General Insurance

A financial protection for people from unpredicted losses.
Life is full of risks, but does that means that we should never attempt anything in life. The risk in life makes it interesting and exciting. Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, or insurance carrier.
A person or entity who buys insurance is known as an insured or policyholder.
The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss.

The loss may or may not be financial, but it must be reducible to financial terms and must involve something in which the insured has an interest established by ownership, possession, or pre-existing relationship.

The insured receives a contract, called the insurance, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium.

If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.


General insurance is typically defined as any insurance that is not determined to be life insurance.

General insurance can be categorised in to following:

Motor Insurance: Motor Insurance can be divided into two groups, two and four wheeled vehicle insurance.

Health Insurance: Common types of health insurance includes: individual health insurance, family floater health insurance, comprehensive health insurance and critical illness insurance.

Travel Insurance: Travel insurance can be broadly grouped into: individual travel policy, family travel policy, student travel insurance.

Home Insurance:Home insurance protects a house and its contents.

Marine Insurance: Marine cargo insurance covers goods, freight, cargo, and other interests against loss or damage during transit by rail, road, sea and/or air.

Commercial Insurance: Commercial insurance encompasses solutions for all sectors of the industry arising out of business operations.