In the ever-evolving landscape of India’s financial ecosystem, few names carry the weight of history, reliability, and public trust like National Insurance Company Limited (NICL). For over a century, this Government-owned general insurer has stood as a pillar of financial security for individuals, families, and businesses across the country.
Founded in 1906 and headquartered in Kolkata, NICL is one of the oldest general insurance companies in India. As a public sector undertaking under the Ministry of Finance, it has played a pivotal role in shaping India’s non-life insurance segment, reaching even the remotest corners of the nation.
Today, NICL offers a wide range of general insurance products — from car and health insurance to travel, rural, and industrial policies. With a pan-India presence and strong digital capabilities, it blends legacy and modernity in a way few insurers can match.
Company Background
NICL began its journey in Kolkata as a private entity during British rule. In 1972, it became part of the four subsidiaries under the General Insurance Corporation (GIC) after the nationalisation of the general insurance sector. Later in 2002, following regulatory restructuring, NICL was de-linked from GIC and started operating as an independent public sector general insurer.
Since then, the company has consistently demonstrated operational excellence, social responsibility, and wide product coverage, making it a cornerstone in India’s insurance landscape.
Timeline of Growth and Evolution
- 1906: Incorporated in Kolkata as a private general insurance firm.
- 1972: Became a government-owned company after the nationalisation of general insurance.
- 2002: Became an autonomous entity under the Ministry of Finance.
- 2010: Surpassed ₹10,000 crore in Gross Written Premium (GWP).
- 2017–2023: Deepened digital infrastructure, improved claims turnaround, and focused on rural inclusion.
- 2024: Recognised as one of the top public sector insurers by premium volume and policy count.
Key Milestones and Highlights
- Presence in Nepal and UAE, in addition to all Indian states.
- Network of 3200+ offices, including rural and Tier III locations.
- Over 25 million policyholders and a rising digital customer base.
- Launch of Office-on-Wheels to deliver doorstep insurance services
- One of the first Indian insurers to offer agriculture and rural-centric products.
Mission and Vision
Mission:
To provide comprehensive general insurance solutions with speed, sensitivity, and integrity while ensuring affordability and accessibility for all Indians.
Vision:
To be a globally recognised general insurer known for service quality, product innovation, and financial inclusion.
Why Choose National Insurance Company?
- Legacy That Inspires Confidence
With over 118 years of service, NICL is a brand rooted in public trust. This legacy isn’t just historical — it translates to real-world experience, better underwriting, and stronger customer relationships.
- Government-Backed Security
As a PSU, NICL enjoys the backing of the Government of India, ensuring a high degree of financial stability. In times of uncertainty, customers know their claims and policies are in safe hands.
- Broad and Inclusive Product Line
Whether you need protection for your car, home, health, shop, farm, or factory, NICL has a policy for it. Few insurers can offer such product diversity under one roof.
- Deep Rural and Urban Penetration
NICL reaches the last mile with its extensive network. Whether you live in Mumbai or a remote village in Assam, you can access insurance with equal ease.
- Affordable Premiums with Rich Benefits
NICL’s policies are competitively priced without cutting corners. Especially in rural and government-linked schemes, it offers high coverage at subsidised premiums.
- Efficient Claim Settlement
NICL has streamlined its claims process with digital submissions, dedicated officers, and strong back-end analytics. Claims are processed quickly and fairly.
- Technological Advancement
From mobile apps to online policy issuance, the insurer is embracing digitisation. This enables customers to purchase, renew, and track their policies anytime, anywhere.
- Social Commitment
NICL supports inclusive growth through government schemes like PMFBY (crop insurance) and Ayushman Bharat-linked covers. It helps India’s most vulnerable population feel secure.
Product Portfolio
- Car Insurance
Overview
NICL offers comprehensive car insurance plans that cover both personal vehicles and commercial use. Plans include mandatory third-party cover and extensive own-damage protection.
Types of Plans
- Third-Party Liability: Compulsory under Indian law; covers damage or injury caused to third parties.
- Comprehensive Policy: Includes both own vehicle damage and third-party coverage.
- Standalone OD Policy: Only for own-damage cover, for vehicles already covered under TP.
What Is Covered
- Accidental damage
- Theft or burglary
- Fire and explosion
- Natural calamities
- Personal accident cover for driver
What Is Not Covered
- Driving without a valid licence
- Alcohol or drug-related incidents
- Wear and tear
- Mechanical breakdowns
- Use outside geographical area
- Health Insurance
Overview
NICL provides individual and family floater health policies that help cover hospitalisation, treatment, and emergencies. Options are suitable for different age groups and health needs.
Types of Plans
- National Mediclaim Policy: Basic hospitalisation for individuals.
- National Mediclaim Plus: Additional features like maternity and critical illness.
- Parivar Mediclaim: Affordable family floater plan.
What Is Covered
- In-patient treatment
- Pre and post-hospitalisation
- Daycare procedures
- Organ donor expenses
- Domiciliary hospitalisation
What Is Not Covered
- Cosmetic surgeries
- Non-allopathic treatments (unless specified)
- Dental and vision without accident
- Treatment during initial waiting period
- Self-inflicted injuries
- Two-Wheeler Insurance
Overview
NICL offers affordable and flexible plans for bikes and scooters with comprehensive and third-party coverage.
Types of Plans
- Third-Party Cover: Covers legal liability towards third-party injury or property damage.
- Comprehensive Cover: Own-damage plus third-party cover.
- Long-Term Policy: 2–3 year protection for new vehicles.
What Is Covered
- Theft or total loss
- Fire or explosion
- Accidental damage
- Floods, storms, earthquakes
- Personal accident to owner
What Is Not Covered
- Racing or reckless driving
- Use for commercial purposes (unless declared)
- Damage during war or nuclear events
- Mechanical or electrical faults
- Invalid documentation
- Travel Insurance
Overview
Comprehensive travel plans that offer protection during domestic and international trips, business tours, or student exchanges.
Types of Plans
- Overseas Mediclaim (Business/Leisure)
- Student Travel Plan
- Domestic Travel Insurance
What Is Covered
- Medical emergencies
- Baggage loss
- Trip cancellation
- Personal accident
- Passport and document loss
What Is Not Covered
- Pre-existing conditions
- Injuries during adventure sports
- Travelling without valid documents
- Mental or psychological disorders
- Participation in unlawful acts
- Home Insurance
Overview
Protects your residential property and household contents against a wide range of perils.
Types of Plans
- Standard Fire & Special Perils Policy
- Householder’s Insurance
- Contents-Only Cover
What Is Covered
- Fire, explosion, and lightning
- Burglary and housebreaking
- Earthquakes and floods
- Riot or civil unrest
- Damage to electrical appliances
What Is Not Covered
- War-related damages
- Construction flaws
- Damage due to negligence
- Wear and tear
- Property under illegal usage
- Personal Accident Insurance
Overview
NICL’s Personal Accident Insurance gives financial support in case of accidental death or disability.
Types of Plans
- Individual Personal Accident
- Group Personal Accident
- Janata Personal Accident (for rural areas)
What Is Covered
- Accidental death
- Permanent disability
- Temporary total disability
- Medical expenses (optional add-on)
- Repatriation of remains
What Is Not Covered
- Intentional self-injury
- Alcohol/drug-related incidents
- Adventure sports
- Existing disabilities
- Illness-related claims
- Industrial Insurance
Overview
NICL offers solutions for industrial units, covering everything from factory buildings to machinery.
Types of Plans
- Industrial All-Risk Policy
- Machinery Breakdown Insurance
- Boiler and Pressure Plant Cover
What Is Covered
- Fire and natural disasters
- Machinery failure
- Theft and sabotage
- Business interruption (optional)
- Third-party property damage
What Is Not Covered
- Defective design
- Lack of maintenance
- Known defects before policy
- Operational losses
- Unauthorised modifications
- Commercial Insurance
Overview
NICL supports small and large businesses with tailored commercial insurance packages.
Types of Plans
- Shopkeepers’ Package Policy
- Office Package Insurance
- Commercial Vehicle Insurance
What Is Covered
- Property damage
- Stock loss
- Employee and customer liability
- Equipment damage
- Loss of income
What Is Not Covered
- Financial fraud
- Policy exclusions
- Deliberate damage
- Illegal operations
- Market loss
- Rural Insurance
Overview
NICL is one of the few insurers with a strong focus on rural India.
Types of Plans
- Cattle and Livestock Insurance
- Crop Insurance (PMFBY)
- Gramin Personal Accident Insurance
What Is Covered
- Animal death or injury
- Crop loss due to climate change
- Flood/fire damage to rural assets
- Personal accidents for rural workers
- Input cost losses
What Is Not Covered
- Non-registered livestock
- Pest infestations not covered
- Delay in intimation
- Breach of farming standards
- Intentional harm to assets
Claims Process
NICL ensures that claim processing is transparent and fast, both online and offline.
Step-by-Step
- Report the claim immediately via branch, website, or toll-free.
- Submit claim form and required documents.
- Surveyor is appointed to assess damage.
- Evaluation and processing by NICL.
- Claim settled directly to the policyholder’s account.
Renewal Process
Policies can be renewed online or via branch offices, ensuring continuity of coverage.
Step-by-Step
- Visit the official NICL website or app.
- Enter policy number and verification details.
- Check and modify policy options if needed.
- Make secure online payment.
- Receive renewed policy instantly via email.
Distribution Network
NICL operates one of the largest insurance networks in India:
- Over 3,200 branches
- Thousands of licensed agents and brokers
- Offices in Nepal and Dubai
Community Engagement & Financial Literacy
- Insurance awareness drives in rural India
- School programs on health and accident safety
- Financial literacy camps in Tier II/III towns
Green Insurance Initiatives
- Paperless e-policies
- Carbon offset initiatives
- Digital grievance redressal
Health and Wellness Campaigns
- Free medical check-ups
- Discounts on diagnostic services
- Health insurance education in public schools
Awards and Recognitions
- Best PSU Insurer by leading industry bodies
- ISO 9001:2015 certified operations
- Recognised for financial inclusion in rural India
- High ratings for financial strength and solvency
Final Thoughts:
National Insurance Company Limited is more than just an insurer — it is a national institution. With a legacy of over 100 years, it continues to evolve with time, embracing technology, driving financial inclusion, and serving all segments of society.
From comprehensive urban insurance solutions to rural outreach, NICL offers unmatched coverage, service reliability, and public trust. For anyone looking to secure their health, home, vehicle, business, or livelihood — National Insurance is a name to trust and a partner to depend on.
