Raheja QBE General Insurance Company Ltd - Raheja QBEIncurred Claim Ratio - 62*
Raheja QBE General Insurance Company is a joint venture between the Prism Cement Limited of Rajan Raheja Group and QBE Holdings Pty Limited of Australia. Prism Cement Limited holds a 74% stake in the company while QBE Holdings has the remaining 26% stake in the general insurance venture. Praveen Gupta is the CEO and Managing Director of Raheja QBE General Insurance Company while Rakesh Sharma serves as the Chief Financial Officer.
Prism Cement Limited is one of India’s top integrated building materials company with a wide range of products such as tiles, cement, ready-mixed concrete, etc. QBE Insurance Group Limited is Australia's largest global insurer and has a presence in more than 45 countries with expertise in handling financial services clients over a long period of time.
QBE Insurance has got A+ rating by Standard and Poor’s Insurance Financial Strength rating which makes Raheja QBE General Insurance Company, a secure option to invest in.
The organisation aims to expand the business through their existing far-reaching networks and acquisitions of insurance businesses, portfolios, and teams of underwriters that meet their stringent criteria for minimum return on equity and EPS accretion in the first year of acquisition.
Raheja QBE Home Insurance Plans:
Raheja QBE Policies offer a flexible range of domestic property insurance, providing financial protection for most people’s largest assets – their home and belongings.
Burglary and Housebreaking Insurance provides financial compensation against loss or damage to property contained in one’s premises by acts of burglary and housebreaking. The insurance policy covers property contained in one’s premises, stocks and goods owned by the insured or held in trust and/or commission. It also covers cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request. The policy can be extended to cover riot, strike, malicious damage and theft by payment of additional premium.
Burglary insurance policy pays for actual loss or damage caused to the insured property due to burglary or housebreaking subject to sum insured limit. If the sum insured is not adequate, only proportionate loss is paid. The policy also has a provision to cover bulk items on ‘first loss’ basis where a percentage of total contents can be taken as that exposed to the risk of burglary and housebreaking. The premium is charged on this selected percentage only.
Raheja QBE’s Standard Fire and Special Perils Insurance covers all properties on land (excluding cost of land) – both moveable and immoveable. The policy can be extended to cover certain additional perils and expenses for an additional premium. It protects one’s financial investment in assets including buildings and their contents if they are damaged due to a long list of perils. In addition, the policy also covers architects, surveyors, consulting engineer fees up to 3% of claim amount and debris removal expenses up to 1% of claim amount.
The scope of the fire insurance policy can be extended by paying additional premium. Major optional extensions available include architects, surveyors and consulting engineer fees in excess of 3% of claim amount, debris removal in excess of 1% of claim amount, impact damage due to own vehicles, forklifts, cranes, spontaneous combustion, omission to insure additions, alterations and extensions, earthquake, leakage and contamination cover, loss of rent and terrorism damage.
Healthcare cost has reached a new height, making health insurance policy a part and parcel of our life. Medical emergencies can knock our door anytime and turn our world upside down leaving us shattered both physically and financial. Health insurance policy is a saviour at this time, covering financial losses during medical emergencies to a great extent.
The Cancer Insurance Policy from Raheja QBE provides considerable financial support to the insured on detection of cancer so that he/she can be adequately treated in time. This policy relieves one from crippling costs of cancer treatment and allows one to lead a normal life with lesser worries.
The Cancer Insurance policy is available to all individuals, starting from 1 day old baby to a 70 years old individual. In case of cancer diagnosis after proper diagnostic investigation or treatment by a qualified medical practitioner or surgeon, the insured is paid 50% of the sum insured or Rs. 2.5 lakh, whichever is less as a lump sum amount on acceptance of claim under the policy. In addition, the insured is also paid reasonable and necessary medical expenses incurred for diagnostic investigation or medical treatment of cancer, in excess of 75% of the amount paid as a lump sum.
Reimbursement of medical expenses is based on submission of original bills only. Reimbursement of claims is made every quarter for actual expenses incurred, until the entire sum insured is exhausted. Sum insured options available under the policy start from Rs. 1 lakh and go up to a maximum of Rs. 10 lakh, in multiples of Rs. 1 lakh.
Car insurance policy covers for losses that might arise if your vehicle gets damaged or stolen. It offers cover against financial liability caused by death/injury of a third party. It is mandated to have a third party liability insurance to ply a vehicle on the Indian road.
To ensure the smooth functioning of your business, it is important to have your vehicles insured. Commercial vehicle insurance protects a business from financial losses arising out of loss or damage to a commercial vehicle.
Accident and disability of a bread earner can create serious monetary problems for the family. A personal accident plan can ensure total security and peace of mind. The policy covers the policyholder against bodily injury or death caused due to accidents.
Personal Accident Insurance:
The Personal Accident Insurance from Raheja QBE provides the insured and his/her family, mitigation against the financial consequences of unforeseeable accidents. It offers defined benefits based on the nature of injury sustained by the insured person in an accident during the policy period. The policy provides for four possibilities of injuries – accidental death, permanent total disablement, permanent partial disablement and temporary total disablement. The compensation benefits depend on the nature of injury and the sum insured under the policy.
Raheja QBE Animal Insurance Plans
The company offers commercial animal insurance plans for traders, groups or people engaged in the animal husbandry business
Cattle and Livestock:
The plan insures against loss suffered due to death or disability of the cattle and livestock due to any accident or diseases contracted or surgical operations. The natural and man-made causes for the accident include fires, lightning, floods, inundation, cyclones, storms, tempests, hurricanes, earthquakes, famines, riots, strikes and civil commotions.
Raheja QBE Corporate Plans
The company offers various plans to cover against any contingencies that may be faced by a corporation or a business
- Accident Corporate
- Commercial Packages
- Commercial Property
- Construction & Engineering
- General Liability
- Professional Liability
- Workers Compensation
It is advisable to compare all Raheja QBE General insurance plans with plans from other General insurance companies in India to choose the best insurance plan that suits you the most.
Raheja QBE General Insurance - Latest News
Raheja QBE General Insurance Company has got the approval from the government of India to transfer its 23 percent equity to QBE Asia Pacific Holdings Ltd, which earlier was held by Prism Cement. This stake sale led to foreign shareholding in the company from 26 percent to 49 percent. Operating as a subsidiary of QBE Insurance Group Limited of Australia, Raheja QBE is a joint venture of Prism Cement Ltd, India and QBE Holdings (AAP) Pty Ltd, which now officially holds 49 percent stake in the company. Along with this stake sale, the government also provided approval to a proposal of Rs. 6,050 crore, which includes Rs. 5,500 crore for the sake of fresh equity infusion by Cadila Healthcare. As per an official, Foreign Investment Promotion Board (FIPB) recommended the government to approve these FDI proposals in a meeting held on December 21, 2015, which amounted to Rs. 6050.10 crore.
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