General Insurance

Overview

Insurance Regulatory and Development Authority of India (IRDAI) vide its guidelines under IRDAI Regulations 2015 permitted entry of Banks into insurance business. As per IRDAI regulations 2015, our Bank has registered as corporate agent vide Certificate of Registration No:CA0204. Our Bank acts as Corporate Agent of the following Non-Life Insurance Companies.

M/s.United India Insurance Company Ltd
M/s.Cholamandalam MS General Insurance Co.Ltd
M/s.Kotak Mahindra General Insurance Co. Ltd.

for the purpose of soliciting and distributing Non-life insurance policies being offered by the above insurers.

Premium

Branches will collect the applicable premium from the policy holders and it will be remitted to the Insurance Companies Account.
No amount collected from the insured towards premium will be retained by us. It will be forth with transferred to the Insurance Companies Account..
In the solicitation of business, we will not unilaterally represent rates of premium different from those fixed or instructed by the insurance companies.

Policies

We will follow up with the insurer for issuance of policies and hand over them to the Policyholders.
Policy holders are advised to scrutinize the policies immediately on receipt by e-mail or hard copy.
We will also assist to identify any errors or discrepancies and will contact the Insurer immediately for necessary correction.
No correction, alternation or modification will be made by our Bank in the policies issued by the Insurance Companies.

Claims

Any intimation of claim received by us will be immediately forwarded to the respective Insurance Companies to facilitate commencement of claim process and handling.
The Claims will be considered for settlement strictly in accordance with the terms and conditions of the policy.
We will guide our policy holders about claim procedures under a policy including prompt intimation of loss, submission of claim forms and documentations to establish the claim, disclosure of all material facts and compliance with requirements that may be raised by the insurer or Surveyors/investigators.
We will not charge any fee or remuneration for providing assistance related to the settlement of claims to the Policy holders.

Grievances Redressal

We accept complaints over phone or in writing or through electronic mail and/or other modes of valid communications, as the case may be from our Policy Holders.
The policy holders can register their complaints either in the “compliant register” available with branch heads or drop their complaints in the “compliant drop box” available in branches.
We will take necessary steps for redressal of grievances of our policy holders within 14 days of receipt of such complaint after providing acknowledgement of the same.

Insurance Products Offered

We are soliciting and distributing following insurance policies being offered by the insurer

1.United India Insurance Company Ltd.:

Standard Fire and Special Perils Policy
Motor Insurance Policy
Health Insurance Policy – UNI Family Medicare Policy
Travel Insurance Policy
Personal Accident Insurance Policy
Householders Insurance Policy
Shopkeepers Insurance Policy
Marine Insurance Policy – Marine Hull, Marine Cargo
Industrial Insurance Policy – a. Contractors Plant and Machinery Policy b. Industrial all risk policy c. Machinery Break down Policy
Liability Insurance Policy
Other Miscellanies Insurance Policies.

2.Cholamandalam MS General Insurance Co.Ltd:

Standard Fire and Special Perils Policy
Motor Insurance Policy
Health Insurance Policy – UNI Family Medicare Policy
Travel Insurance Policy
Personal Accident Insurance Policy
Householders Insurance Policy
Shopkeepers Insurance Policy
Marine Insurance Policy – Marine Hull, Marine Cargo
Industrial Insurance Policy – a. Contractors Plant and Machinery Policy b. Industrial all risk policy c. Machinery Break down Policy
Liability Insurance Policy
Other Miscellanies Insurance Policies.

3.Kotak Mahindra General Insurance Co.Ltd:

Standard Fire and Special Perils Policy
Motor Insurance Policy
Health Insurance Policy – UNI Family Medicare Policy
Travel Insurance Policy
Personal Accident Insurance Policy
Householders Insurance Policy
Shopkeepers Insurance Policy
Marine Insurance Policy – Marine Hull, Marine Cargo
Industrial Insurance Policy – a. Contractors Plant and Machinery Policy b. Industrial all risk policy c. Machinery Break down Policy
Liability Insurance Policy
Other Miscellanies Insurance Policies.

Popular Searches