CHAPTER 1

THEORETICAL FRAMEWORK

1. (a) Topic Related Concepts:

Underwriting is an agreement, entered by a company with a financial agency, in order to ensure that the public will subscribe for the entire issue of shares or debentures made by the company. The financial agency is known as the underwriter and it agrees to buy that part of the company issues which are not subscribed to by the public in consideration of a specified underwriting commission. The underwriting agreement, among others, must provide for the period during which the agreement is in force, the amount of underwriting obligations, the period within which the underwriter has to subscribe to the issue after being intimated by the issuer, the amount of commission and details of arrangements, if any, made by the underwriter for fulfilling the underwriting obligations. The underwriting commission may not exceed 5 percent on shares and 2.5 percent in case of debentures.

Underwriting has become very important in recent years with the growth of the corporate sector. It provides several BENEFITS to a company:

It relieves the company of the risk and uncertainty of marketing the securities. Underwriters have an intimate and specialized knowledge of the capital market. They offer valuable advice to the issuing company in the preparation of the prospectus, time of floatation and the price of securities, etc. They also provide publicity service to the companies which have entered into underwriting agreements with them.

It helps in financing of new enterprises and in the expansion of the existing projects.

It builds up investors' confidence in the issue of securities. The issuing company is assured of the availability of funds. Important projects are not delayed for want of funds.

It facilitates the geographical dispersal of securities because generally, the underwriters maintain contacts with investors throughout the country.

TYPES OF UNDERWRITING

Syndicate Underwriting: - is one in which, two or more agencies or underwriters jointly underwrite an issue of securities. Such an arrangement is entered into when the total issue is beyond the resources of one underwriter or when he does not want to block up large amount of funds in one issue.

Sub-Underwriting:- is one in which an underwriter gets a part of the issue further underwritten by another agency. This is done to diffuse the risk involved in underwriting.

Firm Underwriting: - is one in which the underwriters apply for a block of securities. Under it, the underwriters agree to take up and pay for this block of securities as ordinary subscribers in addition to their commitment as underwriters.

UNDERWRITER
The term underwriter is used in a variety of businesses and industries, but it primarily refers to a person or firm who is responsible for assessing and assuming financial risks on behalf of another firm or individual. Underwriters work for investment banks and insurance companies, but they are also individuals who are financially responsible for sponsoring events. Essentially, underwriters receive special terms or benefits for their participation in events or business ventures. To act as an underwriter, a certificate of registration must be obtained from Securities and Exchange Board of India (SEBI) . The certificate is granted by SEBI under the Securities and Exchanges Board of India (Underwriters) Regulations, 1993 . These regulations deal primarily with issues such as registration, capital adequacy, obligation and responsibilities of the underwriters. Under it, an underwriter is required to enter into a valid agreement with the issuer entity and the said agreement among other things should define the allocation of duties and responsibilities between him and the issuer entity. These regulations have been further amended by the Securities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2006.

TYPES OF UNDERWRITERS

INSTITUTIONAL

NON-INSTITUTIONAL

LIC, UTI, ICICI, IDBI COMMERCIAL BANKS GENERAL INSURANCE COMPANIES

BROKERS

ROLE OF UNDERWRITERS
The primary role of the underwriter is to purchase securities from the issuer and resell them to investors. Underwriters act as intermediaries between issuers and investors, providing for an efficient of capital. The underwriters take the risk that it will be able to resell the securities at a profit. Perhaps the most visible and familiar element of the initial public offering process is the underwriter. The underwriter is the organization that is actually responsible for pricing, selling, and organizing the issue, and it may or may not provide additional services. With direct public offerings, there is no need for an underwriter.

Selection of a good underwriter is of the utmost importance, but it's important to understand that many underwriters are equally selective of their clients. Because an underwriter's reputation depends on successful issues, few firms will be willing to stake their reputation on questionable companies.

When selecting an underwriter, it's important to seek out an established company with a good reputation and quality research coverage in your field. The decision

may also depend on the kind of agreement the underwriter is willing to make regarding the sale of shares. For profitable and established private companies, it shouldn't be difficult to locate an underwriter willing to make a firm commitment arrangement. Under such an agreement, the underwriter agrees to buy all issues shares, regardless of ability to sell them at a particular price. For riskier or less established companies, an underwriter may offer best efforts arrangement for the initial public offering. A best efforts contract requires the underwriter to buy only enough shares to fill investor demand. Under this arrangement, the underwriter accepts no responsibility for unsold shares. Aside from fees and sales arrangements, most underwriters are fairly similar in their roles. An underwriter will assist in the preparation and submission of all appropriate SEC filings, helping potential investors make informed decisions about your offering. All underwriters are required to exercise due diligence in verifying the information they submit, so a certain amount of investigation should be expected from any responsible underwriter.

In addition to SEC registration filings, the underwriter will create a preliminary prospectus that will become a major part of the issue's marketing campaign. This document is also referred to as the red herring, after a small red passage in the document that states that the company is not attempting to sell shares prior to SEC approval.

Once SEC approval is obtained, the underwriter and the corporation will embark on a road show to gauge and attract interest from investors. While the road show does not involve getting binding commitments from investors, it helps the underwriter determine the best strategies for pricing and issuance.

Basics of Financial analysis: As stated else where the two basic financial statements are the balance sheet and the income statement. They constitute the primary source of information for

financial analysis. A balance sheet depicts what is owned and owed by a business on a particular date . A snapshot of the firm/cos financial position is also called as the statement of financial position . Assets , liabilities and equity capital (owned funds) are the three main components of balance sheet . The relationship among these components is given by the accounts equation: Assets = Liabilities + capital . Assets is something owned. The properties and property rights a business owns are its assets . By convention they are arranged in the descending order of liquidity . A liability is something owed. Liability are represented by the creditors interest in the the assets. They are arranged in the order of their of maturities. Equity is the interest of the business in their assets. It is the residual interest after the creditors interest has been satisfied. The owners equity is the difference between the total assets and total liabilities . it is also called the net worth. The two formats used to for the balance sheet are the account or the traditional format and the columnar or vertical format. The account form is the traditional type of the format and the columnar or vertical format . The account from is the traditional type of the format listing the assets on the left hand side and liabilities on the right hand side. In the columnar form the balnce sheet is drawn vertically. The assets are listed on the top and the liabilities at the bottom . While attempting the analysis of a balance sheet one inherent limitation in it should be at the back of ones mind the statement is drawn at the point of time and therefore it could be mislead. Fluctuations there after could cause significant variation from the position reported on the date of balance sheet .

The balance sheet can also be manipulated to enhance the position of the business at any point . For example the current ratio can be improved by repaying the short term liabilities just before the balance sheet date . the current ratio can be improved by repaying the short term liabilities just before the balance sheet date. The current ratio is current assets divided by current liabilities.

With repaying the debt the denominator in the equation current assets / current liabilities decreases there by increasing the ratio.

If a company has current assets of Rs. 10 lakh and current liabilities of Rs 7,50,000 before repayment of debt, The current ratio is debt, The current ratyio is 1.33:1(10,00,000/7,50,000). The company has 1 lakh cash and uses it to repay the debt. Resultantly , the current ratio is 1.33:1 (10,00,000/7,50,000). The company has 1 lakh cash and uses it to repay the debt. Resultantly, The current ratio increases to 1.38:1(9,00,000/6,50,000) . The practice resorted to, although legal, is termed as window dressing and considered unethical.

Compared to a single period balance sheet a comparative balance sheet is more valuable. It compares two balance sheets and prepared by placing two balance sheets and income statements from two time periods side by side. By an analysis of the change from one balance sheet to another one finds out whether the company is gaining or losing the financial strength . Financial statements often contain 3 to 5 years , summary of the balance sheet data.

The under writing has to familiarize himself with the format and classification of the balance sheet. Once this is achieved he can start interpreting data can develop answers to a number of underwriting questions.

The underwriting can make use of techniques such as trend analysis where an internal comparison could be made with financial statements of the earlier years. Exernal comparison could also be resorted to be comparing the financial statements of the client company with that of the industry or similar companies in the industry.

Classification of the balance sheet:

Assets: The two major classifications of assets are current assets and non current assets ( Land building plant machinery )

Current assets comprise of cash and other assets that are expected to be converted into cash within a period of one year from the date of balance sheet . In the balce sheet the current assets are normally stated in the order of their liquidity say:

Cash Marketable securities Receivables Inventories Prepaid expenses Cash being the most liquid of the assets is listed first and includes not only currency notes and coins but also cash equivalents such as cheques, Bank DDs, Demand deposits in the banks etc.,

Marketable securities are liquid instruments. These can be converted into cash without any difficulty. The surplus funds of the company are deployed in the market securities

Receivable or debtors or book debts are the amounts owed to the company by the customers by the customers and outsiders.

Inventories include the finished goods ready for sale to the customer . They also include raw materials works in progress or process.

Prepaid expenses are the amounts that are paid in advance for the services that have not been received or used for example prepaid rent or prepaid insurance.

The non current assets which include fixed assets (land, building and

machinery)are the assets that are more permanent in nature and have a useful life more than one year. These assets are used in business operations and are not meant to sale the customers. Land is shown at its original cost . it has a permanent life and deprecitiated. On the contrary, buildings, machines and equipments are valued at their original cost less than accumulated depreciated. Depreciation is non cash expense. It enables the spreading of the cost of an asset over a given number of years depending on its useful life, instead of charging the entire cost of an asset to any one year as an expense. The total of such amount expensed up to date of balance sheet is accumulated depreciation. The financial statements depict the amount depreciation . This is different from physical depreciation which is the actual cost value (market vbalue of an asset for insurance purposes. It is wear Tear of an asset over a period of time. There is no relation ship between both of these depreciations. An under writer approach to fixed assets is different from that of financial statements. The under writer is more concerned with the valuation of the asset because he promises To pay the actual cash vaue or replacemernt cost incurred of the insured machinery.

Investments are non current assets which are held for a considerable long period or for some designated purposes For example investments in shares or debentures of another company, Investments for a special purpose such as penson funds.

In tangiable assets are assets that have no physical existence but are valuable to the company /organization for example , investments in shares or debentures of another company , investments for a special purpose such as pension funds.

Intangiable assets that have no physical existence but are valuable to the company /organization. For example , patents , goodwill, copyrights, etc. the treatment of the assets are different For example, good will becomes relavant only when the

company is being acquired or being merged with the another company. It is the excess price over and above the book value is based on the valuation of all tangiable net assets of the company.

Other assets are those assets that cannot be classified under any of the above heads for example , miscellaneous funds kept for special purposes, employee insurance funds, amounts receivable from the employees.

Liability: The liabilities of a company are generally depicted on the right hand side of the balance sheet. The two major classifications are current liabilities and non current liabilities.

Current liabilities are the amounts due and which are to be repaid with a period of one year from the date of balance sheet. Examples of current liabilities include creditors for trade , creditors fro expenses, account payable provisions for income taxes or other taxes.

Amounts which are repayable or due over a period of one year from date of balance sheet are referred to as non current liabilities. Term loans, debentures, unsecured loans , bonds that are the types of liabilities which come under this head.

Net worth: It is the difference between toatal assets and liabilities as on the date of balance sheet. It represents the owners stake in the business. The owners equity differs as per the constitution of the company (proprietorshipfirm, partner shipo limited company. The capital is the amount of the share holders contribute to the company. The capital amount of share holders to the business by purchasing shares. Shares are often sold at premium. The excess value over the par value is kept in separate account called the share premium account.

Retained earnings are also a part of the equity and represent the accumulated and undistributed earnings of the company. Income statement: Also called a profit and loss statement, it summarizes the results of a company over a period of time , say one year. It details the income and various expenses incurred during the year. Profits are the excess of totals revenues over the total

expenditure. If expenses exceed the income, the company incurs loss. An underwriter must understand the relationship between the profit and loss statement and the balance sheet. In the absence of dividend, a net profit increases the net worth. If the company incurs a loss, the net worth or the owners equity decreases. The starting point in income statement is the gross sales. Net sales follow the gross sales and represent the gross sales, less returns and excise duty. The next item is the cost of sales. It represents the cost incurred by the company for the production of goods and services. The next sales minus (-) the cost of sales gives the gross margin on sales often referred to as gross profit. After deducting the operating expenses from the gross profit , we get the figure of operating income. It depicts the income from the normal operations of the business during priod mentioned in the statement.

Listed below the operating income are the other income and expense item. These are the items not related to the primary business activity of the company. For example: interest from investments, dividends, rents royalties etc., The operating income after adjustments for the other income and expenses is called the net income . This is before tax and often referred to as profit before tax (PBT). The figure after tax and other deductions is called profit after tax (PAT) or net income after taxes. The last step is the appropriation of profits to dividend, The balance amount going to boost reserves. The income statement statement could be in the form of a multiple steps format, which is used widely or in a single step format where the total expenses are deducted from the total revenues to arrive the next income after the taxes. Financial statement analysis: To guage the financial health of company and to search for underwriting information, the under writing examines the financial records of company. By themselves, the financial statements are of limited use. To transform the statements into useful sources of information, several tools are available namely (a) Internal and external comparison (b) Percentage analysis and vertical statement analysis (c) Ratio analysis.

With the help of the above tools , the underwriters evaluate the financial data of the insured by comparing it with a specific standard (benchmarks). The bench marks could includethe past performance of the company (trend analysis) and the performance of the

other companies in the same industry (industry analysis) A financial statement in isolation (absolute terms) does not through much light. However a comparision between two financial statements helps in drawing valid conclusions. For example , take the case of the company which for the previous three years had turned at a consistent net profit of Rs 15mn and shows acurrent net income figure of Rs.3n. The inference from the under writers point of view could be possible moral or morale hazard or financial detoriation. On the contrary, if the profits in the previous years were consistently Rs2mn, the current net profit figure of 5mn will point towards (a) strength and growth (b) reduced possibility of moral hazard (c) Some non recurring transaction that has boosted the income in the current year. Similarly non moving obsolete and damaged inventory could point towards moral hazard. A comparison between two financial statements can be attempted by arriving at the year over year (YOY) growth or decline percentage. This method of trend percentage helps in giving useful insights into developments that are favorable or unfavorable over a period of time. This method is often referred to as internal comparison. On a different footing is a method of external comparision . In this method comparision is made between the financial statements of two companies of the same size. This method is also referred to as vertical analysis or common size. This method is also referred to as vertical analysis or common size. This method is also referred to as vertical analysis or common size or common size statement analysis. The above financial tools are useful for interpretation of the accounting information provided by the insured. They help the underwriter to make comparisions between the current operations of company with certain performance standards, there by enabling him to conclusions from the information provided.

Accounting information from alternate sources:

Besides financial statements underwriting also relay on other supporting sources of data. These sources of the data can supplement the financial statements and help the underwriters gain a thorough understanding of a particular risk. Annual report: Financial statements get enhanced by the vital information provided in an annual report. The report gives a back drop of the company and its growth plans. It also contains summary of the previous years operations. A description of the management plan for the

company ably supported for charts , graphs and ratios provide the underwriter a greater understanding of the financial data. These reports have to be taken with a pinch of a salts as they are often biased on the favour of the company. The statement of the top management depicts a more optimistic prediction of the future. The underwriter can however gain useful insight into the financial condition of the company by viewing the annual report. The prospectus: A prospectus is another supplementary source of financial information for the underwriting. A registered document issued by the company at time of floating a new public issue it is to be filed before the securities exchange board of (SEBI).

It provides a good amount of legal financial , legal and technical information for the underwriter. A registered document issued by the company at the time of floating a new public issue, it is to filed before the securities exchange board of India (SEBI). It provides a good amount of financial, legal and technical information about the

company . However , one disadvantage about the prospectus is that is prepared only at the time of floating a new issue.

Other sources of information: Companies registered with the SEBI should also publish quarterly financial reports. They are not as detailed as annual reports and many some times not be audited. However, they provide the latest information about the company. Press reports about the company also provide financial information to the underwriter. Shortcomings : Underwriters make internal and external comparisons with the help of financial statements Internal comparison is comparison with the past financial statements of the company for two or three years. External comparison is with other companies in the same line and of similar size. These comparisons do have their short comings. It could be on account of variation in the accounting methods deployed (straight line method of depreciation by one company and written down value method by another company. The difference could also be on the account of different valuation methods for inventory (LIFO method by one company and

by FIFO method by another company). These These accounting methods are normally indicated in the notes to the financial statements. These notes are important part of the financial statement and underwriters should necessarily go through the same before attempting any financial statement analysis.

Audited vs unaudited statements: Auditing extends credibility to the financial statements. The audited financial statements are accompanied by an audit report prepared by an independent chartered account. The report gives a professional opinion about the fairness of the company statements. Underwriter should always go through the auditors report in detail. The opinion of the auditors could be of three types. (a) unqualified (b) qualified and (c) Adverse. It should be kept in mind that the auditor gives his opinion on only on the financial statement and not on the annual report. An unqualified opinion gives a clean chit to the company. It indicates that the financial statements have been examined and represent fairly financial position of the company. Wherever the auditors remarks are with minors exceptions , the opinion is said to be qualified. When the financial statement do not fairly present the financial position of the company. Wherever the auditors remarks are with minor exceptions, the opinion is said to be qualified. When the financial statement do not fairly present the financial position of a company, the opinion is said to be adverse. The auditor may have to provide ample justification for his conclusion. Ratio analysis : An important tool in the study of the financial conditions of an account is the ratio analysis.( By using the data found in the account records of a company ratio analysis relates two or more of the items to one another) the result so obtained can be compared with the result of the previous accounting period of the same company (internal comparision) or similar companies of the same size (external comparision). There are scores of ratios, but only few may be needed for conducting a specific analysis of the company. For proper identification of ratios useful to them, the underwriters should not losse their prespective the main purpose being the search for any information that helps in making an underwriting decision . The objective of the ratio analysis from the underwriters point of view is to indicate.

a. Potential moral and morale hazards b. Ability of the insured to pay the premia c. Finacial soundness of the management d. Expected growth and the expectations from the

underwriters stand point

As indicated else where, the ratios by themselves mean less numbers. To make them more purposeful, comparisons with some benchmarks and guide lines are inevitable. As stated else where the comparisions could be internal with the past years. It could also be external within the industry with similar companies or average industry trend. For convenience, ratios are classified into four basic groups: 1. Liquidity ratios: They measure the capacity of the company to pay shorter liabilities/ debts. 2. Levarage ratios: They measure the extent to which the company is indebted/ levarged or geared . 3. Activity ratios: These ratios measure the asset handling capacity of the company . 4. Profitability ratios: these ratios measure the performance of the company.

ABOUT THE COMPANY:

Future Generali is a joint venture between the India-based Future Group and the Italybased Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

FUTURE GROUP:
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of Indias leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. The groups specialty retail formats include sportswear retailer, Planet Sports, electronics retailer, eZone, home improvement chain, Home Town and rural retail chain, Aadhaar, among others. It also operates popular shopping portal, www.futurebazaar.com. Future Capital Holdings, the groups financial arm, provides investment advisory to assets worth over $1 billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations. Other group companies include, Future Generali, the groups insurance venture in partnership with Italys Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative.

The groups presence in Leisure & Entertainment segment is led through, Mumbaibased listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling Co. and family entertainment centers, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato. Future Groups joint venture partners include, US-based stationery products retailers, Staples and Middle East-based Axiom Communications. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the groups core value of Indianness. The groups corporate credo is, Rewrite rules, Retain values.

THE GENERALI GROUP:

The Generali Group is a leading player in the global insurance and financial markets. Established in Trieste in 1831, today the Group is one of Europes largest insurance providers and the European biggest Life insurer. It is also one of the worlds top asset managers with assets totaling more than 400 billion. With an employed sales force of more than 100,000 people serving 70 million clients in 68 countries, the Group occupies a leadership position in Western Europe and an increasingly important place in Eastern Europe and Asia. The Group strategy aims to consolidate Generalis pre-eminence on its key markets and achieve a premier position on markets with high growth potential, establishing its leadership in profitability.

IDENTITY CARD:
Since its establishment, the Generali Group has always held a reputation for its capital and financial strength. Its solidity derives from prudent investment management and a focus on achieving a correct match between risk and medium/long-term profitability. Generali Group is one of the leading insurance groups in Europe, with a 2009 total premium income of more than 70 billion It is present in 68 countries It has 70 million clients worldwide It has 85,322 employees (15,956 in Italy) It has over 400 billion of assets under management High rating assigned by the international rating agencies: A.M. BEST: A+ STABLE Standard & Poors: AA- STABLE

 Fitch Ibca: AA- NEGATIVE Moodys: Aa3 STABLE

Vision Statement: "Pledged to provide financial security to all people & enterprises through total insurance solutions" Values: Respect: for all our stakeholders- employees, customers, for all rules and regulations both internal and external. Indianness: We understand India in all its diversity and different facets and will use for our local understanding to respond to our specific markets, design our products and craft our processes. Nimbleness: A combination of speed and quality, and ability to overcome all obstacles which come in the way of the achievement of our vision. "Can Do: An attitude which demonstrates our passion, entrepreneurship, and positive thinking. Positioning Knowledge Organization with Leadership Approach One Stop Total Insurance Solutions & Services Provider Customer Centric Model embracing Passion, Convenience and Service Excellence Objective To provide superior customer service through our knowledge-based business partners and employees supported by innovative products and services. Family DNA

Pioneering spirit Passion for clients Responsibility Respect Integration Professionalism Transparency Indianness Visionary Lifetime learning

Products:
Retail Products Motor Motor Suraksha Motor Add-on Accident & Health Future Accident Suraksha For Individuals & Family Health Suraksha For Individuals & Family Future Criti-care For Individuals & Family Travel Travel Suraksha Individual Travel Plan Multi- Trip Plan Asia Travel Plan Superior Care Plan Schengen Travel Home Future Home Secure Commercial Products Business Suraksha

For Shopkeeper For Office Education Institutes For Housing Societies Hotel & Restaurants

Corporate Products Fire Standard Fire & Special Perils Policy Fire Loss of Profit Industrial All Risk

Engineering Insurance Erection All Risk Contractors All Risk Machinery Breakdown Contractors Plant & Machinery Boiler & Pressure Plant Electronic Equipment Machinery Loss of Profits

Marine Cargo Insurance Accident & Health Group Health Insurance Group Personal Accident

Liability Public Liability (Industrial) Public Liability (Non Industrial) Products Liability Directors & Officers Liability Errors & Omissions Commercial General Liability Workmens Compensation

Miscellaneous Burglary Money

Rural Products Rural Products Cattle & Livestock Poultry Other Animals Camel Dog Elephant Horse Agricultural Pump-set Farmers Package

Future Secure Motor Insurance:

The difference between driving safe and driving secure. You stop at every signal; you slow down when you are supposed to, and follow every rule to the letter. Unfortunately, your vehicles fate doesnt depend on you alone. Future Motor Suraksha takes care of any damage your vehicle might suffer. This plan, which is in its first year of operations; overs everything, including third party expenses. So now when you drive, rest assured; we take just as much care of your car as we do of you. Types of Motor Insurance Solutions: Private Car Insurance Two Wheeler Insurance Commercial Vehicle Insurance Benefits Instant policy issuance Toll-free assistance number for customer service and claims registration Prompt and timely claims survey Cashless / direct settlement at our approved workshops Claims finalization within seven working days from receipt of all documents Accidental towing assistance (within city limits only) Automated renewal reminder service Private Car Insurance/Two Wheeler Insurance: Coverages Vehicle damage: This benefit covers any damage to your vehicle on account of an accident, burglary, theft or housebreaking. It also protects your vehicle against damage due to fire, lightning, self-ignition, explosion, riot, strike, malicious act, terrorism, earthquake, flood, cyclone and inundation. This cover encompasses protection against any damage caused to your vehicle while in transit by road, rail, air, elevator and lift Third party liability: This benefit protects you against any third party liability that you may incur due to the death of, or bodily injury to, any person; or damage to property. The policy also covers the legal expenses you might incur to defend this claim. This is a mandatory insurance coverage for your vehicle

Additional coverages 1. Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for individual owners of the vehicle while driving. This is not applicable for a Company owned Vehicle. You can also opt for a personal accident cover for passengers (named or un-named) up to a maximum Capital Sum Insured of Rs. 2 lacs per person Available only if the owner of the vehicle holds a valid driving license.

2. Additional Legal liabilities: The following additional legal liabilities may also be opted for at an additional premium Paid Driver/conductor/Cleaner employed in operation of vehicle. Employees traveling in/driving the vehicle other than paid driver. Non-fare paying passengers

Bonus and Discounts: No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.) Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy to another company. Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess (available only for Private cars and two wheelers) in addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim.). Automobile Association Membership: You can also avail of additional discount if you are a member of a recognized Automobile Association in India (available only for Private cars and two wheelers). Anti-theft devices: In case you have installed an ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500 for four-wheelers and Rs 50/- for two wheelers Motor Add on:

 With growing needs and dynamic external factors, the regular car insurance is no longer sufficient. Future Generali offers you unique Add on covers for additional protection to your vehicles 1. Depreciation Cap This cover offers full claim without any deduction for depreciation on the value of parts replaced. The cover is available for vehicles up to 3 years old and operates for maximum 2 claims during the policy period. 2. IDV comprising of On Road Price This cover offers IDV equal to Invoice value plus Registration plus Road Tax for the new vehicle. 3. Reimbursement of Consumables. This cover reimburses the cost of consumables up to 2% of the admissible claim amount subject to a maximum of Rs 3000/1. Personal Accident of Rs 50 lakhs Death only for registered owner. 2. Loss of Personal Belongings including owners laptop from locked vehicle up to Rs 50,000/3. Loss of keys up to Rs. 50,000/4. Inconvenience Allowance of Rs. 3000/- per day for 15 days 5. This cover pays a fixed sum towards hiring a transport while the vehicle is under repair for a valid claim and the repair time is more than 3 days. Period of Daily Allowance may extend beyond the policy period depending upon the date of loss. 6. Personal Liability of Rs 5 lakhs worldwide for registered owner You may also choose from Pre-determined bundles below Add on Covers Depreciation Cap IDV comprising of On Road Price Reimbursement of Consumables Personal Accident Death only Silver Gold Platinum

cover for Registered owner Loss of Personal Belongings Loss of keys Inconvenience Allowance

Personal Liability

Commercial vehicle Insurance: Your vehicle is most critical to your business. Any damage to it can be a huge loss to you. In todays times of uncertainties, you need a comprehensive insurance cover which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your vehicle. Benefits Covers all the features as per the Motor Vehicle tariff Coverage for Partial Loss & total loss arising out of accident, Fire & allied perils, burglary & theft, riots and strikes, damage in transit by air, rail, road and sea. Discount (NCB) for claim free experience. Predefined depreciation for the parts needing replacement on account of accident. Third Party Legal Liability: Covers Third party property damage and Third party Bodily injury.

Future Accident Suraksha:

External sunshine of a tranquil mind. Wouldnt it be nice to never wonder, what if...? To never have misgivings? To be prepared for absolutely anything? Heres where we come in. With Future Accident Suraksha - Well take care of any financial consequences that an unforeseen event might incur. So go on and live a life without worries. After all, when youre insured even against the unforeseen, peace of mind comes easy. Scope of cover The Plan covers risk of Accident Accidental Death Permanent Total Disability Permanent Partial Disability Temporary Total Disablement

Health Suraksha For Individuals & Family

Always within reach. Your health is your most important asset. And with Future Health Suraksha, we ensure that you will never have to go too far to protect it. Our network of

hospitals across the nation will handle any medical problem that arises. Its our way of protecting you even against the unpredictable.

Benefits In house Claims processing Cashless settlement Innovative covers offered Family Floater Quick settlement of claims Renewal discount No Claim Bonus

Future Criti-care For Individuals & Family

Future Criti-Care is a standalone critical benefit plan that insures you against twelve critical illnesses. Should you ever be diagnosed with one of these, you will be provided with a fixed sum, regardless of your actual medical expenses and other health indemnity policies. Subsequent to 90 days from the policys commencement, Future Criti-Care shall cover the following major medical illnesses and procedures; subject to survival of 28 days from the date of diagnosis/ procedure. You can apply for this plan in addition to your other medical plans. Cancer* Kidney Failure* Primary Pulmonary Hypertension* Liver Failure* Multiple Sclerosis* Major organ transplant* Coronary artery bypass surgery* First heart attack*(myocardial infarction) Coma* Total blindness* Aorta graft surgery* Stroke*

Travel Suraksha:
195 nations. 7 continents. 1 policy to keep you safe. World travel made easy. Wherever you go, we keep you safe. Future Travel Suraksha takes care of any contingencies that might arise during your journey; like misplaced papers, sudden illnesses, lost luggage etc. So travel the world. Leave the worries to us. Benefits Cashless claims settlement Claims turnaround time of less than seven working days Global service and hospital network Worldwide emergency, medical and travel assistance Universal International Free Number (UIFN) Flexibility of choosing a travel insurance plan as per your need Child escort benefit Specially designed plan for senior citizens (i.e. 71 80 years of age) Ease and convenience of purchase Instant policy issuance Cover extension in India, up to 90 days for medical expenses on evacuation

Future Generali Home Suraksha:

Protect what protects you. Insure your home and everything in it. In todays busy life; we need someone who protects our worries about unfortunate loss of hard earned money, property, etc. Future Generali's Home Protection Policy protects you from all your worries. Important features of various sections of this policy are: Section I - Protection of your assets against fire and allied perils and earthquake I-A Buildings I-B Contents (excluding valuables) I-C Cost of alternative accommodation I-D Loss of rent I-E Terrorism I-F Purchase protection Section II Burglary / housebreaking and theft

This section provides protection against the loss or damage to the contents and / or building of insured premises by burglary and / or housebreaking. The contents may either be insured on 100% basis or first Loss limits (25% or 40%). The sum insured value of contents should be on market value basis. Section III: Protection of your valuables III-A Jewellery / Valuables III-B Portable Computer All risk excluding breakdown Section IV: Protection of your electronic equipment IV-A Audio visual equipments (electronic equipment) all risk IV-B Computers (electronic Equipment) all risk Section V: Protection of Your household mechanical / electrical equipment V - Household appliances breakdown Section VI-An Accidental compensation (personal accident) Death / PTD / PPD VI-A Permanent Partial disability VI-B Hospital confinement allowance Section VII: Protection against your liability VII-A your legal liability as a tenant - Tenants legal liability VII-B Workman's compensation Domestic employees VII-C Public liability Section VIII: Enhanced protection covers (Other covers) VIII-A Baggage all risk VIII-B Plate glass all risk VIII-C Pedal cycle VIII-D ATM cash withdrawal all risk VIII-G Veterinary cost road accident

Commercial Products:
Scope of cover This policy is applicable to land-based properties. Our policy is intended to cover unforeseen events like fire, earthquake, breakdown, burglary, etc. It does not cover wear and tear and

damage which happens gradually over a period of time which would normally be described as maintenance. We offer Business Suraksha policy to Shopkeepers Office Educational Institutions Hotels & Restaurants Housing Societies Benefits 1. Fire and Special Perils Building and Contents: This section broadly covers the damages caused by following risk, Fire ,Lightening, Explosion, Aircraft damage Riot/Strike, Malicious damage Storm, Cyclone, Flood and Inundation Impact Damage, Subsidence and Landslide including Rock slide, Bursting & or overflowing of water tanks, apparatus & pipes Earthquake Terrorism (Optional) Also following can be extended to cover the losses consequent to damage / loss by charging an additional premium... Rent for Alternate Accommodation. Tenants Legal Liability (Fire Damage- Building) Note: Building and Contents value shall be shown separately. Contents sum insured is mandatory. Sum insured value of building; FFF should be on reinstatement basis. Contents (stocks) should be on Market Value basis. Adequacy of sum insured of Building and Contents to be ensured to avoid underinsurance. 2. Burglary and Housebreaking: This section provides protection against the loss or damage to the contents and / or building of insured premises by Burglary and / or Housebreaking. Contents can be insured on First Loss Limits. Sum Insured value of contents (Stocks) should be on Market Value basis. 3. Electrical and Mechanical Appliances:

This section protects you from accidental mechanical or electrical breakdown of machineries or equipment whilst installed in the Insured Premises. The sum Insured of each equipment should be on Reinstatement Basis. 4. Electronic Appliances: This section of policy covers the repair or replacement costs of your Electronic Equipment caused by any unforeseen and sudden physical loss. The sum Insured of each equipment should be on Reinstatement Basis.

5. Money Insurance (Money in Transit/ Money in Safe/ Money in Counter): In business, transferring the money from one place to another often causes anxiety for everyone. This section protects your risks by: Money in Transit between the insured premises and specified bank and vice versa. Money in Safe. Money in Counter. 6. Infidelity / Dishonesty of employee: Employees are our greatest assets. Yet you face instances where your employees cheat you, this section cover such unusual events. This section covers you against: Any direct loss caused by act of fraud committed by any salaried employee in the insured premises. 7. Fixed Plate Glass: This section covers accidental damage to fixed plate glass, frames, and frameworks. 8. Neon Sign / Glow Sign: This section covers accidental damage to Neon Sign / Glow Sign by Fire, lightening, external explosion, theft, riots, strike & natural calamities, accidental external means. 9. Personal Accident: This section covers you, in case of Accidental Death, Permanent Total Disablement, and Permanent Partial Disablement. Maximum Limit for shopkeeper owner is Rs.10 Lacs and for each employees Rs 2 Lacs. 10. Workmen Compensation:

This section covers the liability towards your Workmen under the Workmen Compensation Act, Fatal Accidents Act and at Common Law under this section. 11. Public Liability: This section will compensate you, for the claims arising out of the third parties bodily injury or property damage occurring in your premises. This is in accordance with Indian Law. 12. Pedal Cycle: This section covers the repair or replacement costs in respect of the Pedal Cycle caused by any unforeseen, accidental and sudden physical loss. 13. Baggage: This section covers accidental loss caused to your personal baggage while traveling anywhere in India beyond 25 km radius of the insured premises.

14. Business Interruption (Fire Loss of Profit): This section provides cover against the loss of income following the loss or damage by standard fire and special perils.

Corporate Products:
Fire: Standard Fire and Special Perils Policy: Fire insurance policy is suitable for the owner of property, one who holds property in trust or in commission; individuals/ financial institutions who have financial interest in the property. All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer's premises, machinery temporarily removed from the premises for repairs can be insured. Coverage Includes Fire Lightning Explosion/Implosion Aircraft Damage

 Riot, Strike, Malicious Damage Storm, Typhoon, Hurricane, Tornado, Flood and Inundation Impact damage Subsidence and landslide including Rock slide Bursting and overflowing of water tanks, apparatus and Pipes Missile testing operations Leakage from Automatic Sprinkler Installation Bush Fire Non Motor Claims Process Insurance policies are contracts of insurance between the insured and Insurer. The insured needs to understand the policy issued to him before the loss occurs. Filing the Claims: Contact the Call center immediately. The intimation of the loss can be made through Broker / Agent / FG representative in any office of FG. It is desirable that the call be placed on our call center to avoid the loop in the communication. Kindly ensure that as far as possible the policy details are available with you before you intimate the loss. Contact on Phone / email / fax. In case of Fire loss: Contact the fire brigade / police. Try to minimize the loss and protect the property. In case of Theft/ Burglary claims: Loss should be reported to Police Authorities. In case of Marine transit loss: If you observe the damage to packing insist on open delivery. Qualify the BL/LR/RR/MTD/AWB. Submitting Documents: In support of your claim the insured may be required to submit the following documents:In case of Fire Policy Claims:

 Claim form, duly filled in & signed by the Insured. Inventory of loss. Repairs bills. Lab. Test reports, if required Photographs, if taken by the Insured Departmental Note about the incident Fire Brigade Report FIR & Police Panchanama. In case of Marine Claims: Policy/ Certificate of Insurance duly endorsed Invoice Packing List Surveyors Report Contract of Carriage i.e. Bill of lading, Air Way Bill, Lorry Receipt (Consignment Note), Railway Receipt (Original in case of Non - delivery) Documents pertaining to recovery.

In case of Engineering Claims: Claim Form Photographs Police report (first and final) Fire Brigade report Note: 3 & 4 may be waived where the survey report is clear and does not cause any doubt on occurrence as well as extent of loss. Where Occurrence of riot is in public knowledge, production of Final Police Investigation Report and Fire Brigade report may be waived. Give your contact details i.e. Phone Number / Cell number / Email Id and address where you are available. Maintain all the records of expenses incurred and all the copies of documents and correspondence exchanged in respect of the loss.

 Do not dispose of the damaged item before the surveyor has seen the damaged goods and permits to dispose it. Stock Loss: Try and make the detailed list of the stock damaged. If possible try to minimize the loss by segregating the damaged goods from the undamaged goods. Try to ascertain if the damaged goods can be restored to its original shape / state if so try to take steps to do so but in consultation with the surveyor. Keep the details of stock statement ready as on date of loss (before loss). Segregate the stock position into Raw materials, Stock in process, semi finished goods /finished goods/ others. Property Loss: Make detailed lists, of all damaged items identifying make and model numbers. Identify where and when you bought the item and its original purchase price. If it is safe to do so, take a good look around your property and make a note of any structural damage. Dont forget to look at all structures on the property such as sheds, fences, garage, etc. Obtain detailed written repair estimates from reliable, licensed contractors. The estimate should clearly give detail of labour and material needed. Liability Loss: Inform FG of the happening of an event which may give rise to a claim under the policy. Dont forget to take down the Name, address and telephone number of the witness which will help us if contributory negligence is there and to be proved. Property Damage Nature and extent of loss / damage, valuation, depreciation Contributory negligence Loss of use, loss of profits, increased cost of working, etc. as claimed. Bodily Injury / Death Age, Occupation, status, Income, Dependency, Age of the Dependents etc. Percentage of Disability supported by Medical Certificate. Contributory negligence.

 Forward the notice of the claim that may be received without admitting the liability to FG. Inquiry Procedure: As your Insurer, FGI strives to maintain the highest standard of service at all times. If you have an inquiry or concern regarding your policy or claim we encourage you to Ask us or your insurance broker and agent for an explanation. Have all the pertinent information and documentation available. Make sure that you keep a record of who you talked to and what was said. If your concern is still not addressed to your satisfaction we urge you to write to the Claims Head of the FGI office that issued you the policy. We will of course make every effort to resolve any problem in a fair and reasonable manner. Settling Your Claim: Once we agree on the terms of the settlement, payment will be sent promptly Additional covers: Earthquake (Fire & Shock) Spontaneous Combustion Deterioration of Stocks in cold Storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insured peril Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery in the Insureds premises due to operation of insured peril. Forest Fire Impact Damage due to Insureds own Rail/Road Vehicles, Forklifts, Cranes, Stackers and the like and articles dropped there from. Omission to Insure additions, alterations or extensions clause Removal of Debris (in excess of 1% of claim amount) Architect, Surveyors & Consulting engineers fees in excess of 3 % of claim amount. Spontaneous Combustion Spoilage Material Damage Cover Leakage and Contamination Cover Temporary Removal of Stocks

 Loss of Rent Rent for an Alternate Accommodation General Exclusion: Fire due to own fermentation, natural heating or spontaneous combustion of the stocks or by their undergoing any heating or drying process Burning by order of any Public Authority Explosion of boilers or steam generating vessels & machinery subject to centrifugal force by its own explosion or implosion Pressure waves generated by aircraft Total or partial cessation of work/retarding/interruption of any process or operations arising out of riot, strike, malicious damage Burglary, house breaking, theft, larceny arising out of riot, strike, malicious damage Impact damages by rail/road vehicle/animal belonging to the insured or employee or any occupier of the premises Normal cracking, settlement, bedding down, up heaving of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials Destruction or damage caused by forest fire Excess amount Loss or damage caused by war or war like situations Loss or damage by pollution or contamination except due to insured peril Loss or damage to electrical machine/apparatus, which is the source of fire Architects, Surveyors & Consulting Engineer's fees exceeding 3% and debris removal expenses Any consequential losses Rating: Rating depends on The type of occupancy-whether industrial or otherwise Claim experience Fire Protection System Deductible

 Loss of Profits (Consequential Loss) Policy

The Consequential Loss (fire) policy covers Loss of Gross Profit and/or increase in cost of working due to reduction in turnover/output due to operation of peril covered in the Standard Fire & Special Perils Policy. Coverage Includes Loss of Net Trading Profit Standing Charges Loss in Respect of Wages other than those covered by the Standing Charges Increased Cost of Working Auditor's Fees

Industrial all risk:

Scope of Cover A comprehensive coverage for the Industrial risks having overall Sum Insured of Rs. 100 crores and above in one or more locations in India. The Policy covers not only the Physical Losses or damage but also consequential losses arising out of the business interruption due to accidental unforeseen physical loss or damage to property. Policy Structure Section I - Material Damage which includes Fire & Allied perils, theft, Burglary, Machinery Breakdown, Boiler Explosion, Electronic equipment, etc Section II - Business Interruption - Fire Loss of Profit and Machinery Loss of Profit (MLOP is optional). Coverage IAR is an all Risk policy subject to specified exclusions in the policy. Deliberate erasure loss distortion or corruption of the information Deductible stated in the schedule.

Engineering Insurance:
Erection All Risk Policy:

Comprehensive and adequate insurance protection against all risks involved in the erection of machinery and plant as well as structures of any kind. This policy provides coverage to all types of projects including large projects such as erection of Thermal Power stations, Fertilizers Plants, Oil refineries or the installation of complete factory facilities, which bring about so many risks for both the contractors and the principal. Coverage right from the moment the material are unloaded on the site of the projects/ works and continues during storage, physical erection and till the test run is over. Scope of cover: this policy covers risks associated with storage, assembly/erection and testing of Plant and Machinery. EAR insurance provides comprehensive cover. All perils are covered unless specifically excluded. Cover incepts from the time of unloading of the first consignment at the project site and terminates on completion of testing or handing over of the project to the Principal, or the period chosen, whichever is earlier. Period of Cover: The insurance cover commences from the date of arrival of first consignment at the site of erection and continuous until immediately after the first test operation or test loading is concluded. Additional Covers: Escalation Clearance and Removal of Debris Third Party Liability Extended Maintenance Damage to Owners Surrounding Property Express Freight Additional Customs Duty Holiday and Overtime rates and Wages Rating The rating depends on: Type of projects Period of projects Testing period

 Sum insured of Project Deductible Location of project Extensions opted

Contractors all risk:

Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels, etc). These projects includes accidental damage to civil Construction works, contractor's plants & machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle. Scope of cover Contractors all risk Policy covers the risk of accidental physical loss or damage in respect of the contract works, during the execution of a civil project. CAR insurance provides an all risk cover. All perils are covered unless specifically excluded. Cover incepts from the Commencement of work or after unloading of first consignment at project site, whichever is earlier and terminates on handing over of works to the principal or expiry of policy, whichever is earlier. General Exclusions Willful misconduct Cessation of work whether total or partial Delay Damage due to faulty design Rectification of defective material Workmanship inventory losses Period of Cover The cover attaches with the commencement of work or after the items entered in the schedule of the policy have been unloaded at the site whichever is earlier and shall expire on the date specified in the policy. However, company's liability expires for parts of the insured contract

works taken over or put into service by the Principal prior to the expiry date specified in the policy whichever shall be earlier.

Additional Covers Third Party Liability. Owners Surrounding Property. Escalation. Maintenance Cover. Clearance and Removal of Debris. Contractor's Plant and Machinery Rating Rating depends on: Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted Machinery Breakdown: The policy covers unforeseen and sudden physical damage to any mechanical and electrical machinery and/or equipment by any cause necessitating repairs and/or replacement. Scope of cover The Insurance Policy broadly covers loss due to all kinds of accidental, electrical and mechanical breakdowns due to internal and external causes. Cover is granted during the time the machinery is in operation or rest or in the process of dismantling, overhauls or during subsequent re-election at the same premises. General Exclusions Fire and allied perils Theft Overloading experiments Willful acts or gross negligence

 Gradually developing flaws Deterioration from normal use Additional Covers Air Freight Express Freight (excluding Air Freight) Overtime & Holiday Wages Insureds own Surrounding Property Third Party Liability Rating Type of machine Deductible

Contractors Plant & Machinery:

Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels etc). These projects includes accidental damage to civil Construction works, contractor's plants & machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle. Scope of cover: Contactors Plant & Machinery policy covers loss or damage to the contractors property due to any cause that is accidental and external in nature. Cover operates when the insured property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection. Period of Cover: The cover attaches with the commencement of work or after the items entered in the schedule of the policy have been unloaded at the site whichever is earlier and shall expire on the date specified in the policy. However, company's liability expires for parts of the insured contract works taken over or put into service by the Principal prior to the expiry date specified in the policy whichever shall be earlier. Additional Covers: Third Party Liability.

 Clearance and Removal of Debris. Additional Customs Duty. Overtime, express freight. Owners Surrounding Property. Rating Rating depends on: Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted

Boilers & Pressure plant:

The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types of Boilers and/or other pressure plants, where steam is being generated.

This policy covers for physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items. Coverage Includes Steam Generating Boilers both fixed and unfixed against the risk of Explosion or Collapse. General Exclusions Loss or damage due to fire and allied perils. War and nuclear risks. Loss arising out of overload, experiment or test. Gradual developing flaws, defects, cracks or partial fractures. Failure of individual tubes. Explosions/ Collapse due to facts, existing at the time of commencing insurance, known to the insured. Consequential losses. Willful Negligence.

 Damage by Chemical explosion except in recovery boilers and waste heat boiler. Additional Covers Express freight Air freight Owners surrounding property Third part liability Additional custom duty Escalation Clause

Rating Type of Boiler Age of Boilers

Electronic Equipment:
The electronic equipment insurance policy is an all risk policy designed for computers, medical, biomedical, microprocessor, and audio/visual equipment including the value of system software. Rates are terrified. Scope of cover Cover operates when the insured property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection. The Policy provides coverage for: Material damage to electronic equipment (which can include systems software) due to sudden and unforeseen events, under Section I, Cost of external data media, including cost of reconstruction of data under Section II, as also increased cost of working under Section III. While Section I is compulsory, Section II and Section III are optional. Additional Covers Express freight Air freight Owners surrounding property

 Escalation Third party Liability Additional custom duty Rating The rating depends on: Type of Equipments Deductible Annual Maintenance Contract

Machinery Loss of Profits:

Machinery loss of profit covers consequential loss suffered by insured as an inevitable consequence of accidental breakdown of any machinery. Scope of Coverage: Coverages are the same as under machinery breakdown insurance. If the loss is admitted under machinery insurance, MLOP will be triggered subject to availability of cover. Rating The rating depends on: The general and the specific technical risk of the machinery to be insured The moral and technical hazard relating to the user The effect of machinery breakdowns on the operating profit and standing charges (factor of relative importance) The reserve facilities and spare parts available The possibilities of loss minimization The general economic and political conditions

Marine Cargo Insurance:

It deals with insurance of goods in transit through following modes of transport:

Sea Rail Road

Air Inland waterways Post Parcels

Accident and Health:

Health is wealth. Well-being is an overall feeling of being in good health and being in control of yourself, your situation and your finances. There is a lot you can do to ensure your well-being. But life, unfortunately, follows no fixed plan. Sudden illness or bodily injury can sometimes leave you financially hurt and highly stressed. This is where Health Insurance steps in. It is insurance that takes care of your medical expenses or treatment expenses and ensures quality health care for you. Now is the time to insure yourself and your family against rising health-care costs. In this world of uncertainty nobody is sure when ones dear one will fall victim to diseases and need hospitalization. This policy certainly helps you to get out of the financial trauma caused by hospitalization and protects you and your family in case you need medical care. Coverage includes Medical insurance covers almost everything- from the time you step into the hospital to the time you are discharged. The normal costs that are covered are room and boarding expenses, nursing expenses, fees for the surgeon, anesthetist, medical practitioner and consultant, fees for specialists, charges for anesthesia, blood, oxygen and the operation theatre, charges for surgical appliances, medicines and diagnostic tests. Cashless facility eliminating the entire trouble of documentation and direct settlement of your bills directly with the hospital. Related expenses during pre-hospitalization period and post hospitalization period up to 30 days and 60 days respectively. Maternity Benefit subject to additional premium. Less than 24 hours hospitalization due to technical advancement for specified procedures like Dialysis, Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery, Lithotripsy (Kidney stone removal), D. & C. Tonsillectomy etc. Advantages Family Floater

 Cashless Hospitalization facility Large Hospital Network of more than 4000 Hospitals across India Innovative covers offered Tailor based additional benefits Fast & Efficient Settlement of claims

Liability:
Scope of cover Public Liability Act Insurance Policy is available to protect you against liability arising out of: Any accident affecting any person/persons occurring while handling hazardous substances as listed in the Gazette notification issued under the PLI Act 1991 Exclusions Any willful non-compliance of statutory provision Fines, penalties, punitive and/or exemplary damages Arising out of damage to property owned, leased or hired or under hire purchase or on loan to the Insured or otherwise in the Insured's control, care or custody War and nuclear group of peril Injuries and damages to employees, workmen Note: You Must Note All written communication received from the Collector be expeditiously brought to our attention and any information required there in be furnished immediately No admission of liability be made without concurrence of insurance company Claims lodged after five years of their occurrence will not be entertained The company can ask for turnover records and other claim related documents Proportion payable in case of other insurance policies existing Non-disclosure or misdescription would prejudice your claim Documents required for settlement of claims: Claim form, Award passed by the district collector Summons, writ petitions, Police report if any

Miscellaneous: (Burglary Insurance Policy)

Scope of cover Unfortunately in today's life, crime rates have sharply increased. At every step, there is an exposure to risk - at factories, offices, warehouse, shops etc. Occurrences like housebreaking, dacoit, robbery or burglary of contents at your office, warehouse, shop, industry can bring about a huge financial loss to your business. Although it is not possible to completely insulate your business from all such occurrences, you can still take necessary safeguards against them. Burglary and Housebreaking Insurance Policy is just the right kind of cover for your business in such times of need. A Complete Protector ITGI's Burglary and Housebreaking Insurance Policy grants coverage in respect of all types of insured property such as stock in trade, goods held in trust or commission, furniture, fixture, fittings, money in locked safe and any other item or equipment. Barring a few specified Exclusions, the Policy offers protection to the insured property against all incidents of burglary and housebreaking, including robbery and dacoit. This Policy is specially meant for those individuals or organizations who own valuable items or property exposed to the aforesaid risks, for which a comprehensive insurance coverage is required. Benefits Our Policy provides protection against loss of or damage to insured property due to burglary and housebreaking i.e. theft following upon an actual, forcible and violent entry to or exits from the insured premises and also damage to the premises themselves by burglars such incidents. Level of Coverage In Burglary Policy, the Sum Insured should be fixed on current market prices for stocks. For other items such as furniture, fixture, equipments etc., it can be fixed either on Market Value (i.e. new replacement cost less depreciation) or on Reinstatement Value basis. Further, to cover the fluctuating stocks at one place or at many places or variations due to seasonality, you can choose from our Floater, Declaration or Floater Declaration Policies. You can also opt for our First Loss Policy where the Sum Insured chosen by you is a percentage of the full value of property in respect of stocks of bulk nature, where it is impossible for the entire stocks/contents to be burgled at one time.

Exclusions Some of the important Exclusions under the Policy are listed below: When your family member or staff is a principal or accessory in the incident. Act of persons lawfully on the insured premises. Acts consequent to fire, explosion, riot, strike, convulsions of nature like earthquake etc. War and nuclear risks. Premises left unoccupied and unattended for over seven days. Loss of cash from safe using duplicate key, unless the key is obtained by threat or force. Any consequential loss.

Money Insurance Policy:

Scope of cover Money Insurance Policy is available to protect your business establishment against loss of money in Transit whilst being carried by an authorized representative by robbery, hold up or any other fortuitous cause. Money in premises during or after business hours - in safe Apart from the above, we also cover: Loss of or damage to your Safe, Strong room or Cash boxes or franking machines or cash bag or waist coat when such are used for the 'carriage of Money subject to a maximum of Rs. 10,000 Loss of personal Money or damage to clothing and personal effects of your Director or employee subject to a maximum of Rs.5000 Exclusions Shortage due to error or omission Loss of Money and/or damage to property entrusted to any other person

 Loss where you or your authorized representative is involved as principal or accessory except loss due to framing by cash carrying person (reported within 48"hours) Loss occurring on the Premises after business hours if cash has not been kept in a locked Safe or Strong room Loss occasioned by Riot, Strike and Terrorist Activity Money carried under contract of affrieghtment Theft of Money from an unattended vehicle War, nuclear risks and orders of public authority Damage caused by wear & tear and depreciation Consequential loss of any kind Loss of Money and/or other property abstracted from safe following the use of key to the said safe or any duplicate thereof belonging to you unless such key has been obtained by force. Note: That a proper accounting record be kept at your end which we can inspect, this record and the duplicate keys be kept safely away from the safe or strong room where the money is kept. The premium is calculated on estimated annual carryings for money in transit For money in safe it is calculated on limit of any one loss

Rural Products:
Scope of cover The functioning of key equipment and availability of resources are critical for a farmer's success. Future Generali aims at providing an exclusive cover in the event of loss or damage to Agricultural Pumpsets. Comprehensive cover includes: Loss of or damage to Pumpsets due to Accidental fire, Lightning Sudden and unexpected mechanical or electrical breakdown, Riot, strike or malicious damage Reimbursement of cost incurred by the Insured for dismantling and erecting the Pump Set and transporting it to the closest repairer.

Exclusions Loss or damage due to wear and tear, gradual deterioration, atmospheric or climatic conditions, etc Any maintenance costs for the set or any replacement parts which are consumable in nature; The cost of rectifying functional failures unless due to an insured event under this Cover. Ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste War or War like conditions Earthquake, flood, storm, cyclone or other convulsions of nature or atmospheric disturbances Act of terrorism. Claim procedure: Motor Claims Non Motor Claims Overseas Travel Claims Health Claims Personal Accident Claims

Motor Claims:
If any person is injured in the accident, attend to the person first. Give him the necessary first aid. Arrange to shift the injured to hospital. Inform police about the accident. Kindly keep following information ready before intimating the loss. Complete policy number Insured Name and contact number Name of the driver driving the vehicle at the time of accident Place of accident Vehicle registration number Vehicle type & model Brief description of accident Date and time of accident Current location of the vehicle

 Move the vehicle to garage and we will depute the surveyor to assess the loss. Surveyor will get in touch with you. Hand over documents to surveyor / Garage Filled claim form with all mandatory fields. Copy of insurance-policy/ cover note. Copy of registration certificate, tax receipt, sales invoice (please provide original for verification). Copy of motor driving license (with original for verification) of the person driving the vehicle at the time of accident. FIR / Police Panchanama (For theft/third party property damage/death/bodily injury/Major Loses/) Estimate of repair from the repairer. Copy of Fitness certificate( applicable for commercial vehicle) Copy of Permit ( applicable for commercial vehicle) Copy of Load Challan (applicable for goods carrying vehicle) Kindly Note: Shift the vehicle safely to the side of the road to avoid further damage or and intimate Future Generali Contact Centre for further advice. Surveyor will inspect the vehicle at workshop .It is advisable to be present in workshop during surveyors visit. Provide requisite document to surveyor as mentioned above. Please furnish original documents for verification wherever required. In case where vehicle is being repaired at Future Generali Convenient Workshops the payment will be made directly to the workshop and insured has to bear the difference amount as per policy conditions. Information about the approved claim amount and deductions on account of depreciation/excess if any will be made available to the garage before delivery of the vehicle. Insured may ask for the same from repairer. For all workshops except Future Generali Convenient Workshops, you are required to settle the bill with workshop and submit bills along with receipt to the Future Generali for claim settlement as per surveyor report.

 Submit bill to the surveyor or Future Generali office for claim settlement as per surveyor report. Claim settlement will take approximately 7 days from the date of submission of final document(s), provided all document(s) are in order. Do Not Make any compromise with any third party in case of an accident involving third party. Leave the vehicle unattended at the spot. Proceed with accident repairs before the vehicle has been inspected by the surveyor.

Overseas Travel claim:

If you are suffering from an illness / disease or meet with an accident which requires visit to the doctor or hospitalization, contact International SOS, a service provider appointed by us for your assistance. It is mandatory to intimate the claim to the service provider, even if you do not need any assistance and will be submitting a claim on your return to India. Claim if not intimated to the service provider is liable to get rejected. While intimating the claim, TPA may ask for certain information as mentioned: Policy Number Name of the Insured Address where insured is residing while abroad Complaints / Illness / Disease for which hospitalized Hospital name / location / date of admission if hospitalized Name of the treating / attending doctor Date and time of accident and brief description of accident along with place of accident (for accident cases) Name & contact details of person intimating the claim Contact no and e-mail id of insured for future correspondence On intimating the event as stated above, International SOS, as the case may be, will guarantee to the service provider the costs of hospitalization, transportation for emergency services, transportation home for you and any covered accompanying person and financial emergency assistance. All costs will be directly settled by the Service

Provider on our behalf and the same shall constitute due discharge of our obligations hereunder. In the event of Emergency Medical Evacuation and Repatriation of Mortal Remains, contact immediately to the International SOS Alarm Centre through Help Line. International SOS will assist you as the case may be and all costs will be directly settled by the Service Provider on our behalf and the same shall constitute due discharge of our obligations hereunder. In the event of assistance towards pre-trip information, Embassy referral, lost luggage, lost passport, Weather and exchange rate information, Emergency message transmission, Arrangement of hotel accommodation, Appointment with local doctors, and Dispatch of Essential medicine, contact International SOS through Help Line / Email. Reimbursement of all claims (except claims under Financial Emergency Assistance) will be made by the International SOS in Indian Rupees on your return back to the Republic of India, at the exchange rate specified by the Reserve Bank of India ,as applicable on the date the amount is billed. Claims under Financial Emergency Assistance shall be settled / arranged directly to you, whilst abroad, by the Service Provider. Claim documents must be submitted for reimbursement to the International SOS not later than one 1 month after the return date or the completion of the treatment or transportation home, or in the event of death, after transportation of the mortal remains / burial.

Health Claims Procedure:

If you are suffering from an illness / disease or meet with an accident which requires hospitalization, contact Third Party Administrator, a service provider appointed by us for servicing your health policy. It is advisable to get hospitalized in a Network hospital and undergo Cashless access. If you are not able to utilize the cashless access, pay the hospitalization expenses and submit the bills to service provider for Reimbursement. It is mandatory to intimate the hospitalization to your service provider through Email/ Toll Free Line / Fax. For more details visit the website of TPA http://www.dhs-india.com http://www.phmhealth.com

 http://www.mdindia.com While intimating the hospitalization, TPA may ask for certain information as mentioned: Policy No. TPA Health Identity Card No. Name of the Insured / Patient Group / company name & Employee No (for Group Mediclaim) Hospital Name & Location Date of admission Date of discharge (if known) Illness / disease for which hospitalized and treatment details. In case of an accident, mentioned information would be asked while intimation of hospitalization: Date & time of accident / loss Brief description of accident along with place of accident Name and address of police station if FIR filed Name of person who took insured to hospital Note: Hospitalisation if not intimated to service provider is liable to get rejected. Cashless Claims Procedure To avail cashless benefit, intimate the hospitalization through Preauthorization Request Form atleast 72 hrs prior to getting hospitalized. In case of an emergency hospitalization, you need to intimate within 24 hrs of hospitalization but before your discharge from the hospital. You can collect the preauthorization request form from the hospital (billing department or a TPA co-ordination department). If not available at the hospital, you can download from the TPA website or collect from the nearest TPA office. Hospital will check for TPA ID card and any photo identity card for the reason of identity proof. Get the preauthorization form filled and signed by the treating doctor, put your sign on the form and hand over to the hospital for the process. Hospital will stamp the form and fax it to TPA for authorization.

TPA will process the preauthorization request and authorize the reasonable amount for hospitalization based on policy terms and conditions. Authorization letter will be faxed to the hospital from TPA office and simultaneously you will be kept informed on authorization.

Procedure to be followed at the time of discharge: Sign the final bill and check the bill for correctness. Ensure that all supporting documents are attached to the bill. You must pay all bills not associated with the condition for which hospitalization was authorized and the amounts towards non medical expenses. Retain a copy of the final bill and discharge summary. Sign a Future Generali claim form filled in all respects and give it to the hospital along with copy of all previous relevant consultation letters before discharge. Hospital will submit the claim documents to TPA office for claim processing.

Reimbursement Claims Intimate the hospitalization atleast 72 hrs prior to getting hospitalized. In case of an emergency hospitalization, you need to intimate within 24 hrs of hospitalization. Take the necessary treatment at the hospital and settle the hospitalization bills. Before getting discharge collect all original hospital papers (including discharge summary) and hospital bills. Submit the hospitalization documents (including hospital bills) to TPA office for claim processing within 7 days of discharge from the hospital. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.

Pre-hospitalization and Post-hospitalization Claims Submit the claim documents to TPA office for claim processing within 7 days of completion of treatment. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.

Personal Accident Claims Procedure:

If any person meets with an accident, attend the person first. Give him the necessary first aid. Arrange to shift the injured person to the nearest hospital. It is mandatory to intimate the accident to Future Generali through Keep the following information ready before intimating the claim Policy No. (Policy to be issued before registration if not done earlier) Name & contact details of person intimating the claim Date & time of accident / loss Nature of loss, Place of loss and Brief description of loss Name of the hospital if insured is hospitalized Name and address of police station if FIR filed Name of person who took insured to hospital Contact no. and address if insured is not at the address given in the policy Designation and grade of the person and since when he is covered under the policy (for group policy) Name of attending physician and family physician e-mail id of insured for future correspondence

Note: Accident claim if not intimated to Future Generali is liable to get rejected In case the insured is hospitalized, kindly collect all the hospitalization documents at the time of discharge. Submit the claim documents to Future Generali office for claim processing within 7 days of completion of the treatment. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.