Tata AIG's spl insurance cover for IT/ITes cos

Mumbai, Apr 19: The Tata AIG General Insurance Company today launched the ''General Insurance Version 2007'', a comprehensive range of innovative insurance solutions, specially customized for the needs of the Information Technology (IT) and IT-Enabled Services (ITes) companies.

''The Indian IT industry has achieved remarkable growth during the last two decades. From the commencement of our operations, we have been at the forefront of delivering speciality products to the IT industry; however our close contact with them has shown to us that the industry requires certain specialized coverages even within the standard products. This suite is the result of extensive research and development and interaction with the IT industry to know their requirements,'' Tata AIG Chief Operating Officier Michael Carlin said.

''Our objective in launching 'General Insurance Version 2007' is to create a vertical division with 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 a long way in meeting the hitherto unaddressed needs of the IT and ITES sector under a single window approach,'' he added.

Tata AIG General Insurance Company (Tata AIG) is a joint venture between the Tata Group and American International Group, Inc (AIG).

The Tata Group holds 74 per cent stake in Tata AIG, while AIG holds the balance 26 per cent stake, an official statement said.

Tata AIG had started its operations in India on January 22, 2001 offering a wide range of insurance covers for automobile, home, personal accident, travel, energy, marine, property and casualty, as well as several specialized financial lines.

The Tata Group, one of India's largest business conglomerates, has 32 publicly listed enterprises including Tata Steel, Tata Consultancy Services, Tata Motors and Tata Tea. American International Group Inc (AIG) are engaged in providing insurance and financial services in more than 130 countries. AIG's stock is listed in the US New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo, the statement added.

UNI