National Insurance Company Ltd



NIC (National Insurance Company Ltd.) is the India's second largest and oldest general insurance Company in India. It was incorporated in Kolkata on 5th December, 1906 to fulfil the nationalist aspiration for Swaraj. 66 years later, after nationalisation it was merged along with 21 foreign and 11 Indian companies to form National Insurance Company Ltd, one of the 4 subsidiaries of the Govt. owned General Insurance Corporation of India. On 2002, National Insurance de-linked from GIC and currently, it is operating as an independent entity, wholly owned by Govt. of India. Its product segment includes a multitude of general insurance plans, offered to a wide arena of clients encompassing different sections of the society. Headquartered in Kolkata, West Bengal, National Insurance has gained recognition as a leading general insurance company in the Asia Pacific region. The company has successfully grabbed a place for itself among top global business insurance companies.

It was also the first Indian insurance Company to enter into Strategic Alliances with the country's largest Automobile manufacturer M/s Maruti and Two Wheeler major M/s. Hero Moto Corp and many others. These Tie ups ushered in a paradigm shift in Service Delivery method for Motor insurance. NIC also pioneered Bancassurance in India, by forging tie-ups with the country's largest Banks.

With a work force of 14902 skilled personnel and 1998 offices all over India including operations in Nepal, National Insurance stands tall today as India's 2nd largest non life insureras measured by its gross direct written premiums (GDWP). Motor insurance is the market's largest segment, and National had the largest market share in motor business among India's insurers in terms of GDWP in FY 15.Leader in 2 zones ie North and East, NIC recorded a premium of Rs 11282.64 crore in FY 15 recording its highest PBT of Rs 1196.74 crore as against 1007.82 crore in the previous year. Investment Income increased to Rs 2654 crs from the earlier 2263 crs. NIC contributed a handsome Dividend of Rs 165 crs to the National Exchequer in 2013 -14, the Dividend for FY 15 is Rs 194 crs.

Some of the reputed awards earned by National Insurance are:

  • Indian Insurance Awards for best under-served market penetration
  • Top 100 CISCO Awards 2012
  • Digital Inclusion Award 2012

National Insurance offers a wide range of policies to target different sectors like:

  • Personal insurance policy
  • Rural insurance
  • Industrial insurance
  • Commercial insurance

National Insurance Company Product Portfolio
Health Insurance Plans by National Insurance Company:

National health plans provide a variety of health plans to choose from. You can choose to insure your family too. Don't let your health bills escalate beyond control. You can manage a medical emergency with a good health insurance plan.

  • National Parivar Mediclaim: The National Parivar Mediclaim Policy is a floater policy which covers the family including self, spouse, dependent children and parents under one sum insured. The sum insured can range from Rs. 1-10 lakh in multiples of Rs. 1 lakh. Minimum policy period is 1 year while the maximum is for 3 years. The policy comes with lifelong renewability.
  • National Parivar Mediclaim Plus: The National Parivar Mediclaim Plus Policy covers the family including self, spouse, children and parents/parents-in-laws under one floater sum insured. This is a unique product which offers coverage as high as Rs. 50 Lakh, with many innovative features. It covers the family including the insured, his or her spouse, children and parents and parents-in-law under one floater sum insured. The policy comes with lifelong renewability. The minimum policy period is 1 year while the maximum tenure is 3 years.
  • National Mediclaim Plus Policy: National Mediclaim Plus Policy with its comprehensive coverage goes beyond the traditional health covers, as it offers protection against high health care costs and makes health care and related services easy and accessible. The Policy provides for expenses of hospitalisation, pre & post and day care treatment. Expenses of Allopathic, Ayurvedic and Homeopathic treatment are payable up to the sum insured. The Policy covers expenses of maternity, for new born and vaccination for children. Expenses for medical emergency reunion, air ambulance and hospital cash are also payable. In the event of being diagnosed with a serious illness, a medical second opinion from World Leading Medical Centres will be arranged. In addition, optional covers for Critical illness and Outpatient treatment can also be availed.
  • Parivar Mediclaim: Parivar Mediclaim policy provides protection to families against the financial burden of treatment in hospitals for illness/ disease/ accidental injury. It is a floater policy where the entire family including the insured, his or her spouse and two dependent children are covered under a single floater sum insured.
  • National Mediclaim Policy: The policy covers hospitalization expenses reasonably to persons between ages of 18 and 65 years and necessarily incurred for treatment of illness/disease or injury contracted/sustained by the insured persons during the policy period. It also has a lifelong renewability option and covers 140+ day care procedures/surgeries.

Car Insurance Plans by National Insurance:

Car insurance plans from National Insurance offer good coverage at competitive premium. Motor Insurance Contracts are subject to the basic principles applicable to property and liability insurance in general. The owner of the vehicle must be a registered owner to the vehicle whereby he or she stands to benefit by the safety of the vehicle, right, interest or freedom from liability and stands to lose by any loss , damage, injury or creation of liability.

Two-Wheeler Insurance Plan by National Insurance Company:

The two-wheeler insurance policy from National Insurance is a comprehensive plan and takes into account all the possibilities that may damage your ride. The owner of the vehicle must be a registered owner to the vehicle whereby he or she stands to benefit by the safety of the vehicle, right, interest or freedom from liability and stands to lose by any loss, damage, injury or creation of liability.

Travel Insurance Plans by National Insurance:

National Travel insurance plans give you the benefit of travelling with confidence by indemnifying you against loss or damage to personal effects such as clothing, etc.

  • Overseas Mediclaim Business and Holiday: Overseas Mediclaim Policy is a package policy covering various travel emergencies when travelling abroad. It is available for three categories of travellers
    - business or holiday
    - employment or study
    - corporate frequent travellers
  • Overseas Mediclaim Employment and Studies: Overseas Mediclaim Employment and Studies is a policy available to three categories of travellers covering travel emergencies faced abroad by the insured persons during the policy period. It also covers 140+ day care procedures/ surgeries. It is available to travellers on business or holiday, those travelling for employment or study, and corporate frequent travellers. The premium has to be paid in Indian rupees except in the case of employment.

Home Insurance Plans by National Insurance Company:

An average person is able to buy one house in a lifetime, which is turned into a dream home with a lot of effort. Isn't it wise to protect your sweet home from any unseen eventuality? National Home Insurance policy is an ideal product to buy for insuring your home. The plan is very comprehensive and covers personal accident including medical expenses as well, apart from the damages, which has been sustained by your house.

  • Householders Insurance: It is a packaged policy which provides a range of covers that are required for a common householder.Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet. The household contents must be valued as per their market value and electrical items at their replacement value for them to be included in the policy.

Personal Accident Insurance Plans by National Insurance:

Personal Accident Insurance policy from National Insurance provides your beneficiary with a death benefit in the unfortunate event of your accidental death and also provides you with cover against permanent disability on account of an accident. It is advised that each person buys such a policy because yesterday is history, today is a gift and tomorrow a mystery.

  • Individual Personal Accident: Personal Accident Insurance policy provides your beneficiary with a death benefit in the unfortunate event of your accidental death and It also provides you with cover against Permanent Total Disablement (PTD) on account of an accident. It also provides the insured with cover against permanent total disablement on account of an accident. This policy can be taken by any adult residing in India to covering himself/herself and dependent family members between the ages of 5 and 70 years.
  • Janata Personal Accident: JPA policy covers any person irrespective of sex, occupation and profession in the age group of 10 to 70 years for death and permanent total disablement and permanent partial disablement. The policy is available for a minimum sum insured of Rs. 25000 per person per annum while the maximum sum insured is limited to Rs. 100000 per person per annum.

Rural Insurance Plans by National Insurance:

National Insurance provides various policies to insure the rural population of India including farmers, tradesmen and other dwellers.

  • Gramin Suswasthya Microinsurance Policy: The micro-insurance plan provides cover to the lower income class and insures against hospitalisation expenses of the entire family. It also provides personal accident cover to the insured and his/her spouse. This policy is having two sections: Section I covers hospitalization expenses on family floater basis and Section II covers Personal Accident and Outdoor Patient(OPD) expenses to the insured and spouse due to accident only. Any adult residing in India can take the policy covering himself/ herself between the age of 3 months to 60 years.
  • Gramin Suraksha Bima Policy: The micro-insurance policy protects the lower income group against bodily injuries resulting solely and directly from accidents caused by outward violent and visible means. This policy has three sections. Section -I covers building and contents, Section -II covers hospitalization expenses of the family. Section -III provides Personal Accident cover to the insured and his/her spouse.

Industrial Insurance Plans by National Insurance:

The industrial insurance plans from National Insurance cover against any losses that may occur during the normal course of business in industrial units.

  • Machinery Insurance
  • Erection All Risk
  • Contractor Plant and Machinery
  • Contractor All Risk
  • Electronic Equipment Insurance

Commercial Insurance Plans by National Insurance:

National Insurance Company offers a variety of plans for the commercial sector.

  • Standard Fire and Special Perils
  • Shopkeepers Insurance
  • Credit Insurance
  • Marine Insurance - Marine Cargo Special Declaration Policy
  • Marine Insurance - Open Cover
  • Marine Insurance - Duty Insurance Policy
  • Marine Insurance - Marine Cargo STOP