1. Introduction – National Insurance Company Limited
National Insurance Company (NICL), Pakistan is a reputable insurance company that provides complete coverage to people, corporations, and the government. NICL was founded in 2000 and operates within the regulatory frameworks of SECP and IAP. With its headquarters in Karachi and a statewide presence, NICL has established itself as a customer-focused leader in Pakistan’s insurance industry.
- 1. Introduction – National Insurance Company Limited
- 2. Briefs – National Insurance Company
- 3. Foundation – National Insurance Company
- 4. National Insurance Company Limited, Pakistan – Intro Video
- 5. Type of Insurances – National Insurance Company Limited, Pakistan
- 5.1 Aviation Insurance – National Insurance Company
- 5.2 Engineering Insurance – National Insurance Company
- 5.3 Fire Insurance – National Insurance Company
- 5.4 Marine Hull Insurance – National Insurance Company
- 5.5 Marine Cargo Insurance – National Insurance Company
- 5.6 Motor Insurance – National Insurance Company
- 5.7 Crop Insurance – National Insurance Company
- 5.8 Travel Insurance – National Insurance Company
- 5.9 Miscellaneous Insurance – National Insurance Company
- 6. Required Documents – National Insurance Company
- 7. Branches in Various Cities – National Insurance Company
- 8. Board of Directors – National Insurance Company
- 9. Associated Clients – National Insurance Company Limited
- 10. Online Helpline – National Insurance Company Limited
- 11. Verification – National Insurance Company Limited, Pakistan
- 12. Disclaimer – National Insurance Corporation
1.1 Range of Insurance Products
National Insurance Company Limited (NICL) offers diverse insurance products tailored to specific needs:
- Policies that cover accidents, theft, and liability.
- Fire Insurance: Protection for commercial, industrial, and residential properties against fire risks.
- Marine Insurance: Coverage for cargo, hull, and related risks during transportation,
- Health Insurance: Financial coverage for medical expenses, hospitalization, and healthcare services.
- Travel Insurance: Trip cancellation insurance, medical emergencies, and lost luggage coverage.
- Miscellaneous Insurance: Coverage for risks such as burglary, personal injury, engineering, and liability.
1.2 Commitment to Customer Satisfaction
National Insurance Company Limited (NICL) places a premium on client satisfaction:
- Customer assistance that is both prompt and efficient.
- For quick reimbursement, the claim settlement procedure has been streamlined.
1.3 Corporate Social Responsibility (CSR)
National Insurance Company Limited (NICL) is actively involved in social welfare activities such as:
- Education, healthcare, and community development projects.
- Encouraging social responsibility and sustainability.
2. Briefs – National Insurance Company
National Insurance Company Limited (NICL), Pakistan is a premier insurance company that provides extensive coverage, excellent customer service, financial stability, and social responsibility. NICL protects the nation’s future by offering a diverse variety of insurance products. NICL provides client protection and well-being by adjusting to market requirements and embracing technology, therefore contributing to Pakistan’s economic success.
3. Foundation – National Insurance Company
National Insurance Company Limited (NICL) was established in Pakistan on March 31, 2000 as an unquoted public limited company under the Companies Ordinance 1984 by virtue of the NIC (Reorganization) Ordinance 2000. The Ministry of Commerce (MOC) administers the National Insurance Company Limited, which is entirely owned by the Government of Pakistan (GOP). The authorized capital of the firm is Rs. 6 billion, and the paid-up capital is Rs. 2 billion, divided into 200 million Rs. 10 shares.
3.1 Vision – National Insurance Company Limited, Pakistan
To excel in providing insurance and other financial services enhance growth, profitability and shareholders’ equity through development of Human Resource, Technology and adherence to sound corporate governance.
Vision Statement – National Insurance Company
3.2 Mission – National Insurance Company Limited, Pakistan
To provide General Insurance coverage to the state-owned moveable and immovable assets belonging to Federal and Provincial Governments, Local Authorities and Statutory Corporations.
Mission Statement – National Insurance Company
4. National Insurance Company Limited, Pakistan – Intro Video
5. Type of Insurances – National Insurance Company Limited, Pakistan
5.1 Aviation Insurance – National Insurance Company
The aviation department provides the following insurance services to Pakistan’s aviation industry:
| Aircraft Hull Insurance | It protects the aircraft for unintentional damage or loss caused by any cause while flying anywhere in the world, subject to specific limits and limitations. |
| Passenger Legal Liability Insurance | It covers the airlines’ and aircraft operators’ obligation to passengers for physical injury/death and loss or damage to their luggage while in the airline’s or aircraft operators’ care, control, and custody. |
| General Third Party/Third Party Legal | This policy covers airlines and aircraft operators for loss or damage to third-party property on the ground for which they may be held legally accountable. |
| Cargo Legal Liability Insurance | This covers loss or damage to cargo consignments transported by aircraft. The shipper and consignees have the ability to sue the accepting or delivering carrier. This insurance also protects postal mail transported by airlines/aircraft operators up to the degree of their obligation to the general public. |
| Loss of License Insurance | This policy protects aircraft pilots financially in the event of a permanent or temporary inability to fly the aircraft owing to a medical impairment. |
| Personal Accident To Crew Of Aircraft | This coverage protects aircraft crews financially in the event of a temporary or permanent inability to pursue a flying career due to an accident. |
5.2 Engineering Insurance – National Insurance Company
5.2.1 Operational Phase Insurance – National Insurance Company
| Principals Advance Loss of Profit Following CAR/EAR | Insurance compensates for lost gross earnings as a result of lower turn over and increased expenditures as a result of accident-related project delays. |
| Computer All Risk Insurance | Computer risk insurance policies provide flexibility and endorsements to cover unanticipated loss or damage from fire, engineering, and accident. |
| Boiler and Pressure Vessel Insurance | Boiler insurance, which was established in 1854, is the earliest engineering insurance covering the risks of explosion, implosion, and collapse in boilers and pressure vessels. |
| Machinery Breakdown Insurance | Unexpected equipment damage is covered by machinery breakdown insurance. |
| Electronic Equipment Insurance | This insurance provides coverage for moderate power requirements for electrical systems used in work, relaxation, maintenance, and relocation within premises. |
5.2.2 Construction / Erection Phase Insurance – National Insurance Company
| Contractors All Risks (CAR) Insurance | The idea offers full coverage for contract works, construction plant, equipment, and machinery, as well as third-party claims for property damage or injury. |
| Erection All Risks (ERA) Insurance | Engineering Insurance covers the erection of machines, plants, and steel buildings, as well as construction and third-party claims for property damage or injury. |
| Principals Advance Loss of Profit Following CAR/EAR | Insurance compensates for lost gross earnings as a result of lower turnover and increased expenditures as a result of accident-related project delays. |
| Machinery Breakdown Insurance | Unexpected equipment damage is covered by machinery breakdown insurance. |
| Boiler and Pressure Vessel Insurance | The earliest engineering insurance, boiler insurance, was formed in 1854 and provides guaranteed protection against explosions, implosions, and collapses. |
| Computer All Risk Insurance | Computer risk insurance policies provide flexibility and endorsements to cover unanticipated loss or damage from fire, engineering, and accident. |
| Electronic Equipment Insurance | Insurance covers modest power requirements for electrical systems when they are working, resting, maintaining, cleaning, overhauling, or transferring within the premises. |
5.2.3 Insurance Bond and Guarantees – National Insurance Company
| Bid Bond | Bid bonds are issued by contractors for contract submissions to public and private agencies. |
| Mobilization Advance Bond | Bid bonds are issued by contractors for contract submissions to public and private agencies. |
| Performance Bond | Bonds are provided to both the contractor and the project owner to ensure contract fulfilment. |
| Excise & Customs Bonds | Such bonds are issued in connection with the import of raw material/machinery against the payment of customs and excise duties. |
5.3 Fire Insurance – National Insurance Company
| Fire and Allied Perils Insurance | Fire and Allied Perils Insurance is critical for businesses because it provides complete coverage against a variety of risks such as fire, lightning, riot, strike, atmospheric disturbance, earthquake, collision, aircraft, and malicious actions. |
| Consequential Loss Due to Fire | This policy provides cover for loss of gross profit and/or increased cost of working and /or standing charges sustained as a result of business interruption caused by an accident indemnifiable under fire and allied perils policy. |
5.4 Marine Hull Insurance – National Insurance Company
Barges, tugs, dredgers, fishing trawlers, leisure boats, speed boats, and last breakup journeys are all covered.
| Hull Insurance | Marine Hull Insurance provides coverage for a variety of vessels, including barges, tugs, dredgers, yachts, and speed boats, each with different risks and coverage choices. |
| Ship Owners Liability | Ship owners’ liability for general average, salvage, and expenditures not recoverable from insurers is covered by insurance. |
| Repairers Legal Liability | The policy covers the responsibility of repairers for third-party ships fixed. |
| Ship Building Policy | Special policy to cover ship builders’ risks involved in the building of ships. |
5.5 Marine Cargo Insurance – National Insurance Company
Marine cargo insurance protects all items while in transit based on the demands of the customer, whether cargo is carried by sea, air, or land, as well as General Average when stated.
5.6 Motor Insurance – National Insurance Company
Motor insurance policies are also only available to the public sector. Accidental damage, fire, burglary, theft, malicious damage, riot & strike damage, damage due to natural calamities and third-party liability arising under the Road Traffic Act or at common law and while in transit by road are all covered by a motor car/commercial vehicle/motorcycle insurance policy.
5.7 Crop Insurance – National Insurance Company
Crop credit Insurance, which was introduced in Rabi 2008-2009, reimburses premiums for five important crops, and NICL provides comprehensive production, development, and livestock credit programmes.
| Basic Coverage | Production Loans (All Crops)Development LoansLivestock |
| Perils | Excessive rain, drought, floods, cyclones, earthquakes, landslides, illnesses, pests, pests, animal fatalities, canal breaches, accidents, theft, fire, and burglary are all examples of natural disasters. |
| Additional Coverage with Production Loan (Per Crop) | Fire & LightningTheft & BurglaryAccidental Death of Borrower |
5.8 Travel Insurance – National Insurance Company
As a public sector insurance agency, NICL offers low-cost but high-benefit coverage in the sad case of sickness or unintentional injury, even if caused by a terrorist attack in our nation.
5.9 Miscellaneous Insurance – National Insurance Company
| Cash in Transit Insurance | This policy covers money lost in transit as a result of forced, violent, external, and visible means. |
| Cash/Insafe (Burglary Cover) | This policy protects cash on the premises from theft resulting from real forced and violent entrance onto the premises. |
| Workmen Compensation/Employers Liability Insurance | This insurance covers employers for any legal liability arising out of and in the course of work under the Workmen’s Compensation Act, Fatal Accident Acts, or at common law. |
| Public Liability Insurance | This policy provides coverage against legal liabilities to pay for death and/or bodily injury to any person and/or direct damage to the property arising due to accident. |
| Fidelity Guarantee Insurance | This policy provides coverage to the employer for pecuniary loss sustained by an act of fraud or dishonesty committed by the employee. |
| Personal Accident (24 Hours) | This insurance provides capital benefits for death, physical injury, permanent disablement, and temporary disablement as a result of unintentional injuries caused by violence. |
| Air Traveler Insurance | Passengers in licensed aircraft are covered for physical injury caused by violent, unintentional, external, visible methods, including death and permanent entire or partial disablement. |
| All Risk Insurance | This insurance covers complete risk coverage to property against loss and/or damage as a result of any accident or tragedy, including mobile phones and laptops. |
| Professional Indemnity Insurance | The coverage covers the insured firm’s liability for any claim stemming from a violation of professional obligation as an accountant, engineering consultant, and so on. |
| Directors Officer Liability Insurance | This policy provides cover to directors or officers or the company for loss arising from any claim made against them due to any inadvertent wrongful act committed in the capacity of directors & officers of the company. |
| Bankers Policy (Blanket Cover) | Employee adultery, transportation, counterfeit cash, and office goods are all covered under the Financial Institutions policy. |
| Plate Glass Insurance | This coverage covers all risks of glass breakage or destruction caused by any unintentional method. |
| Credit Guarantee Hire Purchase Cover (For Defense Personal Only) | Guarantor guarantees insured credit and Hire Purchase Scheme loans. |
6. Required Documents – National Insurance Company
- Proposal Form
- Preliminary Information Sheet
- Claim Form
- Operational Mechanism
- Policy (Template)
- Certificate (Template)
7. Branches in Various Cities – National Insurance Company
- National Insurance Company Limited (NICL) – Islamabad Branch
- National Insurance Company Limited (NICL) – Karachi Branch
- National Insurance Company Limited (NICL) – Muzzaffrabad Branch
- National Insurance Company Limited (NICL) – Faisalabad Branch
- National Insurance Company Limited (NICL) – Peshawar Branch
- National Insurance Company Limited (NICL) – Lahore Branch
- National Insurance Company Limited (NICL) – Quetta Branch
- National Insurance Company Limited (NICL) – Multan Branch
- National Insurance Company Limited (NICL) – Sukkar Branch
8. Board of Directors – National Insurance Company
- Aasim Azim Siddiqui
- Shafqaat Ahmed
- Tariq Jameel
- Syed Rafeo Bashir Shah
- Manzoor Ali Shaikh
- Rashid Manzoor
- Khalid Hamid
9. Associated Clients – National Insurance Company Limited
- Quaid-e-Azam Thermal Power Limited
- Karachi Shipyard & Engineering Works Ltd.
- People Steel Mills
- Punjab Masstransit Authority (PMA)
- Port Qasim Authority
- Punjab Thermal Power (Private) Limited (PTPL)
- Lahore Waste Management Company
- State Bank of Pakistan (SBP)
- National Logistics Cell
10. Online Helpline – National Insurance Company Limited
- UAN Number: 0800-06425
- Email Address: info@nicl.com.pk
- Hotline Numbers: 021 111 642 642 / 99225741-50
- Customer Services: 021-99225741-50
- Complains: https://complaints/Queries:customer.care@nicl.com.pk
11. Verification – National Insurance Company Limited, Pakistan
The verification of National Insurance Company Limited, Pakistan can be checked from the following website URL and the snapshot of the verification has been provided below;
https://jamapunji.pk/verify/licensed-entity-detail/national-insurance-company-limited
12. Disclaimer – National Insurance Corporation
- If the National Insurance Corporation (NICL) have not resolved your concern satisfactorily, you may file a complaint with the Securities and Exchange Commission of Pakistan (SECP).
- Please keep in mind that SECP will only consider complaints that were initially asked to be resolved directly by the firm and were not resolved.
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