(1)   To undertake, carry on, establish, organize, promote, operate, conduct and develop whether in India or elsewhere through out the world (subject to the laws of the place where the business is to be carried on ) all kinds of general insurance business, whether of a kind now known or hereafter devised and all kinds of guarantee and indemnity business, and in particular without prejudice to the generality of the foregoing words, to undertake, carry on and transact all branches of health, fire, marine, aviation, accident, motor vehicle, employers liability, workmen’s compensation, disease, sickness, failure of issue, loss of key-man, third party liability, burglary and robbery, theft, rural, social, credit, engineering , fidelity and transit insurance and insurance covering risk against any liability under any law, convention or agreement, and to undertake all other risk and liabilities usually undertaken by persons or companies carrying on the business of General insurance and further without prejudice to the generality of the foregoing words : 

a.      To grant or effect assurances against or upon the contingency of injury, damage or loss by reasons of accidents of any description to human beings (excepting insurance against accidents terminating fatally), and to grant or effect insurance against or upon the contingency of injury, damage or loss by reason of accidents of any description to real or personal property of any kind. 

b.      To grant insurance against or upon the contingency of injury, damage or loss occurring to motor vehicles and to the real and personal property of motorists and motor vehicle clubs, caused by or resulting from fire , lightning, explosions, tempests, or the overflow or inundation of water, or from any other accidental cause. 

c.       To grant assurances to protect and to indemnify owners of motor vehicles against claims by the public for personal injuries and damage to property caused by their drivers, and to make good to the insured damage to their property produced by collision with houses, vehicles, cycles or motor vehicles of others, and to grant policies or other instruments of insurance indemnifying owners against loss or damage to their motor vehicles by accident, fire and theft. 

d.      To carry on the business of fire insurance in all its branches, and to grant insurance against injury or damage to or loss of property directly or indirectly caused by or resulted from fire, accident, lighting , explosion or otherwise. 

e.      To insure and grant, issue and effect policies and assurances in respect of surety (excluding financial guarantee) including guarantee of performance of a contract. 

f.        To insure and grant, issue and effect policies and assurance in respect of aircraft, vessels and other motor vehicles including for legal liability for passengers or other third parties or physical damage to the hull. 

g.      To carry on the business of marine and aerial insurance in all its branches, and in particular to make or effect insurance on ships, vessels, boats, craft and aero planes of all kinds and on goods, merchandise, live or dead stock, luggage, effects, bullion or other property, respondentia and bollomry interests, commissions, profits and freights. 

h.      To carry on all kinds of transit insurance business including of transit by land, sea, air, inland waterways and re-insurance business incidental thereto. 

i.         To establish different classes or clubs of insuring members upon the footing that the members of each class or club shall insure one another on the mutual principle and to manage and regulate such classes or clubs. 

j.        To transact insurances to protect employees and principals against liability on account of injury, loss or damage, either sustained or caused by workmen, servants, employees or agents in their employment or acting on their behalf. 

k.       To transact insurances to protect and indemnify principals or employers against loss or damage by fraud, breach of trust or misconduct of their servants, agents or others acting on their behalf, and to guarantee and provide security for the fidelity and good conduct of persons filing or about to fill offices or appointments and situations of trust or confidence and also to protect and relieve private sureties against loss arising to them from their liability as cautioners or guarantors for others. 

l.         To transact insurances against claims upon the assured for injuries to the person and property of third parties caused by the assured or his property or by others for whom he is responsible. 

m.     To transact insurances against loss of property by burglary or theft by housebreaking or larceny. 

n.      To insure or give any guarantee in relation to any stock, shares, debentures, debenture stock, bonds, obligations or securities issued by or having any guarantee of any company or institution or of any authority supreme, municipal, local or otherwise, or of any person or persons whomsoever, whether corporate or un-incorporate. 

o.      To insure or give any guarantee against calls and demands for contribution in respect of any liability incident to the ownership of any shares or stock in any company or undertaking. 

p.      To insure or guarantee the holders of, or persons interested in, or proposing or intending to become holders of any shares, stock or securities issued at a premium or standing at a premium, against loss arising from redemption at par, depreciation or otherwise. 

q.      To insure or guarantee the safety of securities and property of all kinds placed on deposit with the Company or elsewhere, or entrusted to the Company or other persons or companies for transmission, or otherwise howsoever. 

r.        To insure and guarantee the due payment and performance of bills of exchange, promissory notes, debts, contracts and obligations of all kinds, on the del credere system or otherwise. 

s.       To insure and grant, issue and effect policies and assurances in respect of horses, cattle, sheep, pigs and other live stock against death, whether arising in the course of nature or caused by or the result or arising from or out of disease or accident, and against injury or depreciation in value of accident, or by fire, flood, inundation, lightning or tempest. 

t.        To insure and grant, issue and effect insurances upon and in respect crops, whether growing or servered, against loss, destruction, or injury by fire, flood or inundation, or in any other manner. 

u.      To insure and grant, issue and effect policies and assurances in respect of loss or damage to property caused by an insured peril including with respect to building, furniture and fixtures and contents including stock and equipment. 

v.       To insure and grant, issue and effect policies and assurances in respect of inland marine, specialized coverage for property away from the insured premises including contractors equipment, cargo. 

w.     To insure and grant, issue and effect policies and assurances in respect of damage to property resulting in a business interruption or loss of income and continuing expenses thereto. 

x.       To insure and grant, issue and effect policies and assurances in respect of boiler and machinery including sudden and accidental breakdown of any object including heating and air conditioning equipment. 

y.       To insure and grant, issue and effect policies and assurances in respect of legal liability for bodily injury or property damage caused by automobile or otherwise. 

z.       To insure and grant, issue and effect policies and assurances in respect of accidental benefits, including providing no fault coverage, medical and loss of income caused by automobile or otherwise. 

aa.  To insure and grant, issue and effect policies and assurances in respect of physical damage, loss or damage to the insured vehicle or automobile or other mode of transportation. 

bb.  To insure and grant, issue and effect policies and assurances in respect of commercial general liability or personal liability or legal liability for bodily injury or property damage. 

cc.    To insure and grant, issue and effect policies and assurances in respect of umbrella or excess liability. 

dd.  To insure and grant, issue and effect policies and assurances in respect of errors and omissions, legal liability for economic loss caused by rendering or failing to render professional service. 

ee.  To insure and grant, issue and effect policies and assurances in respect of directors and officers including legal liability for designated directors and officers for wrongful acts. 

ff.      To insure and grant, issue and effect policies and assurances in respect of employers liability including for legal liability for employees injured in the scope of coverage. 

gg.  To insure and grant, issue and effect policies and assurances in respect of crime, loss or destruction of money, securities or property by third party. hh.  To insure and grant, issue and effect policies and assurances in respect of fidelity including loss of money or securities by employees. 

ii.       To insure and grant, issue and effect policies and assurances in respect of legal expenses for a specified coverage. 

jj.      To insure and grant, issue and effect policies and assurances in respect of marine including legal liability and physical damage to the vessel. 

kk.   To insure and grant, issue and effect policies and assurances in respect of hail including damage to crops caused by hail. 

ll.       To insure and grant, issue and effect policies and assurances in respect of residual guarantee including guarantees the value of leased property (such as a vehicle) at the end of the lease. 

mm.                       To insure and grant, issue and effect policies and assurances in respect of credit (personal lines only) including guarantees the payments under a mortgage, hire purchase or similar arrangement in the event of default by the obligor and/or the occurrence of some other event (eg. Disability), so long as such insurance is not classified by the insurance regulatory and development authority as “life insurance”. 

nn.  To insure and grant, issue and effect policies and assurances in respect of accident & sickness (other than stand-alone) including medical expenses and income replacement resulting from accident or serious sickness. 

oo.  To insure and grant, issue and effect policies and assurances in respect of accidental death & disability including medical and income replacement resulting from death or permanent disability. 

pp.  To give to any class or section of those who insure, or have dealings with the Company, any rights over or in relation to any fund or funds, or a right to participate in the profits of the Company, or in the profits of any particular branch or part of its business, either equally with other classes or sections or otherwise and any other special privileges, advantages or benefits and either by way of rebate or otherwise subject nevertheless to the rights of existing policyholders under policies already issued to them and for the time being in force. 

qq.  To pay, satisfy or compromise any claims against the Company in respect of any policies or contracts granted by dealt with or entered into by the Company which claims it may deem expedient to satisfy or compromise notwithstanding that the same may not be enforceable. 

rr.     To take, or otherwise acquire, and hold shares, debentures, or other securities of any other company or to invest or otherwise deal in securities or securitized debt of any company, body corporate, trust or individual or the Government of India or any state Government and to lend money and make investments or give credit to any person or company and on such terms as may be considered expedient, and either with or without security; to secure or under take in any way the repayment of moneys or investments lent to or the liabilities incurred by any person or company, and otherwise to assist any person or company and to further invest and deal with the money of the Company not immediately required in any such manner as may from time to time be thought fit. 

ss.   To insure and grant, issue and effect policies and assurances in respect of workers compensation including no fault coverage for employees injured in the scope of their duties. 

tt.     To provide general insurance policies in rural sector, workers in un-organised or informal sector or for economically vulnerable or socially backward classess and other category of persons as may be specified by regulations made by the Insurance Regulatory and Development Authority. 

uu.  To provide guarantee and security for the due performance and discharge by any person including bodies corporate, Official and other receivers , Official and other liquidators , committees, guardians, executors, administrators and other legal representatives of deceased persons, trustees, attorneys, doctors , brokers and agents of their respective duties and obligations. 

vv.   To effect savings linked insurance policies. 

(2) To carry on, establish, organize, manage, promote, provide, operate, conduct and develop general assurance business in all its branches & manifestations in India or elsewhere and for this purpose to operate various schemes including endowment insurance, double benefit and multiple benefit insurance, medical insurance, Engineering and Miscellaneous insurances and insurances covering risk against the perils of loss or Damage to property or person for various reasons such as War, Riot, Civil commotion, storm, floods, Earthquakes, Lightening, Explosion, Mechanical defects, fraud, Breach of trust, Misconduct, theft, Burglary, House-breaking, larceny, and any other contingency, or peril, natural calamity or crop insurance, loss of profit insurance, theft insurance, transit insurance, accidental insurance, limbs and organ insurance, annuity plans, pension plan, gratuity plans, fixed income plans, saving linked insurance plans,  and such other schemes and plans as may be considered expedient and necessary from time to time. 

(3) To act as agents, representatives, surveyors, sub-insurance agents, franchisers, consultants, advisors, collaborators, in general insurance business and activities related thereto. 

(4) To engage in all activities which are incidental and allied or related to insurance business and for this purpose to apply, approach acquire, hold and procure such rights, titles entitlements, licenses and permissions from Government, Semi-Government, local authorities, public bodies, undertaking and from such other authorities as may be necessary and expedient to carryout the aforesaid activities.