Terms & Conditions Insurance Process

Lost Card Liability

Period - 60 days pre-reporting and 7 days post-reporting, including the date of reporting.
The policy covers all fraudulent utilization of lost or stolen INDUSIND BANK LIMTED Debit Cards at point of sale and merchant establishment’s transactions.
Cardholder in every case to cancel the card as soon as practicable, but not more than 3 number of days from the date of notification of fraud transaction via SMS, card statement, email, net banking or by any other means
Pre-delivery frauds and loss in transit are covered
PIN based transaction (ATM, Internet, Telephone) are covered
Internet fraud/ counterfeit transactions covered
Any claim due to violation of law is not payable.
Claim to be intimated to ICICI Lombard within 30 days of intimation to bank by the customer

Counterfeit Cards

Skimming - Any Fraudulent Use of a Bank Card(s) where property, labour or services are sold and delivered by a merchant to an individual purporting to be the cardholder using telephone, fax machines, postal services or a computer based system or network
For counterfeit card: Claim has be reported by cardholder within to bank within 5 days from the date of issue of statement containing the disputed counterfeit transaction.
Covers losses arising out of duplicate or counterfeit cards as issued by the Bank created without the Card holder’s Knowledge
Cardholder in every case to cancel the card as soon as practicable, but not more than 3 number of days from the date of notification of fraud transaction via SMS, card statement, email, net banking or by any other means
Reporting Period - 60 days pre-reporting and 7 days post reporting Cover.
Counterfeit Card shall mean a Card which has been embossed or printed so as to pass off as a Card issued by the Bank which is subsequently altered or modified or tampered with without consent of the Bank named in Part I of the Schedule.
PIN based transaction (ATM, Internet, Telephone) are covered
Claim to be intimated to ICICI Lombard within 30 days of intimation to bank by the customer

Online Fraud Protection

Phishing/ account takeover - Any fraudulent loss or damage arising due to Information obtained by Unauthorized Access to sensitive information such as usernames, passwords and any card details by masquerading as a trustworthy entity in an electronic communication which is not owned, operated or contracted by the Insured or the Insured’s Bank Card processor.
The policy covers all online fraudulent utilization of Credit Cards using the authorized CVV (Card Verification Value Code) issued to the Cardholder by the Bank
PIN based transactions are covered
Password based transactions are not covered.
The Company will not make any payment for any claim directly or indirectly arising from, or occasioned by, or due to:
Loss incurred by the cardholder because of misuse of credit card at any site not having authorized VeriSign Security status or any other equivalent security status at any point in time for the entire period of the insurance.
Any failed/ duplicate/ declined transactions by host website/ authorized bank
Any errors made by the host Website/ authorized bank.
Internet Banking Frauds is defined as fraudulent transactions being made on the internet by use of lost/stolen cards.
Reporting Period - 60 days pre-reporting and 7 days post reporting Cover.
Cardholder in every case to cancel the card as soon as practicable, but not more than 3 number of days from the date of notification of fraud transaction via SMS, card statement, email, net banking or by any other means
Claim to be intimated to ICICI Lombard within 30 days of intimation to bank by the customer

Purchase Protection

To the Insured a sum not exceeding the Sum Insured, in respect of loss or damage caused by specified perils (fire & special peril) & burglary to the tangible goods purchased by the Insured through the use of the Card in accordance with the Sum(s) Insured up to 90 days from date of purchase
Cover against Standard Fire and Allied perils and Burglary in the residential address of the cardholder as per the records of the Policyholder.
Geographical Limit - India
Claim to be intimated to ICICI Lombard within 30 days of intimation to bank
Jewellery, perishable items are not covered
Earthquake, Terrorism are covered
Mysterious disappearance is not covered

Personal Accident - Air Accident

Claim under this cover is payable only once irrespective of the number of cards held by the cardholder.
Cover is applicable only if the ticket is purchased through the covered card
Customer should have done 1 POS / E-Commerce / ATM transactions transaction in the last 60 Days from the date of Loss Event happening
Also covers death due to Air-Accident
Pilots, armed forces, police, air crew are covered except for armed forces on duty.
Claim to be intimated to ICICI Lombard within 90 days of intimation to bank

Personal Accident

Claim under this cover is payable only once irrespective of the number of cards held by the cardholder.
Customer should have done 1 POS / E-Commerce / ATM transactions transaction in the last 60 Days from the date of Loss Event happening
Personal Accident covers accidental death due sudden, unforeseen and involuntary event caused by external, visible and violent means
Terrorism is covered in the policy
Claim to be intimated to ICICI Lombard within 90 days of intimation to bank

Loss of checked baggage

For International Travel only
Available on baggage checked by international airline for an international flight.

Delay of checked baggage

For International Travel only
Available on delay of more than 12 hours from scheduled arrival time when baggage checked by international airline
Deductible – 12 Hours

Loss of passport