Life & General Insurance and Reinsurance Brokers
Head Office

392 A, Mahale Plot,
Gokhalenagar Road, Pune,
Maharashtra, India - 411016
Contact: +91 20 25551000-23
Fax: +91 20 66016791

Liaison Offices

6th Floor, Maker Chambers VI
Nariman Point, Mumbai
Maharashtra, India - 400021
Contact: +91 22 22880114/15
Fax: +91 22 22880483

Email: enquiry (at)

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Frequently Asked Questions

What are the different ways to buy general Insurance?

  • Through an agent, broker or any other such intermediary.
  • Anyone using the title broker is usually independent and generally aims to find you the best deal on the market.
  • Other intermediaries might just quote the best deal from a fairly small panel of insurance companies or represent a single insurance company.
  • Alternatively, you can approach the insurance company directly.

  • What is the difference between an Agent and a Broker?

  • An agent is the representative of Insurance Company whereas a broker is the representative of the consumer or the policyholder.

  • What services does a broker provide?

  • Provide pre sales and after sales service to customers
  • Provide relevant information to the underwriters for risk assessment and to ascertain the premium
  • Structure product and design covers that meet the specific requirements of customers
  • Recommend risk improvement and loss minimization measures
  • Provide a collection of Premiums
  • Provide risk management and insurance education.

  • What factors affect the cost of Insurance?

    The factors that can affect the cost of insurance include:
  • The likelihood of a loss occurring
  • Purchase of a large amount of coverage (that is, if the item you are insuring is quite valuable)

  • What is Underwriting?

  • Underwriting of a risk involves the consideration of material facts on the basis of which a decision will be taken whether to accept the risk and if so, at what rate of premium.

  • What is Reinsurance?

  • Insurance companies practice the fundamental principle of spreading their risk too. Further reinsuring the risks that the insurance company has insured does this.

  • Who do you file your claim with?

  • You file a claim with the insurance company that issued your policy. In case of policies received on account of your employment you may have to file claims through the HR administrator.

  • What are the things to be taken care of while filing a claim?

  • Be thorough and exact when reporting damage and always tell the truth. Withholding vital information or exaggerating the facts can, not only lessen your chances of the claim being settled to your satisfaction, but also may be considered a crime.(Insurance fraud costs consumers crores of rupees a year)

  • What happens after a claim has been filed?

  • Once your claim has been filed, the insurance company will assign a surveyor.
  • He or she is charged with investigating your claim and then making a recommendation to the insurance company.
  • The recommendation can be to accept the claim and pay the full amount requested, accept part of the claim and make partial payment, or refuse the claim and make no payment.
  • The insurance company will then make a decision regarding your claim and notify you of its final decision. The amount of compensation offered can vary according to the surveyor’s analysis.

  • What impact does a deductible have while settling a claim?

  • If you have no deductible, the company will pay 100% on a covered loss.
  • To understand how a deductible works, consider the following: If the deductible on your motor insurance is Rs. 1000 it means you agree to pay this amount first, and your insurance company will pay for damages exceeding this deductible.
  • By increasing your deductible from Rs. 1000 to Rs. 2500 or even Rs. 3500 this decreases the insurance company’s risk. This could mean a savings in your premium.

  • Who keeps an eye on the Insurance companies?

  • The Insurance Regulatory and Development Authority controls insurance regulations in India. In addition to approving rates, the regulatory body is involved in all insurance matters on behalf of private citizens and businesses.
  • It issues operating licenses to insurers, brokers & agents

  • "We have L&G as our Brokers for the past four years irrespective of the change in Insurance company. In any case the service levels are excellent and let us hope to keep the same in future."

    Michael Philips

    Vice President, An Automobile Company

    If you have questions about insurance or the role of broker or any other Frequently Asked Questions then we would love for you to take the time to read what we have to say.
    If you feel inspired by what you have seen on our site, and you feel that your talents would be right for our team, feel free to contact us. You can drop us a note using our Contact Form or just send us your resume to jobs (at)