MHDI General Insurance Products & Services


Commercial Comprehensive Package

At Magma HDI, we realise that an unfortunate incident like a vehicular accident can occur at anytime. Which is why, we have designed our Commercial Motor Policy to be your companion in difficult times. This policy is designed to adequately cover any loss or damage sustained by your vehicle. Additionally, it also addresses the compulsory Third Party Liability clause as required by the Motor Vehicles Act.

Motor Act Only

Our Act Only Policy For Vehicles is designed to cover the compulsory Third Party Liability as required by the Motor Vehicles Act

Motor Add Ons

Our Motor Package Policy Add-On Covers are designed to cover some additional risks of your vehicle, along with any loss or damage that your vehicle might have incurred.

Motor Trade Internal Risk

Our Motor Trade Internal Risk Policy ensures that your compulsory Third Party Liability clause under Motor Vehicles Act is taken care of. Not to mention, the policy also ensures adequate cover in the event of loss or damage to the vehicle itself, exclusively for motor manufacturers and dealers.

Motor Trade Package

These endorsements are designed to cover some additional risks of the vehicle together with loss or damage to the Vehicle itself.

Private Car Package

At Magma HDI, we understand your car is your prized possession and that you want to do everything possible to ensure its security. Hence, we bring the Private Car Package Policy.It is not just designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act, but also any loss or damage to the your vehicle.

Two Wheeler Package

Your two-wheeler is a thing of pride for you, we understand that. Which is why, our two-wheeler package policy is designed to cover the compulsory Third Party Liability as required by Motor Vehicles Act as well as any loss or damage to your two-wheeler.


Clinical Trials Liability

MHDI”s Clinical Trial Liability Policy provides protection against legal liabilities arising out of clinical trial. The policy not only provides coverage against suits and damages awarded by courts but also covers the defence costs incurred by them while contesting such claims of liability damages.

Directors & Officers

The Directors and Officers Liability Policy covers the legal liability including the costs to defend any civil and / or criminal action against the Directors and / or Officers holding a responsible position in an organisation for any wrongful act, error or omission committed by them in the course of their discharge of duties, in running the operations of the company and any other acts for and /or on behalf of the company.

Errors And Omissions

The role of professionals is increasing with the globalisation of trade and industry in India. There is an enhanced requirement of professionalism and due diligence from professionals pertaining to various fields. But sometimes services rendered can become a cause for financial hardship rather than earnings. Here’s where the role of our Errors and Omissions Policy comes in. This policy takes care of your liabilities which may arise due to negligence while executing your professional responsibilities.

Product Liability

Product Liability Policy covers all sums for which you might become legally liable to pay damages in consequence of accidental death/bodily injury or disease to third parties and/or loss of, or damage to, third party property arising out of any defects in the products manufactured and covered under the policy after such products have left your premises. It shall not be permissible to issue Product Liability Policies with unlimited liability.

Public Liability Industrial

Public Liability Insurance Policy provides cover against your legal liability to pay compensation including claimant’s costs, fees and expenses anywhere in India, in accordance with Indian Law.

Public Liability Non – Industrial

The Public Liability Policy broadly covers your legal liability towards damages to a Third Party in respect of accidental death or bodily injury or disease and loss or damage to property arising out of such accidents. It also covers legal costs and expenses incurred with your prior consent and within the limit of the indemnity.

Public Liability Insurance Act

In terms of the Public Liability Insurance Act, 1991, all “owners handling hazardous substances” are compulsorily required to take an insurance policy to the extent laid down in the Act.


Fire Loss Of Profits

When a fire occurs or any of the other perils covered under the Standard Fire & Special Perils Policy (Material Damage Policy) occur, the material damage policy will help the insured in reinstatement/ repair/replacement of the damaged building, plant & machinery and stock.

Industrial All Risk Insurance

A comprehensive coverage for industrial risks, the Industrial All Risk (IAR) Policy has an overall sum insured of Rs. 100 crore and above in one or more locations in India. The policy covers not only the physical losses or damage but also consequential losses arising out of the business interruption due to accidental or unforeseen physical loss or damage to property.

Standard Fire And Special Perils

Fire insurance policy is suitable for you if you own a property or someone who holds property in trust or in commission; or if you are an individual or a financial institution that has financial interest in the property. All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at supplier’s/customer’s premises, machinery temporarily removed from the premises for repairs can be insured.


Boiler & Pressure Plant

Boiler Pressure Plant Policy covers the boiler and pressure vessel you own against explosion, implosion and collapse. It can be extended to cover third-party liability and other specified risks. The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types of boilers and/or other pressure plants, where steam is generated.

Contractor’s All Risks

The Contractors All Risks (CAR) Insurance offers comprehensive coverage for all types of civil construction risks. The coverage for physical loss or damage to property is on an “All Risks” basis, i.e. the policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specified excluded perils and subject to the terms and conditions of the policy.

Contractor’s Plant And Machinery

Specially designed to protect the interest of civil contractors, our Contractor”s Plant & Machinery Policy ensures that you are well covered against the damage or destruction of various civil engineering projects. These projects include accidental damage to civil construction works, contractor’s plants & machinery at the construction site and damage/ defects during the subsequent period of maintenance for which you are liable under the terms of the agreement between the contractors and the principle.

Erection All Risk

Erection All Risk (EAR) insurance protects the principal and contractors, manufacturers and suppliers erecting machinery and plant etc. against financial loss. This may be due to any sudden fortuitous and unforeseen causes resulting in loss or damage to the property insured at the project site whilst being stored, erected, tested and commissioned.

Electronic Equipment Insurance

Electronic Equipment Insurance Policy covers electronic equipment you own or the ones for which you are responsible.

Machinery Breakdown

Machinery Breakdown Policy covers your mechanical and electrical machinery and equipment for which you are responsible or held in trust and/or commission at the insured premises.

Machinery Loss Of Profits

When a loss occurs due to any of the perils covered under Machinery /Boiler Loss of Profit Policy, you will be insured for the reinstatement/ repair/ replacement of the damaged machinery.


Marine Cargo Open

At Magma HDI, we understand the critical need for your cargo to arrive at the destination, safe and sound. Accordingly, our Marine Cargo Policy covers goods (machinery, raw materials, finished goods etc.) during transit under a contract of affreightment.

Marine Cargo Specific Voyage

Marine Cargo Specific Voyage Policy covers goods (machinery, raw materials, finished goods etc.) during transit under a contract of affreightment.

All Risk Policy

All Risk Policy is a product designed to cover your valuable movable equipment like laptops, mobile phones, handy cams, jewellry, and the like which do not remain confined to your own home and are exposed not only to natural perils but also to theft, snatching, etc.

Burglary Insurance

Burglary policy covers stocks and contents owned by you or for which you are responsible or held in trust and/or commission at the insured premises. It also covers cash, valuables, and securities kept in a locked safe or cash box in a locked steel cupboard on specific request.