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NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy

NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy

NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy: In order to offer a complete car insurance policy, New India Assurance (NIA) has launched a “Pay as You Drive” (PAYD) policy that bases the price on how often the vehicle is used. The policy has two components- Third Party cover and own-damage cover.

February 2023 Current Affairs Quiz

NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy – Key Points

About New India Assurance

The New India Assurance Co. Ltd is a central public sector undertaking under the ownership of the Ministry of Finance, Government of India. It is based in Mumbai, Maharashtra. It is the largest nationalized general insurance company in India based on gross premium collection inclusive of foreign operations. It was founded by Sir Dorabji Tata in 1919 and was nationalized in 1973.

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