The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
Parts of electric cars are costlier and repairing often means replacing an entire system, which drives insurance premium rates up.
The New Delhi District Consumer Disputes Redressal Forum said the insurance firm's conduct was 'unlawful' and a 'breach of contract' and added that Reliance General Insurance had "knowingly" dragged the complainant to litigation.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
After the Chennai floods, insurance companies had got 50,000 claims worth Rs 4,800 crore.
This could impact their books in the third quarter of the current financial year.
'It is a good match for those aged 25-30, who have just started working and need a basic product.'
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries about HEALTH insurance and AUTO insurance.
There is a large population standing outside the coverage of primary healthcare, says Praveen Gupta of Raheja QBE.
According to insurers, the premium is quite low, claims are very high.
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
In what may reduce the underwriting capacity of the general insurance industry, General Insurance Corporation has withdrawn the market surplus treaty with effect from April 1.
Apart from rail mishaps, the coverage would take care of terrorist attacks and accidental fall of a passenger from a train and normal accidents, riots, robbery and dacoity
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
Inflation targeting has worked well and the government must stay with it, and the framework is going to work well in the period ahead also, former RBI Governor D Subbarao said on Thursday. He also said low inflation contributes to sustainable growth. Addressing the 'Times Network India Economic Conclave' virtually, Subbarao said the government's proposal to privatise some public sector units is not akin to selling family silver but it is a route for putting India on a sustainable growth path.
There is discrimination against women in insurance cover. As a flood of insurance companies tap the capital markets with public issues, there is however, hardly any reference to this asymmetry. Subhomoy Bhattacharjee reports
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
Similar to a travel insurance that is purchased during booking flight tickets online, those booking tickets on IRCTC's website would get an option to purchase insurance for their train journey
At its heart, the issue is more than compliance. It is the risk of possible breakdown of a strong nexus between insurance firms and motor car dealers that makes the business the top earner for the former.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
This form of device-based insurance uses GPS to measure how much a car runs and the speed that it is run at.
The first and most important check you must run is to see if you have adequate life cover.
Bear in mind that the amount you get paid depends on the stage at which cancer is detected, reveals Sanjay Kumar Singh.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
These are meant for students travelling abroad for further studies.
Several computers, laptops, window glasses and furniture were damaged in the vandalism, an official at Koregaon police station said.
Paytm plans to launch mutual funds, insurance and banking services and s also providing the option to transact offline with a physical debit card
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
ICICI Lombard has secured the top slot in new business collections among private general insurers in the first half of this fiscal.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
India is likely to count among the top three life insurance and 15 general insurance markets in the world by 2020. However, private insurance companies are to be find a way to operate profitably.
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