What is Indemnity?

It is the financial compensation that is adequate to put an insured in the same financial position after a loss as he/she was before the accident. Insurers in order to indemnify an insured may at their option pay cash, repair, replace or reinstate damaged property.

• Related Articles

• Professional Indemnity

  Under the professional indemnity policy, the Company agrees to indemnify the assured up to but not exceeding in the aggregate limits stated in the schedule for any sum or sums which the assured may become legally liable to pay arising from any ...

• Bankers Indemnity

  This policy provides cover to the Insured against all such losses sustained or discovered by the insured during the period of insurance as follows;

• Goods In Transit

  We offer Goods-In-Transit policy which simply provides indemnity to the insured against loss or damage to the insured goods while they are being transported from one location to the other, normally within the country.

• Fidelity Guarantee

  Due to possible infidelity or fraudulent acts of some employees, Star Assurance provides the Fidelity Guarantee policy, that reimburses the Employer (insured) all such direct pecuniary loss sustained by the Employer by all acts of fraud or dishonesty ...

• Cash In Transit

  The Cash-In-Transit policy indemnifies the insured against accidental loss or damage to the insured's cash, bank and currency notes, cheques, postal orders, etc while in transit from one specified location to the other. Cash-Hold policy is effective ...