Editorial Insurance Times November 2017
GIC Re successfully completed its maiden IPO which was subscribed to the extent of 1.90 times. This will increase the visibility of the company among the masses. Newindia Assurance has…
“DRONE” INSURANCE FOR COMMERCIAL DRONE OWNERS / OPERATIONS
DRONE is popularly known as an abbreviated form of Dynamic Remotely Operated Navigation Equipment. A UAV is defined as a "powered, aerial vehicle that does not carry a human operator,…
RISK BASED CAPITAL IN THE INDIAN INSURANCE INDUSTRY
Background Insurance Companies in India are to keep reserves to meet the future liabilities, these reserves are kept based on prudential regulatory norms. However, regulators also prescribe additional money that…
EXPEDITIOUS CLAIM SETTLEMENT IS THE BEST MARKET DIFFERENTIATOR
Underwriting and claims settlement are the two most important aspects in the functioning of an insurance company. In the present highly competitive and economically challenging environment, claims settlement can serve…
Pradhan Mantri Vaya Vandana Yojana from Life Insurance Corporation of India
Introduction: The Government of India has announced Pradhan Mantri Vaya Vandana Yojana for citizen aged 60 years and above. LIC of India has been given the sole privilege to operate…
Bharat Bhraman Travel Insurance from Bajaj Allianz General Insurance
What is Bajaj Allianz Bharat Bhraman Policy? Bajaj Allianz Bharat Bhraman Policy, is a domestic travel policy for all individuals travelling within India, for holiday/business/personal trips in common or private…
Ahmedabad Ombudsman Orders New India Assurance to Pay Additional Rs. 1.47 Lakh to Complainant
Ahmedabad Ombudsman Centre Case No. GIC / NIA / 1 / 221 Shri. D. D. Mansuri Vs The New India Assurance Company Ltd. By an interim Award dated 14.05.2004 the…
Chennai Ombudsman Rules in Favor of United India Insurance, Rejects Theft Claim
Chennai Ombudsman Centre Case No. IO (CHN) 11.4.1326 / 2004 - 05 Mr. S. Mahadevan Vs United India Insurance Company Ltd. Mr. S. Mahadevan, the sole Proprietor of M/s. Esgee…
Ombudsman Orders New India Assurance to Settle Rs. 8,000 Claim for Stolen Tractor Parts
Bhubaneswar Ombudsman Centre Case No. I.O.O. / B.B.S.R. / 11.002.0054 Shri. Gadadhar Panda Vs The New India Assurance Company Ltd. The Insured – Complainant had insured his tractor with tiller…
Kochi Ombudsman Orders United India Insurance to Settle Burglary Claim at Rs. 1.5 Lakh
Kochi Ombudsman Centre Case No. IO / KCH / GI / 11/ UIIC/ 01 /2004 - 05 Shri. Glamour Vs United India Insurance Company Ltd. The complainant under Rule 12(1)…