Institution Insurance

EDUCATION INSTITUTES

Education sector is the most rapidly growing industry in India. As an entrepreneur in this sector, you could build a great institution by your sheer hard work and dedication. The society as a whole can benefit from your efforts.
However, any unforeseen event or a calamity like fire, damage to goods along with the priceless life of students and teachers could make you lose precious assets as well as the goodwill. Education Institute Insurance is a complete insurance package product structured specifically for such institutes.
Most educational institutions are at the following risks
Risk to Property
Loss or damage to assets such as buildings, labs, office equipments, motor vehicles, etc. due to fire, natural calamities, accidents and malicious damage, etc.
Risk to Students
Accidents within and outside campus, diseases, food poisoning, even death
Liability Risks
Liability towards third party against any accident, injury and loss of property within campus
Risks to Manpower
Accidents at work (in campus or outside campus), diseases and illness, etc.
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

HOSPITALITY

The Indian tourism and hospitality industry experienced a growth of 24.6% in the year 2009-2010. According to the Planning Commission, tourism industry is the third largest foreign earner and it this contributes 6.2% to GDP and 8.8% to India’s total employment.
With India undergoing major liberalization and globalization there is huge influx of foreign tourists in India.
As the business opportunity and demand is increasing so is the risk associated with the industry like.
  • Creating a safe environment
  • Material damage of business assets
  • Hotel public and products liability
  • Machinery and electrical breakdown
  • Fidelity by staff
  • Risk associated with food and beverages served
  • Terrorism
  • Other security concerns
  • Cyber Crimes
Hospitality insurance is ideal for
  • Hotels, resorts,
  • Pubs, lounges, restaurants
  • Health and fitness clubs
  • Travel companies
  • Tourists attractions
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

LOGISTICS & TRANSPORTATION

The Indian logistics industry is experiencing a strong growth fuelled by a growing economy. It is expected to continue to grow in the coming years. Driven by changing lifestyles and growth in income, the retail sector is growing at a rapid pace, which in turn is fuelling the logistics industry.
In 2010, the Indian logistics segment enjoyed revenues of about $ 82.10 billion, experiencing a growth of about 9.2% over the previous year. By 2020, the Indian logistics industry is expected to grow at a continuous rate of about 8-9% year on year.
The risks specifically attached to the Business related to logistics and transportation
The logistics and transport industry is faced with unique insurance challenges as the delivery time is very tightly scheduled, high costs of replacement of machinery and goods and people in transit. It is very difficult to manage the risk of the business on your own.
Insurance companies today specialize in tailor made insurance solutions to give you peace of mind. With the prevalence of third party logistics where the logistics is totally outsourced to a third party, these new services have also changed the risk profile of the business.
Businesses that should invest in Logistics and Transportation Insurance
  • Private taxi hire and self drive hire
  • Railways
  • Trucks and container transport companies
  • Ports and marine terminals
  • Airports and airline
  • Tour operators
At Best Financial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

MANUFACTURING INDUSTRIES

Industries in the manufacturing sector are exposed to a number of risks to the property and the manpower employed, Business Interruption; such as Loss or damage to
  • Building, Plant & Machinery
  • Machinery due to Mechanical breakdown
  • Goods in transit
  • Employers liability towards employees due to accidents at work place
  • Legal liability under Public liability Act
  • Legal Liability due to faulty Product
  • Loss of Profit due to Business interruption
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need. Contact Us to meet our business experts who will help you ascertain the nature of risks you are exposed to and the best way to mitigate them.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

PHARMACEUTICALS

India has benefited from the introduction of a formal system of product patents because the pharmaceutical industry has witness a substantial change in the way patents are employed. This has been instrumental in the industry’s success as an exporter of high quality generic drugs.
India offers a huge cost advantage for multinational companies to set up research and development units. With such huge setups and productions units, managing risks can be a difficult task.
The risks that the industry is facing are critical and complex, while the claims can be long drawn and spread across geographies. Product performance is the topmost priority because flawed formulations can not only lead to financial damages and legal repercussions but also cost lives
In order to tackle these unforeseen incidents, it is imperative for Pharmaceutical industries to opt for a smart, customized and potent risk mitigation program. Au Insurance Brokers bring to the table, an acute sense about the risks you face and the knowledge and tools to help you select the best risk management policy. We have the financial strength, the reach and the resources to provide the right solutions.
Below are the potential risks faced by the pharmaceutical industry
  • Property Damage including physical damage from natural hazards like flooding, windstorms, earthquakes
  • Liability like products liability, employer and public liability, environmental liability
  • Clinical trials liability - This is a potential risk for the sponsors and doctors
  • Marine cargo and goods in transit
  • Directors and other management liability
  • Engineering and construction risks
  • Business interruption, delay in start-up and advance loss of profits
  • Contractors’ plant and equipment
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

SOFTWARE/BPO/ITES

Indian ITES and BPO industry is witnessing a phenomenal growth, further fuelled by the riding boom in the economy the industry contribution to the Indian GDP is on the rise. As the major reason for the BPO boom is the cost advantage the multinational companies enjoy, with increased pressure on costs the process and the systems have become heavily dependent on technology everything needs to be automated. Most critical functions are performed by automated information systems.
With this dependence on the new technology, the dynamics of the risks have also shifted from man made to more systemic risks. It has become prudent for the companies to seek expert help in identifying the risk and deciding upon the insurance cover.
The most prominent risks faced by the ITES and BPO industry are
  • Cyber Crime
  • System Hacking
  • Directors Legal Liability
  • Damage to Property by Fire, Burglary, etc.
  • Manpower Retention
Insurance solutions for IT/ ITes include
  • Property insurance
  • Professional indemnity- claim arising due to misjudgement by the professional
  • Commercial crime insurance
  • Cyber liability - System damage, business interruption, brand protection
  • Commercial and general liability
  • Group overseas travel insurance
  • Group Mediclaim
  • Group Term insurance
  • Keyman insurance - Death of a keyman, covering more than one keyman
  • Special contingency insurance - kidnap, ransom and extortion
  • Credit risk - insolvency or non payment of dues
  • Political risks - Riots, strike, war, forced evacuation
  • Group Health insurance
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

TELECOMMUNICATIONS

Telecommunication is the fastest growing sector in India’s economy today. The average growth rate in the sector is 20%, which no other sector in the economy is experiencing.
This is because the services are not only limited to basic telephony but have expanded to Internet, wireless communication, broadband, cable TV and very soon into 4G. Correspondingly, the business operational risk has also increased with time, the need for the expert in identifying the risk and protecting the business with a broad based solution has become imperative.
Some inevitable risk faced by telecommunication sector
  • Telecommunication is investing in new technologies and services, which are taking them to uncharted territory, companies have not only had to adhere to basic telephone laws but also to the growing cyber crimes liability.
  • Errors and omissions at switch site and at the core technology centre, which may result in a customer or a service provider doing legal case on the company.
The insurance solution should include
  • Buildings - newly acquired and in the course construction
  • Telecommunication property including equipment and valuable papers
  • Cell site property and property in the course of construction including tower antennas, fencing , earth stations
  • Underground and underwater communication lines including installation
  • Overhead communication lines including installations
  • Mobile telecommunication equipment
  • Telecommunication assets, while in transit
  • Contractors equipments
  • Employees personal property
  • Money and receivables
  • Liabilities - general liability including bodily injury, property damage, railroad liability and automobile liability.
  • Workmen compensation
  • Directors and officers liability
  • Special contingency liability - kidnap, ransom
  • Political risk - civil war, riot, strike
At Best FInancial Solutions, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Best Financial Solutions
www.Bestfinancial.in
bestfinancial@outlook.com
Mob:-91-98123-65866 ,91-9034-929929,91-9728-288786

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