Features of general insurance corporation of india
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There is a lot of information regarding this and so it will be a very big answer. I am keeping it short and giving just the general features.
The Government of India (GOI) had nationalized the complete business of general insurance in India via the General Insurance Business Act (GIBNA) in 1972. These insurance companies were grouped into four major operating companies, namely - National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and United Insurance Company Limited.
The most important features of the GIC that have been incorporated to benefit the poor and rural people are -
1. Personal account insurance
2. Social security scheme.
3. Hut insurance scheme.
4. Crop insurance scheme
Apart from domestic services, the GIC also operates internationally and it has become one of the leading companies in Singapore.
The headquarters of the GIC in India is situated in New Delhi, Kolkata, Chennai, and Mumbai.
The Government of India (GOI) had nationalized the complete business of general insurance in India via the General Insurance Business Act (GIBNA) in 1972. These insurance companies were grouped into four major operating companies, namely - National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and United Insurance Company Limited.
The most important features of the GIC that have been incorporated to benefit the poor and rural people are -
1. Personal account insurance
2. Social security scheme.
3. Hut insurance scheme.
4. Crop insurance scheme
Apart from domestic services, the GIC also operates internationally and it has become one of the leading companies in Singapore.
The headquarters of the GIC in India is situated in New Delhi, Kolkata, Chennai, and Mumbai.
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