Cholamandalam Receives Contract For Non-Aviation Cover To Air India

New Delhi: Cholamandalam MS General Insurance, private sector insurance firm, has bagged the mandate to provide non-aviation related insurance cover to Air India for 2007-08. According to the source, the airline has managed to bag a 25 per cent reduction in the insurance pay out while there has been an increase in the cover being provided. The cover will be to the tune of about Rs 1,800 crore. Non-aviation related insurance cover provides protection to building, machinery, equipment and vehicles among others. This year the 12 existing insurance companies including the four public sector and eight private sector companies were in the fray.