Cover for Fiat-owners

Anand Ram

Royal Sundaram Alliance and Fisaf - the joint venture between Fiat Auto's financing arm, Fidis, and Sundaram Finance - are together targeting Fiat car owners to provide insurance cover.

The product, 'Fiat Protect', offers motor and other types of insurance at Fiat dealerships across the country.

Under this category, the insurers have launched a manufacture-supported motor insurance plan, termed Fiatshield. Available initially to new car-owners and in due course to the entire customer base, the policy offers cover for loss or damage to the car and accidents.

* Cashless claim facility from Royal Sundaram

Royal Sundaram Alliance Insurance (RSA) has also launched a cashless claim facility in auto and health insurance segments - touted to be a first in the non-life private sector insurance business. Thus, the insured does not have to bear any costs related to medical treatment or auto repair immediately. Instead, these costs are directly defrayed by RSA branches or its strategic partners, including American Express, ABN Amro, Citibank, Fiat Sundaram Auto Finance, Standard Chartered Bank and Sundaram Finance.

The advantage is that the customer does not have to make upfront remittances on repair or hospitalisation costs. It is hassle-free because of direct settlement of claims.

* HDFC clinches a group insurance deal

HDFC Standard Life Insurance has successfully clinched a sale of its Group Insurance policy, according to its online press release. The deal was struck with VATECH Wabag Ltd - the Indian arm of Vienna-based VATECH Wabag with interests in water and sludge treatment - for a Group Term Insurance Policy to cover all employees in India.

The Group Term Insurance Policy, was launched in the middle of this year by HDFC Standard Life, offers customisation, including such options as the size of the group, the amount of cover and the premium sharing ratio between the employer and employee.

* Surveyors list on IRDA Web site

The Insurance Regulatory and Development Authority (IRDA) has posted on its Web site lists of categorised surveyors and loss assessors. The list, updated on December 5, with a count of 5502, has lists I and II, the latter again categorised according to regions and States.

List I contains those accorded 'Category C' while List II has the names of persons classified under Category A or B. All lists contain the names and addresses of surveyors. A note by the IRDA says that List II may be used by fresh applicants - for getting surveyor licences - to look up the names of Category A/B surveyors, in order to undergo practical training.