Risk management and Insurance

In every business the stake holders take the risk and provide the resources to the management for converting their dreams into reality. At the same time the insurance companies take up the coverage of risk by issuing the policy. However, the decision has to be made regarding what has to be insured, how much should be the quantum of insurance, from which company and at what premium the policy is to be taken so that the objective of the stake holders should be achieved. Still further a lot of facilitation is required at the time of loss when timely help is required in terms of claims settlement. Generally we advise on the following products namely:-



Whatever you drive, you have a lot riding on those wheels:  Your loved ones and your peace of mind. Choosing the right auto insurance can help protect you from the risks of the road.



Your home is your most valuable asset. Covering your home in the event of a fire, theft or damage can help you feel more secure. Protect your home the way it protects you by choosing smart insurance coverage.

Although few things in life matter as much to us, as our home does but it is still the most neglected asset in terms of insurance coverage. Coverage for 10 years at one go costs less than Rs. 27000/- for Rs. 1 crore of construction cost i.e. not even Rs. 2700/- per annum.



Travelling abroad to a foreign land alone entails a lot of risk. Medical emergencies, losses, and delays can be expensive and cause great inconvenience to you. International Travel Insurance provides utmost protection against unseen medical and non-medical emergencies.

Almost every General Insurance Company in India has different plans to cover Single trip, Multi trips, Senior citizens etc. Premium for different plans is calculated on the basis of age, region/ country to be visited & duration of the trip.



Health insurance policies insure you against several illnesses and guarantee you stay financially secure should you ever require treatment. There are several health insurance or medical insurance plans being offered by various Insurance companies. Individual Health Plans, Family floaters, extended health insurance, critical illness plan etc. are some of the plans being offered by the companies.

Proper understanding of various policies including exclusions, pre-existing diseases, sub limits and waiting periods etc. along with the proper disclosures at the time of taking the policy is of utmost importance.



Globalization has opened a number of opportunities for students. Of course, travelling abroad comes with its own set of risks and investing in a student insurance plan is the only solution to mitigate this risk.  Buying in India is the best option as the cost of health insurance abroad is exorbitant.

Of late, a lot of foreign universities have been demanding more than just medical insurance cover. Most of the universities insist that students take risk cover that includes treatment of mental as well as nervous disorders.

The student insurance policies offered in India are comparable to that demanded by various foreign universities. Most of the universities in the United States allow waiver of policy in the event where a student has availed the same from India. However, no waiver is offered by United Kingdom universities.



Accidents, mishaps and other adverse situations bring along dire consequences. Personal accident insurance covers not only major accident resulting in death or permanent disablement but also minor injury happening in daily life such as getting burnt while cooking or kids getting injured at school or slipping down from stairs. Some of the policies also provides benefit of Ambulance cost and hospital cash etc.

However, this is no substitute to the Life Insurance policies, since this policy covers only accidental deaths & not death due to natural cause. There are number of variants & options available with various insurance companies.



Risk is a common factor in everyday business. That’s why Achievers offers a wide range of business insurance options to help mitigate risk and protect your company. Whether you have a small, mid-sized, large or even highly specialized business, our dedicated  services can match your unique coverage and compliance needs.



These are basic fire insurance plans which indemnifies you against damage to your property caused by fire, lightning or explosion etc. You can decide to extend your insurance to cover other perils:

  • Burglary
  • Aircraft damage
  • Riot, strike, malicious damage
  • Storm, typhoon, hurricane, tornado, flood and inundation
  • Impact damage
  • Subsidence and landslide, including rockslide
  • Bursting and overflowing of water tanks, apparatus and pipes
  • Missile-testing operations
  • Leakage from automatic sprinkler installation
  • Bush fire

Following are the types of assets that are generally covered under this kind of Business Insurance Policy-

  • Industrial and/or commercial Buildings
  • Plant & Machinery
  • Office Equipment
  • Electronic Equipment
  • Fixed Assets
  • Stocks
  • Plate Glass
  • Machinery Breakdown
  • Contractor all risk



Covers loss or damage to your goods while being transported by rail, road, air or by sea. The policy compensates you for losses suffered and offers complete financial protection during the transit of your goods.

Following types of Marine Insurance Policies can be taken, depending on the requirements & needs of the industrial units.

  • Marine Insurance Sales Turnover Policy (STOP)

STOP is a designer product, an Open Policy in the real sense of the term. The premium for the policy is charged only on your sales turnover.

  • Marine Insurance Open Policy

Open policy. Certificates are issued for individual shipments/dispatches. Premium is by advance deposit and adjustable on declaration of actual values of shipments/dispatches.

  • Marine Insurance Specific Policy

The Marine Specific policy insures cargo against risks involved in a specific voyage.



Following types of liability policies are available to cover the third party liabilities.

  • Industrial Public Liability

Provides cover for third party liabilities (bodily injury / property damage) arising out of the manufacturing / industrial premises occupied by the insured and legal costs incurred in connection therewith. The policy can be extended to cover legal expenses arising out of pollution, transportation of hazardous substances, carriage of treated effluents etc.

  • Non Industrial Public Liability

Provides cover for third party liabilities (bodily injury / property damage) arising out of the Non Industrial ( Hotels, Schools, Public halls, Auditorium ,Godownsetc) premises occupied by the insured and legal costs incurred in connection therewith.

  • Product & Public Liability

This cover aims to protect you for amounts which you are liable to pay for personal injury and property damage to third parties in connection with your business / product during the defined period of insurance.

  • Workmen’s compensation

The Workmen’s Compensation Insurance Policy provides for legal liability coverage for compensation to your employees for bodily injury or death caused due to accidents / occupational diseases arising out of and in course of employment. It is compensation payable under a scheme set out in the Workmen’s Compensation Act of India, monitored by the Ministry of Labour.

  • Directors’ & Officers Liability

The policy is designed to protect against legal claims for wrongful acts of Directors or officers in the performance of their corporate duties. Wrongful acts include omissions, errors, misstatements, misleading statements, neglect or breach of duty. Beneficiaries are the Directors, Officers or the Company (the body corporate) itself.



Life insurance is a contract between an insured (policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of the insured person.


A life insurance policy provides financial protection to the family in the unfortunate event of death of the policy holder. Insurance premiums are paid to cover the risk of untimely demise during the tenure of the policy. In such an event, family (or the beneficiaries) will receive a lump sum amount. In case policy holder lives till the maturity of the policy, depending on the type of life insurance policy, policyholder will receive maturity amount & other returns that the policy may have earned over the years.


Term Insurance Policy

A term insurance policy is a pure risk cover policy that protects the person insured for a specific period of time. In such type of a life insurance policy, a fixed sum of money called the sum assured is paid to the beneficiaries (family) if the policyholder expires within the policy term.


Whole Life Policy

A whole life policy covers a policyholder against death, throughout his life term. The advantage that an individual gets when he / she opts for a whole life policy is that the validity of this life insurance policy is not defined and hence the individual enjoys the life cover throughout his or her life.


Endowment Policy

Combining risk cover with financial savings, endowment policies are among the popular life insurance policies. Policy holders benefit in two ways from a pure endowment insurance policy. In case of death during the tenure, the beneficiary gets the sum assured. If the individual survives the policy tenure, he gets back the premiums paid with other investment returns and benefits like bonuses.

In addition to the basic policy, insurers offer various benefits such as double endowment and marriage/ education endowment plans. The concept of providing the customers with better returns has been gaining importance in recent times. Hence, insurance companies have been coming out with new and better ULIP versions of endowment policies. Under such life insurance policies the customers are also provided with an option of investing their premiums into the markets, depending on their risk appetite, using various fund options provided by the insurer, these life insurance policies help the customer profit from rising markets.


Money Back Policy

This life insurance policy is favoured by many people because it gives periodic payments during the term of policy.



ULIPs are market-linked life insurance products that provide a combination of life cover and wealth creation options.


Annuities and Pension

In these types of life insurance policies, the insurer agrees to pay the insured a stipulated sum of money periodically. The purpose of an annuity is to protect against financial risks as well as provide money in the form of pension at regular intervals.