A corporate insurance can be defined as a type of insurance which can be used by large organizations to cover up various operational risks such as theft, financial losses, employees’ health benefits and accidents. Such an insurance plan is also known as business insurance.
Property of an organization gets damaged by incidents such as natural calamity, fire, worker’s unrest, vandalism etc., is when property insurance comes in handy to help cover the losses. These insurance plans cover all types of incidents with an exception of very few ones under their All-Risk policies.
This type of insurance protects the business from all types of negligence claims and certain mistakes. It differs from one industry to another and is addressed through an industry-specific customized policy. This type of corporate insurance is mandatory for any organization that deals with accounting, finance, consulting, healthcare, law and insurance.
As the name suggest, this is a policy designed to help the workers, employees, if they incur any injury at the time of working in the organisation.. It covers the medical treatment expenses of the employee and provides compensation in case of death or disability of the employee working for the company.
Group Health Insurance offers healthcare benefits to a group of people, i.e. the employees of an organization. Generally, this insurance plan is uniform in nature and offers the same benefits to all the members of the group.
A business which manufactures products for mass consumption in the general market should definitely have Product Liability Insurance. Even if the manufacturer is sure that the products are flawless and safe, they could end up causing damage to someone.