|The New India Assurance Co. Ltd. was established by Sir Dorab Tata in 1919. The New India Assurance is the first fully Indian owned insurance company in India. New India is the largest non-life general insurance company the various Indian Insurance Companies. It has not restricted itself to insurance only but to other fronts right from insuring the first domestic airlines in 1946 to satellite insurance in 1990. Lately The New India Assurance Co. Ltd. has insured the INSAT-2E. With a wide range of policies New India is one of the leading insurers in the Afro-Asian region. The New India Assurance Co. Ltd. is a leading global insurance group, with offices and branches throughout India and various countries abroad. In India the company has 1068 offices, comprising 26 Regional offices, 393 Divisional offices and 648 branches. The company has its presence felt in nearly 27 countries. The New India employed approximately 21000 employees specialist and technically qualified personnel at all levels of management. Government of India is the principal shareholder of the company.
The chairman and managing director of the company is Mr. B. Chakrabarty.
The New India Assurance Co. Ltd complies with the Business Insurance Law and Law to Sales of Financial Products and other related rules and regulations. It maintains the customer's desires and needs. The New India Assurance Co. Ltd welcomes customer feed in pursuit of improving their sales activity. The company's policy is based on ?Law related to Sales of Financial Products?. The home insurance policy of The New India Assurance Co. Ltd covers for a damaged property. In ocean and marine insurance the sum insured is in return to the transfer of all rights and interest from the insured to the insurer. Surrender of damaged property to an insurer is permitted to a total loss of claim has to be made.
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