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Two-wheeler insurance is a type of insurance that is mandatory in India. Falling under the General insurance product category, it helps protect people against accidents that take place on the road. Active two wheeler insurance shields the vehicle owner from any unforeseen occurrences like the accident or any serious damage to the motor vehicle.
Commercial insurance for vehicles owned or operated by businesses functions quite similarly to private auto insurance, except that personal use of the vehicle is not covered. Commercial insurance pricing is also usually higher than private insurance, due to the expanded types of coverage offered for commercial users. [2]
ICICI Lombard General Insurance is the largest private-sector general insurance company in India. [ 5 ] In a 2016 fiscal, ICICI Bank sold a 9.0% stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at a company valuation of ₹ 172.25 billion (equivalent to ₹ 250 billion or US$2.8 billion in 2023). [ 6 ]
The Insurance Information and Enforcement System is a system used, in the United States, by many Department of Motor Vehicles agencies to track people who might be driving without automobile insurance.
The vacancy rate at the Department of Insurance is 14.7%, according to November 2023 data from OSHR. Is there an issue on which you disagree with your party? What is your position on that issue?
While the long-term insurance policy is 3 years for four-wheelers, it is 5 years for two-wheelers. The following guidelines are issued to implement the Supreme Court guidelines via a circular issued to insurers under Section 14(2) of the Insurance Regulatory and Development Agency of India Act, 1999, effective September 1, 2018. [7]
General insurance can be categorised in to following: Motor Insurance: Motor Insurance can be divided into two groups, two and four wheeled vehicle insurance.; Health insurance: Common types of health insurance includes: individual health insurance, family floater health insurance, comprehensive health insurance and critical illness insurance.
Harleysville was started by Alvin C. Alderfer because he and many automobile owners had no way of insuring against the risk of theft. Within two years he received an order from the state of Pennsylvania's Department of Insurance that he had to either disband the association or charter it according to the states regulations.