| Mumbai, April 19, 2007: Tata AIG General Insurance Company Limited (Tata AIG General) today announced the launch of "General Insurance Version 2007" "� a comprehensive range of innovative insurance solutions, customized for the needs of the IT/ITes (IT Enabled Services) companies. |
| The package offers an array of insurance covers especially for the IT/ITes industry including: |
| Fire policies for offices with extensions for rent for alternate accommodation |
| Overseas Mediclaim insurance facility which allows the employee to purchase travel days liberating from the complications of traditional travel policies. |
| Public Liability policies on international CGL wording with worldwide jurisdiction and extensions for employees working at client premises |
| Directors and Officers Policies covering allegations of discrimination or unfair termination against the company. |
| The Package also has a scheme whereby employees can opt for voluntary accident benefits cover for themselves and their families operating as salary deductions thus indirectly assisting in talent retention. |
| Speaking on the occasion, Mr. Michael Carlin, COO, Tata AIG General said, "The Indian IT industry has achieved remarkable growth during the last two decades. >From the commencement of our operations we have been at the forefront of delivering speciality products to the IT industry; however our close contact with them has shown to us that the industry requires certain specialized coverages even within the standard products. This suite is the result of extensive research and development and interaction with the IT industry of their requirements. |
| Our objective in launching 'General Insurance Version 2007' is to create a vertical division with a special focus on the IT industry and provide them with requisite insurance and advisory services. We are confident that this suite of products will go along way in meeting the hitherto unaddressed needs of the IT and ITES sector under a single window approach." |
| For IT and ITEs companies who are of smaller size, Tata AIG General Insurance has modular policy for offices which provides a comprehensive cover to companies of asset size below Rs. 5 crore which face similar risks. |
| About Tata AIG General Insurance Company Ltd: Tata AIG General Insurance Company Ltd. (Tata AIG) is a joint venture between the Tata Group and American International Group, Inc. (AIG). Tata AIG combines the strength and integrity of the Tata Group with AIG's international expertise and financial strength. The Tata Group holds 74 per cent stake in Tata AIG, while AIG holds the balance 26 per cent stake. |
| Tata AIG General Insurance Company Limited, which started its operations in India on January 22, 2001 offers the complete range of insurance for automobile, home, personal accident, travel, energy, marine, property and casualty, as well as several specialized financial lines. |
| The Tata Group: The Tata Group is one of India's largest and most respected business conglomerates, with revenues in 2004-05 of $17.8 billion (Rs 799,118 million), the equivalent of about 2.8 per cent of the country's GDP. Tata companies together employ some 215,000 people. The Group's 32 publicly listed enterprises - among them stand out names such as Tata Steel, Tata Consultancy Services, Tata Motors and Tata Tea - have a combined market capitalisation that is the highest among Indian business houses in the private sector, and a shareholder base of over 2 million. The Tata Group has operations in more than 40 countries across six continents, and its companies export products and services to 140 nations. |
Top Section
Explore Business Standard