Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
To handle the sudden loss of cashless facility, patients should maintain an emergency fund or a short-term credit line to manage all or part of hospitalisation costs.
Pre-initial public offering (IPO) allotments have fallen out of favour over the past two years amidst buoyant primary markets and increasing average float sizes. In 2023, 13 firms raised a record Rs 1,074 crore through pre-IPO placements.
The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.
There have been some cases where the entire family has perished or both spouses died in the crash, which are making the claims process particularly complex.
The crash has dealt a blow to the conglomerate's efforts to turn around Air India, especially following its merger with Vistara in 2024.
'Opt for a minimum cover of Rs 10 lakh to Rs 15 lakh, especially in urban and metro areas.'
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
Some products offer terrorism cover as part of the base offering, while in others it is an optional cover.
Punjab Police have arrested three individuals and foiled a major target killing planned by a terror module linked to the proscribed Babbar Khalsa International (BKI). The module was allegedly being handled by US-based gangster Gurpreet Singh alias Gopi Nawashehria, who is a close aide of Pakistan-based terrorist Harwinder Singh Rinda.
Punjab Chief Minister Bhagwant Mann on Sunday demanded that Leader of Opposition Partap Singh Bajwa reveal the source of his claim that 50 bombs had reached the state, questioning if he had direct links with Pakistan. Bajwa, who had made the statement in a TV interview, said he cooperated with police but refused to divulge his sources. The police visited Bajwa's residence and questioned him about his statement. Mann also sought a clarification from the Congress party, saying the government will take strict action if Bajwa's statement was meant only to "create panic."
The chief minister's office said the special team will be headed by IG Sparjan Kumar and will include four senior women IPS officers of the state.
In a setback to Prudential Plc's efforts to bolster its Asia presence, American International Group today rejected the British insurer's reduced $30.38 billion takeover bid for AIG's Asian life insurance unit.
Singh's humility and grounded nature were highlighted in a heartfelt social media memoir by Uttar Pradesh Minister of State for Social Welfare (Independent Charge) Asim Arun.
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
The American International Group India on Thursday issued a release stating that the US financial crisis does not have any immediate material impact on Tata AIG Life Insurance.
At a board meeting last week, Benmosche told fellow AIG directors that he was 'done' but agreed to think it over after other board members reacted with shock.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
In this regard, AIG has entered into an agreement with Aabar Investments PJSC to sell its subsidiary, the insurance firm said in a statement on on Monday. According to UK daily The Telegraph, the Swiss subsidiary would be sold for about $254 million.
Even as it gasped for breath, American insurance giant AIG was lobbying the United States Congress hard to get the Indo-US civil nuclear energy deal cleared, reports ProPublica.org.
AIG paid more than $40m in controversial retention bonuses to staff at its troubled financial unit in December, three months ahead of schedule, according to the resignation letter of an executive at the insurance group.
Prudential CEO Tidjane Thiam today indicated that the British company would sell its stake in Tata AIG Life to the Indian conglomerate. In March, Prudential had acquired AIG's Asia business for $35.5 billion, which included the 26 per cent stake in Tata AIG.
IT and BPO services provider MphasiS on Wednesday said it is set to acquire AIG Systems Solutions (AIGSS), part of the troubled insurance giant American International Group Inc, for an undisclosed amount.
A day after Prudential bought out AIG's Asia arm, AIA, top executives of both AIG and Tata AIG met the Insurance Regulatory & Development Authority to keep the latter abreast of developments.Sources at Tata Sons told Business Standard they had decided to buy out AIG's stake in the life insurance business. And, would consider inducting a partner at a later stage.
'Accidents are unpredictable, whether it's a mishap during Diwali, a fracture during travel, or a fall in the bathroom.'
British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
Troubled insurance giant American International Group's chairman and chief executive has asked its employees to return at least half of the bonuses paid to them recently, after facing sharp criticism from taxpayers and federal officials against the payments.
US insurance giant AIG's plan to give massive bonuses of $165 million to its executives has drawn flak from the White House leaders, with President Barack Obama vowing to pursue legal measures to block these payments.
In an interview to the Financial Times, AIG Chief Executive Officer Robert Benmosche said it would take at least two years for AIG to sell businesses and earn enough profits to repay the government and persuade it to sell its 80 per cent stake.
Insurer American International Group will recover $45 million from its employees given as retention payments last year and return the amount to the government, a media report says.
Attributing to people familiar with the matter, The Wall Street Journal said AIG is preparing to pay Kelly several million dollars in severance after she resigned over federal pay curbs.
American International Group is in talks with the US government to speed up an exit plan designed to repay taxpayers in full while enabling the giant insurer to regain independence, says a media report.
The company's recently hired chief executive Robert Benmosche threatened to quit last month reportedly amid frustrations over limitations on pay for top AIG executives.
In an interview to the 'Wall Street Journal', Benmosche said that AIG, in its current form, is too large. "I feel strongly that AIG is too big today -- it is extremely complex to manage and we need to make sure it's more transparent, that it's smaller, and that we can make it on our own."
Observing that working conditions have made doctors and health professionals susceptible to violence, the Supreme Court on Tuesday constituted a 10-member task force to formulate a national protocol for ensuring safety and facilities for them in the wake of the rape and murder of a medic in Kolkata.
The United States-based AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance designed to increase home ownership, is exploring several Asian markets, including India, China, Japan and South Korea, to expand its business.
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