National Insurance Company Limited

National Insurance Company Limited the leading public sector insurance companies in India was set up in 1906 with its headquarters in Kolkata. Initially National Insurance Company Limited became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India but later in 2002 after the notification of the General Insurance Business (Nationalization) Amendment Act, National National Insurance Company Limited has been de-linked from its parent company GIC and is presently operating as a Government of India undertaking.

National Insurance Company Limited (NIC) carries out non life insurance business. NIC has about 1000 offices, with more than 16,000 skilled personnel. NIC operates throughout the length and breadth of the country covering remote rural areas, townships and metropolitan cities. NIC has set up its branch offices in Nepal and Hong Kong. National Insurance Company Limited offers nearly 180 types of policies to almost 10 million policy holders. The paid-up share capital of NIC is Rs.100 crores.

Personal Line Insurance by National Insurance Company Limited covers individuals and property of individuals or groups of individuals and their liabilities. Personal insurance includes Accidents, Mediclaim, Critical Illness and Amartya Siksha Yojana. They also offer insurance of Householders? and Niwas Yojana. The Householder's policy includes the house of the individuals and the personal belongings of the individual. The policy covers for any loss or damage to the building due to fire, lightening, cyclone, earthquake, flood, terrorism and other allied perils. The National Insurance Company Limited covers loss or damage to jewelry and valuables. You have to obtain certificates for the items valued at more than Ra. 5000 each. The rate of premium for insuring your valuables are Rs. 10 per mille. For loss or damage of television sets and VCR/DVD due to burglary or fire or due to mechanical and electrical breakdown are also covered by National Insurance Company Limited. To avail such coverage the rate of premium to be paid is Rs. 10 per mille.

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