COVID 19 has left a deep business impact with a large number of companies having their Accounts Receivables negatively as cash flows have been affected as a result of a downturned market.

Smart companies that had opted for Trade Credit Insurance were able to minimize this risk, and it could be one of the solutions you are looking for.

What is Trade Credit Insurance?

Insurance that offers protection to a company against losses from non-payment or delayed payments, ensuring cash flow is moving.

Do you need Trade Credit Insurance?

Accounts Receivables generally represent around 40% of a company's assets. Generally, companies insure all physical assets, however 40% of the total assets still remain at risk with roughly one in 10 invoices becoming delinquent.

Post-COVID, these risks have only grown further and stand to pose a threat, if not protected right.

Benefits of Trade Credit Insurance

Primarily, benefit is to protect your company from a client unable to pay for a variety of reasons including deferred pay, bankruptcy, etc.

Here are some additional benefits.

1. Having your company's receivables insured could find positive response from Banks and lending institutions and help secure financing
2. Enhanced credit support by actively monitoring your receivables source's financial stability and correct use of this data could help your determine extent of credit lines to clients, boosting your collections' strategy

When to buy Trade Credit insurance?

In general, businesses that have dynamic collections and spread-out collection cycles opt for Trade Credit Insurance supported with business forecasts accounting at Political/Economic/Social/Trade (PEST) impact levels.

However, post-COVID, a large number of businesses are now opting to evaluate trade credit insurance to ensure no large asset such as accounts receivable remains uninsured should there by any immediate event or unforeseen downturn impact business operations.

How does it all work?

Firstly, we determine what you would like to have coverage for.

Firms can evaluate their business and determine if they wish to protect single client/ source, specific industries, small or large client/ source clusters, and define coverage for the entire base. Relevant insurance options can then be customized to your company's specific needs.

From big brands to sole traders, we offer solutions, not just answers, to protect right.

In today's business dynamics, your insurance cover should be specific to you and your business's risks. Whether you are a startup selling products online from your small office - home office(SOHO) or a large enterprise, nature and complexity of risks associated with every type of business have only grown in recent times. This underlines the need to have the right protection in place.

We have a team of commercial insurance specialists who have been helping businesses like yours to choose the right size, right fit insurance covers you and your business need.

Business insurance protects your business from an array of risks such as:

1. Loss, theft and damage to equipment
2. Property damage
3. Business interruption
4. Employee sickness or injury in the workplace
5. Public injury or property damage caused by your business
6. Third Party business or financial loss caused by your work

Our team of experienced staff offers insurance advice for shop and office requirements and act basis deep understanding of the risks and challenges associated with your specific business.

In recent times, it is now mandatory to have Employer's Liability if you have any staff, esp. if you're a small business owner viz. Medical Practitioners ( General Physician clinic / Dental clinic / Child Care & Maternity Clinic / Physiotherapy clinic & more), Shops ( Kiraana / General Stores, Hardware Store, Electrical Equipment Store & more), Service (Salon & Beauty Parlor, Repair Service, Florist, Delivery, Transportation & Logistics, Real Estate Broker & Agents), Travel & Tourism, Food & Beverages ( Hotel, Spa, Bakery, Eatery, Fast Food Joint, Dine-Ins and Takeaways, Resorts) and more such businesses

Buildings and Contents Insurance is another cover that has been explored more in recent times.

We are driven by our commitment to help you assess any additional insurance cover you may need, so you have a tailored package that safeguards you against a wide range of risks to your business.

Shop and Office Insurance can include:

Business insurance protects your business from an array of risks such as:

1. Public and Products Liability
2. Employer's Liability
3. Accidental Damage
4. Theft
5. Fire, flood, storm and accidental damage to your buildings, contents, stock and business equipment
6. Shop frontage, glass & signage
7. Goods in Transit
8. Business Interruption
9. Legal Expenses
10. Content All Risk
11. Equipment Breakdown
12. The Above Coverage can be extended/customized for Your Business As You Need.

What Is Cyber Insurance?

In today's digital economy, with rapid digitisation and increased digital usage, there is an even stronger need for businesses to safeguard their digital presence and properties from threats like hacking, data theft and system infringement. With complexity of Ad/Ransom ware, password attacks and distributed denial of service attacks (DDOS) increasing with each passing there is an increasing need to protect beyond pure IT safeguards viz. firewalls and anti-virus software.

This is where Cyber and data insurance can help to protect and support your business or key leadership / senior management, in the event of a cybercrime.

Do I Need Cyber Insurance?

For most businesses today, having digital presence in form of a website/ mobile app/ social media handles, having personal data about customers, suppliers or employees are all part of day to day business. There is a reliance on technology not just for support but for all businesses operations. If any of these sound familiar, then you have a cyber and data exposure that you may wish to protect.

Cyber insurance ensures business support in the event your systems are accessed online by malicious hackers and they cause damage. Data element covers the physical loss of the data, in the event data gets corrupted or lost whether electronically or otherwise.

Cyber and data insurance offers protection against a wide range of cyber threats that are ever evolving and continue to pose a threat to your overall business well being. Besides accounting for IT forensics to identify and eliminate any viruses on your systems, the covers included can also ensure financial assistance for a loss of profits or the re-instatement of your data, legal assistance to help guide you through the process of notifying the relevant authorities, as well as understanding your liabilities and PR to allow you to control the communications following a data breach to help protect your business against the aftermath of Cybercrime.

What Level of Cyber Cover Do You Need?

The amount of cyber liability insurance you need is generally dependent on the amount and type of IT infrastructure you have and data you hold. Businesses that are predominantly online, with a lot of software and larger amounts of personal and sensitive data will inevitably require higher levels of cover.

So it's important to consider the main trading channels your business uses and the type of personal information you hold. What would be the impact if your systems were compromised and your data was stolen, and how long would it take you to get back up and running?

Benefits of Cyber Insurance

1. Protection from a range of cyber threats and cyber crime to ensure minimal business impact in case of a disruptive event
2. Accounting for cost of recovery of your systems and data
3. Accounting for legal costs and reputational damage
4. Accounting for loss of income while you get business back as usual
5. Accounting for informing all individuals whose data may have been exposed and regulatory bodies if needed.

Damage control can be extremely costly, so if you're unsure then you can have it discussed with us.

Contact us today to explore the right fit Cyber Insurance cover to safeguard your business against the growing menace of cyber crimes.

What Is Directors & Officers Liability Insurance?

An insurance cover that offers personal liability cover for company directors, officers and managers, it's designed to protect the insured from claims that may arise from decisions and actions taken within the scope of their regular duties.

Do You Need D&O cover?

Today, individual directors of a business can be prosecuted for acting outside the capacity of their role, particularly if there are financial or legal implications.

Directors and officers insurance can protect you and your business against wrongful acts committed by a key person within the business. As a company executive, your key management and company personnel could be held personally and legally liable for claims that arise from your business decisions and actions.

If a key manager acted outside of the remit of their role, they could be pursued for compensation by shareholders, regulators, employees or other third parties.

D&O insurance covers legal defence costs as well as cover any compensation awarded as a result of an unsuccessful legal defence.

How to get best fit D&O Cover for your Business?

Directors and officers insurance is typically purchased as a stand-alone policy, in addition to your business insurance policy, to protect key individuals within your business.

To explore a custom directors and officers cover tailored to your requirements, Act Now, Contact Us.

What Is Commercial General Liability Insurance?

As a business, you are exposed to liabilities of varying natures viz. employee disputes, damage to premises, taxation proceedings, criminal prosecution defence, commercial tenancy agreements and other such business events. Commercial General Liability (CGL) Insurance offers protection to your business from such events that may result in legal proceedings and have an adverse impact on your business operations.

Do You Need CGL insurance?

Though not mandatory, CGL insurance would ensure protection from any unexpected legal proceedings against you. Any business at any time could be subject to legal prosecution and costs can rise rapidly.

CGL insurance can be factored stand-alone as an additional extra, or included along with other relevant covers with your business insurance policy

What Level of CGL cover do You need?

In normal practice, given the size of your business, you are offered a limit under CGL insurance and for a defined period of time. The degree of risk in would define the ability to choose a higher or lower limit, basis your business's protection requirement.

What is professional indemnity insurance?

An insurance cover designed to protect your business in the event that your work results in financial losses for your customers.

In normal business practice, you would be liable to compensate should your actions result in your customers clients losing money. Professional indemnity insurance can offer protection against these eventualities, and safeguard your interests to ensure peace of mind.

What does professional indemnity insurance cover?

Professional indemnity insurance covers your professional liability should something go wrong with the work that you do.

Professional indemnity claims could arise as a result of your business activities for e.g. incorrect medical diagnosis or inaccurate graphic designs that don't adhere to the brief or a business strategy that resulted in financial loss, etc.

Any financial loss incurred by your customers due to any action of yours would be covered as listed in the scope of product construct.

Who needs professional indemnity insurance?

Strongly recommended for professionals who are in the business of advisory and consultancy services or manage client's data, business process or intellectual property.

Gone are the days when businesses used to consider insurance with limited benefits to offer under Employee benefits. In today's competitive age, businesses have been innovating to develop custom employee benefits programme that not just covers the indirect pay of your workforce, it's also a tool that helps you duly compensate and retain as well as attract talent basis your comfort.

Right from health insurance covers for employees covering their immediate family and in-laws to employee's pet insurance, companies are innovating to create the most relevant employee benefit covers for their employees, especially in post-COVID times.

Traditionally an employee benefit programme would include all or any of the following:

1. Employees Health insurance (Medi-claim) - GHI
2. Employees Life insurance - GTL
3. Employees Retirement plans
4. Employees Personal Accident (Disability) insurance - GPA

What are the benefits of Employee Benefits Insurance?

Health and wellness

More and more companies have employee wellness programs today and the ability to customise are endless with examples ranging from getting fully body checkup done from a preferred hospital to a gym membership to solutions that include physical, mental and financial wellness.

Health Insurance & Healthcare

Healthcare benefits, as part of employee health insurance can also be customized basis requirements with some of the innovations seen of late being coverage of physiotherapy and chiropractic sessions, to including fertility treatments and psychological support.

Other types of insurance benefits for employees cover parental leave or injury.

Personal finance & Pension planning

post-COVID, there has been an obvious stress about personal finances with fall in household income due to the challenges and restrictions in business operations. This has led to a large majority of employers to seriously start thinking of employee financial wellness.

Retirement planning options are hence being sought after customization possibilities to suit all levels of employees.

To explore curating an employee benefits programme that offer both width and depth of options in terms of a comprehensive solution, let's get started today. Contact us and let's get started.