L&T General Insurance

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Incurred Claim Ratio - 86*
*Data according to IRDA Annual Report (2013-14)

L&T General Insurance Company Overview:

L&T General Insurance Company Limited (L&T Insurance) is a wholly owned subsidiary of Larsen & Toubro Limited. It was founded by two Danish engineers Soren Kristian Toubro and Henning Holck-Larsen in 1938. The L&T General insurance company has business interests in construction, information technology, engineering, manufacturing goods, and financial services. It is now one of the largest and most respected companies in India’s private sector. K. Venkataramanan is the Chief Executive & MD of L&T General Insurance Company Limited.

Endowed with prestigious awards, the general insurance provider delivers affordable insurance services to its customer.

Larsen & Toubro Limited was listed in the 2009 issue of Forbes “World’s Most Reputable Companies”. Later, the company was ranked as 14th in 2011 by the Economic Times in their survey of the Top 500 Companies in India. In 2012, Forbes ranked L&T as 9th most innovative company in the world. L&T Power received 'Golden Peacock National Quality Award – 2012' at the 23rd World Congress on Leadership & Quality of Governance in 2013.

L&T General Insurance Product Portfolio
L&T Health Insurance Plans:

You go for exercises, stay on diet food, and eat only organic food, all this and more to keep you fit and healthy. Now, add one more thing to your health basket and you will be sorted – a health insurance or medical insurance plan. Yes, it is a must! Remember to compare and buy the one that suits you best.

  • my:health Medisure Prime Insurance: This L&T Insurance plan is a feature rich product that comes with a service guarantee to ensure your family’s health. It focuses on understanding a family’s unique health needs and provides a plan to protect against any expenses. The sum insured amount ranges from Rs. 3 to 10 lakh in multiples of 1 lakh.
  • my:health Medisure Classic Insurance: The my:health Medisure Classic Insurance plan is a carefully designed insurance solution that understands your family's unique health needs and provides a step-wise plan to ensure their complete well-being. This health insurance policy offers a lifetime renewal benefit. L&T General Insurance offers a claims service assurance that promises quick claim processing. The policy does not require any medical tests for people below the age of 50 years and who have no adverse history of illnesses or medical conditions.
  • my:health Medisure Super Top Up Insurance: The top up insurance plan works alongside your current health insurance policy and enhances it to provide a larger cover at a much lower premium. You can opt for this policy even if you do not have an existing health insurance policy. The affordable policy requires no medical tests up to the age of 55 years if you do not have any existing illnesses.
  • my:health Medisure Plus Insurance: This L&T Insurance policy is a thoughtfully designed insurance solution that is tailor-made to your unique health requirements. The L&T General Insurance plan covers all possible aspects to protect your health and also offers unique features such as guaranteed response times, cumulative bonus, and health check up benefits. The custom insurance policy offers a choice of covers based on your individual needs.

L&T Car Insurance Plans:

L&T Insurance plans provide protective covers that offer complete comprehensive cover which includes both third party cover and own damage cover.

  • my: asset Private Car Package Policy: The my: asset Private Car Package Policy is a comprehensive plan and offers a wide range of optional covers and deductible choices based on individual requirements. This car insurance policy from L&T General Insurance covers your car from all possible dangers whether man-made or natural. The overall cover depends on the Insured Declared Value (IDV) of the car and the optional or additional covers you have taken.
  • my: asset Private Car Liability Only Policy: This L&T Insurance is a third party liability policy and protects the owner of the car against damages sustained by any third party from the insured vehicle. It does not insure against any damages suffered by the occupants inside the car or liabilities arising from them or against any damages to the car itself.
  • my:jeevika Commercial and Miscellaneous Vehicles Package Policy: This L&T Insurance policy has been specially designed for commercial vehicles that serve as the assets for a business. The policy aims to protect the business owners against any losses that may occur due to an accident or damage to the vehicle. Optional add-on covers are available to suit specific industries and requirements.

L&T Two Wheeler Insurance Plan:

It would be best to buy two wheeler insurance to protect yourself from the liabilities that may arise because of two-wheeler theft or accident. A two-wheeler insurance plan is a comprehensive protection plan that will reduce your financial liability to the minimum in case a mishap takes place.

  • my: asset Two Wheeler Liability Policy: The policy is meant to protect the owner from any damages or liabilities arising from third parties. The owner can also take on additional covers to pay for damages to the two wheeler or to protect against damages to the occupants.

L&T Personal Accident Insurance Plans:

Personal accident plans from L&T General Insurance Company offer protection and many financial benefits to the insured and his family in the event of an accident or death. The benefits offered include compensation for a physical loss (death or disablement) due to an accidental injury within a period of 12 months from the date of the accident and an annual increase of 5% in the sum insured on every renewable.

  • my:health Personal Accident Insurance: The policy protects against any mishaps that may occur and lead to bodily injuries and even death. It offers financial compensation as well as additional benefits to take care of the living expenses of the insured party or surviving family members

L&T Home Insurance:

A house is the most prized material possession of a man. It takes years of hard work and toil to buy your dream house. So why not protect it? Home insurance protects your house against damage from fire, smoke, storms, vandalism, theft and other hazards. It’s recommended to get your home insured, so that not only you but your generations to come are able to enjoy home, which you built through sheer hard-work.

  • my:asset Insta Home Insurance: The my:asset Insta Home Insurance policy offers on-the-spot cover for complete protection of homes and belongings. Premium calculations are transparent and the process of buying a policy is quick, hassle-free and seamless. One can choose from a range of insurance premium as per individual needs. There is a choice of 4 sub-plan options, all of which have fixed sum insured and fixed price.
  • my:asset Primary Home Insurance: The my:asset Primary Home Insurance plan contains pre-approved value-added features making it an absolute and complete protection for one’s home and everything considered valuable. The policy offers a choice of 11 different covers to protect your home and belongings. You can simply choose from a range of insurance premium amount as per your needs.
  • my:asset Premium Home Insurance: L&T General Insurance’s my:asset Premium Home Insurance plan offers complete protection to you home and all valuables. It provides a total of 28 different covers to protect the house and its belongings. The options available allow insuring one’s lifestyle and everything one values.
  • my:asset Super Home Insurance: The my:asset Super Home Insurance plan can be bought over the phone without any documentation hassles, considerably reducing the time to purchase a policy. The plan gives a choice of 20 different covers to protect the home and the belongings inside. A wide range of insurance amounts are available and can be chosen as per individual requirements.

L&T Corporate and Commercial Insurance

L&T also offers a range of policy covers for the corporate sector. These include covers for protection against burglary, housebreaking, electronic equipment, machinery breakdown, etc. The company also offers group health insurance policies.

  • my:jeevika Personal Accident Micro Insurance
  • my:jeevika Cash@hospital Micro Insurance
  • my:jeevika Medisure Micro Insurance
  • Standard Fire & Special Perils Insurance                
  • Machinery Breakdown Insurance
  • Electronic Equipment Insurance
  • Burglary and Housebreaking Insurance                 
  • Contractor's All Risks Insurance
    Erection All Risks Insurance        
  • Contractor's Plant & Machinery Insurance
  • Combined Public and Product Liability Insurance                              
  • Commercial General Liability Insurance                 
  • Marine Cargo Insurance               
  • Public Liability (Act) Insurance
  • Workmen's Compensation Insurance
  • Neon Sign Insurance
  • Plate Glass Insurance

L&T SME Insurance

L&T General Insurance brings a range of general business insurance solutions for the SME sector.

  • my:business Commercial Establishment Insurance
  • my:business Hospitality and Leisure Insurance
  • my:business Retail Establishment Insurance
  • my:business Educational Institution Insurance

It is advisable to compare all L&T General Insurance plans from other General insurance companies in India to choose the best insurance plan that suits you the most.

L&T General Insurance - Latest News

  • HDFC Voices Intentions of Purchasing L&T General Insurance

    Housing Development Finance Corporation, a leading financial institution in India, has voiced intentions of purchasing Larsen & Toubro General Insurance, one of its competitors. This move by HDFC, considered to be a leading mortgage provider, is seen as a move towards potential consolidation of India’s insurance sector. L&T General Insurance is a relatively small competitor of HDFC and the takeover bid is still expected to take a few months to materialize. If this acquisition is completed, HDFC Ergo, the general insurance brand of HDFC is expected to gain a competitive advantage against its key competitors such as ICICI Lombard, National India, United India, and New India Assurance. Larsen and Toubro General Insurance Company initiated its operations in 2010-2011 and currently operated 15 branches across India. During the 2014-2015 fiscal, L&T General Insurance recorded gross premiums of Rs. 331 Crores with retail health insurance and motor insurance driving its business.

  • L&T to sell its 49% stake in insurance division

    L&T or Larsen and Toubro, the engineering and infrastructure company has plans to divest its 49 per cent stake from its general insurance armand sell it to a foreign company. The companies are expected to close the deal within upcoming 3 to 6 months.

    L&T General Insurance Company is one among the very few insurance companies in the market without a foreign partner. It is solely owned by Larsen and Toubro.

    An official from the company said, this sale of stakes is majorly focused at raising additional capital from the market. He also said that the company has been doing the same alone so far and is targeting to bring in an overseas partner to handle underwriting and technological aspects.

    Sources have claimed that L&T might get about Rs. 600 crore if its stake is sold at five to six per cent of its assets under management. L&T MF is also planning to improve its distribution spread and is expected to sell some stake to a domestic bank.

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