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Insurance News

Air India Gets Insurance Cover Renewed For $26.75 m As Premium [Posted by: InsuringIndia News on Sunday, September 28, 2014 12:00 AM ]

The national carrier Air India has managed to get insurance cover renewed with 15 per cent rise in premium. Following some major airlines tragedies this year, it has become tough for airlines to get insured.

Before the airlines sought for the renewal, the demand from the insurers was about 25 per cent hike over the existing premium but finally insurers came down to 15 per cent. The airline will be paying $26.75 million to a consortium of public sector insurers led by New India Assurance

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United India Insurance Considers Re-Entering Overseas Markets [Posted by: InsuringIndia News on Sunday, September 28, 2014 12:00 AM ]

United India Insurance, a public sector general insurance company, has said that it is looking to re-enter the overseas markets. The company will soon carry out a feasibility study to assess the business potential, it said.

The insurer was present in Hong Kong, but had shut it down in year 2002.

According to Mr. Milind Kharat, Chairman-cum-Managing Director, United India Insurance, the company is exploring business potential in overseas markets. Also, the company is studying

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