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SME INSURANCE (SMALL & MEDIUM ENTERPRISE) Numerous companies in various industries serve customers according to their demands and preferences. Thus, customers' needs and security can be handled in multiple ways. However, commercial insurance, often known as business insurance, is expressly created to cover the losses a business may incur when defending that firm.

Small and medium-sized businesses, or SMEs, are constantly expanding in number in India. Prime Folios provides adaptable commercial insurance plans so that SMEs and comparable companies can safeguard themselves and their capital against significant losses to support their growth and enhance their operations.

Types of Commercial Insurance

To protect their SME against significant losses and damages brought on by unforeseen risks and circumstances, one can select from a variety of commercial insurance types:

Marine Cargo Insurance

Many companies must move their cargo or merchandise from one location to another using roads, railroads, airplanes, ships, or couriers. Marine cargo insurance can cover these losses and damages if the cargo or commodities are destroyed while being carried. In this method, the insured will not need to pay out of pocket for lost or damaged products.


Commercial General Liability (CGL) Insurance?

  • Commercial general liability insurance is a combination of public liability and product liability.
  • Commercial general liability insurance covers bodily injury, personal injury, and property damage caused by products and injuries on the insured business premises during business operations.

What is Public Liability Insurance?

  • An insurance policy known as a "public liability insurance policy" covers any bodily harm and property damage to a third party for which the policyholder is accountable. It is also called "commercial general liability insurance," combining public and product liability insurance coverage.
  • For instance, a client who enters your office stumbles on a wet floor breaks her ankle and must go to the hospital. In this case, the insurance policy will come into play, and the costs of treating the broken ankle will be paid.
  • Third-party liability insurance is essential for company owners, hospitals, and doctors. Businesses and people that may be held liable for other pertinent problems and legal or financial obligations typically purchase liability insurance policies.

Public Liability Insurance Coverage

To benefit from more thorough protection, the scope of public liability insurance or third-party liability coverage is expanded to include industrial and non-industrial risks, all business units dealing with hazardous substances, etc. This policy can be expanded to cover additional legal costs associated with

  • Natural calamities
  • Sudden and Accidental Pollution
  • Transportation
  • Carriage of treated effluents, etc

What is Product Liability Insurance Policy?

Product liability insurance is essential for business owners, companies that make products, companies that provide medicines, and even hospitals. Businesses or people who could be held liable for other pertinent issues or legal or financial penalties typically purchase product liability insurance policies. For instance, a product manufacturer has been sued for encouraging the sale of faulty products that harm the consumer or other products. The insurance company would cover the ensuing legal expenses if the manufacturer has a product liability insurance policy. This is essential for businesses that produce chemicals, pharmaceuticals, cigarettes, meals and beverages, entertainment, and other items. Although not required, this one is important for several sectors. If you fall under this category, you must not overlook

Product Liability Insurance Covers

The policy can be further enhanced with the following benefits:

  • By selecting the North American Jurisdiction Clause, you can obtain further protection from liabilities resulting from judgments or settlements reached in nations governed by the laws of Canada or the United States of America.
  • You can get additional coverage for liabilities arising due to the distribution and sale of insured products by vendors (named or unnamed vendors) with the manufacturer's warranty and product usage instructions.
  • Our enhanced coverage now extends to legal exposures resulting from sudden and accidental pollution, transportation, natural disasters, and more, ensuring your comprehensive protection.

Small Business Insurance Benefits?

Because they are protected against losses that could interfere with their regular business operations, small business owners can operate with the confidence and peace of mind that comes with having small business insurance. Here are a few reasons why choosing SME insurance from us can be effective.

We help companies in getting more customers.

Trust is the most important asset in today's economy, and our ability to provide insurance coverage fosters consumer confidence in its goods and services. Many clients only opt to do business with reliable organizations. SME insurance we provide can uphold a customer's pleasure and offer compensation if something goes wrong, benefiting both the company and its clients.

We at Prime Folios help Companies bring in and hold on to the Best Talent.

Prospects and clients may be more open to working with a company if they feel confident in their ability to be trusted. More customers and income for the company may result from this. Customers can be more inclined to use a freight and logistics company, for instance, if it is insured against theft and other mishaps-related losses and damages.

We understand that the company's most valuable asset is its workforce. Acquiring appropriate SME insurance coverage for staff members is advantageous for both the company and the staff members. The cause? People like to work for organizations that care about their future, safety, and interests.

Benefits of Commercial Insurance

When an insurance policy protects your SME against different risks and hazards, it helps you focus on growing your business. Below are some of the important benefits of having commercial insurance:

This coverage, which is an element of liability insurance, protects your company against third-party damages. Consequently, you can be protected from their claims if a third-party person is hurt or a third party's property is harmed while on your property. This coverage is available as an add-on for your Prime Folios Package Insurance plan.

We provide goods and services for companies of all sizes. All hazards to which organizations are subjected must be suitably covered. Thanks to our extensive selection of business insurance products, businesses may now concentrate on their operations. Businesses can get essential services from Prime Folios General Insurance Company Limited, like Fire & Allied Perils Insurance and Fire Consequential Loss Insurance. Even large petrochemical complexes, cutting-edge power plants, and motorways connecting towns and cities are rife with dangers during the planning, building, and operating phases, necessitating the most extensive and intricate insurance coverages. For everyone, Prime Folios General Insurance Company Limited has answers.
  • Risk Surveys Risk assessments for clients help limit risk exposure and professionally manage it. Long-term" better insurance pricing" and "low loss incidents" benefit the client.
  • Our Policy wordings not only clarify the insurance programme but also give the client flexibility to pick and choose covers suitable to exposures. Add-on covers support the exigencies of today’s insurance requirements and meet some special insurance demands, which makes the product wholesome and comprehensive.
  • Our Global Insurance Program addresses the client’s insurance requirement for their assets spread worldwide and is well supported through a network of offices in more than 140 countries.


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