Disclosure

Chqbook Insurance Broking Private Limited (hereinafter referred to as “CIBPL” or “its” or “Chqbook Insurance” or “Insurance Broker”) is a Direct Insurance Broker (Life and General) duly registered with the Insurance Regulatory and Development Authority of India (“IRDAI”) (Registration No. 767, IRDAI Direct Broker Code-IRDA/DB 830/08/20 registration being valid till August 16, 2024) (Direct Broker) whose registered office is situated at 401 & 402, 4th Floor, Magnum Tower II, Sector 58, Golf Course Extension Road, Gurugram-122011, Haryana, India. 

Purchase of any insurance product by CIBPL’s customer(s) is purely voluntary and is not linked to availing of any other facility/services/products from Nineroot Technologies Private Limited.

Definitions(s):

  1. “Insurer” shall mean and include the Insurance Company(ies) with whom Chqbook Insurance has an official agreement and/or engagement that had been executed or is in the process of being executed.
  1. “Customer(s)” shall mean and include the applicants and/or the customers of respective insurers who avail/purchase the insurance products on the Chqbook Platform.

It is hereby provided that for the purposes of this engagement Insurer and the Customers shall Individually be referred to as “Party” and collectively as “Parties”.

The insurance products available at www.chqbookinsurance.com or on the chqbook mobile application (hereinafter referred to as “Chqbook Platform”) are offered and underwritten by the respective insurers. Chqbook Insurance is as a direct insurance broker acts as a representative of the customer. Chqbook Insurance is not an agent, corporate agent or other intermediary representing the insurers, whose products are dealt with on the Chqbook platform. Chqbook Insurance is also not a sub-agents or sub-intermediaries of the agents and intermediaries of the respective insurers.

CHQBOOK INSURANCE IS ONLY COLLECTING OR ASSISTING IN COLLECTING THE PREMIUM ON BEHALF OF THE INSURER CHOSEN BY YOU TO AVAIL THE INSURANCE PRODUCT. THE ACCEPTANCE OF THE DEPOSIT AS PREMIUM AND FINAL ISSUANCE OF THE INSURANCE POLICY IS SUBJECT TO THE UNDERWRITING NORMS AND DISCRETION OF THE INSURER, ON WHICH CHQBOOK INSURANCE HAS NO CONTROL. FURTHER, ANY PRODUCT INFORMATION DISPLAYED ON THE CHQBOOK PLATFORM IS SOLELY BASED ON THE INFORMATION RECEIVED FROM THE CONCERNED INSURER. IT IS HEREBY PROVIDED THAT CHQBOOK INSURANCE SHALL BE ABSOLVED OF ALL THE DUTY(IES), ROLE(S), RESPONSIBILITY(IES) FOR WHICH THE INSURER SHALL BE LIABLE. 

The insurer underwriting the particular insurance product purchased/serviced through the Chqbook Platform is solely responsible for settling any claim thereunder or taking any decisions on claim settlements. By its operation of the Chqbook Platform or otherwise, Chqbook is only acting in the capacity of an insurance broker and does not, in any circumstances, underwrite any insurance business or partake in the conduct of insurance business.

For more details on risk factors, terms and conditions, insurance policy guideline(s) please read the sales brochure/customer information sheet/policy wordings of a particular plan carefully before concluding a sale. For more details on a plan, please refer to the Policy wordings of the particular plan/or reach out to us on 9289010320 or care@chqbookinsurance.com or the respective insurer.

It is hereby clarified that, Insurance is a subject matter of solicitation, and the Insurance Policy is issued, based on a contract between the insured and insurer.

Fraud/Spurious phone calls: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premium. Public receiving such phone calls are requested to lodge a police complaint against the concerned and respective insurer.

Tax Benefits under the policy will be as per the prevailing income tax laws and are subject to amendments from time to time. For tax related queries, please contact your independent tax advisor.

Remuneration payable to Chqbook Insurance on the Plans/Products offered on the Chqbook Platform are subject to the limits specified under the IRDAI (Payment of Commission or Remuneration or Reward to Insurance Agents and Insurance Intermediaries) Regulations, 2016, as amended from time to time. For more details please visit https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo3032&flag=1

For information on buying insurance, standard claim procedures/documentation, do’s and don’ts, general alerts, dealing with intermediaries and FAQs – visit IRDAIs customer education website www.policyholder.gov.in

Your attention is drawn to Section 41 of the Insurance Act, 1938, which is in the following terms: “(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer: Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer. (2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.”

Before you enter into a contract of general insurance, you have a duty under the law to disclose every matter that you know or could reasonably be expected to know, that is relevant to the insurer’s decision whether to accept the risk of insurance and if so, on what terms. You have the same duty to disclose those matters before you renew, extend, vary or reinstate a contract of insurance.

If you fail to comply with your duty of disclosure, the insurer may be entitled to repudiate or reduce its liability under the contract in respect of a claim or may cancel the contract. If your non-disclosure was fraudulent, the insurer may also have the option of voiding the contract from the beginning (i.e., treating it as if it never existed).

Information regarding the full extent of your duty of disclosure is contained in your policy wording and should be read carefully at any point in your insurance transaction including when your policy is renewed, extended, varied or reinstated.

Every contract of insurance is subject to the doctrine of utmost good faith, which requires that the Parties to the contract should act toward each other with the utmost good faith. Failure to do so on your part may prejudice any claim or the continuation of cover provided by Insurers.