MANAGEMENT

Detailed explanation-1: -The policyholder pays a certain amount called ‘premium’ to the insurance company against which the latter provides insurance cover. The insurer assures that it shall cover the policyholder’s losses subject to certain terms and conditions. Premium payment decides the assured sum for insurance coverage or ‘policy limit’.

Detailed explanation-2: -Insurance coverage refers to the amount of risk or liability that is covered for an individual or entity by way of insurance services. The most common types of insurance coverage include auto insurance, life insurance and homeowners insurance.

Detailed explanation-3: -Shriram Business Protector Policy is a one-stop solution for businesses/shopkeepers/individuals who own expensive business assets/properties. This policy covers business owners against various threats, including fire, damage to el ectronic equipment, burglary, money theft, bodily injury to the insured, etc.

Detailed explanation-4: -The insurance premium is the sum of money an individual or business must pay for an insurance policy. The amount of insurance premium that is paid out by the policyholder to the insurance company depends on a variety of factors.