sbi life insurance .docx

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SBI General Insurance CompanyLimited is a joint venture between the State Bank of Indiaand Insurance Australia Group (IAG). SBI has a 74% stake in the company while the remainderis held by IAG. SBI General Insurance Company is headquartered in Mumbai, the commercialcapital of India.

State Bank is the largest banking franchise in India and. Along with its seven associate banks, ithas the strength of over 18,500 branches across the country and the largest in the world.

Insurance Australia Group Limited (IAG) is an international general insurance group, withoperations in Australia, New Zealand, the United Kingdom and Asia.

SBI General Insurance has a team of highly experienced professionals in place to ensure that thecompany functions in sync with its vision and goals. RR Belle is the CEO and ManagingDirector of SBI General Insurance.

A variety of insurance products are offered by SBI General to suit the different individual needs

and preferences of the customers. These include insurance products with respect to motor, travel,health, accident and home insurance. The company also caters to SME and corporate clients withcustomized solutions for insurance and risk consultancy, liability, property, liability, marine andmiscellaneous.

SBI Life Insuranceis a joint venture life insurance company betweenState Bank of India(SBI),the largeststate-ownedbanking andfinancial servicescompany in India, andBNP Paribas

Assurance. SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26% ofthe capital. SBI Life Insurance has an authorized capital of 20 billion (US$330 million)and apaid up capital of 10 billion (US$170 million).

In 2007,CRISILLtd, a subsidiary of global rating agencyStandard & Poor's,gave the companya AAA/Stable/P1+ rating.[2][3]

History[edit]

When thegovernment of Indiaopened the life insurance sector to private companies,SBIstartedSBI Life as a joint venture with BNP Paribas in 2001. While in its initial stage its business was

mainly frombancassurancechannel, now it is developing its own agency team for selling its lifeinsurance products.

References[edit]

1. Jump up ^Products by SBI lifeInsurance Regulatory and Development Authority,(IRDA)website.

2. Jump up ^"SBI Life Insurance gets top rating".Mint. 1 October 2007.
http://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Financial_servicehttp://en.wikipedia.org/wiki/Financial_servicehttp://en.wikipedia.org/wiki/Financial_servicehttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/CRISILhttp://en.wikipedia.org/wiki/CRISILhttp://en.wikipedia.org/wiki/CRISILhttp://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-2http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-2http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-2http://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=1http://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=1http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Bancassurancehttp://en.wikipedia.org/wiki/Bancassurancehttp://en.wikipedia.org/wiki/Bancassurancehttp://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=2http://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=2http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-1http://www.irdaindia.org/lifeproducts/SBI.htmhttp://www.irdaindia.org/lifeproducts/SBI.htmhttp://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authorityhttp://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authorityhttp://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authorityhttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-2http://www.livemint.com/2007/10/01000853/SBI-Life-Insurance-gets-top-ra.htmlhttp://www.livemint.com/2007/10/01000853/SBI-Life-Insurance-gets-top-ra.htmlhttp://www.livemint.com/2007/10/01000853/SBI-Life-Insurance-gets-top-ra.htmlhttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://www.livemint.com/2007/10/01000853/SBI-Life-Insurance-gets-top-ra.htmlhttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-2http://en.wikipedia.org/wiki/Insurance_Regulatory_and_Development_Authorityhttp://www.irdaindia.org/lifeproducts/SBI.htmhttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-1http://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=2http://en.wikipedia.org/wiki/Bancassurancehttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/w/index.php?title=SBI_Life_Insurance_Company_Limited&action=edit&section=1http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-2http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-2http://en.wikipedia.org/wiki/Standard_%26_Poor%27shttp://en.wikipedia.org/wiki/CRISILhttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/Financial_servicehttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/State_Bank_of_India


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3. Jump up ^"India's SBI Life Insurance rated 'AAA' on parental support - Crisil".Forbes.09.17.07.

Type Joint Venture

Industry Insurance

Founded March 2001[1]

Headquarters Mumbai,India

Key people Mr. Atanu Sen, MD & CEO

ProductsLife insurance

Pensions

Owner(s) SBI,BNP Paribas

Employees 7,334 on-roll employees and 96,000 agents

Unit Linked Plans

Introduction:

Unit Linked Insurance Plans are long term investment cum protection plans that offer you an opportunity of availing

market linked returns while providing life insurance protection. Depending on your risk appetite, you have the option

of choosing from host of funds having varied degree of risk exposure. Flexibility and transparency are some of the
http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-3http://www.forbes.com/feeds/afx/2007/09/17/afx4123027.htmlhttp://www.forbes.com/feeds/afx/2007/09/17/afx4123027.htmlhttp://www.forbes.com/feeds/afx/2007/09/17/afx4123027.htmlhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-1http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-1http://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-1http://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/File:SBI_Life_Insurance_Company_Limited.svghttp://en.wikipedia.org/wiki/BNP_Paribashttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Life_insurancehttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_note-1http://en.wikipedia.org/wiki/Types_of_business_entityhttp://www.forbes.com/feeds/afx/2007/09/17/afx4123027.htmlhttp://en.wikipedia.org/wiki/SBI_Life_Insurance_Company_Limited#cite_ref-3


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other attractive features that make ULIPs an attractive long term investment option.

To help you fulfill your long term dreams, SBI Life presents you a wide range of ULIPs so that you continue toCelebrate Life!

SBI General Insurance Company

SBI General Insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group

(IAG). SBI owns 74% of the total capital and IAG the remaining 26%.

SBI General closed the financial year 2013-14 (4th year of operation) with a Gross Written Premium of Rs.1188 Crores

registering a growth of 54 %. During the year 2013-14, SBI General in association with State Bank of India covered over 1.5

Crore Saving Bank Account holders of SBI with a Personal Accident Insurance cover. SBI General has also established its

presence in nearly 14,000 Branches of State Bank of India.

SBI General follows a robust multi-distribution model encompassing Bancassurance, Agency, Broking & Retail Direct

Channels. Today, SBI Generals Distribution family includes over 11,000 IRDA certified SBI & its Associate Bank employees

and over 4,800 Agents.

SBI General's current geographical coverage extends to 56 cities pan India and presence in another 350+ locations through

satellite resources. SBI General is currently serving three key customer segments i.e. Retail Segment (catering to Individual

& Families), Corporate Segment (catering mid to large size Companies) and SME Segment.

Current Policy offering of SBI General covers Motor, Health, Travel, Personal Accident & Home Insurance for Individuals

and Aviation, Fire, Marine, Package, Construction & Engineering, Liability, Group Health, Group Personal Accident &

Miscellaneous Insurance for Businesses

Joint venture

State Bank of India enjoys the largest banking franchise in India. State Bank of India is country's largest & a premier

commercial Bank in terms of balance sheet, profits, assets, deposits, branches and employees.

Along with its 5 Associate Banks, SBI Group has the unrivalled strength of over 19,600 branches across the country,

arguably one of the largest in the world.

State Bank of India is today going through a momentous phase of Change and Transformation.

The Bank has ventured into many new businesses with strategic tie ups in Pension Funds, General Insurance, Custodial

Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc

each one of these initiatives having a huge potential for growth.

The Bank is surging ahead with cutting edge technology and innovative new banking models, to expand its reach.

With 22,983 ATMs of its own & 28,198 ATMs including its associate banks (as of 31st December 2012) complementing its

19,698 branch network, State Bank of India today offers one of the largest banking network to the Indian customer.

To know more about State Bank of India, visitwww.sbi.co.in

About Insurance Australia Group

Insurance Australia Group (IAG) is a general insurance group with operations in Australia, New Zealand and Asia. IAG's

businesses underwrite approaching A$10 billion of premium per annum and employ over 13,500 people.

IAG operates some of Australia's leading general insurance brands including NRMA Insurance, CGU, SGIO, SGIC and

Swann Insurance. IAG's heritage dates back to 1925 when the National Roads and Motorists' Association (NRMA) started

providing insurance to its members in New South Wales (NSW) and the Australian Capital Territory (ACT). Products are

sold:

Directly to customers through both branch and agency networks throughout Australia as well as via call centres and on-line facilities; and

Indirectly to customers through intermediary channels, including insurance brokers, authorised representatives, motordealerships and financial institutions.

IAG is the leading general insurer in New Zealand, through its NZI, State and AMI brands. State and AMI cover

predominantly personal assets, such as homes and vehicles, and sell policies directly to the public. NZI specialises in

providing business, rural and personal insurance through brokers. In Asia, IAG holds controlling interests in Safety
http://www.sbi.co.in/http://www.sbi.co.in/http://www.sbi.co.in/http://www.sbi.co.in/


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Insurance (Thailand) and AAA Assurance (Vietnam). It also has interests in AmGeneral Holdings Berhad, the general

insurance arm of AmBank Group (Malaysia); SBI General Insurance Company, a joint venture with State Bank of India; and

Bohai Property Insurance Company Ltd (China).

IAG is an ASX top 30 company with a market capitalisation in excess of A$12 billion.

IAG has been assigned a 'Very Strong' Insurer Financial Strength Rating of 'AA-' by Standard & Poor's for its key

wholly owned insurance companies. IAG is ranked in the Dow Jones Sustainability Index.

vision

Be the most trusted general insurer in India with fair and transparent business practices, leading the Nation's effort

in increasing insurance penetration

Content should be covered in the project as under:

Type of Insurance Organization

History & Growth Of organization

Achievements or milestones of organization

Details of Various Insurance Plans & Products offered by organization

Plan flexibility offered by organization

Claim management process of organization (with claim success ratio)

Fire InsuranceStandard Fire and Special Perils InsurancesTake Control of your business's destiny with the help of SBI General Insurance:

With product like Standard Fire & special Perils Insurance Policy, you can safeguard your assets that you value most.

Basis for Indemnity - As the Policy can be availed of either on Market Value or on Reinstatement Value of the property being

insured, the basis of indemnity also differs accordingly. In either case, if the Sum Insured is less than the amount required to

be insured, the Company will pay only in such proportion as the Sum Insured bears to the amount required to be insured.

Every item (if more than one) shall be subject to this condition separately.

Key Benefits

Indemnity on market value basis - Replacement value less depreciation for the usage

Optional benefit - Replacement Value or Reinstatement Value basis

Multiple options - Stocks on Declaration basis or floater basis or Floater Declaration Basis

Following are the unique features of this policy:

Named perils policy

Named exclusions

Standard cover across a types of customer segment


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Coverage

This Policy covers various assets like Building, Plant and Machinery, Stock, Furniture, Fixtures and other immovableand movable assets against loss or damage due to,

Fire

Lightning Explosion / Implosion

Aircraft Damage

Riot, Strike, Malicious Damages and Terrorism

Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornodo, flood, inundation,

Impact damage

Subsidence, Landslide and Rock slide

Missile Testing operations

Bush Fire

Bursting and/or overflowing of Water Tanks, Apparatus and Pipes

Leakage from Automatic Sprinkler Installations

Further, on payment of additional premium, the following additional coverage can be opted

Architects, Surveyors and Consulting Engineers fees (in excess of 3% of claim amount)

Debris Removal (in excess of 1% of claim amount)

Deterioration of Stock in Cold Storage

Forest Fire

Impact Damage by insured's own vehicles etc.

Spontaneous combustion

Omission to insure Additions, Alterations or Extensions

Earthquake (Fire and Shock)

Spoilage Material Damage Cover

Leakage and Contamination Cover

Loss of Rent

Alternative Accommodation

Start Up Expenses

Terrorism Cover

Sum Insured

Property can be insured on depreciated cost (Market Value) or replacement cost basis. In order to get full protection,

insurance on reinstatement (replacement) basis is recommended. However Stock should be covered only on Market Value

basis. The Sum Insured can be reinstated after occurrence of a claim for the balance period of the Policy

Exclusions

We would like you to be familiar with some of the major exclusions under the Policy. This will ensure you are not putto any kind of inconvenience while making your claim. At SBI General, we endeavour to make our Policy as

transparent as possible.

ArisingExcess under the policy

War and war like perils

Nuclear risks

Pollution or contamination even caused by insured perils

High value items like gold, cash unless specified


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Stocks inside the Cold Storage

Damage to equipment caused by electrical short circuit. However subsequent damages arising out of such fire iscovered

Expenses incurred towards Architects, Surveyor's and Consulting Engineer's fees in excess of 3% of claim amount

Expenses incurred towards removal of debris in excess of 1% of claim amount

Loss of earnings, markets, loss by delay, any other consequential losses

Spoilage of material due to stoppage even though stoppage may be due to operation of perils insure

Loss by theft during or after the occurrence of any loss / peril

Earthquake, volcanic eruption

Property not in the premises or removal of property to any other premises except machinery sent for repairs / cleaningfor a period of 60 days

Health Insurance

Group Health InsuranceYour greatest wealth is your health & everybody has differing levels of control over their own wellbeing. Life follows no fixed

pattern and sudden illness or bodily injury can sometimes leave you financially hurt and highly stressed. SBI General's

Group Health Insurance Policy helps you to be in control by protecting and making medical treatment expenses more

manageable thus ensuring quality health care for you and your family.

Key FeaturesThis policy covers the following benefits:

Room, Board & Nursing Charges 1% of sum insured max Rs.1500/- per day for Normal Room & of sum insured max

Rs.2500/- per day for ICU. Medical Practitioner and Specialists Fees.

Anaesthesia, Blood, Oxygen, Operation Theatre charges, Surgical Appliances, Medicines & Drugs, DiagnosticMaterials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, prosthesis/internal implants and any

medical expenses incurred which is integral part of the operation.

Pre-hospitalisation Expenses - Insurer shall pay for expenses incurred 30 days prior to the date of admission into thehospital.

Post-hospitalisation Expenses - Insurer shall pay for expenses incurred 60 days after the date of discharge from thehospital.

Day Care Expenses - Insurer shall pay for Day Care expenses incurred on advanced technological surgeries andprocedures requiring less than 24 hours of hospitalisation as per the attached list and subject to the condition that

prior approval is obtained by the Insured Person/Insured from the Administrator/Insurer for such a Day Care

Procedure/Expense.

Domiciliary Hospitalisation- Insurer will cover Reasonable and Customary Expenses towards Domiciliary

Hospitalisation as defined in definition subject to 20% of the Basic Sum Insured or a maximum of up to Rs.20000,whichever is lesser.

Additional Coverages

We will pay charges associated with the following additional covers subject to additional premium paid by Insured to us and

conditions as applicable:

Ambulance charges, Maternity Cover with Nine months waiting period and without 9 months waiting period.


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Infant Covered from day one, Family Floater Cover.

Pre-existing Disease coverage from Day One.

Waiver for waiting period for first 30 Days & and specific diseases for First year.

Coverage for Ayurvedic, Homeopthic and Unani medicine.

The above are some of the add on covers and for the full covers available please contact our nearest office.

Premium&

EligibilityExclusions

Premium:

The rate of premium shall depend upon the Age, Gender, Sum Insured and Location.

Age & Sum Insured Eligibility:

Minimum Entry Age: 3 months old.

Minimum Sum Insured: Rs.50,000/-

Maximum Sum Insured: Rs. 750,000/-

Exclusions

The Company will not be liable under the Policy in respect of payment towards treatment taken due to:

Any condition, ailment or injury or related condition(s) for which you have been diagnosed, received medicaltreatment, had signs and / or symptoms, prior to inception of your first policy, until 48 consecutive months have

elapsed, after the date of inception of the first policy with us.

Any disease/ailment contracted during the first 30 days of commencement of the policy and charges for admission,discharge, administration, registration, documentation and filing, service expenses/surcharges.

Non-allopathic treatment, Treatment arising from or traceable to pregnancy childbirth, miscarriage, abortion orcomplications of any of this, including caesarian section. However, this exclusion will not apply to abdominal operation

for extra uterine pregnancy (Ectopic Pregnancy), which is proved by submission of Ultra Sonographic Report and

certification by Gynaecologist that it is life threatening.

Congenital diseases, All expenses related to AIDS and related diseases. Ailments / Complications arising out ofuse/abuse of intoxicating drugs or alcohol.

For more details & full list of exclusions, please refer to the policy document.

Motor Insurance

Tractor and Other Farm Vehicles InsuranceIndia is an agriculture based country. Agriculture and farming are the main occupations of the majority of the population of

our country outside big cities. At SBI General, we recognise the pivotal role farmers like you are playing in contributing to the

growth and development of the country. Unfortunately you are also exposed to the vagaries of the nature that can potentially

cripple you sometimes due to accidental damage to your Tractor or other farming vehicles.

With SBI General's Tractor and Other Farm Vehicles Insurance Policy- Package, you can safeguard your Tractor and other

Farming Vehicles as well as your dream.


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Key Features

This policy provides protection to your all important farming companions such as tractors harvesters, reapers,threshers, chaff cutters, salvage corps vehicle, Lawn movers etc, in addition to the personal accident cover to you and

your other family members who may use the vehicle.

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together with loss or

damage to the Vehicle itself.The Policy also provides cover for:

Personal Accident for Paid Driver/cleaner.

For an additional Premium, provides the following:

Additional Legal Liabilities towards Paid Driver and employee.

Bi-fuel Kit.

Enhanced PA cover to Owner Driver and Paid Driver.

No Claim Bonus Protection.

Return to Invoice.

Scope

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together withloss or damage to the Vehicle itself.

Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arisingon bodily injury to / on death of a person and any damage caused to third party property.

Loss or damage to the vehicle:

The policy covers against any loss or damage caused to the vehicle or its accessories due to the following:

Fire, explosion, self-ignition, accidental damage by external means.

Any damage in transit by road, rail, inland waterway, lift, elevator or air.

Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide,rockslide.

Burglary, theft, riot, strike, malicious act & terrorist activity.

Personal accident cover:

The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners (available onlyif the owner of the vehicle holds a valid driving license) of the vehicle while driving. This is not applicable for a

Company owned vehicle. Occupants of vehicles can also be covered for Personal Accident for a maximum Capital

Sum Insured of Rs 2 lakh per person. You may also now opt for higher limits in Personal Accident cover.

Additional Legal liabilities :

The following additional legal liabilities may also be opted for at an additional premium.

Paid driver/Cleaner employed in operation of vehicle.

Employees travelling in/driving the vehicle other than paid driver.

Bonus

No Claim Bonus(NCB) Protection Cover.


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On payment of additional premium, SBI General will maintain the No Claim Bonus (NCB) subject to the following:

a) The vehicle is renewed with us.

b) There was only one single such claim lodged in the entire Policy period.

c) The insured vehicle is repaired in a Company authorised Garage.

d) The rate of the NCB allowed at the time of renewal will be same that the insured was enjoying prior to the loss.

Return to Invoice Cover: On payment of the additional premium, SBI General will pay the financial shortfall, if any, between the amount Insured

receives under section I of the Policy and the Purchase price of the vehicle as confirmed in the Invoice of Sale or

current replacement price of new vehicle, whichever is less, in the event, the insured vehicle is a Total Loss/CTL

following an accident or stolen during the period of insurance and not recovered. SBI General will also reimburse the

first time registration charges and road tax which the Insured had incurred on the insured vehicle. Provided that,

insured vehicle is not more than 2 years old from date of invoice/date of registration whichever is earlier on the

commencement date of the Policy.

Exclusions

No Claim Bonus(NCB) Protection Cover.

On payment of additional premium, SBI General will maintain the No Claim Bonus (NCB) subject to the following:

a) The vehicle is renewed with us.

b) There was only one single such claim lodged in the entire Policy period.

c) The insured vehicle is repaired in a Company authorised Garage. d) The rate of the NCB allowed at the time of renewal will be same that the insured was enjoying prior to the loss.

Return to Invoice Cover:

On payment of the additional premium, SBI General will pay the financial shortfall, if any, between the amount Insuredreceives under section I of the Policy and the Purchase price of the vehicle as confirmed in the Invoice of Sale or

current replacement price of new vehicle, whichever is less, in the event, the insured vehicle is a Total Loss/CTL

following an accident or stolen during the period of insurance and not recovered. SBI General will also reimburse the

first time registration charges and road tax which the Insured had incurred on the insured vehicle. Provided that,

insured vehicle is not more than 2 years old from date of invoice/date of registration whichever is earlier on the

commencement date of the Policy.

Commercial Motor Insurance

Life is one great balancing act. As you set to get the best out of life, you do encounter life's little road blocks likeaccidents & thefts. The best way to handle them is to just move ahead and enjoy the journey rather than get

bogged down. With SBI General's Commercial Vehicle Insurance Policy, you be in control no matter what the little

road blocks that life throws at you.

For Motor Third Party InsuranceClick here
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Key Features

Sum insured limits applicable to property types

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together withloss or damage to the Vehicle itself. The Policy also provides cover for:

Personal Accident for Paid Driver/cleaner/conductor

For an additional Premium, provides the following:.

Additional Legal Liabilities towards Paid Driver and employee

Bi-fuel Kit

Enhanced PA cover to Owner Driver and Paid Driver

Scope

This Policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, together withloss or damage to the Vehicle itself.

Third party liability: Protects against any legal liability arising out of the use of the vehicle, towards third parties arisingon bodily injury to / on death of a person and any damage caused to third party property.

Loss or damage to the vehicle:

The policy covers against any loss or damage caused to the vehicle or its accessories due to the following:

Fire, explosion, self-ignition, accidental damage by external means

Any damage in transit by road, rail, inland waterway, lift, elevator or air.

Lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide,rockslide.

Burglary, theft, riot, strike, malicious act & terrorist activity

Personal accident cover:

The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners (available onlyif the owner of the vehicle holds a valid driving license) of the vehicle while driving. This is not applicable for a

Company owned vehicle. Paid driver, cleaner and conductor employed in operation of vehicles can also be covered

for Personal Accident for a maximum Capital Sum Insured of Rs 2 lakh per person. You may also now opt for higher

limits in Personal Accident cover.

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 travelling in/driving the vehicle other than paid driver.

Non-fare paying passengers

Bonus


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No Claim Bonus

If you do not make a claim during the Policy period, a No Claim Bonus (NCB) is offered on renewals. This discountcan 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 from another company.

Exclusions

Any loss/damage to the vehicle and/or its accessories will not be covered if caused by the following-

Normal wear, tear and general ageing of the vehicle.

Depreciation or any consequential loss

Mechanical/ electrical breakdown

Damage caused by overloading or strain

Loss of or damage to accessories by burglary. Housebreaking or theft unless such insured vehicle is stolen at thesame time

Vehicle being used otherwise than in accordance with limitations as to use

Damage to / by a person driving the vehicle without a valid license

Damage to / by a person driving the vehicle under the influence of drugs or liquor Loss / damage due to war, mutiny or nuclear risk

Marine Insurance Marine Cargo Insurance We are living in a world of Boundryless Business. As you continue to expand the business horizon, you are also

increasingly exposed to the risks that are associated with transit of goods. Your biggest challenge is to put in

place a suitable Risk Management, so that you can confidently move ahead fulfilling your dream of expanding

your business horizon. SBI General Insurance can help you to successfully overcome these situations and put you firmly in control. With

SBI General's Marine Cargo Insurance Policy you can safeguard yourself from risks associated with transit of

goods.

Key Feature

The policy provides wide coverage for loss or damage caused to the cargo whilst in transit between any two pointseither by Sea / Air / Rail / Road / Courier

Coverage The Policy covers any accidental loss or damage to the cargo described in the Policy schedule whilst in transit by

perils named in institute clauses

Type of Coverage under marine cargo insurance is determined by the mode of transport and requirements ofcustomers as given below:

Transit by Sea / Inland Waterways / Coastal Waters.

Coverage provided under this type will be as per institute clauses which are uniformly used in internationalmarkets.Three types of coverage are offered for such transit:


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All Risk Institute Cargo Clause A (Cargo)

Basic Cover Institute Cargo Clause B (Cargo)

Fire and Lightning Institute Cargo Clause C (Cargo)

Transit by Air - Coverage provided for transit of goods by air is on All Risk basis as per Institute Cargo Clause (Air).

Transit by Rail / Road - Coverage provided for inland transit of goods is classified in to three categories:

All Risk - Inland Transit (Rail / Road) Clause A

Basic Cover - Inland Transit (Rail / Road) Clause B

Fire and Lightning - Inland Transit (Rail / Road) Clause C

Transit by Registered Post / Courier - Coverage for transit of goods by Registered Post / Courier etc will not beprovided on standalone basis. Such coverage shall be granted in conjunction with transit by Sea / Rail / Road / Air.

Exclusions

We would like you to be familiarised with some of the major exclusions under the Policy. This will ensure you are not put toany kind of inconvenience while making your claim. At SBI General, we endeavour to make our Policy as transparent as

possible. This Policy does not cover the following:

Loss, damage, expense attributable to wilful misconduct of insured.

Ordinary (inevitable) Losses

Loss, damage, expense caused by inherent vice Loss, damage, expense caused by insufficient, unsuitable or defective packing or preparation of goods. 'Packing'

includes stowage in container or lift van but only when such stowage is done prior to attachment of insurance or by

the insured or their servants

Loss, damage, expense proximately caused by delay, even if delay be caused by a risk insured against

Loss, damage, expense arising from insolvency or financial default of owners, managers, charterers or operators ofthe vessel.

aNuclear Weapons Risk

War Risk Exclusion

Loss, damage, expense caused by or resulting from strikes, lockouts, labour disturbances, riots, civil commotions orcaused by any person

Loss, Damage, Expense arising from -

-Un Seaworthiness of vessel or craft

-Unfitness of vessel, Craft, Conveyance, Container, and Lift

-Van for Safe Carriage of interest insured.

-Where the assured or their servants are privy at the time of Loading.

Contractors All Risk InsuranceEvery Project under development need complete protection against potential loss. Projects under development are exposed

to host of risks which can put a break in operation, cause financial burden and leave you feeling you have no control. SBI

General Insurance can help you to successfully overcome these situations and put you firmly in control of your businessoperation.

With SBI General's Contractors All Risks (CAR) Insurance Policy, you can safeguard your projects that you value most

Key Benefits

This Policy offers comprehensive insurance cover for civil engineering projects where the value of civil works is morethan 50% of the total contract value


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The cover operates during storage, erection/construction till completion and the handing over of the works to theprincipal

Coverage

There are two Sections in the Policy.

Section I - It provides coverage for the property lost, damaged or destroyed by any cause, other than thosespecifically excluded in the Policy, necessitating replacement or repair. The Policy will pay or make good all such loss

or damage up to an amount not exceeding the sum specified in respect of each of the items and not exceeding in the

whole the Total Sum Insured.

Section II - provides coverage towards: a)legal liability for accidental loss or damage caused to property of otherpersons b) legal liability for fatal or non-fatal injury to any persons other than the Insured's own employees or

workmen or employees of the owner of the works or premises due to construction of any property.

The Policy also provides for payment of - a) All cost and or expenses of litigation recovered by any claimant from theInsured. b) All cost or expenses incurred by Insured with the written consent of the company.

Add on coverage

On payment of additional premium, the following coverages may be selected

Provision for escalation

Clearance And Removal Of Debris

Additional Rate For Express Freight (Air Freight Excluded) Holiday And Overtime Rates Of the Wages

Additional Rate For Air Freight Only

Additional Custom Duty

Construction Machinery Plants And Equipments

Loss Due To Breakage Of Glass

Storage Rate At Fabricators Premises/Workshop

Maintenance Visits and Extended Maintenance Cover

Exclusions

The company will not be liable under the policy in respect of loss or damage due to:

excess as stated in the Policy Schedule

loss discovered only at the time of taking an inventory. normal wear and tear, gradual deterioration due to atmospheric conditions .

loss or damage due to faulty design, workmanship\

the cost of replacement, repair or rectification of defective material and/or

the cost necessary for rectification or correction of any error during construction

loss of or damage to files, drawings, accounts, bills, currency, stamps, deeds, notes, securities, cheques etc.

any damage or penalties on account of the Insured's non-fulfillment of the terms of delivery or completion under hisContract of construction or of any obligations assumed there under or lack of performance

loss or damage to vehicles licensed for general road use or water borne vessels etc


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liability consequent upon -1.bodily injury to or illness of employees or workmen of the Contractor(s) or the Principal(s)or any other firm connected with the project 2.Loss of or damage to property belonging to or held in care custody or

control of the Contractor(s), the Principal(s) or any other firm connected with the project 3.any accident caused by

vehicles licensed for general road use or by waterborne vessels or aircraft; 4.Any agreement by the Insured to pay

any sum by way of indemnity

Boiler & Pressure Plant Insurance Large Industrial establishments like yours are the lifeline for our economy. They contribute enormously to the

growth and prosperity of our nation. It is critical to protect these lifelines as they fuel the dream of our nation. With

SBI General's Boiler & Pressure Plant Insurance Policy, you can safe guard your dream as well as that of our

nation. At SBI General we believe being with our customers at every step and help them be in control.

Sum Insured Calculation - The Boiler and/or Pressure Plant is to be covered for their current day newreplacement value in order to avoid under-insurance.

Key Benefits

Protects the Boilers and other Pressure Plants against the risk of any damage to it

Protects the surrounding property

Covers against the accidental death or injury Specific expenses incurred due to loss or damage to the insured items.

Scope

The Policy covers the insured Boiler and other Pressure Plants against the following risks:

Damage to the Boiler and/or Pressure Plant described in the Policy Schedule due to accident (other than by fire)

Damage to surrounding property of the Insured described in the schedule or property held in trust or on commissionfor which the Insured is responsible due to accident to the insured property (other than by fire)

Liability towards death of or bodily injury to any person or damage to property not belonging to the Insured in theevent of explosion or collapse of the Insured Boiler/Pressure Plant.

Further, on payment of additional premium, the following coverages can be extended to cover expenses relating to:

Express Freight, Holiday and Overtime Rates of Wages Air Freight

Owner's Surrounding Property

Additional Custom Duty

Warranties

The cover under the Policy is subject to the following warranties:

The Boilers and Pressure Plants are to be annually inspected by Inspectors appointed by the appropriate

Government. The Boilers and Pressure Plants shall only be operated by Attendants holding a valid certificate of competency issued

under the appropriate Boiler Act;

The Insured shall be in possession of the unqualified permission in writing of the competent Inspecting Authority tooperate the said Boilers and Pressure Plants. If the maximum pressure or load upon safety valve immediately prior to

any explosion or collapse was in excess of that stipulated by the said Authority the Insured shall not be entitled to any

compensation or indemnity.

Exclusions


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The Company will not be liable under the Policy in respect of loss or damage due to

Fire and allied perils.

War, war like operations and nuclear perils

Experiments on the insured items that would have imposed abnormal conditions to their working

Gradually developing flaws, defects, cracks, partial fractures

Defects due to the wearing away or the wasting of the materials of a Boiler or a Pressure Plant whether by leakage,corrosion or by the action of the fuel, failures of joint within the range of steam or feed pipes, or for bulging and

deformation due to overheating of tubes (unless such defects, fracture, failure or bulging result in explosion or

collapse) or for the cracking of section of cast-iron heating boilers or other vessels constructed of cast iron

The failure of individual tubes in Boilers of the water tube locomotive or other multitubular types, in Super heaters or inEconomizers

Application of steam hydraulic or any other test of this plant as specified by Inspecting Authority or otherwise

Willful Act, Willful Damage or Gross Negligence on the part of the Insured

Liability assumed by the Insured on agreement

Faults/defects existing at the time of commencement of this Insurance

Loss of use of the Insured's plant or property or any other consequential loss incurred by the Insured

Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or undercontracts.

MiscellaneousPlate Glass Insurance

Modern business premises like yours are the pride of place for you as well as your employees. You have built it with lot of

care and passion using some of the best materials including glass. It is critical to protect them as they are the dream

workplace. With SBI General's Plate Glass Insurance Policy, you can safe guard your dream business premises.

At SBI General, we believe being with our customers at every step and help them be in control by so that they can take on

the business challenges with confidence.

Key Features

The Policy covers accidental breakage of Plate Glass

The policy is for the benefit of business establishments, showrooms, shopping complexes, star hotels, theatres,stadia, residences etc.

Scope

This Policy indemnifies the Insured in respect of:.

any Accidental loss of or damage caused to Plate Glass at the Insured Premises occurring during the Policy Period,and.

the cost of erecting any temporary boarding necessitated by such loss or damage to Plate Glass.

Provided always that the liability of the Company shall in no case exceed the sum insured stated against each item ortotal sum insured stated in the Schedule.

Additional Benefit (In-built cover): Following additional coverage's are automatically provided by this policy without anyextra premium upto a specified limit:

Replacing lettering, sign-writing or ornamentation affixed to the broken Plate Glass.

Replacing burglar alarm tape or wiring affixed to the broken Plate Glass.

Replacing shatter resistant or reflective film affixed to the broken Plate Glass.


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Replacing damaged window frames, but with due allowance for wear and tear.

Coverage Details

On payment of additional premium, the following coverage's can be opted for

Riot, strike & Malicious Damage

Exclusions

This Policy does not cover the following:

War, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, riot, strike, commotion,unrest, rebellion, revolution, damage by or under the order of any government or public local authority.

Cracked, scratched, or imperfect Plate Glass.

Any loss or damage caused wilfully or knowingly by the Insured, or any loss or damage in which the Insured or anyperson acting on his behalf is involved or implicated.

Any Plate Glass other than Plate Glass of plain and ordinary glazing quality, unless specifically stated otherwise in the

Schedule. Any consequential damage or losses, whether of a financial or property nature or by reason of personal injury, and

any legal liability of the Insured.

During the course of any alteration, removal or repair to the Plate Glass.

Breakage of glass that is not completely and securely fixed

Damage cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection withany act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the

loss

Package Insurance

Industrial All Risks Insurance.Every successful business needs complete protection against potential loss. Industrial units are exposed to host of risks

which can put a break in operation, cause financial burden and leave you hopelessly out of control. SBI General Insurance

can help you successfully overcome these situations and put you firmly in control of your business operation and dream.

With product like SBI General Industrial All Risks (IAR) Insurance Policy, you can safeguard your assets that you value

most.

SBI General Industrial All Risks (IAR) Insurance Policy is targeted at corporate across Industries (large and mid size)..

Coverage.

Sum insured limits applicable to property types

The coverage is on all risk basis subject to specific exclusions

There are two Sections in the Policy : Section I - Material Damage and Section II - Business Interruption

Features

All risks cover - broad coverage to the customer

Two-part (sectionalised) policy, removing the need for separate policies to be taken by the customer


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Basis of valuation (other than stock ) is on Reinstatement Value basis

Add On Coverage Agreed Bank Clause

Architects, Surveyors and consulting engineers fees clause

Designation of Property Clause

Escalation Clause

Omission to insure additions, alterations & extensions clause

Temporary removal of stocks clause

Exclusions The Company will not be liable under the Policy in respect of loss or damage due to

a - i) faulty or defective design materials or workmanship inherent vice latent defect gradual deterioration deformationor distortion or wear and tear

a - ii) interruption of the water supply gas electricity or fuel systems or failure of the effluent disposal systems to andfrom the premises

unless Damage by a cause not excluded in the Policy ensues and then the Company shall be liable only for suchensuing Damage.

b - i) collapse or cracking of buildings

b - ii) corrosion rust extremes or changes in temperature dampness dryness wet or dry rot fungus shrinkageevaporation loss of weight pollution contamination change in colour flavour texture or finish action of light vermin

insects marring or scratching

unless such loss is caused directly by damage to the property insured or to premises containing such property by acause not excluded in the Policy.

c) Property damaged as a result of its undergoing any process

d) Property undergoing testing installation including materials and supplies thereof if directly attributable to theoperations of work being performed thereon unless Damage by a cause not otherwise excluded ensues and then the

Company will be liable only for such ensuing loss

e) Vehicles licensed for road use (including accessories thereon) caravans trailers railway locomotives or rolling stockwatercraft aircraft spacecraft or the like

f) Property in transit other than within the premises specified in the Schedule

g) Property or structures in course of demolition construction or erection and materials or supplies in connectiontherewith

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