The General Insurance Corporation was set up in 1973, with four subsidiary operating companies.GIC has been a crucial hand-maiden of the country's economic thrust. Together with its four subsidiaries, it serves the traditional, industrial, commercial, financial and household sectors of the economy.
GIC offers a wide and diverse mix of traditional and non-traditional insurance covers - many of which are unheard of anywhere else in the world. From small cottage industries to massive petrochemical complexes, rigs and satellites. From professional indemnity covers to schemes relating to employee welfare, policies covering almost every conceivable peril and asset - prawns, silkworms or even failed wells.
GIC's technical and underwriting skill has also been recognised internationally. GIC's international operations span 31 countries around the globe. GIC's ability to cover such as public liability, product liability, losses in voyage and transits and consequential loss of profits of enterprises affected by insured perils besides high-tech risks in aviation, shipping, mineral and oil exploration, space exploration, nuclear power, etc., are drawn from its professional expertise in direct and reinsurance operations.
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