General Insurance Products
The department offers general insurance across four broad branches, with multiple products within each.

1. Fire Insurance

Fire insurance protects your property — buildings, machinery, stock, and other assets — against loss or damage caused by fire and related perils. In practice, the policy also covers allied risks such as lightning, explosion, and natural disasters. KSID offers fire policies for residential, commercial, and industrial premises. Two customer-friendly flagship products under this branch are:

  • KSID Griha Raksha Policy — a comprehensive home insurance package designed for homeowners.
  • KSID Bharat Laghu Udyam Suraksha Policy — tailored for small businesses and enterprises to protect their assets from fire and related risks.

2. Motor Insurance

Motor insurance is mandatory under Indian law and KSID provides two types:

  • Motor Own Damage (OD) Policy — covers loss or damage to your own vehicle due to accidents, fire, flood, theft, and other specified perils. KSID offers package policies for private cars, two-wheelers, goods-carrying vehicles, and other commercial/miscellaneous vehicles.
  • Motor Third Party (TP) Policy — covers your legal liability to third parties for bodily injury, death, or property damage caused by your vehicle. This is compulsory for all vehicle owners under the Motor Vehicles Act.

3. Marine Insurance

Marine insurance covers goods and cargo in transit — whether by sea, air, road, or rail — as well as inland vessels (hull insurance). It protects against risks such as loss, damage, theft, or total destruction of goods during transit. KSID offers both cargo policies (for businesses exporting, importing, or moving goods domestically) and hull policies (for boat/vessel owners). This is an essential cover for traders, manufacturers, and logistics businesses.

4. Miscellaneous Insurance Products

This is a wide category covering several specialised policies:

a) Fidelity Guarantee Insurance 

Protects employers — particularly businesses and government undertakings — against financial losses caused by the fraud, dishonesty, embezzlement, or misappropriation committed by their own employees. The cover is available in different formats: named individual, collective, floating (for a group), position-based, or blanket (covering entire staff).

b) Banker’s Indemnity Insurance

A specialised policy for banks and financial institutions. It covers losses arising from employee dishonesty, forgery, robbery, burglary, theft, and damage to cash and securities. It is designed to protect banks against the wide range of internal and external financial crimes they face in daily operations.

c) Employees’ Compensation Insurance

This policy protects employers from their legal liability to pay compensation to workers who suffer accidental injuries, occupational diseases, or death while in the course of employment. It is aligned with the Employees’ Compensation Act and is essential for any organisation employing manual or hazardous-work staff.

d) Group Personal Accident Insurance (GPA)

This policy provides financial protection to a group of individuals — typically employees or members of an organisation — against accidental death and disability. KSID offers five variants (KSIDPA1 through KSIDPA5) with varying levels of coverage, including death benefit, permanent total disability, permanent partial disability, and temporary total disability benefits.

e) Burglary Insurance — Business Premises

This policy compensates businesses for loss of or damage to property stored in their premises due to actual forcible and violent break-in (burglary or house-breaking). The cover can be extended to include theft even without forced entry. It is available on a full-value or first-loss basis.

f) Money Insurance

Covers cash, currency, and negotiable instruments while in transit (carried by an authorised employee) against robbery, theft, hold-up, and all-risk perils. It also covers money kept overnight in a burglar-resistant safe. This policy is ideal for businesses that regularly carry large sums of cash — such as for salary disbursements or banking operations.

g) Liability Insurance

Covers the policyholder’s legal liability to third parties for accidental bodily injury or property damage arising from their business activities. KSID offers:

  • Public Liability (Act) Insurance — mandatory for owners/handlers of hazardous goods under the Public Liability Insurance Act, 1991. Notably, fault or negligence need not be proved for a valid claim under this Act.
    Public Liability (Industrial Risks) — broader liability coverage for industrial establishments.

h) Package Policies

Bundled insurance products that combine multiple covers into a single policy for the convenience of the customer, offering wider protection at competitive premiums. Examples include vehicle package policies (OD + TP + personal accident) and business package policies.

i) Jeevanraksha

A flagship group scheme offered by KSID, typically for government employees and organised workforce groups, providing standardised personal accident coverage at affordable group rates.