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A REPORT ON

IFFCO-TOKIO
GENERAL INSURANCE CO. LTD.

REPORT SUBMITTED ON:

28TH JULY 2011

REPORT SUBMITTED TO:

ABHINAB PRADHAN BUSINESS DEVELOPMENT MANAGER COMMERCIAL LINES, ITGI CO. LTD.

REPORT SUBMITTED BY:

RIKDEV BHATTACHARYA INTERN, ITGI CO. LTD

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 INDUSTRY PROFILE:
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. Insurance can have various effects on society through the way that it changes who bears the cost of losses and damage. On one hand it can increase fraud, on the other it can help societies and individuals prepare for catastrophes and mitigate the effects of catastrophes on both households and societies. Insurance can influence the probability of losses through moral hazard, insurance fraud, and preventive steps by the insurance company. Insurance scholars have typically used morale hazard to refer to the increased loss due to unintentional carelessness and moral hazard to refer to increased risk due to intentional carelessness or indifference.[6] Insurers attempt to address carelessness through inspections, policy provisions requiring certain types of maintenance, and possible discounts for loss mitigation efforts. While in theory insurers could encourage investment in loss reduction, some commentators have argued that in practice insurers had historically not aggressively pursued loss control measures - particularly to prevent disaster losses such as hurricanes because of concerns over rate reductions and legal battles. However, since about 1996 insurers began to take a more active role in loss mitigation, such as through building codes.

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TYPES OF INSURANCE

NON LIFE INSURANCE

LIFE INSURANCE

MOTOR

FIRE

MARINE

HEALTH

ACCIDENT

There are at present 21 Players in the General Insurance sector  4 Public Sector Companies New India Assurance Oriental India United India National  2 Purely Govt. Companies y y Agriculture Insurance Co. of India Export Credit Guarantee Corp  2 Limited to Health Products Companies y y Star Health Apollo DKV  3 Banks Sponsored Companies are y y y ICICI Lombard HDFC Ergo Universal Sompo  8 Other private companies

y y y y

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y y y y y y y y y y

Bajaj Alliance Tata AIG Reliance General IFFCO Tokio Royal Sundram Cholamandalam Future Generelli Shriram General Bharati Axa Raheja QBE  More Lined up Companies

y y

SBI General Religare  State Insurance Funds (Mahrashtra, Gujrat, Rajasthan etc.)  Deposit Insurance Corporation

 COMPANY PROFILE:
IFFCO-Tokio General Insurance (ITGI) was incorporated on 4th December 2000 with a vision of being industry leader by building customer satisfaction through fairness, transparency, and quick response. It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, the largest listed insurance group in Japan. IFFCO Tokio General Insurance has Pan India presence with 57 Strategic Business Units and a wide network of over 100 Lateral Spread Centres and 280 Bima Kendras. It offers a wide range of uniquely customized policies covering a wide range of customers, from farmers to some of India's largest automobile manufacturers. From a modest Rs 213 Crores of GWP (Gross Written Premium) in 2001-02 it has achieved an impressive Rs 1639.5 Crores in 2009-10, thereby becoming one of Indias leading private players. IFFCO Tokio General Insurance has got the Technical Support for underwriting and reinsurance from Tokio Marine and on Risk Management from Tokio Risk Consulting (TRC). It is the first company in India to underwrite mega policies for a fertilizer and an automobile company. This comprehensive policy is based on international rates and optimizes the premium outflow for clients even as it offers a one-stop, all-risk cover. Other than the conventional products, it has been able to come out with niche products like Credit Insurance, Fine Arts Insurance, P & I Insurance,

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Errors & Omissions Policy for the IT Sector etc. At the same time it has steadfastly carried out its rural centric initiatives by launching products like Sankat Haran Bima Yojana, Mausam Bima Yojana, Mahila Suraksha Bima Yojana and Janata Bima Yojana for the masses. Its pioneering work using technology like RFID(Radio Frequency Identification Device) and NDVI (Normalised Difference Vegetation Index) have made it possible to offer Cattle and Weather insurance to the rural population at large. It is also the only insurance company in the country to have a 100%-owned distribution channel to service its retail customers called IFFCO-TOKIO Insurance Services Ltd (ITIS). It finds special mention in the Capgemini World Insurance Report- 2009 as an innovative distribution channel. Today, ITIS has a highly motivated workforce of 1400 employees in over 350 towns. As a customer focused company, it conducts bi-annual customer satisfaction surveys through independent agencies to gauge its operational efficiencies. This is backed by a robust IT infrastructure, which has enabled, among other things, speedy settlement of claims.

 KEY FEATURES OF THE COLLABORATING PARTNERS: IFFCO Tokio General Insurance Co. Ltd. has been formed through a joint venture between Indias IFFCO and Japans Tokio Marine Nichido; with a 76-24% parntnership.

 IFFCO (Indian Farmers Fertilizer Co-operative Ltd.):

       Worlds largest fertilizer manufacturer in the Co-operative sector Membership of about 39,564 cooperative societies Plants at Phulpur, Aonla Kandla, Kalol and Paradeep Production of Fertilizers (2009-10): 81.97 Lakh MT Turnover (20010-11): Rs. 20,000 Crore Profit Before Tax (2009-10): Rs. 550 Crore Profit After Tax (2009-10): Rs. 387 Crore

 TOKIO MARINE NICHIDO FIRE GROUP:

     A group company of Millea Holdings Established in 1879 Japans oldest and largest General Insurance Company and one of the top ten worldwide Net written premiums INR 1081.7 billion Total assets of INR 7727.8 billion

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 Number of employees: 28063

 MISSION OF THE COMPANY:

To win the trust of individuals, trade, industry and commerce and protect citizens, corporate, cooperatives and international investors in India.

 VISION OF THE COMPANY:

To be the industry leader by building customer satisfaction through fairness, transparency and quick response.

 PAN INDIA PRESENCE OF IFFCO-TOKIO:

ITGI Co. Ltd. has a pan India presence with its corporate office located in Gurgaon, near New Delhi. It has 56 Strategic Business Units(SBUs) spread across all major cities in India. The company also boasts of 104 Lateral Spread Centres(LSCs) which mainly canvasses the Tier II cities all across India. Apart from that ITGI Co. Ltd. has a vast network of 275 Bimakendras that caters to the TIER III and IV towns of India.

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 PRODUCT BASKET:
IFFCO Tokio offers a wide range of uniquely customized policies covering a wide range of customers, from farmers to some of India's largest automobile manufacturers. Our Endeavour is to spread the benefits of insurance to the masses through our specially designed insurance products like Sankat Haran Yojana, Barish Bima Yojana, etc. The company has made a genuine attempt to understand the rural and low-income segment of the Indian market, to tap the potential of this largely unexplored segment and make the benefits of insurance available to the masses. We are also making constant efforts to reach out the entire general insurance spectrum i.e.

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Commercial Lines, Retail lines and Specialty Lines. Innovations will keep on expanding to include customised offerings for various market segments and geographies. The product development team is constantly working to introduce products which are competent in meeting the customer needs. IFFCO Tokio, emphasizes on understanding the need from the market and offering the best possible products across the product lines. IFFCO Tokio approaches the market with products that have differentiated features / benefits / service offerings.

 COMMERCIAL LINES:
IFFCO-TOKIO provides a wide variety of policies that are customized to meet the customers needs. They have been grouped as follows: Standard Fire & Special Perils Insurance Policy Consequential Loss Insurance Policy Contractors All Risk Insurance Policy Contractors Plant & Machinery Insurance Policy Boiler & Pressure Plant Insurance Policy Erection All Risks Insurance Policy Industrial All Risks Insurance Policy Machinery Breakdown Insurance Policy Machinery Loss of Profit Insurance Policy Product Liability Insurance Policy Group Personal Accident Insurance Policy Public Liability Industrial Insurance Policy Public Liability Non-Industrial Insurance Policy Marine Cargo Insurance Policy Electronic Equipment Insurance Policy Bankers Blanket Insurance Policy Burglary Insurance Policy

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Fidelity Guarantee Insurance Policy Money Insurance Policy Workmen's Compensation Insurance Policy

 RETAIL LINES:
IFFCO-TOKIO provides a wide variety of policies that are targeted to meet the requirements of retail buyers. They have been grouped as follows: Motor Private Car Insurance Policy Home and Family Protector Insurance Policy Trade Protector Insurance Policy Industry Protector Insurance Policy Office Professional Establishment Insurance Policy Home Suvidha Insurance Policy Trade Suvidha Insurance Policy Individual Medishield Insurance Policy Individual Personal Accident Insurance Policy Swasthya Kavach (Family Health Insurance) Policy Critical Illness Insurance Policy Travel Protector Insurance Policy All Risk Insurance Policy

 SPECIALTY LINES:
ITGI Co. Ltd has another line of insurances that covers only selective specific sectors. They are:

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Credit Insurance Policy Multi Modal transport (MTO) Insurance Policy Marine Hull & Machinery Insurance Policy Jeweller's Block Insurance Policy Barish Bima Yojna (Weather Insurance) Policy Sagar Bandhu Bima Policy Insurance Policy Aviation Insurance Policy Errors and Omissions (Technology) Insurance Policy Fine Art Insurance Policy Private Collectors Fine Art Insurance Policy Art Dealers & Gallery Owners

 FINANCIAL POSITION:
ITGI Co. Ltd. has seen a steady growth in its market share since its inception in 2000. It has successfully completed 10years in the industry and is the only private insurance company to generate profits for 5 consecutive years. Currently it is the 3rd largest private insurer in the country. It has seen a vibrant growth in its Gross Written Premium since its inception, and currently has a GWP of INR 1988 Crores for the year ending 2010-11. ITGI is the leading motor insurance company in India which generates almost 50% of the companys revenues. It has a major foothold in the Fire insurance, Marine Insurance and Marine Engineering Insurance sectors. ITGI has also experienced a growth in its number of policies issued from 3107135 in 2008-09 to 3533076 in 2009-10 i.e a rise of 13% in the number of policies issued under itgi. ITGI also boasts of a great record regarding claim settlements rising from 93% to 97% in the last financial year.

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Premium Growth
01-02 06-07 02-03 07-08 03-04 08-09 04-05 05-06 09-10 10-11

1988.00 1639.00 1515.00 1152.001235.00 896.10 501.28 214.12 70.51 322.27

Class wise GWP Breakup

900 800 700 600 500 400 300 200 100 0 849.01

GWP in Crores

359.47 202.38 135.12 93.57

Fire

Marine

Engineering

Motor

Misc

Class

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 COLLABORATIONS:
 MAJOR CLIENTELE: ITGI Co. Ltd. has a vast network of corporate clientele canvassing across various sectors. The major clients are:                              National Thermal Power Corpn. Infosys ITC IBM Lanco. L & T Power Herdilia Alstom Subansiri Century Textiles & Industries Ltd JK Lakshmi Cement Limited Kesoram Industries Limited Central Warehousing Corp. Benett and Coleman MCC- PTA Vardhaman Industries Mangalore Refinery Indian Oil Corporation Ltd. Petronet LNG Ltd Bongaigaon Refinery Ltd Essar Oil Ltd Tamilnadu Petroproducts Chennai Petroleum Corporation Southern Petrochemicals Ranbaxy Laboratories Limited Pfizer Pharmaceuticals Limited CNBC TV 18 Maruti Udyog Limited Honda Siel Car Limited GAIL Mangalore Chemicals & Fertilizers

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 MAJOR CORPORATE TIE-UPS:

ITGI has been recognized as the preferred Insurer by various corporate houses; which has given them an added advantage over its competitors. The major national level corporate tie ups are :        Maruti Udyog Limited Toyota Kirloskar Motors Honda Cars Ashok Leyland Mahindra & Mahindra General Motors Ford

 MAJOR TIE-UPS WITH FINANCIAL INSTITUTIONS:

ITGI has been successful in setting up National Level tie-ups with various Financial Institutions. They are:       PNB Housing Finance Peerless General Investment L& T Finance Ltd. Karnataka State Finance Corporation Bajaj Capital Tie up with over 200 Cooperative banks

 CLAIMS:
ITGI, believes that claim settlement needs to be a simple and convenient process which is why, after a quick assessment of the paperwork; they set the wheels in motion. It is their constant endeavor to settle the claims in a prompt and fair manner. It conducts a half yearly customer satisfaction survey made by Independent Agencies to constantly evaluate how they measure up to the exacting standards and expectations of their customers.

 GENERAL CLAIMS PROCEDURE: All insurance contracts are based on the information provided by the insured in the proposal form. The proposal form forms the basis of insurance contracts. Some important points, which helps in the claims procedure are:  The loss or damage should be reported to the insurer immediately.

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 On receipt of claim intimation, the insurer will forward a claim form.  Submit the completed claim form along with an estimate of the loss to the insurer. It is preferable to submit an itemized estimate with separate values.  The insurer will arrange for inspection of the damaged items to assess the loss. In case of major losses, a specialist-licensed surveyor is deputed.  The insured has to provide the required documents to substantiate the extent of loss.  In case the cause of loss is not established, it is for the insured to prove that the loss or damage has occurred due to an insured peril.  On agreement of claim amount between the insured and the insurer, the claim is settled.  Excess as stated as per the Policy terms and condition will be deducted from the claim payable.

 HEALTH CLAIMS(For non-cashless claims):

 Notice of claim should be lodged within 24 hours to the nearest Branch/concerned Branch.  The insured should submit 'discharge summary' of the hospital/nursing home along with original hospital/medical bills, reports of the labs and investigation reports. In other words every item in the claim bill should be supported  Leave certificate from the employer, wherever needed  Fitness certificate from the Doctor

 PERSONAL ACCIDENT CLAIMS:

 Immediate notification to the insurer.  In case of accidental death, the capital sum is paid to the legal nominee/assignee of the insured. If the insured fails to provide the name of the nominee, succession certificate from a court of law is necessary.  In case of other claims, the insurers may get the insured examined by a specialist or refer the matter to medical board as is necessary, the cost of which will be borne by the insurers.

 DOCUMENTS REQUIRED FOR SETTLEMENT OF CLAIMS:

    Claim form Doctors report, bills in case of temporary/permanent disablement Police report/post mortem report in case of accidental death Leave certificate from employer in case of temporary disablement

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 HEALTH/MEDICAL INSURANCES:

HEALTH INSURANCE

RETAIL LINES

COMMERCIAL LINES

INDIVIDUAL MEDISHIELD INSURANCE

SWASTHYA KAVACH FAMILY INSURANCE

INDIVIDUAL PERSONAL ACCIDENT INSURANCE

GROUP PERSONAL ACCIDENT INSURANCE

GROUP MEDISHIELD INSURANCE

INDIVIDUAL MEDISHIELD INSURANCE POLICY:

 POLICY COVERAGE:
In the unfortunate event of the insurer or its family members meeting with an illness or accident resulting in hospitalisation, ITGIs Health Insurance gives a cash free hospitalisation in more than 3000 hospitals across India.The Health Insurance also reimburses the expenses during Pre Hospitalisation and Post - Hospitalisation stages of treatment.  Pre-Hospitalisation: Medical expense incurred 60 days prior to the hospitalization are reimbursed.  Hospitalisation: All expenses including the following reimbursed:

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Room and board, doctors' fee, intensive care unit charges, nursing expenses, surgical fees, operating theatre expenses, anesthesia and oxygen administration expenses, Room, boarding & nursing expenses for normal room/ICU limited to 1% /2.5% of basic sum insured per day respectively.  Post-Hospitalisation: Once discharged from hospital, the policy shall pay for medical expenses related to the hospitalisation, for a period of 60 days after discharge.  Hospital Daily Allowance: In addition to hospital expenses, a daily hospital allowance will be paid for the period of hospitalisation.  Emergency Assistance Service: In the event of an emergency, assistance services like medical consultation, evaluation and referral, emergency medical evacuation, care for minor children etc are provided.  Local Ambulance Service: In the event of an emergency, cover is provided for expenses incurred on ambulance services to the nearest hospital where Emergency Health facilities are available.  General Health Check-up: You will be reimbursed the expenses incurred for general health examination (once in a block of 4 claims free years)  Cumulative bonus: You will be provided with a 5% extra sum insured for every claims free year subject to a maximum of 50% of capital sum insured.  Benefits under Section - 80D: Premium upto Rs. 35,000 is eligible for deductions under Section 80D of Income Tax Act, 1961. However there are sub-limits within this over-all limit. Premium upto Rs 15,000 is eligible for tax deduction for self, spouse and dependant children. Additionally, premium upto Rs 20,000 is eligible for tax relief or parents health cover if they are senior citizens (otherwise Rs 15,000 is eligible) ITGI's Medishield policy ensures comprehensive coverage by offering value added features, at a nominal increase in premium, like:  Critical illness extension:

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The insurer will be covered for 10 named critical illness for double the basic cover sum insured at 40% of the basic cover premium

 EXCLUSIONS:
 Pre-existing Diseases when the cover incepts for the First time.  First 30 days exclusion. Any diseases other than those stated in Clause (iii) contracted by person during first 30 days. Not applicable when insured has prior insurance for a continuous period of at least 12 Months.  Above Exclusion (a) and (b) do not apply when the Insured Person could not have known of the existence of the disease or any Symptom or complaints there of at the time of making Proposal. The Insured has not taken any consultation or treatment prior to taken the Policy.  First Year Exclusion: Cataract, Benign Prostatic Hypertrophy, Hysterectomy for Menorrhagia or Fibromyoma, Hernia, Hydrocele, Congenital Internal Diseases, Fistula in anus, Piles, Sinusitis and related disorders. If these diseases were pre-existing at the time of Proposal, will not be covered even after first year.  War & Nuclear Peril  Circumcision unless necessary for treatment of a disease not excluded or may be necessitated by an accident, Vaccination or Inoculation or Change of Life or Cosmetic or Aesthetic Treatment of any description, Plastic Surgery other than as may be necessitated due to an accident or as a part of any illness.  Cost of spectacles, contact lens, hearing aids.  Dental treatment or Surgery unless requiring Hosptalisation.  Convalescence, General Debility, Run Down Condition or Rest Cure, Congenital External Diseases or defects or anomalies, Sterility,Venereal diseases, Intentional Self Injury and use of intoxicating Drugs / Alcohol.  All expenses arising out of any condition directly or indirectly caused to or associated with Human T-Cell Lymphotropic Virus Type III (HTLV-III) or Lymphadinopathy Associated Virus (LAV) or the Mutants Derivative or Variations Deficiency Syndrome or any Syndrome or condition of a similar kind commonly referred to as AIDS.  Charges incurred at Hospital / Nursing Home primarily for diagnostics, X-Ray or Laboratory examinations or other diagnostic studies not consistent with the positive existence or presence of any ailment, sickness or injury for which confinement is required at a Hospital/Nursing Home.  Expenses on Vitamins and Tonics unless forming part of treatment.  Treatment arising from Pregnancy (including voluntary termination of Pregnancy) and childbirth (including Caesarian Section).  Naturopathy Treatment

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 AGE LIMIT:
This insurance is available to persons between the age of 5 years and 80 years. Children between the age of 3 months and 5 years of age can be covered provided one or both parents are covered concurrently. Though persons above 75 years have to be avoided if they want coverage on stand-alone basis. However, We will grant coverage to persons above 75 years of age if they are cases of renewals and have been covered with us for a period of at least 3 years.

 CANCELLATION:
The policy may be renewed by mutual consent. The Company is not however bound to give notice that it is due for renewal and the Company may at any time cancel this policy by sending the Insured 30 days notice by registered letter at the Insureds last known address and in such event the Company will refund to the Insured a pro-rata premium for unexpired period of Insurance. The company is, however, liable for any claim which arise prior to the date of cancellation. The Insured may at any time cancel this policy and in such event the company should allow refund of premium after retaining the premium at companys short period rate only provided no claim has occurred upto the date of cancellation.

 EXTENSION OF POLICY PERIOD:

In case the Insured Person who is covered under Medishield Policy has to go abroad for 15 days and accordingly he buys an Overseas Mediclaim Policy for that 15 days and submits the proof of Overseas MEDISHIELD Policy to the company. In that event the period of Insurance in respect of that Insured Person will be extended by 15 days. Alternatively if the Insured person is part of family and/or Group and the period of Insurance is to be same for everyone in the family, then in that case the pro-rata premium for the period when he was abroad will be available as Refund credit to that Insured Person and it can be adjusted against next years renewal premium. However, there will not be Cash refund of the Premium.       Education Cost Ambulance Charges Cost of Travel Cost of Supporting Items Discounts for Reducing Pre and Post Hospitalisation Period Hospital Daily Cash

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Floater Policy Additional Optional Cover for Boarding and Lodging Expenses Inclusion of Pre-existing Diseases and Removal of First Year Exclusions Deletion of Domiciliary Hospitalisation Organisation Floater Extensions under Maternity Benefit Policy

 SWASTHYA KAVACH FAMILY INSURANCE PLAN:

Swasthya Kavach Family insurance plan is available under two broad plans:  Base plan: It mainly targets families who are located in rural areas, small towns and families who would like to cover the family against unforeseen disease or accident in an affordable plan  Wider plan: It is available in two different modes:  Normal Wider plan  Wider Plan with Critical Illness Cover It mainly targets middle class families located in metros who are looking for health care financing at reasonable prices and families who are looking for Health care financing at reasonable prices.

 UNIQUE SELLING PROPOSITION:

 Critical illness gives an option of differential pricing on differential treatment-one can take a low basic Sum Insured for the general ailments and the high critical illness sum insured protects the insurer against more expensive treatments  The critical Illness Cover is a indemnification cover and not a benefit policy- Hence even after the critical illness is detected you continue to get renewals  First Time critical Illness Family Floater cover in India  When compared to IMI with the little more extra than one is required to pay for his own cover, he can cover the entire family  Emergency Assistance service (No competitor is offering this feature)  It is one of the most inexpensive covers you can buy in the target segment of below 45 years

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 POLICY COVERAGE:
In the unfortunate event of the insurer or its family members meeting with an illness or accident resulting in hospitalisation, our Swasthya Kavach (Family Health) Policy gives protection cover for the insurer and his/her family for any injury or disease related contingencies like hospitalization, medical expenses, surgical expenses, organ transplantation, etc. The Policy also offers unique Critical Illness Coverage (Optional) for the family and is available under two variants- Base plan and Wider Plan and covers the following:  Pre-Hospitalisation: Medical expenses incurred 30 days prior to the hospitalization are reimbursed.  Hospitalisation: All expenses including the following reimbursed: Room and board, doctors' fee, intensive care unit charges, nursing expenses, surgical fees, operating theatre expenses, anesthesia and oxygen administration expenses. Room expenses for normal room/ICU limited to 1% /2% of sum insured per day for Base Plan and 1.5%/2.5% of basic sum insured for Wider Plan respectively. There are also restrictions on other hospital expenses in accordance with the room rent under the Base Plan.  Post-Hospitalisation: Once discharged from hospital, the policy shall pay for medical expenses related to the hospitalisation, for a period of 30 days after discharge subject to specified limits under Base Plan and 60 days after discharge under wider plan.  Day care surgeries: The policy covers 121 defined day care surgeries that requires less than 24 hours hospitalisation and ordinarily fall outside the scope of most health insurance policies.  Hospital Daily Allowance: In addition to hospital expenses, a daily allowance will be paid for the period of hospitalisation.  Emergency Assistance Service: In the event of an emergency, assistance services like medical consultation, evaluation and referral, emergency medical evacuation, care for minor children etc are provided.  Local Ambulance Service: In the event of an emergency, cover is provided for expenses incurred on ambulance services to the nearest hospital where Emergency Health facilities are available.

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 General Health Check-up: You will be reimbursed the expenses incurred for general health examination (once in a block of 4 claims free years) Applicable only under Wider Plan  Cumulative bonus : You will be provided with a 5% extra sum insured for every claims free year subject to a maximum of 50% of capital sum insured- Applicable only under Wider Plan  Benefits under Section - 80D: Premium upto Rs. 15,000 is eligible for self, spouse and dependant children with deductions under Section 80D of Income Tax Act, 1961. ITGIs Swasthya Kavach Policy ensures comprehensive coverage by offering value added features, at a nominal increase in premium, like:  Critical illness extension for family: The insurer will be covered for 10 named critical illness for double the basic cover sum insured. 10 Critical Illness include:           Paralytic Stroke Cancer Renal Failure Coronary Artery Disease Major Injuries End Stage Liver Disease Major Burns Coma Major Organ Transplant Multiple Sclerosis

 EMERGENCY ASSISTANCE SERVICES PROVIDER:

       Medical Consultation, Evaluation and Referral Emergency Medical Evacuation Medical Repatriation Transportation to Join Patient Care and/or Transportation of Minor Children Emergency Message Transmission Return of Mortal Remains

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 Emergency Cash Coordination

 EXCLUSIONS:
 Naturopathy, use of Ayurvedic treatment experimental or alternative medicine, procedure and treatment including acupressure, acupuncture, magnetic treatment and such other therapies.  Any diseases or injuries related to hazardous sports like bungee jumping, parasailing, ballooning, parachuting, skydiving, paragliding, hang gliding or rock climbing etc.  Any Genetic disorders.  External medical equipment of any kind used at home as Post Hospitalization care, like wheelchairs, crutches etc.  Treatment of obesity or condition arising there from (including morbid obesity)and any other weight control programe.  First 10% of any admissible claim if he is suffering from either Diabetes or Hypertension and First 25% of the admissible claim amount in case he is suffering from both diabetes and hypertension.  The above provision is applicable only for claims arising out of Diabetes and/or Hypertension.  Diseases which are Pre-existing at inception of the first Policy.  Diseases contracted during the first 30 days of Policy  During the first year of the Policy, the expenses on treatment of diseases such as Tonsillitis/ Adenoids, Gastric or Duodenal Ulcer, Any type of Cyst/ Nodules/ Polyps, Any type of Breast lumps.  During the first two continuous years of the insurance with ITGI, the expenses on treatment of diseases such as Cataract, Benign Prostatic Hypertrophy, Hysterectomy for Menorrhagia or Fibromyoma, Hernia, Hydrocele, Fistula in anus, Piles, Sinusitis, Choletithiasis and Cholecystectomy, Inter- vertebral Disc Prolapse (other than caused by an accident), Osteoarthritis, Varicose Veins / Varicose Ulcers etc.  Cosmetic or aesthetic treatment, general debility, use of intoxicating drugs, intentional self injury.AIDS related expenses, venereal disease, congenital disease

 GROUP/PERSONAL INDIVIDUAL ACCIDENT INSURANCE POLICY:

The Accident Insurance Policy is available both as Individual and Family Package covers and on Group Cover basis. Groups can comprise of employees of an organization and their dependants, members of clubs, societies and associations, holders of deposits/accounts with banks/financial

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institutions/companies, students/teachers of educational institutions etc. The Personal Accident Insurance Policy gives complete protection against all accidental occurrences that might lead to death or bodily injury of the insured person. If the accident leads to the untimely death of the Insured, this Policy will provide complete financial security to the Insured's family members. The Policy also covers eventualities where though the insured person survives an accident, he is crippled for the rest or part of his life. In such cases, the Policy will pay a fixed percentage of Sum Insured depending upon the type of disablement.

 POLICY BENEFITS:
The complete benefit plan under the Policy is given below: Death Loss of both hands or both feet or one hand Loss of one hand/foot and sight of one eye Loss of speech or hearing in both ears Permanent total disability 100% of Sum Insured 100% of Sum Insured 50% of Sum Insured 50% of Sum Insured

100% of Sum Insured

Note: Other benefits for accidents resulting into loss of fingers/toes or any other permanent partial disablement range from 5% to 40% depending on the type of disability. For temporary total disability, 1% of Sum Insured per week is payable subject to a maximum of Rs.6,000/- per week. For that extra protection and relief in those hard times, ITGI's Accident Insurance Policy also gives the following additional benefits:  Education Benefit: In the unfortunate event of death or loss of limbs/eyes or permanent total disablement of the Insured, the education cost of dependant children is covered under the Policy upto specified limits.  Employment Benefit: This cover provides financial compensation upto specified limits in the event of loss of employment of the Insured following an accident resulting in loss of limbs/eyes or permanent total disablement.  Ambulance Benefit: If any accident results in the use of an ambulance by the Insured to reach a hospital, then the Policy will pay the necessary charges upto specified limits.

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 Cumulative Benefit: Under the Policy the Sum Insured amount for the insurer and his/her family members under Individual and Family covers is automatically increased on renewal upto specified limits without payment of any extra premium. Besides these benefits, our Policy also offers benefits, like compensation for clothing damaged in an accident, expenses for carriage of dead body etc.

 EXTENSIONS:
On payment of nominal extra premium, Personal Accident Insurance Policy can also be extended to provide a whole range of additional coverages.  Medical Expenses In addition to the death or disablement benefits, the Policy will provide reimbursement upto specified limits for medical expenses incurred for treatment following an accident.  Cost of Supporting Items If the use of supporting items like crutches, wheelchair, artificial limbs etc. becomes necessary due to injuries sustained in an accident, then the costs are reimbursed upto specified limits.

 Cost of Travel If the Insured is disabled in a place other than his normal residence due to an accident, then we will pay upto specified limits for cost of travel of the injured person for returning home and also for the travel cost of any accompanying friend or relative to join the Insured and for returning home.

 EXCLUSIONS:
      Self injury, suicide, venereal disease or insanity Influence of intoxicating liquor or drugs Death due to pregnancy or childbirth Breach of law with criminal intent War and nuclear group of perils On duty with armed forces

If one is not involved in any activity that is hazardous like aviation, ballooning etc. and is not a member of the armed forces and fall within the specified age limits (5 to70 years), he/she can apply

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for this Policy and get complete protection for themrself and their family members. IFFCO-Tokio's Group Personal accident policy is available to provide for payment of compensation in the event of members of the group:  Sustaining injury, disablement (permanent total, permanent partial and temporary total) or death arising out of accident  That group policies can be given to firm, company, association and clubs on named as well as unnamed basis where all members must be included  That group discount is allowed on size of group at inception of the policy  Additions and deletions can be done during currency of policy for people joining and leaving  The cover is normally available on 24 hour coverage basis  We can offer you discount if you restrict the cover to your employees for on duty cover only or for off- duty cover only  Other benefits like expenses for ambu1ance charges, damage to clothes, loss of employment, expenses for carriage of dead body are admissible- following an accident subject to a limit  Education fund for dependent child is admissible in case death or permanent total disablement