No Claim Bonus (NCB) is a reward offered by insurance companies to policyholders for not making any claims during the policy year. It is a discount on the premium for the following year and is commonly associated with vehicle insurance, although it can also apply to health insurance. How Does NCB Work? When you do […]
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Claim Settlement Ratio (CSR) is a crucial metric in the insurance industry that reflects the reliability of an insurance company in honoring claims made by policyholders. It represents the percentage of claims that an insurer successfully settles out of the total claims received during a specific period, usually a financial year. For example, if an
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Introduction to First-Party Car Insurance First-party car insurance, often referred to as comprehensive car insurance, is designed to cover damages to your own vehicle in case of accidents, theft, natural disasters, or vandalism. Choosing the right first-party insurance policy is crucial to ensure that your car is adequately protected while also providing you with financial
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Introduction to First-Party Insurance First-party insurance is a type of insurance policy that provides coverage for the policyholder’s own losses or damages. Unlike third-party insurance, which covers damages caused to others, first-party insurance is designed to protect your own property, health, or other interests. This type of insurance ensures that you receive compensation directly from
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Introduction to Third-Party Insurance Third-party insurance is a type of insurance policy that provides coverage for damages or losses caused by the insured to another person or property. It is a legal requirement in many countries, including India, for vehicle owners to have third-party insurance before they can drive on public roads. This type of
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