CAG seeks probe into insurance for WLL services
Category: News | No Comments | Posted on May 7, 2005
Insuring mobile phones used for WLL services of Reliance Industries and Tata Teleservices by the National Insurance Company (NIC) and the Oriental Insurance Company have come under attack from the Comptroller and Auditor General (CAG).
The CAG has said that NIC has run up claims of Rs 253 crore against a premium income of only Rs 89 crore, while Oriental Insurance Company, will have to shell out Rs 33.45 crore in claims.
But the CAG report says the two public sector insurance companies, faced heavy losses, as the risks were underwritten “without careful evaluation of the risk involved and other technical aspects.
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VeerChand Bothra
Entrepreneur, Mobile Marketer, Social Media enthusiast, Mobile Monday Mumbai founder
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