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Terrorism Insurance
Public Service Notice
In the light of the terrorist attacks in Mumbai the team at ICICI Lombard General Insurance would like to reassure the citizens of Mumbai that its 24X7 toll free helpline is in operation. To register a claim if any, citizens are requested to call our 24X7 toll free number 1800-209-8888.
Terrorism cover can be given for property or personal accident.
Property
The Insurance Regulatory Developmental Authority (IRDA) has mandated that all general insurance companies are allied to a common pool for terrorism insurance. As a result, premium of terrorism insurance collected by all general insurance companies is collected in this common pool. Any terrorism related insurance claims too are settled using funds from this common pool.
Property could be residential, industrial or non-industrial. Industrial property includes factories, infrastructural projects and refineries. Non-industrial property includes public/social institutions like temples, hospitals, stadiums. Premium is charged on the basis of the sum insured for the property.
Terrorism insurance is offered as an add-on cover and an individual would have the choice to request the same while insuring property.
Personal Accident
Personal accident cover for terrorism could encompass accidental death, total disability, loss of limbs, loss of a sensory organ, partial disability or loss of pay due to disability.
The number of individuals opting for terrorism insurance is on the rise due to heightened awareness, especially in sensitive geographies prone to acts of terrorism.
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Frequently Asked Questions (FAQs)
What is the need for terrorism insurance?
Terrorist activities are no longer limited to the sensitive border areas. The recent bomb blasts have resulted in the need for terrorism insurance across the country.
Who can buy terrorism insurance?
Terrorism cover can be given for property or personal accident. Companies, institutions as well as individuals can buy the terrorism cover for property. This policy can be bought instantly online on www.icicilombard.com with no paperwork.
What is the terrorism insurance cover offered for property?
Property could be residential, industrial or non-industrial. Industrial property includes factories, infrastructural projects and refineries. Non-industrial property includes public/social institutions like temples, hospitals, stadiums. Premium is charged on the basis of the sum insured for the property.
Terrorism insurance is offered as an add-on cover and an individual would have the choice to request the same while insuring property.
What is the terrorism insurance cover offered for individuals?
Personal accident cover for terrorism could encompass accidental death, total disability, loss of limbs, loss of a sensory organ, partial disability or loss of pay due to disability. ICICI Lombard’s Personal Accident Insurance policy covers against Accidental Death and Permanent Total Disablement (PTD), terrorism and acts of terrorism. Lombard’s Personal Accident Cover protects beneficiaries against terrorism related accidental losses and death.
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ICICI Lombard – Personal Accident Insurance Policy
ICICI Lombard’s Personal Accident Cover protects beneficiaries against terrorism related accidental losses and death. Personal Accident Insurance Policy provides immediate coverage on policy issuance. This policy offers cover against Accidental Death and Permanent Total Disablement (PTD), terrorism and acts of terrorism. There are four Personal Accident plans that offer choices in sum insured and policy duration. The insurance cover is available in options of Rs. 3 Lakh, 5 Lakh, 10 Lakh or 20 Lakh with a choice of cover period (annual auto renewal) - 3, 4 or 5 years.
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ICICI Lombard - Insurance covers for Hotels and Restaurants
ICICI Lombard offers a package policy that is designed specifically for the hospitality industry. This plan is designed so that it allows flexibility as per needs and a choice of covers that one might require to protect property and manpower with the convenience of a single policy.
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Other Products
ICICI Lombard also has an array of insurance products to cater to different risks associated with your activities. The following products are available:
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