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Reliable Risk Managers

Krishna Nagar East, Delhi
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We at "RELIABLE Risk Managers" are a firm with the main objective to provide expert insurance and legal services to Medical Practitioners, Nursing Homes and Hospitals. We have a tie-up with India's premier insurance company National Insurance Co. Ltd. (A Govt. of India Undertaking).
Ours is a unique service in the country which is truly professional in nature-we are backed by thoroughly experienced and professionals like Forensic Medicine Specialists, Advocates and Insurance Advisors who are working in the field of risk management for doctors for last several years.
The firm is strongly supported and backed by experienced professionals who have been working with private medical practitioners in the country. This is the only Risk Management firm in India, with properly qualified and trained technical professionals. We have made great effort in the past in analyzing different aspects of the problems faced by doctors. We understand that doctors usually do not have time because of being busy in patient care and that they are very exacting in services required at each step of a particular alleged case of medical mishap. We at RRM take special privilege to prepare ourselves in meeting such challenges, be it any form of a medico-legal problem. The firm is backed with highly experienced professionals from different fields of service industry.
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Nature of Business

Service Provider

Office Package Policy
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Office Package Policy

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This is a kind of umbrella policy devised to cater to the specific requirements for “offices/ establishments” containing different sections with stipulations of compulsory coverage and minimum sections for availing of discounts. Scope of Cover :1A. STANDARD FIRE & SPECIAL PERILS.
It covers FIRE, LIGHTING, EXPLOSION/ IMPLOSION, AIRCRAFT DAMAGE, RIOT, STRIKE, MALICIOUS DAMAGE, STROM, CYCLONE, TYPHOON, TEMPEST, HURRICANE, TORNADO, FLOOD, IMPACT DAMAGE, SUBSIDENCE AND LANDSLIDE INCLUDING ROCKSLIDE, BURSTING OR OVERFLOWINGOF WATER TANKS, APPARATUS AND PIPES, MISSILE TESTING OPERATIONS, LEAKAGE OF AUTOMATIC SPRINKLERS, BUSH FIRE. General Exclusions:This policy does not cover (not applicable to policies covering Dwellings) the first 5% of each and every claim subject to minimum of Rs 10,000/- in respect to each and every loss arising out of “Act of God Perils” such as lighting, STFI, Subsidence, Landslide and Rockslide covered under the policy.
This policy will not cover the first Rs 10,000/- for each and every loss arising out of other perils.The excess shall apply per event per insured. Add on Cover Standard Fire and special Perils Policy can be extended to include the following “add on covers”.Architects, Surveyors and Consulting Engineers Fees (in excess of 3% claim amount). Removal of Debris (in excess of 1% claim amount)(i) Deterioration of stocks in cold storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insured peril. (ii) Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery (ies) in the insured’s premises due to operation of insured peril.Forest FireImpact Damage due to insured’s own Rail/Road Vehicles, Fork lifts, Cranes, Stackers and the like and articles dropped there from.Spontaneous Combustion for Classification of materials refer AIFT.Omission to insure additions, alterations or extensions.Earthquake (Fire & Shock).Spoilage Material Damage Cover.Leakage and Contamination Cover.Temporary Removal of Stocks Clause.Loss of Rent Clause. Insurance Additional Expenses of Rent for an Alternative Accomodation.Start up Expenses.Material Spoilage. Fixing of Sum Insured:The basis of sum insured is as follows:Market ValueRe-instatement Value Book Value Market Value which represent the value of the property which if it is sold in open in that locality. But this will not mean the fancy price i.e., offered for particular reason. This can also be arrived at by applying the depreciation for number of years of usage on the value of New. Re-instatement value should represent the replacement value of the property of a new one of the same type and capacity. In case of any loss or damage the insured will be indemnified for the new property in place of old and this basis of insurance is known as Re-instatement Value Basis of insurance which may be availed at the option of the insured. The Re-instatement Value Basis is available only for Building and Plant & Machinery and not for stocks and Stocks-in-process.Book Value is the value of the property as indicated in the insured’s books of accounts. It is arrived at by applying depreciation on the original cost of the property. At some point of time this value may be nominal and not adequate for insurance purposes.NOTE: Assets should be insured for market value or re-instatement value.

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Professional Indemnity
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Professional Indemnity

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This policy indemnifies any act of errors and omissions committed by the insured, who shall be a Registered Medical Practitioner, giving rise to legal liability to Third Parties.

By Insured, it means the policy holder and his qualified assistants and employees, whose names are declared for insurance. Normally, all claims for compensation have to be legally established in a court of law. However, insurance companies may arrive at compromised settlements, if prima-facie liability exists under the insurance policy.

Registered Medical Practitioners are classified as:

  • Physicians
  • Pathologists
  • Oncologists
  • Cardiologists
  • Psychiatrists
  • Radiologists or Roentgenologists
  • General Surgeons
  • Orthopaedic Surgeons
  • Urologists
  • Abdominal Surgeons
  • Thoracic Surgeons
  • Neuro-Surgeons
  • Cardio-Vascular Surgeons
  • Otorhinolarynologists
  • Prootologists
  • Ophthalmologic Surgeons
  • Ophthalmologic Physician (Excluding Surgery)
  • Obstetrician and Gynaecologists
  • Plastic Surgeons
  • Physician and Non-Specialist Surgeons
  • Other Practitioners
  • Scope of cover

This insurance covers legal liability claims against the Insured arising out of bodily injury and/or death of any patient caused by or alleged to have caused by error, omission or negligence in professional services rendered or which should have been rendered by the Insured or qualified assistants or nurses or technicians employed by the Insured and whose names are declared for insurance.

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Error and Omission
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Error and Omission

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Salient features

Medical Establishments (Hospitals and Nursing Homes) can insure acts committed by the professionals and qualified assistants employed by them under this policy.

The insurance company indemnifies the insured Medical Establishment against any third party legal liability which arises out of errors, omissions or negligence of such employees engaged by them, while performing their services or activities which should be part of the declared medical activities of the establishment.

Medical Establishments shall be registered with the competent authority as per the local regulations in force. For this purpose, whenever, necessary applications have been made and not rejected, then this requirement shall be deemed to have been complied with.

In territories where no registration facilities exist, the following minimum norms should be complied with:

At least 10 in- patient facility

A fully equipped operation theatre of its own

Fully qualified nursing staff in its employment round the clock, unless indicated to the contrary and additional premium paid

Fully qualified doctor and/ or doctors should be in charge round the clock

However, as and when official regulations are introduced in the concerned territory, the Insured shall comply with the registration formalities for continuation of the policy at renewal

SCOPE OF COVER

The scopes of cover applicable to this insurance are identical to that of insurance for Doctors and Medical Practitioners

This insurance covers legal liability claims against the Insured arising out of bodily injury and or death of any patient caused by or alleged to have caused by error, omission or negligence in professional services rendered or which should have been rendered by the Insured or qualified assistants or nurses or technicians employed by the Insured and whose names are declared for insurance

The liability of the insurance company is not unlimited. Irrespective of the number of persons or entities named as Insured in the policy, the liability of the insurance company shall not exceed the limit of indemnity selected as the Sum Insured, in respect of any or all claims made against the Insured during the currency of the policy

The limits of indemnity, in most liability policies, are expressed in terms of an any one accident (AOA) limit and an any one year (AOY) limit. For example, the limits selected are Rs. 5 lakhs and Rs. 10 lakhs respectively. During the annual policy period three claims arise out of three different accidents and the liability amounts are Rs. 2 lakhs, Rs.1 lakhs and Rs. 6lakhs

Since the AOA limit is specified as Rs. 5 lakhs, the first two claims are paid in full by the insurers but the third one, is paid to the extent of only Rs. 5 lakhs, although the total amount of the claims made is within the AOA and the AOY limits are deemed to be identical

The amount would also include Defense Costs. These are costs, fees and expenses incurred in the investigation, defense or settlement of any claim made against the Insured with the prior consent of the insurance company.

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Med Claim and Personal Accident Policy
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Mediclaim Policy
  • Salient Feature
  • Scope of Cover
  • Additional Features
  • Exclusions
1. Salient Feature Hospitalisation for illness, disease or accident, whether including surgery or not, imposes heavy financial burden on individuals, families, employers and welfare bodies.
1. Scope of Cover
Mediclaim insurance policy has been devised under the aegis of the Government of India.

The policy provides the following benefits


1) Reimbursement of hospitalisation expenses which are reasonably and necessarily incurred, under the following heads:

a) Room, boarding expenses as provided by the hospital/nursing home.
b) Nursing expenses.c) Fees of surgeon, anaesthetist, medical practitioner, consultant and specialist.
d) Expenses on account of anaesthesia, blood, oxygen, operation theatre charges, surgical appliances, medicines and drugs, diagnostic material, X-ray, dialysis, chemotherapy,radiotherapy, cost of pacemaker, artificial limbs and cost of organs and similar expenses.

2) Introduction of Sub-Limits:

The following provisions have been introduced:

a. Room, Board and Nursing Expenses as provided by the Hospital /Nursing Home- Room Rent limit : 1 % of the Sum Insured per day subject to maximum of Rs.5000./-. I.C. Unitexpenses : 2 % of Sum Insured per day subject to maximum of Rs. 10,000/-. Over all limits under this head : 25% of S.I. per illness.
b.Surgeon, Anesthetist, Medical Practitioner,Consultants Special fees – maximum limits per illness – 25% of S.I.
c.Anesthesia, Blood, Oxygen, OT charges, Surgical appliance, Medicines, drugs, Diagnostic Material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, cost of pacemaker, artificial limbsand cost of stent and implant. Maximum limit per illness – 50% of Sum Insured.
d. Ambulance services - 1% of the sum insured subject to maximum of Rs 1000/- provided registered ambulance is used for shifting patient from residence to hospital if admitted to ICUor emergency ward OR from one hospital to another subject to sub-limits under ‘c’ above.e.Hospitalization expenses of person donating an organ during the course of organ transplantwill also be payable subject to the sub-limits under ‘c’ above. 3) Premium paid for the policy towards self, spouse, dependent children and dependent parents are exempt from Income Tax under Sec. 80D of the l.T. Act.

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