Context:
Starting January 1, 2010, the Central Pollution Control Board (CPCB) will take over the responsibility of administering the Environment Relief Fund Scheme by taking it over from the United India Insurance Company Limited (UIICL).
Key Highlights:
- This was done because of the problem of poor utilization of the fund and very long delays in payment of compensation.
- The transaction is said to increase the efficiency and transparency of fund monitoring.
United India Insurance Company Limited (UIICL)
United India Insurance Company Limited (UIICL) is one of the leading public sector general insurance companies in India.
- Established
- 1938
- Headquarter
- Chennai, Tamil Nadu.
- Owner
- The company is owned by the Government of India and operates under the regulatory framework of the Insurance Regulatory and Development Authority of India (IRDAI).
- Chairman
- Bhupesh Sushil Rahul
