Financial Year 2012-13 (27 MB) - The New India Assurance Co. Ltd.

Leadership and BeyondThe company has been participating as a sponsor in various Customer Seminars and Awareness Camps to expandour customer base by educating the client on the services/products provided by the organization. Banner displaysin various regional festivals, fairs, exhibitions, musical and cultural events have enhanced company’s presencewithin the masses and helped us in getting wide mileage.RIGHT TO INFORMATION ACTThe Central Public Information Cell set up at Head Office in 2005 continued to process the requests for informationas well as disposal of appeals promptly and efficiently. The cell continues to put the company in a high image oftransparency and accountability keeping in conformity with the grand objectives of the RTI Act. The Central PublicInformation Officers (CPIOs) of 28 Regional Offices also joined the campaign for promoting the ideals of the Actunder the umbrella of CPI Cell at Head Office.With a view to maintaining uniformity, consistency and improved standard of approach the function of FAA wascentralized at Head Office w.e.f. 1st June 2012 and has been vested in the rank of Deputy General Manager.In compliance with the directive of CIC, company has appointed Transparency Officer in the rank of GeneralManager to monitor proper implementation of the mandate of RTI Act. Maximum information on website u/s 4(1)(b) has been uploaded.The CPI Cell, Head Office has arranged various workshops for CPIOs, Office-in-charges and other officers ofRegional Offices wherein they were sensitized on the latest amendments in the RTI Act and landmark decisionsgiven by the honorable Supreme Court, High Courts and CIC, New Delhi. This was done to educate and assistthem in taking reasoned, appropriate as well as time bound decisions as stipulated in the Act.Performance in 2012-13 :RequestsFirstAppealsSecondAppealsat CICOpening balance as on 01.04.2012 102 9Received during the year including case transferred to other Public Authorities 2478 362 115No. of cases transferred to Public Authorities 105 - -Decisions where request/appeals rejected 300 58 -Decisions where requests/appeals disposed off 2131 313 115Closing balance as on 31.03.2013 44 0 0During the financial year, company received 3 show cause notices for penalty from CIC, New Delhi, which werewell argued and finally 2 were waived off.ANTI MONEY LAUNDERINGThe company has been complying with the Prevention of Money Laundering Act (PMLA) 2002 since it has beenmade applicable to insurance companies w.e.f. 01.08.2006. Amendments issued by IRDA are adopted by the boardfrom time to time. The Principal Compliance Officer posted at Corporate Office monitors the compliance of AMLguidelines.ANNUAL REPORT49