Tata AIG General insurance package for IT / ITeS sector

Mumbai: Tata AIG General Insurance Company has announced the launch of a comprehensive insurance package for the IT / ITeS companies.

Michael Carlin, COO, Tata AIG General, says, "From the commencement of our operations we have been at the forefront of delivering speciality products to the IT industry. Our close contact with them has shown to us that the industry requires certain specialised coverages even within the standard products. This suite is the result of extensive research and development and interaction with the IT industry of their requirements.

Our objective in launching 'General Insurance Version 2007' is to create a vertical division with a special focus on the IT industry and provide them with requisite insurance and advisory services. We are confident that this suite of products will go along way in meeting the hitherto unaddressed needs of the IT and ITeS sector under a single window approach."

Some highlights of the package:

• Fire policies for offices with extensions for rent for alternate accommodation
• Overseas Mediclaim insurance facility, which allows the employee to purchase travel days liberating from the complications of traditional, travel policies
• Public Liability policies on international CGL wording with worldwide jurisdiction and extensions for employees working at client premises
• Directors and officers policies covering allegations of discrimination or unfair termination against the company.
• The package also has a scheme whereby employees can opt for voluntary accident benefits cover for themselves and their families operating as salary deductions thus indirectly assisting in talent retention.

The company says for smaller IT and ITeS companies with assets below Rs5 crore, which face similar risks it offers a modular policy with a comprehensive coverage.