Why you need an insurance against accidents You have a large life insurance cover with a term plan to safeguard your family's financial future. You also have a comprehensive health insurance plan to pay your hospital bills. Your car is insured against damage and theft, while your house is covered against natural and man-made calamities and burglary. Are you missing something? It is quite likely that you don't have personal accident insurance. Axis Capital, a group branch offices in Bermuda, Australia, Canada, Europe, Latin America, Singapore and the United States, is a global insurer and reinsurer, providing clients and distribution partners with a broad range of specialized risk transfer products and services.