Financial Services - Corporate

Every business undertaking is started and operated with the objective of making higher and sustainable profits. But, risk in business is the other side of the coin which every corporate has to face. The risks could be of varied and diverse nature, relating to fire, theft, natural calamity, machinery breakdown, project delays, higher employee attrition; all of which consequently have an effect on the functioning, efficiency and profitability of the business. Corporate insurance thus helps the business to tide over these contingencies, so that the losses and risks can be minimized.

There are various insurance solutions available like employee protection, commercial insurance, industrial and liability insurance. The insurance requirements vary considerably depending on the type of business you operate. We at Markone assist you by understanding the nature of your business, the risks involved and then offer solutions ideal and beneficial to you.

Corporate insurance has an important role to play so that unforeseen contingencies cause minimal disruption to the continuance of business activities.

Our strategy
We at Markone follow a ‘need based solution’ strategy; wherein we assess our clients’ requirements and then offer them a solution that is most advantageous to them.

Our approach involves:

  • Detailed analysis of the nature and needs of our clients’ business.
  • Thorough understanding of various product solutions in the market. 
  • Providing solutions which are most advantageous to them and aligned to their needs.
  • Our aim is to add value to our clients and maintain a long standing relationship with them. We ensure our clients, a complete transparency in all that we do so that they can make informed decisions every step of the way.

Corporate Solutions

  • Employee Protection
  • Commercial Insurance
  • Industrial Insurane
  • Liability Insurance

Employee Protection

  • Group Gratuity: Gratuity is a lump sum amount paid by the company to its employees upon the employee’s termination of employment. It is a way an employer appreciates the loyalty and service of employees towards the company. It has been mandatory for all companies having more than 10 employees, under the Payment of Gratuity Act, 1972.
  • Group Term Insurance: It is a protection solution that provides financial security to the employees and serves as an effective tool for employee retention and loyalty.
  • Leave Encashment: Leave encashment is the amount payable for the employee's leave period, depending upon the leaves to his credit and his salary at the time of termination of employment. It also serves as a way to recognize employee’s loyalty, which is payable to the employees (or to their dependents) on retirement, death or disability.
  • EDLI (Employee Deposit Linked Insurance Scheme): The scheme requires employer’s contribution towards the Provident Fund Authorities, based on employees’ age to provide a life cover to its members. EDLI is mandatory by law for all companies to which the Employee's Provident Fund and Miscellaneous Provision Act, 1952 applies and which have at least ten permanent employees.
  • Group Mediclaim: These are employee benefit policies which provide for medical and hospitalization cover upto a certain limit for all the employees in an organization. These policies can be customized to have different coverage limits for different class of employees and could also contain provisions for including additional benefits.

Commercial Insurance

  • Jewelers Block Policy: This is a package policy specially designed for jewelers and for those establishments dealing solely in diamonds that provides cover against loss or damage to jewelry. There are various categories of coverage which one can opt for.
  • Bankers Indemnity Policy: A package policy designed specially to cover the risks related to banking sector. A single policy can be taken covering all branches in India of a particular bank. The policy has several sections that provide coverage to money and securities while in premises, in transit, loss due to forgery, dishonesty of employees and others.
  • Shopkeeper's Policy: This is a package policy specially designed for small shopkeepers, which combines various insurance requirements of shopkeepers like building and content, burglary and housebreaking, plate glass, neon signs, baggage, personal accident, loss of profit and many more.
  • Marine Cargo Policy: This policy covers goods, freight and other interests against loss or damage to goods whilst being transported by rail, road, sea and/or air.
  • Plate Glass Insurance: It is an annual policy that covers all kinds of accidental breakages of the plate glass fixed to display windows or show cases of commercial establishments. 
  • Special Contingency Policy: Caters to the requirements of the clients who desire to have all risks in respect of their machinery and/or equipment or any other property covered under a single policy.
  • Neon Sign Insurance: Insurance in respect of loss or damage to the neon sign installation.
  • Multi Peril Policy for L.P.G. Dealers: Specially designed to meet the Insurance requirements of L.P.G. dealers.
  • Fidelity Guarantee Insurance Policy: The policy covers the employer in respect of any direct financial loss which he may suffer as a result of employees’ dishonesty.
  • Marine Hull Policy: Covers any loss or damage to ships, tankers, bulk carriers, smaller vessels, fishing boats and sailing vessels.
  • Aviation Insurance: Provides solutions to the needs of small aircraft operators as well as scheduled airlines.

Industrial Insurance

  • Fire Policy: One policy covering destruction or damage to moveable or immoveable properties on land that includes building, plant & machinery, equipments, accessories, stocks and such other contents on account of fire, lightning, riot, strike, aircraft damage, storm, flood, hurricane and many more.
  • Burglary Policy: This policy is designed to cover business premises only like godown, factory, and office against loss due to theft following upon actual, forcible and violent entry into the premises or an attempt thereof.
  • Machinery Breakdown Policy: This is a policy which covers financial loss incurred by the insured due to loss or damage to machinery as a result of accidental electrical and mechanical breakdown.
  • Electronics Equipment Policy: This is a specially designed policy which covers accidental loss or damage to electronic equipment which can be taken by the owner, lessor or hirer of the instrument.
  • Consequential Loss Policy: This policy offers a solution by covering profit lost due to reduction in turnover arising from interruption of business following damage to the property insured. This policy can be taken only in conjunction with Fire Policy or Machinery Breakdown policy.
  • Contractors All Risk Policy: This policy is specially designed to give financial protection to the Civil Engineering Contractors in the event of an accident to the civil engineering works under construction.
  • Marine cum Erection / Storage cum Erection Policy: This is a comprehensive policy covering all physical risks which a project is exposed to right from the warehouse of the supplier of equipments - whether imported or indigenous - to its erection, testing and commissioning at the site.
  •  Advanced Loss of Profit / Delay in Startup Policy: The policy pays for the actual loss of gross profit incurred during the period of delay, commencing from the scheduled date of commencement of commercial operation upto the actual date of commencement of commercial operation subject to a time excess and indemnity period selected. The delay however should have occurred due to a claim payable under marine-cum-erection policy, storage-cum-erection policy or contractor's all risk policy.
  • Contractor Plant and Machinery Policy: The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy. The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

Liability Insurance

  • Public Liability Policy: This policy covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury, loss or damage to the property belonging to a third party.
  • Products Liability Policy: This policy covers all sums (inclusive of defence costs) which the insured becomes legally liable to pay as damages as a consequence of accidental death/ bodily injury or disease to any third party and accidental damage to property belonging to a third party arising out of any defect in the product manufactured by the insured and specifically mentioned in the policy after such product has left the insured's premises.
  • Professional Indemnity Policy: This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service.
  • Directors and Officers Liability Policy: This cover is suitable for those Directors & key officers who are in a decision -making position. These directors and officers in pursuance of their duties may take some actions which may be in violation of certain statutes or Indian Laws.
  • Lift (Third Party) Insurance: Designed for owners of passenger lifts in building to cover third party liabilities for personal injuries or property damage arising out of the use and operation of lifts including their machinery, plant, doors, safety devices or other appliances.
  • Employers' Liability Policy: The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by the workmen arising out of and in course of employment.
  • Carrier's Liability Insurance: Pay all sums for which the insured shall become legally liable as compensation for physical loss or destruction of or damage to goods or merchandise while in transit including during loading or unloading and while temporarily housed on or off vehicles in the ordinary course of transit.
  • Liability Insurance Act Policy: The policy covers the statutory liability of insured arising out of accidents occurring during the currency of the policy due to handling hazardous substances as provided in the PUBLIC LIABILITY INSURANCE ACT 1991 and the Rules framed there under. 
  • Golfers Indemnity Insurance: The Policy provides cover for liability of Insured, Personal Accident cover of Insured and loss or damage to Golf kit.


Monthly Newsletter

Keep up to date on the latest from our network:

Connect with us