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NICL is not a sinking vessel, insists Iqbalpuri

Chairman of National Insurance Corporation (NICL), Tariq Iqbalpuri, has said, "We would earn a profit of Rs 3 billion and our premium target for the current financial year is fixed at Rs 6.5 billion. NICL is not a sinking vessel and its future is bright, he added.

Talking to newsmen here on Tuesday Iqbalpuri said that under the directives of Federal Government, Crop Loan Insurance has been launched from Rabi season 2008-2009, which is now expanding to every nook and corner of the country. Premium of subsistence farmers for five major crops, ie wheat, cotton, sugarcane, rice and maze, was being reimbursed by the government. He said that NICL has developed comprehensive Agri-Loan Insurance schemes for production, development and livestock loans.

It covers the aircraft itself for accidental damage or loss from whatsoever cause operating anywhere in the world subject to certain terms and conditions. Marine cargo insurance protects all goods while in transit depending upon the needs of a client, as per Marine Institute Cargo clauses whether cargo shipped by sea, air or by land, as well as General Average when declared.

This policy provides coverage against loss of money whilst in transit due to forcible, violent, external and visible means and coverage to cash whilst on premises against loss by theft arising due to actual forcible and violent entry upon the premises. He said that Travelling is fun and exciting, but sometimes unannounced events can mar your pleasure. Any unfortunate act including terrorism can strike without warning resulting in hospitalisation, disability and even death. We at NICL are ready to provide you security on such events so that you can spend the time with peace of mind.

Since inception in 1976 till date we are leaders in commercial Insurance, NICL has continued to emphasise quality products and services at the best rate. Our dedication, strength, stability, and performance are reflected in our "A" (Excellent) rating.

Copyright Business Recorder, 2011