ICICI Lombard General Insurance announced the launch of unique motor insurance plan called road side assistance cover. This cover, which will be applicable to private car insurance policy holders, will be an add on cover, premium of which will start from Rs. 99 and onwards.
Mr. Sanjay Dutta, Chief of Underwriting and Claims at ICICI Lombard said that this add on cover will provide full assistance in case of exigencies like vehicle accident or breakdown. Adding to the above, he said that by adding this plan in their motor insurance policy, the customers will receive an utmost benefit and will help them in the hour of need.
The arrangements, among others, that will be made available under this add on plan is as under:-
- Arrangement of accommodation in case where vehicle of the insured is immobilized due to breakdown or accident.
- Arrangement of alternative means of transportation
- Arrangement of fuel
- Assistance to reach at the nearest repair works
ICICI Lombard is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited – a Canada based financial service company. It has a Gross Written Premium of Rs. 6,420 crores for the year ending March 2013. 74% of the shares of the company are held by ICICI Bank and remaining 26% are aheld by Fairfax Financial Holdings Limited.