Non-Life Insurance Companies Sample Clauses

Non-Life Insurance Companies. The General insurance industry was nationalized in 1972 and 107 insurers were amalgamated and grouped into four Companies – National Insurance Co. Ltd., The New India Assurance Co. Ltd., The Oriental Insurance Co. Ltd. and United India Insurance Co. Ltd. The four entities were set up as subsidiaries of General Insurance Corporation of India (GIC) which also played the role of Re-insurer. As a part of liberalization process, with the enactment of IRDA Act, 1999, it became necessary to nominate Indian Re-Insurer under Insurance Act, 1938. GIC was, therefore, notified as Indian Re-Insurer on 3rd November, 2000 under Section 35 of GIBNA Act, 1972. Through enactment of the General Insurance Business (Nationalization) Amendment Act, 2002, the four Public Sector General Insurance Companies (PSGICs) were delinked from GIC and the holdings of GIC in the four Public Sector General Insurance Companies (PSGICs) were transferred to the Government. Presently, all the four Public Sector General Insurance Companies are Board run Companies. The detailed particulars of the four Public Sector General Insurance Companies are as follows:-
Sample 1
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Related to Non-Life Insurance Companies

  • Insurance Companies Insurance required hereunder shall be in companies duly licensed to transact business in the State of Washington, and maintaining during the policy term a General Policyholders Rating of ‘A-’ or better and a financial rating of ‘IX’ or better, as set forth in the most current issue of “Best’s Insurance Guide.”

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • HEALTH AND LIFE INSURANCE The Sheriff will continue to offer to employees of this bargaining unit the same health and life insurance programs being offered to other Sheriff’s Office employees. Due to the changing nature of the health insurance market, the Sheriff retains the right during the term of this Agreement to develop plan changes or to change carriers in order to reduce costs or for other reasons. Changes to the level and types of benefits shall be subject to bargaining as provided by law. Rates paid by the employee will be established by the Sheriff.

  • Hospitals of Ontario Voluntary Life Insurance Plan The Hospital also agrees to make the Hospitals of Ontario Voluntary Life Insurance Plan (HOOVLIP) available to the nurses subject to the provisions of HOOVLIP at no cost to the Hospital.

  • Group Life Insurance Plan Section 1 - Eligibility Regular full-time and regular part-time employees who are on staff January 1, 1979 or who join the staff following this date shall, upon completion of the three-month probationary period, become members of the Group Life Insurance Plan as a condition of employment.

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. Such insurance shall pay double in the case of accidental death or dismemberment.

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