Royal Sundaram Alliance Insurance Company, in an effort to further step up its service to customers, announced its integration with the centralized grievance redressal mechanism of IRDA.
 

Policyholders can now air their grievances through this Integrated Grievances Management System (IGMS) and keep a track of the same. The insurer promises to respond to insurance complaints, raised by unhappy customers within a specified timeframe.
 

IGMS is a standard platform to all insurance companies...  Read More »

New India Assurance has been directed by the UT Consumer Forum to settle Rs 9 lakhs in accident claims raised by widower whose wife died to electrocution.

In November 2008, Nazir Singh Bhullar had purchased an accident insurance policy of Rs 9 lakhs, after paying the premium amount and fees for medical tests, in the name of his wife Harinder Kaul. Unfortunately, in March 2009, Harinder Kaul died due to electrocution.

The claims raised by the widower were declined by New India Assurance....  Read More »

National Institute of Engineering (NIE) college authorities have decided to provide a comprehensive personal accident insurance cover to its students.

Starting this year, around 2,690 engineering students will get covered under an accident policy. The decision was made by the college authorities in the wake of a recent accident case. Srikanth Prabhu, a student of NIE met with an accident and suffered severe head injuries in April 10. He has been admitted to a hospital in Bengaluru and has...  Read More »

United India Insurance will be extending free personal accident cover for customers of State Bank of Hyderabad (SBH).
 

The free personal accident insurance cover of Rs 1 Lakh will be an add-on service given to existing as well as new savings account holders of SBH.

Speaking on the occasion, Renu Challu, Managing Director of State Bank of Hyderabad said that the bank had 8 million savings accounts, of which around 2 million were either not operational or no-frills accounts.

SBH will pay a...  Read More »

Future Generali is on a recruitment spree and is looking out for insurance agents and advisors in Maharashtra and West Bengal.

The company is aiming to recruit close to 4100 insurance advisors or agents Maharashtra this year. In West Bengal, Future Generali India Life Insurance Company is planning to recruit 3120 new insurance agents to sell life policies. At present in West Bengal, they have over 2900 advisors. With the addition of new recruits, their base will increase to 6050 advisors.

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Chola MS General Insurance received Best Insurance Company award for “in-time” claims settlement under Rashtriya Swasthya Bima Yojana Scheme (RSBY).  The award was presented by the Union Labour Ministry.

 
RSBY is the brain child of the Ministry of Labour and Employment, Government of India which was launched to provide health insurance to families that are below poverty line (BPL). Under this scheme the BPL families would have to pay only Rs 30 per annum to get health insurance benefits up to...  Read More »