July 2010

Volume VIII, No. 7

’Ë◊Ê ÁflÁŸÿÊ◊∑§ •ı⁄U Áfl∑§Ê‚ ¬̋ÊÁœ∑§⁄Uá Ê

Ever Ready to Help- Policyholder Protection

Editorial BoardJ. Hari NarayanR. KannanS.V. MonyS.B. MathurS.L. MohanVepa KamesamAshvin Parekh

EditorU. JawaharlalHindi CorrespondentKamal ChowlaPrinted by G. Venugopala Krishna andpublished by J. Hari Narayan on behalf ofInsurance Regulatory and Development Authority.Editor: U. JawaharlalPrinted at Vamsi Art Printers Pvt. Ltd.(with design inputs from Efforts)11-6-872, Red Hills, Lakdikapul, Hyderabad.and published from

rdParishram Bhavan, 3 FloorBasheer BaghHyderabad - 500 004Phone: +91-40-23381100Fax: +91-40-66823334e-mail: irdajournal@irda.gov.in

© 2010 Insurance Regulatory and Development Authority.Please reproduce with due permission.Unless explicitly stated, the information and views published in this Journal may not be construed as those of the Insurance Regulatory and Development Authority.

From the Publisher

or any business entity, the bottom-line is

profit. However, corporate houses realize Fthat it is not merely profit-making that their

strategic planning aims at rather than the ways

and means through which to achieve that.

Rendering efficient services and protecting the

interests of the customer have been hogging

the limelight world over. There has been an

increasing emphasis on being fair to the

customer, irrespective of the type of business

that one pursues. In the domain of

manufacturing, this issue has been

successfully addressed by several measures

like a guaranteed performance of the

commodity; and in extreme cases, even a

replacement with a suitable product.

When it comes to the domain of services, the

inherent complexities of the business make it

not-so-easy to ensure such a straight forward

mechanism. Managements have to put in

place practices to ensure that the interests of

the customers are protected and also to

demonstrate it effectively. Where the client is

h ighly l i te ra te , i t a lmost happens

automatically thereby simplifying the process.

In the Indian domain where the awareness

levels are not very high in the field of financial

services in general, and insurance in

particular; to accomplish such a transparency

in dealing with clients is not an easy task.

Various measures have been taken by players on an on-

going basis to render the best service to the policyholders

and to ensure that their interests are protected. There is

no need to emphasize that the players should ever be

vigilant in this dynamic business environment that needs

a constant assessment of the policyholders' needs. There

is also a major role to play for all the other stakeholders in

order to ensure that the efforts taken do result in

successful implementation of the processes. Ever since

the formation of the regulator's office, it has been our

constant endeavour to make sure the interests of the

policyholders – whether corporate or retail – are

protected; and in this direction, we have put several

measures in place. Let me hasten to add, however, that

the task is not of a small order and we look forward to

working in unison with all the stakeholders towards

achieving an insurance industry that is as complaint-free

as can be visualized.

'Policyholder Protection' is the focus of this issue of the

Journal. The issue of Claims Management that we

focused on in the recent past has left some unfinished

agenda that we hope to cover up. Accordingly, 'Claims

Management' will be the focus of the next issue of the

Journal.

J. Hari Narayan

Editorial BoardJ. Hari NarayanR. KannanS.V. MonyS.B. MathurS.L. MohanVepa KamesamAshvin Parekh

EditorU. JawaharlalHindi CorrespondentKamal ChowlaPrinted by G. Venugopala Krishna andpublished by J. Hari Narayan on behalf ofInsurance Regulatory and Development Authority.Editor: U. JawaharlalPrinted at Vamsi Art Printers Pvt. Ltd.(with design inputs from Efforts)11-6-872, Red Hills, Lakdikapul, Hyderabad.and published from

rdParishram Bhavan, 3 FloorBasheer BaghHyderabad - 500 004Phone: +91-40-23381100Fax: +91-40-66823334e-mail: irdajournal@irda.gov.in

© 2010 Insurance Regulatory and Development Authority.Please reproduce with due permission.Unless explicitly stated, the information and views published in this Journal may not be construed as those of the Insurance Regulatory and Development Authority.

From the Publisher

or any business entity, the bottom-line is

profit. However, corporate houses realize Fthat it is not merely profit-making that their

strategic planning aims at rather than the ways

and means through which to achieve that.

Rendering efficient services and protecting the

interests of the customer have been hogging

the limelight world over. There has been an

increasing emphasis on being fair to the

customer, irrespective of the type of business

that one pursues. In the domain of

manufacturing, this issue has been

successfully addressed by several measures

like a guaranteed performance of the

commodity; and in extreme cases, even a

replacement with a suitable product.

When it comes to the domain of services, the

inherent complexities of the business make it

not-so-easy to ensure such a straight forward

mechanism. Managements have to put in

place practices to ensure that the interests of

the customers are protected and also to

demonstrate it effectively. Where the client is

h ighly l i te ra te , i t a lmost happens

automatically thereby simplifying the process.

In the Indian domain where the awareness

levels are not very high in the field of financial

services in general, and insurance in

particular; to accomplish such a transparency

in dealing with clients is not an easy task.

Various measures have been taken by players on an on-

going basis to render the best service to the policyholders

and to ensure that their interests are protected. There is

no need to emphasize that the players should ever be

vigilant in this dynamic business environment that needs

a constant assessment of the policyholders' needs. There

is also a major role to play for all the other stakeholders in

order to ensure that the efforts taken do result in

successful implementation of the processes. Ever since

the formation of the regulator's office, it has been our

constant endeavour to make sure the interests of the

policyholders – whether corporate or retail – are

protected; and in this direction, we have put several

measures in place. Let me hasten to add, however, that

the task is not of a small order and we look forward to

working in unison with all the stakeholders towards

achieving an insurance industry that is as complaint-free

as can be visualized.

'Policyholder Protection' is the focus of this issue of the

Journal. The issue of Claims Management that we

focused on in the recent past has left some unfinished

agenda that we hope to cover up. Accordingly, 'Claims

Management' will be the focus of the next issue of the

Journal.

J. Hari Narayan

inside

Issu

e F

oc

us

Changing the Way Insurance is Transacted

Yegnapriya Bharat

Need to Demonstrate and Deliver

Vishwavijay Singh

Contours of World Class Organizations

Prof. Rajni M. Shah

Pro-active Customer Service

Anand Pejawar

Commitment towards Protection

CP Udayachandran

A Myth or a Reality?

K.Nagaraja Rao and Dr Y.Raja Ram

Statistics - Life Insurance 04

In the Air 06

Vantage Point U. Jawaharlal 17

thou chek esa xzkgd fgr j{kkS>m°. gw~moY Hw$‘ma, hare MÝÐ aVyS>r 41

Statistics - Non-Life Insurance 47

Round up 48

Statistical Supplement (Monthly) 49

from the editor

- Essential Management Imperative

There is an increasing emphasis world over on

ensuring that the customer is rendered the best

of services, irrespective of whether it is

demanded or not. This puts the onus on the

providers to be proactive on assessment of the

client's needs; and then put in place an

efficient mechanism to enable the fulfillment

of those needs. The urge to be perfect led to the

evolution of such business management

strategies as Six Sigma which has become

synonymous with corporate managements

seeking perfection. While it would not be easy

to emulate these models in the services

industry entirely, several organizations still set

their benchmarks at a high pedestal so that they

hardly leave any space for consumer

disenchantment.

In the domain of financial services in India,

several service providers have defined pre-set

goals in terms of quality and timelines; and

these are re-visited and reviewed from time to

time to be in tune with the developments

taking place in the corporate world. The

performance of the organizations is assessed

vis-à-vis these standards in order to gauge the

level of their accomplishment and it functions

as a good tool to ensure that there is a constant

attempt to perform well. It necessarily

presupposes that the customer is literate and

capable of taking care of his need-fulfillment,

at least to some extent. However, in a domain

where the financial literacy levels are not very

high, there is need for organizations to be

additionally devoted to render the best

services. Policyholder protection in the

insurance industry occupies even a more

important place considering the fact that

despite the growth in volumes of business,

insurance is still not greatly understood by the

masses.

Further, the need for legal intervention in several disputes pertaining

to the insurance industry bears silent testimony to the fact that the

degree of consumer dissatisfaction is still high. And if a majority of the

verdicts go against the insurers, it gradually leads to a situation where

the policyholder begins to lose confidence in the system. This trend is

detrimental to the growth of the industry and should be arrested

forthwith. Insurers and other stakeholders of the industry should

realize the importance of the spirit of the contracts rather than what is

merely stated in the documents; in order that policyholder protection

in its truest sense is achieved.

'Policyholder Protection' is the focus of this issue of the Journal. As the

regulator of the industry, IRDA has been taking several measures

constantly to ensure the protection of the policyholders' interests.

Could there be a better way of opening the debate than looking at

some of the regulator's initiatives? Ms. Yegnapriya Bharat gives a vivid

account of the various steps taken by the regulatory authority towards

ensuring policyholder protection. In the next article, Mr. Vishwavijay

Singh lays emphasis on the importance of transparency in dealing

with the policyholder at every stage of the policy lifecycle. Prof. Rajni

M Shah brings in the concept of adding value to the customer and

speaks about how to bring it out.

Mr. Anand Pejawar is the author of the next article in which he gives

details of the various services rendered to a life insurance

policyholder; and on how to attain the best degree of client servicing.

In the next article, Mr. C.P. Udayachandran speaks about the punitive

measures to be adopted in case the service providers deliberately

default on rendering the desired service to the customer. In the last

article of the issue, Mr. K. Nagaraja Rao and Dr. Y. Raja Ram throw

light on what the rural policyholder feels about the services being

rendered by insurers.

It was not long ago that the focus of the Journal was on Claims

Management. However, looking at the various issues associated with

the hugely important aspect of insurance business, it is proposed to

focus on 'Claims Management' once again in the next issue of the

Journal.

U. Jawaharlal

Ensuring Wholesome Protection

18

22

24

29

32

34

inside

Issu

e F

oc

us

Changing the Way Insurance is Transacted

Yegnapriya Bharat

Need to Demonstrate and Deliver

Vishwavijay Singh

Contours of World Class Organizations

Prof. Rajni M. Shah

Pro-active Customer Service

Anand Pejawar

Commitment towards Protection

CP Udayachandran

A Myth or a Reality?

K.Nagaraja Rao and Dr Y.Raja Ram

Statistics - Life Insurance 04

In the Air 06

Vantage Point U. Jawaharlal 17

thou chek esa xzkgd fgr j{kkS>m°. gw~moY Hw$‘ma, hare MÝÐ aVyS>r 41

Statistics - Non-Life Insurance 47

Round up 48

Statistical Supplement (Monthly) 49

from the editor

- Essential Management Imperative

There is an increasing emphasis world over on

ensuring that the customer is rendered the best

of services, irrespective of whether it is

demanded or not. This puts the onus on the

providers to be proactive on assessment of the

client's needs; and then put in place an

efficient mechanism to enable the fulfillment

of those needs. The urge to be perfect led to the

evolution of such business management

strategies as Six Sigma which has become

synonymous with corporate managements

seeking perfection. While it would not be easy

to emulate these models in the services

industry entirely, several organizations still set

their benchmarks at a high pedestal so that they

hardly leave any space for consumer

disenchantment.

In the domain of financial services in India,

several service providers have defined pre-set

goals in terms of quality and timelines; and

these are re-visited and reviewed from time to

time to be in tune with the developments

taking place in the corporate world. The

performance of the organizations is assessed

vis-à-vis these standards in order to gauge the

level of their accomplishment and it functions

as a good tool to ensure that there is a constant

attempt to perform well. It necessarily

presupposes that the customer is literate and

capable of taking care of his need-fulfillment,

at least to some extent. However, in a domain

where the financial literacy levels are not very

high, there is need for organizations to be

additionally devoted to render the best

services. Policyholder protection in the

insurance industry occupies even a more

important place considering the fact that

despite the growth in volumes of business,

insurance is still not greatly understood by the

masses.

Further, the need for legal intervention in several disputes pertaining

to the insurance industry bears silent testimony to the fact that the

degree of consumer dissatisfaction is still high. And if a majority of the

verdicts go against the insurers, it gradually leads to a situation where

the policyholder begins to lose confidence in the system. This trend is

detrimental to the growth of the industry and should be arrested

forthwith. Insurers and other stakeholders of the industry should

realize the importance of the spirit of the contracts rather than what is

merely stated in the documents; in order that policyholder protection

in its truest sense is achieved.

'Policyholder Protection' is the focus of this issue of the Journal. As the

regulator of the industry, IRDA has been taking several measures

constantly to ensure the protection of the policyholders' interests.

Could there be a better way of opening the debate than looking at

some of the regulator's initiatives? Ms. Yegnapriya Bharat gives a vivid

account of the various steps taken by the regulatory authority towards

ensuring policyholder protection. In the next article, Mr. Vishwavijay

Singh lays emphasis on the importance of transparency in dealing

with the policyholder at every stage of the policy lifecycle. Prof. Rajni

M Shah brings in the concept of adding value to the customer and

speaks about how to bring it out.

Mr. Anand Pejawar is the author of the next article in which he gives

details of the various services rendered to a life insurance

policyholder; and on how to attain the best degree of client servicing.

In the next article, Mr. C.P. Udayachandran speaks about the punitive

measures to be adopted in case the service providers deliberately

default on rendering the desired service to the customer. In the last

article of the issue, Mr. K. Nagaraja Rao and Dr. Y. Raja Ram throw

light on what the rural policyholder feels about the services being

rendered by insurers.

It was not long ago that the focus of the Journal was on Claims

Management. However, looking at the various issues associated with

the hugely important aspect of insurance business, it is proposed to

focus on 'Claims Management' once again in the next issue of the

Journal.

U. Jawaharlal

Ensuring Wholesome Protection

18

22

24

29

32

34

statistics - life insurance

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in the air

06

irda j

ourn

al Ju

ly 2

010

EXPOSURE DRAFT

Re: Exposure draft regarding proposed amendment to IRDA

Regulations for Protection of Policyholders Interests, 2002 -

Issuance of Key Feature Documents for insurance products.

In line with the nation's approach to economic reforms, the IRDA has

initiated reform measures around the principle of sustainable growth

along with public accountability. Therefore protecting the interests of

policyholders is the main mission of IRDA and the Authority's efforts

have been constantly directed towards this end.

In 2002, the Authority brought out the IRDA (Protection of

Policyholders' Interest) Regulations. The Regulations define the

obligation of insurers and intermediaries and lay down time-frames

for compliance that cover the entire life cycle of a product, starting

from its sale to servicing, including at the point of claim.

The opening up of the insurance sector has given insurers the

opportunity to bring about many innovative designs and concepts in

product development. Spurred by competition triggered by this

opportunity, the market has seen a plethora of new products. This has

raised new concerns regarding availability of information to prospects

and policyholders.

While IRDA has made continuous efforts to demystify complex

products by requiring insurers to follow certain guidelines relating to

disclosures especially in respect of the new breed of products such as

ULIPs and carry out adequate safeguards while advertising about

products etc, there is a need to constantly scale up the efforts to ensure

that the required information is made available to prospects and

policyholders and that the “information gap” between them and the

insurers is reduced or removed.

The Authority is sensitive to the fact that information asymmetry is a

reality in the market and that it is necessary for all stakeholders to

work towards its removal. In this backdrop, the importance of giving

policyholders clear and precise information with regard to insurance

products needs no further emphasis. The Authority has brought out

the IRDA (Insurance Advertisement and Disclosure) Regulations in

2000 to ensure that asymmetry is addressed. It has been IRDA's

constant endeavour to permit only correct, easily understood

depiction of the product features. Apart from the Regulations, IRDA

has also issued guidelines in this regard.

Ensuring fair treatment to policyholders: There should be utmost

transparency at the time of sale and promotion so that the

policyholder is made to feel confident that he or she is being given

complete information regarding the product. Provision of clear and

complete information about products is not only a fundamental

expectation but also a necessity to ensure fair treatment to

policyholders by insurance companies. It is a necessary disclosure

obligation of insurance companies.

Contractual documents issued by insurers: Contractual documents

developed by insurance companies should take care of the interests of

policyholders by giving them the required information in a clear and

4th June, 2010 ALL INSURERS/CONSUMER BODIES/GENERAL PUBLIC

simple manner. Legal documents are complex

and not comprehensible to the insured

persons. It is observed that insurance policy

documents are long and run into several pages

making it almost impossible for policyholders

to read them.

While, more than 30% of the Indian

population is illiterate, even the literate

population will not understand complex legal

language. In view of this, providing product

information in a simple and easy to understand

manner is very crucial.

Key Feature Documents: To ensure fair

treatment to policyholders, it is necessary for

insurers to bring out Key Feature Documents in

simple language. This document will have the

same legal sanction that a comprehensive

policy document will have. Towards this end,

it is proposed to incorporate a provision in

IRDA Regulations for Protection of

Policyholders Interests that would require

insurance companies to issue Key Feature

Documents for various insurance products to

policyholders.

Format of Key Feature Document: It is

necessary that the proposed Key Feature

Documents are developed in a clear format

with an appropriate title and sub-titles that

makes it easy for policyholders to

comprehend. The language used should be

simple. Illustrations relating to cover/benefits

offered should be part of the Key Feature

Document. The ultimate test of a Key Feature

Document is whether or not the target

customer for a particular product understands

its main features and is able to take a decision

as to whether the product is suitable for

him/her. A good example of a Key Feature

Document is one that clearly captures the aim

of the product or in other words, what the

product seeks to cover. It would clearly bring

out the risks involved for the policyholder and

the obligations or commitments required of

him/her. A Key Feature document should not

be too long as to lose the precision nor should

it be too short thereby missing out on key facts.

The document should avoid jargon, should be

easy to read and most of all be attractive for the

consumer to peruse. It should be titled

prominently and should use easy to

07

irda j

ourn

al Ju

ly 2

010

EXPOSURE DRAFT4th June, 2010

understand language. It should be in at least 14

size font (of Times New Roman, as an

indication). Key Feature Document shall be

available in local languages depending on the

region where the policy holder resides.

It is necessary to have the Key Feature

Document as a separate item and not part of

other literature. Model Key Feature

Documents in respect of 4 products are

enclosed as indicative formats to communicate

the intention behind the proposed regulations.

Insurers, general public and consumer bodies are requested to

respond by 20th June, 2010. E-mails may be forwarded to

ypriyab@irda.gov.in

Encl: Model Key Feature Documents 1. Jeevan Anand 2. Wealth Plus 3. Forever Life 4. Family Care

Sd/-

(A.Giridhar)

Executive Director, IRDA

Re: Exposure Draft on Guidelines on Distance

Marketing and Sale Process Verification of

Insurance Products

The Authority proposes to come out with the

Guidelines on Distance Marketing and Sale of

Insurance Products to streamline the manner of

sale of insurance products and to address some

of the issues which are specific to protection of

interests of policyholders buying insurance

over distance modes such as telephone and the

internet.

The exposure draft on the above guideline is

hereby published to elicit opinion of

policyholders, consumer organisations, general public, distributors,

insurers and various other stakeholders.

It is therefore requested that the comments may be forwarded to Mr. V.

Sai Kumar, OSD (Life) or e-mail to vsaikumar@irda.gov in on or before

20th June, 2010.

Encl: Exposure Draft on Guidelines on Distance Marketing and Sale

Process Verification of Insurance Products

Sd/-

(A. Giridhar)

ED (Admin)

CIRCULARDate: June 10, 2010 Ref: IRDA/F&I/CIR/DATA/091/06/2010

To,

The CEOs of All Insurance Companies

Dear Sir,

Section 31B(2) of the Insurance Act, 1938

Attention is drawn to section 31B(2) of the

Insurance Act, 1938 by virtue of which “Every

insurer shall before the close of the month

following every year, submit to the Authority [a

statement, in the form specified by the

Regulations made by the Authority,] showing

the remuneration paid, whether by way of

commission or otherwise, to any person in

cases where such remuneration exceeds (such

sum as may be specified by the regulations

made by the Authority.)”

2. The Authority has now decided that the

details of remuneration paid whether by

way of commission or otherwise to any person, in cases where

such remuneration exceeds Rs. 1 lakh per annum may be furnished

to the Authority in the format prescribed in the Annexure.

3. The said details pertaining to the financial year ending 31st March

may be furnished by 30th April of every year. However, for the year

ending 31st March 2010, details may be furnished by 30st June

2010.

4. Employee remuneration details which are being furnished as part

of the Director's Report as required under Section 217 (2A) (a) of

the Companies Act, 1956 read with the Companies (Particulars of

Employees) Rules, 1975 may continue to be provided along with

Director's Report.

5. This circular supersedes the circular dated 9th May 2003 on the

subject.

Sd/-

(R. K. Nair)

Member (F&I)

in the air

06

irda j

ourn

al Ju

ly 2

010

EXPOSURE DRAFT

Re: Exposure draft regarding proposed amendment to IRDA

Regulations for Protection of Policyholders Interests, 2002 -

Issuance of Key Feature Documents for insurance products.

In line with the nation's approach to economic reforms, the IRDA has

initiated reform measures around the principle of sustainable growth

along with public accountability. Therefore protecting the interests of

policyholders is the main mission of IRDA and the Authority's efforts

have been constantly directed towards this end.

In 2002, the Authority brought out the IRDA (Protection of

Policyholders' Interest) Regulations. The Regulations define the

obligation of insurers and intermediaries and lay down time-frames

for compliance that cover the entire life cycle of a product, starting

from its sale to servicing, including at the point of claim.

The opening up of the insurance sector has given insurers the

opportunity to bring about many innovative designs and concepts in

product development. Spurred by competition triggered by this

opportunity, the market has seen a plethora of new products. This has

raised new concerns regarding availability of information to prospects

and policyholders.

While IRDA has made continuous efforts to demystify complex

products by requiring insurers to follow certain guidelines relating to

disclosures especially in respect of the new breed of products such as

ULIPs and carry out adequate safeguards while advertising about

products etc, there is a need to constantly scale up the efforts to ensure

that the required information is made available to prospects and

policyholders and that the “information gap” between them and the

insurers is reduced or removed.

The Authority is sensitive to the fact that information asymmetry is a

reality in the market and that it is necessary for all stakeholders to

work towards its removal. In this backdrop, the importance of giving

policyholders clear and precise information with regard to insurance

products needs no further emphasis. The Authority has brought out

the IRDA (Insurance Advertisement and Disclosure) Regulations in

2000 to ensure that asymmetry is addressed. It has been IRDA's

constant endeavour to permit only correct, easily understood

depiction of the product features. Apart from the Regulations, IRDA

has also issued guidelines in this regard.

Ensuring fair treatment to policyholders: There should be utmost

transparency at the time of sale and promotion so that the

policyholder is made to feel confident that he or she is being given

complete information regarding the product. Provision of clear and

complete information about products is not only a fundamental

expectation but also a necessity to ensure fair treatment to

policyholders by insurance companies. It is a necessary disclosure

obligation of insurance companies.

Contractual documents issued by insurers: Contractual documents

developed by insurance companies should take care of the interests of

policyholders by giving them the required information in a clear and

4th June, 2010 ALL INSURERS/CONSUMER BODIES/GENERAL PUBLIC

simple manner. Legal documents are complex

and not comprehensible to the insured

persons. It is observed that insurance policy

documents are long and run into several pages

making it almost impossible for policyholders

to read them.

While, more than 30% of the Indian

population is illiterate, even the literate

population will not understand complex legal

language. In view of this, providing product

information in a simple and easy to understand

manner is very crucial.

Key Feature Documents: To ensure fair

treatment to policyholders, it is necessary for

insurers to bring out Key Feature Documents in

simple language. This document will have the

same legal sanction that a comprehensive

policy document will have. Towards this end,

it is proposed to incorporate a provision in

IRDA Regulations for Protection of

Policyholders Interests that would require

insurance companies to issue Key Feature

Documents for various insurance products to

policyholders.

Format of Key Feature Document: It is

necessary that the proposed Key Feature

Documents are developed in a clear format

with an appropriate title and sub-titles that

makes it easy for policyholders to

comprehend. The language used should be

simple. Illustrations relating to cover/benefits

offered should be part of the Key Feature

Document. The ultimate test of a Key Feature

Document is whether or not the target

customer for a particular product understands

its main features and is able to take a decision

as to whether the product is suitable for

him/her. A good example of a Key Feature

Document is one that clearly captures the aim

of the product or in other words, what the

product seeks to cover. It would clearly bring

out the risks involved for the policyholder and

the obligations or commitments required of

him/her. A Key Feature document should not

be too long as to lose the precision nor should

it be too short thereby missing out on key facts.

The document should avoid jargon, should be

easy to read and most of all be attractive for the

consumer to peruse. It should be titled

prominently and should use easy to

07

irda j

ourn

al Ju

ly 2

010

EXPOSURE DRAFT4th June, 2010

understand language. It should be in at least 14

size font (of Times New Roman, as an

indication). Key Feature Document shall be

available in local languages depending on the

region where the policy holder resides.

It is necessary to have the Key Feature

Document as a separate item and not part of

other literature. Model Key Feature

Documents in respect of 4 products are

enclosed as indicative formats to communicate

the intention behind the proposed regulations.

Insurers, general public and consumer bodies are requested to

respond by 20th June, 2010. E-mails may be forwarded to

ypriyab@irda.gov.in

Encl: Model Key Feature Documents 1. Jeevan Anand 2. Wealth Plus 3. Forever Life 4. Family Care

Sd/-

(A.Giridhar)

Executive Director, IRDA

Re: Exposure Draft on Guidelines on Distance

Marketing and Sale Process Verification of

Insurance Products

The Authority proposes to come out with the

Guidelines on Distance Marketing and Sale of

Insurance Products to streamline the manner of

sale of insurance products and to address some

of the issues which are specific to protection of

interests of policyholders buying insurance

over distance modes such as telephone and the

internet.

The exposure draft on the above guideline is

hereby published to elicit opinion of

policyholders, consumer organisations, general public, distributors,

insurers and various other stakeholders.

It is therefore requested that the comments may be forwarded to Mr. V.

Sai Kumar, OSD (Life) or e-mail to vsaikumar@irda.gov in on or before

20th June, 2010.

Encl: Exposure Draft on Guidelines on Distance Marketing and Sale

Process Verification of Insurance Products

Sd/-

(A. Giridhar)

ED (Admin)

CIRCULARDate: June 10, 2010 Ref: IRDA/F&I/CIR/DATA/091/06/2010

To,

The CEOs of All Insurance Companies

Dear Sir,

Section 31B(2) of the Insurance Act, 1938

Attention is drawn to section 31B(2) of the

Insurance Act, 1938 by virtue of which “Every

insurer shall before the close of the month

following every year, submit to the Authority [a

statement, in the form specified by the

Regulations made by the Authority,] showing

the remuneration paid, whether by way of

commission or otherwise, to any person in

cases where such remuneration exceeds (such

sum as may be specified by the regulations

made by the Authority.)”

2. The Authority has now decided that the

details of remuneration paid whether by

way of commission or otherwise to any person, in cases where

such remuneration exceeds Rs. 1 lakh per annum may be furnished

to the Authority in the format prescribed in the Annexure.

3. The said details pertaining to the financial year ending 31st March

may be furnished by 30th April of every year. However, for the year

ending 31st March 2010, details may be furnished by 30st June

2010.

4. Employee remuneration details which are being furnished as part

of the Director's Report as required under Section 217 (2A) (a) of

the Companies Act, 1956 read with the Companies (Particulars of

Employees) Rules, 1975 may continue to be provided along with

Director's Report.

5. This circular supersedes the circular dated 9th May 2003 on the

subject.

Sd/-

(R. K. Nair)

Member (F&I)

in the air

08

irda

journ

alJuly

2010

CIRCULAR

June 16, 2010 Ref: Ref:IRDA/F&I/CIR/100/06/2010

To

Authority vide its Circular No. IRDA/F&A/064/JAN/05 dated 12th

January, 2005 and IRDA/CIR/F&A/073/FEB-05 dated 22nd February,

2005 had mandated all the insurers to submit the detail of the

shareholding of the insurance company and the Indian promoter (s) of

the insurance company in the prescribed format.

The prescribed format for the submission of the shareholding pattern

is revised to capture the information about the pledge or any other

encumbrance, if any created on the shares. The revised format is

The CMDs/ CEOs of All Insurance Companies

Details of Equity Holding Pattern of Insurance Companies

attached herewith. The revision in the format

shall come into force with immediate effect

and the reporting as per the revised formats

shall start from the quarter ending 30th June,

2010.

All insurers are requested to take note of the

above for compliance.

Sd/-

Member (F&I)

(R. K .Nair)

To

In order to streamline the system of Issue/Renewal of License to

Corporate Agents, the Authority has, in addition to the Regulations

and Guidelines already in force, decided to issue the following

instructions under Section 14 of the IRDA Act, 1999 for compliance

by the Insurers while issuing / renewing Licence to Corporate Agents.

These guidelines shall for part of Cir.No.017/IRDA Circular/CA

Guidelines/2005, dated 14.07.2005 and further circulars/

clarifications issued from time to time.

The following procedure shall be adopted by all the Insurers for

seeking prior approval from the Authority, before issuing Fresh

Licence / Renewal of Licence to the Corporate Agents:

1. All the Insurers shall send to the Authority, the Checklist-cum-

Certification as per Annexure-1, in respect of all Fresh Licences

and the Renewals to obtain prior approval of the Authority.

2. The Checklist shall be duly filled in and signed by the Corporate

Compliance Officer, who shall be designated as the Corporate

Designated Person of the Insurer.

3. The scanned copy (.pdf document) of Checklist along with

Certification shall be mailed to the Authority at the email address

corp.agent@irda.gov.in for the purpose of processing at the office

All the Insurers

Subject: Guidelines on Issue/Renewal of Licence to Corporate

Agents.

CORPORATE AGENTS - GUIDELINES

of the Authority.

4. The relevant documents supporting the

facts of the Checklist shall be maintained at

the Corporate/Head Office of the Insurer

and shall be made available to the Officers

of the Authority for Inspection, as and when

required by the Authority.

5. On receipt and scrutiny of the Checklist-

cum-Certification from the Insurer, the

Authority shall intimate its decision of

Approval or otherwise with in 7 (seven)

working days from the date of receipt, to the

Insurer in respect of the Fresh/Renewal of

Licence to act as Corporate Agent.

6. Fresh/Renewal Licence shall be issued by

the Corporate Designated Person of the

Insurer from the IRDA portal (as per the

existing procedure) only after obtaining

prior approval of the Authority.

These Guidelines will apply with immediate

effect.

Sd/-

Executive Director

(A Giridhar)

28th June, 2010 Ref: IRDA/CAGTS/GTL/LCE/106/06/2010

09

irda

journ

alJuly

2010

Guidance notes on recent regulatory changes

related to unit linked insurance products

(ULIPs)

Introduction:IRDA has, from time to time, taken various

initiatives for protecting the interests of

policyholders by bringing out Regulations,

Guidelines, Circulars etc applicable to insurers

and intermediaries covering the various stages

in the lifecycle of an insurance product,

commencing from solicitation, sale, policy

servicing, to claims servicing and grievance

redressal.

With expansion of the insurance sector and

more and more innovative insurance products,

in particular the Unit Linked Insurance

Products coming into the life insurance

market, IRDA has been sensitive to the

changing scenario and the challenges that go

with it. In particular, IRDA has been conscious

of how these changes have been impacting the

policyholder and has taken several steps to

bring in changes in the regulatory framework

to address various concerns of the

policyholder.

IRDA had stipulated that insurers must provide

the prospect/policyholder all relevant

information regarding amounts deducted

towards various charges for each policy year so

that the prospect could take an informed

decision. Insurers were required to provide

Benefit Illustrations giving two scenarios of

interest rates, 6% and 10% respectively. The

prospect was required to sign on the

illustration while signing the proposal form.

This was done to ensure transparency and

proper disclosures by the insurers.

It is necessary to demystify complex products

and ensure that proper product disclosures are

made to the prospect/policyholder. Towards

this end, IRDA has already come out with an

exposure draft on need to issue Key Features

Documents. Responses received by the

Authority are under examination and the

initiative will be taken forward further.

Similarly, Needs Analysis is another initiative

identified by IRDA as a step in curbing wrong

advice and mis-selling. An exposure draft on

this requirement is already circulated and

responses are coming in. Whilst on mis-

UNIT LINKED INSURANCE PRODUCTS

selling, IRDA has identified Distance Marketing as yet another area of

concern and draft guidelines in this regard have been put up as an

exposure note for all stakeholders to respond to.

Mention must be made of what is perhaps the most important step that

the Authority has taken keeping in view the interests of policyholders.

IRDA set up an exclusive Consumer Affairs Department that focuses

on consumer related issues and initiatives including grievance

redressal and consumer education through Insurance Awareness

Campaigns. With a view to creating a central repository of industry-

wide insurance grievance data and facilitating monitoring of disposal

of grievances by insurers, IRDA is on the verge of implementing the

Integrated Grievance Management System (IGMS). IGMS will not

only help monitor the redress systems of insurers but also create a

gateway for policyholders to register complaints with insurance

companies first and if need be escalate them to the IRDA Grievance

Cells. The Consumer Affairs department goes beyond facilitation and

works towards taking grievances to their logical end by calling for

explanations where required, carrying out enquiries and inspections

etc. It is proposed to make the institution of the Insurance

Ombudsman handle all types of complaints including those relating

to policy sale and servicing rather than just restricting it to claims.

IRDA is also shortly making its Call Centre operational for

policyholders to lodge their grievances and also seek their status over

phone/e-mail.

Further, keeping in view the need for efficient functioning of the

insurance sector for protecting the interests of policyholders, it is

necessary to have reliable, timely and accurate data relating to

insurance. In order to ensure that proper data is collected, processed

and disseminated in the manner required, IRDA has set up an

independent body, namely the Insurance Information Bureau (IIB).

The IIB has started functioning and has already made good progress.

More recently, IRDA has taken a holistic view of the features of ULIPs

and addressed issues impacting the policyholders including the way

such products are sold/bought; how ULIPs can be better financial

instruments for providing risk coverage; how sale by unlicensed

personnel and several other malpractices existing in this market may

be curbed by plugging legal loopholes and tightening of the

regulatory ambit; legal mandate to initiate direct penal action against

Corporate Agents etc. IRDA therefore initiated exposure drafts

covering these areas and received considerable feedback from

various stakeholders on the issues put forth. The issues were then

presented to and discussed with the members of the Insurance

Advisory Committee as well as the members of the Board of the

Authority. The following regulatory initiatives have been approved by

the Authority during the Board meeting on 31.05.10.

1. IRDA has amended the IRDA (Insurance Advertisements and

Disclosure) Regulations to remove any scope for the involvement

of unlicensed personnel/entities in the sale of insurance products.

Recent Regulatory Initiatives

I. Distribution channel related changes:

Date : 28th June, 2010

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2. IRDA has amended the IRDA (Licensing of Corporate Agents)

Regulations to further tighten the Code of Conduct of corporate

agents to ensure that the prospect does not deal with any

unlicensed person. The Regulations have also been amended to

ensure that there is no scope for any kind of remuneration other

than commission where sale has been effected. This measure will

reduce the expenses of the insurer, thereby lowering premiums to

be paid by the policyholder.

3. Regulations for referrals: IRDA has also addressed the issue of

Referrals by bringing out separate Regulations leaving no scope for

misuse of the system. Companies which wish to share their

database of customers with insurers would need to get approval

from IRDA after having conformed to the requirements as laid

down in the Regulations. Further, there are restrictions on the

business activities of the referral company to ensure that there is no

misuse of the system. For instance, the referral company shall not

be in any business of extending loans and advances or accepting

deposits etc though there are exceptions such as for Regional

Rural Banks, Co-operative banks etc. The Regulations cast

obligations on the referral company as well as the insurer

including submission of data as and when called for by the

Authority.

II. ULIP Structure Related Changes:

(1) Lock in period increased to five years:

IRDA has increased the lock-in period for all Unit Linked Products

from three years to five years, including top-up premiums, thereby

making them long term financial instruments which basically provide

risk protection.

(2) Level Paying Premiums:

Further, all regular premium/limited premium ULIPs shall have

uniform/level paying premiums. Any additional payments shall be

treated as single premium for the purpose of insurance cover.

(3) Even Distribution of Charges:

Charges on ULIPs are mandated to be evenly distributed during the

lock in period, to ensure that high front ending of expenses is

eliminated.

(4). Minimum Premium Paying Term Of Five Years:

All limited premium unit linked insurance products, other than single

premium products shall have premium paying term of at least five

years.

(5). Increase In Risk Component:

Further, all unit linked products, other than pension and annuity

products shall provide a mortality cover or a health cover thereby

increasing the risk cover component in such products.

(i) The minimum mortality cover should be as follows:

Minimum Sum assured for age at entry of below 45 years

Minimum Sum assured for age at entry of 45 years and above

Single Premium (SP) contracts: 125 percent of single premium.

Regular Premium (RP) including limited premium paying (LPP)

contracts: 10 times the annualized premiums or (0.5 X T X annualized

premium) whichever is higher. At no time the death benefit shall be

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less than 105 percent of the total premiums

(including top-ups) paid.

Single Premium (SP) contracts: 110 percent

of single premium

Regular Premium (RP) including limited

premium paying (LPP) contracts: 7 times the

annualized premiums or (0.25 X T X

annualized premium) whichever is higher. At

no time the death benefit shall be less than 105

percent of the total premiums (including top-

ups) paid.

(In case of whole life contracts, term (T) shall be

taken as 70 minus age at entry)

(ii)The minimum health cover per annum

should be as follows:

Minimum annual health cover for age at entry

of below 45 years

Minimum annual health cover for age at entry

of 45 years and above

Regular Premium (RP) contracts: 5 times the

annualized premiums or Rs.100,000 per

annum whichever is higher,

At no time the annual health cover shall be less

than 105 percent of the total premiums paid.

Regular Premium (RP) contracts: 5times the

annualized premiums or Rs.75,000 per annum

whichever is higher.

At no time the annual health cover shall be less

than 105 percent of the total premiums paid

(6). Minimum Guaranteed Return for Pension

Products:

As regards pension products, all ULIP

pension/annuity products shall offer a

minimum guaranteed return of 4.5% per

annum or as specified by IRDA from time to

time. This will protect the life time savings for

the pensioners, from any adverse fluctuations

at the time of maturity.

(7). Rationalisation of Cap on Charges:

With a view to smoothening the cap on

charges, the capping been rationalized to

ensure that the difference in yield is capped

from the 5th year onwards. This will not only

reduce the overall charges on these products,

but also smoothen the charge structure for the

policyholder.

III. Discontinuance Of Charges:

IRDA has also addressed the issue of

discontinuance of charges for surrender of

ULIPs. The IRDA (Treatment of Discontinued

Linked Insurance Policies) Regulations

brought out by IRDA in this regard ensure that

policyholders do not get overcharged when

they wish to discontinue their policies for any

emergency cash requirement. The Regulations

stipulate that an insurer shall recover only the

incurred acquisition costs in the event of

discontinuance of policy and that these

charges are not excessive. The discontinuance

charges have been capped both as percentage

of fund value and premium and also in

absolute value. The Regulations also clearly define the Grace Period

for different modes of premium payment. Upon discontinuance of a

policy, a policyholder shall be entitled to exercise an option of either

reviving the policy or completely withdrawing from the policy

without any risk cover. Further, the regulations also enable IRDA to

order refund of discontinuance charges in case they are found

excessive on enquiry.

These regulations are applicable to all new ULIP products approved

by IRDA after these regulations are notified.

J Hari Narayan

Chairman

CIRCULARDATE: 16/06/2010 REF: IRDA/F&I/CIR/AML/99/06/2010

To

THE CEOs OF ALL INSURERS

Anti Money Laundering (AML) Guidelines

A review of AML guidelines has been carried

out to address various issues identified out of

inspections carried out, interactions with FIU-

IND and FATF's Mutual Evaluation and

Assessment process.

2. The following amendments to/clarifications

on the guidelines are issued:

a. Know Your Customer (KYC):Various queries have been raised by insurers

on who can be termed as customer(s) for the

purposes of AML guidelines. Keeping the

objective of the PMLA and AML guidelines in

view, it is hereby clarified that details of the

person who funds/pays for an insurance

contract, either as beneficial owner or

otherwise become relevant and important

Stipulations under clause 3.1 of the AML

guidelines will therefore have to be applied to

such persons. The term customers also refer to

the Proposer/policyholder; Beneficiaries and

Assignee for the purposes of AML guidelines.

At any point in time during the contract period,

where an insurance company is no longer

satisfied that it knows the true identity of the

customer, an STR should be filed with FIU-

IND.

There have been queries on whether due

diligence requirements under clause 3.1.1 (ii)

are to be applied on 'other than individual

entities'. It is clarified that reference to

'individual' policies' to be read to mean

'individual' business. (As 'group' insurance

business falls under clause 3.1.4 and is not covered under AML.

guidelines). It is emphasized that no distinction be made between

'individuals' and 'other than individual entities' for the purposes of

clause 3.1.1

b. Guidance on 'Detailed due diligence':Guidance has been sought on what constitutes detailed due diligence

under clause 3.1.1 (ii) of the AML guidelines. Conducting detailed

due diligence would mean having measures and procedures which

are more rigorous and robust than normal KYC. These measures

should be commensurate to the risk. While it is not intended to be

exhaustive, the following are some of the reasonable measures in

carrying out detailed due diligence:

lMore frequent reviews of the customers activities/

profile/transactions

lApplication of additional measures like gathering information

from Public available. Sources or otherwise

lReview of the proposal/contract by a senior official of the

insurance company etc.,

It is further clarified that detailed due diligence should not be limited

to merely documenting income proofs. Measures laid down should

be in such a way that it would satisfy competent authorities

(Regulatory/enforcement authorities), if need be at a future date, that

due diligence was in fact observed by the insurer in compliance with

the guidelines and the PML Act based on the assessed risk involved in

a transaction/contract.

c. Reduced Customer Due Diligence (CDD) measures:

It is reiterated that while deciding on the extent of due diligence to be

carried out on any customer, risk profile of the product and the

customer should be taken into consideration as indicated at

dause3.1.3 of the AML guidelines.

Notwithstanding the above, detailed due diligence measures should

be applied in the event where there are suspicions of money

laundering or terrorist financing, or where there are factors to indicate

a higher risk.

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2. IRDA has amended the IRDA (Licensing of Corporate Agents)

Regulations to further tighten the Code of Conduct of corporate

agents to ensure that the prospect does not deal with any

unlicensed person. The Regulations have also been amended to

ensure that there is no scope for any kind of remuneration other

than commission where sale has been effected. This measure will

reduce the expenses of the insurer, thereby lowering premiums to

be paid by the policyholder.

3. Regulations for referrals: IRDA has also addressed the issue of

Referrals by bringing out separate Regulations leaving no scope for

misuse of the system. Companies which wish to share their

database of customers with insurers would need to get approval

from IRDA after having conformed to the requirements as laid

down in the Regulations. Further, there are restrictions on the

business activities of the referral company to ensure that there is no

misuse of the system. For instance, the referral company shall not

be in any business of extending loans and advances or accepting

deposits etc though there are exceptions such as for Regional

Rural Banks, Co-operative banks etc. The Regulations cast

obligations on the referral company as well as the insurer

including submission of data as and when called for by the

Authority.

II. ULIP Structure Related Changes:

(1) Lock in period increased to five years:

IRDA has increased the lock-in period for all Unit Linked Products

from three years to five years, including top-up premiums, thereby

making them long term financial instruments which basically provide

risk protection.

(2) Level Paying Premiums:

Further, all regular premium/limited premium ULIPs shall have

uniform/level paying premiums. Any additional payments shall be

treated as single premium for the purpose of insurance cover.

(3) Even Distribution of Charges:

Charges on ULIPs are mandated to be evenly distributed during the

lock in period, to ensure that high front ending of expenses is

eliminated.

(4). Minimum Premium Paying Term Of Five Years:

All limited premium unit linked insurance products, other than single

premium products shall have premium paying term of at least five

years.

(5). Increase In Risk Component:

Further, all unit linked products, other than pension and annuity

products shall provide a mortality cover or a health cover thereby

increasing the risk cover component in such products.

(i) The minimum mortality cover should be as follows:

Minimum Sum assured for age at entry of below 45 years

Minimum Sum assured for age at entry of 45 years and above

Single Premium (SP) contracts: 125 percent of single premium.

Regular Premium (RP) including limited premium paying (LPP)

contracts: 10 times the annualized premiums or (0.5 X T X annualized

premium) whichever is higher. At no time the death benefit shall be

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less than 105 percent of the total premiums

(including top-ups) paid.

Single Premium (SP) contracts: 110 percent

of single premium

Regular Premium (RP) including limited

premium paying (LPP) contracts: 7 times the

annualized premiums or (0.25 X T X

annualized premium) whichever is higher. At

no time the death benefit shall be less than 105

percent of the total premiums (including top-

ups) paid.

(In case of whole life contracts, term (T) shall be

taken as 70 minus age at entry)

(ii)The minimum health cover per annum

should be as follows:

Minimum annual health cover for age at entry

of below 45 years

Minimum annual health cover for age at entry

of 45 years and above

Regular Premium (RP) contracts: 5 times the

annualized premiums or Rs.100,000 per

annum whichever is higher,

At no time the annual health cover shall be less

than 105 percent of the total premiums paid.

Regular Premium (RP) contracts: 5times the

annualized premiums or Rs.75,000 per annum

whichever is higher.

At no time the annual health cover shall be less

than 105 percent of the total premiums paid

(6). Minimum Guaranteed Return for Pension

Products:

As regards pension products, all ULIP

pension/annuity products shall offer a

minimum guaranteed return of 4.5% per

annum or as specified by IRDA from time to

time. This will protect the life time savings for

the pensioners, from any adverse fluctuations

at the time of maturity.

(7). Rationalisation of Cap on Charges:

With a view to smoothening the cap on

charges, the capping been rationalized to

ensure that the difference in yield is capped

from the 5th year onwards. This will not only

reduce the overall charges on these products,

but also smoothen the charge structure for the

policyholder.

III. Discontinuance Of Charges:

IRDA has also addressed the issue of

discontinuance of charges for surrender of

ULIPs. The IRDA (Treatment of Discontinued

Linked Insurance Policies) Regulations

brought out by IRDA in this regard ensure that

policyholders do not get overcharged when

they wish to discontinue their policies for any

emergency cash requirement. The Regulations

stipulate that an insurer shall recover only the

incurred acquisition costs in the event of

discontinuance of policy and that these

charges are not excessive. The discontinuance

charges have been capped both as percentage

of fund value and premium and also in

absolute value. The Regulations also clearly define the Grace Period

for different modes of premium payment. Upon discontinuance of a

policy, a policyholder shall be entitled to exercise an option of either

reviving the policy or completely withdrawing from the policy

without any risk cover. Further, the regulations also enable IRDA to

order refund of discontinuance charges in case they are found

excessive on enquiry.

These regulations are applicable to all new ULIP products approved

by IRDA after these regulations are notified.

J Hari Narayan

Chairman

CIRCULARDATE: 16/06/2010 REF: IRDA/F&I/CIR/AML/99/06/2010

To

THE CEOs OF ALL INSURERS

Anti Money Laundering (AML) Guidelines

A review of AML guidelines has been carried

out to address various issues identified out of

inspections carried out, interactions with FIU-

IND and FATF's Mutual Evaluation and

Assessment process.

2. The following amendments to/clarifications

on the guidelines are issued:

a. Know Your Customer (KYC):Various queries have been raised by insurers

on who can be termed as customer(s) for the

purposes of AML guidelines. Keeping the

objective of the PMLA and AML guidelines in

view, it is hereby clarified that details of the

person who funds/pays for an insurance

contract, either as beneficial owner or

otherwise become relevant and important

Stipulations under clause 3.1 of the AML

guidelines will therefore have to be applied to

such persons. The term customers also refer to

the Proposer/policyholder; Beneficiaries and

Assignee for the purposes of AML guidelines.

At any point in time during the contract period,

where an insurance company is no longer

satisfied that it knows the true identity of the

customer, an STR should be filed with FIU-

IND.

There have been queries on whether due

diligence requirements under clause 3.1.1 (ii)

are to be applied on 'other than individual

entities'. It is clarified that reference to

'individual' policies' to be read to mean

'individual' business. (As 'group' insurance

business falls under clause 3.1.4 and is not covered under AML.

guidelines). It is emphasized that no distinction be made between

'individuals' and 'other than individual entities' for the purposes of

clause 3.1.1

b. Guidance on 'Detailed due diligence':Guidance has been sought on what constitutes detailed due diligence

under clause 3.1.1 (ii) of the AML guidelines. Conducting detailed

due diligence would mean having measures and procedures which

are more rigorous and robust than normal KYC. These measures

should be commensurate to the risk. While it is not intended to be

exhaustive, the following are some of the reasonable measures in

carrying out detailed due diligence:

lMore frequent reviews of the customers activities/

profile/transactions

lApplication of additional measures like gathering information

from Public available. Sources or otherwise

lReview of the proposal/contract by a senior official of the

insurance company etc.,

It is further clarified that detailed due diligence should not be limited

to merely documenting income proofs. Measures laid down should

be in such a way that it would satisfy competent authorities

(Regulatory/enforcement authorities), if need be at a future date, that

due diligence was in fact observed by the insurer in compliance with

the guidelines and the PML Act based on the assessed risk involved in

a transaction/contract.

c. Reduced Customer Due Diligence (CDD) measures:

It is reiterated that while deciding on the extent of due diligence to be

carried out on any customer, risk profile of the product and the

customer should be taken into consideration as indicated at

dause3.1.3 of the AML guidelines.

Notwithstanding the above, detailed due diligence measures should

be applied in the event where there are suspicions of money

laundering or terrorist financing, or where there are factors to indicate

a higher risk.

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d. Establish Sources of Funds:

It has come to the notice of the Authority, there are instances where

merely income proofs are collected as illustrated under Annexure III

of the AML guidelines in compliance with clause 3.1.5. It is clarified

that such documentation does not constitute establishing 'source of

funds'. Insurers should take appropriate measures commensurate

with the assessed risk of customer and product profile as part of their

due diligence measures which may include:

lconducting independent enquiries on the details collected

on/provided by the customer where required,

lconsulting a credible database public or other, etc.,

Relevant records and details must be maintained in such a way that it

enables verification at a later date and support the fact of having

established sources of funds involved in the insurance contract.

e. Assignments to entities regulated by RBI, SEBI, IRDA:

Reference is drawn to clause 3.1.9 (iii) of the AML guidelines.

Notwithstanding the existing stipulation where AML checks gain

relatively lesser importance in cases where the policy has been

assigned to entities regulated by IRDA/RBI/SEBI, insurers are required

to ensure that no vulnerable cases go undetected. Especially where

there is suspicion of money laundering or terrorist financing, or where

there are factors to indicate a higher risk, AML checks will have to

carried out on such assignments and STR should be filed with FIU-

IND, if necessary.

f. Stand on FATF deficient countries:In continuation of our circular letter ref. 30/IRDA/AML/Jan-09 dated

13th January 2009 on FATF's pubUcstatetpentdated28th February

2008, it is hereby advised that special attention should be paid to

business relationships and transactions, especially those which do

not have apparent economic or visible lawful purpose. It is imperative

to conduct detailed due diligence while taking insurance risk

exposure to individuals/entities connected with countries which do

not, or insufficiently apply, the FATF Recommendations. In all such

cases, the background and purpose of such

transactions will as far as possible, have to be

examined and written findings maintained for

assisting competent authorities. Agents/

Corporate agents will have to be appropriately

alerted to ensure compliance with this

stipulation. While using the FATF Public

Statements being circulated through the

Insurance councils, insurers should go beyond

the FATF statements and consider publicly

available information when identifying

countries which do not or insufficiently apply

the FATF Recommendations.

g. Reporting of Counterfeit Currency/Forged

Bank notes (CCR):

Rule 3 (1) (C) of PMLA Rules obligates financial

institutions to report to FIU-IND the following:

'all cash transactions where forged or

counterfeit currency notes or bank notes have

been used as genuine and where any forgery of

a valuable security or a document has taken

place facilitating the transactions'

Insurance companies should therefore report

such transactions within 7 days of

identification to FIU-IND

3. This circular is being issued in exercise of

powers conferred under section 14 (1) (e) of the

Insurance Regulatory and Development

Authority Act, 1999 and would be effective

immediately. Insurance Companies shall

ensure strict compliance.

(R.K. Nair)

Member (F&I)

CIRCULAR7th June, 2010 IRDA/CAGTS/CIR/LCE/093/06/2010

ToAll the Insurers

Re: Inspection of Corporate Agents by the Insurer.

Instances have come to the notice of the Authority that a large number

of firms were floated by the same set of individuals under different or

similar names to act as Corporate Agents. Some of corporate agents

were observed to utilize the services of a large number of people not

having requisite Licence/Certificate to solicit or procure the insurance

business, and paid remuneration for procuring the insurance

business. The Authority has also noticed that some Corporate Agents

have resorted to the use of introducers or finders or sub-agents who, in

fact, sell the insurance contracts and that the Corporate Agents passed

on varying levels of commission to them.

In view of the above market practices, the

Authority hereby orders that the insurers shall

carry out regular, annual on-site Inspection of

the Corporate Agents with whom they have

Corporate Agency Agreement. The process of

Inspection of the Corporate Agents may be

completed by 30th September every year

starting from 2010. The insurer shall submit a

copy of the Inspection Report to the Authority

along with a summary of the violations of

Insurance Act, 1938, IRDA Act, 1999, IRDA

(Licensing of Corporate Agents) Regulations.

2002 and Guidelines/instructions issued by

a) Another Corporate Agent

b) Broker or TPA or

c) Be on the rolls of an insurer as its employees or officer or

Director

5. That the specified person on his ceasing to be an employee of the

corporate agent has surrendered his certificate to the designated

person as required under Regulation 10(6). The said certificate

shall not be used by any other person and needs to be destroyed.

6. That every corporate agent has maintained a register which

contains the name, address, telephone numbers, photographs,

date of commencement of employment, date of leaving the

service, if any, salary paid to the specified person as required

under Regulation 14.

7. That the Group insurance sold through Corporate Agents

complies with the guidelines on group insurance. Circular no.

015/IRDAlLlFE/Circular/GI Guidelines/2005 dated 14-7-2005.

8. That the commission or brokerage paid within the limits on

payment of commission on general insurance business as set in

IRDA Cir 011/IRDA/Brok-comm/Aug 08 dated August 25, 2008.

9. That no payment other than the commission allowed as per law

including administration or servicing charges or payment by any

other name is paid to the agents in respect of the business for

which he is paid agency commission.

10. Where insurance is sold as an ancillary product along with a

product being sold (like any banking product) by any of the major

shareholders or their associates, (who may be Agents or

Corporate Agents of the insurer) verify that the shareholder/s or its

associates has not compelled the buyer of the other product to

necessarily buy the insurance product through such Corporate

Agent.

11. The complete set of records of sale process in respect of the

business solicited by the Corporate Agent, including proposal

forms, copies of policies or certificates of insurance, need

analysis, benefit illustrations and premium register, etc. are

available for the use of insurer as and when required by him and

for any other judicial proceedings.

12. That the agent is complying with See 64VB & Payment of advance

premium or any of the forms specified in IRDA regulations

pertaining to in manner of receipt of premium.

13. That the claims records are maintained by the Corporate Agent to

ensure compliance to Regulation 9 (1) (f), as the agent is expected

to extend all possible help and co-operation to an insured/client

in completion of all formalities and documentation in the event of

a claim.

14. That the agent or any of its persons have not violated the

provisions of section 40A, 41 and 43 of the Insurance Act.

15. That the monthly statistics of business transacted by the

Corporate Agent (At least for the preceding two full financial

years) is in order.

the Authority from time to time with regard to

each corporate agent. The report may be sent

to the corporate agent for placing before their

board. The report shall also be placed before

the Audit Committee and the Board of

Directors of the insurer along with action taken

report. The same shall be made available to

IRDA Inspection team as and when required. A

check list for such inspections is given below.

This checklist is also relevant for individual

agents with substantial distribution business

and may be used by the insurers with

appropriate changes. The insurers may add any

other relevant points to the checklist.

Checklist for on-site Inspection of Corporate

Agents:

A. The insurer shall verify and satisfy himself:1. That the policies are being sold by licensed

agents or specified persons only. This is

critical and compliance shall be in letter

and spirit. It is observed that several

corporate agents are employing army of

distributors by several names, to carry out

actual sales, while the paper work is being

done by a specified person. This practice is

against the section 42 (7) of Insurance Act,

1938 and Serial number 2 of guidelines on

licensing of Corporate agents.

2. The corporate insurance executive and

Specified Person/s of the Corporate Agent

i) Possesses the qualifications as specified

under Regulation 4;

ii) Possesses the practical training as

specified under Regulation 5'

iii) Has passed the examination as specified

under Regulation 6;

iv) Has the requisite knowledge to solicit and

procure Insurance Business; and

v) Is capable of providing the necessary

service to the Policyholders.

vi) That every specified person shall be an

employee of the corporate agent as

required under Regulation 8(2).

3. That the Corporate Agent is acting as

Corporate Agent for only one life or one

non life or both (in case of Composite

Corporate Agency).

4. That no director of a company or a partner of

a firm or the chief executive or a corporate

insurance executive or a specified person

shall hold any position with

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d. Establish Sources of Funds:

It has come to the notice of the Authority, there are instances where

merely income proofs are collected as illustrated under Annexure III

of the AML guidelines in compliance with clause 3.1.5. It is clarified

that such documentation does not constitute establishing 'source of

funds'. Insurers should take appropriate measures commensurate

with the assessed risk of customer and product profile as part of their

due diligence measures which may include:

lconducting independent enquiries on the details collected

on/provided by the customer where required,

lconsulting a credible database public or other, etc.,

Relevant records and details must be maintained in such a way that it

enables verification at a later date and support the fact of having

established sources of funds involved in the insurance contract.

e. Assignments to entities regulated by RBI, SEBI, IRDA:

Reference is drawn to clause 3.1.9 (iii) of the AML guidelines.

Notwithstanding the existing stipulation where AML checks gain

relatively lesser importance in cases where the policy has been

assigned to entities regulated by IRDA/RBI/SEBI, insurers are required

to ensure that no vulnerable cases go undetected. Especially where

there is suspicion of money laundering or terrorist financing, or where

there are factors to indicate a higher risk, AML checks will have to

carried out on such assignments and STR should be filed with FIU-

IND, if necessary.

f. Stand on FATF deficient countries:In continuation of our circular letter ref. 30/IRDA/AML/Jan-09 dated

13th January 2009 on FATF's pubUcstatetpentdated28th February

2008, it is hereby advised that special attention should be paid to

business relationships and transactions, especially those which do

not have apparent economic or visible lawful purpose. It is imperative

to conduct detailed due diligence while taking insurance risk

exposure to individuals/entities connected with countries which do

not, or insufficiently apply, the FATF Recommendations. In all such

cases, the background and purpose of such

transactions will as far as possible, have to be

examined and written findings maintained for

assisting competent authorities. Agents/

Corporate agents will have to be appropriately

alerted to ensure compliance with this

stipulation. While using the FATF Public

Statements being circulated through the

Insurance councils, insurers should go beyond

the FATF statements and consider publicly

available information when identifying

countries which do not or insufficiently apply

the FATF Recommendations.

g. Reporting of Counterfeit Currency/Forged

Bank notes (CCR):

Rule 3 (1) (C) of PMLA Rules obligates financial

institutions to report to FIU-IND the following:

'all cash transactions where forged or

counterfeit currency notes or bank notes have

been used as genuine and where any forgery of

a valuable security or a document has taken

place facilitating the transactions'

Insurance companies should therefore report

such transactions within 7 days of

identification to FIU-IND

3. This circular is being issued in exercise of

powers conferred under section 14 (1) (e) of the

Insurance Regulatory and Development

Authority Act, 1999 and would be effective

immediately. Insurance Companies shall

ensure strict compliance.

(R.K. Nair)

Member (F&I)

CIRCULAR7th June, 2010 IRDA/CAGTS/CIR/LCE/093/06/2010

ToAll the Insurers

Re: Inspection of Corporate Agents by the Insurer.

Instances have come to the notice of the Authority that a large number

of firms were floated by the same set of individuals under different or

similar names to act as Corporate Agents. Some of corporate agents

were observed to utilize the services of a large number of people not

having requisite Licence/Certificate to solicit or procure the insurance

business, and paid remuneration for procuring the insurance

business. The Authority has also noticed that some Corporate Agents

have resorted to the use of introducers or finders or sub-agents who, in

fact, sell the insurance contracts and that the Corporate Agents passed

on varying levels of commission to them.

In view of the above market practices, the

Authority hereby orders that the insurers shall

carry out regular, annual on-site Inspection of

the Corporate Agents with whom they have

Corporate Agency Agreement. The process of

Inspection of the Corporate Agents may be

completed by 30th September every year

starting from 2010. The insurer shall submit a

copy of the Inspection Report to the Authority

along with a summary of the violations of

Insurance Act, 1938, IRDA Act, 1999, IRDA

(Licensing of Corporate Agents) Regulations.

2002 and Guidelines/instructions issued by

a) Another Corporate Agent

b) Broker or TPA or

c) Be on the rolls of an insurer as its employees or officer or

Director

5. That the specified person on his ceasing to be an employee of the

corporate agent has surrendered his certificate to the designated

person as required under Regulation 10(6). The said certificate

shall not be used by any other person and needs to be destroyed.

6. That every corporate agent has maintained a register which

contains the name, address, telephone numbers, photographs,

date of commencement of employment, date of leaving the

service, if any, salary paid to the specified person as required

under Regulation 14.

7. That the Group insurance sold through Corporate Agents

complies with the guidelines on group insurance. Circular no.

015/IRDAlLlFE/Circular/GI Guidelines/2005 dated 14-7-2005.

8. That the commission or brokerage paid within the limits on

payment of commission on general insurance business as set in

IRDA Cir 011/IRDA/Brok-comm/Aug 08 dated August 25, 2008.

9. That no payment other than the commission allowed as per law

including administration or servicing charges or payment by any

other name is paid to the agents in respect of the business for

which he is paid agency commission.

10. Where insurance is sold as an ancillary product along with a

product being sold (like any banking product) by any of the major

shareholders or their associates, (who may be Agents or

Corporate Agents of the insurer) verify that the shareholder/s or its

associates has not compelled the buyer of the other product to

necessarily buy the insurance product through such Corporate

Agent.

11. The complete set of records of sale process in respect of the

business solicited by the Corporate Agent, including proposal

forms, copies of policies or certificates of insurance, need

analysis, benefit illustrations and premium register, etc. are

available for the use of insurer as and when required by him and

for any other judicial proceedings.

12. That the agent is complying with See 64VB & Payment of advance

premium or any of the forms specified in IRDA regulations

pertaining to in manner of receipt of premium.

13. That the claims records are maintained by the Corporate Agent to

ensure compliance to Regulation 9 (1) (f), as the agent is expected

to extend all possible help and co-operation to an insured/client

in completion of all formalities and documentation in the event of

a claim.

14. That the agent or any of its persons have not violated the

provisions of section 40A, 41 and 43 of the Insurance Act.

15. That the monthly statistics of business transacted by the

Corporate Agent (At least for the preceding two full financial

years) is in order.

the Authority from time to time with regard to

each corporate agent. The report may be sent

to the corporate agent for placing before their

board. The report shall also be placed before

the Audit Committee and the Board of

Directors of the insurer along with action taken

report. The same shall be made available to

IRDA Inspection team as and when required. A

check list for such inspections is given below.

This checklist is also relevant for individual

agents with substantial distribution business

and may be used by the insurers with

appropriate changes. The insurers may add any

other relevant points to the checklist.

Checklist for on-site Inspection of Corporate

Agents:

A. The insurer shall verify and satisfy himself:1. That the policies are being sold by licensed

agents or specified persons only. This is

critical and compliance shall be in letter

and spirit. It is observed that several

corporate agents are employing army of

distributors by several names, to carry out

actual sales, while the paper work is being

done by a specified person. This practice is

against the section 42 (7) of Insurance Act,

1938 and Serial number 2 of guidelines on

licensing of Corporate agents.

2. The corporate insurance executive and

Specified Person/s of the Corporate Agent

i) Possesses the qualifications as specified

under Regulation 4;

ii) Possesses the practical training as

specified under Regulation 5'

iii) Has passed the examination as specified

under Regulation 6;

iv) Has the requisite knowledge to solicit and

procure Insurance Business; and

v) Is capable of providing the necessary

service to the Policyholders.

vi) That every specified person shall be an

employee of the corporate agent as

required under Regulation 8(2).

3. That the Corporate Agent is acting as

Corporate Agent for only one life or one

non life or both (in case of Composite

Corporate Agency).

4. That no director of a company or a partner of

a firm or the chief executive or a corporate

insurance executive or a specified person

shall hold any position with

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16. Verify the audited accounts along with the schedules of the

Corporate Agent. (At least for the preceding two full financial

years). This audit shall, inter alia establish that the commission is

not shared down the line and that all the specified persons and

other employees do not get any share of the commission.

B. The Inspection should verify on the date of Inspection that:

1. Corporate insurance executive is not a minor.

2. Corporate insurance executive has not been found to be of

unsound mind by a court of competent jurisdiction;

3. Corporate insurance executive has not been found guilty of

criminal misappropriation or criminal breach of trust or cheating

or forgery or an abetment of or attempt to commit any such

offence by a court of competent jurisdiction;

4. Corporate insurance executive has not been found guilty of or to

have knowingly participated in or connived at any fraud.

dishonesty or misrepresentation against an insurer or an insured

in the course of any judicial proceeding relating to any policy of

insurance or the winding up of an insurance company or in the

course of an investigation of the affairs of an insurer;

5. Corporate insurance executive has not violated the code of

conduct specified under Regulation 9 of Insurance Regulatory

and Development Authority (Licensing of

Corporate Agents) Regulations. 2002;

C. Inspect the status of compliance of

relevant Regulation 3, 4, 6, 8, 12, 13 of

IRDA (Insurance Advertisements and

disclosure) Regulations, 2000 and

recommend action under regulation 11 of

the said regulations.

D. Inspect the conduct of agents in respect of

compliance of IRDA (Protection of

Policyholders' interests) Regulations,

2002. In respect of matters pertaining to

proposal from prospectus; point of sale;

claims servicing & other general

parameters of policy holders servicing

including their duties to address the

policyholder's complaints.

The above list is only illustrative and not

exhaustive. The Insurers may add any

other relevant item to the above list which

they deem fit in this regard.

A. Giridhar

Executive Director

CIRCULARJune 28, 2010 Cir. No. IRDA/ACT/CIR/ULIP/102/06/2010

To CEOs of All Life Insurance Companies

Sub: Unit Linked Insurance Products (ULIPs)

Please refer following circulars:

1. IRDA/Actl/032/ Dec 2005 dated December 21, 2005 and

subsequent clarifications issued

2. 061/IRDA/Actl/March-2008 dated 12th March, 2008

3. IRDA/Actl/ULIP/055/2009-10 dated 24th September, 2009,

4. IRDA/Actl/CIR/ULIP/071/066/04/2010 dated 27th April, 2010

and

5. IRDA/Actl/CIR/ULIP/071/05/2010 dated 3rd May, 2010

In order to meet the emerging needs of prospective insurance

policyholders, this circular specifies certain elements which shall be

incorporated in all ULIPs which may be offered for sale to the public

commencing from September 1, 2010.

1. The three year lock-in period for all Unit Linked Products will be

increased to a period of five years, including top-up premiums.

During this period, no residuary payments on policies which are

lapsed/surrendered/discontinued will be made. The residuary

payments for policies arising out of policies which stand

lapsed/surrendered/discontinued during the lock-in period shall

be payable on the expiry of the lock in

period and in accordance with the

relevant Regulations of IRDA.

2. All regular premium/limited premium

ULIPs shall have uniform/level paying

premiums. Any additional payments shall

be treated as single premium for the

purpose of insurance cover.

3. All limited premium unit linked insurance

products, other than single premium

products, shall have premium paying term

of at least 5 years.

4. The insurers shall distribute the overall

charges, in ULIPs in an even fashion

during the lock-in period.

5. All unit linked products, other than

pension and annuity products shall

provide a minimum mortality cover or a

health cover, as indicated below:

6. All top-up premiums made during the

currency of the contract, except for

pension/annuity products, must have

Minimum Sum assured for age at entry of below 45

years

Single Premium (SP) contracts: 125 percent of single

premium.

Regular Premium (RP) including limited premium paying

(LPP) contracts: 10 times the annualized premiums or

(0.5 X T X annualized premium) whichever is higher. At

no time the death benefit shall be less than 105 percent of

the total premiums (including top-ups) paid.

(i ) Minimum mortality cover should be as follows:

Minimum Sum assured for age at entry of below 45

years

Single Premium (SP) contracts: 110 percent of single

premium

Regular Premium (RP) including limited premium paying

(LPP) contracts: 7 times the annualized premiums or

(0.25 X T X annualized premium) whichever is higher. At

no time the death benefit shall be less than 105 percent of

the total premiums (including top-ups) paid.

(In case of whole life contracts, term (T) shall be taken as 70 minus age at entry)

Minimum annual health cover for age at entry of below

45 years

Regular Premium (RP) contracts: 5 times the annualized

premiums or Rs. 100,000 per annum whichever is

higher.

At no time the annual health cover shall be less than 105

percent of the total premiums paid.

(ii) The minimum health cover per annum should be as follows:

Minimum annual health cover for age at entry of below

45 years

Regular Premium (RP) contracts: 5times the annualized

premiums or Rs. 75,000 per annum whichever is higher.

At no time the annual health cover shall be less than 105

percent of the total premiums paid

insurance cover treating them as single

premium, as per above table.

7. The accumulated fund value of unit linked

pension/annuity products is the fund value

as on the maturity date. All ULIP

pension/annuity products shall offer a

minimum guaranteed return of 4.5 per

cent per annum or as specified by IRDA

from time to time, on the maturity date.

This guaranteed return is applicable on the

maturity date, for policies where all due

premiums are paid. Mortality and/or

health cover could be offered along with

the pension/annuity products as riders,

giving enough flexibility for the

policyholders to select covers of their

choice.

8. In the case of unit linked pension/annuity

products, no partial withdrawal shall be

allowed during the accumulation phase

and the insurer shall convert the

accumulated fund value into an annuity at

the vesting date. However, the insured

will have an option to commute up to a

maximum of one-third of the accumulated

value as lump sum at the time of vesting. In

the case of surrender, only a maximum of

one-third of the surrender value can be commuted after the lock-

in period. The remaining amount 2 must be used to purchase an

annuity, subject to the provisions of Section 4 of Insurance Act,

1938.

9. Vide circular 3rd cited above, caps on charges were fixed on Unit

Linked contracts with a tenor of 10 years or less and for those with

tenor above 10 years. However, taking into account the

discontinuance/lapsation/surrender behavior and with a view to

smoothen the cap on charges, the following limits are prescribed

starting from the 5th policy anniversary:

Annualized Premiums Paid Maximum reduction in yield

(Difference between Gross and

Net Yield (% pa))

5 4.00%

6 3.75%

7 3.50%

8 3.30%

9 3.15%

10 3.00%

11 and 12 2.75 %

13 and 14 2.50 %

15 and thereafter 2.25 %

10.The net reduction in yield for policies with term less than or equal

to 10 years shall not be more than 3.00% at maturity. For policies

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16. Verify the audited accounts along with the schedules of the

Corporate Agent. (At least for the preceding two full financial

years). This audit shall, inter alia establish that the commission is

not shared down the line and that all the specified persons and

other employees do not get any share of the commission.

B. The Inspection should verify on the date of Inspection that:

1. Corporate insurance executive is not a minor.

2. Corporate insurance executive has not been found to be of

unsound mind by a court of competent jurisdiction;

3. Corporate insurance executive has not been found guilty of

criminal misappropriation or criminal breach of trust or cheating

or forgery or an abetment of or attempt to commit any such

offence by a court of competent jurisdiction;

4. Corporate insurance executive has not been found guilty of or to

have knowingly participated in or connived at any fraud.

dishonesty or misrepresentation against an insurer or an insured

in the course of any judicial proceeding relating to any policy of

insurance or the winding up of an insurance company or in the

course of an investigation of the affairs of an insurer;

5. Corporate insurance executive has not violated the code of

conduct specified under Regulation 9 of Insurance Regulatory

and Development Authority (Licensing of

Corporate Agents) Regulations. 2002;

C. Inspect the status of compliance of

relevant Regulation 3, 4, 6, 8, 12, 13 of

IRDA (Insurance Advertisements and

disclosure) Regulations, 2000 and

recommend action under regulation 11 of

the said regulations.

D. Inspect the conduct of agents in respect of

compliance of IRDA (Protection of

Policyholders' interests) Regulations,

2002. In respect of matters pertaining to

proposal from prospectus; point of sale;

claims servicing & other general

parameters of policy holders servicing

including their duties to address the

policyholder's complaints.

The above list is only illustrative and not

exhaustive. The Insurers may add any

other relevant item to the above list which

they deem fit in this regard.

A. Giridhar

Executive Director

CIRCULARJune 28, 2010 Cir. No. IRDA/ACT/CIR/ULIP/102/06/2010

To CEOs of All Life Insurance Companies

Sub: Unit Linked Insurance Products (ULIPs)

Please refer following circulars:

1. IRDA/Actl/032/ Dec 2005 dated December 21, 2005 and

subsequent clarifications issued

2. 061/IRDA/Actl/March-2008 dated 12th March, 2008

3. IRDA/Actl/ULIP/055/2009-10 dated 24th September, 2009,

4. IRDA/Actl/CIR/ULIP/071/066/04/2010 dated 27th April, 2010

and

5. IRDA/Actl/CIR/ULIP/071/05/2010 dated 3rd May, 2010

In order to meet the emerging needs of prospective insurance

policyholders, this circular specifies certain elements which shall be

incorporated in all ULIPs which may be offered for sale to the public

commencing from September 1, 2010.

1. The three year lock-in period for all Unit Linked Products will be

increased to a period of five years, including top-up premiums.

During this period, no residuary payments on policies which are

lapsed/surrendered/discontinued will be made. The residuary

payments for policies arising out of policies which stand

lapsed/surrendered/discontinued during the lock-in period shall

be payable on the expiry of the lock in

period and in accordance with the

relevant Regulations of IRDA.

2. All regular premium/limited premium

ULIPs shall have uniform/level paying

premiums. Any additional payments shall

be treated as single premium for the

purpose of insurance cover.

3. All limited premium unit linked insurance

products, other than single premium

products, shall have premium paying term

of at least 5 years.

4. The insurers shall distribute the overall

charges, in ULIPs in an even fashion

during the lock-in period.

5. All unit linked products, other than

pension and annuity products shall

provide a minimum mortality cover or a

health cover, as indicated below:

6. All top-up premiums made during the

currency of the contract, except for

pension/annuity products, must have

Minimum Sum assured for age at entry of below 45

years

Single Premium (SP) contracts: 125 percent of single

premium.

Regular Premium (RP) including limited premium paying

(LPP) contracts: 10 times the annualized premiums or

(0.5 X T X annualized premium) whichever is higher. At

no time the death benefit shall be less than 105 percent of

the total premiums (including top-ups) paid.

(i ) Minimum mortality cover should be as follows:

Minimum Sum assured for age at entry of below 45

years

Single Premium (SP) contracts: 110 percent of single

premium

Regular Premium (RP) including limited premium paying

(LPP) contracts: 7 times the annualized premiums or

(0.25 X T X annualized premium) whichever is higher. At

no time the death benefit shall be less than 105 percent of

the total premiums (including top-ups) paid.

(In case of whole life contracts, term (T) shall be taken as 70 minus age at entry)

Minimum annual health cover for age at entry of below

45 years

Regular Premium (RP) contracts: 5 times the annualized

premiums or Rs. 100,000 per annum whichever is

higher.

At no time the annual health cover shall be less than 105

percent of the total premiums paid.

(ii) The minimum health cover per annum should be as follows:

Minimum annual health cover for age at entry of below

45 years

Regular Premium (RP) contracts: 5times the annualized

premiums or Rs. 75,000 per annum whichever is higher.

At no time the annual health cover shall be less than 105

percent of the total premiums paid

insurance cover treating them as single

premium, as per above table.

7. The accumulated fund value of unit linked

pension/annuity products is the fund value

as on the maturity date. All ULIP

pension/annuity products shall offer a

minimum guaranteed return of 4.5 per

cent per annum or as specified by IRDA

from time to time, on the maturity date.

This guaranteed return is applicable on the

maturity date, for policies where all due

premiums are paid. Mortality and/or

health cover could be offered along with

the pension/annuity products as riders,

giving enough flexibility for the

policyholders to select covers of their

choice.

8. In the case of unit linked pension/annuity

products, no partial withdrawal shall be

allowed during the accumulation phase

and the insurer shall convert the

accumulated fund value into an annuity at

the vesting date. However, the insured

will have an option to commute up to a

maximum of one-third of the accumulated

value as lump sum at the time of vesting. In

the case of surrender, only a maximum of

one-third of the surrender value can be commuted after the lock-

in period. The remaining amount 2 must be used to purchase an

annuity, subject to the provisions of Section 4 of Insurance Act,

1938.

9. Vide circular 3rd cited above, caps on charges were fixed on Unit

Linked contracts with a tenor of 10 years or less and for those with

tenor above 10 years. However, taking into account the

discontinuance/lapsation/surrender behavior and with a view to

smoothen the cap on charges, the following limits are prescribed

starting from the 5th policy anniversary:

Annualized Premiums Paid Maximum reduction in yield

(Difference between Gross and

Net Yield (% pa))

5 4.00%

6 3.75%

7 3.50%

8 3.30%

9 3.15%

10 3.00%

11 and 12 2.75 %

13 and 14 2.50 %

15 and thereafter 2.25 %

10.The net reduction in yield for policies with term less than or equal

to 10 years shall not be more than 3.00% at maturity. For policies

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CIRCULAR07th June, 2010 IRDA/CAGTS/CIR/LCE/092/06/2010

ToAll the insurers

Re: Transfer of Corporate Agency from one Insurer to another.

IRDA has issued instructions vide its Circular Ref: 31/IRDA/CA/CIR/

SEP09 dated 02.09.09 to all the Insurers and Agents/Corporate Agents

on the steps be taken to ensure the policyholders' interest are

protected before issuing 'No Objection Certificate' to the Agent/

Corporate Agent who is leaving their organization.

In order to bring in uniformity in processing the applications for

transfer of Corporate Agency, the following procedure shall be

adopted by all the Insurers.

1. The decision to engage any 'Person' who is holding a valid

License to act as Corporate Agent, on transfer from other insurer,

will be taken only in the Corporate Office of the Insurance

Company.

2. The proceedings appointing the 'Person' as Corporate Agent will

be issued by the CEO/CFO/Chief Marketing/Sales Officer, Chief

of Channel Operations etc, designated for that purpose by the

board.

3. The Officer so designated shall carry out due diligence of the

Corporate Agent with whom they are proposing to enter into a

Corporate Agency Agreement and record the same while taking a

decision to engage the services of that Corporate Agent.

4. The Officer so designated shall obtain and. record, from all the

available sources, the reasons leading to cancellation of

Corporate Agency Agreement with the earlier Insurer.

5. The Officer so designated shall fully satisfy and record that the

provisions of Point No.4 of the Circular Ref: 31/IRDA/CA/

CIR/SEP09 dated 02.09.09 are complied by the Corporate Agent.

6. The Officer so designated shall obtain, prior to entering into an

agreement, all the periodical returns mentioned at Point Nos.24,

25 & 26 of the Guidelines on Licensing of

Corporate Agents issued vide IRDA

Circular Ref: 017/IRDA/Circuiar/CA

Gudelines/2005 dated 14th July, 2005 for

at least two preceding financial years from

the Corporate Agents who are intending to

have a Corporate Agency agreement with

them.

7. The Officer so designated shall be

responsible for ensuring that the Corporate

Agents comply with the relevant

provisions of the Insurance Act, 1938,

IRDA Act, 1999, Regulations/Guidelines

and instructions issued by the Authority

from time to time.

8. These guidelines shall form part of Cir

017/IRDA/Circular/CA Gudilenes/2005

dated 14th July, 2005 and further

Circulars/instructions issued from time to

time.

9. All the insurers are here by directed to

notify IRDA, details of designated officer

so designated for Licensing of Corporate

Agents on or before 30.06.2010.

A. Giridhar

Executive Director

vantage point

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- Managing Claims Efficiently

Using the Right Discretion

'While it is very essential for the insurers to weed out fraudulent claims, they should be

careful in ensuring that genuine claims are not repudiated indiscriminately which

could lead to the detriment of the industry' says U. Jawaharlal.

The debate on claims management is a never-ending one. If not for the

adverse claims ratios that has become a perennial feature for various

classes of business, the continuing nature of the controversies

associated with insurance claims begs a frequent revisiting. It is not

unusual to observe that many of the disputes that lead to a legal

intervention end up against the insurers. Is it that the courts take a

lenient view of the low awareness levels of the insuring public and

hence support them; or that insurers are necessarily at the wrong end

of the case; or a combination of both? In any case, if it has become a

trend; there is strong reason to look for avenues to arrest the trend.

On the part of the insurers, it is necessary to be transparent in laying

down the terms of the contract; and where the policyholder is not

given to understand the terms easily, put in place measures to be

additionally explicit so that controversies at a later stage are reduced.

It has been uttered and written ad nauseum that absolute openness at

the beginning of the contract would certainly lead to a drastic

reduction of claims related disputes. We all need to look back and

analyze whether we have achieved any progress in this regard.

The element of fraudulent claims is a bothersome factor affecting the

health of claims ratios. Managements should work on keeping in

place efficient systems to fight this evil. One thing that stands out in

this regard is the weak punitive action that is meted out to a willful

fraudulent claimant – thereby almost encouraging the average

individual to take a chance. How often does this happen in a more

advanced society where one is conscious of the deterrent punishment

that is in store for such a fraudulent attempt? Particularly, when it is

observed that there is either a direct or a tacit support of an insider;

necessary stringent action should be taken. White collar crime sounds

a death knell – for an organization, and for the

society at large; and should be unpardonable.

The incidence of additional hazards has to be

addressed properly in order that both the

selection and the classification of such risks are

made objectively. While physical hazards call

for being compensated properly, the real threat

comes from the moral hazard which no

amount of additional premium can

compensate. Insurers would however do well

not to be over-zealous in accepting/rejecting

risks as also in the admission and repudiation

of claims. An indiscriminate rejection of a

claim for an inadvertent lapse on the part of an

average policyholder is bound to dent the

confidence of the policyholder community.

There is need for insurers to be additionally

alert in identifying fraudulent elements from

genuine policyholders. In a nutshell,

fraudulent claims as also excessive claims are a

big drain on the resources of an insurer and

lead to their bleeding. There must be effective

practices in place to keep a check on such

claims in order that managements can boast of

healthy claims ratios.

'Claims Management' will be the focus of the

next issue of the Journal. We will look at some

areas that have not been covered earlier.

Claims Managementin the next issue...

with term above 10 years, the net reduction in yield at maturity

shall not be more than 2.25%.

11.The maximum loan amount that can be sanctioned under any

ULIP policy shall not exceed 40% of the net asset value in those

products where equity accounts for more than 60% of the total

share and shall not exceed 50% of the net asset value of those

products where debt instruments accounts for more than 60% of

the total share.

12. Circular No: 2 cited above will stand superseded by this circular

and circular numbers 1, 3, 4 and 5 will stand modified to the

extent prescribed in this circular.

13. All insurers are directed to conform to

these features so that they can introduce

the products with due approval from

IRDA. From September 1, 2010 all unit

linked products offered for sale shall

conform to this circular,

R. Kannan

Member (Actuary)

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CIRCULAR07th June, 2010 IRDA/CAGTS/CIR/LCE/092/06/2010

ToAll the insurers

Re: Transfer of Corporate Agency from one Insurer to another.

IRDA has issued instructions vide its Circular Ref: 31/IRDA/CA/CIR/

SEP09 dated 02.09.09 to all the Insurers and Agents/Corporate Agents

on the steps be taken to ensure the policyholders' interest are

protected before issuing 'No Objection Certificate' to the Agent/

Corporate Agent who is leaving their organization.

In order to bring in uniformity in processing the applications for

transfer of Corporate Agency, the following procedure shall be

adopted by all the Insurers.

1. The decision to engage any 'Person' who is holding a valid

License to act as Corporate Agent, on transfer from other insurer,

will be taken only in the Corporate Office of the Insurance

Company.

2. The proceedings appointing the 'Person' as Corporate Agent will

be issued by the CEO/CFO/Chief Marketing/Sales Officer, Chief

of Channel Operations etc, designated for that purpose by the

board.

3. The Officer so designated shall carry out due diligence of the

Corporate Agent with whom they are proposing to enter into a

Corporate Agency Agreement and record the same while taking a

decision to engage the services of that Corporate Agent.

4. The Officer so designated shall obtain and. record, from all the

available sources, the reasons leading to cancellation of

Corporate Agency Agreement with the earlier Insurer.

5. The Officer so designated shall fully satisfy and record that the

provisions of Point No.4 of the Circular Ref: 31/IRDA/CA/

CIR/SEP09 dated 02.09.09 are complied by the Corporate Agent.

6. The Officer so designated shall obtain, prior to entering into an

agreement, all the periodical returns mentioned at Point Nos.24,

25 & 26 of the Guidelines on Licensing of

Corporate Agents issued vide IRDA

Circular Ref: 017/IRDA/Circuiar/CA

Gudelines/2005 dated 14th July, 2005 for

at least two preceding financial years from

the Corporate Agents who are intending to

have a Corporate Agency agreement with

them.

7. The Officer so designated shall be

responsible for ensuring that the Corporate

Agents comply with the relevant

provisions of the Insurance Act, 1938,

IRDA Act, 1999, Regulations/Guidelines

and instructions issued by the Authority

from time to time.

8. These guidelines shall form part of Cir

017/IRDA/Circular/CA Gudilenes/2005

dated 14th July, 2005 and further

Circulars/instructions issued from time to

time.

9. All the insurers are here by directed to

notify IRDA, details of designated officer

so designated for Licensing of Corporate

Agents on or before 30.06.2010.

A. Giridhar

Executive Director

vantage point

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- Managing Claims Efficiently

Using the Right Discretion

'While it is very essential for the insurers to weed out fraudulent claims, they should be

careful in ensuring that genuine claims are not repudiated indiscriminately which

could lead to the detriment of the industry' says U. Jawaharlal.

The debate on claims management is a never-ending one. If not for the

adverse claims ratios that has become a perennial feature for various

classes of business, the continuing nature of the controversies

associated with insurance claims begs a frequent revisiting. It is not

unusual to observe that many of the disputes that lead to a legal

intervention end up against the insurers. Is it that the courts take a

lenient view of the low awareness levels of the insuring public and

hence support them; or that insurers are necessarily at the wrong end

of the case; or a combination of both? In any case, if it has become a

trend; there is strong reason to look for avenues to arrest the trend.

On the part of the insurers, it is necessary to be transparent in laying

down the terms of the contract; and where the policyholder is not

given to understand the terms easily, put in place measures to be

additionally explicit so that controversies at a later stage are reduced.

It has been uttered and written ad nauseum that absolute openness at

the beginning of the contract would certainly lead to a drastic

reduction of claims related disputes. We all need to look back and

analyze whether we have achieved any progress in this regard.

The element of fraudulent claims is a bothersome factor affecting the

health of claims ratios. Managements should work on keeping in

place efficient systems to fight this evil. One thing that stands out in

this regard is the weak punitive action that is meted out to a willful

fraudulent claimant – thereby almost encouraging the average

individual to take a chance. How often does this happen in a more

advanced society where one is conscious of the deterrent punishment

that is in store for such a fraudulent attempt? Particularly, when it is

observed that there is either a direct or a tacit support of an insider;

necessary stringent action should be taken. White collar crime sounds

a death knell – for an organization, and for the

society at large; and should be unpardonable.

The incidence of additional hazards has to be

addressed properly in order that both the

selection and the classification of such risks are

made objectively. While physical hazards call

for being compensated properly, the real threat

comes from the moral hazard which no

amount of additional premium can

compensate. Insurers would however do well

not to be over-zealous in accepting/rejecting

risks as also in the admission and repudiation

of claims. An indiscriminate rejection of a

claim for an inadvertent lapse on the part of an

average policyholder is bound to dent the

confidence of the policyholder community.

There is need for insurers to be additionally

alert in identifying fraudulent elements from

genuine policyholders. In a nutshell,

fraudulent claims as also excessive claims are a

big drain on the resources of an insurer and

lead to their bleeding. There must be effective

practices in place to keep a check on such

claims in order that managements can boast of

healthy claims ratios.

'Claims Management' will be the focus of the

next issue of the Journal. We will look at some

areas that have not been covered earlier.

Claims Managementin the next issue...

with term above 10 years, the net reduction in yield at maturity

shall not be more than 2.25%.

11.The maximum loan amount that can be sanctioned under any

ULIP policy shall not exceed 40% of the net asset value in those

products where equity accounts for more than 60% of the total

share and shall not exceed 50% of the net asset value of those

products where debt instruments accounts for more than 60% of

the total share.

12. Circular No: 2 cited above will stand superseded by this circular

and circular numbers 1, 3, 4 and 5 will stand modified to the

extent prescribed in this circular.

13. All insurers are directed to conform to

these features so that they can introduce

the products with due approval from

IRDA. From September 1, 2010 all unit

linked products offered for sale shall

conform to this circular,

R. Kannan

Member (Actuary)

issue focus

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Yegnapriya Bharat emphasizes the need for better policyholder education in order that

the overall levels of policyholder protection take a quantum jump.

Changing the Way Insurance is Transacted- Enabling Policyholder Protection

The insurance sector is rapidly moving towards a scenario wherein

the maxim –'Insurance is sold and not bought' would soon fade away.

The consumer and market dynamics; and the regulatory interventions

triggered by them would ensure that insurance is bought rather than

sold.

One of the most important components of a sound and competitive

insurance market is effective policyholder protection. Where this is

lacking, prospects and policyholders would be exposed to unfair

treatment by insurers. They would become an easy prey to abusive

market practices, especially when the products are complex. The

crux of the problem, from the consumer protection point of view, is

the imbalance of the power, information and resources between

policyholders and insurers. Prospects and policyholders are at a

disadvantage though theoretically (and sometimes in practice), the

information asymmetry may work the other way round as well.

However, most times it is the policyholder who is vulnerable to the

asymmetry.

The Regulator, therefore, has the duty of not only preventing market

failure but also ensuring that there is no imbalance or asymmetry in it.

A pre-requisite for this is a well designed policyholder protection

framework. The Insurance Regulatory and

Development Authority (IRDA) has ensured

that such a framework, in the form of

regulations, guidelines, circulars etc, is in

place. While the basic framework to some

extent could remain static, the dynamic

elements created by the ever changing market

scenario need periodical review and revisiting.

IRDA has been carrying this out to meet the

new challenges and concerns that are created

in the market for the policyholder.

TransparencyConsumer protection is deemed to have

succeeded if certain basic parameters are

achieved. The primary one is transparency in

transactions. This cannot be truer for

insurance. A prospect should be provided with

full, plain, adequate and comparable

information about the rates, terms and

conditions, risks involved etc. There should be

utmost transparency at the time of sale and

promotion so that the policyholder is made to

feel confident that he or she is being given

complete information regarding the product.

Provision of clear and complete information

about products is not only a fundamental

expectation but also a necessity, to ensure fair

treatment to policyholders by insurance

companies. The IRDA (Protection of

Policyholders Interest) Regulations, 2002

define the obligations of insurers and

intermediaries regarding matters to be stated in

life and general insurance policy and lay down

time-frames for compliance of various

policyholder servicing parameters covering

the life cycle of the insurance product, from

sale to servicing - including claims servicing.

The regulations for the intermediaries—agents,

corporate agents and brokers, among other

things, lay down the Code of Conduct

including at the point of sale. The IRDA

(Insurance Advertisement and Disclosure)

Regulations, 2000 address advertising and

disclosure requirements at the point of sale.

The File and Use procedure of IRDA is also a

drill from the point of view of product

simplicity and its understanding, apart from

other parameters. One of the recent initiatives

of IRDA, to ensure that clear information

regarding products is given to the prospect or

policyholder in a way he or she can

understand, is the proposal to introduce Key

Feature Document (KFD) in simple language.

The test of a KFD is whether or not the target

customer for a particular product understands

its main features and is able to take a decision

as to whether the product is suitable for him or

her. A KFD would also ensure disclosure by

insurers of other important information such as

premium details, payment modes, various

charges, risks involved, what happens in the

event of discontinuance etc.

Sales and Distribution

Another important element of policyholder

protection is that insurers and intermediaries

shall be non-coercive while selling. Not only

shall they be non-coercive but more

importantly, they shall not mis-sell. The

Policyholder Protection Regulations, and

regulations for the various intermediaries,

brought out by IRDA are geared to address

these issues. However, given the complexity of

some of the products, IRDA felt the need for

more specific solutions for mis-selling.

IRDA has taken certain initiatives in further

tightening the policyholder protection norms

by amendment of regulation. There are several

distribution related improvements which

ensure that there is no scope for the

involvement of unlicensed personnel or

entities in the sale of insurance products. Any

scope for payment of any remuneration other

than commission where sale has been effected

has been eliminated by amending regulations.

These measures will reduce the expenses of

the insurers, thereby lowering the premiums to

be paid by the policyholder. Further, IRDA has

also addressed the issue of referrals with the

proposed IRDA (Sharing of database for

distribution of insurance products) Regulations, 2010 that will ensure

that sale process is as per the standards prescribed.

Needs Analysis is another initiative identified by IRDA as a step in

curbing wrong advice and mis-selling. The proposed guidelines to

deal with issues relating to distance marketing would address new

challenges of mis-selling that have cropped up with the advancement

of technology. While the benefits of having new and faster channels

need to be reaped, the loopholes created by them need plugging. This

is precisely what the draft guidelines on the subject propose to do.

Fair Treatment While liberalization has helped create choice, there is need to ensure

that in the name of choice, the policyholder is not inundated with

unwanted product information or ill fitting products. Insurers shall

offer stable, well designed specific products that are useful to the

consumers, meeting their needs. The terms and conditions of the

product shall ensure fair treatment to the policyholder. The Regulator

steps in, wherever required, to ensure this. Recently, IRDA has taken

several steps with regard to the product structure of ULIPs to clearly

position them as long term savings cum insurance instruments rather

than as short term speculative products. This kind of product

differentiation will ensure that the insurers have very little scope to

position them differently than what these products are.

Further, all limited premium unit linked insurance products, other

than single premium products shall have premium paying term of at

least five years. All unit linked products, other than pension and

annuity products shall provide a mortality cover or a health cover

thereby increasing the risk cover component in such products. The

minimum cover to be offered has been specified for these segments.

With a view to smoothening the cap on charges in ULIP products, the

capping been rationalized by IRDA to ensure that the difference in thyield is capped from the 5 year onwards. This will not only reduce

the overall charges on these products, but will also ensure

smoothening of the charge structure for the policyholder.

IRDA has also addressed the concerns of policyholders who are

unable to continue premium payment by drafting IRDA (Treatment of

Discontinued Linked Insurance Policies) Regulations, 2010. These

regulations ensure that policyholders do not get overcharged when

they wish to discontinue their policies for any emergency cash

requirement. The regulations stipulate that an insurer shall recover

only the incurred acquisition costs in the event of discontinuance of

policy and that these charges are not excessive. The discontinuance

The consumer and market dynamics; and the

regulatory interventions triggered by them would

ensure that insurance is bought rather than sold.

There are several distribution related

improvements which ensure that there is no scope

for the involvement of unlicensed personnel or

entities in the sale of insurance products.

issue focus

18

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19

irda j

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Yegnapriya Bharat emphasizes the need for better policyholder education in order that

the overall levels of policyholder protection take a quantum jump.

Changing the Way Insurance is Transacted- Enabling Policyholder Protection

The insurance sector is rapidly moving towards a scenario wherein

the maxim –'Insurance is sold and not bought' would soon fade away.

The consumer and market dynamics; and the regulatory interventions

triggered by them would ensure that insurance is bought rather than

sold.

One of the most important components of a sound and competitive

insurance market is effective policyholder protection. Where this is

lacking, prospects and policyholders would be exposed to unfair

treatment by insurers. They would become an easy prey to abusive

market practices, especially when the products are complex. The

crux of the problem, from the consumer protection point of view, is

the imbalance of the power, information and resources between

policyholders and insurers. Prospects and policyholders are at a

disadvantage though theoretically (and sometimes in practice), the

information asymmetry may work the other way round as well.

However, most times it is the policyholder who is vulnerable to the

asymmetry.

The Regulator, therefore, has the duty of not only preventing market

failure but also ensuring that there is no imbalance or asymmetry in it.

A pre-requisite for this is a well designed policyholder protection

framework. The Insurance Regulatory and

Development Authority (IRDA) has ensured

that such a framework, in the form of

regulations, guidelines, circulars etc, is in

place. While the basic framework to some

extent could remain static, the dynamic

elements created by the ever changing market

scenario need periodical review and revisiting.

IRDA has been carrying this out to meet the

new challenges and concerns that are created

in the market for the policyholder.

TransparencyConsumer protection is deemed to have

succeeded if certain basic parameters are

achieved. The primary one is transparency in

transactions. This cannot be truer for

insurance. A prospect should be provided with

full, plain, adequate and comparable

information about the rates, terms and

conditions, risks involved etc. There should be

utmost transparency at the time of sale and

promotion so that the policyholder is made to

feel confident that he or she is being given

complete information regarding the product.

Provision of clear and complete information

about products is not only a fundamental

expectation but also a necessity, to ensure fair

treatment to policyholders by insurance

companies. The IRDA (Protection of

Policyholders Interest) Regulations, 2002

define the obligations of insurers and

intermediaries regarding matters to be stated in

life and general insurance policy and lay down

time-frames for compliance of various

policyholder servicing parameters covering

the life cycle of the insurance product, from

sale to servicing - including claims servicing.

The regulations for the intermediaries—agents,

corporate agents and brokers, among other

things, lay down the Code of Conduct

including at the point of sale. The IRDA

(Insurance Advertisement and Disclosure)

Regulations, 2000 address advertising and

disclosure requirements at the point of sale.

The File and Use procedure of IRDA is also a

drill from the point of view of product

simplicity and its understanding, apart from

other parameters. One of the recent initiatives

of IRDA, to ensure that clear information

regarding products is given to the prospect or

policyholder in a way he or she can

understand, is the proposal to introduce Key

Feature Document (KFD) in simple language.

The test of a KFD is whether or not the target

customer for a particular product understands

its main features and is able to take a decision

as to whether the product is suitable for him or

her. A KFD would also ensure disclosure by

insurers of other important information such as

premium details, payment modes, various

charges, risks involved, what happens in the

event of discontinuance etc.

Sales and Distribution

Another important element of policyholder

protection is that insurers and intermediaries

shall be non-coercive while selling. Not only

shall they be non-coercive but more

importantly, they shall not mis-sell. The

Policyholder Protection Regulations, and

regulations for the various intermediaries,

brought out by IRDA are geared to address

these issues. However, given the complexity of

some of the products, IRDA felt the need for

more specific solutions for mis-selling.

IRDA has taken certain initiatives in further

tightening the policyholder protection norms

by amendment of regulation. There are several

distribution related improvements which

ensure that there is no scope for the

involvement of unlicensed personnel or

entities in the sale of insurance products. Any

scope for payment of any remuneration other

than commission where sale has been effected

has been eliminated by amending regulations.

These measures will reduce the expenses of

the insurers, thereby lowering the premiums to

be paid by the policyholder. Further, IRDA has

also addressed the issue of referrals with the

proposed IRDA (Sharing of database for

distribution of insurance products) Regulations, 2010 that will ensure

that sale process is as per the standards prescribed.

Needs Analysis is another initiative identified by IRDA as a step in

curbing wrong advice and mis-selling. The proposed guidelines to

deal with issues relating to distance marketing would address new

challenges of mis-selling that have cropped up with the advancement

of technology. While the benefits of having new and faster channels

need to be reaped, the loopholes created by them need plugging. This

is precisely what the draft guidelines on the subject propose to do.

Fair Treatment While liberalization has helped create choice, there is need to ensure

that in the name of choice, the policyholder is not inundated with

unwanted product information or ill fitting products. Insurers shall

offer stable, well designed specific products that are useful to the

consumers, meeting their needs. The terms and conditions of the

product shall ensure fair treatment to the policyholder. The Regulator

steps in, wherever required, to ensure this. Recently, IRDA has taken

several steps with regard to the product structure of ULIPs to clearly

position them as long term savings cum insurance instruments rather

than as short term speculative products. This kind of product

differentiation will ensure that the insurers have very little scope to

position them differently than what these products are.

Further, all limited premium unit linked insurance products, other

than single premium products shall have premium paying term of at

least five years. All unit linked products, other than pension and

annuity products shall provide a mortality cover or a health cover

thereby increasing the risk cover component in such products. The

minimum cover to be offered has been specified for these segments.

With a view to smoothening the cap on charges in ULIP products, the

capping been rationalized by IRDA to ensure that the difference in thyield is capped from the 5 year onwards. This will not only reduce

the overall charges on these products, but will also ensure

smoothening of the charge structure for the policyholder.

IRDA has also addressed the concerns of policyholders who are

unable to continue premium payment by drafting IRDA (Treatment of

Discontinued Linked Insurance Policies) Regulations, 2010. These

regulations ensure that policyholders do not get overcharged when

they wish to discontinue their policies for any emergency cash

requirement. The regulations stipulate that an insurer shall recover

only the incurred acquisition costs in the event of discontinuance of

policy and that these charges are not excessive. The discontinuance

The consumer and market dynamics; and the

regulatory interventions triggered by them would

ensure that insurance is bought rather than sold.

There are several distribution related

improvements which ensure that there is no scope

for the involvement of unlicensed personnel or

entities in the sale of insurance products.

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charges have been capped both as percentage of fund value and

premium, and also in absolute value. The regulations also clearly

define the grace period for different modes of premium payment.

Upon discontinuance of a policy, a policyholder shall be entitled to

exercise an option of either reviving the policy or completely

withdrawing from the policy without any risk cover. Further, the

regulations also enable IRDA to order refund of discontinuance

charges in case they are found excessive on enquiry.

The other significant area where the regulator has recently intervened

is the pensions. A pension contract is a form of savings vehicle that

caters to the needs of retired or the aged population. The

contributions that have been used to fund the pension contracts shall

not only be intact but also increase, to enable the individual to

purchase an annuity which can at least meet his or her basic needs.

Unit linked pension contracts without any guarantee of return may

either provide increased benefits or erode the funds accumulated.

The downside risk is too much to be ignored. If the US example where

the pension funds nose-dived due to the global financial crisis is

anything to go by, government authorities and regulatory bodies

would do well to ensure that any major crisis which could involve

unexpected calls for huge infusion of money into the system to

safeguard the old age provisions and retain the system confidence, is

prevented. Hence IRDA has introduced a prudential regulatory

approach whereby it has stipulated that all ULIP pension or annuity

products shall offer a minimum guarantee of 4.5% per annum or as

specified by IRDA, from time to time. Although such guarantee may

result in 1% hike in risk charge, the policyholders will receive

protection for their lifetime savings from severe market risks. This will

protect the life time savings for the pensioners, from any adverse

fluctuations at the time of maturity.

Public disclosuresPublic disclosure of risks faced by the insurers is critical for

policyholder protection. They help policyholders make informed

decisions before entering into insurance contracts. Reliable and

timely disclosures also ensure a fair and orderly insurance sector.

With this in view, early this year, IRDA stipulated public disclosure

requirements for all insurance companies.

The disclosures were made effective from the

period ended 31st March, 2010. Insurers shall

publish the Balance Sheet, Profit & Loss

Account, Revenue Account and Key Analytical

Ratios on a half yearly basis in at least one

English daily newspaper circulating in the

whole or substantially the whole of India; and

in one newspaper published in the regional

language of the region where the registered

office is situated or in Hindi in the stipulated

font size and within the time-frame laid down.

Insurers shall also host all the forms including

Revenue Account, Profit & Loss Account,

Balance Sheet, segmental reporting, schedules

to accounts and other forms on their website as

per the periodicity and other parameters

stipulated.

Grievance RedressPolicyholders must be provided with

inexpensive and speedy mechanisms for

complaints disposal. The IRDA (Protection of

Policyholders Interests) Regulations, 2002

require insurance companies to have in place,

effective and speedy grievance redress

mechanisms. However, the effectiveness of

the mechanisms needs to be monitored by the

Regulator. To enable this as well as create a

central repository of industry-wide insurance

grievance data, IRDA is on the verge of

implementing the Integrated Grievance

Management System (IGMS). IGMS will not

only help monitor the redress systems of

insurers but also create a gateway for

policyholders to register complaints with

insurance companies first; and if need be,

escalate them to the IRDA Grievance Cells.

IRDA is also shortly introducing the IRDA

Grievance Call Centre (IGCC) which will

provide an addi t ional channel for

policyholders to lodge their grievances and

also seek their status over phone or e-mail.

With a view to going beyond facilitation of

complaints resolution, IRDA has begun to drill

down into details of complaints to identify

instances of violation or non-compliance of

various provisions of the applicable

regulations through enquiries and inspections.

The institution of Ombudsman is also being

reviewed for possible changes and expansion

of jurisdiction, to ensure that grievances that

are not resolved by insurers and get escalated

to the Regulator and/or Ombudsman are

decided conclusively, except where they

would fall necessarily within the ambit of the

courts.

Further, insurers are advised to strengthen their

redress procedures where they are found

weak. The mandatory requirement of a

Policyholder Protection Committee as one of

the Board committees as part of the corporate

governance guidelines issued by IRDA is

another step in the direction of ensuring that

the insurers have their own internal systems

monitored effectively at the highest level.

Insurance DataThe insurance industry must have access to

reliable, timely and accurate data for its

efficient functioning. In order to ensure that

proper data relating to policies and claims is

collected, processed and disseminated in the

manner required, IRDA has set up an

independent body, namely the Insurance

Information Bureau (IIB). The IIB has started

functioning and has already made good

progress. The data that is disseminated is

generic, with the privacy and confidentiality

issues being addressed adequately, both from

the policyholder as well as the insurer point of

view.

Consumer EducationConsumer protection and consumer education

complement each other. They have the same

goal, namely the well-being of the consumer.

Consumer education not only helps

individuals understand the products and the

risks involved better but is also a necessity for

market efficiency as it contributes to more

efficient, transparent and competitive practices

by the financial service providers. It also

produces better educated citizens who can

monitor markets through their own decisions.

It may not be out of place to mention that in an

OECD survey of the members of the

International Network on Financial Education

(INFE) composed of financial education

experts from 110 public authorities in over 50

OECD countries and non-member economies,

a vast majority of respondents indicated that

financial illiteracy was a determinant of the

recent financial crisis. The importance of consumer education,

therefore, needs no further emphasis.

In the insurance sector; liberalization, leading to the entry of several

new insurance companies and introduction of hordes of new

insurance products created a very strong case for scaling up efforts in

the area of consumer education on the part of all stakeholders

involved. Consumer education and policyholder protection being

two sides of the same coin, the Regulator has as onerous a

responsibility towards consumer education as it has for policyholder

protection. In fact, consumer education is a part and parcel of

policyholder protection. Towards this end, IRDA has, over the years

With a view to going beyond facilitation of

complaints resolution, IRDA has begun to drill

down into details of complaints to identify

instances of violation or non-compliance of

various provisions of the applicable regulations

through enquiries and inspections.

taken several initiatives through various media. IRDA also

encourages and supports consumer bodies to conduct seminars on

insurance, thereby not only educating the consumer but also

providing a platform for the consumer to interact with its

representatives who it makes sure participates in such seminars. This

apart, the IRDA itself conducts or participates and supports several

national level seminars on different insurance topics or subjects as

well as consumer related issues through which it reaches out to the

public.

In the insurance sector; liberalization, leading to

the entry of several new insurance companies and

introduction of hordes of new insurance products

created a very strong case for scaling up efforts in

the area of consumer education on the part of all

stakeholders involved.

The author is Joint Director, Consumer Affairs Dept., IRDA. The views

expressed in the article are her own.

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charges have been capped both as percentage of fund value and

premium, and also in absolute value. The regulations also clearly

define the grace period for different modes of premium payment.

Upon discontinuance of a policy, a policyholder shall be entitled to

exercise an option of either reviving the policy or completely

withdrawing from the policy without any risk cover. Further, the

regulations also enable IRDA to order refund of discontinuance

charges in case they are found excessive on enquiry.

The other significant area where the regulator has recently intervened

is the pensions. A pension contract is a form of savings vehicle that

caters to the needs of retired or the aged population. The

contributions that have been used to fund the pension contracts shall

not only be intact but also increase, to enable the individual to

purchase an annuity which can at least meet his or her basic needs.

Unit linked pension contracts without any guarantee of return may

either provide increased benefits or erode the funds accumulated.

The downside risk is too much to be ignored. If the US example where

the pension funds nose-dived due to the global financial crisis is

anything to go by, government authorities and regulatory bodies

would do well to ensure that any major crisis which could involve

unexpected calls for huge infusion of money into the system to

safeguard the old age provisions and retain the system confidence, is

prevented. Hence IRDA has introduced a prudential regulatory

approach whereby it has stipulated that all ULIP pension or annuity

products shall offer a minimum guarantee of 4.5% per annum or as

specified by IRDA, from time to time. Although such guarantee may

result in 1% hike in risk charge, the policyholders will receive

protection for their lifetime savings from severe market risks. This will

protect the life time savings for the pensioners, from any adverse

fluctuations at the time of maturity.

Public disclosuresPublic disclosure of risks faced by the insurers is critical for

policyholder protection. They help policyholders make informed

decisions before entering into insurance contracts. Reliable and

timely disclosures also ensure a fair and orderly insurance sector.

With this in view, early this year, IRDA stipulated public disclosure

requirements for all insurance companies.

The disclosures were made effective from the

period ended 31st March, 2010. Insurers shall

publish the Balance Sheet, Profit & Loss

Account, Revenue Account and Key Analytical

Ratios on a half yearly basis in at least one

English daily newspaper circulating in the

whole or substantially the whole of India; and

in one newspaper published in the regional

language of the region where the registered

office is situated or in Hindi in the stipulated

font size and within the time-frame laid down.

Insurers shall also host all the forms including

Revenue Account, Profit & Loss Account,

Balance Sheet, segmental reporting, schedules

to accounts and other forms on their website as

per the periodicity and other parameters

stipulated.

Grievance RedressPolicyholders must be provided with

inexpensive and speedy mechanisms for

complaints disposal. The IRDA (Protection of

Policyholders Interests) Regulations, 2002

require insurance companies to have in place,

effective and speedy grievance redress

mechanisms. However, the effectiveness of

the mechanisms needs to be monitored by the

Regulator. To enable this as well as create a

central repository of industry-wide insurance

grievance data, IRDA is on the verge of

implementing the Integrated Grievance

Management System (IGMS). IGMS will not

only help monitor the redress systems of

insurers but also create a gateway for

policyholders to register complaints with

insurance companies first; and if need be,

escalate them to the IRDA Grievance Cells.

IRDA is also shortly introducing the IRDA

Grievance Call Centre (IGCC) which will

provide an addi t ional channel for

policyholders to lodge their grievances and

also seek their status over phone or e-mail.

With a view to going beyond facilitation of

complaints resolution, IRDA has begun to drill

down into details of complaints to identify

instances of violation or non-compliance of

various provisions of the applicable

regulations through enquiries and inspections.

The institution of Ombudsman is also being

reviewed for possible changes and expansion

of jurisdiction, to ensure that grievances that

are not resolved by insurers and get escalated

to the Regulator and/or Ombudsman are

decided conclusively, except where they

would fall necessarily within the ambit of the

courts.

Further, insurers are advised to strengthen their

redress procedures where they are found

weak. The mandatory requirement of a

Policyholder Protection Committee as one of

the Board committees as part of the corporate

governance guidelines issued by IRDA is

another step in the direction of ensuring that

the insurers have their own internal systems

monitored effectively at the highest level.

Insurance DataThe insurance industry must have access to

reliable, timely and accurate data for its

efficient functioning. In order to ensure that

proper data relating to policies and claims is

collected, processed and disseminated in the

manner required, IRDA has set up an

independent body, namely the Insurance

Information Bureau (IIB). The IIB has started

functioning and has already made good

progress. The data that is disseminated is

generic, with the privacy and confidentiality

issues being addressed adequately, both from

the policyholder as well as the insurer point of

view.

Consumer EducationConsumer protection and consumer education

complement each other. They have the same

goal, namely the well-being of the consumer.

Consumer education not only helps

individuals understand the products and the

risks involved better but is also a necessity for

market efficiency as it contributes to more

efficient, transparent and competitive practices

by the financial service providers. It also

produces better educated citizens who can

monitor markets through their own decisions.

It may not be out of place to mention that in an

OECD survey of the members of the

International Network on Financial Education

(INFE) composed of financial education

experts from 110 public authorities in over 50

OECD countries and non-member economies,

a vast majority of respondents indicated that

financial illiteracy was a determinant of the

recent financial crisis. The importance of consumer education,

therefore, needs no further emphasis.

In the insurance sector; liberalization, leading to the entry of several

new insurance companies and introduction of hordes of new

insurance products created a very strong case for scaling up efforts in

the area of consumer education on the part of all stakeholders

involved. Consumer education and policyholder protection being

two sides of the same coin, the Regulator has as onerous a

responsibility towards consumer education as it has for policyholder

protection. In fact, consumer education is a part and parcel of

policyholder protection. Towards this end, IRDA has, over the years

With a view to going beyond facilitation of

complaints resolution, IRDA has begun to drill

down into details of complaints to identify

instances of violation or non-compliance of

various provisions of the applicable regulations

through enquiries and inspections.

taken several initiatives through various media. IRDA also

encourages and supports consumer bodies to conduct seminars on

insurance, thereby not only educating the consumer but also

providing a platform for the consumer to interact with its

representatives who it makes sure participates in such seminars. This

apart, the IRDA itself conducts or participates and supports several

national level seminars on different insurance topics or subjects as

well as consumer related issues through which it reaches out to the

public.

In the insurance sector; liberalization, leading to

the entry of several new insurance companies and

introduction of hordes of new insurance products

created a very strong case for scaling up efforts in

the area of consumer education on the part of all

stakeholders involved.

The author is Joint Director, Consumer Affairs Dept., IRDA. The views

expressed in the article are her own.

issue focus

22

irda j

ourn

al Ju

ly 2

010

Legalese is never easily understood and there is

always potential scope of misunderstanding the

contract, on the part of the customer.

Vishwavijay Singh suggests that a persistent practice of customer support, whenever

needed, will go a long way in building up the reputation of the insurers.

- Protection of Policyholders' Interests

Need to Demonstrate and Deliver

The Policyholder Protection Act 2002 was formed by the Insurance Regulatory and Development Authority (IRDA) to safeguard the interests of the policyholders at large. The act comprises a set of guidelines for insurers including areas of point of sale, proposal details, grievance redressal, policy details, claims process and policy servicing. These guidelines facilitate transparency and fair business

practices, thus establishing a healthy business environment. The guidelines cover the entire policy lifecycle, allowing the insured to make an informed buying decision and avail of the policy benefits. The act mandates insurers to provide sufficient information to prospects and customers regarding the aforementioned areas.

Insurance is a promise

The context of policy holder protection becomes clear once insurance is seen as a promise made by the insurance company to pay the insured at the time of the claim. This promise is governed by the policy wordings and insurance is as such a legal contract between the insurer and the insured. However the policy wordings are drafted by legal teams while the closure is done on the ground between the advisor and the customer. Legalese is never easily understood and there is always potential scope of misunderstanding the contract, on the part of the customer. It is incumbent on the insurance company to ensure that transparency and trust is engendered throughout the process keeping the customer's interests in mind. This is essential from a longer term perspective to build customer confidence on the core proposition of insurance.

In a wider context, the protection of policy holders' interests would cover three areas:

a) transparency of information

b) customer centric service and

c) ability to settle genuine claims.

Insurance companies that are investing in these areas are creating customer trust leading to loyalty, advocacy and superior lifetime value. Furthermore, as competition increases giving customers wider choice, differentiation in these areas would become a source of competitive advantage.

Transparency

Customers need to have transparency of information at every stage of the policy lifecycle. All touch-points can be 'information empowered' - be it website, call centre, branch or channel. For customers who are net savvy, the website is a powerful source of information giving clarity on policy coverage, exclusions, premiums and claims process. For instance, some players publish all policy wordings online in downloadable PDF format which the customer can peruse even before buying the policy. The insurer's website can also be supported with 24x7 support via online chat and toll free telephone access which allows the customer direct access to the insurer at any time of day or night, weekday or weekend as per their convenience. Audit of all interactions with the customer is much easier with electronic channels as chat transcripts are easily available and calls can be recorded for later reference. Regular training and quality control of call centre executives becomes a crit ical aspect to ensure that right

23

irda j

ourn

al Ju

ly 2

010

Along with the willingness to pay genuine

claims, insurers also need to demonstrate the

ability to service the risk on their books.

communication is delivered to the customer after proper understanding of their needs. Appropriate CRM applications are able to guide the call centre executives appropriately through a knowledge tree on what to say to the customers in different scenarios.

The policy sale process represents the start of the insurance contract; and clarity of the terms to the customer is important to avoid dissonance later at the time of claim. Correct presentation of the policy terms through promotional material before the sale, proper information capture during the sale and availability of all details of risk assumption after the transaction help build a strong foundation to the insurer-insured relationship.

Customer Centric Service

Insurance being a legal contract can be subject to amendment through endorsements or even cancellation. Insurers must set up options and processes for policy servicing that are convenient and hassle free for the customer who has entered into the insurance contract in good faith.

Technology plays an important role in making the process easy, quick and frictionless. Robust CRM systems allow the provision of service request reference numbers that can then be tracked till closure. Status updates via sms and email are now the norm which keeps the customer abreast of the progress of their request. The internet is increasingly being used to lodge and track service requests.

Regardless of the channel from which the policy may have been purchased, companies are now offering their customers 24x7 access via a single toll free number providing the confidence to the insured that the insurer is just a call away.

Contactability is the anchor for all customer communication and both the insurers as well as insured need to take ongoing measures to ensure contact details are kept current so that service updates and renewal notices are delivered on time. The insurance product goes beyond just the sale transaction and extends to the post sales service as well as renewal.

Service processes must be designed by stepping into the customer's shoes. For instance, an endorsement request for travel insurance should be executed speedily in time before the departure of the trip. An emergency cashless pre-authorisation request will require a shorter turn-around time as compared to planned treatment. Replacement cars or

garage cash covers are designed to give the customer mobility even while their vehicle is under repair.

Customer centric service also hinges around delivering on the promise and ISO certification undertaken by insurance companies is an indication of their commitment to deliver on their service promises.

Settlement of genuine claims

Insurance is the business of distress management and the process of claims settlement is the final moment of truth. The insurer's first step is to ascertain if the claim is genuine and sensitivity is required at this stage. The policy terms come in to play here and if the customer has been well educated of what he has bought into, the claims process should be smooth and hassle free with minimal dissonance. The ability of an insurer to put in place a robust claims assessment process ensures that genuine claims are cleared speedily and fraudulent claims are identified and blocked. Moral hazard is a burden on honest policy holders who would finally end up paying a higher premium to make up for the portfolio imbalance.

Along with the willingness to pay genuine claims, insurers also need to demonstrate the ability to service the risk on their books. Positive ratings from agencies such as ICRA and A M Best are an indicator of being in a fundamentally strong position with the ability to pay large claims. Maintaining a higher solvency ratio above the regulator's norms is also a signal to the customer of the stability of the insurer. The reinsurance program must be built on a robust foundation with adequate cover with the objective of protecting value at risk at all times.

In conclusion

Finally, it would be pertinent to highlight that policy holders also have the responsibility of understanding the contract they are entering with their insurer. They have a right to ask for information and must ensure that they provide correct and complete information to the insurer. Doing so will also assist them while seeking redressal of grievances if any, be it with the insurance company or through the ombudsman.

Keeping in mind the interests of the policy holder is a core tenet of customer centricity. This philosophy should become a governing principle of the industry's approach to designing insurance products and services. The pay off would be seen over time in the form of enhanced image of the industry as well as long term growth and penetration of insurance in the country.

The author is Vice President, Process Excellence, ICICI Lombard General

Insurance Co. Ltd.

issue focus

22

irda j

ourn

al Ju

ly 2

010

Legalese is never easily understood and there is

always potential scope of misunderstanding the

contract, on the part of the customer.

Vishwavijay Singh suggests that a persistent practice of customer support, whenever

needed, will go a long way in building up the reputation of the insurers.

- Protection of Policyholders' Interests

Need to Demonstrate and Deliver

The Policyholder Protection Act 2002 was formed by the Insurance Regulatory and Development Authority (IRDA) to safeguard the interests of the policyholders at large. The act comprises a set of guidelines for insurers including areas of point of sale, proposal details, grievance redressal, policy details, claims process and policy servicing. These guidelines facilitate transparency and fair business

practices, thus establishing a healthy business environment. The guidelines cover the entire policy lifecycle, allowing the insured to make an informed buying decision and avail of the policy benefits. The act mandates insurers to provide sufficient information to prospects and customers regarding the aforementioned areas.

Insurance is a promise

The context of policy holder protection becomes clear once insurance is seen as a promise made by the insurance company to pay the insured at the time of the claim. This promise is governed by the policy wordings and insurance is as such a legal contract between the insurer and the insured. However the policy wordings are drafted by legal teams while the closure is done on the ground between the advisor and the customer. Legalese is never easily understood and there is always potential scope of misunderstanding the contract, on the part of the customer. It is incumbent on the insurance company to ensure that transparency and trust is engendered throughout the process keeping the customer's interests in mind. This is essential from a longer term perspective to build customer confidence on the core proposition of insurance.

In a wider context, the protection of policy holders' interests would cover three areas:

a) transparency of information

b) customer centric service and

c) ability to settle genuine claims.

Insurance companies that are investing in these areas are creating customer trust leading to loyalty, advocacy and superior lifetime value. Furthermore, as competition increases giving customers wider choice, differentiation in these areas would become a source of competitive advantage.

Transparency

Customers need to have transparency of information at every stage of the policy lifecycle. All touch-points can be 'information empowered' - be it website, call centre, branch or channel. For customers who are net savvy, the website is a powerful source of information giving clarity on policy coverage, exclusions, premiums and claims process. For instance, some players publish all policy wordings online in downloadable PDF format which the customer can peruse even before buying the policy. The insurer's website can also be supported with 24x7 support via online chat and toll free telephone access which allows the customer direct access to the insurer at any time of day or night, weekday or weekend as per their convenience. Audit of all interactions with the customer is much easier with electronic channels as chat transcripts are easily available and calls can be recorded for later reference. Regular training and quality control of call centre executives becomes a crit ical aspect to ensure that right

23

irda j

ourn

al Ju

ly 2

010

Along with the willingness to pay genuine

claims, insurers also need to demonstrate the

ability to service the risk on their books.

communication is delivered to the customer after proper understanding of their needs. Appropriate CRM applications are able to guide the call centre executives appropriately through a knowledge tree on what to say to the customers in different scenarios.

The policy sale process represents the start of the insurance contract; and clarity of the terms to the customer is important to avoid dissonance later at the time of claim. Correct presentation of the policy terms through promotional material before the sale, proper information capture during the sale and availability of all details of risk assumption after the transaction help build a strong foundation to the insurer-insured relationship.

Customer Centric Service

Insurance being a legal contract can be subject to amendment through endorsements or even cancellation. Insurers must set up options and processes for policy servicing that are convenient and hassle free for the customer who has entered into the insurance contract in good faith.

Technology plays an important role in making the process easy, quick and frictionless. Robust CRM systems allow the provision of service request reference numbers that can then be tracked till closure. Status updates via sms and email are now the norm which keeps the customer abreast of the progress of their request. The internet is increasingly being used to lodge and track service requests.

Regardless of the channel from which the policy may have been purchased, companies are now offering their customers 24x7 access via a single toll free number providing the confidence to the insured that the insurer is just a call away.

Contactability is the anchor for all customer communication and both the insurers as well as insured need to take ongoing measures to ensure contact details are kept current so that service updates and renewal notices are delivered on time. The insurance product goes beyond just the sale transaction and extends to the post sales service as well as renewal.

Service processes must be designed by stepping into the customer's shoes. For instance, an endorsement request for travel insurance should be executed speedily in time before the departure of the trip. An emergency cashless pre-authorisation request will require a shorter turn-around time as compared to planned treatment. Replacement cars or

garage cash covers are designed to give the customer mobility even while their vehicle is under repair.

Customer centric service also hinges around delivering on the promise and ISO certification undertaken by insurance companies is an indication of their commitment to deliver on their service promises.

Settlement of genuine claims

Insurance is the business of distress management and the process of claims settlement is the final moment of truth. The insurer's first step is to ascertain if the claim is genuine and sensitivity is required at this stage. The policy terms come in to play here and if the customer has been well educated of what he has bought into, the claims process should be smooth and hassle free with minimal dissonance. The ability of an insurer to put in place a robust claims assessment process ensures that genuine claims are cleared speedily and fraudulent claims are identified and blocked. Moral hazard is a burden on honest policy holders who would finally end up paying a higher premium to make up for the portfolio imbalance.

Along with the willingness to pay genuine claims, insurers also need to demonstrate the ability to service the risk on their books. Positive ratings from agencies such as ICRA and A M Best are an indicator of being in a fundamentally strong position with the ability to pay large claims. Maintaining a higher solvency ratio above the regulator's norms is also a signal to the customer of the stability of the insurer. The reinsurance program must be built on a robust foundation with adequate cover with the objective of protecting value at risk at all times.

In conclusion

Finally, it would be pertinent to highlight that policy holders also have the responsibility of understanding the contract they are entering with their insurer. They have a right to ask for information and must ensure that they provide correct and complete information to the insurer. Doing so will also assist them while seeking redressal of grievances if any, be it with the insurance company or through the ombudsman.

Keeping in mind the interests of the policy holder is a core tenet of customer centricity. This philosophy should become a governing principle of the industry's approach to designing insurance products and services. The pay off would be seen over time in the form of enhanced image of the industry as well as long term growth and penetration of insurance in the country.

The author is Vice President, Process Excellence, ICICI Lombard General

Insurance Co. Ltd.

25

irda j

ourn

al Ju

ly 2

010

World class is a journey, not a destination. Jim Collins takes us

through this journey in his three classics - “Build to last” followed by

another bestseller “From Good to Great”. And as if to reflect upon all,

his next Title “How the mighty fall”. In the process, some truisms

unfold by themselves. In summary, new focus for value creation rests

with customer at the centre stage. This constitutes the main theme for

this article.

lits organizing principles

lits people processes.

It is this passion to compete that has seen great

companies graduating from 'Good to Great'

and from Great to 'World-class' status. This

status denotes setting new benchmarking

standards of performance in terms of product

design, delivery, quality, customer satisfaction

and value creation. Striving continuously to

improve its own benchmark standards of

performance is the hallmark of world-class

organizations. As for insurance industry

domain, Protection of Policyholders' interests

thus becomes a matter of prime concern.

World Class Motto: Passion and commitment

to excel

When rules of a game change, the player's

strategies and actions must also change so as to

win that game. The same goes for business. In stthe 21 century the nature of doing business

has tremendously changed. The new

upheavals of global financial meltdown since

September, 2008 have transformed the

financial services sector for ever and proven to

be an eye opener to economies across the

globe.

For organizations, good is no more good

enough, and excellence has lost its meaning to

a new phenomenon called “world class

organizations”.

Prof. Rajni M. Shah asserts that the world order is changing and there is increasing

emphasis on finding newer methods to ensure that the best service is being rendered.

What is World Class Organization?

World-Class in India:

In order to win, companies must win at three very different stages of

competition.

lcompetition for markets

lcompetition for competencies

lcompetition for dreams.

To manage sustainable growth, a company needs to create an

effective alignment between three key elements:

lits value creation logic

Contours of World Class Organizations- New Practices in Value Creation

It is this passion to compete that has seen great

companies graduating from 'Good to Great' and

from Great to 'World-class' status.

issue focus

24

irda j

ourn

al Ju

ly 2

010

World class organization status is a new ideal

relentlessly pursued by ambitious and daring

organizations worldwide because this status

alone promises maximum rewards and the

victor's stand. World-class organizations do

not emerge by chance. People build them by

design. They are created by vision, nurtured by

ambitions and perfected by actions. They

believe in being 'Best of the Bests'; and seeking

continuous improvement, redefine own

benchmarking standards of performance with

relentless focus on consumer with a high

passion and commitment. Characterized by

high performance leadership, world-class

organizations strive to raise the bar all through.

For reaching the zenith of excellence,

companies need to carefully formulate

strategies and deliberately implement them so

as to arrive at the desired destination. The

following are some of the few strategies and

terms of reference which are instrumental in

developing best of the best companies.

A New Paradigm of value creation:

Consumers have greater product variety today

than ever, yet they are less satisfied. Top

management has more strategic options, yet

they deliver less value. What do these

paradoxes suggest about future of competition?

Despite unbounded opportunities for

innovation, companies still can't satisfy

customers and sustain profitable growth. The

explanation for this apparent paradox lies in

recognizing the structural changes brought

about by the convergence of industries and

technologies; ubiquitous connectivity and

globalization; and, as a consequence, the

evolving role of the consumer from passive

recipient to active co-creator of value.

Managers need a new framework for value

creation. And, all said and done, this is

considered as the building block for world-

class organizations. Let us examine further.

Increasing individual customer's interaction

with a network of firms and consumer

communities can co-create value. No longer

can firms autonomously create value in

isolation. Neither is value embedded in

products and services per se. Products are but

an artifact around which compelling

individual experiences are created. This is more so for 'services'

rather than products. As a result, the focus of innovation will shift from

products and services to experience environments that individuals

can interact with to co-construct their own experience. These

personalized co-creation experiences are the source of unique value

for consumers and companies alike.

To compete in this complex marketplace, companies must

fundamentally alter their value creation architecture. They ought to

make information and operations transparent and accessible to all

collaborators, and transform their interactions with customers from

transactions to meaningful dialogues. For their part, customers must

be able to understand and assess all the risks, as well as the rewards, of

the choices they make.

This is the future of competition as articulated by Prof. C.K. Prahlad in

his path-breaking Title “The Future of Competition: co-creating

unique value with customer”. Let us elaborate.

Co-Creation of Value:

A profound but silent transformation of our society is afoot. With the

burgeoning complexity in offerings, services, risks, rewards and

information the consumer is confounded and frustrated. Product

variety has not necessarily resulted in better consumer experience. stThe paradox of the 21 century lies in the fact that the consumers have

more choices that yield less satisfaction and top management has

more strategic options that yield less value. Are we on the cusp of a

new industrial system with characteristics different from those we

now take for granted - towards a new paradigm shift?

What is the evolving role of the customer in the value creation

process? No longer do customers receive value through the purchase

of products and services alone. Instead, individual customers are

interacting with a network of firms and consumer communities in

order to satisfy their unique preferences – and the value they obtain

comes from the sum total to those personal experiences.

Traditional notion of value and its creation that firms create and

exchange value with consumers does no longer hold good.

Increasingly, the joint efforts of the consumer and the firm are co-

creating value through personalized experiences that are unique to

each individual consumer.

Products are but an artifact around which

compelling individual experiences are created.

25

irda j

ourn

al Ju

ly 2

010

World class is a journey, not a destination. Jim Collins takes us

through this journey in his three classics - “Build to last” followed by

another bestseller “From Good to Great”. And as if to reflect upon all,

his next Title “How the mighty fall”. In the process, some truisms

unfold by themselves. In summary, new focus for value creation rests

with customer at the centre stage. This constitutes the main theme for

this article.

lits organizing principles

lits people processes.

It is this passion to compete that has seen great

companies graduating from 'Good to Great'

and from Great to 'World-class' status. This

status denotes setting new benchmarking

standards of performance in terms of product

design, delivery, quality, customer satisfaction

and value creation. Striving continuously to

improve its own benchmark standards of

performance is the hallmark of world-class

organizations. As for insurance industry

domain, Protection of Policyholders' interests

thus becomes a matter of prime concern.

World Class Motto: Passion and commitment

to excel

When rules of a game change, the player's

strategies and actions must also change so as to

win that game. The same goes for business. In stthe 21 century the nature of doing business

has tremendously changed. The new

upheavals of global financial meltdown since

September, 2008 have transformed the

financial services sector for ever and proven to

be an eye opener to economies across the

globe.

For organizations, good is no more good

enough, and excellence has lost its meaning to

a new phenomenon called “world class

organizations”.

Prof. Rajni M. Shah asserts that the world order is changing and there is increasing

emphasis on finding newer methods to ensure that the best service is being rendered.

What is World Class Organization?

World-Class in India:

In order to win, companies must win at three very different stages of

competition.

lcompetition for markets

lcompetition for competencies

lcompetition for dreams.

To manage sustainable growth, a company needs to create an

effective alignment between three key elements:

lits value creation logic

Contours of World Class Organizations- New Practices in Value Creation

It is this passion to compete that has seen great

companies graduating from 'Good to Great' and

from Great to 'World-class' status.

issue focus

24

irda j

ourn

al Ju

ly 2

010

World class organization status is a new ideal

relentlessly pursued by ambitious and daring

organizations worldwide because this status

alone promises maximum rewards and the

victor's stand. World-class organizations do

not emerge by chance. People build them by

design. They are created by vision, nurtured by

ambitions and perfected by actions. They

believe in being 'Best of the Bests'; and seeking

continuous improvement, redefine own

benchmarking standards of performance with

relentless focus on consumer with a high

passion and commitment. Characterized by

high performance leadership, world-class

organizations strive to raise the bar all through.

For reaching the zenith of excellence,

companies need to carefully formulate

strategies and deliberately implement them so

as to arrive at the desired destination. The

following are some of the few strategies and

terms of reference which are instrumental in

developing best of the best companies.

A New Paradigm of value creation:

Consumers have greater product variety today

than ever, yet they are less satisfied. Top

management has more strategic options, yet

they deliver less value. What do these

paradoxes suggest about future of competition?

Despite unbounded opportunities for

innovation, companies still can't satisfy

customers and sustain profitable growth. The

explanation for this apparent paradox lies in

recognizing the structural changes brought

about by the convergence of industries and

technologies; ubiquitous connectivity and

globalization; and, as a consequence, the

evolving role of the consumer from passive

recipient to active co-creator of value.

Managers need a new framework for value

creation. And, all said and done, this is

considered as the building block for world-

class organizations. Let us examine further.

Increasing individual customer's interaction

with a network of firms and consumer

communities can co-create value. No longer

can firms autonomously create value in

isolation. Neither is value embedded in

products and services per se. Products are but

an artifact around which compelling

individual experiences are created. This is more so for 'services'

rather than products. As a result, the focus of innovation will shift from

products and services to experience environments that individuals

can interact with to co-construct their own experience. These

personalized co-creation experiences are the source of unique value

for consumers and companies alike.

To compete in this complex marketplace, companies must

fundamentally alter their value creation architecture. They ought to

make information and operations transparent and accessible to all

collaborators, and transform their interactions with customers from

transactions to meaningful dialogues. For their part, customers must

be able to understand and assess all the risks, as well as the rewards, of

the choices they make.

This is the future of competition as articulated by Prof. C.K. Prahlad in

his path-breaking Title “The Future of Competition: co-creating

unique value with customer”. Let us elaborate.

Co-Creation of Value:

A profound but silent transformation of our society is afoot. With the

burgeoning complexity in offerings, services, risks, rewards and

information the consumer is confounded and frustrated. Product

variety has not necessarily resulted in better consumer experience. stThe paradox of the 21 century lies in the fact that the consumers have

more choices that yield less satisfaction and top management has

more strategic options that yield less value. Are we on the cusp of a

new industrial system with characteristics different from those we

now take for granted - towards a new paradigm shift?

What is the evolving role of the customer in the value creation

process? No longer do customers receive value through the purchase

of products and services alone. Instead, individual customers are

interacting with a network of firms and consumer communities in

order to satisfy their unique preferences – and the value they obtain

comes from the sum total to those personal experiences.

Traditional notion of value and its creation that firms create and

exchange value with consumers does no longer hold good.

Increasingly, the joint efforts of the consumer and the firm are co-

creating value through personalized experiences that are unique to

each individual consumer.

Products are but an artifact around which

compelling individual experiences are created.

27

irda j

ourn

al Ju

ly 2

010

issue focus

26

irda j

ourn

al Ju

ly 2

010

Protection of Insurance Policyholders' interests:

Policyholders are a major stakeholder for insurance companies and

protecting their interests becomes a major priority. It becomes

obligatory for insurers as service providers to protect interests of

policyholders, as 'consumers' of insurance services. Insurance

Regulatory and Developmnet Authority (IRDA) has notified

regulations for Protection of Policyholders' Interests in 2002. As per

the regulations, all insurers have to set up grievance redressal

mechanisms to address complaints and grievances of policyholders

efficiently with a sense of urgency. IRDA has been monitoring such

systems in operation with insurance companies to ensure their

efficacy. Such regulations empower policyholders for a hassle-free

and transparent interface with insurance companies to safeguard their

legitimate interests and going beyond that to suggest proactive

measures and practices for insurance industry. Setting up of

Ombudsmen across the country is a major milestone as an institution

set up to safeguard interests of insurance policyholders. What is

needed is greater awareness and understanding on the part of service

providers and policyholders – service users - to be proactive and

benefit from such set up. Yet another recent milestone on the part of

IRDA relates to corporate governance domain which is crucial not

only for insurance industry but for India Incorporated; and in similar

context, IRDA guidelines on Anti-Money Laundering (AM) effective st1 July, 2005 for insurance companies relating to important aspects to

protect interests of customers.

One simple tenet for organizations to move from 'good to great' is to

provide customer orientation in every possible way. At the heart of

this tenet is customer orientation. One decade of liberalized

insurance industry in India has seen some turbulent times for most of

the players. Organizations are therefore moving from organization

orientation to customer orientation and protection of policyholders in

the case of insurance service providers.

As is common knowledge, consumer awareness for insurance in India

is far too low, and surprisingly, quite so even for urban populace in

general. Claims is the defining moment when insurance

policyholders specially need to be protected – to be treated fairly and

expeditiously for settlement of claims, with insurers providing

facilitation to do so.

Insurance as a 'service', unlike a product, has

its own characteristics. Insurers ought to follow

the Rule Book of Services Management &

Marketing to assist and protect interests of

policyholders. This will go a long way to retain

clients, add on through word of mouth and

relate to them as a part of relationship

management - in the process, building trust

and, hopefully, customer loyalty.

It is time to re-examine the traditional system to

company-centric value creation that has

served organizations so well over the past

hundred years. We now need a new frame of

reference for value creation. The answer lies in

a different premise centered on co-creation of

value. It begins with the changing role of the

consumer in the industrial system - from

isolated to connected, from unaware to

informed, from passive to active.

Companies can no longer act autonomously,

designing products, developing production

processes, crafting marketing messages, and

controlling sales channels with little or no

interference from consumers. These

personalized co-creation experiences with

new-age customers are the source of unique

value for consumers and companies alike.

Thus organizations need to move from the

traditional approach of value creation to the

new frame of reference for value creation. The

focus is on people interacting with people and

serving the consumer what he expects through

newer experiences. Co-creation is possible by

merging the company think with the consumer

think.

Many companies rarely seem to consider

aspirations, frustrations and wishes of the

heterogeneous group of consumers who

experience their product or service. Instead

they focus on the efficiency of production and

logistical systems. Misled by company think,

operational managers cluster the marketplace

with products that are feature rich but

experience poor. For the consumers,

technology convergence can create

experience divergence. These are some new

learning for Indian insurers and India

Incorporated in the domain of product

It is time to re-examine the traditional system to

company-centric value creation that has served

organizations so well over the past hundred years.

innovation; more so at this point of time when

insurance industry in India is poised for

charting new growth curve through financial

inclusion and seeking transformation.

Services Sector: Insurance industry in India

Understanding nuances of 'services'

management and marketing, in contrast to

'products', is vital to accelerate growth of

services segment. Service industry of which

insurance forms a significant constituent forms

the backbone of social and economic

development of a nation. It has emerged as the

largest and fastest growing sector in world-

economy, so also in India. Insurance services

are intangible. Managing a service requires

knowledge and understanding of its four

characteristics: intangibility, inseparability,

variability and perishability. For each one

there are important implications for marketing

mix and reaching a 'scale' and volume of

operations to sustain accelerated and

profitable growth.

Growth story of insurance industry in India is

inspiring, never mind some hiccups on the

way. The upswing observed in business

growth curve is robust what with impressive

GDP for the economy with sound

fundamentals and business optimism

unabated. The greatest challenge is how to

achieve accelerated and sustainable growth in

the backdrop of huge untapped market

potential, intrinsic strength to seek inclusive

growth. To sustain this level of performance

and provide a fillip for inclusive growth, it is

imperative to overhaul traditional 5 Ps of

m a r k e t i n g - m i x a n d m a s t e r n e w

comprehension for services marketing and

management per-se.

In today's complicated, differentiated

marketplace, success often means tailoring

service offerings to the price level and

expectation level of new age customers. Great

companies know how to discern the difference

and give specific customers exactly what they

want at the price they can bear.

That's why every service organization such as

in insurance segment in its quest to become

world-class should develop a service strategy

and implementation plan; distinct from what traditionally applies to

'products' of manufacturers.

Strategies for developing world-class organizations - some pointers:

lGlobal economic awareness

The first requirement to venture into this journey is to acquire

knowledge and understanding of global business environment

and global market place.

lQuality Excellence

Quality is a dynamic state associated with products, service,

people processes, and environments that meet or exceed

customer's expectations. In today's market place quality is the

creed for winning.

The greatest challenge is how to achieve accelerated

and sustainable growth in the backdrop of huge

untapped market potential, intrinsic strength to seek

inclusive growth.

lFocus on Performance Management: output oriented organization

lInnovation: a gateway to growth

In a dynamic business environment, a reinvention exercise is the

only way to avoid demise and obtain eternal organizational life, as

practised by most of the top companies in the world.

lWorld Class Leadership

High Performance Leadership is at the centre-stage to strive for

world-class. And trust is the foundation of leadership. Leaders

who are fiercely ambitious and driven by passion have their

ambitions directed towards their company and industry rather

than themselves.

Summation: Concluding observations

Growth dynamics at the emerging market place provide a context

around which leaders and captains of industry do visioning and

strategizing. What does fundamentally determine growth and profit

potential of business? What does a company do to protect its territory

from another firm seeking to dislodge it and from designs of new

entrants? How is it able to forecast its future under shifting and

uncertain conditions – or predict how its rivals will behave under

those same conditions? Insurance industry ought to ponder on these

key riders and respond proactively.

27

irda j

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al Ju

ly 2

010

issue focus

26

irda j

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ly 2

010

Protection of Insurance Policyholders' interests:

Policyholders are a major stakeholder for insurance companies and

protecting their interests becomes a major priority. It becomes

obligatory for insurers as service providers to protect interests of

policyholders, as 'consumers' of insurance services. Insurance

Regulatory and Developmnet Authority (IRDA) has notified

regulations for Protection of Policyholders' Interests in 2002. As per

the regulations, all insurers have to set up grievance redressal

mechanisms to address complaints and grievances of policyholders

efficiently with a sense of urgency. IRDA has been monitoring such

systems in operation with insurance companies to ensure their

efficacy. Such regulations empower policyholders for a hassle-free

and transparent interface with insurance companies to safeguard their

legitimate interests and going beyond that to suggest proactive

measures and practices for insurance industry. Setting up of

Ombudsmen across the country is a major milestone as an institution

set up to safeguard interests of insurance policyholders. What is

needed is greater awareness and understanding on the part of service

providers and policyholders – service users - to be proactive and

benefit from such set up. Yet another recent milestone on the part of

IRDA relates to corporate governance domain which is crucial not

only for insurance industry but for India Incorporated; and in similar

context, IRDA guidelines on Anti-Money Laundering (AM) effective st1 July, 2005 for insurance companies relating to important aspects to

protect interests of customers.

One simple tenet for organizations to move from 'good to great' is to

provide customer orientation in every possible way. At the heart of

this tenet is customer orientation. One decade of liberalized

insurance industry in India has seen some turbulent times for most of

the players. Organizations are therefore moving from organization

orientation to customer orientation and protection of policyholders in

the case of insurance service providers.

As is common knowledge, consumer awareness for insurance in India

is far too low, and surprisingly, quite so even for urban populace in

general. Claims is the defining moment when insurance

policyholders specially need to be protected – to be treated fairly and

expeditiously for settlement of claims, with insurers providing

facilitation to do so.

Insurance as a 'service', unlike a product, has

its own characteristics. Insurers ought to follow

the Rule Book of Services Management &

Marketing to assist and protect interests of

policyholders. This will go a long way to retain

clients, add on through word of mouth and

relate to them as a part of relationship

management - in the process, building trust

and, hopefully, customer loyalty.

It is time to re-examine the traditional system to

company-centric value creation that has

served organizations so well over the past

hundred years. We now need a new frame of

reference for value creation. The answer lies in

a different premise centered on co-creation of

value. It begins with the changing role of the

consumer in the industrial system - from

isolated to connected, from unaware to

informed, from passive to active.

Companies can no longer act autonomously,

designing products, developing production

processes, crafting marketing messages, and

controlling sales channels with little or no

interference from consumers. These

personalized co-creation experiences with

new-age customers are the source of unique

value for consumers and companies alike.

Thus organizations need to move from the

traditional approach of value creation to the

new frame of reference for value creation. The

focus is on people interacting with people and

serving the consumer what he expects through

newer experiences. Co-creation is possible by

merging the company think with the consumer

think.

Many companies rarely seem to consider

aspirations, frustrations and wishes of the

heterogeneous group of consumers who

experience their product or service. Instead

they focus on the efficiency of production and

logistical systems. Misled by company think,

operational managers cluster the marketplace

with products that are feature rich but

experience poor. For the consumers,

technology convergence can create

experience divergence. These are some new

learning for Indian insurers and India

Incorporated in the domain of product

It is time to re-examine the traditional system to

company-centric value creation that has served

organizations so well over the past hundred years.

innovation; more so at this point of time when

insurance industry in India is poised for

charting new growth curve through financial

inclusion and seeking transformation.

Services Sector: Insurance industry in India

Understanding nuances of 'services'

management and marketing, in contrast to

'products', is vital to accelerate growth of

services segment. Service industry of which

insurance forms a significant constituent forms

the backbone of social and economic

development of a nation. It has emerged as the

largest and fastest growing sector in world-

economy, so also in India. Insurance services

are intangible. Managing a service requires

knowledge and understanding of its four

characteristics: intangibility, inseparability,

variability and perishability. For each one

there are important implications for marketing

mix and reaching a 'scale' and volume of

operations to sustain accelerated and

profitable growth.

Growth story of insurance industry in India is

inspiring, never mind some hiccups on the

way. The upswing observed in business

growth curve is robust what with impressive

GDP for the economy with sound

fundamentals and business optimism

unabated. The greatest challenge is how to

achieve accelerated and sustainable growth in

the backdrop of huge untapped market

potential, intrinsic strength to seek inclusive

growth. To sustain this level of performance

and provide a fillip for inclusive growth, it is

imperative to overhaul traditional 5 Ps of

m a r k e t i n g - m i x a n d m a s t e r n e w

comprehension for services marketing and

management per-se.

In today's complicated, differentiated

marketplace, success often means tailoring

service offerings to the price level and

expectation level of new age customers. Great

companies know how to discern the difference

and give specific customers exactly what they

want at the price they can bear.

That's why every service organization such as

in insurance segment in its quest to become

world-class should develop a service strategy

and implementation plan; distinct from what traditionally applies to

'products' of manufacturers.

Strategies for developing world-class organizations - some pointers:

lGlobal economic awareness

The first requirement to venture into this journey is to acquire

knowledge and understanding of global business environment

and global market place.

lQuality Excellence

Quality is a dynamic state associated with products, service,

people processes, and environments that meet or exceed

customer's expectations. In today's market place quality is the

creed for winning.

The greatest challenge is how to achieve accelerated

and sustainable growth in the backdrop of huge

untapped market potential, intrinsic strength to seek

inclusive growth.

lFocus on Performance Management: output oriented organization

lInnovation: a gateway to growth

In a dynamic business environment, a reinvention exercise is the

only way to avoid demise and obtain eternal organizational life, as

practised by most of the top companies in the world.

lWorld Class Leadership

High Performance Leadership is at the centre-stage to strive for

world-class. And trust is the foundation of leadership. Leaders

who are fiercely ambitious and driven by passion have their

ambitions directed towards their company and industry rather

than themselves.

Summation: Concluding observations

Growth dynamics at the emerging market place provide a context

around which leaders and captains of industry do visioning and

strategizing. What does fundamentally determine growth and profit

potential of business? What does a company do to protect its territory

from another firm seeking to dislodge it and from designs of new

entrants? How is it able to forecast its future under shifting and

uncertain conditions – or predict how its rivals will behave under

those same conditions? Insurance industry ought to ponder on these

key riders and respond proactively.

29

irda j

ourn

al Ju

ly 2

010

issue focus

28

irda j

ourn

al Ju

ly 2

010

Indian insurance industry is a reservoir of great

talent and resourcefulness. Over the past ten years

since private sector participation, the industry has

been on the move to create new pace in the

emerging market.

Major concerns of organizations are with regard to survival, growth,

managing business cycles, corporate governance and corporate

citizenship with varying degree of emphasis. Emerging market

dynamics shape the color and shade of competition. Also a series of

new initiatives unleashed by the regulator will have far reaching

implications to foster growth and development, apart from inventive

genius of insurance companies.

The change in the global canvass has changed the way the world

perceives India surging ahead with robust growth propelled by a

booming economy with sound fundamentals. The need of the hour is

to rethink and revisit strategy - to review business models, processes

and products and innovate at every stage to gain and sustain

advantage over competitors; and to re-engineer human capital and

human resource through inventive HR policies and practices that

empower 'people' and 'organizations'. Briefly put, HR policies that

are people oriented and 'Put People First'.

Organizations ought to have a re-look at their present strengths and

weaknesses in a market that has been on the move, and go back to

basics. The changes underway that shape market equilibrium are only

a tip of an iceberg. Soon the insurance market is expected to witness

new equations of supply, demand, distribution matrix and

overwhelming might of customers - a total paradigm shift.

And it is time to get into a state of readiness on all fronts to meet new

challenges and benefit from vast opportunities. The competitive

landscape of the industry has been changing rapidly. Public sector

enterprises are back in saddle with all their might and continue to

drive market both life and non-life insurance. So also private insurers,

more so life insurers, who are set to garner market share and achieve a

scalability for break-even and operating surplus. The next decade of

free insurance market in India is expected to witness major re-

engineering drive on all fronts including product design and pricing,

distribution matrix, new business models,

customer centricity and possibly mergers and

acquisitions. The game is changing.

Indian insurance industry is a reservoir of great

talent and resourcefulness. Over the past ten

years since private sector participation, the

industry has been on the move to create new

pace in the emerging market. Yet the path

ahead needs to be pursued head-on with zeal

and passion to earn world-class status. Hyper

competition is a key feature of the new

economy. Customers want it quicker, cheaper

and want it their way. Hyper competition

ensures a fast changing equilibrium where no

organization's competitive advantage lasts for

long. Early mover advantage has become

transitory with market forces moving at a

galloping speed. And the best open secret is

that insurance industry constituents and

thought leaders are aware of this proposition.

Interesting, isn't it?

As Asia emerges from the global economic

crisis faster than the rest of the world, it is

increasingly clear that the world's centre of

gravity is shifting from the Atlantic to the

Pacific. This could be Asia's hour. And this

could be India's hour to build a super economy

bestowed by world-class organizations and

industries. For insurance industry in India, this

is destined to be a long drawn journey. And the

best is yet to come.

Source References :

l'First break all the Rules' – Coffman

l'From Good to Great' – Jim Collins

l'The New Age of Innovation' – C K Prahalad

l'The Future of Competition: Co-creating

Unique Value with Customers ' –

C K Prahalad, V. Ramaswamy

lIRDA Journals

The author is Sr. Consultant, Asia Insurance Post; and

Former GM, GIC of India.

- Key to Success in Life Insurance

Pro-active Customer Service

Anand Pejawar opines that there is increasing emphasis on prompt customer service

and adds that companies have to be imaginative in finding new ways of rendering it.

industry more knowledgeable and demanding.

The role of the customer is also very important as he / she needs to know the rights, privileges and obligations of the customer in a much better manner so that it can be exercised more effectively.

In spite of this, certain aspects which the customer needs to keep in mind and attentively look at in terms of pre sales service are enumerated below:

In every service industry, customer is always the king and customer service is the key to the success. This is also true in the Indian life insurance industry. In other segments, which are non-service in nature or where there is a 'tangible object' available with the customer, the question of 'service' does not arise largely, though it cannot be completely ruled out. However, in segments like hospitality industry and insurance (both Life and Non life), this word 'service' attains great importance.

Especially in life insurance industry, this word 'service' has a different connotation depending upon the stage at which the sale is and can be roughly bifurcated into two categories:

a) Pre Sale Service

b) Post Sale Service

The pre sale service, though of a different nature is equally important as the post sale service, unlike other service industry. In case of life insurance, the post sale service is quite unique and attains more importance due to its long nature / tenure of the product, as it has to run throughout the tenure of the policy. This, as we all know, could range anywhere between 3-5 years to life long i.e. 40 -50 years.

In today's jet speed technical environment, where the customer expects things at the click of the button, this aspect of service has gained higher prominence. Especially with the private sector insurance companies opening shop and bringing in latest technology and newer methods of providing service, this is being used by the industry as a cutting edge over their competitors. The Regulator is also playing a very important role in educating the general public of its rights and obligations which has also made today's consumer in insurance

A) Right product offering:

In today's scenario where the nature and type of life insurance products have undergone a sea change and each one having a varied structure, it has become imperative for the customer to first fully understand the basic features of the product. A proper “FABing exercise” (Features, Advantages and Benefits) with the advisor will be more beneficial to the customer. Customer should also find out what advantages do the features in the product provide him and what benefits can be derived from the same to meet his insurance “needs”. The customer must also understand how the product performs on a comparative basis with the similar product lines available in the industry, in case of an investment product offered.

What is the insurance requirement? How much insurance do I need? Is the advisor recommending the right product to me? How will the product look like in its full term? What are the survival and death benefits and how will the same function and fall due? How would the proposed product stand out? These are certain questions that would hit the mind of the customer. Such an intangible product runs for a

The pre sale service, though of a different nature

is equally important as the post sale service,

unlike other service industry.

29

irda j

ourn

al Ju

ly 2

010

issue focus

28

irda j

ourn

al Ju

ly 2

010

Indian insurance industry is a reservoir of great

talent and resourcefulness. Over the past ten years

since private sector participation, the industry has

been on the move to create new pace in the

emerging market.

Major concerns of organizations are with regard to survival, growth,

managing business cycles, corporate governance and corporate

citizenship with varying degree of emphasis. Emerging market

dynamics shape the color and shade of competition. Also a series of

new initiatives unleashed by the regulator will have far reaching

implications to foster growth and development, apart from inventive

genius of insurance companies.

The change in the global canvass has changed the way the world

perceives India surging ahead with robust growth propelled by a

booming economy with sound fundamentals. The need of the hour is

to rethink and revisit strategy - to review business models, processes

and products and innovate at every stage to gain and sustain

advantage over competitors; and to re-engineer human capital and

human resource through inventive HR policies and practices that

empower 'people' and 'organizations'. Briefly put, HR policies that

are people oriented and 'Put People First'.

Organizations ought to have a re-look at their present strengths and

weaknesses in a market that has been on the move, and go back to

basics. The changes underway that shape market equilibrium are only

a tip of an iceberg. Soon the insurance market is expected to witness

new equations of supply, demand, distribution matrix and

overwhelming might of customers - a total paradigm shift.

And it is time to get into a state of readiness on all fronts to meet new

challenges and benefit from vast opportunities. The competitive

landscape of the industry has been changing rapidly. Public sector

enterprises are back in saddle with all their might and continue to

drive market both life and non-life insurance. So also private insurers,

more so life insurers, who are set to garner market share and achieve a

scalability for break-even and operating surplus. The next decade of

free insurance market in India is expected to witness major re-

engineering drive on all fronts including product design and pricing,

distribution matrix, new business models,

customer centricity and possibly mergers and

acquisitions. The game is changing.

Indian insurance industry is a reservoir of great

talent and resourcefulness. Over the past ten

years since private sector participation, the

industry has been on the move to create new

pace in the emerging market. Yet the path

ahead needs to be pursued head-on with zeal

and passion to earn world-class status. Hyper

competition is a key feature of the new

economy. Customers want it quicker, cheaper

and want it their way. Hyper competition

ensures a fast changing equilibrium where no

organization's competitive advantage lasts for

long. Early mover advantage has become

transitory with market forces moving at a

galloping speed. And the best open secret is

that insurance industry constituents and

thought leaders are aware of this proposition.

Interesting, isn't it?

As Asia emerges from the global economic

crisis faster than the rest of the world, it is

increasingly clear that the world's centre of

gravity is shifting from the Atlantic to the

Pacific. This could be Asia's hour. And this

could be India's hour to build a super economy

bestowed by world-class organizations and

industries. For insurance industry in India, this

is destined to be a long drawn journey. And the

best is yet to come.

Source References :

l'First break all the Rules' – Coffman

l'From Good to Great' – Jim Collins

l'The New Age of Innovation' – C K Prahalad

l'The Future of Competition: Co-creating

Unique Value with Customers ' –

C K Prahalad, V. Ramaswamy

lIRDA Journals

The author is Sr. Consultant, Asia Insurance Post; and

Former GM, GIC of India.

- Key to Success in Life Insurance

Pro-active Customer Service

Anand Pejawar opines that there is increasing emphasis on prompt customer service

and adds that companies have to be imaginative in finding new ways of rendering it.

industry more knowledgeable and demanding.

The role of the customer is also very important as he / she needs to know the rights, privileges and obligations of the customer in a much better manner so that it can be exercised more effectively.

In spite of this, certain aspects which the customer needs to keep in mind and attentively look at in terms of pre sales service are enumerated below:

In every service industry, customer is always the king and customer service is the key to the success. This is also true in the Indian life insurance industry. In other segments, which are non-service in nature or where there is a 'tangible object' available with the customer, the question of 'service' does not arise largely, though it cannot be completely ruled out. However, in segments like hospitality industry and insurance (both Life and Non life), this word 'service' attains great importance.

Especially in life insurance industry, this word 'service' has a different connotation depending upon the stage at which the sale is and can be roughly bifurcated into two categories:

a) Pre Sale Service

b) Post Sale Service

The pre sale service, though of a different nature is equally important as the post sale service, unlike other service industry. In case of life insurance, the post sale service is quite unique and attains more importance due to its long nature / tenure of the product, as it has to run throughout the tenure of the policy. This, as we all know, could range anywhere between 3-5 years to life long i.e. 40 -50 years.

In today's jet speed technical environment, where the customer expects things at the click of the button, this aspect of service has gained higher prominence. Especially with the private sector insurance companies opening shop and bringing in latest technology and newer methods of providing service, this is being used by the industry as a cutting edge over their competitors. The Regulator is also playing a very important role in educating the general public of its rights and obligations which has also made today's consumer in insurance

A) Right product offering:

In today's scenario where the nature and type of life insurance products have undergone a sea change and each one having a varied structure, it has become imperative for the customer to first fully understand the basic features of the product. A proper “FABing exercise” (Features, Advantages and Benefits) with the advisor will be more beneficial to the customer. Customer should also find out what advantages do the features in the product provide him and what benefits can be derived from the same to meet his insurance “needs”. The customer must also understand how the product performs on a comparative basis with the similar product lines available in the industry, in case of an investment product offered.

What is the insurance requirement? How much insurance do I need? Is the advisor recommending the right product to me? How will the product look like in its full term? What are the survival and death benefits and how will the same function and fall due? How would the proposed product stand out? These are certain questions that would hit the mind of the customer. Such an intangible product runs for a

The pre sale service, though of a different nature

is equally important as the post sale service,

unlike other service industry.

issue focus

30

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31

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long tenure and most of the time the benefits are derived by the family members and not seen by the person who is actually taking the policy.

The Regulator has brought in adequate regulation, which now takes care of all these questions, exclusively for the benefit of the customer. This requires the customer to provide the insurance advisor full information on his family background, investments, insurance needs, etc., and the output generated, based on the information provided (called need analysis), from such tools are rightly understood by the customer in the right way / manner.

i) Need Analysis: With effect from July 1, 2010 this is a very important tool available to the customer wherein after answering the questions and giving relevant information, the customer along with his advisor can fully understand the insurance needs and decide upon how the recommended product will help the customer to meet his “need”. This then becomes the basis for recommendation of the required product.

Once the need analysis is done and the desired insurance need has been identified, the product which meets the need is suggested / recommended and accepted, if found suitable, by the customer. This need analysis has to be signed, both by the customer and the advisor confirming the data provided for and accepting recommendation given by the advisor. In case the customer does not wish to provide the data required then the same has to be noted on the same and signed by the customer. Here the onus is on the customer to provide the correct data which will enable the advisor to identify the need and then recommend the right product to meet the requirement.

ii) Customised Benefit Illustrator (CBI): Once having decided to go in for a particular product, which is based on the outcome of the Need Analysis, the customer would be given a CBI which clearly demonstrates the true picture of the policy and how it would run over its entire tenure. This typical CBI would include all the required information like the premium amount payable, tenure, the periodicity/mode of premium, survival benefits payable, if any, death claim etc. In case of an investment plan, it would also give an indicative return at a predetermined rate of 6% and 10% p.a. (mandated by the Regulator). It would also show the mortality risk cover charges, administration charges, policy servicing charges, service tax, etc., that would be deducted at regular intervals from such investment. This CBI also needs to be signed by customer in token of his acknowledging having read and understood the data/information

stprovided in the CBI. From 1 July 2010, all CBI's also provide the details of commission payable to the advisor on that particular product which will be seen by the customer in the CBI.

Both these documents, i.e. Copy of need analysis and CBI would then form a part of the final policy document and will be sent to the customer for his record.

The customer is expected to and must go through the policy document and if the same is not as per the agreed terms and conditions or as explained and understood by the Advisor, the customer has the option of canceling the policy under the Free Look Cancellation (FLC) option. This can be exercised by the customer within the first 15 days of the receipt of the said policy document.

This is what should be known by the customer in the first leg of the transaction which starts from Pre Sale (sourcing of business) to sales (conversion of proposal into actual policy).

Some of the companies have also started the service of 'Welcome calls', which also helps the companies to verify the details mentioned in the proposals and ensure proper selling. This has reduced the instances of mis-selling to a large extent.

iii) Policy Bond The policy bond itself is a very important document and must contain all the relevant information pertaining to the product in a simple and lucid language. It is also preferred, if the full or important pages of the policy bond are printed in local language, so as to make it easy for the customer to understand. It is also recommended that technical jargons used, if any, should be clearly defined / clarified to make proper sense to the customer. This policy bond is very important as in many cases; the usage of the document would arise when the purchaser of the policy (life assured) is no more. The policy document is actually the culmination and receipt of the contract as all life insurance policies are covered under the Contract Act. The authority has recently issued instructions for companies to come out with smaller versions of the bond, which should contain all the necessary information that is useful to the customer.

B) Post Sale Service:

In the normal post sale service, issues like change in nomination, assignment of the policy, reassignment of the policy, address change etc., are taken care of.

i)Nomination: This is a very important noting that needs to be done on the policy document as the monies in case of the death of the life assured will be only payable to the nominee. In case the nomination is not made or the nominated person pre-deceases the life assured then fresh nomination needs to be done and recorded on the original policy document. Many a times it is seen that the

nomination is not done or the person nominated has already expired before the life assured. In such cases the payment of claims takes a long time and in most of the cases it involves legal issues.

ii) Assignment of the policy: Usually when the life insurance policy is given as a collateral security to the lending organization, it is necessary to ensure that the policy is assigned in its favour. This has to be recorded on the policy document. In such assigned policies the nomination automatically gets inoperative.

iii) Reassignment of such assigned policy: In case where the insurance policy has been assigned in favour of the lending organisation, and the underlying liability is cleared off; the lending institution needs to issue a No Objection Certificate (NOC). On receipt of the same this has to be again notified to the insurance company and endorsed on the original policy document. Upon reassignment the customer must do a re-nomination. This is very crucial activity, which the customer needs to do and which is usually missed out by the customer.

iv) Other services provided: Any change which is different from the original instructions given at the time of entering into the contract with the insurance company such as Change of address, change in the mode of premium payment, etc., have to be notified to the insurance company and the same needs to be notified and endorsed on the original policy document. On getting a request from the customer, the insurance company should promptly do the necessary changes and notify the same to the customer.

Use of Technology in customer service: Technology plays a very important role in enhancing customer service. The cell phone has become a very important instrument and the medium through which service is today provided to the customer:

a) SMS alerts: When the customer provides the cell number on the proposal form, (which is highly recommended) it can be made use of, for sending out various SMS alerts either giving information or certain reminders, which are delivered to the customer at the shortest possible time. Companies are using this facility to be in touch with their customers, sending birthday/anniversary greetings, details of the additional requirements, if any to help faster resolution of the policy, policy delivery details, lapse intimation, ECS activation/ deactivation, etc.

b) Payment of renewal premiums: With the cell phone technology closely interacting with

internet banking service, the payment of renewal premium has become very easy. Many banks, which are in mobile banking technology have the facility of making payment towards the life insurance policy premium making it very convenient and hassle free for the customer.

C) Interactive Customer Service Portal:

Companies today have designed and developed special dedicated interactive customer service portal wherein the customer can transact

their business with the insurance company. Through this portal service, payment of renewal premium, redirection of future premium, switching from one fund to another, logging of partial withdrawal notices, posting various enquiries regarding the policy, fund values, fund statement etc. can be easily seen and/ or extracted at any point of time at the convenience of the customer. All these have been made possible by closely integrating technology.

Certain companies have also tied up with banks to enable their customer to pay the renewal payment through large ATM network in the banking segment.

D) Grievance Redressal Mechanism: When we talk of service industry, there are chances of customer's dissatisfaction, wrong selling, mis-selling, deficiency in service etc. resulting in customer dissatisfaction. Almost all life insurance companies have set up effective customer Grievance Redressal System, which is also closely monitored by the Regulator from time to time. The Regulators have also instituted a Quasi – judicial redressal system by appointing Insurance Ombudsman where customer can approach for redressal of their grievances, if they are not satisfied with the insurance companies. IRDA is also in the process of setting up an integrated customer grievances mechanism (ICGM) and the process is expected to be completed very soon. This will bring further transparency into the system and customer service is expected to drastically improve further.

Though this seems to be a long list of things available with the customer to 'demand' better customer service, there is still a large scope for improvement. With the help of better technology and spirit, the company can work/aim towards the change of 'customer satisfaction' to 'customer delight', which will be the slogan of the future in customer service.

This need analysis has to be signed, both by the

customer and the advisor confirming the data

provided for and accepting recommendation given

by the advisor.

On getting a request from the customer, the

insurance company should promptly do the

necessary changes and notify the same to the

customer.

The author is Executive Director – Marketing, SBI Life Insurance Company Ltd.

issue focus

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long tenure and most of the time the benefits are derived by the family members and not seen by the person who is actually taking the policy.

The Regulator has brought in adequate regulation, which now takes care of all these questions, exclusively for the benefit of the customer. This requires the customer to provide the insurance advisor full information on his family background, investments, insurance needs, etc., and the output generated, based on the information provided (called need analysis), from such tools are rightly understood by the customer in the right way / manner.

i) Need Analysis: With effect from July 1, 2010 this is a very important tool available to the customer wherein after answering the questions and giving relevant information, the customer along with his advisor can fully understand the insurance needs and decide upon how the recommended product will help the customer to meet his “need”. This then becomes the basis for recommendation of the required product.

Once the need analysis is done and the desired insurance need has been identified, the product which meets the need is suggested / recommended and accepted, if found suitable, by the customer. This need analysis has to be signed, both by the customer and the advisor confirming the data provided for and accepting recommendation given by the advisor. In case the customer does not wish to provide the data required then the same has to be noted on the same and signed by the customer. Here the onus is on the customer to provide the correct data which will enable the advisor to identify the need and then recommend the right product to meet the requirement.

ii) Customised Benefit Illustrator (CBI): Once having decided to go in for a particular product, which is based on the outcome of the Need Analysis, the customer would be given a CBI which clearly demonstrates the true picture of the policy and how it would run over its entire tenure. This typical CBI would include all the required information like the premium amount payable, tenure, the periodicity/mode of premium, survival benefits payable, if any, death claim etc. In case of an investment plan, it would also give an indicative return at a predetermined rate of 6% and 10% p.a. (mandated by the Regulator). It would also show the mortality risk cover charges, administration charges, policy servicing charges, service tax, etc., that would be deducted at regular intervals from such investment. This CBI also needs to be signed by customer in token of his acknowledging having read and understood the data/information

stprovided in the CBI. From 1 July 2010, all CBI's also provide the details of commission payable to the advisor on that particular product which will be seen by the customer in the CBI.

Both these documents, i.e. Copy of need analysis and CBI would then form a part of the final policy document and will be sent to the customer for his record.

The customer is expected to and must go through the policy document and if the same is not as per the agreed terms and conditions or as explained and understood by the Advisor, the customer has the option of canceling the policy under the Free Look Cancellation (FLC) option. This can be exercised by the customer within the first 15 days of the receipt of the said policy document.

This is what should be known by the customer in the first leg of the transaction which starts from Pre Sale (sourcing of business) to sales (conversion of proposal into actual policy).

Some of the companies have also started the service of 'Welcome calls', which also helps the companies to verify the details mentioned in the proposals and ensure proper selling. This has reduced the instances of mis-selling to a large extent.

iii) Policy Bond The policy bond itself is a very important document and must contain all the relevant information pertaining to the product in a simple and lucid language. It is also preferred, if the full or important pages of the policy bond are printed in local language, so as to make it easy for the customer to understand. It is also recommended that technical jargons used, if any, should be clearly defined / clarified to make proper sense to the customer. This policy bond is very important as in many cases; the usage of the document would arise when the purchaser of the policy (life assured) is no more. The policy document is actually the culmination and receipt of the contract as all life insurance policies are covered under the Contract Act. The authority has recently issued instructions for companies to come out with smaller versions of the bond, which should contain all the necessary information that is useful to the customer.

B) Post Sale Service:

In the normal post sale service, issues like change in nomination, assignment of the policy, reassignment of the policy, address change etc., are taken care of.

i)Nomination: This is a very important noting that needs to be done on the policy document as the monies in case of the death of the life assured will be only payable to the nominee. In case the nomination is not made or the nominated person pre-deceases the life assured then fresh nomination needs to be done and recorded on the original policy document. Many a times it is seen that the

nomination is not done or the person nominated has already expired before the life assured. In such cases the payment of claims takes a long time and in most of the cases it involves legal issues.

ii) Assignment of the policy: Usually when the life insurance policy is given as a collateral security to the lending organization, it is necessary to ensure that the policy is assigned in its favour. This has to be recorded on the policy document. In such assigned policies the nomination automatically gets inoperative.

iii) Reassignment of such assigned policy: In case where the insurance policy has been assigned in favour of the lending organisation, and the underlying liability is cleared off; the lending institution needs to issue a No Objection Certificate (NOC). On receipt of the same this has to be again notified to the insurance company and endorsed on the original policy document. Upon reassignment the customer must do a re-nomination. This is very crucial activity, which the customer needs to do and which is usually missed out by the customer.

iv) Other services provided: Any change which is different from the original instructions given at the time of entering into the contract with the insurance company such as Change of address, change in the mode of premium payment, etc., have to be notified to the insurance company and the same needs to be notified and endorsed on the original policy document. On getting a request from the customer, the insurance company should promptly do the necessary changes and notify the same to the customer.

Use of Technology in customer service: Technology plays a very important role in enhancing customer service. The cell phone has become a very important instrument and the medium through which service is today provided to the customer:

a) SMS alerts: When the customer provides the cell number on the proposal form, (which is highly recommended) it can be made use of, for sending out various SMS alerts either giving information or certain reminders, which are delivered to the customer at the shortest possible time. Companies are using this facility to be in touch with their customers, sending birthday/anniversary greetings, details of the additional requirements, if any to help faster resolution of the policy, policy delivery details, lapse intimation, ECS activation/ deactivation, etc.

b) Payment of renewal premiums: With the cell phone technology closely interacting with

internet banking service, the payment of renewal premium has become very easy. Many banks, which are in mobile banking technology have the facility of making payment towards the life insurance policy premium making it very convenient and hassle free for the customer.

C) Interactive Customer Service Portal:

Companies today have designed and developed special dedicated interactive customer service portal wherein the customer can transact

their business with the insurance company. Through this portal service, payment of renewal premium, redirection of future premium, switching from one fund to another, logging of partial withdrawal notices, posting various enquiries regarding the policy, fund values, fund statement etc. can be easily seen and/ or extracted at any point of time at the convenience of the customer. All these have been made possible by closely integrating technology.

Certain companies have also tied up with banks to enable their customer to pay the renewal payment through large ATM network in the banking segment.

D) Grievance Redressal Mechanism: When we talk of service industry, there are chances of customer's dissatisfaction, wrong selling, mis-selling, deficiency in service etc. resulting in customer dissatisfaction. Almost all life insurance companies have set up effective customer Grievance Redressal System, which is also closely monitored by the Regulator from time to time. The Regulators have also instituted a Quasi – judicial redressal system by appointing Insurance Ombudsman where customer can approach for redressal of their grievances, if they are not satisfied with the insurance companies. IRDA is also in the process of setting up an integrated customer grievances mechanism (ICGM) and the process is expected to be completed very soon. This will bring further transparency into the system and customer service is expected to drastically improve further.

Though this seems to be a long list of things available with the customer to 'demand' better customer service, there is still a large scope for improvement. With the help of better technology and spirit, the company can work/aim towards the change of 'customer satisfaction' to 'customer delight', which will be the slogan of the future in customer service.

This need analysis has to be signed, both by the

customer and the advisor confirming the data

provided for and accepting recommendation given

by the advisor.

On getting a request from the customer, the

insurance company should promptly do the

necessary changes and notify the same to the

customer.

The author is Executive Director – Marketing, SBI Life Insurance Company Ltd.

issue focus

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CP Udayachandran observes that while there are provisions for protecting the

interests of policyholders in the regulations, there is need for stronger methods of

ensuring their implementation.

- Interests of Policyholders

Commitment towards Protection

The existing legislation has, beyond any

reasonable doubt, helped create and sustain faith

and confidence among the insurance customers.

The ULIP affair has had an interesting fallout. It has brought out into

focus the issue of protection of policyholders. There were large-scale

complaints about non-ethical selling and lack of transparency in

policy terms that took centre-stage of the debate. The questions that it

raised also were substantial and significant from the viewpoint of the

insurance consumers.

There are two pieces of legislation available to the insurance

consumers for protection of their rights and interests. The first one is

the institution of Insurance Ombudsman set up under the Redressal of

Public Grievances Rules 1998; and the other one, the Protection of

Policyholders' Interests Regulation introduced in 2002 under the

IRDA Act 1999. While there is no denying the fact that these two aim

at legally safeguarding and protecting the policyholder's interests, the

essential question that remains is whether the existing legal

provisions are contemporary and adequate enough.

The existing legislation has, beyond any reasonable doubt, helped

create and sustain faith and confidence among the insurance

customers. However, curiously, these two pieces of legislation (are

and) remain separate and independent of each other. The

Policyholders' Interests Regulation contains a legally binding set of

rules for regulated entities, and does not offer any remedial measures

for the consumers. These include overarching general principles

concerning the manner in which a regulated

entity is required to operate in its dealings with

customers, such as:

lSales (Point of Sale),

lDocumentation (Proposal and Policy

document)

lClaims procedure

lResponse deadline to certain identified

processes.

Other than the general directions contained, it

only mentions that the Regulator shall initiate

action against insurers for breaches and

violations. Notwithstanding the clause [Clause

11(4)] that the Regulator may initiate action

against the insurer, it leaves one guessing as to

how the regulation proposes to locate

digression/s on the part of insurers and initiate

action.

The compliance and the corrective facets

should go hand in hand with exemplary

punitive measures whenever and wherever

there is a digression; and especially so, if the

digression is patent and deliberate. Without a

definite mechanism to collect or examine the

cases of service deficiency at a regular interval,

would it offer definite clues on the breaches?

How would the Regulator get timely and

proper feedback on the deficiency and assess

whether the same is a serious breach and also,

if there is a steady pattern to the service-

deficiency cases and initiate class action to

address the generic deficiency, if noticed?

While so, parallelly, the institution of

Insurance Ombudsman is aimed at providing

33

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remedial action to individual customers, but in

respect of personal line insurances, and

confining to defined areas, like:

lAny partial or total repudiation of claims by

an insurer.

lAny dispute in regard to premium paid or

payable in terms of the policy.

lAny dispute on the legal construction of the

policies in so far as such disputes relate to

claims.

lDelay in settlement of claims.

lNon-issue of any insurance document to

customers after receipt of premium.

A reading of the lists would reveal that there are

apparent gaps that need to be filled to make the

protection of consumers wholesome and

comprehensive. Ideally, both can and need to

be brought under a single umbrella and a

single piece of legislation to address the issues

in a holistic and comprehensive manner.

Instead of having multivarious channels for

remedies like Ombudsman and consumer

forum, the remedial action should be kept

under a single channel, which should be kept

as an extended arm of regulation. All the cases

currently falling under the Consumer Forum

and the Ombudsman can be transferred to the

new arm. The new position attached to the

Regulator may continue to be called the

Ombudsman or the Registrar of Complaints

and shall open an easy channel for conclusion

of cases swiftly and act as the repository of

cases offering a steady feedback on the cases

coming up against the insurers. This can be

analyzed for breach of regulatory mandates

and action appropriate initiated.

Where the Registrar determines that there has

been a breach of the disclosure rules after an

enquiry suo motu or a complaint lodged by a

consumer, the Registrar can require the insurer

by written notice, to take corrective steps

within a specified time table, and may also take

any other step in connection with the breach

which is available to the Registrar in law.

Maybe what happened in ULIP came out into the open as there was a

general uproar on account of a mass of digressions falling in the same

category and a few Public Interest Litigations, thanks to active

individuals and organisations. But, without a system like what is

suggested earlier, how would the Regulator get to know of digressions

by insurers, if the breaches are individual in nature, yet grave in effect?

Maybe, the forum and the Ombudsmen may give fair decisions in

such cases presented to them and they may award damages and

compensations, but is there presently any mechanism for these cases

The author works for Star Health and Allied Insurance Co. Ltd. The views are

strictly personal.

to be compiled and collected by the Regulator, and examined and

analyzed for breaches in terms of the Regulation? In the absence of it,

how can the Regulator honour the commitment of fairness given

under the Regulation, to the insuring public?

Irrespective of the fact that the legal and regulatory aspects are tough

and stringent, growth of the industry would also depend on how

quickly its members start internalizing and practicing self-regulation

for the benefit of creating confidence and trust on the consumers. Fair

treatment of customers must be central to the way in which the

industry members regulate themselves and their businesses.

The core principle driving regulation of the insurance industry

together with the enforcement of insurance laws ought to be

protection for consumers. For this, the regulatory system and the

monitoring that go hand in hand should be compatible with the

common law and offer a well ordered redressal system. Such a system

alone would ensure that all insurance industry members conduct

their insurance activities in a fair and equitable manner, while being

legally and financially responsible for errors and/or wrongful actions.

Fair treatment of customers must be central to

the way in which the industry members regulate

themselves and their businesses.

issue focus

32

irda j

ourn

al Ju

ly 2

010

CP Udayachandran observes that while there are provisions for protecting the

interests of policyholders in the regulations, there is need for stronger methods of

ensuring their implementation.

- Interests of Policyholders

Commitment towards Protection

The existing legislation has, beyond any

reasonable doubt, helped create and sustain faith

and confidence among the insurance customers.

The ULIP affair has had an interesting fallout. It has brought out into

focus the issue of protection of policyholders. There were large-scale

complaints about non-ethical selling and lack of transparency in

policy terms that took centre-stage of the debate. The questions that it

raised also were substantial and significant from the viewpoint of the

insurance consumers.

There are two pieces of legislation available to the insurance

consumers for protection of their rights and interests. The first one is

the institution of Insurance Ombudsman set up under the Redressal of

Public Grievances Rules 1998; and the other one, the Protection of

Policyholders' Interests Regulation introduced in 2002 under the

IRDA Act 1999. While there is no denying the fact that these two aim

at legally safeguarding and protecting the policyholder's interests, the

essential question that remains is whether the existing legal

provisions are contemporary and adequate enough.

The existing legislation has, beyond any reasonable doubt, helped

create and sustain faith and confidence among the insurance

customers. However, curiously, these two pieces of legislation (are

and) remain separate and independent of each other. The

Policyholders' Interests Regulation contains a legally binding set of

rules for regulated entities, and does not offer any remedial measures

for the consumers. These include overarching general principles

concerning the manner in which a regulated

entity is required to operate in its dealings with

customers, such as:

lSales (Point of Sale),

lDocumentation (Proposal and Policy

document)

lClaims procedure

lResponse deadline to certain identified

processes.

Other than the general directions contained, it

only mentions that the Regulator shall initiate

action against insurers for breaches and

violations. Notwithstanding the clause [Clause

11(4)] that the Regulator may initiate action

against the insurer, it leaves one guessing as to

how the regulation proposes to locate

digression/s on the part of insurers and initiate

action.

The compliance and the corrective facets

should go hand in hand with exemplary

punitive measures whenever and wherever

there is a digression; and especially so, if the

digression is patent and deliberate. Without a

definite mechanism to collect or examine the

cases of service deficiency at a regular interval,

would it offer definite clues on the breaches?

How would the Regulator get timely and

proper feedback on the deficiency and assess

whether the same is a serious breach and also,

if there is a steady pattern to the service-

deficiency cases and initiate class action to

address the generic deficiency, if noticed?

While so, parallelly, the institution of

Insurance Ombudsman is aimed at providing

33

irda j

ourn

al Ju

ly 2

010

remedial action to individual customers, but in

respect of personal line insurances, and

confining to defined areas, like:

lAny partial or total repudiation of claims by

an insurer.

lAny dispute in regard to premium paid or

payable in terms of the policy.

lAny dispute on the legal construction of the

policies in so far as such disputes relate to

claims.

lDelay in settlement of claims.

lNon-issue of any insurance document to

customers after receipt of premium.

A reading of the lists would reveal that there are

apparent gaps that need to be filled to make the

protection of consumers wholesome and

comprehensive. Ideally, both can and need to

be brought under a single umbrella and a

single piece of legislation to address the issues

in a holistic and comprehensive manner.

Instead of having multivarious channels for

remedies like Ombudsman and consumer

forum, the remedial action should be kept

under a single channel, which should be kept

as an extended arm of regulation. All the cases

currently falling under the Consumer Forum

and the Ombudsman can be transferred to the

new arm. The new position attached to the

Regulator may continue to be called the

Ombudsman or the Registrar of Complaints

and shall open an easy channel for conclusion

of cases swiftly and act as the repository of

cases offering a steady feedback on the cases

coming up against the insurers. This can be

analyzed for breach of regulatory mandates

and action appropriate initiated.

Where the Registrar determines that there has

been a breach of the disclosure rules after an

enquiry suo motu or a complaint lodged by a

consumer, the Registrar can require the insurer

by written notice, to take corrective steps

within a specified time table, and may also take

any other step in connection with the breach

which is available to the Registrar in law.

Maybe what happened in ULIP came out into the open as there was a

general uproar on account of a mass of digressions falling in the same

category and a few Public Interest Litigations, thanks to active

individuals and organisations. But, without a system like what is

suggested earlier, how would the Regulator get to know of digressions

by insurers, if the breaches are individual in nature, yet grave in effect?

Maybe, the forum and the Ombudsmen may give fair decisions in

such cases presented to them and they may award damages and

compensations, but is there presently any mechanism for these cases

The author works for Star Health and Allied Insurance Co. Ltd. The views are

strictly personal.

to be compiled and collected by the Regulator, and examined and

analyzed for breaches in terms of the Regulation? In the absence of it,

how can the Regulator honour the commitment of fairness given

under the Regulation, to the insuring public?

Irrespective of the fact that the legal and regulatory aspects are tough

and stringent, growth of the industry would also depend on how

quickly its members start internalizing and practicing self-regulation

for the benefit of creating confidence and trust on the consumers. Fair

treatment of customers must be central to the way in which the

industry members regulate themselves and their businesses.

The core principle driving regulation of the insurance industry

together with the enforcement of insurance laws ought to be

protection for consumers. For this, the regulatory system and the

monitoring that go hand in hand should be compatible with the

common law and offer a well ordered redressal system. Such a system

alone would ensure that all insurance industry members conduct

their insurance activities in a fair and equitable manner, while being

legally and financially responsible for errors and/or wrongful actions.

Fair treatment of customers must be central to

the way in which the industry members regulate

themselves and their businesses.

issue focus

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The intangibility of the product is an added

concern and people in general still prefer to keep

insurance as a last priority.

35

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lThe area covered is representative and not

exhaustive.

lAs it is not possible to cover the entire

population of customers, a cluster sampling

method of population is adopted to select

the clusters; and questionnaires are

collected from 250 Bangalore rural district

and 250 Kolar rural district customers,

selected by simple random sampling to

represent the whole population of these

two rural districts.

The existing policyholder protection

mechanisms:

Any life insurance company, or for that matter

any financial institution, cannot think of

keeping its shop open in the market without

the trust of its customers. Trust is reinforced

when the pledges are redeemed. The contract

of insurance ordains the insurance company to

settle the maturity claims on the due date and

all the death claims within a reasonable time

frame. A hassle free simple claim process

mechanism with a provision of simple

redressing systems in case of delays instills

confidence in the minds of the people.

The public sector life insurance behemoth has

developed and perfected a robust claim

intimation procedure. An auto list of claims

payable for the entire year is generated at the

beginning of the year itself. At least 3 months in

advance one more auto list with additions and

deletions is generated at the policy servicing

department for sending auto generated letters.

If requirements do not come forth at least a

month before the due date, a registered letter is

sent and would be entrusted to the agent.

Vigorous follow up is made until the

requirements are received; and claims are

settled within one month before due date. For

all survival benefits up to Rs.2 lakh, a hassle

free settlement without calling for the basic

requirements of policy bond and discharge

voucher is devised. For death claims, all non

early claims that arise after two years from the

date of acceptance of risk need to be settled

immediately on the strength of abridged

claimant form (Claim form A) and death certificate. (Source: The

Stream by V.V.S. Rama Sharma).

For any repudiation of claim, the corporation writes a detailed letter to

the claimant stating therein the reason for repudiating the claim. It is

compulsory for the insurer to provide the address of Claims Review

Committee for appeal in case the claimant prefers an appeal. On

receiving the appeal, the Review Committee, consisting of Zonal

officials and the retired judges of District Court or High Court once

again go through the claim papers and review the decisions of the

lower office. If the claim is still not payable, the claimant is given the

option to appeal to the Chairman. The repudiations are however very

low. All this ensures trust in the minds of the people.

In order to solve customer grievances, a grievance redressal

mechanism is also perfected with the formation of various forums at

different levels of operation – starting from the branch office right up

to the corporate office. A Citizen's Charter also is in place which

reiterates its commitments to customers and the standards for general

procedures, the standards of policy servicing, the standards for easy

access to information and standards for fairness in dealing with

customers. All this goes to instill trust in the general public.

Some of the private players have developed a robust IT department

and generate claim intimation letters in advance. To avoid pitfalls and

loopholes, there is an IT backed initiative of generating policy specific

claim forms with bar codes to be dispatched to the claimants. This

ensures curbing the unethical practice of not registering claims until

receiving the requirements at the branch level for avoiding delays.

The other different life insurance companies have similar hassle free

claim settlement procedures suiting to their convenience for building

and sustaining the trust levels.

The marketing problems:

a. In order to understand the pattern of life insurance sales in rural

areas, a specific question (question no) is asked to the policy

holders and the results are tabulated and discussed in the

following Table 1.

Table 1 showing whether the customers feel that the agents

have resorted to deceptive sale of the policies.

Name of Agents Agents not Percentage of agents

the District resorted to resorted to who resorted

mis selling mis selling to mis selling

Bangalore 128 122 51.20%

Rural

Kolar Rural 101 149 40.40%

Totals 229 271 45.80%

Source: Primary data.

- Rural Policyholder Protection

A Myth or a Reality?

K.Nagaraja Rao and Dr Y.Raja Ram write that in spite of all the measures taken, the level

of confidence of the rural customer as regards the private players is still very low; and

add that there is need for arresting this trend forthwith.

Customer retention is the upper-most concern for any industry and

insurance is not an exception to this general rule. An informed and a

satisfied customer is a brand ambassador for the industry. The

opening up of insurance industry in the last one decade to private

players and the establishment of IRDA are the landmark events in the

insurance sector towards innovations in designing need-based

policies and laying down regulatory obligations towards policyholder

protection. An attempt is made in this article to analyze the existing

policyholder protection mechanism on the basis of secondary data

and the rural realities through primary data collected from 500 policy

holders of two rural districts of Karnataka.

Methodology for collecting primary data:

For studying the behavior of the rural customers, a study is made by

contacting 500 customers of Bangalore rural and Kolar rural districts.

Since almost all private life insurance companies have operations in

these two districts, it provided an opportunity to study the customer

preferences. For collecting the responses from the customers, 'Cluster

Sampling' technique followed by 'Simple Random Sampling' is

adopted by the author to ensure the representation of the data for the

whole population. Based on 2001 census, the

villages contiguous from North West to South

East covering approximately 20,000

population were identified as a cluster. From

the data of insured population taken from the

records of the agents, one out of 500

policyholders is taken out by simple random

sampling to ensure that all policyholders in the

population have an equal chance of being

selected. The secondary data is taken from

insurance journals, magazines, insurance

websites and books on insurance.

Introduction:

Policyholders pay for a future promise that is

redeemable at a later date. The intangibility of

the product is an added concern and people in

general still prefer to keep insurance as a last

priority. The low levels of awareness about

insurance and the regulating body tend to keep

them investing in government companies and

also in government brand companies. The

regula tory mechanisms re la t ing to

policyholder protection are confined to urban

environments and there is a need to address

rural policyholders in this aspect.

Limitations:

lThe results obtained are based on the

information provided by the customers and

agents of life insurance at the time of

survey.

issue focus

34

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The intangibility of the product is an added

concern and people in general still prefer to keep

insurance as a last priority.

35

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lThe area covered is representative and not

exhaustive.

lAs it is not possible to cover the entire

population of customers, a cluster sampling

method of population is adopted to select

the clusters; and questionnaires are

collected from 250 Bangalore rural district

and 250 Kolar rural district customers,

selected by simple random sampling to

represent the whole population of these

two rural districts.

The existing policyholder protection

mechanisms:

Any life insurance company, or for that matter

any financial institution, cannot think of

keeping its shop open in the market without

the trust of its customers. Trust is reinforced

when the pledges are redeemed. The contract

of insurance ordains the insurance company to

settle the maturity claims on the due date and

all the death claims within a reasonable time

frame. A hassle free simple claim process

mechanism with a provision of simple

redressing systems in case of delays instills

confidence in the minds of the people.

The public sector life insurance behemoth has

developed and perfected a robust claim

intimation procedure. An auto list of claims

payable for the entire year is generated at the

beginning of the year itself. At least 3 months in

advance one more auto list with additions and

deletions is generated at the policy servicing

department for sending auto generated letters.

If requirements do not come forth at least a

month before the due date, a registered letter is

sent and would be entrusted to the agent.

Vigorous follow up is made until the

requirements are received; and claims are

settled within one month before due date. For

all survival benefits up to Rs.2 lakh, a hassle

free settlement without calling for the basic

requirements of policy bond and discharge

voucher is devised. For death claims, all non

early claims that arise after two years from the

date of acceptance of risk need to be settled

immediately on the strength of abridged

claimant form (Claim form A) and death certificate. (Source: The

Stream by V.V.S. Rama Sharma).

For any repudiation of claim, the corporation writes a detailed letter to

the claimant stating therein the reason for repudiating the claim. It is

compulsory for the insurer to provide the address of Claims Review

Committee for appeal in case the claimant prefers an appeal. On

receiving the appeal, the Review Committee, consisting of Zonal

officials and the retired judges of District Court or High Court once

again go through the claim papers and review the decisions of the

lower office. If the claim is still not payable, the claimant is given the

option to appeal to the Chairman. The repudiations are however very

low. All this ensures trust in the minds of the people.

In order to solve customer grievances, a grievance redressal

mechanism is also perfected with the formation of various forums at

different levels of operation – starting from the branch office right up

to the corporate office. A Citizen's Charter also is in place which

reiterates its commitments to customers and the standards for general

procedures, the standards of policy servicing, the standards for easy

access to information and standards for fairness in dealing with

customers. All this goes to instill trust in the general public.

Some of the private players have developed a robust IT department

and generate claim intimation letters in advance. To avoid pitfalls and

loopholes, there is an IT backed initiative of generating policy specific

claim forms with bar codes to be dispatched to the claimants. This

ensures curbing the unethical practice of not registering claims until

receiving the requirements at the branch level for avoiding delays.

The other different life insurance companies have similar hassle free

claim settlement procedures suiting to their convenience for building

and sustaining the trust levels.

The marketing problems:

a. In order to understand the pattern of life insurance sales in rural

areas, a specific question (question no) is asked to the policy

holders and the results are tabulated and discussed in the

following Table 1.

Table 1 showing whether the customers feel that the agents

have resorted to deceptive sale of the policies.

Name of Agents Agents not Percentage of agents

the District resorted to resorted to who resorted

mis selling mis selling to mis selling

Bangalore 128 122 51.20%

Rural

Kolar Rural 101 149 40.40%

Totals 229 271 45.80%

Source: Primary data.

- Rural Policyholder Protection

A Myth or a Reality?

K.Nagaraja Rao and Dr Y.Raja Ram write that in spite of all the measures taken, the level

of confidence of the rural customer as regards the private players is still very low; and

add that there is need for arresting this trend forthwith.

Customer retention is the upper-most concern for any industry and

insurance is not an exception to this general rule. An informed and a

satisfied customer is a brand ambassador for the industry. The

opening up of insurance industry in the last one decade to private

players and the establishment of IRDA are the landmark events in the

insurance sector towards innovations in designing need-based

policies and laying down regulatory obligations towards policyholder

protection. An attempt is made in this article to analyze the existing

policyholder protection mechanism on the basis of secondary data

and the rural realities through primary data collected from 500 policy

holders of two rural districts of Karnataka.

Methodology for collecting primary data:

For studying the behavior of the rural customers, a study is made by

contacting 500 customers of Bangalore rural and Kolar rural districts.

Since almost all private life insurance companies have operations in

these two districts, it provided an opportunity to study the customer

preferences. For collecting the responses from the customers, 'Cluster

Sampling' technique followed by 'Simple Random Sampling' is

adopted by the author to ensure the representation of the data for the

whole population. Based on 2001 census, the

villages contiguous from North West to South

East covering approximately 20,000

population were identified as a cluster. From

the data of insured population taken from the

records of the agents, one out of 500

policyholders is taken out by simple random

sampling to ensure that all policyholders in the

population have an equal chance of being

selected. The secondary data is taken from

insurance journals, magazines, insurance

websites and books on insurance.

Introduction:

Policyholders pay for a future promise that is

redeemable at a later date. The intangibility of

the product is an added concern and people in

general still prefer to keep insurance as a last

priority. The low levels of awareness about

insurance and the regulating body tend to keep

them investing in government companies and

also in government brand companies. The

regula tory mechanisms re la t ing to

policyholder protection are confined to urban

environments and there is a need to address

rural policyholders in this aspect.

Limitations:

lThe results obtained are based on the

information provided by the customers and

agents of life insurance at the time of

survey.

issue focus

36

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ourn

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51.20% of Bangalore rural and 40.40% of Kolar rural customers felt

that the agents sold the policies by distorting facts of the policies.

Though there is a provision in the policy terms and conditions that the

policyholders can take full refund of the premiums within the cooling

period of fifteen days from the date of receipt of the policy bond

which is also called as free look cancellation, this is rarely done in

rural areas, thanks to low levels of insurance awareness. Most of the

people do not read the terms and conditions in full. Some normal

deceptive sales practices are as follows:

lCanvassing single premium policies and while presenting the

proposal, the mode of premium is mentioned as regular.

Policyholder will generally know the deceptive sale when he

receives renewal notice. Since the commission for single

premium is less (only 2%) when compared regular mode (ranging

15% to 35%), agents some times resort to this deceptive selling.

lCanvassing one product and taking signature of the customer for

another product.

lForging customer signature in benefit illustrations presented to the

companies.

lUnofficial benefit illustrations with rate of yields showing 18% to

24% which are normally not attainable.

lCanvassing high sum assured for low premiums to attract

customers, who in the process, would not know that more

mortality charges would be deducted for higher sum assureds.

lIn Bancassurance, the documents provided by the customers for

some purpose are mis-utilized for getting

new policies.

lPresenting a healthy customer before

medical examiner in place of the real

customer who has medical history of major

diseases to ensure issuing of policy.

b. Insurance Regulatory and Development

Authority (IRDA) was established by an act

of Parliament (IRDA Act, 1999) to protect

the interests of the policyholders and bring

about speedy and orderly growth of the

insurance industry in India. People can

look for justice if the insurance companies

violate the prescribed norms and rules or

commit f rauds or commit other

malpractices. A question is asked to all

respondents whether they think that their

investments in life insurance companies

shall be protected by the regulatory body,

i.e., IRDA. It revealed that 131 out of 250

respondents constituting 52.4% from

Bangalore rural district and 129 out of 250

respondents constituting 51.6% from Kolar

rural district do not believe in the efficacy

of IRDA in safe guarding their investments.

It can be referred from Table 2.

37

irda j

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It can be seen from the above table that

majority of the rural customers still doubt the

efficacy of regulating body. If this is the case

the rules framed for policyholder protection

are not taken with all seriousness in the rural

areas. They still look at only government

companies with respect before investing their

hard earned monies.

It can be assumed that customers in rural areas

still go by brand name before investing. An

analysis of the marketing problem from the

primary data indicate that the insurance

awareness levels are still low and customers by

and large go by brand image and tend to invest

in government companies. The role of IRDA is

still not well appreciated. In this back ground it

is doubtful whether regulatory protections

have their impact on the rural customers.

c. The regulatory protections:

The Insurance Regulatory and Development

Authority (IRDA) has been consistently taking

efforts and imposing regulatory obligations to

all insurers with a view to protect the interests

of the customers. Some of the important

measures are as follows:

lA mandatory pre recruitment training to

agents to professionalize the agency force.

lThe obligation of the agent to disclose his

commission structure.

lThe need of dispatching the photo copy of

the proposal to the customer along with the

policy bond.

lThe necessity of obtaining duly signed

benefit illustration before the issue of the

policy.

lCapping of expenses under ULIPs.

lThe disclosure norms with regard to

company profile, which, inter alia seek the

companies to disclose company financials,

shareholding pattern, the management

structure to the IRDA.

lThe disclosure norms with regard to

investment profile, the net asset values, the assets under

management etc.

lThe disclosure norms with regard to solvency margins and

solvency ratios.

lThe grievance redressal structure, the pending complaint details

and the efficacy of the company in closing the complaints to the

satisfaction of the customers.

lFive year lock in period for ULIPs.

d. Some suggestions for better customer protection:

The initiatives of the regulatory body are laudable from the

perspective of the policyholder. They have certainly minimized the

deceptive selling and helped in better yields to the customers. Still in

order to increase insurance awareness and for better protection

norms, the following points may be thought of.

lThe IRDA can unleash a publicity campaign in mass media such

as print media (news papers and magazines), broadcast media

(radio &TV), electronic media (audio& video tapes to be played in

village Panchayats) and display media (hoardings, sign boards

and posters). A sense of trust towards the regulatory body can be

instilled in the minds of the rural population.

lThe IRDA can insist the insurers to print in the policy bonds the

Grievance Redressal Mechanism available for grievances and the

role of the regulatory authority in the policy document in a

separate ink and font understandable in the local language.

lA disciplinary mechanism should be introduced in the system to

check wrong selling of policies and each company has to provide

the statistics related to free look cancellation of policies related to

deceptive selling and the action taken report thereon.

lThe IRDA can think of networking with the systems of insurance

companies and personally supervise the grey areas viz, free looks,

The initiatives of the regulatory body are laudable

from the perspective of the policyholder. They have

certainly minimized the deceptive selling and

helped in better yields to the customers.

Table 2 showing the responses of customers with regard to

efficacy of IRDA in protecting the investments.

Name of the Number of respondents Values in percentages.

District

IRDA can IRDA cannot Percentage of people Percentage of people

guarantee guarantee believing in the not believing in the

investments investments efficacy of IRDA in efficacy of IRDA in

taking care of their taking care of their

investments investments

Bangalore rural 119 131 47.6 52.4

Kolar rural 121 129 48.4 51.6

Total 240 260 48 52

Source: Primary data.

issue focus

36

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ourn

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010

51.20% of Bangalore rural and 40.40% of Kolar rural customers felt

that the agents sold the policies by distorting facts of the policies.

Though there is a provision in the policy terms and conditions that the

policyholders can take full refund of the premiums within the cooling

period of fifteen days from the date of receipt of the policy bond

which is also called as free look cancellation, this is rarely done in

rural areas, thanks to low levels of insurance awareness. Most of the

people do not read the terms and conditions in full. Some normal

deceptive sales practices are as follows:

lCanvassing single premium policies and while presenting the

proposal, the mode of premium is mentioned as regular.

Policyholder will generally know the deceptive sale when he

receives renewal notice. Since the commission for single

premium is less (only 2%) when compared regular mode (ranging

15% to 35%), agents some times resort to this deceptive selling.

lCanvassing one product and taking signature of the customer for

another product.

lForging customer signature in benefit illustrations presented to the

companies.

lUnofficial benefit illustrations with rate of yields showing 18% to

24% which are normally not attainable.

lCanvassing high sum assured for low premiums to attract

customers, who in the process, would not know that more

mortality charges would be deducted for higher sum assureds.

lIn Bancassurance, the documents provided by the customers for

some purpose are mis-utilized for getting

new policies.

lPresenting a healthy customer before

medical examiner in place of the real

customer who has medical history of major

diseases to ensure issuing of policy.

b. Insurance Regulatory and Development

Authority (IRDA) was established by an act

of Parliament (IRDA Act, 1999) to protect

the interests of the policyholders and bring

about speedy and orderly growth of the

insurance industry in India. People can

look for justice if the insurance companies

violate the prescribed norms and rules or

commit f rauds or commit other

malpractices. A question is asked to all

respondents whether they think that their

investments in life insurance companies

shall be protected by the regulatory body,

i.e., IRDA. It revealed that 131 out of 250

respondents constituting 52.4% from

Bangalore rural district and 129 out of 250

respondents constituting 51.6% from Kolar

rural district do not believe in the efficacy

of IRDA in safe guarding their investments.

It can be referred from Table 2.

37

irda j

ourn

al Ju

ly 2

010

It can be seen from the above table that

majority of the rural customers still doubt the

efficacy of regulating body. If this is the case

the rules framed for policyholder protection

are not taken with all seriousness in the rural

areas. They still look at only government

companies with respect before investing their

hard earned monies.

It can be assumed that customers in rural areas

still go by brand name before investing. An

analysis of the marketing problem from the

primary data indicate that the insurance

awareness levels are still low and customers by

and large go by brand image and tend to invest

in government companies. The role of IRDA is

still not well appreciated. In this back ground it

is doubtful whether regulatory protections

have their impact on the rural customers.

c. The regulatory protections:

The Insurance Regulatory and Development

Authority (IRDA) has been consistently taking

efforts and imposing regulatory obligations to

all insurers with a view to protect the interests

of the customers. Some of the important

measures are as follows:

lA mandatory pre recruitment training to

agents to professionalize the agency force.

lThe obligation of the agent to disclose his

commission structure.

lThe need of dispatching the photo copy of

the proposal to the customer along with the

policy bond.

lThe necessity of obtaining duly signed

benefit illustration before the issue of the

policy.

lCapping of expenses under ULIPs.

lThe disclosure norms with regard to

company profile, which, inter alia seek the

companies to disclose company financials,

shareholding pattern, the management

structure to the IRDA.

lThe disclosure norms with regard to

investment profile, the net asset values, the assets under

management etc.

lThe disclosure norms with regard to solvency margins and

solvency ratios.

lThe grievance redressal structure, the pending complaint details

and the efficacy of the company in closing the complaints to the

satisfaction of the customers.

lFive year lock in period for ULIPs.

d. Some suggestions for better customer protection:

The initiatives of the regulatory body are laudable from the

perspective of the policyholder. They have certainly minimized the

deceptive selling and helped in better yields to the customers. Still in

order to increase insurance awareness and for better protection

norms, the following points may be thought of.

lThe IRDA can unleash a publicity campaign in mass media such

as print media (news papers and magazines), broadcast media

(radio &TV), electronic media (audio& video tapes to be played in

village Panchayats) and display media (hoardings, sign boards

and posters). A sense of trust towards the regulatory body can be

instilled in the minds of the rural population.

lThe IRDA can insist the insurers to print in the policy bonds the

Grievance Redressal Mechanism available for grievances and the

role of the regulatory authority in the policy document in a

separate ink and font understandable in the local language.

lA disciplinary mechanism should be introduced in the system to

check wrong selling of policies and each company has to provide

the statistics related to free look cancellation of policies related to

deceptive selling and the action taken report thereon.

lThe IRDA can think of networking with the systems of insurance

companies and personally supervise the grey areas viz, free looks,

The initiatives of the regulatory body are laudable

from the perspective of the policyholder. They have

certainly minimized the deceptive selling and

helped in better yields to the customers.

Table 2 showing the responses of customers with regard to

efficacy of IRDA in protecting the investments.

Name of the Number of respondents Values in percentages.

District

IRDA can IRDA cannot Percentage of people Percentage of people

guarantee guarantee believing in the not believing in the

investments investments efficacy of IRDA in efficacy of IRDA in

taking care of their taking care of their

investments investments

Bangalore rural 119 131 47.6 52.4

Kolar rural 121 129 48.4 51.6

Total 240 260 48 52

Source: Primary data.

issue focus

38

irda j

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010

claims repudiations, customer complaints and certain other

things.

lIn order to educate the rural customers, a consortium of all

insurance companies may be encouraged and the object of the

consortium would be to educate the customers with pure

professionalism.

lEncourage the companies to print the policy bonds both in English

and the regional languages for better understanding by the

customers.

lThe training to agents may be re oriented in rural marketing, rural

product need analysis, the rural aspirations etc. The consortium of

life insurance companies can think of establishing a Rural

Insurance Academy on the lines of NIA, Pune exclusively for the

training needs of rural agents.

lAmbiguity in nomenclature, allocations, charges levied,

periodicity of charges etc are to be carefully monitored by IRDA;

and a note of the IRDA about the particular product be attached

to the policy document for more clarity for the benefit of the

customers.

Summary:

An analysis of primary and the secondary data indicate that there is

much to be done at the ground level. The insurance awareness in rural

areas is still low and the efficacy of IRDA in

guaranteeing the returns is yet to be

appreciated by the majority. The deceptive

selling is still practised and very little has been

done on this front. The regulations on

policyholder protection, though laudable, are

still urban-centric in the absence of low

insurance literacy. The IRDA needs to take pro-

active steps in insurance education and

monitor the grey areas of the insurance

companies with an eagle eye to ensure that the

regulations are not a myth but a reality.

K.Nagaraja Rao is Manager (Risk Control Unit), Bajaj

Allianz Life Insurance Company Ltd, Coimbatore;

and Dr Y.Raja Ram is Dean, Ramaiah Institute of

Management Sciences, Bangalore.

39

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issue focus

38

irda j

ourn

al Ju

ly 2

010

claims repudiations, customer complaints and certain other

things.

lIn order to educate the rural customers, a consortium of all

insurance companies may be encouraged and the object of the

consortium would be to educate the customers with pure

professionalism.

lEncourage the companies to print the policy bonds both in English

and the regional languages for better understanding by the

customers.

lThe training to agents may be re oriented in rural marketing, rural

product need analysis, the rural aspirations etc. The consortium of

life insurance companies can think of establishing a Rural

Insurance Academy on the lines of NIA, Pune exclusively for the

training needs of rural agents.

lAmbiguity in nomenclature, allocations, charges levied,

periodicity of charges etc are to be carefully monitored by IRDA;

and a note of the IRDA about the particular product be attached

to the policy document for more clarity for the benefit of the

customers.

Summary:

An analysis of primary and the secondary data indicate that there is

much to be done at the ground level. The insurance awareness in rural

areas is still low and the efficacy of IRDA in

guaranteeing the returns is yet to be

appreciated by the majority. The deceptive

selling is still practised and very little has been

done on this front. The regulations on

policyholder protection, though laudable, are

still urban-centric in the absence of low

insurance literacy. The IRDA needs to take pro-

active steps in insurance education and

monitor the grey areas of the insurance

companies with an eagle eye to ensure that the

regulations are not a myth but a reality.

K.Nagaraja Rao is Manager (Risk Control Unit), Bajaj

Allianz Life Insurance Company Ltd, Coimbatore;

and Dr Y.Raja Ram is Dean, Ramaiah Institute of

Management Sciences, Bangalore.

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¬̋∑§Ê‡Ê∑ ∑§Ê§‚¥Œ‡Ê

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“~r_mYmaH$ H$s gwajm” OZ©b Ho$ Bg A§H$ H$m Ho$ÝÐ {~ÝXw h¡Ÿ& Xmdm à~§YZ H$m {df` Omo{H$ Hw$N> g_` nhbo Ho$ A§H$ _| H$opÝÐV Wm, Cggo Ow‹S>o Hw$N> _wÔo AnyU© ah JE Wo Omo{H$ h_ àH$m{eV H$aZm MmhVo h¢Ÿ& VXZwgma, OZ©b H$m AJbm A§H$ Xmdm à~ÝYZ na Ho$pÝÐV hmoJmŸ&

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ŒÎÁc≈U ∑§Ùá Ê

H$m`© àUm{b`m| d àH«$_m| {H$ {dµ\$bVm à^mdembr ê$n go hmb hr _| hþE {dÎmr` g§H$Q>H$mb _| XoIZo H$mo {_brŸ& à^mdembr Omo{I_ à~ÝYZ Ho$ H$m`m©Ýd`Z _| MyH$ ~moS>© d CÀM à~ÝYZ H$s {dµ\$bVm go Hw$N> {dÎmr` g§ñWmZm| H$mo J§^ra n[aUm_ ^wJVZo nS> gH$Vo h¢Ÿ&

lr EpÝS´>`y ˜mogh-à~ÝYH$ {ZXoeH$, _moZoQ>ar Am°Wm[aQ>r Am°\$ qgJmnwa

h_ AÝV: {dYmZ H$mo Bg àH$ma gånm{XV H$aZm MmhVo h¢ Omo{H$ dmñV{dH$ KQ>ZmAm| go COmJa hþB© {ddmXmñnX KQ>ZmAm|, H${_`m| `m H$_Omo[a`m| H$mo gå~mo{YV H$a|; VWm {dÎmr` H$m`© àUmbr Ho$ ñdñW d H$m`©erb VËdm| Ho$ AZmdí`H$ `m AZwËnmXH$ ~Xbmdm| go ~Mmd H$a|Ÿ&

gwlr OoZ Eb ŠbmBZEZEABgr AÜ`jm d X{jUr dOu{Z`m ~r_m H${_eZa

h_| ̀ h kmV hþAm h¡ {H$ ̂ m¡Jmo{bH$ Am{W©H$ AdojU na A{ZpíMVVmAm| Ho$ ~mXb gXm _§S>amVo ahVo h¢, VWm ^m¡Jmo{bH$ {dÎmr` ~mµOma gXm níMmËdVu AYmVm| Ho$ à{V A{V g§doXZerb ahVm h¡Ÿ&

lr OmoZ Eµ\$ b¡H$aAÜ`j, Am°ñQ´>o{b`Z àwS>opÝe`b aoJwboeZ Am°Wm[aQ>r

`Ú{n, ̂ m¡Jmo{bH$ hmbmV A~ gwYa MwHo$ h¢, hmb hr _| hþE ̀ wamo{n` {dH$mg Zo {µ\$a go {dÎmr` ~mµOmam| H$mo Aem§V H$a {X`m h¡ O¡gm {H$ ̀ wamo joÌ Ho$ H$B© Xoem| _| aOñd g§~§Yr {ZaÝVaVm na H$B© gdmb IS>o hmo JE h¢Ÿ&µ

lr {b_ h§J {H$`m§Jdm{UÁ` d CÚmoJ _§Ìr, qgJmnwa gaH$ma

bå~o g_` go Mbo Am aho {dÎmr` gÝñWmZm| H$m nbQ>md d {Za§Va gVVm à^mdembr ~moS>© H$m àVrH$ h¡ Omo XyaX{e©Vm, Hy${Q²>Z{VH$ _mJ©Xe©Z, VWm _O~yV g§MmbZ d Omo{I_ à~§YZ g§ñH¥${V H$mo g§JR>Z _| AV{Z©{dîQ> H$aVm h¡Ÿ&

lr XmVmo _whå_X {~Z B~«m{h_Cn-JdZ©a, ~¢H$ ZoJmam, _bo{e`m

`h (`w{bn na AÜ`mXoe) ~r_m H$ån{Z`m| Ho$ {bE EH$ gH$ amË_H$ {dH$mg h¡ VWm ̀ h nm°{bgrYmaH$m| _| ̀ w{bn Ho$ à{V AmË_{dœmg H$mo àmoËgmhZ XoJmŸ&

lr Oo. h[a Zmam`UAÜ`j, ~r_m {d{Z`m_H$ Am¡a {dH$mg àm{YH$aU

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S>m°. gw~moY Hw$_ma Ed§ hare M§Ð aVy‹Sr Ho$ emoYmZwgma ~r_m J«mhH$ d ~r_m H$Vm© XmoZm| njm| na na_ gX²>^md H$m {Z`_ bmJy hmoVm h¡, ̀ Wm CZH$m H$V©ì` h¡ {H$ g§{dXm V` H$aVo g_` g_ñV _hËdnyU© VÏ`m| H$mo nyU©ê$noU àH$Q> H$a|Ÿ&

thou chek esa xzkgd fgr j{kk- miHkksDrk jkT; vk;ksx fu.khZr ekeyksa ds vkyksd esa

chek ds {ks= esa u;s m|fe;ksa ds vkus ds ckn] nks iz'u cgqr egRo ds gSa& igyk] lkoZtfud {ks= ds miØe viuh l'kDr fLFkfr dks fdl izdkj v{kq..k j[ksa( nwljs] u;s cheknkrkvksa ds O;olk; esa miHkksDrk fgr lajf{kr jgsA xzkgd fgr iks"k.k ds fy, lHkh chekdrkZvksa ij fuxjkuh dh t:jr gSA cSafdax m|ksx esa bl fn'kk esa ,d igy dh xbZ ftlesa ^cksMZ vkWQ dksM ,.M LVSUMMZ~l bu cSafdax vkWQ bf.M;k* dh LFkkiuk dh x;hA cksMZ us O;fDrxr xzkgdksa ds fy, dksM vkSj LVSUMZM~l cukdj tqykbZ 2006 esa izpkfjr dj fn;s gSaA ,slk gh iz;kl chek m|ksx esa ok¡fNr gS] rkfd lHkh cheknkrk ,d:i dksM vkSj ekudksa ds nk;js esa vk tk;saA miHkksDrk fgr lEo/kZu dh n`f"V ls ,sls mik; 'kh?kz gh fd;s tkus visf{kr gSaA xzkgd lEcU/k izcU/ku fo"k; nksuksa i{kdkjksa ds fy;s leku :i ls fgrdkjh gSA ,d rjQ] O;kikj lEo/kZu dk dkjxj mik; gS] nwljh vksj xzkgd fgr laj{k.k ds fy, ltx izgjh gSA miHkksDrk fgr laj{k.k dh n`f"V ls lsok xq.koRrk lEcU/kh v/;;u mi;ksxh gksrs gSaA xzkgd lUrks"k dk ijh{k.k iwjs O;olk; ds fy, iks"k.k dk dk;Z djrk gSA cnyrs O;olkf;d i;kZoj.k esa xzkgd lEcU/k vf/kd izklafxd gq;s gSaaA bl n`f"V ls xzkgd lEcU/kksa dh tk¡p fdlh Hkh O;olk; ds fy, vkSj mlds miHkksDrk ds fy, leku :i ls fgrdkjh gksxhA

jkT; vk;ksx esa thou chek esa fu.khZr miHkksDrk ekeyslvk;q dk izek.ku ¼vYio;½ lEcU/kh lvk;q dk izek.ku ¼vf/ko;½ lEcU/kh lfufoZokfnrk [k.M lEcU/kh

lnq?kZVuk fgrykHk lEcU/khl̂iw.kZ izdVu fu;e* lEcU/kh

vk;q izek.ku ¼vYio; lEcU/kh½iHkksDRkk laj{k.k vf/kfu;e] 1986] /kkjk 2 ¼1½ lh ds vUrxZr ifjokn ntZ gqvk fd chek lafonk fof/k ekU; ugha gS D;ksafd chfer }kjk izLrko i= esa viuh vk;q ds ckjs esa xyr lwpuk nh x;hA ikWfylh ysus ds le; chfer us vV~Bkjg o"kZ dh vk;q izkIr ugha dh FkhA chek/kkjd chek lafonk esa 'kkfey gksus ds fy, oS/kkfud :Ik ls gdnkj ugha Fkk] bl vk/kkj ij nkok fujkd`r fd;k x;kA ftyk Qksje us nkosnkj ds i{k

esa fu.kZ; fn;kA jkT; vk;ksx }kjk vkns'k fn;k x;k fd dsoy cheknkj}kjk fn;k x;k izhfe;e ifjoknh dks Hkqxrku fd;k tk;sA Hkkjrh; thou chek fuxe dh vksj ls jkT; vk;ksx esa vihy nk;j dh x;h tks fd ftyk miHkksDrk Qksje gfj}kj ds fu.kZ; ds fo:) FkhA Hkkjrh; thou chek fuxe cuke Jh jkedqekj ¼2007] ;w,Mh 152½

ekeys esa lat; dqekj dk nl gtkj :Ik;s dk chek fd;k x;kA mlus N% lkS fN;kuCcs :Ik;s izhfe;e dk Hkqxrku dj fn;kA pkj ekg ckn lk¡i ds dkVus ds dkj.k lat; dqekj dh e`R;q gks x;hA e`rd ds HkkbZ jkedqekj us chek nkok izLrqr fd;k] ftls chek dEiuh us bl vk/kkj ij fujLr dj fn;k fd cheknkj us viuh vk;q ds ckjs esa vlR; o.kZu fd;k vkSj og chek lafonk djrs le; vV~Bkjg o"kZ ls de vk;q dk FkkA cheknkrk us nkosnkj dks lwfpr fd;k fd bl ekeys esa cheknkj

J«mhH$ {hV

xzkgd lEcU/k izcU/ku fo"k; nksuksa i{kdkjksa ds fy;s leku :i ls fgrdkjh gSA ,d rjQ] O;kikj lEo/kZu dk dkjxj mik; gS] nwljh vksj xzkgd fgr laj{k.k ds fy, ltx izgjh gSA

ŒÎÁc≈U ∑§Ùá Ê

H$m`© àUm{b`m| d àH«$_m| {H$ {dµ\$bVm à^mdembr ê$n go hmb hr _| hþE {dÎmr` g§H$Q>H$mb _| XoIZo H$mo {_brŸ& à^mdembr Omo{I_ à~ÝYZ Ho$ H$m`m©Ýd`Z _| MyH$ ~moS>© d CÀM à~ÝYZ H$s {dµ\$bVm go Hw$N> {dÎmr` g§ñWmZm| H$mo J§^ra n[aUm_ ^wJVZo nS> gH$Vo h¢Ÿ&

lr EpÝS´>`y ˜mogh-à~ÝYH$ {ZXoeH$, _moZoQ>ar Am°Wm[aQ>r Am°\$ qgJmnwa

h_ AÝV: {dYmZ H$mo Bg àH$ma gånm{XV H$aZm MmhVo h¢ Omo{H$ dmñV{dH$ KQ>ZmAm| go COmJa hþB© {ddmXmñnX KQ>ZmAm|, H${_`m| `m H$_Omo[a`m| H$mo gå~mo{YV H$a|; VWm {dÎmr` H$m`© àUmbr Ho$ ñdñW d H$m`©erb VËdm| Ho$ AZmdí`H$ `m AZwËnmXH$ ~Xbmdm| go ~Mmd H$a|Ÿ&

gwlr OoZ Eb ŠbmBZEZEABgr AÜ`jm d X{jUr dOu{Z`m ~r_m H${_eZa

h_| ̀ h kmV hþAm h¡ {H$ ̂ m¡Jmo{bH$ Am{W©H$ AdojU na A{ZpíMVVmAm| Ho$ ~mXb gXm _§S>amVo ahVo h¢, VWm ^m¡Jmo{bH$ {dÎmr` ~mµOma gXm níMmËdVu AYmVm| Ho$ à{V A{V g§doXZerb ahVm h¡Ÿ&

lr OmoZ Eµ\$ b¡H$aAÜ`j, Am°ñQ´>o{b`Z àwS>opÝe`b aoJwboeZ Am°Wm[aQ>r

`Ú{n, ̂ m¡Jmo{bH$ hmbmV A~ gwYa MwHo$ h¢, hmb hr _| hþE ̀ wamo{n` {dH$mg Zo {µ\$a go {dÎmr` ~mµOmam| H$mo Aem§V H$a {X`m h¡ O¡gm {H$ ̀ wamo joÌ Ho$ H$B© Xoem| _| aOñd g§~§Yr {ZaÝVaVm na H$B© gdmb IS>o hmo JE h¢Ÿ&µ

lr {b_ h§J {H$`m§Jdm{UÁ` d CÚmoJ _§Ìr, qgJmnwa gaH$ma

bå~o g_` go Mbo Am aho {dÎmr` gÝñWmZm| H$m nbQ>md d {Za§Va gVVm à^mdembr ~moS>© H$m àVrH$ h¡ Omo XyaX{e©Vm, Hy${Q²>Z{VH$ _mJ©Xe©Z, VWm _O~yV g§MmbZ d Omo{I_ à~§YZ g§ñH¥${V H$mo g§JR>Z _| AV{Z©{dîQ> H$aVm h¡Ÿ&

lr XmVmo _whå_X {~Z B~«m{h_Cn-JdZ©a, ~¢H$ ZoJmam, _bo{e`m

`h (`w{bn na AÜ`mXoe) ~r_m H$ån{Z`m| Ho$ {bE EH$ gH$ amË_H$ {dH$mg h¡ VWm ̀ h nm°{bgrYmaH$m| _| ̀ w{bn Ho$ à{V AmË_{dœmg H$mo àmoËgmhZ XoJmŸ&

lr Oo. h[a Zmam`UAÜ`j, ~r_m {d{Z`m_H$ Am¡a {dH$mg àm{YH$aU

m

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S>m°. gw~moY Hw$_ma Ed§ hare M§Ð aVy‹Sr Ho$ emoYmZwgma ~r_m J«mhH$ d ~r_m H$Vm© XmoZm| njm| na na_ gX²>^md H$m {Z`_ bmJy hmoVm h¡, ̀ Wm CZH$m H$V©ì` h¡ {H$ g§{dXm V` H$aVo g_` g_ñV _hËdnyU© VÏ`m| H$mo nyU©ê$noU àH$Q> H$a|Ÿ&

thou chek esa xzkgd fgr j{kk- miHkksDrk jkT; vk;ksx fu.khZr ekeyksa ds vkyksd esa

chek ds {ks= esa u;s m|fe;ksa ds vkus ds ckn] nks iz'u cgqr egRo ds gSa& igyk] lkoZtfud {ks= ds miØe viuh l'kDr fLFkfr dks fdl izdkj v{kq..k j[ksa( nwljs] u;s cheknkrkvksa ds O;olk; esa miHkksDrk fgr lajf{kr jgsA xzkgd fgr iks"k.k ds fy, lHkh chekdrkZvksa ij fuxjkuh dh t:jr gSA cSafdax m|ksx esa bl fn'kk esa ,d igy dh xbZ ftlesa ^cksMZ vkWQ dksM ,.M LVSUMMZ~l bu cSafdax vkWQ bf.M;k* dh LFkkiuk dh x;hA cksMZ us O;fDrxr xzkgdksa ds fy, dksM vkSj LVSUMZM~l cukdj tqykbZ 2006 esa izpkfjr dj fn;s gSaA ,slk gh iz;kl chek m|ksx esa ok¡fNr gS] rkfd lHkh cheknkrk ,d:i dksM vkSj ekudksa ds nk;js esa vk tk;saA miHkksDrk fgr lEo/kZu dh n`f"V ls ,sls mik; 'kh?kz gh fd;s tkus visf{kr gSaA xzkgd lEcU/k izcU/ku fo"k; nksuksa i{kdkjksa ds fy;s leku :i ls fgrdkjh gSA ,d rjQ] O;kikj lEo/kZu dk dkjxj mik; gS] nwljh vksj xzkgd fgr laj{k.k ds fy, ltx izgjh gSA miHkksDrk fgr laj{k.k dh n`f"V ls lsok xq.koRrk lEcU/kh v/;;u mi;ksxh gksrs gSaA xzkgd lUrks"k dk ijh{k.k iwjs O;olk; ds fy, iks"k.k dk dk;Z djrk gSA cnyrs O;olkf;d i;kZoj.k esa xzkgd lEcU/k vf/kd izklafxd gq;s gSaaA bl n`f"V ls xzkgd lEcU/kksa dh tk¡p fdlh Hkh O;olk; ds fy, vkSj mlds miHkksDrk ds fy, leku :i ls fgrdkjh gksxhA

jkT; vk;ksx esa thou chek esa fu.khZr miHkksDrk ekeyslvk;q dk izek.ku ¼vYio;½ lEcU/kh lvk;q dk izek.ku ¼vf/ko;½ lEcU/kh lfufoZokfnrk [k.M lEcU/kh

lnq?kZVuk fgrykHk lEcU/khl̂iw.kZ izdVu fu;e* lEcU/kh

vk;q izek.ku ¼vYio; lEcU/kh½iHkksDRkk laj{k.k vf/kfu;e] 1986] /kkjk 2 ¼1½ lh ds vUrxZr ifjokn ntZ gqvk fd chek lafonk fof/k ekU; ugha gS D;ksafd chfer }kjk izLrko i= esa viuh vk;q ds ckjs esa xyr lwpuk nh x;hA ikWfylh ysus ds le; chfer us vV~Bkjg o"kZ dh vk;q izkIr ugha dh FkhA chek/kkjd chek lafonk esa 'kkfey gksus ds fy, oS/kkfud :Ik ls gdnkj ugha Fkk] bl vk/kkj ij nkok fujkd`r fd;k x;kA ftyk Qksje us nkosnkj ds i{k

esa fu.kZ; fn;kA jkT; vk;ksx }kjk vkns'k fn;k x;k fd dsoy cheknkj}kjk fn;k x;k izhfe;e ifjoknh dks Hkqxrku fd;k tk;sA Hkkjrh; thou chek fuxe dh vksj ls jkT; vk;ksx esa vihy nk;j dh x;h tks fd ftyk miHkksDrk Qksje gfj}kj ds fu.kZ; ds fo:) FkhA Hkkjrh; thou chek fuxe cuke Jh jkedqekj ¼2007] ;w,Mh 152½

ekeys esa lat; dqekj dk nl gtkj :Ik;s dk chek fd;k x;kA mlus N% lkS fN;kuCcs :Ik;s izhfe;e dk Hkqxrku dj fn;kA pkj ekg ckn lk¡i ds dkVus ds dkj.k lat; dqekj dh e`R;q gks x;hA e`rd ds HkkbZ jkedqekj us chek nkok izLrqr fd;k] ftls chek dEiuh us bl vk/kkj ij fujLr dj fn;k fd cheknkj us viuh vk;q ds ckjs esa vlR; o.kZu fd;k vkSj og chek lafonk djrs le; vV~Bkjg o"kZ ls de vk;q dk FkkA cheknkrk us nkosnkj dks lwfpr fd;k fd bl ekeys esa cheknkj

J«mhH$ {hV

xzkgd lEcU/k izcU/ku fo"k; nksuksa i{kdkjksa ds fy;s leku :i ls fgrdkjh gSA ,d rjQ] O;kikj lEo/kZu dk dkjxj mik; gS] nwljh vksj xzkgd fgr laj{k.k ds fy, ltx izgjh gSA

43

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chfer ds nRrd iq= vkSj ukekafdrh us nkok izLrqr fd;kA Hkkjrh; thou chek fuxe us nkosnkj ds nRrd iq= gksus dk izek.k i= ek¡xk tks fd nkosnkj ds ikl ugha FkkA Qksje us nRrd iq= gksus lEcU/kh rF; dks bl izlax esa fujFkZd ekuk vkSj fu.kZ; fn;k fd nkosnkj dk ukekafdrh gksuk i;kZIr gSA lkFk gh] ukekafdrh dksbZ Hkh O;fDr gks ldrk gSA nkok fujkd`r djrs le; cheknkrk dh nwljh vkifRr Fkh fd chfer us izLrko ds le; izLrko i= esa viuh vk;q 64 o"kZ fy[kh tcfd mldh vk;q 73 o"kZ Fkh vkSj bl vk;q esa mldk chek ugha gks ldrk FkkA fuxe us Qwy flag dh vk;q ds izek.ku ds fy, oksVj fyLV izLrqr dhA nkosnkj us chfer ds vk;q izek.ku ds fy, iapk;r }kjk fuxZr ifjokj jftLVj dh izfof"V izLrqr dhA cheknkrk }kjk Jh fot;iky flag dks vk;q ds fo"k; esa xokg cuk;k x;kA Qksje us vk;q izek.ku ds fy, oksVj fyLV dks Lohdkj ugha fd;kA iapk;r }kjk fuxZr ifjokj jftLVj dh izfof"V dks vk;q dk i;kZIr lcwr ekuk x;kA lEifRr lEcU/kh eqdneksa ds dkj.k xokg] fot; iky flag dh nkosnkj ls nq'euh FkhA blfy, fot;iky flag dh xokgh Lohdkj ugha dh x;hA

jkT; vk;skx esa ekeys dh lquokbZ gqbZ vkSj lk{;ksa dk ijh{k.k gqvkA jkT; vk;ksx us Qksje ds fu.kZ; dks nqjLr ik;k vkSj fuxe dh vihy dks [kkfjt dj fn;kA vk;q izek.ku ds fy, iapk;r ds ifjokj jftLVj dks mi;qDr ekuk] oksVj fyLV dks vk;q izek.ku ds fy, mi;qDr ugha ekukA

foe'kZ chek lafonk esa ije ln~Hkko dk fl)kUr ykxw gksrk gS] ftldk izHkko ;g gksrk gS fd vxj dksbZ i{kdkj lafonk ls lEcfU/kr egRoiw.kZ rF; dks ugha crkrk gS] xyr crkrk gS] vFkok fNikrk gS] rc lafonk O;FkZ gks tkrh gSA bl fu;e ds vk/kkj ij chek dEiuh dk ;g vf/kdkj lnSo lqjf{kr jgrk gS fd vxj cheknkj us izLrko i= esa dksbZ feF;k o.kZu fd;k gS] rc chek dEiuh vius nkf;Ro ls eqDr gks tkrh gS vkSj tek izhfe;e dh jkf'k Hkh tCr dj ysrh gSA ije ln~Hkko ds fl)kUr ds dkj.k thou chek esa ,slh fLFkfr vk tkrh gS fd cheknkj yEcs le; rd izhfe;e dk Hkqxrku djrk jgrk gS vkSj nkos ds le; fookn mRiUu gks tkrk gSA thou chek esa fooknksa ij n`f"V Mkyus ls ,d ladsr feyrk gS fd vxj thou

chek djrs le; ,tsaV FkksM+h lko/kkuh cjrs] rc chek lsok esa fooknksa dh la[;k esa mYys[kuh; deh gks ldrh gSA thou chek esa vk;q vkSj LokLF; nks egRoiw.kZ rF; gSaA chek ,tsaV ds izeq[k drZO;kas esa lfEefyr gS fd og ;g ns[ks fd chek izLrko fu/kkZfjr vk;q dh vof/k lhek esa fd;k x;k gksA ;gk¡] ;g lq>ko fn;k tk ldrk gS fd vk;q ds izek.ku ds lEcU/k esa cheknkrk dk ;g vf/kdkj lhfer gksuk pkfg, fd og tUefrfFk izek.kd dks dc rd pqukSrh ns ldrk gSA chek vf/kfu;e

dh /kkjk 45 ds vUrxZr fufoZokfnrk [k.M esa lfEefyr fd;k tkuk pkfg, fd chek dEiuh ,d le; vof/k ds ckn tUefrfFk izek.kd dks pqukSrh ugha ns ldsxhA izdj.k esa izLrkod dh vk;q 63 o"kZ gSA fookn esa mldh vk;q 73 o"kZ gksuk crk;k x;kA vk;q esa ukS o"kZ ds vUrj dks] laHkor% ,tsaV }kjk vklkuh ls idM+k tk ldrk FkkA thou chek O;olk; esa ;g mYys[kuh; gS fd ,tsaV vius fj'rsnkjksa ds e/; chek mRiknksa dk foi.ku djrs gSaA ,slh fLFkfr esa vius fudV lEcU/kh ds izfr mudh vfrfjDr mnkjrk chek lafonk esa fookn ds tUe dks izsfjr dj ldrh gSA 'kk[kk dk;kZy; esa izLrko i= ds fujh{k.k ds lEcU/k esa Li"V fu;e gS fd ogk¡ tUefrfFk dh tk¡p dh tkrh gSA 19 o"kZ ls de rFkk 50 o"kZ ls vf/kd vk;q ds izLrkoksa dh vk;q ds lEcU/k esa izLrqr izek.k i=ksa dh fo'ks"k lko/kkuh ls tk¡p dh tkrh gSA bl izdkj izLrko ds le; chek vfHkdrkZ dh FkksM+h lko/kkuh vkSj chek dEiuh dh FkksM+h ltxrk chek lsok esa gksus okys fooknksa dh la[;k de djus esa cgqr lgk;d gks ldrh gSA

fufoZokfnrk [k.M lEcU/khmiHkksDrk laj{k.k vf/kfu;e] 1986] /kkjk 2¼th½] ¼0½ ds vUrxZr lsok esa U;wurk ds fy,] Hkkjrh; thou chek fuxe }kjk chek nkok fujkd``r fd;s tkus vkSj Qksje ls jkgr u feyus ij] Qksje ds fu.kZ; ds fo:) vihy dh x;hA fuxe us cheknkj }kjk lafonk ls lEcfU/kr egRoiw.kZ rF;ksa dks tku&cw>dj fNikus ds dkj.k nkok [kkfjt fd;kA lk{;ksa ds vk/kkj ij Qksje us fuxe }kjk nkok fujkd`r fd;k tkuk mfpr Bgjk;k vkSj lsok esa U;wurk ugha ekuh xbZA jkT; vk;ksx us Hkh Qksje ds fu.kZ; dk leFkZu fd;k vkSj nkosnkj dh vihy [kkfjt dj nhA

chek vf/kfu;e] 1938] /kkjk 45 ds vuqlkj tc vfHkys[k ls iw.kZr% fl) gks tk;s fd chek djkrs le; /kks[ks ls chekfj;ksa ds rF;ksa dks tku&cw>dj fNik;k x;k] rc nks lky dh vof/k chr tkus ds Ik'pkr~ Hkh ikWfylh dks pqukSrh nh tk ldrh gSA Jherh yfyrk peksyh cuke Hkkjrh; thou chek fuxe ¼2006 ;w,Mh 854½

f'kdk;rdrkZ us miHkksDrk laj{k.k vf/kfu;e 1986 dh /kkjk 15 ds vUrxZr ftyk miHkksDrk Qksje ds fu.kZ; ds fo:) vihy dh ftlesa nkosnkj dks chek jkf'k dk Hkqxrku djkus dh izkFkZuk vLohdkj dj nh

thou chek lafonk vfuok;Z :Ik ls fyf[kr gksrh gS] ftldk vk/kkj izLrko i= gksrk gSA

J«mhH$ {hV

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}kjk tek dh x;h izhfe;e dh jkf'k ykSVk nh tk,xhA

nkosnkj us ftyk miHkksDrk Qksje esa cheknkrk ds fu.kZ; ds fo:) f'kdk;r ntZ djds lEiw.kZ chek jkf'k dk Hkqxrku djk;s tkus dh ek¡x dhA ftyk Qksje esa ekeys dh lquokbZ gqbZ fuxe dh vksj ls fnoaxr cheknkj dh tUe frfFk dk izek.k i= izLrqr fd;k x;k tks fd cheknkj ds Ldwy ds iz/kkukpk;Z dh vksj ls fuxZr FkkA tUefrfFk izek.k i= esa iz/kkukpk;Z ds gLrk{kj ds uhps vafdr frfFk esa ,d vad esa vksoj jkbfVax FkhA chek dEiuh dh vksj ls izLrqr vfHkys[k esa iz/kkukpk;Z ds 'kiFk i= dk vHkko FkkA bl izdkj cheknkrk }kjk nkok [kkfjt fd;k tkuk] lsok esa U;wurk ekuh x;h vkSj cheknkrk dks vkns'k fn;k x;k fd chek jkf'k 10]000 :i;s nq?kZVuk fgrykHk vkSj cksul dk Hkqxrku nkosnkj dks fd;k tk,A lkFk gh 2000 :Ik;s {kfriwfrZ o 1000 :Ik;s okn O;; ds :Ik esa ,d ekg ds vanj Hkqxrku djuk lqfuf'pr fd;k tk;sA

vk/kkj ij chek i= ds lEcU/k esa dksbZ okn ugha dj ldrkA fdUrq] diV }kjk rF;ksa dks fNikus ij cheki= dHkh Hkh O;FkZ fd;k tk ldrk gSA ;g fu;e vfuok;Z :Ik ls izLrkod dks crk;k tkuk pkfg,A bl lUnHkZ esa] chek vfHkdrkZ dh Hkwfedk cgqr izklafxd gks tkrh gSA oLrqr%] vfHkdrkZ dk nkf;Ro gS fd lafonk lEcU/kh egRoiw.kZ izko/kkuksa dks izLrkod ds lEeq[k HkyhHkk¡fr Li"V dj ns] vU;Fkk ;g chek lsok esa U;wurk dk ekeyk cu ldrk gSA

vk;q izek.ku ¼vf/ko;½ lEcU/khmiHkksDrk laj{k.k vf/kfu;e] 1986] /kkjk 15 ds vUrxZr vihy dh x;h tks fd ftyk miHkksDrk Qksje gfj}kj ds ml fu.kZ; ds fo:) Fkh ftlesa f'kdk;rdrkZ dk cheknkok Lohdkj fd;s tkus dk vkns'k FkkA nkosnkj] fnoaxr chfer dk nRrd iq= vkSj ikWfylh dk ukekafdrh gSA chek dEiuh us nÙkd iq= gksus ds izek.kd dh ek¡x dh] ftls nkosnkj izLrqr ugha dj ldk] fdUrq Qksje us ukekafdrh gksuk i;kZIr ekukA ukekafdrh dksbZ Hkh O;fDr gks ldrk gSA cheknkrk dh vksj ls nwljh vkifRr Fkh fd chek izLrko ds le; izLrkod dh vk;q 73 o"kZ Fkh tcfd chek izLrko i= esa 64 o"kZ fy[kdj feF;ko.kZu fd;k x;k vkSj 73 o"kZ dh vk;q esa izLrkod dk chek ugha gks ldrk FkkA vr% Hkkjrh; thou chek fuxe us nkok fujkd`r dj fn;kA vk;q izek.ku ds fy, oksVj fyLV lk{; ds :i esa izLrqr dh x;h vkSj Jh fot;iky flag dks xokg ds :i esa izLrqr fd;k x;kA Qksje us oksVj fyLV dks vk;q izek.kd ds :i esa Lohdkj ugha fd;k cfYd nkosnkj }kjk izLrqr ifjokj jftLVj dh izfof"V dks ekU;rk iznku dhA nkosnkj vkSj fot;iky flag ds e/; lEifRr lEcU/kh dbZ fookn U;k;ky; esa py jgs FksA vr% fot;iky flag dk fo}s"k Hkkouk ls izsfjr gksuk LokHkkfod Fkk vkSj mudh xokgh vLohdkj dj nh x;hA Qksje us fuxe dks nkok Lohdkj djus dk vkns'k fn;kA jkT; vk;ksx us Qksje ds fu.kZ; esa dksbZ gLr{ksi ugha fd;k vkSj fuxe dh vihy dks [kkfjt dj fn;kA Hkkjrh; thou chek fuxe cuke Jh jktsUnz flag ¼2005 ;w,Mh 173½

vihy esa ftyk miHkksDrk Qksje gfj}kj ds fu.kZ; dks pqukSrh nh xbZ ftlesa nkosnkj dh f'kdk;r dks Lohdkj djrs gq, Hkkjrh; thou chek fuxe dks nkos dk Hkqxrku djus dk vkns'k fn;k x;kA Jh Qwy flag us thou chek djk;k Fkk] ftudh ckn esa e`R;q gks x;hA f'kdk;rdrkZ]

cheknkrk us ftyk miHkksDRkk Qksje ds fu.kZ; ds fo:) jkT; vk;ksx esa vihy nk;j dhA ekeys dh lquokbZ gqbZA nkosnkj dh vksj ls vk;ksx esa dksbZ mifLFkr ugha gqvkA chek dEiuh }kjk izLrqr tUefrfFk izek.k i= dks mfpr ekurs gq, vkSj iz/kkukpk;Z ds 'kiFk i= dh vko';drk u ekurs gq, vihy Lohdkj dj yh xbZA ekeys esa chek nkos dks vLohdkj djuk lsok esa U;wurk ugha ekuk x;k vkSj cheknkrk dks vkns'k fn;k x;k fd dsoy tek izhfe;e dh jkf'k dk Hkqxrku nkosnkj dks dj fn;k tk,A

foe'kZthou chek lafonk vfuok;Z :Ik ls fyf[kr gksrh gS] ftldk vk/kkj izLrko i= gksrk gSA vkbZvkjMh, ¼xzkgd fgr j{kk½ fofu;e 2002 ds fu;e 4 ¼1½ esa mYys[k gS fd izLrko dh Lohd`fr ds 30 ds vanj cheknkrk }kjk izLrko i= dh izfrfyfi chfer dks fu%'kqYd miyC/k djkbZ tk,xhA ;g fu;e cheknkrk vkSj cheknkj nksuksa ds fgrksa dh j{kk djrk gS vkSj Hkfo"; esa chek lafonk esa lEHkkfor fooknksa dk U;wuhdj.k djrk gSA lkFk gh bl fu;e ls foØsrk o Øsrk ds e/; xzkgd lEcU/kksa esa ikjnf'kZrk dk iks"k.k lqfuf'pr gksrk gSA xzkgd lEcU/k izcU/ku ds Øe esa *VªhVhax dLVej Qsvjyh* vo/kkj.kk ds vUrxZr ikjnf'kZrk dks izeq[k vo;o ekuk x;k gSA thou chek esa vk;q dk izek.ku vfuok;Z gS] ftlds fy, ekud vkSj miekud izek.kdksa dh lwph gSA Ldwy }kjk fuxZr tUefrfFk izek.k i= dks ekud izek.kd ekuk x;k gSA thou chek lafonk ds ckjs esa xzkgd f'k{kk esa ;g vfuok;Z :Ik ls lfEefyr fd;k tkuk pkfg, fd xzkgd dks izLrko i= vkSj tUefrfFk izek.kd ds egRo vkSj nwjxkeh izHkko ls voxr djk fn;k tk,A chek vf/kfu;e 1938] /kkjk 45 ds vuqlkj chekdrkZ cheki= tkjh djus ds nks o"kZ ckn] vKkuo'k feF;ko.kZu vFkok egRoiw.kZ rF;ksa ds izdV u djus ds

vxj cheknkj us izLrko i= esa dksbZ feF;k o.kZu fd;k gS] rc chek dEiuh vius nkf;Ro ls eqDr gks tkrh gS vkSj tek izhfe;e dh jkf'k Hkh tCr dj ysrh gSA

43

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chfer ds nRrd iq= vkSj ukekafdrh us nkok izLrqr fd;kA Hkkjrh; thou chek fuxe us nkosnkj ds nRrd iq= gksus dk izek.k i= ek¡xk tks fd nkosnkj ds ikl ugha FkkA Qksje us nRrd iq= gksus lEcU/kh rF; dks bl izlax esa fujFkZd ekuk vkSj fu.kZ; fn;k fd nkosnkj dk ukekafdrh gksuk i;kZIr gSA lkFk gh] ukekafdrh dksbZ Hkh O;fDr gks ldrk gSA nkok fujkd`r djrs le; cheknkrk dh nwljh vkifRr Fkh fd chfer us izLrko ds le; izLrko i= esa viuh vk;q 64 o"kZ fy[kh tcfd mldh vk;q 73 o"kZ Fkh vkSj bl vk;q esa mldk chek ugha gks ldrk FkkA fuxe us Qwy flag dh vk;q ds izek.ku ds fy, oksVj fyLV izLrqr dhA nkosnkj us chfer ds vk;q izek.ku ds fy, iapk;r }kjk fuxZr ifjokj jftLVj dh izfof"V izLrqr dhA cheknkrk }kjk Jh fot;iky flag dks vk;q ds fo"k; esa xokg cuk;k x;kA Qksje us vk;q izek.ku ds fy, oksVj fyLV dks Lohdkj ugha fd;kA iapk;r }kjk fuxZr ifjokj jftLVj dh izfof"V dks vk;q dk i;kZIr lcwr ekuk x;kA lEifRr lEcU/kh eqdneksa ds dkj.k xokg] fot; iky flag dh nkosnkj ls nq'euh FkhA blfy, fot;iky flag dh xokgh Lohdkj ugha dh x;hA

jkT; vk;skx esa ekeys dh lquokbZ gqbZ vkSj lk{;ksa dk ijh{k.k gqvkA jkT; vk;ksx us Qksje ds fu.kZ; dks nqjLr ik;k vkSj fuxe dh vihy dks [kkfjt dj fn;kA vk;q izek.ku ds fy, iapk;r ds ifjokj jftLVj dks mi;qDr ekuk] oksVj fyLV dks vk;q izek.ku ds fy, mi;qDr ugha ekukA

foe'kZ chek lafonk esa ije ln~Hkko dk fl)kUr ykxw gksrk gS] ftldk izHkko ;g gksrk gS fd vxj dksbZ i{kdkj lafonk ls lEcfU/kr egRoiw.kZ rF; dks ugha crkrk gS] xyr crkrk gS] vFkok fNikrk gS] rc lafonk O;FkZ gks tkrh gSA bl fu;e ds vk/kkj ij chek dEiuh dk ;g vf/kdkj lnSo lqjf{kr jgrk gS fd vxj cheknkj us izLrko i= esa dksbZ feF;k o.kZu fd;k gS] rc chek dEiuh vius nkf;Ro ls eqDr gks tkrh gS vkSj tek izhfe;e dh jkf'k Hkh tCr dj ysrh gSA ije ln~Hkko ds fl)kUr ds dkj.k thou chek esa ,slh fLFkfr vk tkrh gS fd cheknkj yEcs le; rd izhfe;e dk Hkqxrku djrk jgrk gS vkSj nkos ds le; fookn mRiUu gks tkrk gSA thou chek esa fooknksa ij n`f"V Mkyus ls ,d ladsr feyrk gS fd vxj thou

chek djrs le; ,tsaV FkksM+h lko/kkuh cjrs] rc chek lsok esa fooknksa dh la[;k esa mYys[kuh; deh gks ldrh gSA thou chek esa vk;q vkSj LokLF; nks egRoiw.kZ rF; gSaA chek ,tsaV ds izeq[k drZO;kas esa lfEefyr gS fd og ;g ns[ks fd chek izLrko fu/kkZfjr vk;q dh vof/k lhek esa fd;k x;k gksA ;gk¡] ;g lq>ko fn;k tk ldrk gS fd vk;q ds izek.ku ds lEcU/k esa cheknkrk dk ;g vf/kdkj lhfer gksuk pkfg, fd og tUefrfFk izek.kd dks dc rd pqukSrh ns ldrk gSA chek vf/kfu;e

dh /kkjk 45 ds vUrxZr fufoZokfnrk [k.M esa lfEefyr fd;k tkuk pkfg, fd chek dEiuh ,d le; vof/k ds ckn tUefrfFk izek.kd dks pqukSrh ugha ns ldsxhA izdj.k esa izLrkod dh vk;q 63 o"kZ gSA fookn esa mldh vk;q 73 o"kZ gksuk crk;k x;kA vk;q esa ukS o"kZ ds vUrj dks] laHkor% ,tsaV }kjk vklkuh ls idM+k tk ldrk FkkA thou chek O;olk; esa ;g mYys[kuh; gS fd ,tsaV vius fj'rsnkjksa ds e/; chek mRiknksa dk foi.ku djrs gSaA ,slh fLFkfr esa vius fudV lEcU/kh ds izfr mudh vfrfjDr mnkjrk chek lafonk esa fookn ds tUe dks izsfjr dj ldrh gSA 'kk[kk dk;kZy; esa izLrko i= ds fujh{k.k ds lEcU/k esa Li"V fu;e gS fd ogk¡ tUefrfFk dh tk¡p dh tkrh gSA 19 o"kZ ls de rFkk 50 o"kZ ls vf/kd vk;q ds izLrkoksa dh vk;q ds lEcU/k esa izLrqr izek.k i=ksa dh fo'ks"k lko/kkuh ls tk¡p dh tkrh gSA bl izdkj izLrko ds le; chek vfHkdrkZ dh FkksM+h lko/kkuh vkSj chek dEiuh dh FkksM+h ltxrk chek lsok esa gksus okys fooknksa dh la[;k de djus esa cgqr lgk;d gks ldrh gSA

fufoZokfnrk [k.M lEcU/khmiHkksDrk laj{k.k vf/kfu;e] 1986] /kkjk 2¼th½] ¼0½ ds vUrxZr lsok esa U;wurk ds fy,] Hkkjrh; thou chek fuxe }kjk chek nkok fujkd``r fd;s tkus vkSj Qksje ls jkgr u feyus ij] Qksje ds fu.kZ; ds fo:) vihy dh x;hA fuxe us cheknkj }kjk lafonk ls lEcfU/kr egRoiw.kZ rF;ksa dks tku&cw>dj fNikus ds dkj.k nkok [kkfjt fd;kA lk{;ksa ds vk/kkj ij Qksje us fuxe }kjk nkok fujkd`r fd;k tkuk mfpr Bgjk;k vkSj lsok esa U;wurk ugha ekuh xbZA jkT; vk;ksx us Hkh Qksje ds fu.kZ; dk leFkZu fd;k vkSj nkosnkj dh vihy [kkfjt dj nhA

chek vf/kfu;e] 1938] /kkjk 45 ds vuqlkj tc vfHkys[k ls iw.kZr% fl) gks tk;s fd chek djkrs le; /kks[ks ls chekfj;ksa ds rF;ksa dks tku&cw>dj fNik;k x;k] rc nks lky dh vof/k chr tkus ds Ik'pkr~ Hkh ikWfylh dks pqukSrh nh tk ldrh gSA Jherh yfyrk peksyh cuke Hkkjrh; thou chek fuxe ¼2006 ;w,Mh 854½

f'kdk;rdrkZ us miHkksDrk laj{k.k vf/kfu;e 1986 dh /kkjk 15 ds vUrxZr ftyk miHkksDrk Qksje ds fu.kZ; ds fo:) vihy dh ftlesa nkosnkj dks chek jkf'k dk Hkqxrku djkus dh izkFkZuk vLohdkj dj nh

thou chek lafonk vfuok;Z :Ik ls fyf[kr gksrh gS] ftldk vk/kkj izLrko i= gksrk gSA

J«mhH$ {hV

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}kjk tek dh x;h izhfe;e dh jkf'k ykSVk nh tk,xhA

nkosnkj us ftyk miHkksDrk Qksje esa cheknkrk ds fu.kZ; ds fo:) f'kdk;r ntZ djds lEiw.kZ chek jkf'k dk Hkqxrku djk;s tkus dh ek¡x dhA ftyk Qksje esa ekeys dh lquokbZ gqbZ fuxe dh vksj ls fnoaxr cheknkj dh tUe frfFk dk izek.k i= izLrqr fd;k x;k tks fd cheknkj ds Ldwy ds iz/kkukpk;Z dh vksj ls fuxZr FkkA tUefrfFk izek.k i= esa iz/kkukpk;Z ds gLrk{kj ds uhps vafdr frfFk esa ,d vad esa vksoj jkbfVax FkhA chek dEiuh dh vksj ls izLrqr vfHkys[k esa iz/kkukpk;Z ds 'kiFk i= dk vHkko FkkA bl izdkj cheknkrk }kjk nkok [kkfjt fd;k tkuk] lsok esa U;wurk ekuh x;h vkSj cheknkrk dks vkns'k fn;k x;k fd chek jkf'k 10]000 :i;s nq?kZVuk fgrykHk vkSj cksul dk Hkqxrku nkosnkj dks fd;k tk,A lkFk gh 2000 :Ik;s {kfriwfrZ o 1000 :Ik;s okn O;; ds :Ik esa ,d ekg ds vanj Hkqxrku djuk lqfuf'pr fd;k tk;sA

vk/kkj ij chek i= ds lEcU/k esa dksbZ okn ugha dj ldrkA fdUrq] diV }kjk rF;ksa dks fNikus ij cheki= dHkh Hkh O;FkZ fd;k tk ldrk gSA ;g fu;e vfuok;Z :Ik ls izLrkod dks crk;k tkuk pkfg,A bl lUnHkZ esa] chek vfHkdrkZ dh Hkwfedk cgqr izklafxd gks tkrh gSA oLrqr%] vfHkdrkZ dk nkf;Ro gS fd lafonk lEcU/kh egRoiw.kZ izko/kkuksa dks izLrkod ds lEeq[k HkyhHkk¡fr Li"V dj ns] vU;Fkk ;g chek lsok esa U;wurk dk ekeyk cu ldrk gSA

vk;q izek.ku ¼vf/ko;½ lEcU/khmiHkksDrk laj{k.k vf/kfu;e] 1986] /kkjk 15 ds vUrxZr vihy dh x;h tks fd ftyk miHkksDrk Qksje gfj}kj ds ml fu.kZ; ds fo:) Fkh ftlesa f'kdk;rdrkZ dk cheknkok Lohdkj fd;s tkus dk vkns'k FkkA nkosnkj] fnoaxr chfer dk nRrd iq= vkSj ikWfylh dk ukekafdrh gSA chek dEiuh us nÙkd iq= gksus ds izek.kd dh ek¡x dh] ftls nkosnkj izLrqr ugha dj ldk] fdUrq Qksje us ukekafdrh gksuk i;kZIr ekukA ukekafdrh dksbZ Hkh O;fDr gks ldrk gSA cheknkrk dh vksj ls nwljh vkifRr Fkh fd chek izLrko ds le; izLrkod dh vk;q 73 o"kZ Fkh tcfd chek izLrko i= esa 64 o"kZ fy[kdj feF;ko.kZu fd;k x;k vkSj 73 o"kZ dh vk;q esa izLrkod dk chek ugha gks ldrk FkkA vr% Hkkjrh; thou chek fuxe us nkok fujkd`r dj fn;kA vk;q izek.ku ds fy, oksVj fyLV lk{; ds :i esa izLrqr dh x;h vkSj Jh fot;iky flag dks xokg ds :i esa izLrqr fd;k x;kA Qksje us oksVj fyLV dks vk;q izek.kd ds :i esa Lohdkj ugha fd;k cfYd nkosnkj }kjk izLrqr ifjokj jftLVj dh izfof"V dks ekU;rk iznku dhA nkosnkj vkSj fot;iky flag ds e/; lEifRr lEcU/kh dbZ fookn U;k;ky; esa py jgs FksA vr% fot;iky flag dk fo}s"k Hkkouk ls izsfjr gksuk LokHkkfod Fkk vkSj mudh xokgh vLohdkj dj nh x;hA Qksje us fuxe dks nkok Lohdkj djus dk vkns'k fn;kA jkT; vk;ksx us Qksje ds fu.kZ; esa dksbZ gLr{ksi ugha fd;k vkSj fuxe dh vihy dks [kkfjt dj fn;kA Hkkjrh; thou chek fuxe cuke Jh jktsUnz flag ¼2005 ;w,Mh 173½

vihy esa ftyk miHkksDrk Qksje gfj}kj ds fu.kZ; dks pqukSrh nh xbZ ftlesa nkosnkj dh f'kdk;r dks Lohdkj djrs gq, Hkkjrh; thou chek fuxe dks nkos dk Hkqxrku djus dk vkns'k fn;k x;kA Jh Qwy flag us thou chek djk;k Fkk] ftudh ckn esa e`R;q gks x;hA f'kdk;rdrkZ]

cheknkrk us ftyk miHkksDRkk Qksje ds fu.kZ; ds fo:) jkT; vk;ksx esa vihy nk;j dhA ekeys dh lquokbZ gqbZA nkosnkj dh vksj ls vk;ksx esa dksbZ mifLFkr ugha gqvkA chek dEiuh }kjk izLrqr tUefrfFk izek.k i= dks mfpr ekurs gq, vkSj iz/kkukpk;Z ds 'kiFk i= dh vko';drk u ekurs gq, vihy Lohdkj dj yh xbZA ekeys esa chek nkos dks vLohdkj djuk lsok esa U;wurk ugha ekuk x;k vkSj cheknkrk dks vkns'k fn;k x;k fd dsoy tek izhfe;e dh jkf'k dk Hkqxrku nkosnkj dks dj fn;k tk,A

foe'kZthou chek lafonk vfuok;Z :Ik ls fyf[kr gksrh gS] ftldk vk/kkj izLrko i= gksrk gSA vkbZvkjMh, ¼xzkgd fgr j{kk½ fofu;e 2002 ds fu;e 4 ¼1½ esa mYys[k gS fd izLrko dh Lohd`fr ds 30 ds vanj cheknkrk }kjk izLrko i= dh izfrfyfi chfer dks fu%'kqYd miyC/k djkbZ tk,xhA ;g fu;e cheknkrk vkSj cheknkj nksuksa ds fgrksa dh j{kk djrk gS vkSj Hkfo"; esa chek lafonk esa lEHkkfor fooknksa dk U;wuhdj.k djrk gSA lkFk gh bl fu;e ls foØsrk o Øsrk ds e/; xzkgd lEcU/kksa esa ikjnf'kZrk dk iks"k.k lqfuf'pr gksrk gSA xzkgd lEcU/k izcU/ku ds Øe esa *VªhVhax dLVej Qsvjyh* vo/kkj.kk ds vUrxZr ikjnf'kZrk dks izeq[k vo;o ekuk x;k gSA thou chek esa vk;q dk izek.ku vfuok;Z gS] ftlds fy, ekud vkSj miekud izek.kdksa dh lwph gSA Ldwy }kjk fuxZr tUefrfFk izek.k i= dks ekud izek.kd ekuk x;k gSA thou chek lafonk ds ckjs esa xzkgd f'k{kk esa ;g vfuok;Z :Ik ls lfEefyr fd;k tkuk pkfg, fd xzkgd dks izLrko i= vkSj tUefrfFk izek.kd ds egRo vkSj nwjxkeh izHkko ls voxr djk fn;k tk,A chek vf/kfu;e 1938] /kkjk 45 ds vuqlkj chekdrkZ cheki= tkjh djus ds nks o"kZ ckn] vKkuo'k feF;ko.kZu vFkok egRoiw.kZ rF;ksa ds izdV u djus ds

vxj cheknkj us izLrko i= esa dksbZ feF;k o.kZu fd;k gS] rc chek dEiuh vius nkf;Ro ls eqDr gks tkrh gS vkSj tek izhfe;e dh jkf'k Hkh tCr dj ysrh gSA

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fd;k tkuk pkfg,A ik¡p o"kZ dh vof/k bruh yEch gS fd lk/kkj.kr;k fdlh O;fDr dh Le`fr ifjf/k esa lekfo"V u gks ik;sA nwljh vksj] blls chek dEiuh dk vf/kdkj vf/kd foLr`r gks tkrk gSA rhljh ckr ;g gS fd yEch vof/k xzkgd dks feF;ko.kZu ds fy, izsfjr djrh gSA vis{kkd`r de vof/k ds lVhd fooj.k dh izLrkod ls vis{kk dh tk ldrh gSA

lh,uchlh vkokt+ pSuy ij ,d miHkksDrk ftKklk lquh] ftldk mYys[k djuk cgqr mi;qDr gSA efgyk] LokLF; chek ikWfylh ysus dh bPNqd gSA bUgsa Lru dSalj gks pqdk gS vkSj vc ;s iw.kZr% jksxeqDr gSaA bUgksaus LokLF; chek ikWfylh ds fy, dbZ chek dEifu;ksa ls lEidZ fd;k] ysfdu fdlh dh vksj ls Hkh bUgsa Li"V mRrj ugha fey ldk fd budk chek gks ldsxk vFkok ughaA cgqr jkspd ckr ;g gS fd dbZ dEifu;ksa ds vfHkdrkZvksa us bUgsa lq>ko fn;k fd vius iwoZ jksx dh lwpuk izdV u djsa vkSj chek djk ysaA pSuy ds chek fo'ks"kK us xzkgd dks lko/kku fd;k fd os chek djkrs le; jksx lEcU/kh rF; dks dnkfi u fNik;saA vU;Fkk nkos dh n'kk esa fookn gksxk vkSj chek dEiuh vius nkf;Ro ls eqDr gks tk;sxhA vkbZlhvkbZlhvkbZ yksEckMZ esa dSalj jksfx;ksa ds fy, Hkh rhu yk[k :Ik;s rd dh jkf'k dh ikWfylh miyC/k gSA chek vfHkdrkZvksa dh vksj ls nh xbZ ;g lykg fd cheknkrk dks jksx fo"k;d tkudkjh u nsdj ikWfylh ys yh tk;sA ;g vR;ar fpUrktud fo"k; gSA ;gk¡ ;g Hkh vuqeku yxrk gS fd vusd ekeyksa esa vfHkdrkZvksa ds blh izdkj ds ijke'kZ ds vk/kkj ij chek djk;k tkrk gSA chek O;olk; esa bl fLFkfr esa lq/kkj yk;s tkus dh vis{kk gSA

nq?kZVuk fgrykHk esa viotZu [k.M lEcU/khmiHkksDrk laj{k.k vf/kfu;e 1986 dh /kkjk 14¼Mh½ ds vUrxZr lsok esa U;wurk ds lEcU/k esa Hkkjrh; thou chek fuxe us ftyk Qksje ds fu.kZ; ds fo:) vihy dh ftlesa nq?kZVuk fgrykHk nsus dk vkns'k fn;k x;k FkkA chek/kkjd dh ikWfylh nksgjk nq?kZVuk fgrykHk lfgr dh x;h FkhA chek dEiuh us ikxyiu vkSj vkRegR;k lEcU/kh viotZu [k.M ds vk/kkj ij nq?kZVuk fgrykHk nsus ls budkj dj fn;kA cheknkj dk ikxy gksuk vkSj vkRegR;k djuk fl) ugha gqvkA nkosnkj dks nq?kZVuk fgrykHk dk gdnkj ?kksf"kr fd;k x;kA jkT; vk;skx us Qksje ds fu.kZ; dh iqf"V dj nh]

viotZu [k.M ds vk/kkj ij nksgjs fgrykHk dk nkok fujkd`r fd;k] ftlds vuqlkj tkucw> dj vius dks pksV igq¡pkus] vkRegR;k dk iz;kl djus] ikxyiu ;k vuSfrd vkpj.k ds dkj.k vFkok fdlh eknd nzO; inkFkZ] vkS"kf/k ;k u'khyh oLrq dk lsou djus ls gqbZ e`R;q dh n'kk esa nksgjk nq?kZVuk fgrykHk ugha feyrk gSA

ikWfylh esa Li"V :i ls ^viotZu [k.M* dk mYys[k jgrk gS fd lkekU; chek jkf'k ds fy, nkok fujkd`r djus ij fl) djus dk Hkkj chek dEiuh ds Åij gksrk gS] tcfd nksgjk nq?kZVuk fgrykHk ds lEcU/k esa ;g fl) djus dk Hkkj fd e`R;q viotZu [k.M dkj.kksa ls ugha gqbZ] nkosnkj ij gksrk gSA chek/kkjd ljdkjh lsok esa dk;Zjr Fkk vkSj mlds }kjk ikxyiu ds dkj.k vodk'k ij jgus vFkok vuqifLFkr jgus dk dksbZ izek.k ugha fn;k x;kA iqfyl esa ntZ izFke lwpuk fjiksVZ vkSj iqfyl }kjk yxk;h x;h Qkbuy fjiksVZ ls fl) gqvk fd deys'k pUnz iar dk fnekx dqN fnu iwoZ ls dqN fod`r py jgk FkkA e`rd us vkRegR;k ugha fd cfYd vdLekr~ xaxk esa fxj iM+sA U;k;ky; us dqN fnu ls fnekx fod`r gksus vFkok ekufld vlarqyu gksus dks ikxyiu ugha ekukA f'kdk;rdrkZ us 'kiFkiwoZd c;ku fn;k fd mlds ifr ikxy ugha FksA chek dEiuh dh vksj ls e`rd ds fdlh ekufld vLirky esa bykt djkus vFkok HkrhZ gksus dk dksbZ izek.k ugha fn;k x;kA jkT; vk;ksx us Qksje ds fu.kZ; dks cjdjkj j[kk ftlesa C;kt lfgr nq?kZVuk fgrykHk fn;s tkus dk vkns'k FkkA

foe'kZlosZ{k.k esa cgqr egRoiw.kZ rF; izdk'k esa vk;k fd izcq) xzkgd oxZ esa nksgjk nq?kZVuk fgrykHk lqfo/kk dk lgh vFkZ ekywe ugha FkkA izdj.k esa nkosnkj dks bl lqfo/kk dk vFkZ ekywe FkkA blfy, mUgksaus chek dEiuh ds fo:) f'kdk;r ntZ dh vkSj mipkj Hkh gkfly fd;k] vU;Fkk og lk/kkj.k ,dy chek jkf'k ysdj larq"V gks tkrsA losZ{k.k esa ;g Hkh ekywe gqvk fd xzkgd dbZ ckj nq?kZVuk fgrykHk dk cgqr HkzkfUriw.kZ vkSj xyr vFkZ dj ysrs gSaA dqN xzkgdksa us nq?kZVuk fgrykHk ls viuk vk'k; O;Dr fd;k fd nq?kZVuk ls e`R;q dh n'kk esa chek

ftlesa C;kt lfgr nq?kZVuk fgrykHk Hkqxrku djus dk vkns'k FkkA Hkkjrh; thou chek fuxe cuke Jherh ehuk iUr ¼2005 ;w,Mh 768½

ftyk miHkksDrk Qksje mRrjdk'kh ds fu.kZ; ds fo:) jkT; vk;ksx esa vihy dh x;hA Qksje esa nkosnkj us f'kdk;r dh] fd mlds ifr 'kkjhfjd o ekufld :i ls LoLFk O;fDr Fks vkSj mUgksaus vkRegR;k ugha dh] mudh e`R;q nq?kZVuk ds dkj.k gqbZ] blfy, nkosnkj dks nksgjk nq?kZVuk fgrykHk feyuk pkfg,A lk/kkj.k ,dy chek jkf'k dk Hkqxrku nkosnkj dks dj fn;k x;kA fdUrq] fuxe us nq?kZVuk fgrykHk ds

lHkh chek vuqcU/k ije ln~Hkko ds fl)kUr ij vk/kkfjr gksrs gSaA

nqjLr ekuk x;k fd izLrkod us tku&cw>dj /kks[kk nsus ds mn~ns'; ls feF;k o.kZu djds egRoiw.kZ rF;ksa dks fNik;kA chek dEiuh us *fl) djus ds Hkkj dks* c[kwch vatke fn;kA

vihydrkZ ds vf/koDrk dk rdZ Fkk fd chek vf/kfu;e dh 1938 dh /kkjk 45 ds vuqlkj chek lafonk ds nks o"kZ ckn ikWfylh fufoZokn gks tkrh gS vkSj cheknkrk feF;ko.kZu ds vk/kkj ij ikWfylh ds fo"k; esa fookn ugha dj ldrk] fdUrq bl /kkjk esa Li"V gS fd vKkurko'k fd;s x;s feF;ko.kZu dh n'kk esa nks o"kZ ckn ikWfylh fufoZokn gks tk,xh vkSj tku&cw>dj /kks[kk nsus ds mn~ns'; ls fd;s x;s nqO;Zins'ku vFkok fNiko dh n'kk esa ikWfylh fufoZokn ugha gksxhA vr% diV dh n'kk esa chek dEiuh dk fookn djus dk vf/kdkj lnSo lqjf{kr jgsxkA fuxe us cheknkj }kjk fd;s x;s diV dks izek.kksa }kjk fl) Hkh dj fn;k fd chek djkrs le; tku&cw>dj e/kqesg vkSj fpfdRlk bfrgkl dks fNik;k x;kA e/kqesg ds dkj.k gh chfer dks ân;] 'olu vkSj xqnkZ lEcU/kh jksx Hkh gq, vkSj e`R;q Hkh gqbZA fpfdRlk lkfgR; esa LFkkfir rF; gS fd e/kqesg ds dkj.k 'kjhj ds izeq[k thouh vo;o jksxxzLr gks tkrs gSaA vr% fNik;h x;h chekjh dk eR̀; q dk dkj.k cuuk fl) gkrs k gAS

Hkkjrh; thou chek fuxe ,oa vU; cuke Jherh 'kf'kckyk( ¼IV½ lhihts 91 ¼,ulh½ ekeys esa fuxe us bl vk/kkj ij nkok fujkd`r

xbZA fookn bl fo"k; ij Fkk fd e/kqesg jksx gksus dh ckr u crkuk nkok fujkd`r djus ds fy, Ik;kZIr dkj.k gS vFkok ughaA ikWfylh ysrs le; izLrko i= esa cheknkj us e/kqesg u gksus dk Li"V mYys[k fd;kA chek dEiuh }kjk miyC/k djk;s x;s] fnoaxr ds fpfdRlk vfHkys[k ls fl) gksrk gS fd og chek djkus ls rhu lky igys ls e/kqesg jksxh jgk FkkA ihthvkbZ p.Mhx<+ ds fpfdRld] ,lksfl,V izksQslj us HkrhZ djrs le; fy[kh x;h dsl fgLVªh esa Li"V fy[kk fd og fiNys ik¡p o"kkZsa ls e/kqesg jksxh gS vkSj rhu o"kZ iwoZ risfnd dh fpfdRlk Hkh ys pqdk gSA ckn esa ijh{k.k mijkUr mls ân; vkSj xqnkZ jksx Hkh ik;s x;sA e`R;q izek.k i= esa mYys[k fd;k x;k Fkk fd chfer dk nsgkUr ân; vkSj 'olu lEcU/kh dfBukbZ ls gqvk vkSj mls rhoz xqnkZ jksx Hkh FkkA chek dEiuh us cheknkj ds esfMdy vodk'k ij jgus dk fooj.k miyC/k djk;k] ftlds vuqlkj og chek djkus ls rhu o"kZ iwoZ dh vof/k esa ik¡p ckj ,d lIrkg ls vf/kd jksxh izek.k i= ds vk/kkj ij NqV~Vh ij jgkA izLrko i= esa iz'u Fkk fd fiNys ik¡p o"kkZsa esa vkius fdlh jksx dh fpfdRlk ds lEcU/k esa ,d lIrkg ls vf/kd ds fy, fdlh MkWDVj ls ijke'kZ fy;k gSA bl iz'u ds mRrj esa chfer us *ugha* fy[kkA e/kqesg jksx vkSj fpfdRlk bfrgkl dks fNikuk] lafonk ls lEcfU/kr egRoiw.kZ rF;ksa dks tku&cw>dj fNikuk ekuk x;k D;kasfd budh tkudkjh ls chek dEiuh dk fu.kZ; izHkkfor gks ldrk FkkA Qksje dk ;g fu"d"kZ

fd;k fd ikWfylh ysrs le; izLrkod us e/kqesg ls ihfM+r gksus dh ckr fNik;hA chfer dh e`R;q ân;k?kkr ls gqbZA jk"Vªh; vk;ksx us ekuk fd MkbZfcVht+ eSyhVl vkSj ân;k?kkr ijLij vR;f/kd vkfJr jksx gSaA e/kqesg jksx gksus lEcU/kh rF;ksa dks izdV u djuk] lafonk esa egRoiw.kZ rF;ksa dk fNiko ekuk x;kA jk"Vªh; v;ksx us jkT; vk;ksx ds nkok Hkqxrku djus ds fu.kZ; dks iyV fn;k vkSj fuxe dh vihy Lohdkj dhA Hkkjrh; thou chek fuxe cuke eUlk nsoh ( f}rh; ¼2003½ lhihts 135 ¼,ulh½ ekeys esa cheknkj dh nks o"kZ ckn e`R;q gks x;hA chek dEiuh us bl vk/kkj ij nkok fujkd`r fd;k fd chfer us tku&cw>dj /kks[kk nsus ds mn~ns'; ls MkbZfcVht+ eSyhVl gksus vkSj rRlEcU/kh mipkj bfrgkl o`Rr dks fNik;kA og vkB o"kZ ls e/kqesg dh fpfdRlk djk jgk FkkA dk¡Vk pqHkus ds dkj.k iSj dkVuk iM+k vkSj xqnsZ Qsy gksus ds dkj.k e`R;q gqbZA ekeys esa egRoiw.kZ rF;ksa dk Nqiko ekuk x;kA fuxe }kjk nkok fujkd`r djuk mfpr Bgjk;k x;kA jkT; vk;ksx ds vihy Lohdkj djus ds fu.kZ; dks fujLr dj ftyk Qksje ds fu.kZ; dh iqf"V dh x;h] ftlesa nkosnkj dh vthZ [kkfjt dh xbZ FkhA ekeys ds rF;ksa vkSj iwoZ fuf.kZr oknksa ds vkyksd esa nkok fujkd`r fd;k tkuk] chek lsok esa U;wurk ugha ekuh x;h vkSj ftyk Qksje }kjk f'kdk;r dks [kkfjt djuk mfpr ekuk x;kA vr% vihy [kkfjt dj nh x;hA ¼2006 ;w,Mh 854½

foe'kZchek vf/kfu;e] 1938 dh /kkjk 45 ds vuqlkj chekdrkZ dks ;g 'krZ tksM+uh iM+rh gS fd cheki= tkjh djus ds nks o"kZ ckn vKkuo'k feF;ko.kZu vFkok egRoiw.kZ rF;ksa ds izdV u djus ds dkj.k cheki= ds lEcU/k esa dksbZ okn izLrqr ugha fd;k tk ldrk gSA diV }kjk rF;ksa dks fNikus ij chek vof/k ds nkSjku lafonk dHkh Hkh jn~n fd;k tk ldrk gSA lHkh chek vuqcU/k ije ln~Hkko ds fl)kUr ij vk/kkfjr gksrs gSaA *iw.kZ izdVu dk fu;e* nksuksa i{kdkjksa ij ykxw gksrk gS] fdUrq fQj Hkh nks dkj.kksa ls chfer dk nkf;Ro izeq[k ekuk tkrk gS & izFke] chfer dks chek fo"k;&oLrq ds ckjs esa vf/kd tkudkjh gksrh gS( f}rh;] chekdrkZ rks tksf[ke mBkus okyk i{kdkj gksrk gSA thou chek dEiuh vuqcU/k ds le; izLrkod ds fiNys ik¡p lky dk fpfdRlk bfrgkl iwNrh gSA bl vof/k dks nks vFkok rhu o"kZ rd lhfer

lk/kkj.kr;k e`R;q gksus ij chek dEiuh lk/kkj.k ,dy jkf'k dk Hkqxrku djsxh vkSj nq?kZVuk ls e`R;q gksus ij nksxquh chek jkf'k dk Hkqxrku fd;k tk;sxkA

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fd;k tkuk pkfg,A ik¡p o"kZ dh vof/k bruh yEch gS fd lk/kkj.kr;k fdlh O;fDr dh Le`fr ifjf/k esa lekfo"V u gks ik;sA nwljh vksj] blls chek dEiuh dk vf/kdkj vf/kd foLr`r gks tkrk gSA rhljh ckr ;g gS fd yEch vof/k xzkgd dks feF;ko.kZu ds fy, izsfjr djrh gSA vis{kkd`r de vof/k ds lVhd fooj.k dh izLrkod ls vis{kk dh tk ldrh gSA

lh,uchlh vkokt+ pSuy ij ,d miHkksDrk ftKklk lquh] ftldk mYys[k djuk cgqr mi;qDr gSA efgyk] LokLF; chek ikWfylh ysus dh bPNqd gSA bUgsa Lru dSalj gks pqdk gS vkSj vc ;s iw.kZr% jksxeqDr gSaA bUgksaus LokLF; chek ikWfylh ds fy, dbZ chek dEifu;ksa ls lEidZ fd;k] ysfdu fdlh dh vksj ls Hkh bUgsa Li"V mRrj ugha fey ldk fd budk chek gks ldsxk vFkok ughaA cgqr jkspd ckr ;g gS fd dbZ dEifu;ksa ds vfHkdrkZvksa us bUgsa lq>ko fn;k fd vius iwoZ jksx dh lwpuk izdV u djsa vkSj chek djk ysaA pSuy ds chek fo'ks"kK us xzkgd dks lko/kku fd;k fd os chek djkrs le; jksx lEcU/kh rF; dks dnkfi u fNik;saA vU;Fkk nkos dh n'kk esa fookn gksxk vkSj chek dEiuh vius nkf;Ro ls eqDr gks tk;sxhA vkbZlhvkbZlhvkbZ yksEckMZ esa dSalj jksfx;ksa ds fy, Hkh rhu yk[k :Ik;s rd dh jkf'k dh ikWfylh miyC/k gSA chek vfHkdrkZvksa dh vksj ls nh xbZ ;g lykg fd cheknkrk dks jksx fo"k;d tkudkjh u nsdj ikWfylh ys yh tk;sA ;g vR;ar fpUrktud fo"k; gSA ;gk¡ ;g Hkh vuqeku yxrk gS fd vusd ekeyksa esa vfHkdrkZvksa ds blh izdkj ds ijke'kZ ds vk/kkj ij chek djk;k tkrk gSA chek O;olk; esa bl fLFkfr esa lq/kkj yk;s tkus dh vis{kk gSA

nq?kZVuk fgrykHk esa viotZu [k.M lEcU/khmiHkksDrk laj{k.k vf/kfu;e 1986 dh /kkjk 14¼Mh½ ds vUrxZr lsok esa U;wurk ds lEcU/k esa Hkkjrh; thou chek fuxe us ftyk Qksje ds fu.kZ; ds fo:) vihy dh ftlesa nq?kZVuk fgrykHk nsus dk vkns'k fn;k x;k FkkA chek/kkjd dh ikWfylh nksgjk nq?kZVuk fgrykHk lfgr dh x;h FkhA chek dEiuh us ikxyiu vkSj vkRegR;k lEcU/kh viotZu [k.M ds vk/kkj ij nq?kZVuk fgrykHk nsus ls budkj dj fn;kA cheknkj dk ikxy gksuk vkSj vkRegR;k djuk fl) ugha gqvkA nkosnkj dks nq?kZVuk fgrykHk dk gdnkj ?kksf"kr fd;k x;kA jkT; vk;skx us Qksje ds fu.kZ; dh iqf"V dj nh]

viotZu [k.M ds vk/kkj ij nksgjs fgrykHk dk nkok fujkd`r fd;k] ftlds vuqlkj tkucw> dj vius dks pksV igq¡pkus] vkRegR;k dk iz;kl djus] ikxyiu ;k vuSfrd vkpj.k ds dkj.k vFkok fdlh eknd nzO; inkFkZ] vkS"kf/k ;k u'khyh oLrq dk lsou djus ls gqbZ e`R;q dh n'kk esa nksgjk nq?kZVuk fgrykHk ugha feyrk gSA

ikWfylh esa Li"V :i ls ^viotZu [k.M* dk mYys[k jgrk gS fd lkekU; chek jkf'k ds fy, nkok fujkd`r djus ij fl) djus dk Hkkj chek dEiuh ds Åij gksrk gS] tcfd nksgjk nq?kZVuk fgrykHk ds lEcU/k esa ;g fl) djus dk Hkkj fd e`R;q viotZu [k.M dkj.kksa ls ugha gqbZ] nkosnkj ij gksrk gSA chek/kkjd ljdkjh lsok esa dk;Zjr Fkk vkSj mlds }kjk ikxyiu ds dkj.k vodk'k ij jgus vFkok vuqifLFkr jgus dk dksbZ izek.k ugha fn;k x;kA iqfyl esa ntZ izFke lwpuk fjiksVZ vkSj iqfyl }kjk yxk;h x;h Qkbuy fjiksVZ ls fl) gqvk fd deys'k pUnz iar dk fnekx dqN fnu iwoZ ls dqN fod`r py jgk FkkA e`rd us vkRegR;k ugha fd cfYd vdLekr~ xaxk esa fxj iM+sA U;k;ky; us dqN fnu ls fnekx fod`r gksus vFkok ekufld vlarqyu gksus dks ikxyiu ugha ekukA f'kdk;rdrkZ us 'kiFkiwoZd c;ku fn;k fd mlds ifr ikxy ugha FksA chek dEiuh dh vksj ls e`rd ds fdlh ekufld vLirky esa bykt djkus vFkok HkrhZ gksus dk dksbZ izek.k ugha fn;k x;kA jkT; vk;ksx us Qksje ds fu.kZ; dks cjdjkj j[kk ftlesa C;kt lfgr nq?kZVuk fgrykHk fn;s tkus dk vkns'k FkkA

foe'kZlosZ{k.k esa cgqr egRoiw.kZ rF; izdk'k esa vk;k fd izcq) xzkgd oxZ esa nksgjk nq?kZVuk fgrykHk lqfo/kk dk lgh vFkZ ekywe ugha FkkA izdj.k esa nkosnkj dks bl lqfo/kk dk vFkZ ekywe FkkA blfy, mUgksaus chek dEiuh ds fo:) f'kdk;r ntZ dh vkSj mipkj Hkh gkfly fd;k] vU;Fkk og lk/kkj.k ,dy chek jkf'k ysdj larq"V gks tkrsA losZ{k.k esa ;g Hkh ekywe gqvk fd xzkgd dbZ ckj nq?kZVuk fgrykHk dk cgqr HkzkfUriw.kZ vkSj xyr vFkZ dj ysrs gSaA dqN xzkgdksa us nq?kZVuk fgrykHk ls viuk vk'k; O;Dr fd;k fd nq?kZVuk ls e`R;q dh n'kk esa chek

ftlesa C;kt lfgr nq?kZVuk fgrykHk Hkqxrku djus dk vkns'k FkkA Hkkjrh; thou chek fuxe cuke Jherh ehuk iUr ¼2005 ;w,Mh 768½

ftyk miHkksDrk Qksje mRrjdk'kh ds fu.kZ; ds fo:) jkT; vk;ksx esa vihy dh x;hA Qksje esa nkosnkj us f'kdk;r dh] fd mlds ifr 'kkjhfjd o ekufld :i ls LoLFk O;fDr Fks vkSj mUgksaus vkRegR;k ugha dh] mudh e`R;q nq?kZVuk ds dkj.k gqbZ] blfy, nkosnkj dks nksgjk nq?kZVuk fgrykHk feyuk pkfg,A lk/kkj.k ,dy chek jkf'k dk Hkqxrku nkosnkj dks dj fn;k x;kA fdUrq] fuxe us nq?kZVuk fgrykHk ds

lHkh chek vuqcU/k ije ln~Hkko ds fl)kUr ij vk/kkfjr gksrs gSaA

nqjLr ekuk x;k fd izLrkod us tku&cw>dj /kks[kk nsus ds mn~ns'; ls feF;k o.kZu djds egRoiw.kZ rF;ksa dks fNik;kA chek dEiuh us *fl) djus ds Hkkj dks* c[kwch vatke fn;kA

vihydrkZ ds vf/koDrk dk rdZ Fkk fd chek vf/kfu;e dh 1938 dh /kkjk 45 ds vuqlkj chek lafonk ds nks o"kZ ckn ikWfylh fufoZokn gks tkrh gS vkSj cheknkrk feF;ko.kZu ds vk/kkj ij ikWfylh ds fo"k; esa fookn ugha dj ldrk] fdUrq bl /kkjk esa Li"V gS fd vKkurko'k fd;s x;s feF;ko.kZu dh n'kk esa nks o"kZ ckn ikWfylh fufoZokn gks tk,xh vkSj tku&cw>dj /kks[kk nsus ds mn~ns'; ls fd;s x;s nqO;Zins'ku vFkok fNiko dh n'kk esa ikWfylh fufoZokn ugha gksxhA vr% diV dh n'kk esa chek dEiuh dk fookn djus dk vf/kdkj lnSo lqjf{kr jgsxkA fuxe us cheknkj }kjk fd;s x;s diV dks izek.kksa }kjk fl) Hkh dj fn;k fd chek djkrs le; tku&cw>dj e/kqesg vkSj fpfdRlk bfrgkl dks fNik;k x;kA e/kqesg ds dkj.k gh chfer dks ân;] 'olu vkSj xqnkZ lEcU/kh jksx Hkh gq, vkSj e`R;q Hkh gqbZA fpfdRlk lkfgR; esa LFkkfir rF; gS fd e/kqesg ds dkj.k 'kjhj ds izeq[k thouh vo;o jksxxzLr gks tkrs gSaA vr% fNik;h x;h chekjh dk eR̀; q dk dkj.k cuuk fl) gkrs k gAS

Hkkjrh; thou chek fuxe ,oa vU; cuke Jherh 'kf'kckyk( ¼IV½ lhihts 91 ¼,ulh½ ekeys esa fuxe us bl vk/kkj ij nkok fujkd`r

xbZA fookn bl fo"k; ij Fkk fd e/kqesg jksx gksus dh ckr u crkuk nkok fujkd`r djus ds fy, Ik;kZIr dkj.k gS vFkok ughaA ikWfylh ysrs le; izLrko i= esa cheknkj us e/kqesg u gksus dk Li"V mYys[k fd;kA chek dEiuh }kjk miyC/k djk;s x;s] fnoaxr ds fpfdRlk vfHkys[k ls fl) gksrk gS fd og chek djkus ls rhu lky igys ls e/kqesg jksxh jgk FkkA ihthvkbZ p.Mhx<+ ds fpfdRld] ,lksfl,V izksQslj us HkrhZ djrs le; fy[kh x;h dsl fgLVªh esa Li"V fy[kk fd og fiNys ik¡p o"kkZsa ls e/kqesg jksxh gS vkSj rhu o"kZ iwoZ risfnd dh fpfdRlk Hkh ys pqdk gSA ckn esa ijh{k.k mijkUr mls ân; vkSj xqnkZ jksx Hkh ik;s x;sA e`R;q izek.k i= esa mYys[k fd;k x;k Fkk fd chfer dk nsgkUr ân; vkSj 'olu lEcU/kh dfBukbZ ls gqvk vkSj mls rhoz xqnkZ jksx Hkh FkkA chek dEiuh us cheknkj ds esfMdy vodk'k ij jgus dk fooj.k miyC/k djk;k] ftlds vuqlkj og chek djkus ls rhu o"kZ iwoZ dh vof/k esa ik¡p ckj ,d lIrkg ls vf/kd jksxh izek.k i= ds vk/kkj ij NqV~Vh ij jgkA izLrko i= esa iz'u Fkk fd fiNys ik¡p o"kkZsa esa vkius fdlh jksx dh fpfdRlk ds lEcU/k esa ,d lIrkg ls vf/kd ds fy, fdlh MkWDVj ls ijke'kZ fy;k gSA bl iz'u ds mRrj esa chfer us *ugha* fy[kkA e/kqesg jksx vkSj fpfdRlk bfrgkl dks fNikuk] lafonk ls lEcfU/kr egRoiw.kZ rF;ksa dks tku&cw>dj fNikuk ekuk x;k D;kasfd budh tkudkjh ls chek dEiuh dk fu.kZ; izHkkfor gks ldrk FkkA Qksje dk ;g fu"d"kZ

fd;k fd ikWfylh ysrs le; izLrkod us e/kqesg ls ihfM+r gksus dh ckr fNik;hA chfer dh e`R;q ân;k?kkr ls gqbZA jk"Vªh; vk;ksx us ekuk fd MkbZfcVht+ eSyhVl vkSj ân;k?kkr ijLij vR;f/kd vkfJr jksx gSaA e/kqesg jksx gksus lEcU/kh rF;ksa dks izdV u djuk] lafonk esa egRoiw.kZ rF;ksa dk fNiko ekuk x;kA jk"Vªh; v;ksx us jkT; vk;ksx ds nkok Hkqxrku djus ds fu.kZ; dks iyV fn;k vkSj fuxe dh vihy Lohdkj dhA Hkkjrh; thou chek fuxe cuke eUlk nsoh ( f}rh; ¼2003½ lhihts 135 ¼,ulh½ ekeys esa cheknkj dh nks o"kZ ckn e`R;q gks x;hA chek dEiuh us bl vk/kkj ij nkok fujkd`r fd;k fd chfer us tku&cw>dj /kks[kk nsus ds mn~ns'; ls MkbZfcVht+ eSyhVl gksus vkSj rRlEcU/kh mipkj bfrgkl o`Rr dks fNik;kA og vkB o"kZ ls e/kqesg dh fpfdRlk djk jgk FkkA dk¡Vk pqHkus ds dkj.k iSj dkVuk iM+k vkSj xqnsZ Qsy gksus ds dkj.k e`R;q gqbZA ekeys esa egRoiw.kZ rF;ksa dk Nqiko ekuk x;kA fuxe }kjk nkok fujkd`r djuk mfpr Bgjk;k x;kA jkT; vk;ksx ds vihy Lohdkj djus ds fu.kZ; dks fujLr dj ftyk Qksje ds fu.kZ; dh iqf"V dh x;h] ftlesa nkosnkj dh vthZ [kkfjt dh xbZ FkhA ekeys ds rF;ksa vkSj iwoZ fuf.kZr oknksa ds vkyksd esa nkok fujkd`r fd;k tkuk] chek lsok esa U;wurk ugha ekuh x;h vkSj ftyk Qksje }kjk f'kdk;r dks [kkfjt djuk mfpr ekuk x;kA vr% vihy [kkfjt dj nh x;hA ¼2006 ;w,Mh 854½

foe'kZchek vf/kfu;e] 1938 dh /kkjk 45 ds vuqlkj chekdrkZ dks ;g 'krZ tksM+uh iM+rh gS fd cheki= tkjh djus ds nks o"kZ ckn vKkuo'k feF;ko.kZu vFkok egRoiw.kZ rF;ksa ds izdV u djus ds dkj.k cheki= ds lEcU/k esa dksbZ okn izLrqr ugha fd;k tk ldrk gSA diV }kjk rF;ksa dks fNikus ij chek vof/k ds nkSjku lafonk dHkh Hkh jn~n fd;k tk ldrk gSA lHkh chek vuqcU/k ije ln~Hkko ds fl)kUr ij vk/kkfjr gksrs gSaA *iw.kZ izdVu dk fu;e* nksuksa i{kdkjksa ij ykxw gksrk gS] fdUrq fQj Hkh nks dkj.kksa ls chfer dk nkf;Ro izeq[k ekuk tkrk gS & izFke] chfer dks chek fo"k;&oLrq ds ckjs esa vf/kd tkudkjh gksrh gS( f}rh;] chekdrkZ rks tksf[ke mBkus okyk i{kdkj gksrk gSA thou chek dEiuh vuqcU/k ds le; izLrkod ds fiNys ik¡p lky dk fpfdRlk bfrgkl iwNrh gSA bl vof/k dks nks vFkok rhu o"kZ rd lhfer

lk/kkj.kr;k e`R;q gksus ij chek dEiuh lk/kkj.k ,dy jkf'k dk Hkqxrku djsxh vkSj nq?kZVuk ls e`R;q gksus ij nksxquh chek jkf'k dk Hkqxrku fd;k tk;sxkA

47

irda j

ourn

al Ju

ly 2

010

thou chek esa tksf[ke dk p;u djrs le; izLrko esa fufgr HkkSfrd vkSj uSfrd nksuksa izdkj ds ladVksa dk ewY;kadu fd;k tkrk gS]

1MkW. lqcks/k dqekj] jhMj] okf.kT; foHkkx gs.u.c.x. dsUnzh; fo'ofo|ky;] Lokeh jkerhFkZ ifjlj] ckn'kkghFkkSy] fVgjh x<+oky] ¼mŸkjk[k.M½ 2491992 gjh'k pUnz jrwM+h] 'kks/k Nk=] gs.u.c.x. dsUnzh; fo'ofo|ky;] Lokeh jkerhFkZ ifjlj] ckn'kkghFkkSy] fVgjh x<+oky] ¼mŸkjk[k.M½ 249199

J«mhH$ {hV

46

irda j

ourn

al Ju

ly 2

010

dEiuh dqN Hkh Hkqxrku ugha djsxh] tcfd lgh vFkZ ;g gS fd lk/kkj.kr;k e`R;q gksus ij chek dEiuh lk/kkj.k ,dy jkf'k dk Hkqxrku djsxh vkSj nq?kZVuk ls e`R;q gksus ij nksxquh chek jkf'k dk Hkqxrku fd;k tk;sxkA vr% ;g vuq'kalk dh tk ldrh gS fd chek esa xzkgd f'k{kk dh fo"k;oLrq esa ikWfylh lEcU/kh 'krksZa ds vUrxZr nksgjk nq?kZVuk fgrykHk dks vfuok;Z :i ls lfEefyr fd;k tk;A

^iw.kZ izdVu fu;e* lEcU/khmiHkksDrk laj{k.k vf/kfu;e] 1986] /kkjk 15 ds vUrxZr Hkkjrh; thou chek fuxe us jkT; vk;ksx ds lEeq[k vihy dh ftlesa ftyk miHkksDrk Qksje ds fu.kZ; dks pqukSrh nh x;hA Qksje us chfer thou dh ik¡p ikWfyfl;ksa dh dqy /kujkf'k :i;s 3]55]000 nkosnkj dks Hkqxrku djus dk vkns'k fn;kA fuxe us bl vk/kkj ij chek nkok fujkd`r fd;k fd chek/kkjd us izLrko i= esa vius th.kZ jDr vfrlkj jksx dk mYys[k ugha fd;kA vk;ksx us ekuk fd vfrlkj ,slk jksx ugha gS] ftlesa lkekUr;k jksxh dh e`R;q gksrh gks] lkFk gh vfHkys[k esa ,slk dksbZ lk{; ugha gS fd chfer dh e`R;q dk dkj.k vfrlkj jgk gksA Qksje ds fu.kZ; dks mfpr Bgjkrs gq, vihy [kkfjt dh xbZA Hkkjrh; thou chek fuxe cuke Jherh es?korh ¼2005 ;w,Mh 81½

ftyk miHkksDrk Qksje us f'kdk;rdrkZ ds vkosnu dks Lohdkj djrs gq, Hkkjrh; thou chek fuxe dks chek jkf'k ds Hkqxrku dk vkns'k fn;kA fuxe }kjk jkT; vk;ksx esa Qksje ds vkns'k dks pqukSrh nh x;hA Jh ekaxsjke us nks o"kZ dh vof/k esa fofo/k frfFk;ksa ij fuxe ls ik¡p ikWfyfl;k¡ yh] ftuesa dqy chek jkf'k :i;s 3]55]000 FkhA nkosnkj dh

ysus dk izek.k miyC/k ugha FkkA jkT; vk;ksx us Qksje ds fu.kZ; ls lgefr O;Dr dhA vk;ksx ds laKku esa ;g Hkh yk;k x;k fd tYnh&tYnh yxkrkj ik¡p ikWfyfl;k¡ ysuk lansg dks LFkku nsrk gSA izhfe;e dk Hkqxrku fu;ksDrk ds ek/;e ls gksrk FkkA vr% cheknkj dHkh fMQkWYVj ugha jgk vkSj ;g dguk fd chek mldh {kerk ls vf/kd Fkk] ;g mfpr ugha gSA ,d gh ,ts.V] ,d gh 'kk[kk dk;kZy; vkSj ,d gh chek dEiuh }kjk vYi vof/k esa fcuk fdlh iwNrkN vFkok LokLF; ijh{k.k ds yxkrkj ikWfyfl;k¡ csph xb±A vr% ,slh fLFkfr esa ckn esa chek dEiuh dk ;g iz'u djuk fd izLrkod jksxxzLr Fkk] mfpr ugha gSA

foe'kZ thou chek esa tksf[ke dk p;u djrs le; izLrko esa fufgr HkkSfrd vkSj uSfrd nksuksa izdkj ds ladVksa dk ewY;kadu fd;k tkrk gS] ;|fi thou chek esa uSfrd ladV rqyukRed :Ik ls de gksrk gS] rFkkfi pkj voljksa ij thou chek esa uSfrd ladV dh lEHkkouk jgrh gS& vf/kd jkf'k dk thou chek( vf/kd vk;q esa thou chek( nwljs O;fDr dk thou chek( efgyk chekA uSfrd ladV ds ijh{k.k esa chek ,ts.V vkSj chek dk;kZy; dh Hkwfedk vge~ gSA ubZ ikWfylh djrs le; izLrkod dh iqjkuh ikWfyfl;ksa dk lanHkZ fy;k tkrk gSA ;gk¡ ,ts.V vkSj chek dEiuh nksuksa dks ;g ns[k ysuk pkfg, fd bl ikWfylh ds ckn /kkjd ds thou esa dqy chek jkf'k fdruh gks tk,xh vkSj ;g mldh foRrh; fLFkfr vkSj {kerk ds vuq:Ik gS vFkok ughaA izLrko ds le; gh cheknkrk }kjk HkkSfrd vkSj uSfrd ladVksa dk leqfpr vkadyu fd;k tkuk pkfg,A ckn esa] nkos ds le; ek= lansg ds vk/kkj ij xgu vUos"k.k mfpr izrhr ugha gksrkA

iRuh us chek nkok izLrqr fd;k] ftls fuxe us bl vk/kkj ij vLohd`r dj fn;k fd cheknkj us chek djkrs le; izLrko i= esa vius th.kZ jDr vfrlkj jksx dk mYys[k ugha fd;kA vr% og lafonk ls lEcfU/kr egRoiw.kZ rF; fNikus dk nks"kh gSA igyh chek ikWfylh fpfdRldh; ijh{k.k ds mijkUr dh x;h Fkh vkSj 'ks"k lHkh ikWfyfl;k¡ fcuk esfMdy ds gqbZ FkhaA chek dEiuh us chek/kkjd ds jksxh gksus lEcU/kh lk{; ds fy, mlds fu;ksDrk] ch,pbZ,y ls mldh NqV~Vh dk fjdkMZ ysdj izLrqr fd;k] ftlesa mikftZr vodk'k vkSj fpfdRlk izek.k&i= ds vk/kkj ij vodk'k dk fooj.k FkkA vk;ksx us vodk'k ij jgus dks jksx xzLrrk dk Ik;kZIr izek.k ugha ekuk D;ksafd deZpkjh izk;% fdlh nwljs iz;kstu ds fy, Hkh jksxh izek.k i= ds vk/kkj ij vodk'k ys ysrs gSaA vfrlkj lkekU;r;k ,slk jksx ugha gS] tks e`R;q dk dkj.k curk gksA lkFk gh] vfHkys[k esa ,slk dksbZ lk{; ugha Fkk] ftlls fuf'pr gksrk gks fd e`R;q dk dkj.k vfrlkj FkkA cheknkj ds mipkj djkus] vLirky esa HkrhZ jgus vFkok fu;ksDrk ls dksbZ fpfdRlk O;;

(eof ^mJ AJbo A§H$ ‘|.....)

statistics - non-life insurance

Report Card: GeneralGROSS PREMIUM UNDERWRITTEN FOR AND UP TO THE MONTH OF MAY, 2010

INSURERMAY APRIL-MAY

2010-11 2009-10* 2009-10*2010-11

GROWTH OVER THECORRESPONDINGPREVIOUS YEAR

Note: Note: Compiled on the basis of data submitted by the Insurance companies.@ Commenced operations in April, 2009.

# Commenced operations in April, 2010* Figures revised by insurance companies.

(Rs.in Crores)

Royal Sundaram 81.16 64.50 171.22 142.66 20.02Tata-AIG 84.38 59.51 245.45 206.95 18.60Reliance General 138.16 169.23 276.80 385.62 -28.22IFFCO-Tokio 124.35 114.59 333.37 284.18 17.31ICICI-lombard 240.95 206.71 728.91 631.37 15.45Bajaj Allianz 225.20 192.35 490.46 424.60 15.51HDFC ERGO General 75.47 46.75 235.92 136.17 73.26Cholamandalam 75.00 62.15 166.59 166.86 -0.16Future Generali 45.15 28.70 115.41 62.49 84.70Universal Sompo 22.03 8.60 50.04 27.24 83.71Shriram General 47.70 17.03 90.22 44.20 104.12Bharti AXA General 36.86 12.49 91.40 28.33 222.60Raheja QBE 0.60 0.00 1.05 0.01 18565.94SBI General# 0.19 0.00 0.41 0.00New India 475.70 416.97 1365.83 1174.00 16.34National 443.65 334.69 979.91 773.46 26.69United India 496.94 410.24 1094.72 893.87 22.47Oriental 380.31 345.27 954.89 836.43 14.16

PRIVATE TOTAL 1197.20 982.61 2996.84 2540.66 17.96

PUBLIC TOTAL 1796.60 1507.17 4395.35 3677.76 19.51

GRAND TOTAL 2993.80 2489.78 7392.19 6218.42 18.88

SPECIALISED INSTITUTIONS:

1. Credit InsuranceECGC 68.29 57.07 133.56 57.07 134.03

2. Health InsuranceStar Health & Allied Insurance 18.16 9.98 222.20 151.16 47.00Apollo MUNICH 12.50 9.57 31.00 14.71 110.71Max BUPA @ 0.68 0.00 1.01 0.00

Health Total 31.35 19.54 253.20 165.87 52.65

3. Agriculture InsuranceAIC 50.60 33.63 96.45 79.45 21.40

Note: 1. Total for 2009-10 is for 12 month Period. 2. Total for 2010-11 is for May, 2010.

Premium underwritten by non-life insurersupto May, 2010

400000

Pre

miu

m (R

s. In

Cro

res)

35000

30000

25000

20000

15000

10000

5000

0

* Excluding ECGC, AIC & Standalone Health Insurers

April

Month

Total

2009-102010-11

# Commenced operations in April, 2010

47

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(eof ^mJ AJbo A§H$ ‘|.....)

statistics - non-life insurance

Report Card: GeneralGROSS PREMIUM UNDERWRITTEN FOR AND UP TO THE MONTH OF MAY, 2010

INSURERMAY APRIL-MAY

2010-11 2009-10* 2009-10*2010-11

GROWTH OVER THECORRESPONDINGPREVIOUS YEAR

Note: Note: Compiled on the basis of data submitted by the Insurance companies.@ Commenced operations in April, 2009.

# Commenced operations in April, 2010* Figures revised by insurance companies.

(Rs.in Crores)

Royal Sundaram 81.16 64.50 171.22 142.66 20.02Tata-AIG 84.38 59.51 245.45 206.95 18.60Reliance General 138.16 169.23 276.80 385.62 -28.22IFFCO-Tokio 124.35 114.59 333.37 284.18 17.31ICICI-lombard 240.95 206.71 728.91 631.37 15.45Bajaj Allianz 225.20 192.35 490.46 424.60 15.51HDFC ERGO General 75.47 46.75 235.92 136.17 73.26Cholamandalam 75.00 62.15 166.59 166.86 -0.16Future Generali 45.15 28.70 115.41 62.49 84.70Universal Sompo 22.03 8.60 50.04 27.24 83.71Shriram General 47.70 17.03 90.22 44.20 104.12Bharti AXA General 36.86 12.49 91.40 28.33 222.60Raheja QBE 0.60 0.00 1.05 0.01 18565.94SBI General# 0.19 0.00 0.41 0.00New India 475.70 416.97 1365.83 1174.00 16.34National 443.65 334.69 979.91 773.46 26.69United India 496.94 410.24 1094.72 893.87 22.47Oriental 380.31 345.27 954.89 836.43 14.16

PRIVATE TOTAL 1197.20 982.61 2996.84 2540.66 17.96

PUBLIC TOTAL 1796.60 1507.17 4395.35 3677.76 19.51

GRAND TOTAL 2993.80 2489.78 7392.19 6218.42 18.88

SPECIALISED INSTITUTIONS:

1. Credit InsuranceECGC 68.29 57.07 133.56 57.07 134.03

2. Health InsuranceStar Health & Allied Insurance 18.16 9.98 222.20 151.16 47.00Apollo MUNICH 12.50 9.57 31.00 14.71 110.71Max BUPA @ 0.68 0.00 1.01 0.00

Health Total 31.35 19.54 253.20 165.87 52.65

3. Agriculture InsuranceAIC 50.60 33.63 96.45 79.45 21.40

Note: 1. Total for 2009-10 is for 12 month Period. 2. Total for 2010-11 is for May, 2010.

Premium underwritten by non-life insurersupto May, 2010

400000

Pre

miu

m (R

s. In

Cro

res)

35000

30000

25000

20000

15000

10000

5000

0

* Excluding ECGC, AIC & Standalone Health Insurers

April

Month

Total

2009-102010-11

# Commenced operations in April, 2010

events

13 – 15 July 2010 International Takaful Summit London By Takaful House PJSC, Dubai

22 – 23 July 2010 4th Asian Conference on Microinsurance Ho Chi Minh City, By Asia Insurance Review, Singapore

Vietnam

15 – 17 July 2010 Reinsurance Management NIA, Pune By National Insurance Academy

19 – 21 July 2010 Rural & Micro-insurance NIA, Pune By National Insurance Academy

25 – 29 July 2010 World Risk and Insurance Economics CongressSingapore By APRIA, Singapore; & others

30 July 2010 De-Bottlenecking the Health Insurance Growth New Delhi By FICCI

02 – 07 Aug 2010 Risk-based Underwriting (Non-life) NIA, Pune By National Insurance Academy

12 – 14 Aug 2010 Financial Risk Insurance NIA, Pune By National Insurance Academy

23 – 25 Aug 2010 Management of Motor Underwriting & Claims (OD) NIA, Pune By National Insurance Academy

30 Aug – 1 Sep 2010 Workshop on Micro-Insurance NIA, Pune By National Insurance Academy

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

round up

48

irda j

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ay

2010

The Insurance Institute of India moved into its own premises at Bandra-Kurla Complex, Mumbai which was

dedicated to the nation by the Hon'ble Finance Minister Shri Pranab Mukherjee,

thon 8 June, 2010

Shri Sharad Shrivastav, Secretary General, Insurance Institute of India proposing a

vote of thanks

A memento being presented to Shri J. Hari Narayan, Chairman, IRDA by

Shri M. Ramadoss, CMD, New India Assurance Co. Ltd. Also seen in the picture are Shri Pranab Mukherjee

and Shri T.S. Vijayan, Chairman, LIC of India

Shri Pranab Mukherjee and Shri Ashok S. Chavan, Chief Minister of Maharashtra engrossed in a conversation

Statistical Supplement(Monthly - April, 2010)

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Bajaj Allianz General Insurance Company Limited

irda

journ

alJuly

2010

50

3479 3478.70 27475 27475 760.64 760.64 49363494.00 49363494.00

2718.06 2718.06 28110 28110 -1018.40 -1018.40 22026146.00 22026146.00

1164 1163.66 13092 13092 287.90 287.90 22346653.00 22346653.00

875.75 875.75 13348 13348 -747.80 -747.80 12310318.00 12310318.00

57.16 57.16 35 35 -13.37 -13.37 559583.00 559583.00

70.53 70.53 150 150 -365.32 -365.32 376633.00 376633.00

1220.82 1220.82 13127 13127 274.53 274.53 22906236.00 22906236.00

946.29 946.29 13498 13498 -1113.12 -1113.12 12686951.00 12686951.00

350.62 350.62 18 18 344.81 344.81 3959829.00 3959829.00

5.81 5.81 16 16 -94.18 -94.18 680914.00 680914.00

793.02 793.02 1291 1291 -31.11 -31.11 7662167.00 7662167.00

824.13 824.13 1387 1387 -861.59 -861.59 10890094.00 10890094.00

9752.42 9752.42 319917 319917 1284.15 1284.15 728710.00 728710.00

8468.27 8468.27 282898 282898 -1370.71 -1370.71 592518.00 592518.00

3576.66 3576.66 336464 336464 -24.84 -24.84

3601.50 3601.50 301126 301126 -139.90 -139.90

13329.08 13329.08 336464 336464 1259.30 1259.30 728710.00 728710.00

12069.77 12069.77 301126 301126 -1510.61 -1510.61 592518.00 592518.00

209.77 209.77 1762 1762 51.25 51.25 32526.00 32526.00

158.52 158.52 1427 1427 -24.76 -24.76 39788.00 39788.00

20.08 20.08 36 36 -2.30 -2.30 44104.00 44104.00

22.38 22.38 46 46 -1.29 -1.29 61709.00 61709.00

253.82 253.82 42 42 153.80 153.80 61814.00 61814.00

100.02 100.02 49 49 -22.08 -22.08 114992.00 114992.00

677.79 677.79 324 324 50.49 50.49 217609.00 217609.00

627.31 627.31 338 338 299.04 299.04 232079.00 232079.00

1161.46 1161.46 2164 2164 253.23 253.23 356053.00 356053.00

908.22 908.22 1860 1860 250.92 250.92 448568.00 448568.00

654.32 654.32 6605 6605 -103.89 -103.89 1808022.00 1808022.00

758.21 758.21 7389 7389 -125.00 -125.00 5527362.00 5527362.00

2377.18 2377.18 57470 57470 -65.77 -65.77 2488167.00 2488167.00

2442.95 2442.95 139509 139509 475.65 475.65 3060993.00 3060993.00

669.27 669.27 55717 55717 225.16 225.16 70541.00 70541.00

444.11 444.11 37961 37961 -406.81 -406.81 11180.00 11180.00

3046.45 3046.45 113187 113187 159.39 159.39 2558708.00 2558708.00

2887.06 2887.06 177470 177470 68.84 68.84 3072173.00 3072173.00

0 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

128.70 128.70 20 20 87.77 87.77 297763.00 297763.00

40.94 40.94 36 36 9.52 9.52 510422.00 510422.00

2362.75 2362.75 32925 32925 296.38 296.38 46502824.00 46502824.00

2066.37 2066.37 48546 48546 4.64 4.64 43097392.00 43097392.00

26525.92 26525.92 533276 533276 3301.05 3301.05 136143806.00 136143806.00

23224.87 23224.87 579438 579438 -4388.98 -4388.98 99532540.00 99532540.00

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

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2010

51

207.95 207.95 3858 3858 0.00 0.00 0.00 0.00

225.00 225.00 2594 2594 0.00 0.00 0.00 0.00

43.83 43.83 768 768 0.00 0.00 0.00 0.00

50.00 50.00 355 355 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

43.83 43.83 768 768 0.00 0.00 0 0 0 0

50.00 50.00 355 355 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

225.21 225.21 161 161 0.00 0.00 0.00 0.00

198.00 198.00 89 89 0.00 0.00 0.00 0.00

90.40 90.40 2900 2900 0.00 0.00 0.00 0.00

143.03 143.03 5239 5239 0.00 0.00 0.00 0.00

1196.24 1196.24 34310 34310 0.00 0.00 0.00 0.00

977.97 977.97 19619 19619 0.00 0.00 0.00 0.00

1286.64 1286.64 34310 34310 0.00 0.00 0 0 0 0

1121.00 1121.00 19619 19619 0.00 0.00 0 0 0 0

30.80 30.80 341 341 0.00 0.00 0.00 0.00

16.40 16.40 170 170 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

141.90 141.90 20 20 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

172.70 172.70 361 361 0.00 0.00 0 0 0 0

16.40 16.40 170 170 0.00 0.00 0 0 0 0

289.52 289.52 181 181 0.31 0.31 2050.00 2050.00

250.00 250.00 3576 3576 1.05 1.05 4200.00 4200.00

56.00 56.00 1313 1313 0.00 0.00 0.00 0.00 80782.00 80782.00

34.00 34.00 850 850 0.00 0.00 0.00 0.00 91554.00 91554.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00 0.00 0.00

56.00 56.00 1313 1313 0.00 0.00 0 0 80782 80782

34.00 34.00 850 850 0.00 0.00 0 0 91554 91554

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

285.13 285.13 10354 10354 0.00 0.00 0.00 0.00

220.00 220.00 10224 10224 0.00 0.00 0.00 0.00

2566.98 2566.98 51306 51306 0.31 0.31 2050 2050 80782 80782

2114.40 2114.40 37477 37477 1.05 1.05 4200 4200 91554 91554

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Bharti Axa General Insurance Company Ltd

irda

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2010

52

1545.11 1545.11 709 709 1545.11 1545.11 2789996.06 2789996.06

539.62 539.62 326 326 539.62 539.62 329609.29 329609.29

233.41 233.41 149 149 233.41 233.41 921321.19 921321.19

30.29 30.29 76 76 30.29 30.29 118322.72 118322.72

0.00 0.00

233.41 233.41 149 149 233.41 233.41 921321.19 921321.19

30.29 30.29 76 76 30.29 30.29 118322.72 118322.72

0.00 0.00

0.00 0.00

99.66 99.66 103 103 99.66 99.66 405827.47 405827.47

216.09 216.09 85 85 216.09 216.09 566212.59 566212.59

1928.77 1928.77 27400 27400 1928.77 1928.77 96411.53 96411.53

481.12 481.12 5697 5697 481.12 481.12 40714.87 40714.87

359.62 359.62 27400 27400 359.62 359.62

117.56 117.56 5697 5697 117.56 117.56

2288.40 2288.40 27400 27400 2288.40 2288.40 96411.53 96411.53

598.68 598.68 5697 5697 598.68 598.68 40714.87 40714.87

21 21 132 132 21.37 21.37 3888 3888

10 9.80 72 72 9.80 9.80 1343 1343.12

0.00 0.00

0.00 0.00

14 14 19 19 13.58 13.58 3633 3633

2 1.84 14 14 1.84 1.84 1372 1371.50

34.95 34.95 151 151 34.95 34.95 7520.77 7520.77

11.64 11.64 86 86 11.64 11.64 2714.62 2714.62

360.28 360.28 940 940 360.28 360.28 1753925.90 1753925.90

99.35 99.35 302 302 99.35 99.35 535895.85 535895.85

679.88 679.88 807 807 679.88 679.88 4069.30 4069.30

80.03 80.03 271 271 80.03 80.03 1096.98 1096.98

0.00 0.00

679.88 679.88 807 807 679.88 679.88 4069.30 4069.30

80.03 80.03 271 271 80.03 80.03 1096.98 1096.98

0.00 0.00

0.00 0.00

24.12 24.12 326 326 24.12 24.12 54023.57 54023.57

17.14 17.14 191 191 17.14 17.14 92930.60 92930.60

5265.80 5265.80 30585 30585 5265.80 5265.80 6033095.78 6033095.78

1592.84 1592.84 7034 7034 1592.84 1592.84 1687497.54 1687497.54

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

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2010

53

0.08 0.08 1 1

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

24.08 24.08 878 878

11.64 11.64

35.72 35.72 878 878 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

23.86 23.86 25 25

0.90 0.90 3 3

0.90 0.90 3 3 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.40 0.40 9 9

60.96 60.96 916 916 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Cholamandalam Ms General Insurance Company Ltd

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2010

54

1,447.60 1,447.60 6,953 6,953 (292.77) (292.77) 4,433,506 4,433,506

1,740.38 1,740.38 1,190 1,190 128.01 128.01 4,555,207 4,555,207

509.08 509.08 870 870 (16.36) (16.36) 1,885,380 1,885,380

525.44 525.44 792 792 94.04 94.04 1,934,325 1,934,325

- - - - (2.61) (2.61) -

2.61 2.61 - - 2.61 2.61 2,818 2,818

509.08 509.08 870 870 (18.97) (18.97) 1,885,380 1,885,380

528.05 528.05 792 792 96.65 96.65 1,937,143 1,937,143

- - - - - - - -

- - - - - - - -

292.40 292.40 524 524 44.94 44.94 347,172 347,172

247.46 247.46 271 271 (138.54) (138.54) 432,136 432,136

3,057.32 3,057.32 55,402 55,402 320.82 320.82 178,223 178,223

2,736.50 2,736.50 41,679 41,679 430.21 430.21 121,069 857,716

1,341.70 1,341.70 - - 528.45 528.45 - -

813.25 813.25 - - 278.81 278.81 - -

4,399.02 4,399.02 55,402 55,402 849.27 849.27 178,223 178,223

3,549.75 3,549.75 41,679 41,679 709.02 709.02 124,038 124,038

41.90 41.90 198 198 (5.23) (5.23) 5,369 5,369

47.13 47.13 177 177 (29.66) (29.66) 17,897 17,897

132.26 132.26 207 207 (19.54) (19.54) 70,522 70,522

151.80 151.80 275 275 11.30 11.30 38,780 38,780

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

174.16 174.16 405 405 (24.77) (24.77) 75,891 75,891

198.93 198.93 452 452 (18.35) (18.35) 56,676 56,676

322.98 322.98 1,483 1,483 (27.30) (27.30) 299,802 299,802

350.29 350.29 1,048 1,048 56.54 56.54 118,205 118,205

1,736.95 1,736.95 2,207 2,207 (1,407.35) (1,407.35) 73,063 73,063

3,144.30 3,144.30 1,986 1,986 19.11 19.11 106,554 106,554

- - - - - - - -

- - - - - - - -

1,736.95 1,736.95 2,207 2,207 (1,407.35) (1,407.35) 73,063 73,063

3,144.30 3,144.30 1,986 1,986 19.11 19.11 106,554 106,554

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

276.52 276.52 12,057 12,057 (435.34) (435.34) 641,352 641,352

711.86 711.86 6,394 6,394 114.47 114.47 554,501 554,501

9,158.73 9,158.73 79,901 79,901 (1,312.28) (1,312.28) 7,934,388 7,934,388

10,471.01 10,471.01 53,812 53,812 966.91 966.91 7,884,460 7,884,460

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

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2010

55

- - -

0.21 0.21 1 1 459.40 459.40 - -

- - - - -

- - - - - -

- - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - -

- - 54.92 54.92 - -

162.99 162.99 2407 2407 - - - -

129.79 129.79 1917 1917 - - - -

- - - - - -

- - - - - -

162.99 162.99 2407 2407 - - - -

129.79 129.79 1917 1917 - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - -

- - - -

782.97 782.97 - 547,470 547,470

129.00 129.00 1 1 - -

- - - - - -

- - - - - -

782.97 782.97 - - 547,470 547,470 - -

129.00 129.00 1 1 - - - - - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

- - -

0.40 0.40 2 2 169.96 169.96 - -

945.97 945.97 2,407 2,407 - - 547,470 547,470 - -

259.40 259.40 1,921 1,921 684.28 684.28 - - - -

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Future General India Insurance Co. Ltd.

1553.44 1553.44 994 994 1030.27 1030.27

523.17 523.17 535 535 360.57 360.57

448.70 448.70 2144 2144 314.59 314.59

134.11 134.11 1151 1151 101.63 101.63

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

448.70 448.70 2144 2144 314.59 314.59

134.11 134.11 1151 1151 101.63 101.63

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

252.33 252.33 263 263 65.72 65.72

186.61 186.61 130 130 174.53 174.53

1635.10 1635.10 37596 37596 728.49 728.49

906.60 906.60 26436 26436 768.81 768.81

633.91 633.91 9 9 302.72 302.72

331.19 331.19 26436 26436 309.39 309.39

2269.01 2269.01 37596 37596 1031.21 1031.21

1237.79 1237.79 26436 26436 1078.20 1078.20

57.25 57.25 300 300 37.43 37.43

19.82 19.82 153 153 18 18

0.00 0.00 0 0 -1.08 -1.08

1.08 1.08 17 17 1 1

79.07 79.07 95 95 50.18 50.18

28.89 28.89 29 29 28 28

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0

136.32 136.32 395 395 86.53 86.53

49.79 49.79 199 199 46.41 46.41

249.90 249.90 1303 1303 36.65 36.65

213.25 213.25 146 146 -431.69 -431.69

1821.88 1821.88 641 641 953.90 953.90

867.98 867.98 1056 1056 867.98 867.98

91.08 91.08 6055 6055 91.08 91.08

0.00 0.00 0 0 0.00 0.00

1912.96 1912.96 6696 6696 1044.97 1044.97

867.98 867.98 1056 1056 867.98 867.98

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

203.72 203.72 9751 9751 37.51 37.51

166.21 166.21 6211 6211 144.21 144.21

7026.38 7026.38 59142 59142 3647.46 3647.46

3378.92 3378.92 35864 35864 2341.84 2341.84

irda

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2010

56

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

109.90 109.90 130 130

5.62 5.62 39 39

60.07 60.07 120 120

11.31 11.31 86 86

60.07 60.07 120 120 0.00 0.00 0 0

11.31 11.31 86 86 0.00 0.00 0 0

23.03 23.03 24 24

0.55 0.55 7 7

120.58 120.58 4067 4067

51.68 51.68 -

112.09 112.09 2783 2783

172.26 172.26 4067 4067 0.00 0.00 0 0

112.09 112.09 2783 2783 0.00 0.00 0 0

5.27 5.27 22 22

1.94 1.94 15 15

5.27 5.27 22 22 0.00 0.00 0 0

1.94 1.94 15 15 0.00 0.00 0 0

21.32 21.32 50 50

33.32 33.32 24 24

135.86 135.86 65 65

33.32 33.32 74 24 0.00 0.00 0 0 0 0

135.86 135.86 65 65 0.00 0.00 0 0 0 0

51.92 51.92 9137 9137

17.11 17.11 2101 2101

477.10 477.10 13574 13574 0.00 0.00 0 0 0 0

284.47 284.47 5096 5096 0.00 0.00 0 0 0 0

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2010

57

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: HDFC ERGO General Insurance Company Ltd

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2010

58

4,134.67 4,134.67 2,125 2,125 2,222.42 2,222.42 21,480,697 21,480,697

1,912.25 1,912.25 142 142 1,827.97 1,827.97 4,155,124 4,155,124

458.11 458.11 115 115 237.07 237.07 1,789,609 1,789,609

221.04 221.04 62 62 184.24 184.24 676,226 676,226

157.16 157.16 65 65 (59.57) (59.57) 46,503 46,503

216.74 216.74 5 5 216.74 216.74 2,669 2,669

615.27 615.27 180 180 177.49 177.49 1,836,112 1,836,112

437.78 437.78 67 67 400.98 400.98 678,895 678,895

699.18 699.18 2 2 652.34 652.34 89,021 89,021

46.84 46.84 - - 46.84 46.84 - -

1,253.80 1,253.80 172 172 963.01 963.01 1,268,693 1,268,693

290.80 290.80 42 42 259.44 259.44 223,560 223,560

1,479.66 1,479.66 24,265 24,265 431.15 431.15 101,753 101,753

1,048.51 1,048.51 27,294 27,294 318.43 318.43 61,043 61,043

669.66 669.66 35,975 35,975 139.41 139.41

530.25 530.25 27,294 27,294 436.01 436.01

2,149.32 2,149.32 35,975 35,975 570.57 570.57 101,753 101,753

1,578.75 1,578.75 27,294 27,294 754.44 754.44 61,043 61,043

29.40 29.40 15 15 (5.68) (5.68) 15,908 15,908

35.08 35.08 32 32 34.29 34.29 26,605 26,605

11.46 11.46 14 14 (20.45) (20.45) 17,700 17,700

31.92 31.92 23 23 29.04 29.04 11,021 11,021

8.12 8.12 5 5 2.22 2.22 3,475 3,475

5.89 5.89 4 4 5.89 5.89 3,000 3,000

1,701.26 1,701.26 85 85 498.20 498.20 312,223 312,223

1,203.06 1,203.06 68 68 953.65 953.65 154,098 154,098

1,750.24 1,750.24 119 119 474.29 474.29 349,307 349,307

1,275.95 1,275.95 127 127 1,022.87 1,022.87 194,724 194,724

1,067.75 1,067.75 50,219 50,219 662.51 662.51 119,689 119,689

405.24 405.24 389 389 335.41 335.41 1,721,082 1,721,082

4,254.39 4,254.39 20,330 20,330 2,132.65 2,132.65 106,471 106,471

2,121.74 2,121.74 399 399 2,094.78 2,094.78 100,038 100,038

69.86 69.86 531 531 16.56 16.56 811,251 811,251

53.30 53.30 299 299 (17.34) (17.34) 795,825 795,825

4,324.25 4,324.25 20,861 20,861 2,149.21 2,149.21 917,723 917,723

2,175.04 2,175.04 698 698 2,077.44 2,077.44 895,863 895,863

- - - -

- - - - - - - -

- - - -

- - - - - - - -

50.89 50.89 994 994 (767.91) (767.91) 20,412 20,412

818.80 818.80 623 623 754.70 754.70 1,061,268 1,061,268

16,045.37 16,045.37 110,647 110,647 7,103.93 7,103.93 26,183,406 26,183,406

8,941.44 8,941.44 29,382 29,382 7,480.10 7,480.10 8,991,559 8,991,559

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

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2010

59

364.25 364.25 129 129 -

- - - - - - - -

42.23 42.23 11 11 -

- - - - - - - -

- - - - - -

- - - - - - - -

42.23 42.23 11 11 - - - - - -

- - - - - - - - - -

- - - - -

- - - - - - - -

28.30 28.30 26 26 -

- - - - - - - -

123.50 123.50 2,056 2,056 -

88.37 88.37 2,697 2,697 - - - -

85.09 85.09 4,395 4,395 -

- - - - - - - -

208.59 208.59 4,395 4,395 - - - - - -

88.37 88.37 2,697 2,697 - - - - - -

3.94 3.94 2 2 -

- - - - - - - -

- - - - -

- - - - - - - -

- - - - -

- - - - - - - -

8.13 8.13 2 2 -

- - - - - - - -

12.06 12.06 4 4 - - - - - -

- - - - - - - - - -

32.73 32.73 2,283 2,283 - -

- - - - - - - -

1,110.71 1,110.71 388 388 4.78 4.78 5,262 5,262 119,533 119,533

- - - - - - - - 94,723 94,723

0.87 0.87 20 20 - 7,697 7,697

- - - - - - - - 6,735 6,735

1,111.58 1,111.58 408 408 4.78 4.78 5,262 5,262 127,230 127,230

- - - - - - - - 101,458 101,458

- - - - -

- - - - - - - -

- - - - -

- - - - - - - -

5.26 5.26 402 402 -

3.30 3.30 15 15 - - - -

1,805.00 1,805.00 9,714 9,714 5 5 5,262 5,262 127,230 127,230

91.67 91.67 2,712 2,712 - - - - 101,458 101,458

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: ICICI Lombard General Insurance Company Ltd

7,943.91 7,943.91 2,222 2,222 (959.19) (959.19) 15,060,963 15,060,963

8,903.10 8,903.10 3,034 3,034 531.56 531.56 12,143,830 12,143,830

2,209.62 2,209.62 914 914 (18.36) (18.36) 10,776,926 10,776,926

2,227.98 2,227.98 742 742 246.61 246.61 8,612,335 8,612,335

872.70 872.70 117 117 (376.14) (376.14) 871,249 871,249

1,248.84 1,248.84 97 97 (3,426.03) (3,426.03) 634,252 634,252

3082.32 3082.32 1031 1031 -394.50 -394.50 11648175.95 11648175.95

3476.82 3476.82 839 839 -3179.41 -3179.41 9246587.28 9246587.28

1,584.72 1,584.72 17 17 274.80 274.80 1,229,979 1,229,979

1,309.92 1,309.92 20 20 849.38 849.38 474,961 474,961

2,997.60 2,997.60 603 603 146.18 146.18 3,798,206 3,798,206

2,851.42 2,851.42 553 553 (657.58) (657.58) 3,287,032 3,287,032

8,065.43 8,065.43 248,014 248,014 885.52 885.52 985,628 985,628

7,179.91 7,179.91 219,921 219,921 (11.87) (11.87) 1,042,182 1,042,182

3,091.06 3,091.06 262,317 262,317 (229.73) (229.73)

3,320.79 3,320.79 244,844 244,844 120.79 120.79

11156.49 11156.49 262317 262317 655.79 655.79 985628.44 985628.44

10500.70 10500.70 244844 244844 108.93 108.93 1042181.80 1042181.80

192.27 192.27 493 493 46.18 46.18 40,539 40,539

146.10 146.10 198 198 (93.45) (93.45) 23,207 23,207

20.50 20.50 33 33 5.44 5.44 5,057 5,057

15.06 15.06 23 23 (0.83) (0.83) 30,230 30,230

19.74 19.74 7 7 (3.27) (3.27) 5,647 5,647

23.01 23.01 7 7 (4.77) (4.77) 4,951 4,951

1,580.32 1,580.32 197 197 (7.05) (7.05) 231,039 231,039

1,587.37 1,587.37 202 202 (368.68) (368.68) 192,583 192,583

1812.83 1812.83 730 730 41.29 41.29 282282.77 282282.77

1771.54 1771.54 430 430 -467.74 -467.74 250970.45 250970.45

1,532.37 1,532.37 16,464 16,464 (863.46) (863.46) 5,098,777 5,098,777

2,395.83 2,395.83 14,028 14,028 1,007.69 1,007.69 3,503,816 3,503,816

16,217.53 16,217.53 22,519 22,519 6,772.81 6,772.81 1,277,642 1,277,642

9,444.72 9,444.72 29,906 29,906 (9,332.68) (9,332.68) 741,675 741,675

531.58 531.58 40,377 40,377 55.28 55.28 895,691 895,691

476.31 476.31 24,893 24,893 (9.40) (9.40) 1,027,533.91 1,027,534

16749.11 16749.11 62896 62896 6828.08 6828.08 2173333.16 2173333.16

9921.03 9921.03 54799 54799 -9342.08 -9342.08 1769208.73 1769208.73

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

275.88 275.88 5 5 44.93 44.93 4,368 4,368

230.95 230.95 6 6 (9.60) (9.60) 2,369 2,369

1,660.71 1,660.71 11,278 11,278 555.80 555.80 1,290,379 1,290,379

1,104.91 1,104.91 7,521 7,521 (702.86) (702.86) 1,325,221 1,325,221

48795.94 48795.94 357563 357563 6329.72 6329.72 41572092.18 41572092.18

42466.22 42466.22 326074 326074 -11861.71 -11861.71 33046176.93 33046176.93

irda

journ

alJuly

2010

60

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

- 0.00 - - - 0.00 - -

3.69 3.69 3 3 0.00 0.00 - -

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

2.61 2.61 17 17 - 0.00 - -

6.12 6.12 43 43 0.00 0.00 - -

863.89 863.89 - - - 0.00 - -

655.87 655.87 14,720 14,720 0.00 0.00 - -

575.01 575.01 27,843 27,843 - 0.00 - -

486.81 486.81 19,334 19,334 0.00 0.00 - -

1438.90 1438.90 27843 27843 0.00 0.00 0 0 0 0

1142.69 1142.69 19334 19334 0.00 0.00 0 0 0 0

0.00 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

- 0.00 - - - 0.00 - -

0.00 0.00 - - 0.00 0.00 - -

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 - - - 0.00 - -

964.83 964.83 7 7 0.00 0.00 - -

2428.22 2,428.22 632 632 0.00 0.00 - - 2,778,701 2,778,701

1,784.37 1,784.37 558 558 31.52 31.52 25,971 25,971 1,345,651 1,345,651

32.45 32.45 719 719 - 0.00 - - 40,377 40,377

30.03 30.03 1,584 1,584 0.00 0.00 - - 24,893 24,893

2460.67 2460.67 1351 1351 0.00 0.00 0 0 2819078 2819078

1814.40 1814.40 2142 2142 31.52 31.52 25971 25971 1370544 1370544

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

4 4 86 86 - - - -

149 149 132 132 - - - -

3906.44 3906.44 29297 29297 0.00 0.00 0 0 2819078 2819078

4080.84 4080.84 21661 21661 31.52 31.52 25971 25971 1370544 1370544

irda

journ

alJuly

2010

61

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Iffco Tokio General Insurance Co Ltd

7358.01 7358.01 6426 6426 7358.01 7358.01 38923353.06 38923353.06

6854.00 6854.00 6259 6259 6854.00 6854.00 36257197.15 36257197.15

949.09 949.09 740 740 949.09 949.09 6887261.04 6887261.04

729.65 729.65 751 751 729.65 729.65 5294894.46 5294894.46

1530.57 1530.57 52 52 1530.57 1530.57 9931939.84 9931939.84

744.07 744.07 10 10 744.07 744.07 4828319.99 4828319.99

2479.65 2479.65 792 792 2479.65 2479.65 16819200.89 16819200.89

1473.72 1473.72 761 761 1473.72 1473.72 10123214.45 10123214.45

546.20 546.20 19 19 546.20 546.20 3610909.08 3610909.08

126.36 126.36 16 16 126.36 126.36 835396.14 835396.14

573.79 573.79 380 380 573.79 573.79 47375.18 47375.18

478.74 478.74 408 408 478.74 478.74 39527.29 39527.29

4158.17 4158.17 269763 269763 4158.17 4158.17 169214.35 169214.35

3440.19 3440.19 224631 224631 3440.19 3440.19 139996.43 139996.43

2165.00 2165.00 5216 5216 2165.00 2165.00

1385.76 1385.76 4292 4292 1385.76 1385.76

6323.17 6323.17 269763 269763 6323.17 6323.17 169214.35 169214.35

4825.95 4825.95 224631 224631 4825.95 4825.95 139996.43 139996.43

99.09 99.09 826 826 99.09 99.09 6177.98 6177.98

91 91 684 684 91 91.18 5684 5684

239.02 239.02 39 39 239.02 239.02 1136620.59 1136620.59

47 47 13 13 47 46.99 223464 223464

32.36 32.36 19 19 32.36 32.36 17540.01 17540.01

3 3 1 1 3 2.93 1590 1590

1000.00 1000.00 218 218 1000.00 1000.00 967227.19 967227.19

915 915 260 260 915 915.29 885288 885288

1370.47 1370.47 1102 1102 1370.47 1370.47 2127565.77 2127565.77

1056.39 1056.39 958 958 1056.39 1056.39 1116026.15 1116026.15

154.07 154.07 3391 3391 154.07 154.07 330317.94 330317.94

134.57 134.57 2374 2374 134.57 134.57 288505.27 288505.27

1180.70 1180.70 2246 2246 1180.70 1180.70 49821.47 49821.47

1443.52 1443.52 3144 3144 1443.52 1443.52 60911.60 60911.60

19.18 19.18 1573 1573 19.18 19.18 3190.87 3190.87

23.93 23.93 1559 1559 23.93 23.93 4384.21 4384.21

1199.88 1199.88 3819 3819 1199.88 1199.88 53012.34 53012.34

1467.45 1467.45 4703 4703 1467.45 1467.45 65295.81 65295.81

896.15 896.15 7150 7150 896.15 896.15 665333.23 665333.23

541.73 541.73 13731 13731 541.73 541.73 402199.68 402199.68

20901.38 20901.38 292842 292842 20901.38 20901.38 62746281.84 62746281.84

16958.91 16958.91 253841 253841 16958.91 16958.91 49267358.38 49267358.38

irda

journ

alJuly

2010

62

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

25.59 25.59 659 659

48.44 48.44 1038 1038

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

2.94 2.94 9 9

599.95 599.95 32364 32364

298.57 298.57 0 0

898.52 898.52 32364 32364 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

1 1 23 23

0 0 1 1

0 0 11 11

1.13 1.13 35 35 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

26.17 26.17 953 953 1.46 1.46 29223 29223

1794.40 1794.40 40 40

1794.40 1794.40 40 40 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

41.33 41.33 2243 2243 0.52 0.52 866 866

861.83 861.83 45500 45500 7.29 7.29 42726 42726

2790.08 2790.08 36303 36303 1.98 1.98 30089 30089 0 0

910.27 910.27 46538 46538 7.29 7.29 42726 42726 0 0

irda

journ

alJuly

2010

63

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: National Insurance Company Limited

6751.35 6751.35 72469 72469 1352.12 1352.12

5399.23 5399.23 59627 59627 -571.62 -571.62

1796.79 1796.79 24318 24318 120.43 120.43

1676.36 1676.36 22108 22108 91.86 91.86

625.80 625.80 296 296 269.73 269.73

356.07 356.07 285 285 51.87 51.87

2422.59 2422.59 24614 24614 390.16 390.16 0.00 0.00

2032.43 2032.43 22393 22393 143.73 143.73 0.00 0.00

409.83 409.83 18 18 -136.21 -136.21

546.04 546.04 21 21 251.84 251.84

1882.38 1882.38 7643 7643 480.31 480.31

1402.07 1402.07 6089 6089 -28.56 -28.56

12865.24 12865.24 295416 295416 1627.13 1627.13

11238.11 11238.11 265712 265712 -1669.91 -1669.91

7639.45 7639.45 134769 134769 882.70 882.70

6756.75 6756.75 122416 122416 -506.18 -506.18

20504.69 20504.69 295416 295416 2509.83 2509.83 0.00 0.00

17994.86 17994.86 265712 265712 -2176.09 -2176.09 0.00 0.00

376.43 376.43 5976 5976 82.84 82.84

293.59 293.59 4385 4385 4.13 4.13

186.49 186.49 1263 1263 88.42 88.42

98.07 98.07 1099 1099 18.79 18.79

139.65 139.65 86 86 46.23 46.23

93.42 93.42 52 52 28.13 28.13

147.25 147.25 1139 1139 46.72 46.72

100.53 100.53 867 867 -105.06 -105.06

849.82 849.82 8464 8464 264.21 264.21 0.00 0.00

585.61 585.61 6403 6403 -54.01 -54.01 0.00 0.00

1264.64 1264.64 43691 43691 124.25 124.25

1140.39 1140.39 40281 40281 322.92 322.92

14885.78 14885.78 86573 86573 4268.93 4268.93

10616.85 10616.85 68042 68042 -74.94 -74.94

72.96 72.96 1629 1629 3.94 3.94

69.02 69.02 1502 1502 -6.17 -6.17

14958.74 14958.74 88202 88202 4272.87 4272.87 0.00 0.00

10685.87 10685.87 69544 69544 -81.11 -81.11 0.00 0.00

0.00 0 0.00

0.00 0 0.00

0.00 0 0.00

0.00 0 0.00

4581.96 4581.96 264139 264139 491.45 491.45

4090.51 4090.51 238057 238057 422.97 422.97

53626.00 53626.00 939425 939425 9748.99 9748.99 0.00 0.00

43877.01 43877.01 830543 830543 -1769.93 -1769.93 0.00 0.00

irda

journ

alJuly

2010

64

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

314.03 314.03 7129 7129 168.29 168.29

285.16 285.16 6057 6057 175.07 175.07

27.86 27.86 497 497 12.43 12.43

28.09 28.09 586 586 24.31 24.31

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

27.86 27.86 497 497 12.43 12.43

28.09 28.09 586 586 24.31 24.31

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

31.45 31.45 346 346 17.39 17.39

42.71 42.71 398 398 20.16 20.16

1136.19 1136.19 43517 43517 529.76 529.76

1012.51 1012.51 40361 40361 419.82 419.82

786.02 786.02 24561 24561 364.99 364.99

675.29 675.29 21741 21741 299.46 299.46

1922.21 1922.21 43517 43517 894.75 894.75

1687.80 1687.80 40361 40361 719.28 719.28

25.33 25.33 297 297 6.00 6.00 72 72

23.51 23.51 234 234 7.33 7.33 86 86

0.00 0.00 0 0 0.00 0.00 0

0.00 0.00 0 0 0.00 0.00 0

0.00 0.00 0 0 0.00 0.00 0

0.00 0.00 0 0 0.00 0.00 0

2.00 2.00 86 86 1.03 1.03 0

1.09 1.09 57 57 0.98 0.98 0

27.33 27.33 383 383 7.03 7.03 72 72

24.60 24.60 291 291 8.31 8.31 86 86

48.37 48.37 5247 5247 62.49 62.49 31429 31429

35.46 35.46 4129 4129 45.73 45.73 26873 26873

186.43 186.43 8943 8943 333.17 333.17 43216 43216

113.63 113.63 6378 6378 217.86 217.86 15609 15609

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

186.43 186.43 8943 8943 333.17 333.17 43216 43216

113.63 113.63 6378 6378 217.86 217.86 15609 15609

0.00 0 0.00 0

0.00 0 0.00 0

0.00 0 0.00 0

0.00 0 0.00 0

719.64 719.64 39467 39467 471.38 471.38 18431 18431

628.94 628.94 35471 35471 385.48 385.48 15431 15431

3277.32 3277.32 130090 130090 1966.93 1966.93 93148 93148

2846.39 2846.39 115412 115412 1596.20 1596.20 57999 57999

irda

journ

alJuly

2010

65

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Raheja QBE General Insurance Company Limited

irda

journ

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2010

66

1.23 1.23 8 8 1.23 1.23 2023.14 2023.14

0.01 0.01 2 2 0.01 0.01 30.00 30.00

0.04 0.04 1 1 0.04 0.04 78.67 78.67

0.00 0.00 0.00 0 0.00 0.00 0.00 0.00

0.04 0.04 1 1 0.04 0.04 78.67 78.67

0.00 0.00 0 0 0.00 0.00 0.00 0.00

1.44 1.44 2 2 1.44 1.44 864.86 864.86

0.64 0.64 10 10 0.64 0.64 104.36 104.36

0.54 0.54 38 38 0.54 0.54 0.00 0.00

1.18 1.18 38 38 1.18 1.18 104.36 104.36

0.00 0.00 0 0 0.00 0.00 0.00 0.00

1.95 1.95 1 1 1.95 1.95 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0 0

0.71 0.71 1 1 0.71 0.71 1500 1500

0.00 0.00 0 0 0.00 0.00 0 0

31.56 31.56 6 6 31.56 31.56 15403 15403

0.00 0.00 0 0 0.00 0.00 0 0

34.23 34.23 8 8 34.23 34.23 16902.50 16902.50

0.00 0.00 0 0 0.00 0.00 0.00 0.00

6.94 6.94 6 6 6.94 6.94 6427.50 6427.50

0.08 0.08 4 4 0.08 0.08 57.50 57.50

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.11 0.11 4 4 0.11 0.11 332.98 332.98

0 0 0.00 0.00 0.00 0.00

45.17 45.17 67 67 45.17 45.17 26734.01 26734.01

0.10 0.10 6 6 0.10 0.10 87.50 87.50

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

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2010

67

0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Reliance General Insurance Company Limited

2260.36 2260.36 2736.00 2736.00 -1928.91 -1928.91 3207760.95 3207760.95

4189.26 4189.26 2640.00 2640.00 1779.63 1779.63 8802843.88 8802843.88

399.03 399.03 860.00 860.00 -72.31 -72.31 1389926.22 1389926.22

471.33 471.33 1162.00 1162.00 3.62 3.62 2803451.25 2803451.25

18.10 18.10 0.00 0.00 -22.43 -22.43 0.00 0.00

40.52 40.52 23.00 23.00 -96.90 -96.90 7289.58 7289.58

417.13 417.13 860 860 -94.73 -94.73 1389926.22 1389926.22

511.86 511.86 1185 1185 -93.28 -93.28 2810740.82 2810740.82

1668.26 1668.26 2.00 2.00 1594.22 1594.22 110.00 110.00

74.04 74.04 18.00 18.00 -49.65 -49.65 153467.12 153467.12

-1204.41 -1204.41 350.00 350.00 -2176.14 -2176.14 1052355.49 1052355.49

971.73 971.73 508 508 -5.32 -5.32 1169981.72 1169981.72

4373.40 4373.40 108927 108927 -3860.87 -3860.87 283612.45 283612.45

8234.27 8234.27 168669 168669 -622.35 -622.35 494492.11 494492.11

2130.49 2130.49 114390 114390 -1528.19 -1528.19

3658.68 3658.68 180294 180294 293.48 293.48

6503.90 6503.90 114390 114390 -5389.06 -5389.06 283612.45 283612.45

11892.95 11892.95 180294 180294 -328.87 -328.87 494492.11 494492.11

43.44 43.44 201 201 -42.63 -42.63 6434.67 6434.67

86.07 86.07 423 423 -33.20 -33.20 14648.85 14648.85

32.56 32.56 46 46 -3.44 -3.44 24417.00 24417.00

36.00 36.00 58 58 -4.43 -4.43 19184.75 19184.75

0.00 0.00 0 0 -0.75 -0.75 0.00 0.00

0.75 0.75 1 1 -1.03 -1.03 75.00 75.00

71.48 71.48 108 108 -15.46 -15.46 7749.00 7749.00

86.95 86.95 47 47 -13.25 -13.25 15777.50 15777.50

147.48 147.48 355 355 -62.28 -62.28 38600.67 38600.67

209.76 209.76 529 529 -51.91 -51.91 49686.10 49686.10

381.26 381.26 7923 7923 -197.82 -197.82 1213308.11 1213308.11

579.08 579.08 13330 13330 -1677.46 -1677.46 1692423.70 1692423.70

2920.04 2920.04 76896 76896 550.21 550.21 68949.07 68949.07

2369.83 2369.83 32573 32573 -4468.25 -4468.25 75266.11 75266.11

324.31 324.31 47905 47905 6.29 6.29 2218753.12 2218753.12

318.02 318.02 49474 49474 21.77 21.77 436795.11 436795.11

3244.35 3244.35 124801 124801 556.50 556.50 2287702.20 2287702.20

2687.85 2687.85 82047 82047 -4446.48 -4446.48 512061.22 512061.22

0 0 0 0 0.00 0.00 0.00 0.00

0 0 0 0 0.00 0.00 0.00 0.00

0 0 0 0 0.00 0.00 0 0

0 0 0 0 0.00 0.00 0 0

445.14 445.14 4511 4511 -76.60 -76.60 785336.77 785336.77

521.75 521.75 5360 5360 -882.72 -882.72 1415899.02 1415899.02

13863.46 13863.46 255928 255928 -7774.82 -7774.82 10258712.85 10258712.85

21638.28 21638.28 285911 285911 -5756.05 -5756.05 17101595.69 17101595.69

irda

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2010

68

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

175.52 175.52 72 72

436.78 436.78 105 105

2.83 2.83 14 14

0.00 0.00 0 0

0.00 0.00 0 0

0.00 0.00 0 0

2.83 2.83 14 14 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0

0.00 0.00 0 0

51.43 51.43 23 23

7.66 7.66 26 26

372.46 372.46 8822 8822

862.78 862.78 16153 16153

203.98 203.98 392 392

436.62 436.62 739 739

576.45 576.45 8822 8822 0.00 0.00 0 0 0 0

1299.40 1299.40 16153 16153 0.00 0.00 0 0 0 0

1.36 1.36 10 10

0.00 0.00 0 0

0.24 0.24 1 1

0.00 0.00 0 0

0.00 0.00 0 0

0.00 0.00 0 0

0.07 0.07 8 8

0.00 0.00 0 0

1.67 1.67 19 19 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

13.91 13.91 979 979 21.98 21.98 183141.00 183141.00

77.52 77.52 196 196 75.92 75.92 647.00 647.00

1058.19 1058.19 924 924

31.32 31.32 852 852

13.51 13.51 3417 3417

0.00 0.00 0 0

1071.70 1071.70 4341 4341 0.00 0.00 0 0 0 0

31.32 31.32 852 852 0.00 0.00 0 0 0 0

0.00 0.00 0 0

0.00 0.00 0 0

0 0 0 0

0 0 0 0

12.33 12.33 308 308 22.38 22.38 4311.00 4311.00

12.47 12.47 270 270 7.17 7.17 1121.00 1121.00

1905.83 1905.83 14578 14578 44.36 44.36 187452 187452 0 0

1865.16 1865.16 17602 17602 83.09 83.09 1768 1768 0 0

irda

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2010

69

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Royal Sundaram Alliance Insurance Company Limited

978.86 978.86 2729 2729 -120.66 -120.66 2445296.17 2445296.17

1099.52 1099.52 4163 4163 -598.59 -598.59 1930894.80 1930894.80

178.46 178.46 4669 4669 -8.59 -8.59 587929.05 587929.05

187.04 187.04 1938 1938 -59.17 -59.17 526274.25 526274.25

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

178.46 178.46 4669 4669 -8.59 -8.59 587929.05 587929.05

187.04 187.04 1938 1938 -59.17 -59.17 526274.25 526274.25

365.05 365.05 186 186 -64.81 -64.81 123298.69 123298.69

429.86 429.86 300 300 -117.71 -117.71 110214.22 110214.22

4061.29 4061.29 60332 60332 706.65 706.65 222138.40 222138.40

3354.64 3354.64 51327 51327 704.91 704.91 178087.66 178087.66

1159.01 1159.01 667 667 216.65 216.65

942.36 942.36 741 741 270.19 270.19

5220.30 5220.30 60332 60332 923.30 923.30 222138.40 222138.40

4297.00 4297.00 51327 51327 975.10 975.10 178087.66 178087.66

16.36 16.36 32 32 -4.94 -4.94 943.69 943.69

21.30 21.30 57 57 1.75 1.75 1924.50 1924.50

41.26 41.26 43 43 10.08 10.08 16221.47 16221.47

31.17 31.17 43 43 -10.24 -10.24 13173.43 13173.43

5.75 5.75 2 2 5.69 5.69 1988.31 1988.31

0.06 0.06 0 0 -7.03 -7.03 1176.48 1176.48

0.00

63.36 63.36 77 77 10.84 10.84 19153.47 19153.47

52.53 52.53 100 100 -15.52 -15.52 16274.41 16274.41

273.28 273.28 6097 6097 -100.84 -100.84 283983.94 283983.94

374.12 374.12 28072 28072 67.25 67.25 417603.66 417603.66

1723.88 1723.88 20586 20586 520.80 520.80 148113.06 148113.06

1203.09 1203.09 19362 19362 75.86 75.86 373684.77 373684.77

1723.88 1723.88 20586 20586 520.80 520.80 148113.06 148113.06

1203.09 1203.09 19362 19362 75.86 75.86 373684.77 373684.77

203.10 203.10 25155 25155 30.26 30.26 1538930.61 1538930.61

172.84 172.84 2648 2648 74.20 74.20 824484.65 824484.65

9006.29 9006.29 119831 119831 1190.30 1190.30 5368843.39 5368843.39

7816.00 7816.00 107910 107910 401.43 401.43 4377518.42 4377518.42

irda

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2010

70

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

2.60 2.60 174 174

5.29 5.29 521 521

0.00 0.00 0 0

0.00 0.00 0 0

0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0

0.00 0.00 0 0

101.76 101.76 1415 1415

125.05 125.05 1881 1881

0 0

101.76 101.76 1415 1415 0.00 0.00 0 0

125.05 125.05 1881 1881 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

34.33 34.33 22903 22903 0.98 0.98 1886.00 1886.00

50.68 50.68 222 222 0.25 0.25 990.00 990.00

440.09 440.09 13051 13051 0.11 0.11 126.00 126.00 62558.00 62558.00

135.15 135.15 842 842 0.13 0.13 146.00 146.00 66594.00 66594.00

440.09 440.09 13051 13051 0.11 0.11 126 126 62558 62558

135.15 135.15 842 842 0.13 0.13 146 146 66594 66594

104.21 104.21 1685 1685 0.00 0.00 0.00 0.00

57.73 57.73 1466 1466 0.00 0.00 0.00 0.00

682.98 682.98 39228 39228 1.09 1.09 2012 2012 62558 62558

373.90 373.90 4932 4932 0.38 0.38 1136 1136 66594 66594

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journ

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2010

71

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Shriram General Insurance Company Limited

42.93 42.93 134 134 41.79 41.79 82133.05 82133.05

1.14 1.14 17 17 1.14 1.14 1853.89 1853.89

0.82 0.82 15 15 0.82 0.82 314.66 314.66

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.82 0.82 15 15 0.82 0.82 314.66 314.66

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

10.95 10.95 14 14 6.98 6.98 1781.72 1781.72

3.97 3.97 3 3 3.97 3.97 1638.64 1638.64

2155.47 2155.47 61057 61057 820.40 820.40 175590.10 175590.10

1335.07 1335.07 36494 36494 1335.07 1335.07 113077.81 113077.81

2029.86 2029.86 65163 65163 660.47 660.47 0.00 0.00

1369.39 1369.39 36903 36903 1369.39 1369.39 0.00 0.00

4185.33 4185.33 65163 65163 1480.87 1480.87 175590.10 175590.10

2704.46 2704.46 36903 36903 2704.46 2704.46 113077.81 113077.81

0.26 0.26 7 7 -0.07 -0.07 5.88 5.88

0.33 0.33 3 3 0.33 0.33 4.26 4.26

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

5.27 5.27 12 12 5.20 5.20 3859.31 3859.31

0.07 0.07 2 2 0.07 0.07 35.00 35.00

5.53 5.53 19 19 5.13 5.13 3865.19 3865.19

0.40 0.40 5 5 0.40 0.40 39.26 39.26

3.06 3.06 944 944 -0.36 -0.36 1753.76 1753.76

3.42 3.42 992 992 3.42 3.42 1729.45 1729.45

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

4.28 4.28 139 139 1.03 1.03 8202.58 8202.58

3.25 3.25 265 265 3.25 3.25 924.45 924.45

4252.90 4252.90 66428 66428 1536.26 1536.26 273641.06 273641.06

2716.64 2716.64 38185 38185 2716.64 2716.64 119263.50 119263.50

irda

journ

alJuly

2010

72

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

100.18 100.18 1955 1955 0.00 0.00 0 0

11.93 11.93 532 532 0.00 0.00 0 0

72.82 72.82 2030 2030 0.00 0.00 0 0

10.13 10.13 548 548 0.00 0.00 0 0

173.00 173.00 2030 2030 0.00 0.00 0 0

22.06 22.06 548 548 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

173.00 173.00 2030 2030 0.00 0.00 0 0 0 0

22.06 22.06 548 548 0.00 0.00 0 0 0 0

irda

journ

alJuly

2010

73

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Tata AIG General Insurance Co Ltd

irda

journ

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2010

74

6,247 6,247 8,161 8,161 - 29,608,763 29,608,763

6,155 6,155 13,492 13,492 - - 18,195,291 18,195,291

2,094 2,094 1,879 1,879 - 519,122 519,122

1,780 1,780 1,569 1,569 - - 436,832 436,832

- - - - - - -

- - - - - - - -

2,094 2,094 1,879 1,879 - - 519,122 519,122

1,780 1,780 1,569 1,569 - - 436,832 436,832

- - - - - -

- - - - - - - -

1,313 1,313 55 55 - 562,234 562,234

1,369 1,369 42 42 - - 249,121 249,121

1,644 1,644 47,741 47,741 - 110,402 110,402

1,310 1,310 30,734 30,734 - - 80,542 80,542

360 360 47,741 47,741 - -

258 258 30,734 30,734 - - - -

2,004 2,004 47,741 47,741 - - 110,402 110,402

1,568 1,568 30,734 30,734 - - 80,542 80,542

35 35 16 16 - 83,787 83,787

43 43 21 21 - - 66,016 66,016

570 570 107 107 - 293,561 293,561

403 403 84 84 - - 213,883 213,883

53 53 37 37 - 238,071 238,071

64 64 79 79 - - 242,578 242,578

1,509 1,509 538 538 - 628,931 628,931

1,613 1,613 378 378 - - 518,475 518,475

2,168 2,168 698 698 - - 1,244,350 1,244,350

2,123 2,123 562 562 - - 1,040,952 1,040,952

1,221 1,221 9,469 9,469 - 1,047,073 1,047,073

1,171 1,171 9,408 9,408 - - 596,946 596,946

- - - - - - -

- - - - - - - -

959 959 23,582 23,582 - 2,480,842 2,480,842

518 518 25,703 25,703 - - 2,525,867 2,525,867

959 959 23,582 23,582 - - 2,480,842 2,480,842

518 518 25,703 25,703 - - 2,525,867 2,525,867

- - - - - - -

- - - - - - - -

- - - - - - -

- - - - - - - -

102 102 809 809 - 1,500 1,500

60 60 495 495 - - 24,920 24,920

16,107 16,107 92,394 92,394 - - 35,574,287 35,574,287

14,744 14,744 82,005 82,005 - - 23,150,471 23,150,471

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

alJuly

2010

75

72 72 80 80 - -

106 106 57 57 - - - -

68 68 45 45 - -

44 44 30 30 - - - -

- - - - - -

- - - - - - - -

68 68 45 45 - - - - - -

44 44 30 30 - - - - - -

- - - - - -

- - - - - - - -

1 1 - - - -

4 4 4 4 - - - -

135 135 3,683 3,683 - -

79 79 1,621 1,621 - - - -

- - - - - -

- - - - - - - -

135 135 3,683 3,683 - - - - - -

79 79 1,621 1,621 - - - - - -

- - - - - -

1 1 1 1 - - - -

23 23 14 14 - -

16 16 20 20 - - - -

- - - - - -

- - - - - - - -

- - - - - -

- - - - - - - -

23 23 14 14 - - - - - -

17 17 21 21 - - - - - -

26 26 653 653 1 1 6,498 6,498

11 11 234 234 - - - -

- - - - - -

- - - - - - - -

264 264 144 144 - -

2 2 46 46 - - - -

264 264 144 144 - - - - - -

2 2 46 46 - - - - - -

- - - - - -

- - - - - - - -

- - - - - -

- - - - - - - -

68 68 640 640 - -

0 0 284 284 - - - -

656 656 5,259 5,259 1 1 6,498 6,498 - -

263 263 2,297 2,297 - - - - - -

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: The New India Assurance Co. Ltd

20130.02 20130.02 111369 111369 1967.61 1967.61 64162485.32 64162485.32

18162.41 18162.41 83986 83986 39171790.70 39171790.70

3248.18 3248.18 27615 27615 566.52 566.52 28328483.80 28328483.80

2681.66 2681.66 28433 28433 20645015.89 20645015.89

2073.24 2073.24 1805 1805 746.09 746.09 4534041.87 4534041.87

1327.15 1327.15 2625 2625 2292307.83 2292307.83

5321.42 5321.42 29420 29420 1312.61 1312.61 32862525.67 32862525.67

4008.81 4008.81 31058 31058 0.00 0.00 22937323.72 22937323.72

953.81 953.81 61 61 163.00 163.00 625714.16 625714.16

790.81 790.81 29 29 1336702.87 1336702.87

3106.23 3106.23 10457 10457 851.08 851.08 16904857.51 16904857.51

2255.15 2255.15 10847 10847 2795296.79 2795296.79

9968.47 9968.47 428027 428027 -204.68 -204.68 62009443.52 62009443.52

10173.15 10173.15 478707 478707 488611.82 488611.82

7547.47 7547.47 316702 316702 -253.76 -253.76

7801.23 7801.23 227297 227297

17515.94 17515.94 428027 428027 -458.44 -458.44 62009443.52 62009443.52

17974.38 17974.38 478707 478707 0.00 0.00 488611.82 488611.82

453 453 5507 5507 52.67 52.67 76267 76267

400 400 7463 7463 47152 47152

125 125 317 317 73.54 73.54 458016 458016

52 52 517 517 429980 429980

82 82 36 36 32.45 32.45 82972 82972

50 50 132 132 284471 284471

1293 1293 14903 14903 80.67 80.67 569445 569445

1212 1212 4379 4379 153727 153727

1953.62 1953.62 20763 20763 239.33 239.33 1186700.70 1186700.70

1714.29 1714.29 12491 12491 0.00 0.00 915330.14 915330.14

1556.77 1556.77 70216 70216 299.62 299.62 10337160.24 10337160.24

1257.15 1257.15 50742 50742 3487241.28 3487241.28

33012.61 33012.61 108685 108685 8386.35 8386.35 8405266.15 8405266.15

24626.26 24626.26 126563 126563 5279569.59 5279569.59

188.99 188.99 7388 7388 -30.38 -30.38 218219.02 218219.02

219.37 219.37 9036 9036 25827.67 25827.67

33201.60 33201.60 116073 116073 8355.97 8355.97 8623485.17 8623485.17

24845.63 24845.63 135599 135599 0.00 0.00 5305397.26 5305397.26

0 0 0 0 0.00 0.00 0 0

0 0 0 0 0 0

1 1 10 10 -4.17 -4.17 3 3

5 5 24 24 157279 157279

5386.06 5386.06 128542 128542 696.48 696.48 22695101.35 22695101.35

4689.58 4689.58 138207 138207 15229505.76 15229505.76

89126.05 89126.05 914938 914938 13423.09 13423.09 219407476.54 219407476.54

75702.96 75702.96 941690 941690 0.00 0.00 91824478.91 91824478.91

irda

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2010

76

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

590.94 590.94 9981 9981 449.92 449.92

823.69 823.69 10010 10010 263.01 263.01

118.04 118.04 953 953 99.22 99.22

52.09 52.09 997 997 66.87 66.87

11.99 11.99 34 34 43.46 43.46

3.36 3.36 18 18 4.25 4.25

130.03 130.03 987 987 142.68 142.68 0 0

55.45 55.45 1015 1015 71.12 71.12 0 0

109.23 109.23 476 476 75.89 75.89

71.67 71.67 550 550 74.68 74.68

570.70 570.70 43025 43025 712.19 712.19 1268.00 1268.00

640.36 640.36 69781 69781 477.22 477.22 1736.00 1736.00

434.22 434.22 80969 80969 385.87 385.87 2448.00 2448.00

496.94 496.94 30308 30308 307.28 307.28 1823.00 1823.00

1004.92 1004.92 80969 80969 1098.06 1098.06 3716 3716

1137.30 1137.30 69781 69781 784.50 784.50 3559 3559

27 27 384 384 44 44 2830 2830

70 70 361 361 40 40 3713 3713

0 0 6 6 10 10 0 0

0 0 5 5 1 1 0 0

0 0 0 0 0 0 0 0

1 1 1 1 9 9 0 0

59 59 726 726 26 26 1 1

93 93 402 402 30 30 27 27

86.50 86.50 1116 1116 79.69 79.69 2831 2831

163.09 163.09 769 769 80.38 80.38 3740 3740

93.48 93.48 6356 6356 176.04 176.04 55518 55518

65.20 65.20 4364 4364 40.90 40.90 121596 121596

515.32 515.32 12462 12462 383.03 383.03 225428 225428 1464745 1464745

404.97 404.97 28378 28378 637.69 637.69 10072115 10072115 1016290 1016290

6.17 6.17 575 575 12.39 12.39 951 951 7845 7845

6.70 6.70 621 621 10.00 10.00 2705 2705 3924 3924

521.49 521.49 13037 13037 395.42 395.42 226379 226379 1472590 1472590

411.67 411.67 28999 28999 647.69 647.69 10074820 10074820 1020214 1020214

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

641.66 641.66 31339 31339 278.72 278.72 26967 26967

562.52 562.52 29711 29711 334.08 334.08 5176586 5176586

3178.25 3178.25 144261 144261 2696.42 2696.42 315411 315411

3290.59 3290.59 145199 145199 2296.36 2296.36 15380301 15380301

irda

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2010

77

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: The Oriental Insurance Company Limited

irda

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2010

78

12647.68 12647.68 48806 48806 32106727.24 32106727.24

9831.47 9831.47 41155 41155 0.00 0.00

2545.85 2545.85 15214 15214 7370299.40 7370299.40

2067.06 2067.06 17875 17875 0.00 0.00

2073.53 2073.53 412 412 422091.14 422091.14

881.85 881.85 337 337 0.00 0.00

4619.38 4619.38 15626 15626 0.00 0.00 7792390.54 7792390.54

2948.91 2948.91 18212 18212 0.00 0.00 0.00 0.00

140.67 140.67 31 31 15993.84 15993.84

2223.06 2223.06 25 25 0.00 0.00

2977.03 2977.03 4386 4386 2020378.36 2020378.36

2156.62 2156.62 3909 3909 0.00 0.00

8059.24 8059.24 402172 402172 543423.58 543423.58

7265.65 7265.65 366774 366774 0.00 0.00

6742.37 6742.37 569731 569731

6117.54 6117.54 505902 4948967

14801.61 14801.61 569731 569731 0.00 0.00 543423.58 543423.58

13383.19 13383.19 505902 4948967 0.00 0.00 0.00 0.00

664.74 664.74 5925 5925 9909.76 9909.76

629.35 629.35 5315 5315 0.00 0.00

24.69 24.69 57 57 4291303.82 4291303.82

23.04 23.04 59 59 0.00 0.00

40.18 40.18 11 11 144845.16 144845.16

45.45 45.45 15 15 0.00 0.00

263.78 263.78 2634 2634 1937037.49 1937037.49

284.62 284.62 2446 2446 0.00 0.00

993.39 993.39 8627 8627 0.00 0.00 6383096.23 6383096.23

982.46 982.46 7835 7835 0.00 0.00 0.00 0.00

1613.12 1613.12 90617 90617 2503758.79 2503758.79

1157.62 1157.62 86870 86870 0.00 0.00

12861.22 12861.22 58574 58574 449100.03 449100.03

11786.03 11786.03 48820 48820 0.00 0.00

104.46 104.46 3316 3316 349474.11 349474.11

112.10 112.10 3209 3209 0.00 0.00

12965.68 12965.68 61890 61890 0.00 0.00 798574.14 798574.14

11898.13 11898.13 52029 52029 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

6699.46 6699.46 95239 95239 1012449666.58 1012449666.58

4559.71 4559.71 86769 86769 0.00 0.00

57458.02 57458.02 894953 894953 0.00 0.00 1064614009.30 1064614009.30

49141.17 49141.17 802706 5245771 0.00 0.00 0.00 0.00

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

irda

journ

alJuly

2010

79

417.42 417.42 7396 7396 208.71 208.71 0.00 0.00

437.24 437.24 3976 3976 37.51 37.51 0.00 0.00

112.93 112.93 730 730 56.47 56.47 0.00 0.00

51.78 51.78 706 706 8.96 8.96 0.00 0.00

12.93 12.93 157 157 6.47 6.47 0.00 0.00

1.93 1.93 101 101 4.05 4.05 0.00 0.00

125.86 125.86 887 887 62.93 62.93 0 0

53.71 53.71 807 807 13.01 13.01 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

146.51 146.51 585 585 73 73 0 0

64.84 64.84 313 313 11 11 0 0

1473.88 1473.88 69147 69147 737 737 0 0

820.78 820.78 39047 39047 130 130 0 0

1270.39 1270.39 96520 96520 635 635 2472293 2472293

720.66 720.66 54299 54299 127 127 0 0

2744.27 2744.27 96520 96520 1372.14 1372.14 2472293 2472293

1541.44 1541.44 54299 54299 257.45 257.45 0 0

81.53 81.53 984 984 41 41 110026 110026

36.62 36.62 541 541 8 8 0 0

0.29 0.29 1 1 0 0 0 0

0.29 0.29 1 1 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.14 0.14 2 2 0 0 0 0

31.97 31.97 214 214 16 16 109071 109071

23.75 23.75 125 125 2 2 0 0

113.79 113.79 1199 1199 56.90 56.90 219097 219097

60.80 60.80 669 669 10.05 10.05 0 0

98.01 98.01 20945 20945 49 49 219098 219098

44.79 44.79 11742 11742 15 15 0 0

171.25 171.25 3211 3211 86 86 185194 185194

81.90 81.90 2387 2387 294 294 0 0

2.82 2.82 78 78 1 1 125 125

2.30 2.30 31 31 1 1 0 0

174.07 174.07 3289 3289 87.04 87.04 185319 185319 0 0

84.20 84.20 2418 2418 294.54 294.54 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

1246.32 1246.32 27959 27959 623 623 1478624 1478624

594.04 594.04 19075 19075 29 29 1903 1903

5066.25 5066.25 158780 158780 2533.13 2533.13 4574431 4574431 0 0

2881.06 2881.06 93299 93299 667.57 667.57 1903 1903 0 0

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: United India Insurance Company Limited

11297.00 11297.00 73087 73087 2455.00 2455.00 18133226 18133226

8842.00 8842.00 70424 70424 -369.00 -369.00 14192616 14192616

3559.00 3559.00 25186 25186 1115.00 1115.00 7556263 7556263

2444.00 2444.00 24285 24285 107.49 107.49 5347921 5347921

905.00 905.00 1469 1469 -60.00 -60.00 323214 323214

965.00 965.00 1002 1002 730.51 730.51 311090 311090

4464.00 4464.00 26655 26655 1055.00 1055.00 7879478 7879478

3409.00 3409.00 25287 25287 838.00 838.00 5659011 5659011

12.92 12.92 47 47 4.05 4.05 1938 1938

8.87 8.87 42 42 3.97 3.97 1305 1305

3387.00 3387.00 8504 8504 1153.00 1153.00 1466234 1466234

2234.00 2234.00 7661 7661 -376.00 -376.00 989722 989722

8839.00 8839.00 403032 403032 405.00 405.00 1254207 1254207

8434.00 8434.00 401390 401390 930.81 930.81 1050887 1050887

7769.00 7769.00 667958 667958 1681.00 1681.00

6088.00 6088.00 588649 588649 388.19 388.19

16608.00 16608.00 667958 667958 2086.00 2086.00 1254207 1254207

14522.00 14522.00 588649 588649 1319.00 1319.00 1050887 1050887

481.02 481.02 5958 5958 63.75 63.75

417.27 417.27 5179 5179 32.13 32.13

121.58 121.58 1078 1078 -29.18 -29.18 24316 24316

150.76 150.76 664 664 -2.19 -2.19 27411 27411

68.37 68.37 194 194 26.11 26.11 13606 13606

42.26 42.26 159 159 -0.71 -0.71 8771 8771

326.20 326.20 2529 2529 9.31 9.31 99246 99246

316.89 316.89 2161 2161 39.54 39.54 94590 94590

997.17 997.17 9759 9759 69.99 69.99 137168 137168

927.18 927.18 8163 8163 68.77 68.77 130772 130772

1161.89 1161.89 36946 36946 341.91 341.91 3827047 3827047

819.98 819.98 33234 33234 58.41 58.41 2958230 2958230

14512.00 14512.00 103603 103603 2936.95 2936.95 2004620 2004620

11575.05 11575.05 96676 96676 3607.88 3607.88 1865685 1865685

764.00 764.00 8128 8128 256.05 256.05 224838 224838

507.95 507.95 6528 6528 5.12 5.12 150060 150060

15276.00 15276.00 111731 111731 3193.00 3193.00 2229458 2229458

12083.00 12083.00 103204 103204 3613.00 3613.00 2015745 2015745

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00

6588.02 6588.02 165407 165407 93.06 93.06 1269955 1269955

6494.96 6494.96 156740 156740 382.84 382.84 1210803 1210803

59792.00 59792.00 1100094 1100094 10451.00 10451.00 36198712 36198712

49341.00 49341.00 993404 993404 5539.00 5539.00 28209092 28209092

irda

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2010

80

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

615.82 615.82 11005 11005 0.00 0.00 0 0

443.14 443.14 9825 9825 195.19 195.19 245 245

94.20 94.20 1806 1806 0.00 0.00 0 0

60.29 60.29 1393 1393 45.14 45.14 95 95

10.79 10.79 195 195 0.00 0.00 0 0

6.18 6.18 58 58 4.96 4.96 0 0

105.00 105.00 2001 2001 0.00 0.00 0 0

66.47 66.47 1450 1450 50.10 50.10 95 95

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

141.37 141.37 1064 1064 0.00 0.00 0 0

117.11 117.11 880 880 43.86 43.86 26 26

1334.25 1334.25 65633 65633 0.00 0.00 0 0

1196.70 1196.70 61032 61032 221.60 221.60 2410 2410

932.36 932.36 104586 104586 0.00 0.00 0 0

818.15 818.15 84020 84020 128.03 128.03 1092 1092

2266.61 2266.61 104586 104586 0.00 0.00 0 0

2014.85 2014.85 84020 84020 349.63 349.63 3502 3502

42.43 42.43 879 879 14.79 14.79 41 41

36.74 36.74 767 767 11.31 11.31 20 20

8.18 8.18 93 93 0.00 0.00 0 0

3.10 3.10 65 65 2.40 2.40 0 0

2.16 2.16 18 18 0.00 0.00 0 0

1.34 1.34 0 0 1.45 1.45 0 0

12.27 12.27 287 287 0.00 0.00 0 0

9.34 9.34 153 153 6.12 6.12 0 0

65.04 65.04 1277 1277 14.79 14.79 41 41

50.52 50.52 984 984 21.28 21.28 20 20

166.09 166.09 4755 4755 219.84 219.84 12152 12152

67.63 67.63 4364 4364 138.32 138.32 8168 8168

305.55 305.55 7980 7980 1916.15 1916.15 60072 60072 5869 5869

270.34 270.34 6268 6268 224.95 224.95 33643 33643 4681 4681

16.49 16.49 740 740 2.73 2.73 130 130 319 319

13.09 13.09 562 562 3.54 3.54 289 289 212 212

322.04 322.04 8720 8720 1918.88 1918.88 60202 60202 6188 6188

283.43 283.43 6830 6830 228.49 228.49 33932 33932 4893 4893

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

1010.47 1010.47 35884 35884 286.64 286.64 4568 4568

907.40 907.40 32220 32220 190.48 190.48 4305 4305

4692.43 4692.43 169292 169292 2440.15 2440.15 76963 76963 6188 6188

3950.55 3950.55 140573 140574 1217.34 1217.34 50293 50293 4893 4893

irda

journ

alJuly

2010

81

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Universal Sompo

irda

journ

alJuly

2010

82

425.42 425.42 6706 6706 131.58 131.58 501019.54 501019.54

293.84 293.84 4239 4239 280.89 280.89 252002.57 252002.57

116.87 116.87 64 64 67.20 67.20 748654.67 748654.67

49.67 49.67 68 68 49.67 49.67 91999.16 91999.16

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

116.87 116.87 64 64 67.20 67.20 748654.67 748654.67

49.67 49.67 68 68 49.67 49.67 91999.16 91999.16

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

152.85 152.85 70 70 30.93 30.93 38340.15 38340.15

121.92 121.92 67 67 121.92 121.92 13906.60 13906.60

972.40 972.40 35909 35909 862.79 862.79 83548.35 83548.35

109.61 109.61 2385 2385 109.61 109.61 8381.73 8381.73

341.17 341.17 0 0 341.17 341.17

0.00 0.00 0 0 0.00 0.00

1313.57 1313.57 35909 35909 1203.96 1203.96 83548.35 83548.35

109.61 109.61 2385 2385 109.61 109.61 8381.73 8381.73

3.16 3 24 24 -0.27 -0.27 436 436

3.43 3.43 8 8 3.43 3.43 566.80 566.80

3.27 3.27 3 3 2.68 2.68 5400 5400

0.59 0.59 5 5 0.59 0.59 1282.00 1282.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

14 14 9 9 13.70 13.70 3390 3390

0 0 0 0 0 0 0 0

20.13 20.13 36 36 16.11 16.11 9226.37 9226.37

4.02 4.02 13 13 4.02 4.02 1848.80 1848.80

59.45 59.45 341 341 -558.37 -558.37 285574.75 285574.75

617.82 617.82 76 76 617.82 617.82 7278094.13 7278094.13

500.16 500.16 2259 2259 71.51 71.51 41802.05 41802.05

428.65 428.65 1006 1006 428.65 428.65 41665.25 41665.25

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

500.16 500.16 2259 2259 71.51 71.51 41802.05 41802.05

428.65 428.65 1006 1006 428.65 428.65 41665.25 41665.25

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

212.09 212.09 9123 9123 -25.85 -25.85 120305.64 120305.64

237.94 237.94 7997 7997 237.94 237.94 115204.93 115204.93

2800.54 2800.54 54508 54508 937.07 937.07 1828471.52 1828471.52

1863.47 1863.47 15851 15851 1850.52 1850.52 7803103.16 7803103.16

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

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0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

0.00 0.00 0 0 0 0 0 0

85.43 85.43 3431 3431 0 0.00 0 0

38.88 38.88 1627 1627 0 0.00 0 0

85.43 85.43 3431 3431 0.00 0.00 0 0 0 0

38.88 38.88 1627 1627 0.00 0.00 0 0 0 0

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Agriculture Insurance Company of India Ltd.

4585.32 4581.77

7149.32 81502.02

4585.32 4581.77

7149.32 81502.02

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84

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

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2010

85

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Apollo Munich Health Insurance Company Limited

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

32.25 32.25 1072 1072 32.25 32.25 11908.63 11908.63

0.53 0.53 107 107 0.53 0.53 12030.08 12030.08

1687.68 1687.68 24352 24352 1687.68 1687.68 22119.71 22119.71

432.53 432.53 1726 1726 432.53 432.53 29594.88 29594.88

62.54 62.54 2160 2160 62.54 62.54 163029.75 163029.75

50.91 50.91 2496 2496 50.91 50.91 161062.50 161062.50

1750.22 1750.22 26512 26512 1750.22 1750.22 185149.46 185149.46

483.44 483.44 4222 4222 483.44 483.44 190657.38 190657.38

68.30 68.30 41405 41405 68.30 68.30 207025.00 207025.00

30.20 30.20 30044 30044 30.20 30.20 149960.00 149960.00

1850.77 1850.77 68989 68989 1850.77 1850.77 404083.09 404083.09

514.17 514.17 34373 34373 514.17 514.17 352647.46 352647.46

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86

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.10 0.10 810 810 0.25 0.25 926 926

0.00 0.00 0 0 0.00 0.00 0 0 71462 71462

9203 9203

0.00 0.00 0 0 0.00 0.00 0 0 2642 2642

2807 2807

0.00 0.00 0 0 0.00 0.00 0 0 74104 74104

0.00 0.00 0 0 0.00 0.00 0 0 12010 12010

0.10 0.10 810 810 0.25 0.25 926 956 74104 74104

0.00 0.00 0 0 0.00 0.00 0 0 12010 12010

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87

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Export Credit Guarantee Corporation of India Ltd

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

6854 6854 814 814 1147 1147 238200 238200

5707 5707 925 925 1001 1001 257360 257360

6854.40 6854.40 814 814 1147.39 1147.39 238199.73 238199.73

5707.01 5707.01 925 925 1000.99 1000.99 257360.00 257360.00

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88

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0

0.00 0.00 0 0 0.00 0.00 0 0

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2010

89

non-life insurance

* Wherever applicable

LINE OF BUSINESS

Fire

Previous year

Marine Cargo

Previous year

Total Premium u/wTotal No. of

Policies IssuedAccretions during

the month (premium)Sum Assured

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

For themonth

Up tothe month

Marine Hull (IncludingOnshore & Offshore oil energy)

Previous year

Marine (Total)

Previous year (Total)

Aviation

Previous year

Engineering

Previous year

Motor Own Damage

Previous year

Motor Third party

Previous year

Motor (Total)

Previous year (Total)

Workmen's compensation /Employer's liability

Previous year

Public Liability

Previous year

Product Liability

Previous year

Other Liability Covers

Previous year

Liability (Total)

Previous year (Total)

Personal Accident

Previous year

Medical Insurance

Previous year

Overseas Medical Insurance

Previous year

Health (Total)

Previous year (Total)

Crop Insurance

Previous year

Previous year

Credit Guarantee

All Other Miscellaneous

Previous year

Grand Total

Previous year (Total)

BUSINESS FIGURES:

Name of the Insurer: Star Health and Allied Insurance Company Limited

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0 0.00 0.00

0 0

0 0

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

0.00 0.00 0 0 0.00 0.00 0.00 0.00

95.91 95.91 9074 9074 66.64 66.64 180089.16 180089.16

29.27 29.27 5542 5542 2.20 2.20 33482.19 33482.19

20157.20 20157.20 46328 46328 6173.71 6173.71 10177704.40 10177704.40

13983.49 13983.49 25794 25794 8228.52 8228.52 10121657.95 10121657.95

122.98 122.98 3886 3886 52.74 52.74 373117.46 373117.46

70.24 70.24 2066 2066 32.40 32.40 172027.54 172027.54

20280.18 20280.18 50214 50214 6226.45 6226.45 10550821.86 10550821.86

14053.73 14053.73 27860 27860 8260.92 8260.92 10293685.49 10293685.49

27.62 27.62 9899 9899 -8.01 -8.01 98990 98990.00

35.63 35.63 12756 12756 34.41 34.41 127560.00 127560.00

20403.71 20403.71 69187 69187 6285.08 6285.08 10829901.02 10829901.02

14118.63 14118.63 46158 46158 8297.53 8297.53 10454727.68 10454727.68

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90

No. of Lives coveredin Social Sector

Amount of Premiumu/w in Social Sector

No. of Policiesin Rural Areas

For themonth

For themonth

For themonth

Up tothe month

For themonth

FOR AND UP TO THE MONTH OF APRIL, 2010

Amount of Premiumu/w in Rural Areas

No. ofLives covered *

Up tothe month

Up tothe month

Up tothe month

For themonth

Up tothe month

(Premium in Rs Lakhs)

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

0.00 0.00 0 0 0.00 0.00 0 0 0 0

13.46 13.46 3792 3792 72.89 72.89 53846 53846.00

11.39 11.39 2082 2082 14.08 14.08 20440 20440.00

504.99 504.99 15717 15717 19405.45 19405.45 26344 26344.00 24335544 24335544

232.27 232.27 10344 10344 13586.42 13586.42 24277095 24277095.00 24295696 24295696

23.90 23.90 760 760 61.10 61.10 2062 2062.00 3886 3886

18.09 18.09 502 502 35.01 35.01 1000 1000.00 2066 2066

528.89 528.89 16477 16477 19466.55 19466.55 28406 28406 24339430 24339430

250.36 250.36 10846 10846 13621.43 13621.43 24278095 24278095 24297762 24297762

27.62 27.62 9899 9899

35.63 35.63 12576 12576

542.35 542.35 20269 20269 19567.06 19567.06 92151 92151 24339430 24339430

261.75 261.75 12928 12928 13671.14 13671.14 24311111 24311111 24297762 24297762

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SPREAD THE WORK...The above advertisement is issued by IRDA in the Public interest.

Those wishing to publish it for spreading consumer awareness of Insurancemay use this artwork for reproduction.

events

13 – 15 July 2010 International Takaful Summit London By Takaful House PJSC, Dubai

22 – 23 July 2010 4th Asian Conference on Microinsurance Ho Chi Minh City, By Asia Insurance Review, Singapore

Vietnam

15 – 17 July 2010 Reinsurance Management NIA, Pune By National Insurance Academy

19 – 21 July 2010 Rural & Micro-insurance NIA, Pune By National Insurance Academy

25 – 29 July 2010 World Risk and Insurance Economics CongressSingapore By APRIA, Singapore; & others

30 July 2010 De-Bottlenecking the Health Insurance Growth New Delhi By FICCI

02 – 07 Aug 2010 Risk-based Underwriting (Non-life) NIA, Pune By National Insurance Academy

12 – 14 Aug 2010 Financial Risk Insurance NIA, Pune By National Insurance Academy

23 – 25 Aug 2010 Management of Motor Underwriting & Claims (OD) NIA, Pune By National Insurance Academy

30 Aug – 1 Sep 2010 Workshop on Micro-Insurance NIA, Pune By National Insurance Academy

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

Venue:

round up

48

irda j

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2010

The Insurance Institute of India moved into its own premises at Bandra-Kurla Complex, Mumbai which was

dedicated to the nation by the Hon'ble Finance Minister Shri Pranab Mukherjee,

thon 8 June, 2010

Shri Sharad Shrivastav, Secretary General, Insurance Institute of India proposing a

vote of thanks

A memento being presented to Shri J. Hari Narayan, Chairman, IRDA by

Shri M. Ramadoss, CMD, New India Assurance Co. Ltd. Also seen in the picture are Shri Pranab Mukherjee

and Shri T.S. Vijayan, Chairman, LIC of India

Shri Pranab Mukherjee and Shri Ashok S. Chavan, Chief Minister of Maharashtra engrossed in a conversation

The failure of systems and processes featured strongly in the recent financial crisis. Failure

by Boards and senior management to exercise effective risk management oversight led to

serious consequences for some financial institutions.

Mr Andrew KhooAssistant Managing Director, Monetary Authority of Singapore

We want to ensure the legislation ultimately enacted addresses issues, gaps or weaknesses

exposed by actual events; and avoids unnecessary or counterproductive changes to

healthy and functioning elements of the financial system.

Ms. Jane L. ClineNAIC President and West Virginia Insurance Commissioner

We noted that uncertainties continued to cloud the global economic outlook, and global

financial markets remained vulnerable to aftershocks.

Mr. John F. LakerChairman, Australian Prudential Regulation Authority

Though global conditions have improved, recent developments in Europe have once

again unsettled financial markets as doubts have arisen over the fiscal sustainability of

several countries in the Euro zone.

Mr. Lim Hng KiangMinister for Trade and Industry, Government of Singapore

Crucial to the long-term resilience and continued sustainability of financial institutions is

the presence of an effective board to provide oversight, strategic guidance, and to

inculcate strong governance and risk management culture within the organisation.

Mr. Dato' Muhammad bin IbrahimDeputy Governor, Bank Negara Malaysia

This (the Ordinance on ULIPs) is a positive development for insurance companies and

would also boost policyholders' confidence in ULIPs.

Mr. J. Hari NarayanChairman, Insurance Regulatory & Development Authority, India.

RNI No: APBIL/2002/9589

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If undelivered please return to: rdIRDA, Parishram Bhavan, 3 Floor, Basheer Bagh, Hyderabad - 500 004. Ph: +91-40-23381100