fire, lightening, external

explosion, theft, riots, strike & natural calamities, accidental external means.

9. Personal Accident:

This section covers you, in case of Accidental Death, Permanent Total Disablement, and

Permanent Partial Disablement. Maximum Limit for shopkeeper owner is Rs.10 Lacs and for

each employees Rs 2 Lacs.

10. Workmen Compensation:


30/56

This section covers the liability towards your Workmen under the Workmen Compensation Act,

Fatal Accidents Act and at Common Law under this section.

11. Public Liability:

This section will compensate you, for the claims arising out of the third parties bodily injury or

property damage occurring in your premises. This is in accordance with Indian Law.

12. Pedal Cycle:

This section covers the repair or replacement costs in respect of the Pedal Cycle caused by any

unforeseen, accidental and sudden physical loss.

13. Baggage:

This section covers accidental loss caused to your personal baggage while traveling anywhere in

India beyond 25 km radius of the insured premises.

14. Business Interruption (Fire Loss of Profit):

This section provides cover against the loss of income following the loss or damage by standard

fire and special perils.

Corporate Products:

Fire:

Standard Fire and Special Perils Policy:Fire insurance policy is suitable for the owner of property, one who holds property in trust or in

commission; individuals/ financial institutions who have financial interest in the property. All

immovable and movable property located at a particular premises such as buildings, plant and

machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with

goods held in trust or in commission including stocks at suppliers/ customer's premises,

machinery temporarily removed from the premises for repairs can be insured.

Coverage Includes

Fire Lightning Explosion/Implosion Aircraft Damage


31/56

Riot, Strike, Malicious Damage Storm, Typhoon, Hurricane, Tornado, Flood and Inundation Impact damage Subsidence and landslide including Rock slide Bursting and overflowing of water tanks, apparatus and Pipes Missile testing operations Leakage from Automatic Sprinkler Installation Bush Fire

Non Motor Claims Process

Insurance policies are contracts of insurance between the insured and Insurer. The insured needs

to understand the policy issued to him before the loss occurs.

Filing the Claims:

Contact the Call center immediately. The intimation of the loss can be made through Broker / Agent / FG representative in any

office of FG.

It is desirable that the call be placed on our call center to avoid the loop in thecommunication.

Kindly ensure that as far as possible the policy details are available with you before youintimate the loss.

Contact on Phone / email / fax.In case of Fire loss:

Contact the fire brigade / police. Try to minimize the loss and protect the property.

In case of Theft/ Burglary claims:

Loss should be reported to Police Authorities.In case of Marine transit loss:

If you observe the damage to packing insist on open delivery. Qualify the BL/LR/RR/MTD/AWB.

Submitting Documents:

In support of your claim the insured may be required to submit the following documents:-

In case of Fire Policy Claims:


32/56

Claim form, duly filled in & signed by the Insured. Inventory of loss. Repairs bills. Lab. Test reports, if required Photographs, if taken by the Insured Departmental Note about the incident Fire Brigade Report FIR & Police Panchanama.

In case of Marine Claims:

Policy/ Certificate of Insurance duly endorsed Invoice Packing List Surveyors Report Contract of Carriage i.e. Bill of lading, Air Way Bill, Lorry Receipt (Consignment Note),

Railway Receipt (Original in case of Non - delivery)

Documents pertaining to recovery.

In case of Engineering Claims: Claim Form Photographs Police report (first and final) Fire Brigade report

Note: 3 & 4 may be waived where the survey report is clear and does not cause any doubt on

occurrence as well as extent of loss. Where Occurrence of riot is in public knowledge,

production of Final Police Investigation Report and Fire Brigade report may be waived.

Give your contact details i.e. Phone Number / Cell number / Email Id and address whereyou are available.

Maintain all the records of expenses incurred and all the copies of documents andcorrespondence exchanged in respect of the loss.


33/56

Do not dispose of the damaged item before the surveyor has seen the damaged goods andpermits to dispose it.

Stock Loss:

Try and make the detailed list of the stock damaged. If possible try to minimize the loss by segregating the damaged goods from the

undamaged goods.

Try to ascertain if the damaged goods can be restored to its original shape / state if so tryto take steps to do so but in consultation with the surveyor.

Keep the details of stock statement ready as on date of loss (before loss). Segregate the stock position into Raw materials, Stock in process, semi finished goods

/finished goods/ others.

Property Loss:

Make detailed lists, of all damaged items identifying make and model numbers. Identifywhere and when you bought the item and its original purchase price.

If it is safe to do so, take a good look around your property and make a note of anystructural damage. Dont forget to look at all structures on the property such as sheds,

fences, garage, etc.

Obtain detailed written repair estimates from reliable, licensed contractors. The estimateshould clearly give detail of labour and material needed.

Liability Loss:

Inform FG of the happening of an event which may give rise to a claim under the policy. Dont forget to take down the Name, address and telephone number of the witness which

will help us if contributory negligence is there and to be proved.

Property Damage

Nature and extent of loss / damage, valuation, depreciation Contributory negligence Loss of use, loss of profits, increased cost of working, etc. as claimed.

Bodily Injury / Death

Age, Occupation, status, Income, Dependency, Age of the Dependents etc. Percentage of Disability supported by Medical Certificate. Contributory negligence.


34/56

Forward the notice of the claim that may be received without admitting the liability toFG.

Inquiry Procedure:

As your Insurer, FGI strives to maintain the highest standard of service at all times. If you have

an inquiry or concern regarding your policy or claim we encourage you to

Ask us or your insurance broker and agent for an explanation. Have all the pertinent information and documentation available. Make sure that you keep a record of who you talked to and what was said.

If your concern is still not addressed to your satisfaction we urge you to write to the Claims Head

of the FGI office that issued you the policy.

We will of course make every effort to resolve any problem in a fair and reasonable manner.

Settling Your Claim:

Once we agree on the terms of the settlement, payment will be sent promptly

Additional covers:

Earthquake (Fire & Shock) Spontaneous Combustion Deterioration of Stocks in cold Storage premises due to accidental power failure

consequent to damage at the premises of Power Station due to an insured peril

Deterioration of stocks in cold storage premises due to change in temperature arising outof loss or damage to the cold storage machinery in the Insureds premises due to

operation of insured peril.

Forest Fire Impact Damage due to Insureds own Rail/Road Vehicles, Forklifts, Cranes, Stackers and

the like and articles dropped there from.

Omission to Insure additions, alterations or extensions clause Removal of Debris (in excess of 1% of claim amount) Architect, Surveyors & Consulting engineers fees in excess of 3 % of claim amount. Spontaneous Combustion Spoilage Material Damage Cover Leakage and Contamination Cover Temporary Removal of Stocks


35/56

Loss of Rent Rent for an Alternate Accommodation

General Exclusion:

Fire due to own fermentation, natural heating or spontaneous combustion of the stocks orby their undergoing any heating or drying process

Burning by order of any Public Authority Explosion of boilers or steam generating vessels & machinery subject to centrifugal force

by its own explosion or implosion

Pressure waves generated by aircraft Total or partial cessation of work/retarding/interruption of any process or operations

arising out of riot, strike, malicious damage

Burglary, house breaking, theft, larceny arising out of riot, strike, malicious damage Impact damages by rail/road vehicle/animal belonging to the insured or employee or any

occupier of the premises

Normal cracking, settlement, bedding down, up heaving of land/structures, coastal orriver erosion, defective design, workmanship or use of defective materials

Destruction or damage caused by forest fire Excess amount Loss or damage caused by war or war like situations Loss or damage by pollution or contamination except due to insured peril Loss or damage to electrical machine/apparatus, which is the source of fire Architects, Surveyors & Consulting Engineer's fees exceeding 3% and debris removal

expenses

Any consequential lossesRating:

Rating depends on

The type of occupancy-whether industrial or otherwise Claim experience Fire Protection System Deductible


36/56

Loss of Profits (Consequential Loss) PolicyThe Consequential Loss (fire) policy covers Loss of Gross Profit and/or increase in cost of

working due to reduction in turnover/output due to operation of peril covered in the Standard

Fire & Special Perils Policy.

Coverage Includes

Loss of Net Trading Profit Standing Charges Loss in Respect of Wages other than those covered by the Standing Charges Increased Cost of Working Auditor's Fees

Industrial all risk:

Scope of Cover

A comprehensive coverage for the Industrial risks having overall Sum Insured of Rs. 100 crores

and above in one or more locations in India. The Policy covers not only the Physical Losses or

damage but also consequential losses arising out of the business interruption due to accidental

unforeseen physical loss or damage to property.

Policy Structure

Section I - Material Damage which includes Fire & Allied perils, theft, Burglary,Machinery Breakdown, Boiler Explosion, Electronic equipment, etc

Section II - Business Interruption - Fire Loss of Profit and Machinery Loss of Profit(MLOP is optional).

Coverage

IAR is an all Risk policy subject to specified exclusions in the policy.

Deliberate erasure loss distortion or corruption of the information

Deductible stated in the schedule.

Engineering Insurance:

Erection All Risk Policy:


37/56

Comprehensive and adequate insurance protection against all risks involved in the erection of

machinery and plant as well as structures of any kind. This policy provides coverage to all types

of projects including large projects such as erection of Thermal Power stations, Fertilizers Plants,

Oil refineries or the installation of complete factory facilities, which bring about so many risks

for both the contractors and the principal. Coverage right from the moment the material are

unloaded on the site of the projects/ works and continues during storage, physical erection and

till the test run is over.

Scope of cover:

this policy covers risks associated with storage, assembly/erection and testing of Plant and

Machinery. EAR insurance provides comprehensive cover. All perils are covered unless

specifically excluded. Cover incepts from the time of unloading of the first consignment at the

project site and terminates on completion of testing or handing over of the project to the

Principal, or the period chosen, whichever is earlier.

Period of Cover:

The insurance cover commences from the date of arrival of first consignment at the site of

erection and continuous until immediately after the first test operation or test loading is

concluded.

Additional Covers:

Escalation Clearance and Removal of Debris Third Party Liability Extended Maintenance Damage to Owners Surrounding Property Express Freight Additional Customs Duty Holiday and Overtime rates and Wages

Rating

The rating depends on:

Type of projects Period of projects Testing period


38/56

Sum insured of Project Deductible Location of project Extensions opted

Contractors all risk:

Specially designed to protect the interest of civil contractors against the damage to or

destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels,

cannels, etc). These projects includes accidental damage to civil Construction works, contractor's

plants & machinery at the construction site and damage / defects during the subsequent period of

maintenance for which the contractors is liable under the terms of the agreement between the

contractors and the principle.

Scope of cover

Contractors all risk Policy covers the risk of accidental physical loss or damage in respect of the

contract works, during the execution of a civil project. CAR insurance provides an all risk

cover. All perils are covered unless specifically excluded. Cover incepts from the

Commencement of work or after unloading of first consignment at project site, whichever is

earlier and terminates on handing over of works to the principal or expiry of policy, whichever is

earlier.General Exclusions

Willful misconduct Cessation of work whether total or partial Delay Damage due to faulty design Rectification of defective material Workmanship inventory losses

Period of Cover

The cover attaches with the commencement of work or after the items entered in the schedule of

the policy have been unloaded at the site whichever is earlier and shall expire on the date

specified in the policy. However, company's liability expires for parts of the insured contract


39/56

works taken over or put into service by the Principal prior to the expiry date specified in the

policy whichever shall be earlier.

Additional Covers

Third Party Liability. Owners Surrounding Property. Escalation. Maintenance Cover. Clearance and Removal of Debris. Contractor's Plant and Machinery

Rating

Rating depends on:

Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted

Machinery Breakdown:The policy covers unforeseen and sudden physical damage to any mechanical and electrical

machinery and/or equipment by any cause necessitating repairs and/or replacement.

Scope of cover

The Insurance Policy broadly covers loss due to all kinds of accidental, electrical and

mechanical breakdowns due to internal and external causes. Cover is granted during the time the

machinery is in operation or rest or in the process of dismantling, overhauls or during subsequent

re-election at the same premises.

General Exclusions

Fire and allied perils Theft Overloading experiments Willful acts or gross negligence


40/56

Gradually developing flaws Deterioration from normal use

Additional Covers

Air Freight Express Freight (excluding Air Freight) Overtime & Holiday Wages Insureds own Surrounding Property Third Party Liability

Rating

Type of machine Deductible

Contractors Plant & Machinery:

Specially designed to protect the interest of civil contractors against the damage to or destruction

of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels etc).

These projects includes accidental damage to civil Construction works, contractor's plants &

machinery at the construction site and damage / defects during the subsequent period of

maintenance for which the contractors is liable under the terms of the agreement between the

contractors and the principle.

Scope of cover:

Contactors Plant & Machinery policy covers loss or damage to the contractors property

due to any cause that is accidental and external in nature. Cover operates when the insured

property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or

during subsequent re-erection.

Period of Cover:

The cover attaches with the commencement of work or after the items entered in the

schedule of the policy have been unloaded at the site whichever is earlier and shall expire on the

date specified in the policy. However, company's liability expires for parts of the insured

contract works taken over or put into service by the Principal prior to the expiry date specified in

the policy whichever shall be earlier.

Additional Covers:

Third Party Liability.


41/56

Clearance and Removal of Debris. Additional Customs Duty. Overtime, express freight. Owners Surrounding Property.

Rating

Rating depends on: Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted

Boilers & Pressure plant:

The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types

of Boilers and/or other pressure plants, where steam is being generated.

This policy covers for physical loss or damage to boilers and/or other pressure plant against

unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured

items.Coverage Includes

Steam Generating Boilers both fixed and unfixed against the risk of Explosion or Collapse.

General Exclusions

Loss or damage due to fire and allied perils. War and nuclear risks. Loss arising out of overload, experiment or test. Gradual developing flaws, defects, cracks or partial fractures. Failure of individual tubes. Explosions/ Collapse due to facts, existing at the time of commencing insurance, known

to the insured.

Consequential losses. Willful Negligence.


42/56

Damage by Chemical explosion except in recovery boilers and waste heat boiler.Additional Covers

Express freight Air freight Owners surrounding property Third part liability Additional custom duty Escalation Clause

Rating

Type of Boiler Age of Boilers

Electronic Equipment:

The electronic equipment insurance policy is an all risk policy designed for computers, medical,

biomedical, microprocessor, and audio/visual equipment including the value of system software.

Rates are terrified.

Scope of cover

Cover operates when the insured property is at work or at rest or being dismantled for the

purpose of cleaning/overhauling or during subsequent

Future generali insurance project profile.doc.xlsx.docx

Documents

Transcript of Future generali insurance project profile.doc.xlsx.docx