Page 5 - The Insurance Times September 2022

ICICI Lombard offers mo- for the end customer as these add-ons est rates further so that all the stake-
would precisely give them an idea of holders are benefitted, the ministry
tor cover linked to driving
the coverage and incentivise both said, adding that the enhanced cover
ICICI Lombard General Insurance has good driving and distance run with percentage shall be made available to
launched a motor insurance cover lower premiums. SBI as per the previous year's premium
where the premium will depend on the rate in view of its favourable claim pre-
quantity and quality of driving. The mium ratio.
ECGC launches enhanced
company has also introduced a motor
floater cover that provides the advan- insurance cover for export-
UP widow battered to
tage of adding all vehicles owned by
ers
the proposer in one policy. death over insurance
Export Credit Guarantee Corp. of India
The Motor Floater offer for its custom- money
(ECGC) introduced a new scheme to
ers is in line with the recent announce-
provide enhanced export credit risk A 30-year-old woman, who had been
ment by regulator IRDAI. It will enable
insurance, amid heightened uncertain- resisting attempts by her in-laws to
those individuals owning multiple ve-
ties in global trade. hand them over the insurance corpus
hicles to ensure their vehicles, includ- she was about to receive for her
The scheme provides enhanced export
ing cars and two-wheelers, are under husband's death eight months ago,
credit risk insurance cover up to 90%
one policy with a single renewal date
was allegedly battered to death with
to support small exporters under the
and a comprehensive cover.
a hammer by her brother-in-law.
Export Credit Insurance for Banks
The pay-as-you-use and pay-how-you-
Whole Turnover Packaging Credit and Police said Twinkle was struck on the
use plans use telematics to analyse the
Post Shipment (ECIB- WTPC & PS). head at least 10 times at their home in
extent and manner in which the insured
Panchvati Colony of Loni by her brother-
"By giving 90% cover to banks, we ex-
uses the vehicle. The company would
in-law Abhishek, who was arrested.
pect more small companies to get ex-
allow customers to choose from differ-
port credit from banks, benefiting Twinkle and Gaurav got married in
ent 'kilometre plans' depending on us-
these industries greatly. We expect 2017 and had three children. In No-
age. The customer will pay only to the
extent they use the vehicle. Under the banks to provide more concessions. vember last year, Twinkle lost Gaurav
The net effect will be a benefit to ex- - an engineer with a private firm in
pay-how-you-use plan, the premium
would change according to the insured's porters, involving a reduction in inter- Delhi - to a road accident.
driving behaviour, with cautious driving est rate," ECGC chairman M. Her mother Geeta, who lodged a po-
incurring a lower premium. Senthilnathan said at a press confer- lice complaint against Twinkle's in-laws,
ence.
According to ICICI Lombard executive alleged that her daughter was forced
director Sanjeev Mantri, the policies This new scheme will enable the banks to give them Rs 4 lakh compensation
will go a long way in ensuring addi- holding ECGC's WT-ECIB cover to ex- that she had received from Gaurav's
tional transparency and convenience plore the possibility of reducing inter- office after his death.
The Insurance Times, September 2022 5