Business Standard

General Insurance: Gaurav Garg

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I am 31 and have my own business. I recently started supplying plastic to few manufacturers in and around my factory which is located in Andheri. I have a godown of about 5,000 sq ft. I want to get my factory and godown insured against fire. Also, what are the other risks I must consider?
Standard fire policy can be opted to insure your factory and godown against the risks of fire, earthquake, storm, tempest, flood, riot, strike and so on. While choosing an insurance policy for your factory or godown, you could also consider opting for a ‘package policy’ which offers various covers in a single policy at an optimum price. The various hazards covered under the package policies are fire and allied perils, earthquake, terrorism, burglary, money (safe and in transit), business interruption, plate glass, fidelity (financial loss due to employee dishonesty) and public liability (third party liability). It is always advisable for both, the home and shop owners, to choose an insurance cover from a well known, financially stable insurance company and from a brand that they can trust in the long run.

As a customer, I would like to understand if I am liable to get the assessment report (after the surveyor has finished inspecting) in case my car meets with an accident? Or, does the report go directly to the insurance company? Do insurers charge for this report?
are normally sent to the insurance company. However, a customer is entitled to receive a copy if he so desires at absolutely no cost.

A media report said surveyors appointed by insurers can at times be investigators, too. While, the customer doesn’t know if the person assessing his case is a surveyor or investigator, what is the difference? Is an investigator better than a usual surveyor appointed? Are there chances this would affect the conclusions of any case?
A surveyor is one who is licensed by the Insurance Regulatory and Development Authority (Irda) to arrive at the quantum of loss post inspection of the loss. An investigator, on the other hand, is a professional hired to look into suspicious claims and coordinates with various other authorities in order to verify the facts and figures. At times a surveyor could also be utilised as an investigator if the nature of investigation is technical in nature. It could affect the conclusions of a case if the findings of the investigator reveal any breach of policy terms and conditions.


The writer is the MD and CEO of Tata AIG General Insurance.

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