Categories
- Various categories of insurance services managed by CSC SPV are as follows:
- a. Motor comprehensive
- b. Motor Third Party Insurance
Life Insurance
Insurance policy promises to pay a pre-decided amount in case of death of the insured person or in case of survival of the insured person up to a pre-decided time period.
Life Insurance policy is a long-term contract and needs to be renewed by continuous payment of Premium, called Renewal Premium, to keep the policy in force.
General Insurance
These are typically short-term contracts of 1 year. Several products which are included under general insurance are:
i. Motor Insurance- Motor insurance is governed by two ways:
ii. Fire/property insurance
iii. Travel Insurance
iv. Personal accident insurance
Health Insurance
Health Insurance policies are typically short term (1 year) contracts and cover medical expenses incurred by insured in case of hospitalization due to unforeseen circumstances.
Crop Insurance
It acts as a safeguard for farmer income and indemnifies crop loss due to uncertain weather conditions.
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a flagship scheme launched by the Government of India in 2016 on the theme of One-Nation-One-Scheme. The Insurance Regulatory and Development Authority of India (IRDAI) and Ministry of Agriculture authorized CSC SPV to enroll farmers across India under PMFBY.