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Commercial Insurance

Financial Lines Insurance Policy

CommercialInsurance

Key Features

Bouquet of covers under single policy

Coverage Highlights

Key Benefits under these plans
  • Safeguard Your Business

Running a business comes with its own set of risks & uncertainties. In an unpredictable world, our Commercial Insurance Policies offers the essential protection you need. Whether you own an Office , Grocery Shop, Motor Dealership, Pharmacy, Jewellery Store, Hardware Shop, Our policies have you covered.

  • Assets Covered

These policies provide coverage for Structure & building, Electrical & electronic equipment's, Furniture fixtures & fittings, stocks etc.

  • All Round Protection for your Business

Provides comprehensive coverage for your business by protecting against a wide range of risks, including property damage, theft and burglary, machinery breakdown, electronic and electrical damages, third-party liability insurance, business interruption, and natural catastrophes

  • Customizable Plans

You can choose from different available packages based on your specific needs, ensuring that you have the right coverage for your property type

Commercial Package Insurance Policy Types

Choose the policy best suited for your requirement
  • Shopkeeper Package Insurance Policy

Comprehensive coverage for your shop, including protection against fire, theft, burglary, machinery breakdown, electronic and electrical damages, third-party liability, business interruption, and natural catastrophes

  • Office Package Insurance Policy

Provides comprehensive coverage for office premises, including protection against fire, theft, burglary, mechanical and electrical breakdowns, business interruption, and public liability

  • Jeweller's Insurance

Comprehensive coverage for jewelry stock, including protection against theft, robbery, fire, shoplifting, and damage during transit or exhibitions

  • Motor Dealers Insurance

Comprehensive coverage for motor dealers, including protection against fire, theft, burglary, business interruption, public liability, machinery breakdown, and damage to electronic equipment

Financial Lines Insurance

The growth and success of your business is not going to be linear and that’s okay. The graph is going to have its fair share of downward spikes and while there’s nothing you can do to do away with that, you can take measures to ensure that they are not too frequent or sharp. We, at Bajaj Allianz, with our Financial Lines Insurance Policy help you do just that.

In today’s highly competitive market and increasingly litigious world, having the back up of Financial Lines Insurance is key to not just the steadiness of your business but also its survival.

A suit filed against your company by any of those you build relationships with, from employees to customers and everyone in between, can have a cascading effect on the performance and profitability of your business.

It’s not uncommon for a company to be sued by their begrudged employee on grounds of wrongful termination or by their client for breach of confidentiality. Such claims can have catastrophic effects on your company.

Our Financial Lines Insurance Policy is specifically designed, after having considered the nuances of all industries and professions, to take care of such varied claims. Our services are tailor-made to suit the needs of all companies, ranging from the largest global multi-nationals to small- and medium-sized enterprises.

We cover most industrial sectors and have a track record of providing Financial Lines Insurance solutions for general commercial clients.

We understand that the market is fast-moving and requires a responsive and up-to-date approach based on a detailed understanding of emerging risks and legal developments. Our people and processes, hence, are aligned to offer you the same.

Our industry experience, teams of expert underwriters and our ability to adapt to the dynamic markets is what helps us assure you that we’ll be there for you when you need us.

Since your business (and its different aspects) is vulnerable to a variety of risks, we offer a range of need-specific Financial Lines Insurance solutions. 

Benefits You Deserve

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Simplified Policy Management

Multiple coverages under single policy, with affordable premium

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Flexible Plan

Tailor your coverage to fit your unique needs

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Extensive Coverage

Protects against diverse risks in a single policy

Directors And Officers Insurance (D&O)

Directors and Officers Insurance (D&O) is one of the most important Financial Lines Insurance cover your company needs to be equipped with. We know that the directors and officers of your company play a very integral role in its success and that all the strategic decisions depend upon them.

We understand that they have to make big decisions, often complex ones, on a daily basis for the growth and development of your company. If your company is operating at an international level, then your directors not only have to keep in mind domestic markets and regulations but also corporate governance and compliance regulations of numerous markets across the globe.

Directors and managers, with such high impact, high pressure roles, can make mistakes and are constantly on the edge. If they have the fear of being held personally liable for them, they may not take risks and risk-taking is essential when you’re running a business. Moreover, they are vulnerable to wrongful allegations from third parties including other employees and stakeholders.

Bajaj Allianz Directors and Officers Insurance (D&O) Policy is carefully designed to protect your directors, officers and senior managerial staff against claims arising out of their decisions and actions taken within the scope of their official duties. We also cover the costs for defence if they face criminal or regulatory charges.

With the help of our Directors and Officers Insurance (D&O) Policy, you and your company can function in an environment of security, knowing that you have us to fall back on.

International Insurance Program (IIPS) For Worldwide Exposures

If your business is international, you already know that so are the risks it faces. You need a partner who offers you global solutions that are customised to take on the growing and complex business risks around the world. We, at Bajaj Allianz, with the help of our International Insurance Programs (IIPs) for worldwide exposures and industry expertise, are just that.

Under this cover of our Financial Lines Insurance, we have designed tailor-made solutions to effectively tackle the multi-national risks of your company, no matter the industry or the size.

We offer local policies that are risk-adequate and that have been issued after taking into account the local regulatory and fiscal rules along with other compliances. These are equipped with a centrally coordinated master policy with harmonised DIC protection.

Our expert teams are equipped to handle risks and apply loss control approaches effectively, so you don’t have anything to worry about and can go ahead and expand your operations in any part of the world. 

Employment Practices Liability (EPLI)

One of the biggest challenges faced by businesses in recent times is being sued by their employees on a plethora of grounds. It’s not just large corporations that face this danger; organisations of all sizes are vulnerable to this risk.

The most common grounds on which employees tend to sue their employers are wrongful termination, discrimination, failure to employ or promote, sexual harassment, wrongful discipline and mismanagement of employee benefit plans.

In such a scenario, Employment Practices Liability (EPLI) is an essential Financial Lines Insurance Policy to have. It offers your company the kind of protection it needs to facilitate you and your management to work with peace of mind without the constant threat of lawsuits.

Prospectus Liability (POSI)

When you want to raise capital from the public or trade your securities in a regulated market, you need to issue a prospectus. The prospectus issued is critical, for if any information mentioned in it is proved to be even slightly inaccurate, the investor can claim the full value of their loss from your company.

Such claims can be made not only at the time of the issue of prospectus but also years later. Hence, every time you make a public offering and issue a prospectus, you are opening your company up to potential liabilities.

Additionally, you and the directors of the company can face civil and criminal charges if its proven that the prospectus contains misleading or inaccurate information.

Yes, such a risk requires you to take great care in preparing your prospectus, but it also calls for the protection of Prospectus Liability Insurance which is a key Financial Lines Insurance Policy.

Our Prospectus Liability Insurance Policy will cover you against liabilities arising out of your issued prospectus.

Commercial Professional Indemnity

If your company offers expert advice to clients, you may already be aware of all the threats the nature of such a business poses, which is why you need to secure your company with the protection of Bajaj Allianz Commercial Professional Indemnity Insurance without delay.

This cover of our Financial Lines Insurance is specifically designed to protect you against claims made by clients on ground of negligence or faulty advice and services. The Professional Indemnity Insurance Policy will also cover the cost of defence for any charges made against your business.

We understand that different professionals and industries require different kinds of protection and accordingly we offer cover for the following:

● Technology: Information Technology, Business Process Outsourcing and Other IT Enabled Services

● Construction Related: Architects, Engineers, Contractors Single Project Professional Indemnity (multi-year)

● Professionals: Accountants, Lawyers, Insurance Brokers, Consultants

Download Policy Document

Get instant access to your policy details with a single click.

Trusted Risk Advisor

Mobile Self Risk Assessment

PRIME Inspection app helps to evaluate quality of your property (Shop, Office, Plant or Others) having SI upto INR 50 crs. It is simple to navigate having multiple Q & A designed for client

Instant Generation of Risk Report

It helps Provide Risk Recommendations, Risk Quality Rating (RQR), Peer Comparison & GAP Analysis for the client

Step-by-Step Guide

To help you navigate your insurance journey

How to Buy

  • 0

    Visit the Bajaj Allianz General Insurance website

  • 1

    Fill in the lead generation form with accurate details

  • 2

    Get quote, make payment and receive the policy documents

How to Renew

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    Contact the Policy Issuing Office

  • 1

    Review expiring policy and share necessary details

  • 2

    Receive renewal quote

  • 3

    Make renewal payment

  • 4

    Receive the renewed policy documents via email

How to Claim

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    Contact us through our customer service touchpoints

  • 1

    Submit the claim form along with the necessary documents

  • 2

    Provide details of the incident and any supporting evidence

  • 3

    Cooperate with the claims investigation process

  • 4

    Receive the claim settlement as per the policy terms

Know More

  • 0

    For any further queries, please reach out to us

  • 1

    Toll Free : For Sales :1800-209-0144

  • 2

    Email ID: bagichelp@bajajallianz.co.in

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What Our Customers Say

Business Eligibility

The policy caters to businesses, from small shops to large commercial establishments. Coverage is designed to protect property, stock, and essential business assets.

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Raj Kapoor

Gujarat

4.9

22nd Dec 2024

Coverage Benefits

The policy provides coverage against fire, burglary, natural disasters, and accidental damage. It ensures complete protection for business premises and assets, giving peace of mind to business owners.

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Meena Sharma

New Delhi

4.7

10th Jan 2025

Buying Bajaj Allianz Commercial Property Insurance

Buying my Commercial Property Insurance from Bajaj Allianz was effortless. The process was clear, quick, and hassle-free. I received my policy instantly, ensuring my business is well-protected. 

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Rajesh Malhotra

Andhra Pradesh

4.8

5th Feb 2025

Customisation and Add-Ons

The policy offers various add-ons like loss of rent cover, debris removal, and architect fees, providing enhanced protection tailored to your business needs.

alt

Rohit Mehta

Uttar Pradesh

4.9

5th Oct 2024

Claim Settlement Process

Bajaj Allianz ensures a quick and transparent claims process. With proper documentation, claims are processed efficiently, minimising business downtime.

alt

Anjali Verma

Rajasthan

4.8

15th Nov 2024

FAQ's

Can I customize my Office Package Insurance policy?

Yes, the policy offers flexible and customizable options for Office Package Insurance. You can tailor the coverage to meet the specific needs of your business, whether that includes protecting office furniture, electronic equipment, or employee welfare. You can also add optional coverage like business interruption, public liability, and employee compensation. Our experts will help you choose the right mix of coverage to ensure that your office is comprehensively protected against various risks.

Does Office Package Insurance cover employee injuries?

Yes, Office Package Insurance includes coverage for employee injuries. Under the Personal Accident Insurance and Employee Compensation sections, your employees are protected in the event of an accidental injury, permanent disability, or death while working at your office. This helps safeguard your workforce and ensures that they receive compensation for medical expenses or disability benefits, giving you peace of mind and protecting your employees’ welfare.

What documents are required to purchase this insurance?

To purchase office package insurance, you will need to provide the following documents: 1. Proof of business registration (e.g., company registration certificate) 2. Proof of office address (e.g., lease agreement or utility bills) 3. List of assets and equipment to be insured (including their value) 4. Employee details (for coverage related to personal accidents and employee compensation) 5. PAN card and GST registration (if applicable) 6. Any previous insurance policy documents (if you are switching insurers) These documents help us understand your business and ensure that your policy is tailored to your specific needs.

Are Legal Liabilities Covered Under Office Package Insurance?

Yes, Office Package Insurance covers legal liabilities under the Public Liability section. This protects your business from claims arising due to accidental bodily injury or property damage caused to third parties while they are on your premises. This includes incidents like a visitor tripping and injuring themselves or damage to third-party property caused by an employee or office operations. This coverage helps you avoid costly legal expenses and settlements, ensuring your business remains protected.

Does Office Package Insurance cover natural disasters?

Yes, Office Package Insurance provides coverage for natural disasters under the fire and allied perils section. This includes events like floods, storms, cyclones, earthquakes, and other catastrophic natural occurrences that may cause damage to your office premises and assets. Whether it’s damage to the building, equipment, or inventory, the policy ensures you’re financially protected, helping your business recover quickly after unforeseen natural events.

Is theft of office equipment covered under this policy?

Yes, Office Package Insurance covers the theft of office equipment under the Burglary and Theft section. This protection applies to office equipment, furniture, and electronics in the event of theft or break-in. The policy compensates for the loss or damage to property caused by unauthorized access, ensuring that your business does not suffer financial setbacks due to stolen assets.

Is office insurance mandatory in India?

Office insurance is not mandatory under Indian law; however, it is highly recommended. Having Office Insurance helps protect your business from unexpected financial losses caused by events such as fire, theft, natural disasters, and accidents. While it’s not a legal requirement, many businesses choose to opt for it to ensure smooth operations, protect valuable assets, and meet client and employee expectations. In certain cases, like securing loans or business leases, you may be required to provide proof of office insurance.

What types of commercial insurance policies are available?

Some common types include property insurance (which covers damages to physical assets), liability insurance (which protects against legal claims), marine insurance (covers goods in transit), cyber insurance (which safeguards against data breaches), and employee benefits insurance (which provides coverage for employees). 

How do I choose the right commercial insurance policy for my business?

Choosing the right policy requires a detailed risk assessment of your business operations. Factors like the nature of the business, asset value, number of employees, regulatory requirements, and industry-specific risks should be considered. Consulting an insurance expert or broker can help tailor a policy.

Can a commercial insurance policy be customised?

Businesses can enhance their coverage with add-ons like business interruption insurance, professional indemnity, cyber security coverage, and extended liability protection. Customisation allows businesses to adapt their coverage to industry risks, operational requirements, and financial concerns, ensuring they remain protected.

What is the validity period of a commercial insurance policy?

Most commercial insurance policies are valid for one year, requiring renewal before expiry to maintain continuous protection. However, insurers also offer multi-year policies that provide long-term coverage and stability. Renewing on time ensures uninterrupted coverage and prevents financial risks due to policy lapses. 

What documents are required to buy a commercial insurance policy?

The required documents include business registration certificates, financial statements, property ownership or lease documents, employee details, and risk assessment reports. For specialised policies like marine or cyber insurance, additional documentation may be required. Ensuring all necessary documents are submitted correctly helps speed up the

How do I file a claim under my commercial insurance policy?

First, the business must immediately notify the insurer about the incident. Next, necessary documents such as claim forms, invoices, FIR reports (if applicable), and evidence of loss must be submitted. The insurer will then conduct an assessment or survey to verify the claim before disbursing the approved amount. 

How long does it take for a commercial insurance claim to be processed

Simple claims like minor property damage may be settled within a few weeks, while larger claims involving legal or financial reviews may take months. Insurers prioritise efficient settlements, but delays can occur due to incomplete documentation, third-party verifications, or policy exclusions. 

What can lead to the rejection of a commercial insurance claim?

Claims can be rejected due to various reasons, such as policy exclusions, late claim submission, incorrect or incomplete documentation, misrepresentation of facts, or failure to meet policy terms. For example, if a business fails to implement safety measures required by the policy, the insurer may deny the claim. 

Can I appeal if my claim is rejected?

Yes, if a claim is denied, businesses can file an appeal with the insurer by submitting additional supporting documents or explanations. If the issue remains unresolved, businesses can escalate it through the insurer’s grievance redressal mechanism or approach the Insurance Ombudsman for further review. 

Does commercial insurance cover natural disasters?

Many commercial insurance policies provide coverage for fire, floods, earthquakes, and other natural disasters. Some businesses may need to purchase additional disaster coverage if their location is prone to specific risks. It is important to check the policy’s exclusions and coverage limits to ensure adequate protection.

When should I renew my commercial insurance policy?

It is recommended to renew a commercial insurance policy at least 30 days before its expiry to ensure uninterrupted coverage. A lapse in policy renewal can expose businesses to financial risks, legal liabilities, and potential penalties. Early renewal also gives businesses time to review coverage and compare policies

Can I modify my coverage during policy renewal?

Yes, businesses can adjust their coverage, increase or decrease the sum insured, add or remove riders, or switch to a different plan during renewal. It is essential to reassess business risks, asset value, and operational changes before making modifications. Consulting an insurance provider helps in choosing the best-suited coverage options.

What happens if I miss renewing my policy on time?

If a commercial insurance policy is not renewed on time, it lapses, leaving the business without coverage. This means any damages, legal claims, or financial losses occurring after policy expiry will not be covered. Some insurers offer a grace period for renewal, but once it expires, businesses may have to apply for a new policy.

Will my premium change during renewal?

Premiums can increase or decrease during renewal based on various factors, including previous claims history, business risk exposure, policy updates, and changes in industry regulations. Implementing safety measures, maintaining a good claims record, and choosing optimal coverage can help businesses negotiate lower premiums. 

Is there a benefit to renewing commercial insurance policy for years?

Yes, opting for a multi-year renewal provides several advantages, such as locked-in premiums, discounts, and continuous coverage without the hassle of annual renewals. Some insurers offer long-term policies with reduced rates, helping businesses save on costs while ensuring uninterrupted protection. 
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