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Chola MS cover for Toyota cars

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(From left) Mr K.K. Swamy, Deputy Managing Director, Toyota Kirloskar Motor Pvt Ltd; Mr Atsushi Toyoshima, Managing Director; Mr M.A. Alagappan, Chairman, Cholamandalam Investment and Finance Company Ltd; and Mr Arun Agarwal, Managing Director, Cholamandalam MS General Insurance Company Ltd, at the signing of MoU in Chennai on Friday. - - Bijoy Ghosh
(From left) Mr K.K. Swamy, Deputy Managing Director, Toyota Kirloskar Motor Pvt Ltd; Mr Atsushi Toyoshima, Managing Director; Mr M.A. Alagappan, Chairman, Cholamandalam Investment and Finance Company Ltd; and Mr Arun Agarwal, Managing Director, Cholamandalam MS General Insurance Company Ltd, at the signing of MoU in Chennai on Friday. - - Bijoy Ghosh

Our Bureau

Chennai, Nov. 18

TOYOTA Kirloskar Motor Ltd and Cholamandalam MS General Insurance Company Ltd have joined hands to provide insurance to the Toyota cars bought, right at the time of purchase.

Through this tie-up, all Toyota customers would be able to insure their vehicles at the dealer point and avail themselves of post-accident, near-cashless repairs of insured vehicles at all Toyota dealerships, officials of the two companies said at a press conference here on Friday.

Toyota Kirloskar produces in India the passenger car, Corolla, and the multi-utility vehicle, Innova. It also imports and sells Camry cars and Prado sports utility vehicles. Toyota officials said that the company had sold 7,600 units of Corolla and 26,800 units of Innova between January and October this year.

Cholamandalam MS General Insurance, a joint venture of the Chennai-based Murugappa group and Mitsui Sumitomo of Japan, estimates the premium potential from the tie-up at Rs 2.5 crore a month.

(This article was published in the Business Line print edition dated November 19, 2005)
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