Page 56 - Insurance Times October 2019

Poll Vehicles Act will reduce accidents and
Glossary Do you think recent announcement in Motor

decrease motor claims?
Yes Results of Poll in our September 2019 Issue

No Do you think the merger of public sector
companies must be expedited to consolidate
Can’t say business and reduce losses

Equity Indexed Annuity You may send your views to :
A fixed annuity that earns interest or Poll Contest, The Insurance Times Yes 70
provides benefits that are linked to an 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 20
Phone : 2269 6035, 2218 4184, 4007 8428
external reference or equity index, Can’t say 10
Email: insurance.kolkata@gmail.com
subject to a minimum guarantee.
IRDAI allows insurers to collect health insurance
Errors and Omissions Liability |
Professional Liability other than premiums in instalments
Medical The IRDAI has recently stated issued a circular which allows general and
Liability coverage of a professional or standalone health insurers to collect premiums in installments; earlier, these were
quasi professional insured to persons collected on an annual basis.
who have incurred bodily injury or
“Every consumer industry has seen a jump in sales with the availability of easier
property damage, or who have payment options. Relaxed premium frequency options, especially monthly pre-
sustained any loss from omissions mium, is a great boon for customers and will increase the adoption of health
arising from the performance of insurance, as well as empower people to buy larger covers. Annual premiums
services for others, errors in judgment, significantly burden the wallet of a common man, especially the salaried class,
breaches of duty, or negligent or resulting in them either postponing their purchase or buying lower covers than
wrongful acts in business conduct.
required. Senior citizens who are facing a significant hike in premiums will also
Event Cancellation get some relief," said Mahavir Chopra, director, health, life and strategic initia-
Coverage for financial loss because of tives, Coverfox.com.
the cancellation or postponement of a Other than this, the regulator has also allowed insurers to undertake minor
specific event due to weather or other modifications in approved individual insurance products on a certification basis
unexpected cause beyond the control without waiting for IRDAI's approval.
of the insured.

SELECT E AUCTIONEER PVT LTD

“Your Salvage Disposal Partner”

We manage entire process of salvage sale including: Market making, EMD management,
buyer inspection, e Auction, Lifting Supervision, Comprehensive Reports with all back up
documents (Bid Results, Participation list, Weighbridge Slips, Email Correspondences,

salvage sale Invoice, newspaper notice etc.) All types of salvage disposal across India as
per CVC, GIPSA and Insurers Guidelines.

Contact 09911999047, 09871456847, bid@eauctioneer.in
301-302, Samrat Bhawan, Ranjit Nagar Commercial Complex, New Delhi-110008

56 The Insurance Times, October 2019