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A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
What is general insurance?
Insuring anything other than human life is called general insurance. Examples are insuring property like house and belongings against fire and theft or vehicles against accidental damage or theft. Injury due to accident or hospitalisation for illness and surgery can also be insured. Your liabilities to others arising out of the law can also be insured and is compulsory in some cases like motor third party insurance.
worksite etc. OVERVIEW : TATA AIG general insuarnce is a joint venture between Tata Group and American International Assurance(AIA). provides insurance to individuals and corporates. marine. home.in : The company has more than 40 branches in 35 cities in India. 2001. Tata AIG General Insurance Company. The Tata Group holds 74 per cent stake in the insurance venture with AIA holding the balance 26 percent. property and casualty as well as several specialized financial lines. which started its operations in India on January 22. The Company's products are available through various channels of distribution like agents. It offers a range of general insurance products including insurance for automobile. energy.TATA AIG GENERAL INSURANCE COMPANY Type Industry Founded : : joint venture insurance : january 22 .2001 Headquarters : in Mumbai India Owner Website Branches : Tata Sons (74%) American International Group(26%) : tataaiginsurance. VISION : “To be India's most preferred General Insurance Company” . Digital Marketing. banks (through bank assurance tie ups) and direct channels like Telemarketing. personal accident. travel. brokers.
Rural insurance . VALUES : share a set of 6 core values Honesty Transparency Conduct our business fairly Integrity Trustworthiness Excellence Products of TATA AIG General Insurance 1. Health and accident insurance 3.MISSION : To emerge as the leading company offering a comprehensive range of general insurance To create unmatched value for our customers. employees. fair and transparent. business partners and shareholders by delivering remarkable service that is consistent. Office insurance 5. Home insurance 4. Motor insurance 2. Marine cargo insurance 6.
Motor insurance Introduction: You work hard to buy an automobile to enjoy your trips or may be to support your business needs. Key Features Covers all features as per the Motor Vehicle tariff: Loss or Damage to your Vehicle: Any partial or total loss to your vehicle arising out of accident or on account of fire and allied perils in covered. Discount (NCB) for claim free experience Predefined depreciation for the parts needing replacement on account of accident Benefits No deduction on count of Salvage value Direct Payment facility at garages (in limited locations) Faster Claim Settlement . But steering it around in today’s times is also risky. Third Party Legal Liability: Covers Third party property damage and Third party Bodily injury. which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your own two-wheeler. Hence it makes sense to buy a comprehensive cover to give you the all round protection. And you are aware the costs to get you vehicle repaired in the event of a damage or even replacing just in case it is stolen. can be huge. Any uncertainty can lead to damage resulting in huge losses. Tata AIG understands these needs and offers motor insurance products that provide the added protection for your vehicle that you so love. Tata AIG offers you a comprehensive insurance cover. Types of Motor Insurance Solutions: TWO WHEELER INSURANCE COMMERCIAL VEHICLE INSURANCE Two Wheeler Insurance Your two-wheeler (motorcycle or scooter) is perfect for your needs for quick mobility and convenience.
rail. Due to today’s hectic lifestyle. In today’s times of uncertainties. improper diet. lack of exercise we are at higher risk of contingencies of untimely serious illnesses. Predefined depreciation for the parts needing replacement on account of accident. burglary & theft. Fire & allied perils. Key Features Coverage for Partial Loss & total loss arising out of accident. Simple Process and easy documentation All India Claims Service network Faster Claim Settlement Health and accident insurance Introduction: Financial planning is incomplete without planning health insurance. Third Party Legal Liability: Covers Third party property damage and Third party Bodily injury. negligible physical activity and changing lifestyle our vulnerability to diseases is increasing at an alarming pace. but nowadays with increasing levels of stress. That is the offer from Tata AIG’s Commercial Vehicle Insurance. riots and strikes. Any damage to it can be a huge loss to you. you need a comprehensive insurance cover which not only covers you for the liability arising out of the Third party but covers you against the loss or damage to your vehicle. Sudden health problems could have deep hole in your pockets. . There’s a definite need to cover for health insurance to reduce the financial burden. Good health is the most valuable asset that we have. road and sea. Benefits Privilege Claims Service for Fleet owners insuring 25 vehicles or more Service for direct settlement at all manufacture authorized workshops Spot survey if vehicle is immobilized. Discount (NCB) for claim free experience. damage in transit by air. 24 X 7 Contact centre for lodging claims and all queries Commercial Vehicle Insurance Your vehicle is most critical to your business.
Accidents. You may not be prepared for it. Key Features A Daily Cash benefit which takes care of any unexpected financial burden in case of hospitalization. post discharge expenses. Sickness Hospital Cash: It takes care of hospitalization expenses due to sickness.The cost of healthcare is rising everyday and more than the cost of your treatment. spouse and two dependent children between the age of 6 months and 18 yrs or upto 23 yrs if studying in an accredited institution of higher learning and is unmarried) The Coverage can be renewed till age of 50 Years Benefits 1. No Medical Examination required Hospitalisation Cash upto 180 days in case of Accidents or Sickness Premium paid is eligible for tax exemption under Sec 80D of IT Act. nursing expenses. 50% in case of each child . Guaranteed issuance. indirect costs like . recuperating expenses. available upto Rs. 1 day deductible and 90 days waiting period for Sickness Hospital Cash 5. Lack of sufficient savings or a suitable health policy may force you to compromise on the quality of medical treatment. Coverage will be 100% of the Coverage amount in case of Insured and Spouse. additional 5% on the original benefit amount upto max 5 yrs. Life's journey takes you through many twists and turns. Any individual between the age of 18 to 50 years and Includes self. Deductible of 5% of benefit amount for Accident Medical expense reimbursement 6. mishaps and other adverse situations bring along dire consequences. 4. Accidental Hospital Cash: You can also opt for accident hospital cash benefit which takes care of incidental expenses while in hospital due to accidents.hospital room rent. but you have to face it. They can leave a dent on your life both emotionally and financially. upto Rs.10000/day 3. ambulatory charges etc account for a major part of the overall cost incurred. if you are not prepared for it. 5000/day 2. No Limitation on Hospitals Renewal benefit: On renewal of policy. Accident Medical Expense Reimbursement: This benefit takes care of reimbursement of day to day medical bills due to accidental injuries with or without hospitalization.
It also protects against manmade threats like terrorism. inundation. While you may love what you have created. Key Features Easy and Instant. Impact damage by any Rail/Road. thunderstorms. Strike and other kind of damages Benefits Fire and Special Perils: Protects home structure as well as contents against fires. floods. After all. Audio & Audio Visual Appliances: This is a Comprehensive cover against loss/ damage to your Audio/AV appliances at home due to fire and allied perils. A home that they could call their own. riots and strike Public Liability: Protects your guests or any third party against any damage caused to them or their property in the insured’s home. it is important to ask yourself one question: "Have I . win business. Accidental external means. Mechanical and electrical breakdown. etc. earthquakes. Burglary/theft. legal liability. Breakdown of Domestic Appliances: This cover protects against Mechanical &/or Electrical Breakdown to other domestic appliances at your home Office Insurance You have been an active participant in the rapidly growing Indian economy. Tata AIG realises the need and has designed a variety of home insurance products that cater to everyone’s home insurance needs. lightning. storms. With your sheer hard work you have built this business that is reaping benefits for you in the consumption era. cyclones. homes are not built everyday. It’s only understandable that you should want to secure your most important asset from any possible kind of natural or manmade catastrophe. longer and saved every penny to give yourself and your loved ones the security of a home. handle staff and manage administration.HOME INSURANCE You worked harder. vehicle or animal by direct contact(excluding damage by own vehicle) Riot. You work around the clock to keep ahead of competition. No Documentation Flexible – lets you decide the premium that you want depending on the coverage amount you choose Offers a burglary cover for jewellery Fire & Allied Perils includes earthquake & terrorism as per tariff.
destruction or damage to the accompanied personal baggage of the Insured .t. earthquake. riot. printers. damage to property etc. malicious damage. typhoon. bank drafts. UPS) e. computers. cyclone. money orders. bank notes. currency notes / coins. burglary. cheques. Subsidence and landslide including rockslide Bursting and/or overflowing of water tanks apparatus and pipes Missile testing operations Leakage from automatic sprinkler installations & Bush fire Benefits Money in Safe: Covers loss of money (cash. treasury notes. tempest hurricane. fire. postal orders.ever thought of insuring it against the threats that may impact my earning?" Tata AIG offers a complete insurance package that has been specially designed keeping in mind the insurance needs of your business. strong room or cash box securing money Electronic Equipment: Covers electronic equipments (e.c. fax. flood and inundation Impact damage due to rail road vehicle or animal not belonging to insured. Tata AIG's Office Insurance is a one touch insurance solution that covers you and your business from threats like..g. o o o o o o o o o o Standard Fire and Special Perils: Covers your property against loss or damage due to Fire Lightning Explosion / Implosion Aircraft damage Riot strike and malicious damage Storm. tornado. current postage and revenue stamps) belonging to the business of the insured whilst securely kept in the insured premises and loss or damage to any safe. against any unforeseen sudden physical loss or damage unless excluded specifically Money in Transit: Covers loss of money belonging to the business of the insured whilst in transit between the business premises and / or premises of insured's bankers and / or locations or specified Public liability: Protects You against your legal liability in respect of accidental bodily injury to third parties and or accidental loss and /or damage to property belonging to third parties Plate Glass: Covers loss or damage to the Plate glass completely and securely fixed in the insured premises by accidental means Baggage: Covers loss.
This local expertise ensures that we are able to guide and issue covers keeping in mind the local regulatory concerns while our worldwide presence ensures that we are perfectly placed to respond swiftly and effectively in dealing with losses as and when they may occur Financial Strength: The combined might of Tata Group and AIG coupled with strong reinsurance treaties ensures that you are in safe hands. Cargo Insurance covers transits by: Water Air Road or Rail Registered Post Parcel Courier Or any combination of the above. Our products considerably widen the scope of coverage presently enjoyed by the insured population without necessarily involving a high premium..e. in a majority of instances. Reconditioning Costs. Marine Cargo Policies are based. Forwarding Expenses. .Marine Cargo Insurance Tata AIG combines Tata Group's pre-eminent leadership position in India and AIG's global presence as one of the world's leading marine cargo insurance company to India a wide range of marine cargo products from various international markets. on one or more of the Institute Cargo Clauses. We complement our wide coverage with advices on Risk Management and Loss Preventions. Partial Loss by an insured peril General Average Collision Liability Expenses such as Survey Fees. The coverage available under these standard clauses include: Actual Total Loss Constructive Total Loss Particular Average i. Sue and Benefits Global Presence:With AIG’s presence in more than 130 countries we are truly a global network but with local expertise.
Our Marine Loss Control Engineering (MLCE) can assist you in identifying potential hazards in your supply chain. a large corporate house or a Multi National Corporation. Key Features o o o o o o 84 sales offices across the country covering all major cities of India Network of affinity partners. Backed by a dedicated helpdesk. Emarine makes 24x7 insurance actually possible. Stock Throughput or the standard Marine Open Policy. property or livestock. Tata AIG offers a variety of Rural Insurance products covering risks of this nature. Our Emarine is a unique and simple tool. develop loss prevention guidelines and help you implement loss control and quality improvement programmes. Innovative Yet Simple Products:Sales Turnover Policy. importer.Benchmarks of general insurance sector: Mobile claims service Toll Free Helpline service Settled over 500. Tech Advantage: We are the pioneers of online issuance of marine certificates in India.a small exporter. Knowledge: We are the only company to have a dedicated team of marine cargo underwriters. a SME. manufacturer. trader.MLCE:Specialized products need extra handling. Flexibility:Our knowledge and expertise allows us to customize policies to suit your needs.000 claims Claims registration & policy renewals by SMS Direct payment to garages for auto insurance Web-based instant policy issuance Motor insurance We offer insurance covers for the following automobiles used by Rural India: . There is a growing need for the Rural mass to be educated on insurance solutions that will help them take care of the risks be it their automobiles. health. Rural insurance Rural India is often faced with risks linked to lifestyle of people living there. brokers & over 2250 dedicated agents to service customers Tata AIG Firsts. We have something for everyone .
Storm. for captive use Commercial Vehicles: Coverage for Goods Carrying vehicles – various makes and models of vehicles upto 25 tonnes Passenger Carrying vehicles . vehicle or animal Subsidence and landslide including rockslide Bursting. overflowing of Water Tank and Pipes Missile Testing operations Leakage from Automatic Sprinkler Installations Bush Fire Flood. o o o Tractors: All makes & models of Agricultural tractors / Trailers/ Trolleys/ Implements Two Wheelers: All makes & models of Scooters & Motorcycles Private Care: Vehicles privately owned. Road. Inundation etc Earthquake Livestock (Cattle) Insurance We provide comprehensive insurance cover for cattle against death due to: Diseases Accidents Natural calamities Riots. terrorism Permanent loss of milk yielding capacity due to disease . Strike and Malicious damage Impact damage by Rail. for captive use 3-Wheelers : Passenger vehicles and goods carrying vehicles Property Insurance They offer insurance covers for the following in Rural India: Home Shops & Outlets Schools Machinery (Pump sets) Covers Loss or damage to building & contents against: Fire Lightning Explosion/Implosion Aircraft Damage Riot. Malicious damage.Vehicles privately owned.
loss of sight & hearing) Disappearance (where body cannot be located) Emergency Accident Medical Expense Repatriation of Remains / dead body Permanent Partial Disability Accident Hospital Cash Permanent Total Disability Tuition Benefit (Education Benefit) .Personal Accident Insurance Our Personal Accident insurance for the Rural population covers the following: Accidental Death (10% of Sum Insured for < 17 year old) Accidental Dismemberment (incl.
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