Page 48 - Insurance Times June 2021

iii) In the event of (b) above the indemnity afforded circumstance regardless of when such claim may
by this extension shall apply only in respect of the actually be made.
exception(s) and/or condition(s) imposed.
iv) Such claims results from bodily injury or property Exclusions of the policy:
damage happening on or before the retroactive Exclusions are basically meant to exclude from the scope of
date and prior to the end of the final period of cover all eventualities that cannot be attributed to and
insurance. resulting from the participation in the clinical trial including:
v) Any such claim in connection with occurrence which 1. Damages that do not exceed certain degree of adverse
has given rise to any other claim first made and reaction that is to be expected from the trial drug.
notified during any period of insurance may be 2. Deterioration of the existing state of health which
deemed to have been made and notified on the would have occurred without participant in the clinical
date the first of those claim was made. Basically trial.
the indemnity afforded by this extension (subject
3. Deliberate contravention by the trial subject of the
to the proviso thereof) will also apply in the event
express instructions of the investigators
of the cancellation or non-renewal of this section
by the insured other than in circumstances 4. War, radiation, etc. and such other standard exclusions
connected with (a), (b) or (c) above. Provided 5. Fines, penalties, etc.
always that in the event of
such cancellation or non-
renewal the period of twelve
months specified above shall
be reduced to a period of six
months immediately
following the final period of
insurance.
4) Notification of event of
circumstance: If during any
period of insurance the insured
shall give written notice to the
insurer in accordance with
condition that in the event of an
accident including continuous or
repeated injurious exposure to
substantially the same general
conditions which results in bodily
injury or property damage or other contingencies
neither expected nor intended from the stand point of Reference:
the insured, the insurer may accept the liability of the Different contemporary regulations, discussions &
claim or claims which may subsequently be made information as collected & collated from various text
against the insured arising out of that event or materials available on-line & in hard copies.

Bharti AXA Life in bancassurance pact with Shivalik Small Finance Bank

Bharti AXA Life Insurance has entered into a bancassurance partnership with Shivalik Small Finance Bank for the
distribution of its life insurance products through the bank's pan-India network of branches. This alliance is a part of
the bank's various measures towards financial inclusion and acceleration of wealth creation for its customers. Bharti
AXA Life Insurance will offer its suite of life insurance products, including protection, health, savings and investment
plans, to customers of Shivalik Small Finance Bank across its 31 branches and digital network across the country. This
alliance will enable over 4.5 lakh customers of Shivalik Bank to access the range of products offered by the company
to provide financial security.

48 The Insurance Times, June 2021