The New India Assurance Company is basically a multinational insurance company of the general insurance industry. It is a state-owned insurance company which is entirely owned by the Indian government. The company is based out of Mumbai and running its business in 28 different countries all over the world. The New India Assurance is a leading firm of general insurance industry.
The company was founded on 23rd July, 1919 by Sir Dorabji Tata. After 5 years of successful operations, it got nationalized. New India Assurance is popular for its extensive operations in the insurance industry in India. It owns around 2097 offices out of which 1041 are micro branches. Currently, there are around 50000 insurance agents out of which 19000 are employed by the insurance company. The company is providing a great level of service to its consumers. The New India assurance caters into almost every aspect of the general insurance industry and it provides around 170 insurance products. It provides effective plans so that it can meet the consumers’ need easily. Apart from the basic plans the company also caters into micro, rural and social sector among others. As it is a government insurance company, you can easily apply for government-linked policies.
New India Assurance Stats
The company has started its venture in 1919. At present, the company has its presence in 28 different countries that includes branches, agency, offices, associates and much more. It also has share in many different companies which are located in Singapore, Jordan, Kenya, and Saudi Arabia among others. The company is limited for past 95 years. It also has its business in Japan and Mauritius.
The New India Assurance also has subsidiary agencies. One of them is in Lagos, Nigeria, which is known as Prestige Assurance Plc and the opposite subsidiary is positioned in Trinidad & Tobago. New India is also a stakeholder in a Saudi Arabia-based insurance enterprise known as WAFA Insurance. A number of the other insurance corporations where New India Assurance enterprise holds share includes, Kenindia Assurance Co Ltd positioned in Nairobi, India International Insurance Pte. Ltd situated in Singapore and Asian Reinsurance Enterprise.
In 2014-15, the company did a business of Rs. 15149.50 crores in India whereas its global business touched Rs. 18371 cr. General asset of the brand New India Assurance enterprise becomes Rs.61720 Cr. As on 31st March 2014. It is the only general insurar in india that rated A by AM-Best and AAA/Stable rating by CRISIL in view of the stable performance shown by the company over the years.
The New India Assurance Company has widespread insurance network in the entire Afro-Asia region except for Japan.
New India Assurance – Products & Services
New India Assurance Private Car Insurance Policy
New India Assurance Two Wheeler Insurance Policy
Personal Products
Life is good when things go perfect. However, many a times things get tangled with a single twist of fate. Though you cannot stop destiny from playing its part, you can definitely cover yourself and your family from suffering the ‘after-effects’. New India Assurance gives you a wide range of policies with which you can make provisions in affordable prices.
- Mediclaim Policy
- Pravasi Bharatiya Bima Yojana Policy
- Personal Accident Policy
- Householders Policy
- Motor Policy
- Money Insurance
- Rasta Apatti Kavach (Road Safety Insurance)
- TV/VCR/VCP Insurance
- Mobile/Cellular Phone Insurance
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Other Personal Insurance
- Baggage Insurance
- Birthright Insurance
- Pedal Cycle Insurance
- All Risk Insurance
- Gun Insurance
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Commercial Products
Commercial establishments face various risks like fire, theft, burglary, etc. It is difficult to come out of massive loss and liabilities unless you are insured. So, cover your establishment with a suitable insurance policy and stay tension-free.
- Jewellers Block Policy
- Bankers Indemnity Policy
- Shopkeepers Policy
- Marine Cargo Policy
- Plate Glass Insurance
- Special Contigency Policy
- Neon Sign Insurance
- Multi Peril Policy for L.P.G. Dealers
- Fidelity Guarantee Insurance Policy
- Marine Hull Policy
- Aviation Insurance Hull All Risk Insurance Policy Spares All Risk Insurance Policy Hull/Spares War Risk Insurance Hull Deductible Insurance Aviation Personal Accident (crew member) Insurance Loss of License Insurance:
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Industrial Products
Industrial products are major investments and any accidental events can lead to huge losses. Given below are the policies offered by New India Assurance for industrial products:
- Fire Policy
- Burglary Policy
- Machinery Breakdown Policy
- Electronics Equipment Policy
- Consequential Loss Policy
- Contractors All Risk Policy
- Marine cum Erection / Storage cum Erection Policy
- Advanced Loss of Profit / Delay in Startup Policy
- Contractor Plant and Machinery Policy
- Mega Package Policies Large Risk Policies Project Insurance
Stand-Alone Terrorism Cover
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Liability Products
Liability of compensating a third party due to accidental death, injury or damage or any other reason can be well taken care of by liability insurances. To this end, NIA offers:
- Public Liability Policy
- Products Liability Policy
- Professional Indemnity Policy
- Directors and Officers Liability Policy
- Lift (Third Party) Insurance
- Employers’ Liability Policy
- Carrier’s Liability Insurance
- Liability Insurance Act Policy
- Golfers Indemnity Insurance
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Social Products
New India Assurance offers a range of products aimed at benefitting the weaker sections of the society. These policies facilitate the development of the policy holders and contribute to their general upliftment.
- Universal Health Insurance Scheme
- Jan Arogya Bima Policy
- Raj Rajeshwari Mahila Kalyan Yojana
- Bhagyashree Child Welfare Policy
- Janata Personal Accident Insurance
- Student Safety Insurance
- Ashrya Bima Yojana
- Rural Insurance Cattle Insurance Sheep & Goat Insurance etc.
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