What do you mean by general insurance in India?
General insurance covers home, your travel, vehicle, and health (non-life assets) from fire, floods, accidents, man-made disasters, and theft. Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.
When did general insurance Act passed?
The 1972 Act set up the General Insurance Corporation of India (GIC). The businesses of the companies nationalised under the Act were restructured in four subsidiary companies of GIC: (i) National Insurance, (ii) New India Assurance, (iii) Oriental Insurance, and (iv) United India Insurance.
What is the purpose of general insurance?
General insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us.
Who regulates general insurance in India?
Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
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insurance regulatory and development authority of india www irdai gov in/ADMINCMS/cms/Uploadedfiles/Regulations/Consolidated/CONSOLIDATED 20HEALTH 20INSURANCE 20REGULATIONS 202016 20WITH 20AMENDMENTS pdf Provided further notwithstanding the provisions of Regulation 4 (b) of these Regulations Life Insurers may offer Group Health Insurance Policies as specified
[PDF] The Insurance Act 1938 broadly provides the ground rules for the
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