National Insurance decries privatisation

Singh claimed his company had been growing fast over the last four years. 8220;It recorded a premium of Rs 1,637 crore during 1997-98 and has set up a target of Rs 2,000 crore in 1998-998221;, he said.

The insurance manager revealed that the company had been earning a major chunk of premium, about 60 per cent, from the motor insurance with new vehicles thronging the market every now and then.

He said the National Insurance Company had been putting thrust on clearing the cases within the stipulated period. 8220;The clearance ratio of our cases last year was 85-90 per cent. We have also opened a grievances cell to settle the cases on priority in which the claims could not be paid within 60 days8217; time due to some reasons8221;, he said.

The regional manager of the company, R. K. Kochhar said it had adopted a total customer friendly approach and had been organising seminars and interactions to acquaint the public with new insurance policies. In fact, one such seminar was organised at h otel Red Bishop here today.