Aristo Texcon, a private limited company, had its factory in Kolkata's Tangra Industrial Estate. A massive fire occurred on February 19, 2012. Here's what happened when they approached their insurer.
The National Commission observed that liability under the policy could neither be extended nor curtailed, but would be determined according to the terms of the contract
United India Insurance Company, National Insurance Company and New India Assurance Company will be reclassified as public category shareholders post requisite regulatory approvals
To further strengthen their financial health, the government is expected to infuse Rs 3,000 crore in the public sector general insurance companies during the current quarter
Under the scheme, while AIC will use offices, manpower and rural reach of the three companies, it will offer 12.5 per cent of the premium collected to each of the three companies
In an email interview, Girish Radhakrishnan says such an entity would have the muscle to control market behaviour and curb the "adventurous" marketing practices of private firms