Page 56 - Insurance Times March 2019

Glossary
Poll Health Insurance by IRDA will help to promote
Do you think launching of Standard Policy for

sale of health insurance policy in India
Yes Results of Poll in our February 2019 Issue

No Do you think Risk Management education
and awareness needs a big boost
Can’t say

You may send your views to :
Dental Insurance
Poll Contest, The Insurance Times Yes 100
Policies providing only dental treatment
25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 00
benefits such as routine dental Phone : 2269 6035, 2218 4184, 4007 8428
examinations, preventive dental work, Email: insurance.kolkata@gmail.com Can’t say 00
and dental procedures needed to treat
tooth decay and diseases of the teeth Sundaram Finance, Ageas Insurance com-
and jaw.
plete insurance deal
Dental Only
Line of business providing dental only Ageas Insurance International NV, Europe's leading insurance group, has ac-
coverage; coverage can be on a stand- quired 40% in Royal Sundaram General Insurance. The agreement was signed
alone basis or as a rider to a medical between Sundaram Finance and Ageas Insurance International in November
policy. If the coverage is as a rider, 2018, following the approvals given by the Insurance Regulatory and Devel-
deductibles or out-of-pocket limits must opment Authority of India (IRDAI) and other regulators.
be set separately from the medical As part of the agreement, Ageas has acquired 40 per cent of the share capi-
coverage. Does not include self-insured tal of Royal Sundaram General Insurance Co Ltd. The total value indicated for
business as well as FEHBP or Medicare the deal was Rs.1,520 crore. Subsequent to the divestment, Sundaram Finance
and Medicaid programs.
Ltd now holds 50 per cent, and some of the existing Indian shareholders hold
Direct Incurred Loss the balance 10 per cent in Royal Sundaram.
Loss whereby the proximate cause is "Like Sundaram Finance, Ageas is a retail-focussed company with a strong Asia
equivalent to the insured peril. presence. As part of the go-to-market strategy of the JV firm, we are confi-
Direct Loss dent of tapping into their expertise and leveraging some of their best prac-
Damage to covered real or personal tices in claims management, automation in underwriting and analytics," said
property caused by a covered peril. TT Srinivasaraghavan, Managing Director, Sundaram Finance Ltd.
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, March 2019