When reviewing your current homeowners insurance policy or looking to purchase one; you should make sure your policy includes replacement cost coverage on your personal property and not depreciated replacement cost coverage.   

A policy with replacement cost coverage provides payment based on the cost to repair or replace your personal property at the time of loss. 

Example:  Let’s say you had a house fire that destroyed some of your personal property, including a dining set you paid $1500 for 7 years ago.  If the same set or similar one would now cost $2500, a policy with replacement cost coverage would pay $2500 to replace your dining set if it’s actually replaced (deductible will be applied to total loss).

A policy with depreciated replacement cost coverage provides payment based on the depreciated value of your personal property at the time of loss.

Example:  Using the example above; the dining set would cost $2500 to replace today but your insurance company determines the depreciated value is actually $1000.  A policy with depreciated replacement cost coverage would pay $1000 to replace your dining set if it’s actually replaced (deductible applied to total loss).  You would be responsible for the additional cost ($1500) if you wanted to replace your dining set with the same one or one similar.

A policy with replacement cost coverage provides better protection for your personal property.  For additional information on homeowner’s insurance, please contact me at Tarrell@SCVInsuranceGuy.com.

When reviewing your current homeowners insurance policy or looking to purchase one; you should make sure your policy includes replacement cost coverage on your personal property and not depreciated replacement cost coverage.   

A policy with replacement cost coverage provides payment based on the cost to repair or replace your personal property at the time of loss. 

Example:  Let’s say you had a house fire that destroyed some of your personal property, including a dining set you paid $1500 for 7 years ago.  If the same set or similar one would now cost $2500, a policy with replacement cost coverage would pay $2500 to replace your dining set if it’s actually replaced (deductible will be applied to total loss).

A policy with depreciated replacement cost coverage provides payment based on the depreciated value of your personal property at the time of loss.

Example:  Using the example above; the dining set would cost $2500 to replace today but your insurance company determines the depreciated value is actually $1000.  A policy with depreciated replacement cost coverage would pay $1000 to replace your dining set if it’s actually replaced (deductible applied to total loss).  You would be responsible for the additional cost ($1500) if you wanted to replace your dining set with the same one or one similar.

A policy with replacement cost coverage provides better protection for your personal property.  For additional information on homeowner’s insurance, please contact me at Tarrell@SCVInsuranceGuy.com.

When reviewing your current homeowners insurance policy or looking to purchase one; you should make sure your policy includes replacement cost coverage on your personal property and not depreciated replacement cost coverage.   

A policy with replacement cost coverage provides payment based on the cost to repair or replace your personal property at the time of loss. 

Example:  Let’s say you had a house fire that destroyed some of your personal property, including a dining set you paid $1500 for 7 years ago.  If the same set or similar one would now cost $2500, a policy with replacement cost coverage would pay $2500 to replace your dining set if it’s actually replaced (deductible will be applied to total loss).

A policy with depreciated replacement cost coverage provides payment based on the depreciated value of your personal property at the time of loss.

Example:  Using the example above; the dining set would cost $2500 to replace today but your insurance company determines the depreciated value is actually $1000.  A policy with depreciated replacement cost coverage would pay $1000 to replace your dining set if it’s actually replaced (deductible applied to total loss).  You would be responsible for the additional cost ($1500) if you wanted to replace your dining set with the same one or one similar.

A policy with replacement cost coverage provides better protection for your personal property.  For additional information on homeowner’s insurance, please contact me at Tarrell@SCVInsuranceGuy.com.

Whether you are renting an apartment or house, it’s a good idea to have a renter’s insurance policy to protect your personal property.  Your landlord’s policy will generally cover the house or apartment you are renting but there’s NO PROTECTION for your personal property.   Depending on your coverage limits, a renter’s policy is very affordable and would normally cost less than a large pizza with the works each month.

In addition to protection for your personal property; most policies include liability, medical, and loss of use coverage (in the event you cannot live in your home due to a covered loss).  There’s usually coverage limits on certain types of personal property (home computer, jewelry, collectibles, etc.).  A typical renter’s policy would also provide coverage for your personal property when it’s away from your home.  Renter’s insurance policies vary slightly from company to company, so you should compare policies to make sure you get the policy that best fit your needs. 

For additional information on a renter’s insurance policy, please visit www.SCVInsuranceGuy.com today.

Whether you are renting an apartment or house, it’s a good idea to have a renter’s insurance policy to protect your personal property.  Your landlord’s policy will generally cover the house or apartment you are renting but there’s NO PROTECTION for your personal property.   Depending on your coverage limits, a renter’s policy is very affordable and would normally cost less than a large pizza with the works each month.

In addition to protection for your personal property; most policies include liability, medical, and loss of use coverage (in the event you cannot live in your home due to a covered loss).  There’s usually coverage limits on certain types of personal property (home computer, jewelry, collectibles, etc.).  A typical renter’s policy would also provide coverage for your personal property when it’s away from your home.  Renter’s insurance policies vary slightly from company to company, so you should compare policies to make sure you get the policy that best fit your needs. 

For additional information on a renter’s insurance policy, please visit www.SCVInsuranceGuy.com today.

Whether you are renting an apartment or house, it’s a good idea to have a renter’s insurance policy to protect your personal property.  Your landlord’s policy will generally cover the house or apartment you are renting but there’s NO PROTECTION for your personal property.   Depending on your coverage limits, a renter’s policy is very affordable and would normally cost less than a large pizza with the works each month.

In addition to protection for your personal property; most policies include liability, medical, and loss of use coverage (in the event you cannot live in your home due to a covered loss).  There’s usually coverage limits on certain types of personal property (home computer, jewelry, collectibles, etc.).  A typical renter’s policy would also provide coverage for your personal property when it’s away from your home.  Renter’s insurance policies vary slightly from company to company, so you should compare policies to make sure you get the policy that best fit your needs. 

For additional information on a renter’s insurance policy, please visit www.SCVInsuranceGuy.com today.

Earthquake damage is typically not covered under the Condominium Association’s master policy.  Some but not all Condominium Associations purchase a separate master earthquake policy to cover damage caused by an earthquake.  If a master earthquake policy is in force, it typically does not cover earthquake damage to your personal property or interior fixtures such as attached cabinets, built-in appliances, and wall/floor coverings.   

Before purchasing an individual earthquake policy for your condominium, you should first confirm whether your association has purchased a master earthquake policy and which items you are responsible to repair.  The master earthquake policy will usually pay to repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are your responsibility.  Typically “Paint Ready” means there’s no coverage for wall/floor coverings, attached cabinets, and built-in appliances.  If what is your responsibility to repair is not covered in the CC&Rs you should verify this with your Condominium Association.   

The majority of earthquake policies purchased in California are purchased through the California Earthquake Authority; from an agent for a participating insurance company.  The policy provides up to $25,000 for building property coverage.  In addition, if any building code upgrades are required, the CEA policy provides an additional $10,000 in coverage.  To protect your personal property, you can purchase a base limit of $5,000 or up to $100,000 in coverage.  If you are unable to live in your home due to earthquake damage; your policy would pay for additional living expenses up to the coverage limit.  The CEA policy also provides Loss Assessment coverage to cover an assessment levied against members of the association to pay for exterior or structural repairs.      

 For more information on earthquake insurance for Condominium Unit Owners, please visit www.SCVInsuranceGuy.com or call 661-255-2660.

Earthquake damage is typically not covered under the Condominium Association’s master policy.  Some but not all Condominium Associations purchase a separate master earthquake policy to cover damage caused by an earthquake.  If a master earthquake policy is in force, it typically does not cover earthquake damage to your personal property or interior fixtures such as attached cabinets, built-in appliances, and wall/floor coverings.   

Before purchasing an individual earthquake policy for your condominium, you should first confirm whether your association has purchased a master earthquake policy and which items you are responsible to repair.  The master earthquake policy will usually pay to repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are your responsibility.  Typically “Paint Ready” means there’s no coverage for wall/floor coverings, attached cabinets, and built-in appliances.  If what is your responsibility to repair is not covered in the CC&Rs you should verify this with your Condominium Association.   

The majority of earthquake policies purchased in California are purchased through the California Earthquake Authority; from an agent for a participating insurance company.  The policy provides up to $25,000 for building property coverage.  In addition, if any building code upgrades are required, the CEA policy provides an additional $10,000 in coverage.  To protect your personal property, you can purchase a base limit of $5,000 or up to $100,000 in coverage.  If you are unable to live in your home due to earthquake damage; your policy would pay for additional living expenses up to the coverage limit.  The CEA policy also provides Loss Assessment coverage to cover an assessment levied against members of the association to pay for exterior or structural repairs.      

 For more information on earthquake insurance for Condominium Unit Owners, please visit www.SCVInsuranceGuy.com or call 661-255-2660.

Earthquake damage is typically not covered under the Condominium Association’s master policy.  Some but not all Condominium Associations purchase a separate master earthquake policy to cover damage caused by an earthquake.  If a master earthquake policy is in force, it typically does not cover earthquake damage to your personal property or interior fixtures such as attached cabinets, built-in appliances, and wall/floor coverings.   

Before purchasing an individual earthquake policy for your condominium, you should first confirm whether your association has purchased a master earthquake policy and which items you are responsible to repair.  The master earthquake policy will usually pay to repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are your responsibility.  Typically “Paint Ready” means there’s no coverage for wall/floor coverings, attached cabinets, and built-in appliances.  If what is your responsibility to repair is not covered in the CC&Rs you should verify this with your Condominium Association.   

The majority of earthquake policies purchased in California are purchased through the California Earthquake Authority; from an agent for a participating insurance company.  The policy provides up to $25,000 for building property coverage.  In addition, if any building code upgrades are required, the CEA policy provides an additional $10,000 in coverage.  To protect your personal property, you can purchase a base limit of $5,000 or up to $100,000 in coverage.  If you are unable to live in your home due to earthquake damage; your policy would pay for additional living expenses up to the coverage limit.  The CEA policy also provides Loss Assessment coverage to cover an assessment levied against members of the association to pay for exterior or structural repairs.      

 For more information on earthquake insurance for Condominium Unit Owners, please visit www.SCVInsuranceGuy.com or call 661-255-2660.

Your Condominium Association may have a policy in force that covers the building structure but the interior of your unit and your personal property is usually not covered.  Some associations may have what is called a blanket policy; which may provide limited coverage for repairing the interior of your unit.   However, most associations typically have a policy that will only repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are the responsibility of the condo unit owner.  Typically “Paint Ready” means there’s no coverage for wall & floor coverings, fixtures, cabinets, etc.  You should read your CC&Rs or check with your Condominium Association to find out what type of insurance policy they have in force. 

No matter what type of policy your association has in force, you should still have an individual Condominium Unit Owners policy in force for several reasons.  First the interior repairs are typically not covered under your association’s policy.  Your personal contents in your unit are also not covered under the association’s policy.  If your unit is damaged due to a covered loss and you have to relocate, most policies usually have some coverage for loss of use.  Your policy should also contain Loss Assessment coverage; which pays your portion of a loss assessment levied by your Condominium Association in the event of a covered loss.  Finally, a Condo Unit Owner policy also provides Medical Payments (up to the policy limits) to others who are on your property with your permission and injured accidentally.  Condominium Unit Owner policies vary by insurance company, so you should compare the differences before buying yours.  My next entry will talk about Condominium Unit Owner Earthquake insurance since we do live in Earthquake Country. 

If you have any questions:  Please contact Tarrell Florent at Tarrell@SCVInsuranceGuy.com.

Your Condominium Association may have a policy in force that covers the building structure but the interior of your unit and your personal property is usually not covered.  Some associations may have what is called a blanket policy; which may provide limited coverage for repairing the interior of your unit.   However, most associations typically have a policy that will only repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are the responsibility of the condo unit owner.  Typically “Paint Ready” means there’s no coverage for wall & floor coverings, fixtures, cabinets, etc.  You should read your CC&Rs or check with your Condominium Association to find out what type of insurance policy they have in force. 

No matter what type of policy your association has in force, you should still have an individual Condominium Unit Owners policy in force for several reasons.  First the interior repairs are typically not covered under your association’s policy.  Your personal contents in your unit are also not covered under the association’s policy.  If your unit is damaged due to a covered loss and you have to relocate, most policies usually have some coverage for loss of use.  Your policy should also contain Loss Assessment coverage; which pays your portion of a loss assessment levied by your Condominium Association in the event of a covered loss.  Finally, a Condo Unit Owner policy also provides Medical Payments (up to the policy limits) to others who are on your property with your permission and injured accidentally.  Condominium Unit Owner policies vary by insurance company, so you should compare the differences before buying yours.  My next entry will talk about Condominium Unit Owner Earthquake insurance since we do live in Earthquake Country. 

If you have any questions:  Please contact Tarrell Florent at Tarrell@SCVInsuranceGuy.com.

Your Condominium Association may have a policy in force that covers the building structure but the interior of your unit and your personal property is usually not covered.  Some associations may have what is called a blanket policy; which may provide limited coverage for repairing the interior of your unit.   However, most associations typically have a policy that will only repair the interior of your unit to what is called “Paint Ready” condition and the remaining repairs are the responsibility of the condo unit owner.  Typically “Paint Ready” means there’s no coverage for wall & floor coverings, fixtures, cabinets, etc.  You should read your CC&Rs or check with your Condominium Association to find out what type of insurance policy they have in force. 

No matter what type of policy your association has in force, you should still have an individual Condominium Unit Owners policy in force for several reasons.  First the interior repairs are typically not covered under your association’s policy.  Your personal contents in your unit are also not covered under the association’s policy.  If your unit is damaged due to a covered loss and you have to relocate, most policies usually have some coverage for loss of use.  Your policy should also contain Loss Assessment coverage; which pays your portion of a loss assessment levied by your Condominium Association in the event of a covered loss.  Finally, a Condo Unit Owner policy also provides Medical Payments (up to the policy limits) to others who are on your property with your permission and injured accidentally.  Condominium Unit Owner policies vary by insurance company, so you should compare the differences before buying yours.  My next entry will talk about Condominium Unit Owner Earthquake insurance since we do live in Earthquake Country. 

If you have any questions:  Please contact Tarrell Florent at Tarrell@SCVInsuranceGuy.com.

Test blog…

This policy covers loss of or damage to physical properties due to the occurrence of accidental fire and lightning. You can acquire a wide range of other perils like explosion, storm, impact / aircraft damages, flood, riots and many other perils under the Fire Tariff.

Commercial Fire

In 2008, The Department of Insurance of the State of New York released a report showing the 40 P&C insurance companies that had the most complaints. We did an article about this previously. We showed the ten worst companies, the ones that got the most complaints. But we did not feature the ones that got the least number of complaints in New York, a tough insurance market.

Here is the list of New York’s best P&C insurance companies as determined by the least number of complaints, higher number of complaints as you go down the list:

1. Long Island Insurance
2. Infinity Property & Casualty
3. Interboro Mutual
4. Tri-State Consumer Ins. Group
5. American International Group (AIG)
6. Safeco Insurance Group
7. Countrywide Insurance
8. White Mountains Group, OneBeacon, Esurance, Auto One Ins.
9. State Wide Insurance
10. Hannover RE Group, Clarendon National (no longer writing business)

You may find that some of these companies are only local or regional and that you cannot do business with them where you live. But notice that AIG, Safeco, OneBeacon and Esurance are national companies that got fewer complaints.

It’s not as easy to list a Top Ten Best P&C Insurance companies for America. We would have to contact all 50 state Departments of Insurance and find out which insurers had the least complaints. The National Association of Insurance Commissioners presently does not have any such report. In addition, complaints are not the only criteria that should be used to evaluate an insurance company.

Think about this statement, my friends.

The only thing that truly matters about your insurance is what happens when you submit a claim. It doesn’t matter how good your agent is…or if the company sends you a calendar every year…or buys you dinner. It really doesn’t matter if you pay a low premium or a higher premium. Claims handling is EVERYTHING!!

Claims are about KEEPING PROMISES.

When the insurance companies don’t keep their promises, the complaints pile up!

Lowest premiums are not the only criterion you should use, either. Shopping for insurance is confusing and complicated. Determining if your quotes are “apples and apples” comparisons takes strict attention to detail.

You may need the help of a dedicated, experienced agent to determine your insurance needs and buy the right policy. Still, my recommendation is to shop widely for your insurance needs. Get quotes from captive agents (who only write for one company) and independent agents (who write for multiple companies).

Getting quotes on the internet makes shopping for insurance very easy these days. But look for an insurance quote service that can give you competitive quotes PLUS strategies on submitting insurance claims that will help you collect thousands of dollars more in your claim settlements.

So, which insurance company should you do business with?

1. Choose a company that has an A+ or A rating from the insurance rating services like A.M. Best.
2. Get multiple insurance quotes at least every two years, then choose the company whose policies give you the most coverage for the least money. Don’t worry about company loyalty. The companies don’t care and neither should you.

If you are one of the unfortunate people who experience a loss of any kind, you’ll need to know how to handle your insurance claim so that you maximize your recovery. You will need to know how to take control of your insurance claim, and add hundreds or even thousands more dollars to your claim settlement. For more information, check out:

www.ClaimSecrets.com

For the only online insurance quote service that provides you competitive quotes and claims strategies, check out:

www.InsuranceQuoteHQ.com

You can win the insurance game if you have the right information. So go and win!

INSURANCE WORLD. WHERE THINGS CAN GET UGLY,

AND THEY HAVE! AND IT’S NOT EVEN HALLOWEEN.

Received your letter yet from the State of Florida telling you they no longer offer replacement cost on most of their policies?
Right after State Farm and Allstate pulled out their homeowners. Well isn’t that interesting but not as interesting as the insurance commissioner warning the rest of us that is if we have a good blow this season you’re rates will go up another 33 or more % hmmm gets more interesting minute by minute. Have you ever thought that the State run insure is like assigned risk?
Well it is. Why doesn’t your agent offer other homeowner companies? Here’s some possible answers. (A) They don’t know that other companies offer Homeowners in Florida (B) The major companies they write with won’t let them (C) They’re too lazy to get appointed with other companies (D) The other companies don’t pay near as high commissions as the State run program.
(E) All of them. Well if you picked any one them you’d be right but the most correct answer is I don’t hear you. Ah that’s it (E) Bravo c’est perfert.
Hi my names Steve Miller and I offer Home Owners and Mobile home Insurance with A rated companies that would love to have your business. Subscribe to my newsletter and I’ll keep you up dated to what’s going on. If you’d like fill out your info on the page and I’ll give you quote. If I can’t better your premium (Home Owners Mobile Home by at least $200. or more a year I’ll get you somebody that can. I also have super rates on Motorcycle Jet-Ski ATV, RV. Here’s my link email and phone.
727-424-1485                     fl.quote@gmail.com http://flaquote.blogspot.com/ STEVE MILER INSURANCE

CHECK OUT MY OTHER LINKS FOR ADVICE AND EXPLANANTIONS:

Visit my other Insurance Tips and Advise links before you buy your next policy.

http://bzkid.wordpress.com/2009/03/07/hmo-vs-ppo/

http://bzkid.wordpress.com/2009/04/06/yo-auto/

http://mcsplst.wordpress.com/2009/02/25/motorcycle-insurance-specialist/

http://mcsplst.wordpress.com/2009/02/28/atv-adviser/

http://bzkid.wordpress.com/2009/03/07/rv-adviser/

http://bzkid.wordpress.com/2009/03/14/pwr-spts-ins-splst/

If you have a mobile Home that is 33 years  old or less you will be hard pressed to beat my rates and coverages anywhere, in Florida not to mention I am a real person and not some statisic  gathering internet site that you put your information in and you hope and pray that you might get a phone call and then when you do you don’t have a clue where they are calling from. I AM RIGHT HERE IN CLEARWATER., the manufactured/mobile home capital of the country. What else do I offer with the Mobile Home package? I can raise your liability cover your Gulf Cart put replacement cost on your personal property, loss of use, Hurricane/Wind even Flood which is a separate policy. What if your unit doesn’t fit in the the 33 year old program? I still have a policy for you that will fit your needs. By the way I also offer Directors and Officers insurance for Mobile Home or Condo Association.

I also offer Auto Insurance for Grey Market cars and for less fortunate folks who seemed to get pulled over every time they get behind the wheel especially right after a celebration of some kind. I offer motorcycle Insurance, Jet Ski Insurance and all sorts of Commercial Insurance.

I can be reached at 727-424-1485 or you can e mail me at mcsplst@gmail.com

Does your Life Insurance policy pay in the event you have a heart attack stroke or invasive cancer and you don’t die? all at a very low monthly payment?

Protect your INCOME with 24/7 Critical Illness Accelerated Benefit Rider -Chronic Illness Accelerated Benefit Rider -Treminal Illness Accelerated Benefit Rider – with an option to increase your Life Insurance coverage, while using it as one of your retirement platforms, even if you have become insurable?

Watch my 4 minute video to see how we can be of service to you.

http://www.agla.com/lifeinternet2000/careerweb.nsf/contents/products_qualityoflife

After you’re done call me or fill out the form below make sure you Steve Miller Tampa for the agents name.

I can be reached at 727-424-1485 mcsplst@live.com or my office:

American General Life and Accident Insurance Company 10002 Princess Palm Ave # 324, Tampa, FL. 33619 813 -626-4411

HI MY NAME IS STEVE MILLER I am a fully Licensed Insurance Agent and I can help you if you have questions about your Insurance. I worked for Allstate In L.A. for ten years and consistently placed in the top three Annuity writers during the whole time.

When I had my agency in Las Vegas I placed more special risk insurance then anyone in the State.

Why? It’s simple I didn’t try to sell people I simply answered their questions honestly and if I didn’t know the answer(s) I found them. If I couldn’t place them I found someone who could. For my efforts I received countless referrals.

I offer Long Term Care, Medicare & Accident Insurance Life Insurance and one of the most competitive Annuities on the market.

I also offer Home owners with other companies besides Citizens who are more cost efficient and responsive if the client qualifies, age of house, how close to the waterfront exc: even if they’re already with Citizens in most cases I can save them several 100’s of dollars, a year, sometimes even more. Call me if you’d like a quote to see how I stack up against your present agent or would like me to visit your office for a quick presentation I’m a local agent out of Pinellas county and can be reached at 727-424-1485

or by e-mail mcsplst@gmail.com

Oh by the way I  offer auto, and other lines of insurance.

I spoke with a prospective client yesterday who revealed some valuable information I was unaware of regarding the insurance risk on older buildings. Buildings that are grandfathered in under older zoning laws, not required to come current to todays code requirements. Here is what I learned.

There is fire insurance available for older buildings which includes upgrading to current code requirements. Thus as in his case, when he experienced a fire of over 30%  of his building he was required by the city to upgrade the building to current code requirements and this extra insurance he carried for just such a risk covered the costs of this upgrade. He explained to me the newer code requirements included additional bathrooms, wiring issues, and many other costly requirements.

It cost approximately $150,000 for him to bring the building up to current requirements and if he did not have this type of insurance he would have taken a huge loss, as he would not have been able to afford the rehab of the building and he would have lost it all together.

Just a word of warning to owners of old out of code buildings. This type of insurance seems like a very good addition to a standard insurance  all risk policy. Ask your agent about the cost, it may be worth it.

Check out www.mydeniedclaim.com today. This resource center is full of information on all sorts of denied claims. From Disability, Life, Auto, Homeowners, Fire, Cancer, Dread Disease, to Work Injury Insurance, mydeniedclaim.com is your starting point for any type of denied insurance claim. We fight for you, to get what you are entitled to.

The general insurance industry reported growth of 14 per cent in July, mainly due to sales of motor insurance policies.

In July, passenger vehicle sales reported growth of 29.1 per cent and commercial vehicle sales grew at 9.6 per cent.

Consequently, sales of motor insurance policies also increased.

In the reporting month, gross written premiums (GWPs) of the public sector insurers stood at Rs 1,680 crore, which is higher by 13.5 per cent.

Private sector players’ GWPs grew 14 per cent at Rs 1,176 crore.

Meanwhile, state-owned players such as United India Insurance, New India Assurance and Oriental Insurance posted double-digit growths.

National Insurance was the only public player to have a single-digit growth.

Even as the public sector players posted a good growth,the two big private players — ICICI Lombard General Insurance and Bajaj Allianz General Insurance — registered negative growth.

However, market is picking up.

Though there is some slowdown in the travel insurance segment, but motor insurance is picking up.

Even after 8 years in operations, most of the companies seem to be sailing in choppy waters while the latest profit/loss numbers reveals that almost all of the 22 companies are still making losses.

Net losses of the private sector life insurers have risen to a whopping Rs 4850 crore during the last fiscal from 2001-2002, showing a uncanny rise of over 2000%.

However, Reliance Life has suffered the highest loss of Rs 1085 crore and its pool of the policy holders fund is a meager Rs 50 crore.

Moreover, ICICI Prudential Life is sitting on a net loss of Rs 780 crore while the cushion for policy holders is Rs 200 crore.

As for Birla Sunlife, the loss amounts to Rs 700 crore with a 130 crore surplus for the policy holders fund while HDFC Standard Life has netted losses of Rs 500 crore with a policy holders fund of 160 crore.

Additionally, IRDA is looking at the numbers very closely now and is also doing a check on the risk profile of individual companies and trying to build in a system of early warning given the fact that life insurance is a long gestation business.

Meanwhile, it is the speedy expansion in business that has cost the companies dear and the coming days will see a change in strategy.

At the same it is said that such multi million losses may hit valuations of private life insurers especially if the companies are keen to list on the stock exchanges.

Fire Insurance Every business has a specific set of requirements. Our range of business products is especially designed to meet your business needs across the commercial spectrum. It is pivotal to get adequate insurance cover for your business to mitigate risk.

Fire and Special Perils Policy (Material Damage)

Consequential Loss (Fire) Insurance Policy

Industrial All Risk