Page 56 - Insurance Times December 2018

Glossary Do you think the the low premium and high
Poll claims under Pradhan Mantri Insurance

Schemes should be reviewed and repriced to
make it viable
Yes
Results of Poll in our November 2018 Issue
No Do you think new proposed amendments in
Can’t say life insurance policies by IRDAI will help to
rationalise life insurance products

You may send your views to :
Creditor-Placed Auto Poll Contest, The Insurance Times Yes 95
Single interest or dual interest credit 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 05
Phone : 2269 6035, 2218 4184, 4007 8428
insurance that is purchased unilaterally Can’t say 00
Email: insurance.kolkata@gmail.com
by the creditor, who is the named
insured, subsequent to the date of the Fairfax to sell more stake in ICICI Lombard
credit transaction, providing coverage
against loss to property that would General Insurance
either impair a creditor's interest or Fairfax is looking to reduce its stake in ICICI Lombard General Insur-
adversely affect the value of collateral ance Co. Ltd and is likely to soon launch a block trade for the same
on automobiles, boats, or other according to sources.
vehicles.
Fairfax currently holds 9.91% stake in the listed general insurance
Creditor-Placed Home company, according to the stock exchanges. Fairfax's stake in ICICI
Single interest or dual interest credit
Lombard General Insurance is currently worth around Rs 3,600
insurance purchased unilaterally by the
crore. The insurer's market cap stood at Rs 36,373.8 crore, accord-
creditor, who is the named insured,
ing to stock exchange data.
subsequent to the date of the credit
transaction, providing coverage against
loss to property that would either Fairfax sold a 12.2% stake when the company went public last year
impair a creditor's interest or adversely in September, garnering Rs 3,601.50 crore.
affect the value of collateral on homes,
mobile homes, and other real estate. The IPO valued the general insurer at Rs 30,000 crore.
TEXTILE INDUSTRY CLAIMS EXPERT SURVEYOR

Leeds University (U.K.) qualified, Insurance surveyor, with vast Industrial Exposure, Chartered Engineer and com-
mercial textile dispute claim Arbitrator.
Available in Lucknow, with prior appointment, for discussing, issue-relating “Textile Industry claims” (Spinning,
Weaving, Processing, Knitting, Chemical Fiber Manufacturing, Garment Making, and allied fields).
Providing Survey & Expert Technical opinion in Fire, Spoilage, Marine-Cargo Transit damage, Engineering (IAR/MB/
EEI/CPM/CAR/Boiler Explosion/ EAR/MCE/SCE and other Insurance policies of Industry & Trade).

-: CONTACT :-
Er. N. C. MITTAL, FIE
Insurance Surveyor & Loss Assessor,
Chartered Engineer & Arbitrator (MICA)
21 Narain Bazar, 10-Lalbagh, Lucknow-226001
Mobile: 09415020798, Email: ncmgeneralinsurance@gmail.com

56 The Insurance Times, December 2018