Higher Compliance for Financial Liability Insurance Online

Financial Liability insurance is catching up the trend with higher compliance in the insurance industry with the market still being small but the growth being tremendous. Financial liability insurance segment has brought a big growth opportunity for general insurers among raising compliance standards along with greater integration of domestic companies with their global peers. This segment is poised to grow annually at over 30% according to the Chief Executive of Bharti Axa Insurance, Amarnath Ananth-anarayanan. 

Read more
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
Higher Compliance For Financial Liability InsuranceHe further added that this growth trend will be supported by the rising overseas operations of domestic companies.
The demand for financial liability insurance products like directors and officers (D&O) liability insurance, errors & ommission products and professional indemnity has been increasing in the recent past.
The financial liabilities insurance segment is attracting interest from corporate houses though it is under Rs 1,000 crore as of now. The corporate houses have given the higher level of investor activism and compliance norms among others.
D&O cover includes all kinds of liabilities arising out of activities like discrimination of any kind or fraudulent actions done by directors or officers, sexual harassment charges, etc., to cover rising claims. So, the companies are looking forward for these types of products.
Sanjay Datta, the head – underwriting and claims, ICICI Lombard, said that Satyam scam has made the importance of financial liabilities products realised. Financial liabilities products are highly demanded from domestic corporates with provisions like class suits and personal liability of independent directors under the new Companies Act.
He further added that things will slowly catch up in D&O segment as well which is a $10-billion market. These products would grow at higher pace with raising investor activism and employee awareness.
The trend is quite positive in this space in spite of being a small segment according to an official from New India Assurance.
The general manager of New India Assurance, S Sampath kumar said that his company is well assured to extract out the benefit of this new growth area.

Types of Term Plans

Life insurance articles

Recent Articles
Popular Articles
What happens if you stop paying life insurance premiums?

03 Jun 2022

Buying the best life insurance plan is a wise and learned...
Read more
Postal life Insurance Tax Benefits

26 May 2022

Postal Life Insurance is the oldest life insurer in the country...
Read more
How to Download PLI Statement Online?

24 May 2022

PLI or Postal Life Insurance was an initiative originally...
Read more
Is Life Insurance an Investment?

24 May 2022

The thumb rule to building wealth is to invest your money in...
Read more
Proposer In Insurance

24 May 2022

To read an insurance policy document properly, you need to know...
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However...
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15...
Read more
PLI Santosh Maturity Calculator
Maturity calculators have proven to be one of the simple tools for digital-savvy insurance buyers. Postal Life...
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s...
Read more
Surrender Value in Insurance
Have you bought a life insurance policy which is not as per your requirement? Are you planning to terminate the...
Read more
View Plans
Download the Policybazaar app
to manage all your insurance needs.