Smart women Advantage plan launches

To commemorate the International Women’s Day, SBI Life Insurance launched ‘SBI Life – Smart Women Advantage’ plan that provides for life cover, savings and female-specific critical illness benefits. (ET) The Tea Board of India has floated a one-year accident insurance scheme for workers serving in small tea plantation sector, which employs around 35,000 people in north Bengal. (telegraphindia.com) The largest domestic institutional investor, Life Insurance Corporation of India, has pruned its stake in six public sector banks during October-December 2015 quarter. (FC) The massive flood in Chennai and adjoining areas in Tamil Nadu turned out to be costly for the insurance companies, saddled with claims touching close to Rs. 5,000 crore. (FC) The Chennai floods might hit the state-run National Insurance Company’s bottomline to the tune of ₹80 crore for the financial year ending March 2016, its Chairman and Managing Director, K Sanath Kumar, said.