My Project on Insurance

SBI GENERANCE INSURANCE

1. INTRODUCTIONInsurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. General insurance

Definition Insurance as a form of contract or agreement under which one party agrees in return for a consideration to pay an agreed amount of money to another party to make good a loss , damage, or injury to something of value, as a result of some uncertain even in which the insured has pecuniary interest.

HistorySBI General Insurance Companystarted its operation in the year 2010. The general insurance venture fromState Bank of Indiahas the Insurance Australia Group(IAG) as a partner in the business. SBI has a 74% stake in the company while the remainder is held by IAG. SBIis Indias largest bank with an unparalleled distribution network with a large number of clients - both retail and corporate. SBI General can easily leverage this become a very large player in the general insurance market. With a history dating back to 1920s, the expertise ofIAG groupwill play a crucial role in the venture.SBI General Insurance CompanyLimited is a joint venture between the State Bank of India and Insurance Australia Group (IAG).SBIhas a74%stake in the company while the remainder is held byIAG. SBI General Insurance Company is headquartered in Mumbai, the commercial capital of India.

State Bank is the largest banking franchise in India and. Along with its seven associate banks, it has the strength of over 18,500 branches across the country and the largest in the world.

Insurance Australia Group Limited (IAG) is an international general insurance group, with operations in Australia, New Zealand, the United Kingdom and Asia.

SBI General Insurance has a team of highly experienced professionals in place to ensure that the company functions in sync with its vision and goals.RR Belleis the CEO and Managing Director of SBI General Insurance.

A variety of insurance products are offered by SBI General to suit the different individual needs and preferences of the customers. These include insurance products with respect to motor, travel, health, accident and home insurance. The company also caters to SME and corporate clients with customized solutions for insurance and risk consultancy, liability, property, liability, marine and miscellaneous.

SBI General Distribution Network:SBI General's current geographical coverage extends to 20 cities pan India and plans are on to extend this reach to another 25 cities by mid 2012.

Insurance sector has shown tremendous growth in the recent years. In the future as well, it is expected to progress at a high scale. Earlier, only two Insurance companies were there in India Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC). Now, this sector has 24 Life Insurance and 24 General Insurance companies which offer various innovative products keeping in mind the different needs of people. Most of these companies have entered the market in collaboration with International firms.These companies have come up with a bundle of policies which have their own pros and cons. Every investor has his/her own needs, risk appetite, future goals and budget. As per these factors, a plan useless for one can be the best for another.We are providing you with the list of General & Life Insurance companies based on their policy fees, overall expert ratings, complaint ratings, financial strength, credit ratings and more such factors. You can also understand the products of these companies by going through the Product Reviews, Articles and other details that we have provided.

2. OBJECTIVES OF GENERAL INSURANCE1. The main objective of the Insurance company is that they provide liability of difficulties that are faced in business as well as in life.2. In India most of Indians have the security life policy in Life Insurance Corporation of India. It provides enough needs according to the customers expectation. The policy varies depending upon the income of the person and the business.3. Insurance companies take risks based upon actuaries who uses statics to determine overall exposure on a policy. Once your company determine its risk they write a policy and caculate your premium.4. They also outlines what is not insured. premiums are collected from insured parties.5. Insurance refers to the commercial arrangement in which a business establishment accepts the liability of risks faced by individuals for a small sum of fee called premium. Companies providing such insurance are called insurance companies.6. Insurance companies help to spread the risk of loss among a large number of their clients. For example when a company insure your car for a small sum against accidents, it charges a yearly insurance which is much less than the losses you may have to bear if the accident actually happened. In return it will compensate you for the actual losses incurred if an accident actually happens.7. In this arrangement the clients of the insurance companies benefit by avoiding a major but uncertain loss which they may be ill prepared to bear by accepting to pay a small but certain premium. Not only they avoid the big loss they also buy the Peace of mind by knowing that if some thin goes wrong, the insurance companies will bear the losses. 8. The insurance companies benefit as the premium is so calculated the even after paying for all the losses occurring against insured events, they will still be left with some surplus profit.9. Insurance and insurance companies are grouped in two broad classes - life insurance and general insurance. Life insurance is protection against pre-mature death of a person. In case, of premature death of a person, his nominated survivors are paid a sum substantial sum of money. 10. This sum of money is agreed in advance and the insured person pays premium to insurance company in proportion to this.11. General insurance refers to insurance for any thing other than life. It covers loss of property due to reasons such as theft, accidents, and natural calamities. 12. It also covers expenses for some specific purposes such as medical treatment and liability for payment of compensation to victims of road accidents.

3. MOTOR INSURANCE

Tractor and Other Farm Vehicles InsuranceIndia is an agriculture based country. Agriculture and farming are the main occupations of the majority of the population of our country outside big cities. At SBI General, we recognise the pivotal role farmers like you are playing in contributing to the growth and development of the country. Unfortunately you are also exposed to the vagaries of the nature that can potentially cripple you sometimes due to accidental damage to your Tractor or other farming vehicles. With SBI General's Tractor and Other Farm Vehicles Insurance Policy- Package, you can safeguard your Tractor and other Farming Vehicles as well as your dream. A) Scope1) This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or damage to the Vehicle itself.2) Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property.3) Loss or damage to the vehicle:The policy covers against any loss or damage caused to the vehicle or its accessories due to the following: i) Fire, explosion, self-ignition, accidental damage by external means.ii) Any damage in transit by road, rail, inland waterway, lift, elevator or air.iii) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.iv) Burglary, theft, riot, strike, malicious act & terrorist activity.v) Personal accident cover: vi) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners (available only if the owner of the vehicle holds a valid driving license) of the vehicle while driving. This is not applicable for a Company owned vehicle. Occupants of vehicles can also be covered for Personal Accident for a maximum Capital Sum

vii) Insured of Rs 2 lakh per person. You may also now opt for higher limits in Personal Accident cover.viii) Additional Legal liabilities :The following additional legal liabilities may also be opted for at an additional premium. Paid driver/Cleaner employed in operation of vehicle. Employees travelling in/driving the vehicle other than paid driver.B) Bonus No Claim Bonus(NCB) Protection Cover.On payment of additional premium, SBI General will maintain the No Claim Bonus (NCB) subject to the following: a) The vehicle is renewed with us. b) There was only one single such claim lodged in the entire Policy period. c) The insured vehicle is repaired in a Company authorised Garage. d) The rate of the NCB allowed at the time of renewal will be same that the insured was enjoying prior to the loss. Return to Invoice Cover:On payment of the additional premium, SBI General will pay the financial shortfall, if any, between the amount Insured receives under section I of the Policy and the Purchase price of the vehicle as confirmed in the Invoice of Sale or current replacement price of new vehicle, whichever is less, in the event, the insured vehicle is a Total Loss/CTL following an accident or stolen during the period of insurance and not recovered. SBI General will also reimburse the first time registration charges and road tax which the Insured had incurred on the insured vehicle. Provided that, insured vehicle is not more than 2 years old from date of invoice/date of registration whichever is earlier on the commencement date of the Policy. 1) Commercial Motor InsuranceLife is one great balancing act. As you set to get the best out of life, you do encounter life's little road blocks like accidents & thefts. The best way to handle them is to just move ahead and enjoy the journey rather than get bogged down. With SBI General's Commercial Vehicle Insurance Policy, you be in control no matter what the little road blocks that life throws at you.

A) Scope1) Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property. 2) Loss or damage to the vehicle:

3) The policy covers against any loss or damage caused to the vehicle or its accessories due to the following:

4) Fire, explosion, self-ignition, accidental damage by external means

5) Any damage in transit by road, rail, inland waterway, lift, elevator or air.

6) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.

7) Burglary, theft, riot, strike, malicious act & terrorist activity

8) Personal accident cover:

9) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners (available only if the owner of the vehicle holds a valid driving license) of the vehicle while driving. This is not applicable for a Company owned vehicle. Paid driver, cleaner and conductor employed in operation of vehicles can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs 2 lakh per person. You may also now opt for higher limits in Personal Accident cover.

10) Additional Legal liabilities :

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

12) Paid driver/Conductor/Cleaner employed in operation of vehicle. Employees travelling in/driving the vehicle other than paid driver. 13) Non-fare paying passengers

C) Bonus1) No Claim Bonus2) If you do not make a claim during the Policy period, a No Claim Bonus (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 shift your motor insurance policy from another company. 2) Motor Private Car InsuranceLife is one great balancing act. As you set to get the best out of life, you do encounter life's little road blocks like accidents and thefts. The best way to handle them is to just move ahead and enjoy the journey rather than get bogged down. With SBI General's Private Car Package Policy, you be in control no matter what the little road blocks that life throws at you.

CAR INSURANCE

A) Coverage1) Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or damage to the Vehicle itself. 2) Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property.

3) Loss or damage to the vehicle: 4) The policy covers against any loss or damage caused to the vehicle or its accessories due to the following. 5) Fire, explosion, self-ignition, accidental damage by external means. 6) Any damage in transit by road, rail, inland waterway, lift, elevator or air. 7) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.8) Burglary, theft, riot, strike, malicious act and terrorist activity. 9) Personal accident cover. 10) The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners (available only if the owner of the vehicle holds a valid driving license) of the vehicle while driving. This is not applicable for a Company owned vehicle. Occupants of vehicles can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs 2 lakh per person. You may also now opt for higher limits in Personal Accident cover. 11) Additional Legal liabilities. 12) The following additional legal liabilities may also be opted for at an additional premium 13) Paid driver employed in operation of vehicle. 14) Employees travelling in/driving the vehicle other than paid driver. 15) Bifuel-Kit: 16) The CNG-LPG bifuel kit can also be covered by paying additional premium. 17) Nil Depreciation: 18) On payment of additional premium Company will indemnify the Insured without deduction for depreciation on parts in respect of approved partial loss. 19) NCB Protection: 20) On payment of additional premium Company will maintain the No Claim Bonus (NCB) subject.

21) Return to Invoice: 22) On payment of the additional premium, Company will pay the financial shortfall, if any, between the amount Insured receives under section I of the Policy and the purchase price of the vehicle as confirmed in the Invoice of Sale or current replacement price of new vehicle, whichever is less, in the event the insured vehicle is a Total Loss/CTL following an accident or stolen during the period of insurance and not recovered. The Company will also reimburse the first time registration charges and road tax which the Insured had incurred on the insured vehicle. Provided that, insured vehicle is not more than 2 years old from date of invoice/date of registration whichever is earlier on the commencement date of the Policy.B) Bonus1) No Claim Bonus2) If you do not make a claim during the Policy period, a No Claim Bonus (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 shift your motor insurance policy from another company.3) Other Discounts4) Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess in addition to the Compulsory Excess. (All Policies carry Compulsory Excess amount which is deducted from the claim amount payable)3) Motor Two Wheeler InsuranceLife is one great balancing act. As you set to get the best out of life, you do encounter life's little road blocks like accidents andthefts. The best way to handle them is to just move ahead and enjoy the journey rather than get bogged down.With SBI General's Two Wheeler Package Policy, you can be in control no matter what the little road blocks that life throws at you. A) Coverage1) This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or damage to the Vehicle itself.2) Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property.

3) Loss or damage to the vehicle: covers against any loss or damage caused to the vehicle or its accessories due to the following,4) Fire, explosion, self-ignition, accidental damage by external means5) Any damage in transit by road, rail, inland waterway, lift, elevator or air.6) Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.7) Burglary, theft, riot, strike, malicious act and terrorist activity8) Following are the additional opt-in covers9) SBI General's Two Wheeler Package Policy provides compulsory personal accident cover of Rs. 1 lakh for individual owners (holding a valid driving license) of the vehicle while driving. This is not applicable for a Company owned vehicle.10) Pillion Rider of the two wheeler can also be covered for Personal Accident for a maximum Capital Sum Insured of Rs. 1 lakh. You may also opt for higher limits in Personal Accident cover.

B) Bonus1) No Claim Bonus: If you do not make a claim during the Policy period, a No Claim Bonus (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.)2) Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company.

4. HOME INSURANCE

Long Term Home InsuranceProtect it with SBI General's Long Term Home Insurance Policy.You spend your lifetime in dreaming about a home of your own. You take the help of financial institutions to fulfil your dream. Along with the pleasure of fulfilling your dream come the liability and the responsibility of paying for the same over the next few years. At SBI General, we make things easy for you to protect your dream home. With SBI General's Long Term Home Insurance Policy, you can truly enjoy the home you have just acquired.

HOME INSURANCEA) Coverage1) SBI General's Long term Home Insurance Policy is designed for covering loss or damage caused to the building used as residential homes due to fire and special perils. Covers destruction of or loss/ damage to the insured property by any of the following perils :2) Fire3) Lightning4) Explosion / Implosion (excluding boilers , economizers, pressure vessels)

5) Aircraft Damage6) Riot, Strike and Malicious Damage7) Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation8) Impact Damage9) Subsidence and Landslide including Rockslide10) Bursting and/ or Overflowing of water tanks, apparatus and pipes11) Missile Testing Operations12) Leakage from Automatic Sprinkler Installations13) Bush Fire14) Earthquake (Fire and Shock)15) Further, on payment of additional premium, Terrorism Cover can be opted.16) Disclaimer: The above information is only indicative in nature. For details of the complete coverage please contact our nearest office and refer to the policy document.17) Duration - The recommended Plan option is a minimum of 3 years as it will optimally protect your dream home against any eventualities. The maximum duration one can take is 30 years.18) The rate of premium shall depend upon the Location and Period of Insurance Policy.

5. PERSONAL ACCIDENT INSURANCE

1) Group Personal Accident Insurance for SBI & it's Associated Banks

Your familys happiness is priceless. Protect it. Life has the knack of springing unpleasant surprises like accidents and potentially upsetting ones dream and causing financial hardship for the family. With SBI General, you can be in control and safe guard your familys happiness. At SBI General we believe in being with you at every step and help you take control of your life.

Group Personal Accident Insurance for:SBI Account holder (Master Policy No.68100-0000-00)Policy WordingClaim Form

SBI Account holder (Master Policy No.137300-0000-00)Policy WordingClaim Form

SBI Account holder (Master Policy No.143820-0000-00)Product LeafletPolicy Wording







CoverageThe Policy covers death due to accident only.Sum insuredSum InsuredPremium payable including Service Tax as applicable

Rs. 2,00,000Rs. 100

Rs. 4,00,000Rs. 200

Rs. 10,00,000Rs. 500

Rs. 20,00,000Rs. 1000

2) Individual Personal Accident Insurance PolicyLife has the knack of springing unpleasant surprises like accidents and potentially upsetting ones life and causing financial hardship. With SBI General you can be in control and safe guard your family against these uncertainties. At SBI General we believe in being with you at every step and help you take control of your life.You can take on the challenges life throws at you and secure your familys future with SBI Generals Individual Personal Accident Insurance Policy. This Policy is designed to cover Loss of Life, Disabilities and Income due to an Accident.

CoverageSBI General's Individual Personal Accident Insurance Policy has 'Accidental Death' as compulsory cover and 'PTD, PPD and TTD as optional covers. Insured may opt for any of the following coverage options -A) Accidental deathB) Accidental death + Permanent Total Disability (PTD)C) Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD)D) Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD) + Temporary Total Disability (TTD)

In case of family option, every member of the family has option to choose from the benefits given above. However the benefits chosen by family members should not be more than the benefit chosen by primary insured.3) Permanent Total Disability (PTD) benefit comes with the following benefits at no additional cost A) Education benefit: Death and permanent total disability claim entitle the insureds child and spouse to Education Benefit of Rs.50,000/- or 1% of CSI (basic SI), whichever is lower for each child/spouse, to maximum two individuals (children/spouse) on proof of enrolment at a Government approved education facility.B) Adaption allowance: Permanent total disability claims also include payment towards cost of modifying Insured House or vehicle to combat Disability @ 1 % or Rs 25,000/- whichever is less.Add on Covers:Hospital Confinement Allowance: The per day allowance of Rs.1000 / 2000 / 3000 with a maximum coverage for 15 days for the entire policy period, if insured is admitted in a Hospital due to Injury or Accident that occurs within the Republic of India.Ambulance Charges including air ambulance: 10% of Accidental Death Sum Insured subject to maximum of Rs.1,00,000 per policy period towards expenses incurred for availing an Ambulance Service. Ambulance cover available only when Accidental Death Sum Insured is Rs.5,00,000 and more. The expenses are payable if incurred for availing an Ambulance Service (including air ambulance) to transfer the Insured Person to a Hospital from the location of Accident or Injury or from one Hospital to other Hospital or from hospital to place of residence in case of death or PTD.Age & Sum Insured Eligibility: The minimum age of entry for SBI Generals Individual Personal Accident Insurance Policy is 18 years. However Children from the age of 3 months can be covered subject to either of the parents is concurrently covered with the same Policy. The Maximum age of entry for the policy for adults is 65 years and for children is 23 years. Family option is available, where family means the Primary Insured Person, legal spouse, dependent children, dependent parents and dependent parents in law.

Plan options The minimum coverage available under this policy is Rs.1,00,000 and the maximum coverage available is Rs.1,00,00,000. Sum Insured for Accidental Death Benefit / Permanent Total Disability is limited to 120 times monthly gross income or 10 times the annual gross earnings from gainful employment/occupation Sum Insured to dependent children, dependant parents, parents in law and non working spouse is limited to 20 % of Sum Insured of the Primary Insured or Rs.10,00,000/- whichever Is less .

Weekly Indemnity under the Temporary Total Disablement benefit is 1% of Accidental Death Sum Insured subject to Max of Rs.10, 000/- per week, up to maximum of 104 weeks.

Note: For Accidental Death Sum Insured of above 25 Lakhs, copy of self attested latest income proof (latest 3 Salary Slips / Form 16 / IT return) needs to be provided along with the completed Proposal Form.

Policy Cancellation: The SBI Generals Individual Personal Accident Insurance Policy is available for a period of one year, however short period policies may also be considered as per the following table.Period on RiskRequired % of Annual Premium

Not exceeding 1 month25%

Exceeding 1 month but not exceeding 3 months50%

Exceeding 3 month but not exceeding 6 months75%

Exceeding 6 months100%

This insurance may also be cancelled by the Company by giving the Insured at least 15 days written notice to the address stated in the Schedule. Such cancellation will be on grounds of mis-representation, fraud, non-disclosure of material facts or non-cooperation of the insured. In such an event the Company will retain premium on a pro-rata basis and refund the balance premium to the Insured. Ordinarily renewals will not be refused /cancellation will not be invoked by Insurer except on ground of fraud, moral hazard or misrepresentation.

6. HEALTH INSURANCE

A) Health InsuranceWe understand that people are unique and have varying levels of control over their health. Each of us would like to define a healthy life on our own terms. At SBI General, its our aim to partner with you and help you achieve better health and a sense of security along the way.In times of rising health care costs, a sudden illness or injury can leave you financially devastated and highly stressed. With SBI Generals Health Insurance Policy Retail, you can be in control by making medical treatment expenses more manageable. Thus ensuring quality health & happiness of your family.HEALTH INSURANCE

Apollo DKV Health Insurance has renamed itself Apollo Munich Health Insurance as a part of its five-year strategic plan to gain a five per cent market share. Apollo Munich is a joint venture between Asias largest integrated healthcare provider, TheApollo HospitalsGroup, and Germany-based Munich Res segment, Munich Health.

CoverageThis policy covers the following subject to the terms and conditions:Sr. no.Expense HeadsExpense Limit(Rs).

1Medical Treatment with Room, Board & Nursing Expenses & Service Charges etc.Up to 1% of the Sum Insured per day

2Medical Treatment in Intensive Care UnitUp to 2% of the Sum Insured per day

3All admissible claims under 1 & 2 during the policy periodUp to 25% of the SI per illness/injury per claim

4Consultants & Specialists FeesUp to 40% of the SI per illness/injury per claim.

5Anaesthesia, Blood, Oxygen, OT Charges, Surgical AppliancesUp to 40% of the SI per illness/injury per claim.

6Pre-hospitalisationUp to 10% of the eligible hospitalisation expenses incurred 30 days prior to date of admission into the hospital.

7Post-hospitalisationUp to 10% of the eligible hospitalisation expenses incurred 60 days after the date of discharge from the hospital.

8Ambulance charges1% of SI up to a max of Rs. 1500.

9Free Medical Check upFree medical check-up - 1% of SI up to a max of Rs. 2500 for every 4 claim free years.

10Parental Care: Attendant nursing charge to take care of you parents who are above 60 years of age.Available for persons above 60 years old. Attendant nursing charges after discharge from the hospital for Rs 500 or actual whichever is less per day up to a max. 10 days per hospitalisation. The charges can be reimbursed for a period not exceeding 15 days during the entire Policy period.

11Child Care: Attendant escort charges to take care of child below 10 years of age.Available for child below 10 years. Attendant escort charges of Rs 500 for each completed day of hospitalisation subject to maximum of 30 days during the Policy Period.

12Limit of Cataract15% of sum insured subject to maximum of 25000 per eye subject to first two years exclusion.

13Accidental HospitalisationSum Insured Limit under the policy shall increase by 25% of the balance sum insured available subject to max of Rs.1 Lac. in case of accidental hospitalisation. Payable only once under the Policy per person.

14Alternative Treatment (Subject to Treatment taken at a Ayurvedic hospital confirming with our definition of hospital and which is registered with any of the local Govt. bodies)Reimbursement of Ayurvedic Treatment up to a maximum of 15% of Sum Insured per Policy period up to a maximum of Rs. 20000 & Homeopathy and Unani Treatment upto a maximum 10% of Sum Insured per Policy period up to a maximum of Rs. 15000.

15Domiciliary HospitalisationReasonable and Customary Charges towards Domiciliary Hospitalisation as defined in Policy definition subject to 20% of the Sum Insured maximum up to Rs.20000 whichever less is.

16Convalescence Benefit- Benefit available for Insured above 10 years & below 60 years.Covers select Day Surgery where less than 24 hours hospitalisation for specified procedures like Dialysis, Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery (Due to accident), Tonsillectomy, etc are covered.

17Co-Payment on all eligible admissible claims in non-network hospitals10% on all eligible admissible claims.

18Cashless facilityAcross SBI General's Network Hospitals

19Coverage for select Day Surgery procedures where less than 24 hours hospitalisation is required.Covers select Day Surgery where less than 24 hours hospitalisation for specified procedures like Dialysis, Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery (Due to accident), Tonsillectomy, etc are covered.

What is the minimum & maximum coverage possible under this Policy?The minimum coverage available for you and your family under this policy is for a Sum Insured of Rs.50,000. The Maximum coverage available under this policy is for a SumInsured of Rs.500,000 subject to the Terms and Conditions of the Policy.The following Terms & Conditions apply while Sum Insured is finalised:1) Maximum Sum Insured would be restricted to Rs.200,000/- for insured persons aged 60 and above and taking a policy with SBI General Insurance for the first time.2) Minimum Sum Insured for Family Floater Policy would be Rs.200,000/-3) By Family we mean-- For Individual Policy: You, your legal spouse, legal & dependent children and dependent parents.- For Family Floater Policy: You, your legal spouse and legal & dependent children. 1) Based on the medical history, Sum Insured opted and/or age, you/your family members may be subject to a Medical Examination.2) Renewal for people beyond 70 years will be allowed subject to Insured accepting to pay the premium and additional loading as applicable for the age band in which the Insured falls at the time of renewal and as approved by IRDA. What are the Add-on Covers available with this Policy?On payment of additional premium the following Add-on Covers are available with his Policy. Any one or both Add-on Covers can be opted by the primary insured and which is applicable to all the members in the family. - Removal of Room & ICU rent sub-limits - Removal of sub-limits on Operation and Consultancy charges

Plan OptionsSBI General firmly believes in providing you with flexible options in terms of where you would like to get treated should the need arise.In case you are living in a Metro or in a Semi Metro, and you would like to get treated there only, the Policy provides you with an option to choose a Plan. This way it helps you to choose a plan which is more appropriate to your need and hence priced accordingly. The Policy firmly puts you in control by giving you the flexibility to select an appropriate option that is just right on your purse.PLAN %%%

PLAN A (MUMBAI & DELHI)100100100

PLAN B (CHENNAI,KOLKATA,BANGALORE,AHMEDABAD,HYDRABAD)80100100

PLAN C (REST OF INDIA)7080100

1) Plan A - 100% of the admissible claim amount for all Locations subject to the Policy terms and conditions.2) Plan B - 100% of the admissible claim amount for Locations B and C, and 80% for Location A subject to the Policy terms and conditions.3) Plan C - 100% of the admissible claim amount for Locations C, 80% for Location B and 70% for Location A subject to the Policy terms and conditions.4) The percentage of amount shown in the above table is with respect to the admissible claim amount. The Company will make payments only after being satisfied, with the necessary bills and documents.

B) Health Insurance - SBIYour familys happiness is priceless. Protect it.SBI GENERALS GROUP HEALTH INSURANCE POLICY - For IndividualWe understand that people are unique and have varying levels of control over their health. Each of us would like to define a healthy life on our own terms. At SBI General, its our aim to partner with you and help you achieve better health and a sense of security along the way. In times of rising health care costs, a sudden illness or injury can leave you financially devastated and highly stressed. With SBI Generals Group Health Insurance Policy (for individual and family), you can be in control by making medical treatment expenses more manageable, thus ensuring quality health and happiness of your family.

FAMILY HEALTH INSURANCE

Your greatest wealth is your health & everybody has differing levels of control over their own wellbeing. Life follows no fixed pattern and sudden illness or bodily injury can sometimes leave you financially hurt and highly stressed. SBI General's Group Health Insurance Policy helps you to be in control by protecting and making medical treatment expenses more manageable thus ensuring quality health care for you and your family.

Group Health Insurance Policy for:

SBI Account holders (Master Policy No.95000-0000-00) Product Brochure | FAQ

Product LeafletPolicy Wording

SBM Account holders (Master Policy No.143700-0000-00) Product Brochure | FAQ


SBH Account holders (Master Policy No.143703-0000-00) Product Brochure | FAQ


SBP Account holders (Master Policy No.143706-0000-00) Product Brochure | FAQ






Key benefits 1) No pre-policy medical test up to the age of 65 years for people with no medical history2) Just 1 year waiting period for specified diseases (Pre-existing diseases covered after 4 years)3) Guaranteed renewal4) Multiple Coverage Options Individual & Family Floater options for Sum Insured5) The premium paid is exempt from Income Tax under Sec 80 D of Income Tax Act (Tax benefits are subject to change in tax laws)

6) Coverage of Pre and Post Hospitalisation Expenses - 30 days before and 60 days after the hospitalisation7) Cashless treatment at over 3,000 Network hospitals8) Wide Coverage From Rs.100,000 up to Rs.500,000

CoverageThis policy covers the following subject to the terms and conditions:

S.No.Expense HeadsExpense Limit (Rs.)

1Ambulance charges1% of SI up to a max of Rs. 1500.

2Domiciliary HospitalisationReasonable and Customary Charges towards Domiciliary Hospitalisation as defined in Policy subject to 20% of the Sum Insured maximum up to Rs. 20000 whichever is less.

3Co-Payment on claims in non-network hospitals10% on all eligible admissible claims.

4Cashless facilityUp to 40% of the SI per illness/injury per claim.

5Coverage for select Day Care Surgery proceduresCovers select Day Care Surgery where less than 24 hours hospitalisation for specified procedures like Dialysis, Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery (Due to accident), Tonsillectomy, etc are covered.

6Room boarding and Nursing charges ICU Charge1%/day for Non ICU and 2%/day for ICU. All incremental Expenses pertaining to room rent, medical practitioners / specialists fees and other incidental Expenses to be borne by the insured.

Pre-hospitalisation Expenses Coverage - 30 days prior to date of admission into the hospital.

Post-hospitalisation Expenses Coverage - 60 days after the date of discharge from the hospital.

Medical Practitioner and Specialists Fees.

Anesthesia, Blood, Oxygen, Operation Theatre charges, Surgical Appliances, Medicines and Drugs, Physiotherapy, Diagnostic Materials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Prosthesis/Internal Implants and any medical expenses incurred which is integral part of the operation.

Sum insuredThe minimum Sum Insured (SI) is Rs.100,000.You can also take the following Sum Insured options:Rs.100,000; Rs.200,000; Rs.300,000; Rs.400,000 & Rs.500,000.

C) Critical Illness Insurance PolicyYour greatest wealth is your health. Life follows no fixed plan and a sudden illness that is critical can sometimes leave you financially hurt and highly stressed. SBI Generals Critical Illness Insurance Policy helps you to be in control by protecting you financially.SBI Generals Critical Illness Insurance Policy covers you against thirteen most important critical illnesses. The Policy provides for a fixed sum, irrespective of your actual medical expenses! It helps you bear the high cost of treatment associated with critical illness & stay financially stable.Key benefits 1) Coverage against 13 most critical Illnesses2) Maximum age of entry is 65 years3) Two Plan Options One year and 3 years4) Up to Rs.50,00,000 Sum Insured5) Free Look Period of 15 days6) The premium paid is exempt from Income Tax under Sec 80 D of Income Tax act

CoverageThe Policy provides for Insurance cover against 13 Critical Illnesses. The Insurance benefit is payable, only if the Insured is alive for a period of more than or equal to 28 days from the date of the first diagnosis of the illness/medical event or undergoing illness related surgical procedure for the first time:

Sno.Types of Critical IllnessSurvival PeriodMin. Assessment Period

1Cancer28 days28 days

2Kidney Failure (End Stage Renal Failure)28 days28 days

3Primary Pulmonary Arterial Hypertension28 days28 days

4Multiple Sclerosis28 days28 days

5Major Organ Transplant28 days180 days

6Coronary artery by-pass grafts (with surgery to divide the breastbone)28 days28 days

7Aorta Graft Surgery28 days28 days

8Heart Valve Surgery28 days28 days

9Stroke28 days90 days

10Myocardial Infarction (First Heart Attack)28 days28 days

11Coma28 days30 days

12Total Blindness28 days28 days

13Paralysis28 days90 days

Only one Critical Illness claim can be allowed by us during the lifetime of the Insured. The Critical Illness policy terminates immediately on the payment of first Critical Illness benefit under the policy. The maximum benefit amount under Critical Illness cover to any individual is INR 5,000,000 including all policies that are issued by the Insurer.The minimum age of entry for SBI Generals Critical Illness Insurance Policy is 18 years, while the maximum age is 65 years.Plan OptionsThe SBI Generals Critical Illness Insurance Policy is available in two Plan Options 1 Year Plan 3 Year PlanThe minimum coverage available under this policy is for Rs.2,00,000 and the maximum is for Rs.50,00,000 subject to the following terms. 1) The maximum sum insured would be restricted to 60 months gross income for the Insured or maximum of Rs.50,00,000/- provided, proposer is the earning member of the family and in such cases, we may insist for income proof, if required.2) In case of non earning Insured sum insured would be restricted to 50% of Sum Insured up to a maximum of Rs.10 lacs based on the Income of the proposer.3) Based on Medical history, Sum Insured & age, the proposer may have to undergo a Medical Examination. For proposed insured persons who are aged above 45 years, the acceptance of proposal is subject to a satisfactory medical examination as per our companys requirements, irrespective of sum insured chosen.4) Pre-acceptance medical tests will be at the cost of the proposer. However, if the proposal is accepted the Insurer will reimburse 50% of the cost incurred towards the medical tests so undertaken at the advice of the insurer.5) The Maximum Sum Insured would be restricted to Rs.15, 00,000/- for insured persons aged 60 and above and taking a policy with us for the first time.

7. TRAVEL INSURANCEWhether you travel alone, with family or business associates, you would certainly want your trip abroad to be as per your plan. Despite all that careful planning, there may be unforeseen events beyond your control. This may take your peace of mind and put you completely out of control.SBI Generals Travel Insurance (Business and Holiday) provides comprehensive cover for you and your family when you are globetrotting. It covers you against medical and other financial emergencies during your trip abroad and help restore your peace and be in control of the situation.Travel in peace anywhere in the world with SBI Generals Travel Insurance Policy.

TRAVEL INSURANCE

CoverageOur Travel Insurance is one of the most comprehensive policies in the industry. It covers expenses incurred for medical treatment of illness, disease contracted or injury sustained during an overseas travel and which is primarily in the nature of an emergency and necessary to be undertaken immediately along with other related coverages.

SectionCoveragesBenefits (in US $)Deductible

AMedical Expenses including Evacuation & Repatriation50,000 to 5,00,000US $ 100

A-iPersonal Accident Travel Support10% of Limit of cover under Section (A) subject to maximum 25,000Nil

A-ii1. Loss of Passport2000 on Floater basis5% of claim amount

2. Golfers Hole-In-One5% of claim amount

3. Home Burglary Insurance5% of claim amount

4. Loss of Checked Baggage5% of claim amount

5. Trip Cancellation5% of claim amount

6. Trip Curtailment5% of claim amount

7. Missed Connection5% of claim amount

8. Delay of Checked Baggage (Baggage delay payment at the rate of US $ 200 per 12 hrs)First 12 hrs

9. Hijack Cover (Hijack Cover at the rate of US $ 200 per 24 hrs)First 24 Hrs

10. Trip Delay (Trip Delay at the rate of US $ 200 per 12 hrs)First 12 hrs

11. Hospitalisation Daily Allowance (cash at the rate of US $ 50 per day)First one day

12. Bail BondNot Applicable

13. Emergency Cash AdvanceNot Applicable

BPersonal Liability50% of the Limit of cover under Section ( A ) or 2,00,000, whichever is lower.US $ 100

Period of insurancea) Single Trip:- Policy can be issued for minimum 1 day up to a maximum of 180 days duration.b) Multi Trip:- Policy will be issued only for one year and not for any duration shorter or longer than one year.

How to extend the policy duration?With prior approval of the Insurer and on payment of extra premium:- Extension in Policy duration is only permissible in single trip insurance for a maximum 180 days subject to the condition that total Policy duration after extension shall not be more than 270 days.The premium for extension of Policy duration will be difference of full extended period premium minus premium received till date.Automatic extension:- This extension is over and above extension of the Policy duration after prior approval for a period not exceeding 7 days if necessitated by delay of public transport services beyond the control of the Insured person. This automatic extension will be free of any charge.General exclusionThe Company shall not be liable to pay under the Policy for the following:1. No claim will be paid where the Insured person: is travelling against the advice of a Physician: or is receiving or on a waiting list for specified medical treatment declared in the Physician's report or certificate; or is travelling for the purpose of obtaining treatment; or has received a terminal prognosis for a medical condition.2. No claim will be paid if arising from suicide, attempted suicide or wilfully self inflicted injury or illness, mental disorder, anxiety, stress or depression, venereal disease, alcoholism, drunkenness or the abuse of the drugs, or any loss arising directly or indirectly from any injury, illness, death, loss, expenses, or other liability attributable to HIV (Human Immunodeficiency Virus) and/or any HIV related illness including AIDS (Acquired Immune Deficiency Syndrome) and/or any mutant derivative or variation thereof however caused.3. No claim will be paid if arising from the Insured person taking part in Naval, Military or Airforce operations.4. No claim will be paid if arising from War, invasion, acts of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition of or destruction of or damage to property by or under the order of any government or local authority.5. The Insurance does not cover any claim arising from the loss or destruction or damage to any property whatsoever or any loss or expenses whatsoever resulting or arising there from or any consequential loss directly or indirectly caused by or contributed to by or arising from

ionising radiation or contamination by radioactivity from any nuclear waste from the combustion of nuclear fuel; or the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.6. No claim will be paid which arises from the Insured person engaging in Air Travel unless he or she flies as a passenger on an aircraft properly licensed to carry passengers. For the purpose of this exclusion, Air Travel means being in or on, or boarding an aircraft for the purpose of flying therein or alighting therefrom following a flight.7. No claim will be paid arising from the participation of the Insured person in winter sports, mountaineering (where ropes or guides are customarily used), riding or driving in races or rallies, caving or potholing, hunting or equestrian, skew diving or other underwater activity, rafting or canoeing involving white water rapids, yachting or boating outside coastal waters (2 miles). Further no claim will be paid in case Insured person participates in professional sports or any other hazardous sports, unless specifically covered as an extension of the Policy.8. No claim will be paid for losses arising from accidents on two wheeled motorised vehicles unless at the time of the accident the driver is duly qualified, is in possession of a current full International driving license and the Insured person is wearing a safety crash helmet.9. No claim will be paid for losses arising directly or indirectly from manual work or hazardous occupation, or if engaging in any criminal or illegal act.10.Pre-existing Disease: The Policy is not designed to provide an indemnity in respect of medical services, the need for which arises out of a pre-existing disease.

8. FIRE INSURANCE

1) Fire insurance

Standard Fire and Special Perils InsurancesTake Control of your business's destiny with the help of SBI General Insurance:With product like Standard Fire & special Perils Insurance Policy, you can safeguard your assets that you value most.Basis for Indemnity - As the Policy can be availed of either on Market Value or on Reinstatement Value of the property being insured, the basis of indemnity also differs accordingly. In either case, if the Sum Insured is less than the amount required to be insured, the Company will pay only in such proportion as the Sum Insured bears to the amount required to be insured. Every item (if more than one) shall be subject to this condition separately. FIRE INSURANCE

The fire insurance as the business of effective , otherwise than incidentally, to some other class of insurance business, contracts of insurance against loss incidental to fire or other occurrences customarily included among the risks insured against in fire insurance policies.

A) Coverage1) This Policy covers various assets like Building, Plant and Machinery, Stock, Furniture, Fixtures and other immovable and movable assets against loss or damage due to,2) Fire3) Lightning4) Explosion / Implosion5) Aircraft Damage6) Riot, Strike, Malicious Damages and Terrorism7) Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornodo, flood, inundation,8) Impact damage9) Subsidence, Landslide and Rock slide10) Missile Testing operations11) Bush Fire12) Bursting and/or overflowing of Water Tanks, Apparatus and Pipes13) Leakage from Automatic Sprinkler Installations14) Further, on payment of additional premium, the following additional coverage can be opted15) Architects, Surveyors and Consulting Engineers fees (in excess of 3% of claim amount)16) Debris Removal (in excess of 1% of claim amount)17) Deterioration of Stock in Cold Storage18) Forest Fire19) Impact Damage by insured's own vehicles etc.20) Spontaneous combustion21) Omission to insure Additions, Alterations or Extensions22) Earthquake (Fire and Shock)

23) Spoilage Material Damage Cover24) Leakage and Contamination Cover25) Loss of Rent26) Alternative Accommodation27) Start Up Expenses28) Terrorism CoverC) Sum insuredProperty can be insured on depreciated cost (Market Value) or replacement cost basis. In order to get full protection, insurance on reinstatement (replacement) basis is recommended. However Stock should be covered only on Market Value basis. The Sum Insured can be reinstated after occurrence of a claim for the balance period of the Policy.

2) Consequential Loss (Fire) InsuranceTake Control of your business's destiny with the help of SBI General Insurance:Life is full of surprises. Some are pleasant and some are not. Disasters like Fire and special perils can put a break in your growth plan.They also put huge financial burden on you. SBI General Insurance can help successfully overcome these situations and put you firmly in control of your business.SBI General Insurance can help successfully overcome these situations and put you firmly in control of your business. With SBI General Consequential Loss (Fire) Insurance Policy, you can now safeguard your business profits against possible loss due to business interruption.Insurance policies generally cover the costs of repairing or replacing damaged property. But, the financial loss suffered due to an interruption in your business operation is not covered under these material damage policies - you need a Consequential Loss policy.SBI General's Consequential Loss (Fire) Insurance Policy offers the solution, by covering profit lost following an interruption to your business which inevitably results from damage to insured property. This Policy can be taken only in conjunction with a policy that insures your assets (such as an SBI General's Standard Fire and Special Perils policy), and triggers only if the loss is admissible under that policy.

Indemnity period - The indemnity period commences with the date of damage and lasts till such time as the business is restored to its pre-damage level or the end of the indemnity period is reached whichever comes first. A consequential loss insurance policy insures earnings end of the indemnity period is reached, indemnity period. Hence, selection of the indemnity period is of utmost importance.

A) Scope1) The scope and purpose of consequential loss insurance is therefore:2) To make good the loss of net profit that results from a stoppage of business following loss or damage to your insured property.3) To pay the standing charges which continue to accrue in spite of stoppage of business.4) To pay the additional expenditure you may incur to maintain normal business activity, during the period in which the business is affected.B) Coverage detail1) Further, on payment of additional premium, the following coverages can be selected:2) Supplier's extension3) Customer extension4) Failure of Public power supply/Gas works/water works5) Spoilage Risk extension

C) Sum insured1) The Sum Insured is based on the gross profit of the business. Gross Profit is defined as the sum of Net Profit and insured standing charges.2) Damage could occur at the very end of the period of insurance. In order to provide for an adequate Sum Insured, profit projection must be made one year beyond the Indemnity period. Thus if the indemnity period is 24 months, projections for the next three years should be considered in arriving at the Gross Profit figures.3) Additional Items which can be incorporated as part of the Sum Insured,4) Wages5) Insurance of lay off and/or retrenchment compensation6) Auditors fees

9. MARINE INSURANCE

Marine insurance basically cover two risk areas , namely, marine cargo and marine hull. The risks which these areas are exposed to are collectively known as perils of the sea. These perils include theft, fire, collision etc.

MARINE INSURANCE

An agreement whereby the insurer undertakes to indemnify the assured, in the manner and to the extent thereby agreed, against losses incidental to marine adventure. It may cover loss or damage to vessels, cargo or freight.

1) Marine Cargo InsuranceWe are living in a world of Boundryless Business. As you continue to expand the business horizon, you are also increasingly exposed to the risks that are associated with transit of goods. Your biggest challenge is to put in place a suitable Risk Management, so that you can confidently move ahead fulfilling your dream of expanding your business horizon.SBI General Insurance can help you to successfully overcome these situations and put you firmly in control. With SBI General's Marine Cargo Insurance Policy you can safeguard yourself from risks associated with transit of goods. A) Coverage1) The Policy covers any accidental loss or damage to the cargo described in the Policy schedule whilst in transit by perils named in institute clauses

2) Type of Coverage under marine cargo insurance is determined by the mode of transport and requirements of customers as given below:3) Transit by Sea / Inland Waterways / Coastal Waters.4) Coverage provided under this type will be as per institute clauses which are uniformly used in international markets.Three types of coverage are offered for such transit:5) All Risk Institute Cargo Clause A (Cargo)6) Basic Cover Institute Cargo Clause B (Cargo)7) Fire and Lightning Institute Cargo Clause C (Cargo)8) Transit by Air - Coverage provided for transit of goods by air is on All Risk basis as per Institute Cargo Clause (Air).9) Transit by Rail / Road - Coverage provided for inland transit of goods is classified in to three categories:10) All Risk - Inland Transit (Rail / Road) Clause A11) Basic Cover - Inland Transit (Rail / Road) Clause B12) Fire and Lightning - Inland Transit (Rail / Road) Clause C13) Transit by Registered Post / Courier - Coverage for transit of goods by Registered Post / Courier etc will not be provided on standalone basis. Such coverage shall be granted in conjunction with transit by Sea / Rail / Road / Air.

2) Marine hullMarine hull policy provides protection against damage to ship caused due to the perils of the sea. Marine hull policy covers three-fourth of the liability of the hull owner (ship owner) against loss due to collisions to sea. T he remaining 1/4th of the liability is looked after by association formed by ship owners for the purpose (P and I clubs).

10. PACKAGE INSURANCE

1) Industrial All Risks Insurance.Every successful business needs complete protection against potential loss. Industrial units are exposed to host of risks which can put a break in operation, cause financial burden and leave you hopelessly out of control. SBI General Insurance can help you successfully overcome these situations and put you firmly in control of your business operation and dream. With product like SBI General Industrial All Risks (IAR) Insurance Policy, you can safeguard your assets that you value most.SBI General Industrial All Risks (IAR) Insurance Policy is targeted at corporate across Industries (large and mid size).. A) Coveragei) Sum insured limits applicable to property typesii) The coverage is on all risk basis subject to specific exclusionsiii) There are two Sections in the Policy : Section I - Material Damage and Section II - Business InterruptionB) Featuresi) All risks cover - broad coverage to the customerii) Two-part (sectionalised) policy, removing the need for separate policies to be taken by the customeriii) Basis of valuation (other than stock ) is on Reinstatement Value basisC) Add on coveragei) Agreed Bank Clauseii) Architects, Surveyors and consulting engineers fees clauseiii) Designation of Property Clauseiv) Escalation Clausev) Omission to insure additions, alterations & extensions clausevi) Temporary removal of stocks clause

2) Business Package InsuranceYour business is the symbol of your achievement and fructification of your dream. In spite of best efforts, sometimes accidents do occur resulting in huge financial loss and upset your dream. With SBI General you can be in control and safe guard your dream. At SBI General we believe being with our customers at every step and help them take control. With SBI General's Business Package Insurance Policy you can take on the challenges life throws at you with confidence.

PACKAGE INSURANCE

A) Product featureSBI General fully understands growing businesses like yours need the flexibility. Hence we allow the customers to select the combination of Sections under which they would like to cover the risks. We also provide the flexibility for you to choose the basis of indemnity depending on the sections selectedB) Scope 1) This Policy, being a Package Policy contains seven covers packaged in a single policy form.2) Section I - Fire and Allied Perils (Compulsory Section) - It covers building/s, plant and machinery, furniture, fixtures and fittings, electrical installations and stock and stock-in-trade against fire and allied perils.

3) Section II - Business Interruption (Optional Section) - It covers loss due to interruption or interference with the business carried on by the insured at the premises specified and covered under Section I, in consequence of loss, destruction or damage indemnifiable under Section I.4) Section III - Machinery Breakdown (Optional Section) - It indemnifies the Insured against unforeseen and sudden physical damage caused by and/or solely due to electrical and/or mechanical breakdown of electrical and mechanical appliances, apparatus or gadgets specified in the Schedule5) Section IV- Electronic equipments / appliances (Optional Section) - It covers loss or damage to:6) IV (A): All Electronic equipments like Computers, Medical, Biomedical, Micro- processors; Audio/Visual equipments including the value of Systems Software7) IV (B): External Data Media8) IV(C): Increased Cost of Working9) SECTION V - Burglary and Housebreaking (Optional Section) - It covers any loss or damage to the insured property by Burglary, Housebreaking or hold up and damage caused to the premises resulting from Burglary and/or Housebreaking.10) Section VI - Money Insurance (Optional Section) - indemnifies the amount of loss of Money belonging to the Insured against theft or loss, destruction or damage caused by any accident, not otherwise excluded11) Section VII - Plate Glass Insurance (Optional Section): - indemnifies the Insured in respect of any accidental loss of or damage caused to Plate Glass at the Insured Premises

11. CONSTRUCTION / ENGINEERING

CONSTRUCTION INSURANCE

1) Contractors All Risk Insurance

Every Project under development need complete protection against potential loss. Projects under development are exposed to host of risks which can put a break in operation, cause financial burden and leave you feeling you have no control. SBI General Insurance can help you to successfully overcome these situations and putyou firmly in control of your business operation. With SBI General's Contractors All Risks (CAR) Insurance Policy, you can safeguard your projects that you value most. A) Coverage1) There are two Sections in the Policy.2) Section I - It provides coverage for the property lost, damaged or destroyed by any cause, other than those specifically excluded in the Policy, necessitating replacement or repair. The

Policy will pay or make good all such loss or damage up to an amount not exceeding the sum specified in respect of each of the items and not exceeding in the whole the Total Sum Insured.3) Section II - provides coverage towards: a)legal liability for accidental loss or damage caused to property of other persons b) legal liability for fatal or non-fatal injury to any persons other than the Insured's own employees or workmen or employees of the owner of the works or premises due to construction of any property.4) The Policy also provides for payment of - a) All cost and or expenses of litigation recovered by any claimant from the Insured. b) All cost or expenses incurred by Insured with the written consent of the company.

CONTRACT INSURANCE

B) Add On coverage1) On payment of additional premium, the following coverages may be selected2) Provision for escalation3) Clearance And Removal Of Debris4) Additional Rate For Express Freight (Air Freight Excluded) Holiday And Overtime Rates Of the Wages

5) Additional Rate For Air Freight Only6) Additional Custom Duty7) Construction Machinery Plants And Equipments8) Loss Due To Breakage Of Glass9) Storage Rate At Fabricators Premises/Workshop10) Maintenance Visits and Extended Maintenance Cover 2) Contractors Plant & MachineryEvery Project need complete protection against potential loss. Especially the contractors Plant and Machineries used at Project sites are exposed to host of risks which can put a break in your Project implementation, causing financial burden and stress. SBI General Insurance can help you to successfully overcome these situations and put you firmly in control of your projects. With SBI General's Contractors Plant and Machinery Policy, you can safeguard your Plant and Machinery that you value most. A) Coverage details1) The Policy pays for unforeseen and sudden physical damage caused to the Contractors Plant and Machinery at the Insured location due to any perils other than those which are specifically excluded under the Policy.2) On payment of additional premium, the following among other coverage's can be opted3) Express Freight4) Air Freight5) Owner's Surrounding Property6) Clearance and removal of debris7) Additional Custom duty8) Escalation9) Third Party Liability10) Equipment Mounted on Floating Vessel / Craft11) Terrorism

B) Sum insured1) Sum Insured The Sum Insured shall be equal to the cost of replacement of each item by a new item of the same kind and capacity which shall mean its current new replacement cost including ordinary freight, customs duty, other charges, if any, and cost of erection2) The Policy Schedule will include a list of all the items of the Contractors Plant, Machinery and Equipment with a separate value against each. The same is applicable in case of multiple locations.3) Erection All Risks InsuranceEvery Project under erection needs complete protection against potential loss. Projects under erection are exposed to host of risks which can put a break in implementation, cause financial burden and leave you feeling you have no control. SBI General Insurance can help you to successfully overcome these situations and put you firmly in control of your projects. With SBI General's Erection All Risks (EAR) Insurance Policy, you can safeguard your projects that you value most. A) Product feature1) This Policy offers comprehensive insurance for erection projects and provides cover during Storage, Erection and Testing of property at the insured site2) The Policy is provided for the entire period of the project rather than on an annual basisB) Coverage1) There are two Sections in the Policy.2) Section I - provides coverage for the property lost, damaged or destroyed by any cause, other than those specifically excluded in the Policy, necessitating replacement or repair. The Company will pay or make good all such loss or damage up to an amount not exceeding the sum specified in respect of each of the items and not exceeding in the whole the total Sum Insured specified.3) Section II - provides coverage towards: a) legal liability for accidental loss or damage caused to property of other persons b) legal liability for fatal or non-fatal injury to any persons other than the Insured's own employees or workmen or employees of the owner of the works or premises due to construction of any property.4) The Policy also provides for payment of: a) All cost and or expenses of litigation recovered by any claimant from the Insured. b) All cost or expenses incurred by Insured with the written consent of the Company.

C) Add On coverage1) On payment of additional premium, the following coverages may be selected2) Provision for escalation3) Clearance And Removal Of Debris4) Additional Rate For Express Freight (Air Freight Excluded) Holiday And Overtime Rates Of the Wages5) Additional Rate For Air Freight Only6) Additional Custom Duty7) Construction Machinery Plants And Equipments8) Loss Due To Breakage Of Glass9) Storage Rate At Fabricators Premises/Workshop10) Maintenance Visits and Extended Maintenance Cover 4) Machinery Breakdown InsuranceTake Control of your business's destiny with the help of SBI General Insurance Life is full of surprises. Some are pleasant and some are not. As you continue to expand your business horizon, you are also exposed to the risks that are associated with Machinery Breakdown that can put a break in your growth plan. SBI General Insurance can help you to successfully overcome these situations and put you firmly in control of your business.With SBI General's Machinery Breakdown Insurance Policy, you can safeguard your Machineries. A) Sum insuredThe Sum Insured shall be equal to the cost of replacement of the insured property by new property of the same kind and same capacity which shall mean its replacement cost including freight and customs duties, if any, and erection costs. Each Sum Insured shall be separately declared for each and every item of machinery specifying the location.

B) Scope1) The Policy pays for unforeseen and sudden physical damage caused to the machinery mentioned in the policy schedule at the covered location due to any perils other than those which are specifically excluded under the policy.2) On payment of additional premium, the following additional coverage's can be opted for3) Express Freight4) Air Freight5) Owner's Surrounding Property6) Clearance and removal of debris7) Additional Custom duty8) Escalation9) Third Party Liability

5) Boiler & Pressure Plant InsuranceLarge Industrial establishments like yours are the lifeline for our economy. They contribute enormously to the growth and prosperity of our nation. It is critical to protect these lifelines as they fuel the dream of our nation. With SBI General's Boiler & Pressure Plant Insurance Policy, you can safe guard your dream as well as that of our nation. At SBI General we believe being with our customers at every step and help them be in control.Sum Insured Calculation - The Boiler and/or Pressure Plant is to be covered for their current day new replacement value in order to avoid under-insurance. A) Key benefits1) Protects the Boilers and other Pressure Plants against the risk of any damage to it2) Protects the surrounding property3) Covers against the accidental death or injury4) Specific expenses incurred due to loss or damage to the insured items.

B) Scope1) The Policy covers the insured Boiler and other Pressure Plants against the following risks:2) Damage to the Boiler and/or Pressure Plant described in the Policy Schedule due to accident (other than by fire)3) Damage to surrounding property of the Insured described in the schedule or property held in trust or on commission for which the Insured is responsible due to accident to the insured property (other than by fire)4) Liability towards death of or bodily injury to any person or damage to property not belonging to the Insured in the event of explosion or collapse of the Insured Boiler/Pressure Plant.5) Further, on payment of additional premium, the following coverages can be extended to cover expenses relating to:6) Express Freight, Holiday and Overtime Rates of Wages7) Air Freight8) Owner's Surrounding Property9) Additional Custom Duty

C) Warranties1) The cover under the Policy is subject to the following warranties:2) The Boilers and Pressure Plants are to be annually inspected by Inspectors appointed by the appropriate Government.3) The Boilers and Pressure Plants shall only be operated by Attendants holding a valid certificate of competency issued under the appropriate Boiler Act;4) The Insured shall be in possession of the unqualified permission in writing of the competent Inspecting Authority to operate the said Boilers and Pressure Plants. If the maximum pressure or load upon safety valve immediately prior to any explosion or collapse was in excess of that stipulated by the said Authority the Insured shall not be entitled to any compensation or indemnity.

6) Electronic Equipment InsuranceEvery successful business be it a large corporation or a SME, needs complete protection against potential loss. Modern businesses use lot of electronic Equipments like Computers, Servers, Audio/Video and security equipments and Industry specific Electronic Equipments that are exposed to various risks. Any damage or breakdown to them can put a break in your growth plan by putting a financial burden and stress. SBI General Insurance can help you successfully overcome these situations and put you firmly in control of your business, equipments and your dream of making it big. With product like SBI General's Electronic Equipment Insurance Policy, you can safeguard your Electronic Equipments that you value most. A) Scope1) The Policy is divided into three sections - Material Damage (Equipment), External Data Media and Increased cost of working.2) Section I - Material Damage: The policy pays for physical loss or damage caused to the equipments covered under the policy, necessitating repair or replacement, due to any cause, other than those specifically excluded under the Policy.3) Section II - External Data Media: If the external data media and the information stored in such media, which can be directly processed in EDP systems suffers any material damage due to the peril covered under Section 1 of this Policy, the Company will indemnify the Insured for such loss or damage. This cover is applicable while the insured data media are kept on the Premises. Coverage against restoration of data under this Section will be granted only if backup system is available.4) Section III - Increased Cost of Working: The Company will indemnify the Insured for all additional costs which the Insured incurs to ensure continued data processing on substitute equipment if such costs arise as an unavoidable consequence of an indemnifiable loss or damage to property insured under the Section I of this Policy.B) Sum insured1) Section I - The Sum Insured shall be equal to its replacement cost including freight, dues and customs duties, if any and erection costs. The Sum Insured of the equipment insured under this section shall include the value of System Software.2) Section II - The Sum Insured shall be the amount required for restoring the insured external data media by replacing lost or damaged data media by new material and reproducing lost information.

3) Section III - The 'indemnity limit per hour' and total sum insured stated in the schedule shall be declared by the Insured. The total Sum Insured shall represent the aggregate limit of indemnity payable for all events occurring during the period of insurance. 7) Consequential Loss (Machinery Breakdown)Take Control of your business's destiny with the help of SBI General Insurance SBI General Insurance can help you to successfully overcome these situations and put you firmly in control of your business. With SBI General's Consequential Loss (Machinery Breakdown) Insurance Policy, you can safeguard your business profits against possible loss due to business interruption.Indemnity Period - The indemnity period commences on the date of damage and lasts until such time as the business is restored to its pre-damage level or the end of the indemnity period is reached, whichever comes first. A consequential loss insurance policy insures earnings of the business lost during the indemnity period. Hence, selection of the indemnity period is of utmost importance. A) Scope1) The scope and purpose of consequential loss insurance is:2) To make good the loss of net profit due to stoppage of business as a result of an insured peril.3) To pay the standing charges which continue to accrue in spite of stoppage of business4) To pay the additional expenditure incurred by the insured to maintain normal business activity, during the period in which the business is affected.5) Further, on payment of additional premium, the following coverage's can be opted:6) Supplier's extension7) Customer extension8) Failure of Public power supply/Gas works/water works9) Spoilage Risk extension

B) Sum insured1) The Sum Insured is based on the gross profit of the business. Gross Profit is defined as the sum of Net Profit and insured standing charges. Additional Items which can be incorporated as part of the Sum Insured :2) Wages3) Insurance of lay off and/or retrenchment compensation4) Auditors fees

12. MISCELLANEOUS

1) Plate Glass Insurance

Modern business premises like yours are the pride of place for you as well as your employees. You have built it with lot of care and passion using some of the best materials including glass. It is critical to protect them as they are the dream workplace. With SBI General's Plate Glass Insurance Policy, you can safe guard your dream business premises. At SBI General, we believe being with our customers at every step and help them be in control by so that they can take on the business challenges with confidence. A) Scope1) This Policy indemnifies the Insured in respect of:.2) Any Accidental loss of or damage caused to Plate Glass at the Insured Premises occurring during the Policy Period, and.3) The cost of erecting any temporary boarding necessitated by such loss or damage to Plate Glass.4) Provided always that the liability of the Company shall in no case exceed the sum insured stated against each item or total sum insured stated in the Schedule.5) Additional Benefit (In-built cover): Following additional coverage's are automatically provided by this policy without any extra premium upto a specified limit:6) Replacing lettering, sign-writing or ornamentation affixed to the broken Plate Glass.7) Replacing burglar alarm tape or wiring affixed to the broken Plate Glass.8) Replacing shatter resistant or reflective film affixed to the broken Plate Glass.9) Replacing damaged window frames, but with due allowance for wear and tear.

B) Coverage details1) On payment of additional premium, the following coverage's can be opted for2) Riot, strike & Malicious Damage

C) Product feature1) Sum insured limits applicable to property types2) Theft cover following forcible entry to premises3) Also includes as standard cover - circumstances when there is no forcible entry, but the theft results from a person who is feloniously concealed on the premises, commits the theft and then exits the premises, and there is evidence of forcible or violent exit.4) Also includes as standard cover - theft consequent upon threat of immediate violence or violent intimidation.

D) BenefitsSBI General Burglary Policy covers theft of property (content and Stock) at business premises following forcible or violent entry to the premises.

Coverage details 1) A series of automatically provided additional benefits will be included within standard policy coverage2) Clothing and personal effects damaged / stolen in a burglary3) Automatic reinstatement of the sum insured to the originally selected level, following a loss upon payment of the appropriate pro-rate additional premium once during any one period of insurance4) Damage to safe and or strong room upto a specific limit5) Lump sum benefit for death or injury resulting during the theft2) Burglary InsuranceEvery successful business be it a medium enterprise or a retail store, needs complete protection against potential loss. Incidence like burglary can put a break in your growth plan by putting a financial burden. SBI General Insurance can help you successfully overcome these situations and put you firmly in control of your business and dream of making it big without any hitch. With SBI General Burglary Policy, you can safeguard your assets that you value most. SBI General's Burglary Policy is targeted at all businesses - small or large and across all segments and industries. SBI General's Burglary Insurance Policy is a product that may be purchased as a distinct stand - alone product, or, when purchased within a suite of SBI General policies, can provide very extensive coverage. 3) Money InsuranceEvery successful business be it a medium enterprise or a SME, needs complete protection against potential loss. In business, handling money, be it in transit or in cash counters or in your safe often causes anxiety for everyone. Incidence like burglary or theft make you feel helpless. SBI General Insurance can help you successfully overcome these situations and put you firmly in control of your business and dream of making it big. With SBI General Money Policy, you can safeguard your Money no matter where it is. SBI General's Money Policy is targeted at all businesses - small or large and across all segments and industries. The SBI General's Money Insurance Policy is a product that may be purchased as a distinct stand-alone product, or, when purchased within a suite of SBI General policies, can provide very extensive coverage.

MONEY INSURANCE

A) Coverage detailSBI General Money Policy covers theft of money (as defined) or loss, destruction or damage caused by an accident, not otherwise excluded.B) Product feature1) A series of automatically provided additional benefits will be included within standard policy coverage2) Bank Holiday increase - automatic increase in limits (with no additional premium charge) on the next business day following bank holiday3) Automatic reinstatement of the sum insured to the originally selected level, following a loss, upon payment of the appropriate pro-rata additional premium once during any one period of insurance4) Lump sum benefit for death or injury resulting during theft or attempted theft

4) Claims PhilosophyThe Fast, Fair & Transparent Claim procedure that will keep you in controlSBI General's dedicated and experienced claims team aim to deliver you a differentiated customer service of a fast, fair, convenient and transparent claims process for the management and settlement of your claim.At SBI General, our philosophy is to always look for ways to pay valid claims in a fair and timely manner. Our claims service will: Provide assistance in emergency situations Relieve the stress of a claim by co-ordinating repair and replacement of your assets Keep you informed of the progress of your claim Provide you with the choice of accessing our preferred local service providersWhat's more, our skilled staffs are empowered to act and make decisions, so that your claim is processed as quickly and efficiently as possible. This should help you get back in control as quickly as possible.

13.PRIMARY DATA

Q1. Name of sbi general insurance manager in Bhiwandi Branch?ANS:- SBI general insurance manager name is suhas dadve.

Q2. When sbi starts general insurance?ANS:- SBI general insurance started financial year 2010-2011.

Q3. Which types of general insurance provided by sbi?ANS:- SBI general insurance provided by car insurance, health insurance, marine insurance, fire insurance, etc.

Q4. How many branches in sbi general insurance?ANS:- 14000 branches in sbi general insurance.

Q5. How many agents in sbi general insurance?ANS:- Today sbi general distribution family includes over 11000 IRDA certified sbi and its associated bank employees and over 4800 agents.

Q6. Agent personally visit the customers?ANS:- Yes, agent personally visit the customers.

Q7. Which product mostly used in sbi general insurance?ANS:- Car insurance mostly used in sbi general insurance.

Q8. What are the different premium?ANS:- Rs 100 p.a. for Rs 2 lacks cover, Rs 200 p.a. for Rs 4 lacks cover, Rs 500 p.a. for Rs 10 lacks cover, Rs 1000 p.a. for Rs 20 lacks cover.

Q9.What is current scenario of sbi general insurance?ANS:- The sbi general insurance current scenario is very good.

Q10. Any new schemes for sbi general insurance customers?ANS:- 1) Premium starting at Rs 1300 per year. 2) No medical test up to age of 65 years. 3) 142 days care procedures covered. 4) Cashless treatment at over 3000 + network hospitals. 5) Wide coverage from Rs 100000 to 500000. 6) Guaranted renewal.

14.ANNEXURE

Q1. Name of sbi general insurance manager in Bhiwandi Branch?Q2. When sbi starts general insurance?Q3. Which types of general insurance provided by sbi?Q4. How many branches in sbi general insurance?Q5. How many agents in sbi general insurance?Q6. Agent personally visit the customers?Q7. Which product mostly used in sbi general insurance?Q8. What are the different premium?Q9.What is current scenario of sbi general insurance?Q10. Any new schemes for sbi general insurance customers?

15.CONCLUSION

This course has defined general insurance and described the types of general insurance products. It has also explained the rules governing provision of general insurance products to customers. You should now be able to: Define basic terminology and explain concepts underpinning general insurance Identify types and objectives of general insurance products Explain rules governing provision of general insurance products.

15. BIBLIOGRAPHY

BOOKS REFFERED

1) Principles and practices in banking and insurance - Jitendra Aherkar2) Innovation in banking and insurance - Romeo s.Mascarenhas

16. WIBLIOGRAPHYWEBSITES

1) www.google.com2) www.sbigeneral.in

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