ICICI Lombard has launched a business insurance portal for small and medium enterprises (SMEs).
SME owners can buy and renew insurance products, endorse their policies, and register claims through this new launched portal.
The company said in a statement that "different insurance options such as marine insurance, workmen compensation are the options for the business owners".
Small and medium businesses in India have been severely affected by the coronavirus pandemic. "Small and medium businesses in India need to manage such risks effectively", India’s one of the leading private sector non-life insurance companies believes.
ICICI Lombard also said, "With the newly launched platform, small businesses can avail various insurance related solutions conveniently at the click of a button, thereby ensuring that they are adequately covered against any risks to their business operations."
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.