National Insurance Company Ltd India, one of the leading public sector insurance company dealing with general insurance business. Their new and customized policies ensures the catering of even specialized insurance requirements of almost every sector or industry in the Indian Economy.
History:
National Insurance Company Limited India with its headquarters in Kolkata, was incorporated in 1906. After the passing of the General Insurance Business Nationalization Act in 1972, over 30 companies, both Indian and foreign were included with it. National Insurance Company India became a subsidiary of General Insurance Corporation of India (GIC) and after the General Insurance Business (Nationalization) Amendment Act, 7th August 2002, it was delinked from GIC and henceforth it is operating as a Government of India undertaking.
Today:
National Insurance Company India with its nearly 1000 offices offers easy insurance services to every part of the country from remote rural areas to townships and metropolitan cities. The company's foreign operational bases are in Nepal and Hong Kong. Presently, National Insurance Company India with its more than 180 policies caters the diverse insurance requirements of their customers. The gross direct premium income of the company has grown to 3523.67 crores rupees in the financial year 2005-2006.
National Insurance Company India has ties with commercial banks, Non Banking Financial Institutions, Automobile Manufacturers, NGOs and State Governments for marketing of its Insurance services.
Policies offered:
- Personal Line Insurance – insurance of person and property would include Personal Accident, Mediclaim, Critical Illness, Amartya Siksha Yojana , Motor Policy - Two Wheelers, Householders Policy, Niwas Yojana , Personal Liability, Professional Indemnity for a Doctor / Lawyer and others.
- Rural Line Insurance - insurance policies devised for the rural people and weaker section of urban society like Cattle / Livestock Insurance, Brackish Water Prawn Insurance, Sericulture Insurance, Horticulture/Plantation Insurance, Kisan Agriculture Pumpset Insurance and others.
- Industrial Line Insurance – these insurances covers various risks faced by the industry and are of two types, Project Insurance like Erection All Risk Insurance and Contractor's All Risk Insurance and Operational Insurance like Fire policy, Machinery Insurance policy, Electronic Equipment Insurance policy and Consequential Loss (Fire) policy.
- Commercial Line Insurance – the company offers different options to protect the commercial organizations against the loss of or damage to property and liability arising out of an action or inaction in the course of the commercial activity.
The leading credit rating agency of India CRISIL gave National Insurance Company India AAA rating. The company launched some new covers, PARIVAR – Mediclaim for Family, VIDYARTHI-Mediclaim for Students, UCO Medi + Care Bima Policy, Star National Swasthya Bima Policy, VARISTHA Mediclaim for Senior Citizens. National Insurance Company India , along with its Bancassurance scheme partner Bank of India launched a " BoI National Swasthya Bima" policy in 2007.
