What are the 7 main types of insurance?
What are the 7 main types of insurance?
7 Types of Insurance are; Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance. Insurance is categorized based on risk, type, and hazards.
What should be the IDV?
Normally, the depreciation of a new car is 5 per cent, hence by default, the maximum IDV should be 95% of the ex-showroom price of the car.”” The moment you take your car outside the showroom, the IDV starts to come down. “”The value of a car depreciates by 5 per cent within six months of buying it.
Which insurance company has the highest claim settlement ratio?
The highest claim settlement ratio is of the public insurance company LIC at 98.31%. The report published by IRDAI also revealed that the total benefit amount for the year 2016-17 is Rs. 13,850.62 crore.
