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Corporate Insurance Monday, 10 October 2011

Corporate insurance, as the name suggests, is an umbrella term that includes all types of insurance policies taken by various organizations. It is provided by most of the insurance companies. Some of the common policies taken are mentioned here:

Corporate Health Insurance
It aims at providing health coverage to all the employees of an organization. A part of the premium amount is paid by the employer and a part is deducted from the salary of the employee. Contribution to health insurance is a fixed component in the salary structure that is made known to the potential employee at the time of the interview process. The insurance is covered under the social security schemes of the organization.

Travel Insurance
It is usually taken by companies where employees have to travel often as a part of their business. For instance, market research firms, media companies, and travel operators. The insurance coverage takes care of the loss arising on account of baggage loss, loss of passport, an employee's medical expenses, and many more. It is a contract of indemnity where the insured company will only be indemnified for the actual loss.

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