Noel Manuel
Dimapur | February 23
India’s largest insurance company, covering everything except life, has run out of funds and claimants with an amount as low as 10,000 are being told to bear with the company.
The branch office of the New India Assurance Company, a government of India undertaking, turned away a claimant on Friday on the grounds that the company was out of funds and would only be able to clear the amount the coming week.
The claimant of policy number 530501/31/07/01/00002617 claims that he was being put through undue harassment by the company officials, demanding one document or the other over the last one week. Finally, after everything had been produced, the claimant was told that the company was out of funds and the claim would only be settled after funds arrived from the head office.
The development officer later called up the claimant and said that if the money was ‘needed’ it could be arranged. The claimant furious with the word ‘needed’ said that he was ‘entitled’ to the amount. ‘The company is in no way doing a favour or offering a donation to me,’ he said.
The New India Assurance office at Circular road is the only branch in the state and having the highest number of insurance policy holders.
