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August 8th, 2016, 06:04 PM
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IFFCO Tokio NCB
Can you tell me under what circumstances No Claim Bonus (NCB) is allowed by IFFCO-Tokio General Insurance? IFFCO-Tokio General Insurance was incorporated in 2000 to be a 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 which is also the largest listed insurance group in Japan. Circumstances under which No Claim Bonus (NCB) is allowed by IFFCO-Tokio General Insurance: • It is a reward for No claim in the previous year. It can be accumulated over a period of time • Starts with 20% and goes up to 50% • NCB becomes Nil in case of a Claim • NCB follows the fortunes of the customer and not the vehicle • Validity - 90 days from the date of Expiry of the policy • NCB can be utilised within 3 years (where the existing vehicle is sold and a new car is purchased) • NCB recovery to be done in case of a Name Transfer • NCB gets transferred to the legal heir in case of Death of customer • NCB can be transferred to the New vehicle in case of Substitution of vehicle of the same class • NCB earned abroad can be given in India Board of Directors Chairman • Mr. K. Srinivasa Gowda Vice Chairman • Mr. Lee King Chi Arthur Directors • Mr. Balwinder Singh Nakai • Dr. U. S. Awasthi • Mr. Rakesh Kapur • Dr. P. S. Gahlaut • Mrs. Mira Mehrishi • Mr. Sudhakar Rao • Mr. Ashwani Kumar • Mr. Hiroshi Yasui • Mr. H. O. Suri Managing Director & CEO • Mr. Yogesh Lohiya Last edited by Neelurk; June 29th, 2020 at 12:30 PM. |
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