Apart from paying ransom, the policy also takes care of the reward money, personal accident, cosmetic surgery and legal expenses.
Finance ministry asks Irda to make this and other changes while clearing these products.
You need not shell out the big bucks to be pampered. Buy a health cover and enjoy luxury treatment at a spa, join a gymnasium or a yoga centre and get the necessary incentives that suit your budget.
The government had last week hinted that it was open to a review of the 25 per cent public shareholding norm, but as of now, the rules remain in force.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place.
The average deal size has gone up from $7 million in 2009 to $12 million this year.
The reinsurer expects total insurance cover to be around $500 million.
After reeling under losses for almost a decade, life insurance companies are now turning the tide. Four life insurers have, so far, posted profit, while three of them have brought down their losses.
At present, the rules do not allow the government to shed stake in the four public sector general insurance companies - New India Assurance, United India Insurance, National Insurance and Oriental Insurance.
After trying to reform unit-linked insurance plans (Ulips), the Insurance Regulatory and Development Authority (Irda) is now turning its attention to the protection of policyholders.
The Securities and Exchange Board of India (Sebi) has decided against filing a joint application before a court to resolve its dispute with the Insurance Regulatory and Development Authority over unit-linked insurance plans.
Several life insurance companies in the country are preparing to take on the markets regulator Securities and Exchange Board of India over unit-linked insurance plans.
Firm offers no-pain switch from company cover.
Making non-life insurance claims is going to become more expensive in the new financial year.
The first private equity deal in the Indian health insurance sector is set to be sealed soon.
Life Insurance Corporation of India, the country's largest institutional investor, is planning to pump in at least Rs 75,000 crore in equities during the next financial year.
The proposed portable health insurance policy, earlier to be sold only to those between 18 years and 40 years, is to now cover individuals from three months to 65 years. The product, which has been in the works for over a year, has been cleared by the General Insurance Council, the industry lobby, which will approach the regulator to approve the product.
The rules are being reviewed for the first time after the sector was opened to private competition at the start of the decade.
The country's largest insurer had been keen to run a bank for a long time to manage the large premium collection and claim settlement work.
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
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