Nov
14
2008
Attention all vehicle owners!
Under section 147 of Motor Vehicle Act, Government has clearly said after some recent hearings in Tamilnadu court on such cases, where pillion riders were died and their family members filled a claim and later on the same was rejected by the insurance company saying that the customer was a gratuitous one and they are not liable to pay for such claims. Thereafter the victim’s family went to the court and several rounds of hearing gae a firm verdict that no such cases should be entertained by insurance companies in future.
Our country witnesses a lot of such incidents and results contribute in huge number of deaths due to road accidents. Many of such fatal cases speaks about alcohal influence or some harmful drugs. Some times over time in some organizations also contribute to such happenings as most of these happenings occur in late nights.
If any of you are habitual of doing so, just stop now…it’s not only due to the recent verdict…because life is priceless, save it…
Nov
10
2008
Insurance Companies in
India
Indian General Insurance Industry has a annual size of more than Rs 25,000 crores and comprises mainly two types of players:
- Nationalized Companies
- Private Players
Important Details of Nationalized General Insurance Players in
India:There are 4 nationalized general insurers in India and they are part of GIC (General Insurance Corporation of
India). GIC is also a national re insurer since December 2000.
1. The Oriental Insurance Company Ltd
Incorporated in 1947 in Bombay has its head office in
New Delhi, 23 Regional Offices and around 900 Branch Offices. The company has over 16000 employees and has done a business of over Rs 3800 crores in 2007-08Official Website: www.orientalinsurance.nic.in
2. The New India Assurance Company Ltd
Incorporated in 1919 in Mumbai was the first fully Indian Owned Insurance Company in
India. The number one company in India has a wide range of products and spread across
India through more than 1000 Branch Offices. Besides the company has strong presence in Afro-Asian region. It has done a business of over Rs. 5000 crores in 2007-08Official Website: www.newindia.co.in
3. National Insurance Company Ltd
Incorporated in 1906 in Kolkata has been one of the leading Insurance companies in
India for ages with more than 16000 employees and over 1000 Branches. The company has 180 policy offerings for all insurance seekers for all insurance needs and has a huge customer base of 10 million. In year 2007-08, it has done a business of over Rs. 3500 crores.Official Website: www.nationalinsuranceindia.com
4. United India Insurance Company Ltd
Since its inception in 1938 with its corporate office in Chennai, United India Insurance has been a pioneer in Indian Insurance Industry with more than 18000 employees and around 1300 Branches across the country. In 2007-08 the company has written a business of over Rs. 3000 crores.Official Website: www.uiic.co.in
Snapshot of Private General Insurance Players in
India
