Beruflich Dokumente
Kultur Dokumente
ltd
find: 1. its history
2. What products they offer and their sub policies and plans
3. Then come to motor insurance
4. Everything about motor insurance, ok??
5. Then incase of claim
6. Steps after registering
7. And other available info about motor insurance..
What is Insurance ?
It is a system by which the losses suffered by a few are spread over many,
exposed to similar risks. Insurance is a protection against financial loss
arising on the happening of an unexpected event.
Profile
History
Present Position
International Presence
Our Strengths
Pioneers
Citizens' Charter
stablished by Sir Dorab Tata in 1919, New India is the first fully Indian
owned insurance company in India.
New India was a pioneer among the Indian Companies on various fronts,
right from insuring the first domestic airlines in 1946 to satellite insurance
in 1980. The latest addition to the list of firsts is the insurance of the INSAT-
2E.
With a wide range of policies New India has become one of the largest non-
life insurance companies, not only in India, but also in the Afro-Asian
region.
History
Top
Present Position
Gross Premium (in India) of Rs. 5017.20 crores in the year 2006-2007, as
against Rs. 4791.49crores in the year 2005-2006. Assets Rs. 27444.57crores
as on 31st March 2007. Network of Offices-26 Regional Offices, 393
Divisional Offices, 614 Branches and 34 Direct Agent Branches. Rank No. 1
in the Indian market. Largest Non-Life insurer in Afro-Asia excluding Japan.
First Indian non-life company to cross Rs. 5000 crores Gross Premium. Global
Re-insurance facilities. Over-seas presence in countries like Japan, U.K,
Middle East, Fiji and Australia.
Top
International Presence
Top
Our Strengths
Top
Pioneers
Top
Citizens' Charter
Our Mission
Our Values
Transparency in operations.
Employee Strength
Category
Total
Number of
Employees
Function
Class I
4913
Supervisory
Class II
3073
Developmen
t Force
Class III
10050
Clerical/Secr
etarial
Class IV
2238
Substaff/Driv
ers
P. T. S.
412
Training:
Corporate Set Up
Fax:
022-
26722
41
Mr. N. Dy Gen. Off: n.toppo@newindia.co.in
Toppo Manager
022-
26758
23
Resi:
022-
36850
04
Fax:
022-
26970
44
Mr. Atul Chief Manager Off: atul.sahai@newindia.co.i
Sahai n
022-
27083
02
Resi:
022-
26285
31
Fax:
022-
27004
72
Intermediary
Brokers
Agents
Surveyors
Agents
License fee of Rs 250/- payable to IRDA and Rs.150/- for renewal license. The
bank draft to be submitted to designated person through reporting office
alongwith the Application Form.
The job of a TPA is to maintain databases of policy holders and issue them
identity cards with unique identification numbers and handle all the post
policy issues including claim settlements. In terms of infrastructure, the
TPAs run a 24-hour toll-free number, which can be accessed from anywhere
in the country. And they will have full-time medical practitioners under
their employment who will immediately take a decision on whether the
ailment is covered under the policy.
TPA license can be granted to any company registered under the
Companies Act 1956. IRDA, which licenses and regulates these TPAs, has
specified stiff entry norms some of which include a minimum capital
requirement of 1 Crore, capping the foreign equity at 26% etc. License is
usually granted for a period of 3 years.
TPA may issue identity cards to all the policy holders, which they have to
show to the hospital authorities before availing any hospitalisation
services.
In case of a claim, policy holder has to inform TPA on 24 hr toll free line
provided by the TPA.
On informing the TPA, policy holder will be directed to a hospital where the
TPA has a tied up arrangement. However policy holder will have the option
to join any other hospital of his choice, but in such case payment shall be
on reimbursement basis.
TPA issues an authorisation letter to the hospital, for the treatment wherein
the TPA will pay for the treatment.
TPA will be tracking the case of the insured at the hospital and at the point
of discharge, all the bills will be sent to TPA.
TPA sends all the documents necessary for consideration of claims, along
with bills to the insurer.
Every person who is an individual and intending to act as a surveyor and loss
assessor in respect of general insurance business shall apply to the Authority
for grant of licence in FORM-IRDA-1-AF as given in the Schedule to these
regulations.
The Authority shall, before granting licence, take into consideration all
matters relating to the duties, responsibilities and functions of surveyor and
loss assessor and satisfy itself that the applicant is a fit and proper person to
be granted a licence. In particular and without prejudice to the foregoing, the
Authority shall satisfy itself that the applicant, in addition to submitting the
application complete in all respects:-
satisfies all the applicable requirements of section 64UM read with section
42D of the Act and rule 56A of the Insurance Rules, 1939;
The Authority on being satisfied that the applicant is eligible for grant of
licence, shall grant the same in FORM-IRDA-2-LF as given in the Schedule to
these regulations and send an intimation to the applicant together with an
identity card mentioning the particular class or category of general insurance
business namely, fire, marine cargo, marine hull, engineering, motor,
miscellaneous and loss of profit for which the Authority has granted licence
and the licence shall remain valid for a period of five years from the date of
issue thereof, unless cancelled earlier.
The Authority on being satisfied that the applicant is eligible for grant of
licence, shall grant the same in FORM-IRDA-4-LF as given in the Schedule to
these regulations, and, all the provisions of regulation 3 above, shall apply
mutatis mutandis to corporate surveyors.
Products
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Commercial
Shopkeepers Policy
Aviation Insurance
Industrial
Fire Policy
Burglary Policy
Liability
Social
Rural Insurance
Your sights are firmly set on
steering your business in the right
direction, getting new contracts
under your belt, achieving growth
and increasing profits. The
continuous expansion of world
trade demands that your business
must be increasingly competitive,
notwithstanding a steady stream of
economic and political difficulties.
Prospects for increasing business
can be significant, but bring with it
a variety of operational and
financial risks, including
constraints on working capital,
unacceptable concentrations of
accounts receivable and payment
defaults.
Type of Vehicle
Type of Policy
Note:
2 Extra premium will be charged for electrical fittings, CNG unit, LPG fuel
. tank, Fibre glass tank and Trailer attachment.
4 Concession will be given for laid up vehicle, use of vehicle within Insured's
. premises and attaching side car for Two wheeler.
Articles
Education and Training in New India Assurance
FOR AGENTS:
FOR STAFF:
RTC and ZTC caters training to the employees under the zone/ region's,
from time to time. ZTCs generally conduct trainings on special topics for
which faculties are rare and even target- participants from one RO is not
sufficient for a programme.
FOR OFFICERS:
RTC, ZTC & CTC make their yearly calendar for regular training, and special
trainings on technological changes, departmental changes, for transfers
and promotions.
College of Insurance also caters to the needs of our officers of Mumbai &
Pune region. In the year 2002-03 , in 36 programmes 154 persons were
trained.
Ours being a International Company, our top executives and officers are
nominated for overseas training, around 10 cases per year.
Special training programmes and workshops in 2/3 batches per year are
also being organized at all India level at some outside venues.
FOR CUSTOMERS:
All Regional offices organise various workshops / seminars for their existing
and Prospective clients throughout the year at various hired places.
For computerization of all our offices and for manpower development, the
following trainings were conducted at various places in our Computer
Learning centres and other Training Centres.
Training at our centres by our faculties and hired faculties with rented
hardware.
CIRMS, Gurgaon
IIIF at Hyderabad
GICD, Mumbai
30th September,
Source: Financial Express
Non-life insurance markets in China and India are fast gaining importance in
the Asian region, the latest Swiss Re sigma study has concluded.
The study, titled "Asia's non-life insurance markets", has forecast a positive
outlook for non-life insurance in Asia, asserting that the outbreak of the
Severe Acute Respiratory Syndrome (Sars) early in 2003 had only
temporarily dampened market growth.
At the same time, the study observed, the corporate landscape and
competitive behaviour in the insurance industry were changing fast. After a
break in 2001, growth rates in the non-life insurance business resumed their
faster pace. Premia rose across the region with strong growth recorded in
most emerging markets. It expected growth to substantially exceed that of
most OECD markets. Nonetheless, it added, weak stock markets in 2001 and
2002 had taken their toll on insurers' capital bases, thus reinforcing the need
to focus on underwriting quality.
Japan is the 2nd largest non-life insurance market in the world, after the
USA. There are 32 Japanese companies and 21 foreign companies
operating in Japan. The market share of 21 foreign companies is just over
4.5%. There is only one company that has kept the flag of the Indian and
Asian insurance industry high for more than 5 decades in the highly
competitive market- The New India Assurance Co. Ltd.
Its gross premium income in 2002-03 was Yen 3.8 billion (Rs.153 crore),
which was 15 percent higher than the previous year. The company made a
profit around Yen 40 million (Rs.1.64 crore) during the year, all this despite
a nearly zero growth and zero interest economy and continuing recession
in Japan.
New India writes all classes of traditional non-life insurance business and
more than 95% of its business is derived from Japanese clients through its
agents network.
Corporate
Corporate Head office Address:
There are two policies: Motor Liability Only Policy and Motor Package Policy.
Top^
As per Motor Vehicle Act, it is mandatory to have Motor Liability only Policy
for covering Third Party.
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What is covered under Liability Only Policy ?
Owners' liability towards Third Party Personal Injury and Property Damage.
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This type of policy covers all the risks covered under Motor Liability policy
plus loss or damage caused to the vehicle due to:
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What are the exclusions under Package Policy ?
Driver being under intoxication, Vehicle being driven by a person not holding
an effective valid license, Damage to tyres (unless the vehicle is damaged
at the same time),Wear and tear and mechanical breakdown damages.
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What are documents required at the time of claim ?
Copy of claim intimation given to insurer with xerox copy of policy and
premium receipt, duly filled Claim Form, Driving License, Registration
Certificate of Vehicle, Estimate of repairs from repairer and stamped receipt,
Bills and Cash Memo of repairs, verification of road tax, Police
Panchanama/FIR, Permit and Fitness Certificate and any other documents
deem feet for the situation.
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What is Solatium Fund Scheme ?
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