Insurance Regulatory and Development Authority has given its nod to New India Assurance to offer two-wheeler insurance policy in the country. This will be the first policy offering from the company in its two wheeler segment. Insurance seekers across the country will have the option to buy two wheeler insurance from one of the trusted brands with respect to general insurance. According to this policy can buy a consolidated policy covering their two-wheeler for three years. The buyer will no longer be bothered to renew their policy every year will be significantly reduced.
As per the reports, the policy will be offered on a long term basis will also help reduce the number of uninsured vehicles on the road thereby assisting people in safeguarding their interests. As told by chairman of New India Assurance, Mr. G Srinivasan, the new policy is expected to be launched within this month. Regarding the pricing, he said they will announce the same while launching the policy. He was present and speaking while announcing country’s third quarter results and felt very enthusiastic for the future as company performed extremely well in tough conditions. The company’s net profit saw a rise of 42 % from the previous year and stood at 996 crore INR.
(Source: This article has been adapted from the article "New India to offer 3-year bike cover" that appeared on February 05, 2015 in timesofindia.indiatimes.com)
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