In lighter vein, the most lucrative innovative idea for Insurance sector

Akshay very well thought idea. My vote goes with you.

Good dream , Sirji !

Lovely one:)

Akshay-ji, Excellent idea. Let us join hands and start the business !!!

S Murlidharan, in the history of corruption globally, have you ever seen fast track court working on such cases, even if they do, are they able to penalize the corrupt in proportion to the scale of corruption, surely not.!!!. 

Insurance companies in any case need not insure the fate of the client but strictly safeguarding monetary loss on account of fall out of a corruption case..Insurance company always deal with compensation with money, (analogy accident insurance or health insurance), so no question of any physical substitution on sentence to jail.. 

In case, after a longish trial, the judgement pronounced involves attachment of assets plus a jail term, based on the policy applied by the client, Insurance company may reimburse the financial loss on account of property attachment.  In such
case, the premium could be much steeper, and client would gladly ready to pay for it, because no one could get track of his/her hidden treasures...

In nutshell, both the client as well as the insurance company gain, hundred percent Win-Win business equation for the both...

 

Though written in lighter vein, this makes a lot of sense in terms of safeguarding the corrupt men.  Yes, this will help the insurance companies grow in an exponential manner. Only one out of ten cases would get decided in fast-track courts, but the remaining would prolong for, say, minimum fifteen years and the outcome of delayed judgement would not exceed the premium amount collected.  What if the judgement pronounced involves attachment of assets plus a jail term.  In such case, would the Head of the Insurance company fulfill the conditions of judgement in addition to pay back the insurer the damages, serving the jail term on behalf of his client?
Anyway, nice attempt Mr. Bhatia.

Absolutely yes, Shashi Kumar, Corruption has been global phenomenon since time memorial ever since human history and we have not able to control it without any qualms, leave out persistent rhetoric to eradicate it completely. Why? 

We accept its sanctity, patronize it and indulge in it often, may not always in scam or big scandal proportion, only doing lip service to protest against it. What can not be cured must often be endured.
 
Logically, it is an excellent business model.Surely no one would hesitate paying hefty premium on this because there is always thief inside every mindset, sometimes active and at times passive.

****Do not get emotional about it, it is a satire, do not take it seriously, Corruption is surely a curse****.  

Indirectly you are suggesting corruption to be made legal, because as far as I can understand only legal transactions can be insured. Secondly it is very strange view because in a country where the common man can not have get proper insurance cover at reasonable price, you expect corruption to be insured at large sum of money.

Absolutely not, please read between the lines, Jaygopal, it would surely be the biggest money earner for Insurance sector..

Firstly, it would fetch massive clients from all strata of life globally who would ready to pay hefty premium without a blink and not care much for return in same proportion.... All people engaged in corrupt practices now or even may be planning to engage in future will rush to grab policies so as to ensure in order to buy peace of mind, as if at least something will be retrievable if calamity strikes....Insurance companies would save on advertising and marketing such policies, you can expect mad rush from all sectors and all quarters...

Moreover, have you witness how much fast cases against Corruption move,.. A very, very snail pace, here Insurance company takes premium in consolidation but pays in part. 

First assume how much time it could take for the charges of the corruption come in open at first instance...In maximum of cases people will go on paying the premium and even without being charged... 

Same is the case with such people booked for an inquiry, inquiry starts or for that matter legal process begins..

Most cases will fall flat because the corruption charges would not even be established legally..so Insurance company will not be liable to pay thereof..However the clients will keep paying premiums to safeguard their peace of mind..

What do you think are chances of a culprit to be penalized in the proportion to the pelf earned through corrupt means and in what time frame...negligible chance..

Such is the snail speed of legal process, most of corrupt people may pass away before the final verdict...so, Insurance companies are bound to save and profit enormous amounts....  

Furthermore, once such open environment to safeguard corrupt practices is legally installed, there are the chances for even Insurance sector to become the most corrupt and unethical, not paying a penny for a trivial lapse and gobbling up most without remorse....

Good insight but from the insurance companies point of view they would end up bankrupt as the payouts would be higher. Like all insurance companies have in their policy documents - the fine print which is used to stall all claims. Think of it ! There is a scam there itself but who is gonna insure the insurance companies ?

Wow.  Wonderful idea sir.  It could be the best business plan on the earth.  Soft drink business plan is considered to be the most successful innovative business plan till date.  But, this insurance plan will make that outdated.  Ahahahahah.  Thank you very much Akshayji.

Hahaha Akshay... Amazingly though out!! I would vote for this immediately :))