Insurance News on General Insurance

Liberty Videocon General Insurance Company to Achieve Its Biggest Target

06 Dec 2013, 06:38 PM  by   1603 Views | Write a Comment »

Roopam Asthana, Chief Executive Officer at Liberty Videocon General Insurance Company, today declared the company’s performance report for the ongoing year 2013 - 14. He said that till now the company has successfully achieved a sales figure of Rs. 65 crores as against the budget of Rs. 120 crores for the entire year. The Company is also optimistic about the business for the remaining part of the year and expects to meet the budgeted amount of sales.


Breaking up the above, he said that 70% of...  Read More »

Posted in 2013 Highlights General Insurance

SBI General Insurance in association with SBT launches low cost health insurance

02 Dec 2013, 11:29 PM  by   2235 Views | Write a Comment »
Insurance News

With India having one of the highest out of pocket health care expenses in the world, Mr. Bhaskar J. Sharma – Managing Director and Chief Executive Officer at SBI General Insurance said that there is a need for a health insurance with is evenly priced and affordable for the mass people.

To cater to the above, SBI General Insurance in association with State Bank of Travancore (SBT) launched a low cost affordable health insurance plan for SBT customers. This plan, called SBI General’s Group...  Read More »

Posted in SBI General Insurance General Insurance

General Insurance sector sees aviation insurance with potential growth

13 Nov 2013, 11:32 AM  by   838 Views | Write a Comment »
Manik Nehra, Senior Manager – Aviation insurance at Bajaj Allianz General Insurance positively quoted that civil aviation is an up-and-coming segment in the general insurance sector. This sector will witness more industry players coming into the market as well as expansion by existing players. Tata SIA Airlines is one of the new big companies to start its operations next year.
Industry sources also believe on the above. An industry official also stated on the same lines, saying that aviation...  Read More »

Posted in General Insurance Others

Urban properties to mandatorily have disaster insurance

10 Nov 2013, 09:30 AM  by   758 Views | Write a Comment »

Mr. M. Shashidhar Reddy, Vice – Chairman on National Disaster Management Authority, at the foundational ceremony of the two – day seminar on risk management in Pune and based on his study on international practices suggested the mechanism of having a compulsory disaster insurance for residential properties in urban areas. 

He also suggested that insurance should be made mandatory for malls, theatres, hospitals and hotels.
Adding to the above, he said recommended that it should apply to all...  Read More »

Posted in Others General Insurance

SBI General Insurance posts hefty 83 percent growth during first 6 months

08 Nov 2013, 08:43 AM  by   852 Views | Write a Comment »

SBI General Insurance Company Limited, which is a joint venture between the State Bank of India and Insurance Australia Group, today announced its Half Yearly result for the financial year 2013 – 14. The company has posted a hefty growth of 83% rise in the premium amount as compared to the corresponding period previous year. The premium amount stood at Rs. 540.93 crores. The increase in premium amount was mainly attributable to rise in motor insurance business which grew by 136% during the six...  Read More »

Posted in SBI General Insurance General Insurance

Insurance coverage scope to be expanded to bring bariatric surgery within its ambit

01 Nov 2013, 08:02 AM  by   800 Views | Write a Comment »

Dr. Praveen Raj, Director at GEM Obesity and Diabetes Surgery Centre, said that obesity is now becoming an epidemic which is affecting one fourth of a world population including India. Further, bariatric surgery for obesity is considered as a cosmetic and not covered under the insurance coverage.


In order to bring this weight loss surgery including multiple effect on various diseases, under Insurance coverage Mr. Raj has approached Tamil Nadu Government. He argued that obesity could become a...  Read More »

Posted in General Insurance Health Insurance

Professionals covered under Indemnity Insurance

30 Oct 2013, 12:32 PM  by   826 Views | Write a Comment »

Some insurance companies like TATA AIG, HDFC Ergo, National Insurance Co. Ltd., ICICI Lombard and New India Assurance Co. Ltd. are providing Professional Indemnity Insurance to professionals. This cover helps professional to reduce the financial damage if the damage is caused to the victim is not intentional or willful neglect.


This type of insurance is designed to help insured against any claim that may be inforced against him or his company.  Mr. Pavanjit Singh Dhingra, CEO – Prudent...  Read More »

Posted in Insurance General Insurance

The modified national agriculture insurance scheme applicable at all stages of crop cultivation

25 Oct 2013, 03:28 PM  by   1704 Views | Write a Comment »

Special officer of Modified National Agriculture Insurance Scheme A. Antha, at an awareness program organized by the District Administration, said that the modified national agriculture insurance scheme which is applicable to paddy crop is an all inclusive scheme. It covers right from the pre - sowing stage to post harvest operations. 


Clarifying on the above, she said that if paddy could not be sowed or if the growth of the standing crop is badly affected or the output of the crop after...  Read More »

Posted in 2013 Highlights General Insurance

Future Generali bags insurance contract to insure Navratri festival

09 Oct 2013, 10:33 AM  by   862 Views | Write a Comment »

With Navratri festive season starting, many organizers have taken insurance claim to cover loss against any unforeseen events occurring. In one such case, Future Generali, who insures for films, TV serials and various events, has entered into a contract with Falugni Pathak’s Ta Thaiya Group – organized by Mangal Entertainment Private Limited to cover the insurance claim occurring on behalf of cancellation due to various reasons, terrorism and non appearance of various performers on account of...  Read More »

Posted in Future Generali General Insurance

General Insurance Company to issue Catastrophe bonds in United States

06 Oct 2013, 02:40 PM  by   822 Views | Write a Comment »
Board of Directors of General Insurance Company approved raising of funds through the issue of Catastrophe bonds in the United States. This bond, which will cover risk arising out of natural disasters like earthquake, flood, tsunami etc, will be issued at a price which will be 2% above the 10 – year US Treasury yield. Higher percentage of return is justified as this bond carry junk status and there is a possibility of investors losing their investments.
GIC will be the first Indian Company to...  Read More »

Posted in GIC General Insurance

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