It is a system by which the losses suffered by a few are spread over many,
exposed to similar risks. Insurance is a protection against financial loss
arising on the happening of an unexpected event.
It is a hedge against the occurrence of unforeseen incidents. Insurance
products help you in not only mitigating risks but also helps you by providing
a financial cushion against adverse financial burdens suffered.
Accidents... illness... fire... financial securities are the things you'd like
to worry about any time. General Insurance provides you the much-needed
protection against such unforeseen events. Unlike Life Insurance, General
Insurance is not meant to offer returns but is a protection against
contingencies. Under certain Acts of Parliament, some types of insurance like
Motor Insurance and Public Liability Insurance have been made compulsory.