04/01/2014
HDFC ERGO General Insurance Company Limited is an Indian assurance firm.
HDFC ERGO’s assurance schemes targeting individuals include
MOTOR INSURANCE
HEALTH INSURANCE
TRAVEL INSURANCE
PERSONAL ACCIDENT
HOME INSURANCE
COMMERCIAL INSURANCE
RURAL INSURANCE
CLAIM
HDFC ERGO operates 71 cities with 80 branch offices. The firm has approximately 1,100 staff-members. The company is rated ‘i AAA’ by ICRA Limited.
The company also has ISO certification for its claim services
HDFC ERGO sells health, vehicle, home, accident, commercial and rural assurance.
It provided $15 million worth of cover in collaboration with Ace Insurance Brokers for the first formula one race held in New Delhi India. This included assurance against adverse weather, non-appearance of teams, riots, strikes and civil commotion leading to cancellation of the event, its postponement or relocation.
HDFC Ergo to provide $15m cover to Formula 1
PTI Oct 17, 2011, 09.20pm IST
Tags: Posted on Economics Times
HDFC ERGO|
ERGO International AG
Ace Insurance Brokers
MUMBAI: Private general insurance company HDFC Ergo, in collaboration with the Delhi-based Ace Insurance Brokers, will provide an insurance cover of USD 15 million (Rs 67.5 crore) to the Formula 1 Race, which is being organised in the Capital from the month end, the company said today.
“The insurance cover would protect the Formula 1 Grand Prix event against adverse weather, non-appearance of several teams, riots, strikes and civil commotion leading to cancellation of the event, its postponement or relocation,” it said in a statement.
HDFC Ergo, which is a 74:26 joint venture between the mortgage leader HDFC and Ergo International AG, is the lead insurer for the event, it added.
Commenting on the deal, Anuj Tyagi, Head, Corporate and Rural & Agri Busines of HDFC Ergo said, “insuring such a high- profile event in a country like ours is a great learning experience.”
As per the company, the organisers would write off the costs including deposits, advertising, printing costs, and booking fees among others in case of cancellation of the event.
“A policy like event cancellation insurance policy is a savior for the organisers because it pays any irrecoverable cost or expense, which have been or will be incurred in connection with the event, following a cancellation, interruption, postponement or relocation due to any of the insured perils,” Director of Ace Insurance Brokers,
