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Compliance u/s 4(1)(b) of the RTI Act, 2005

Information under right to Information act, 2005

  1. Particulars of its organization, functions and duties;
  2. Powers and duties of officers and employees; (28 KB) Word File
  3. Procedure followed in the decision making process, including channels of supervision and accountability;

    The decision making process of the company follows channels :

    • BOARD OF DIRECTORS
    • CHAIRMAN CUM MANAGING DIRECTOR
    • GENERAL MANAGERS
    • EXECUTIVES

    Overall management of the Company is vested with the Board of Directors of the Company. The Board of Directors is the highest decision making body within the company.

    The New India Assurance Company Limited being a Public Sector Undertaking (PSU), the Board of Directors of the company is accountable to the Government of India.

    The powers, which are not delegated, are exercised by the Board of Directors subject to the restrictions and provision of The Companies Act 1956, The Insurance Act 1938, General Insurance Business (Nationalisation) Act 1972 (since amended in 2002), IRDAI Act 1999 and such other acts as are applicable to the insurance industry.

  4. Norms set by the company for discharge of its function; (29 KB) Word File
  5. Rules, Regulations, instructions, manuals and records, held by The New India Assurance Company Limited for use by its employees for discharging their function; (1.04 MB) PDF file Opens in a new window
  6. Statement of the categories of documents that are held by The New India Assurance Company Limited;
    1. Documents pertaining to Incorporation, License etc.
      1. Memorandum and Article of Association
      2. Certificate of Incorporation
      3. IRDAI Licenses.
    2. Documents pertaining to Accounts :
      1. Books of Accounts.
      2. Annual Reports
      3. Documents pertaining to payment of Income Tax, Tax deducted at source.
      4. Vouchers etc.
    3. Documents pertaining to Company Affairs :
      1. Statutory Registers under the Companies Act 1956.
      2. Statutory Registers under other applicable acts.
      3. Annual Returns under Companies Act.
      4. Returns and Forms under the Companies Act filed with the Registrar of Companies etc.
    4. Documents pertaining to Board Meeting & General Meetings :
      1. Agenda papers of board meetings.
      2. Minutes book of meeting of the Board of Directors.
      3. Agenda papers of Board Sub-Committees.
      4. Minutes book of meetings of Board Sub-Committees.
      5. Minutes book of General Meetings of the shareholders etc.
    5. Guidelines/Manuals :
      1. Underwriting manual.
      2. Claims Manual.
      3. Personnel Manual.
      4. Audit Manual
      5. Conduct, Discipline and Appeal Rules 2014. (342 KB) Word File
      6. Financial authority, powers and limits.
  7. The New India Assurance Company Limited is a non life insurance company. The Policies relating to internal management are framed in accordance with governing statutes, regulations and Memorandum and Articles of Association of the Company. There is no arrangement in consultation with members of the public prior to their formulation.

    However, if people dealing with the company in its business transactions have complaints or grievances, they can approach the customer service department or send their complaints or grievances to customercare.ho@newindia.co.in

  8. Particulars of any arrangement that exists for consultation with or representation by, the members of the public in relation to the formulation of its policy or Implementation thereof;
  9. Statement of boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice, and as it whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public;

    View the Board of Directors

    Different Committees of Board :

    1. Investment Committee (IC)
    2. Audit Committee (AC)
    3. Risk Management Committee (RMC)
    4. Policyholders Protection Committee (PPC)
    5. Remuneration Committee (REMC)
    6. Information Technology Committee (ITC)
    7. Property Review Committee (PRC)

    None of the meetings of the Board of Directors or Committees are open to public and the minutes of such meetings are also not accessible to the public.

  10. Directory of key officers and employees;
  11. Monthly remuneration (Pay scales) received by each of its officers and employees, including the system of compensation as provided in its regulations; (46 KB) Word File
  12. Budget Allocation and Expenditure;
  13. Manner of execution of subsidy programmes, including the amounts allocated and the details of Beneficiaries of such programmes; THE NEW INDIA ASSURANCE COMPANY LIMITED DOES NOT UNDERTAKE ANY SUBSIDY PROGRAMME UNDER CSR.
  14. Particulars of Recipients of Concessions, permits or Authorizations granted by it; THE NEW INDIA ASSURANCE CO. LTD. DOES NOT GRANT ANY CONCESSION PERMITS OR AUTHORIZATION.
  15. Details of Information Available or Held in Electronic Form;
  16. Particulars of Facilities Available to Citizens for obtaining Information Particulars of Facilities Available To Citizens for Obtaining Information. The New India Assurance Co. Limited is maintaining a website by the name of www.newindia.co.in . Any citizen can visit this website for desired information. If the required information is not available in the website they can write to the company seeking the required information. If the required information is available and can be provided the same will be provided within reasonable time.
    Customer Support:
    Customercare.ho@newindia.co.in
    Any citizen can visit any of the offices of The New India Assurance Company Limited for desired information. They can meet the Central Public Information officer at Head Office, Mumbai and the Public Information Officers at the Regional Offices on the company.
    Interested people can also send letters or emails to the Company seeking the desired (available) information.
    Presently The New India Assurance Company Limited does not have any Library Facility for general public.
    ADDRESS OF THE REGISTERED OFFICE:
    The New India Assurance Co. Ltd.
    New India Assurance Building, 87, M.G. Road,
    Fort, Mumbai 400 001
    Phone: 022 - 22708100
    Website: www.newindia.co.in
  17. Names, Designation and Phone Numbers of Central Public Information Officers.