Universal health scheme on the cards; Spend on the sector likely to be raised.
Information-technology (IT) services major Cognizant has kept its full-year guidance on revenue growth unchanged at 3.5-6 per cent in constant currency even as the industry is becoming cautious about macro conditions because of tariff wars.
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
Presumably hurt on their balance sheets by the allegedly inflated bills for medical costs of people covered by cashless mediclaim facilities, these insurers have pruned the list of hospitals in four large cities for providing this facility with effect from this month.
While there has been a rise in obesity reduction surgeries, it may still take time before health insurance cover is made available for these.
Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
"Customers can only take the policy in totality. So it's important to understand the benefits offered under the existing health policy and to match those with the plan one wishes to port to," says Apollo Munich Health Insurance CEO Antony Jacob.
Most people do not know how to use it. At best, it provides tax benefit.
Insurance Regulatory and Development Authority also favoured portability in the health insurance space, a move that will pave the way for the consumers to switch from one insurer to the other for their mediclaim policies.
Insurance advisors say it is imperative to compare the features on offer before buying a policy. A careful perusal of wordings will highlight the policy clauses unfavourable for you.
Other proposals include grading of hospitals, expanding network.
Now that insurance companies are offering portability the one question uppermost in every mind is: Should one opt for it? While it is too early to provide an answer in black and white the best strategy policyholders could follow now is wait and watch, says Salil Dhawan.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Knowing the inclusions and exclusions of the insurance plan tells the coverage limit of your plan.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
The government has proposed to encourage setting up of stand-alone health insurance companies, which could provide cover even for routine OPD treatment in hospitals and nursing homes without getting admitted.
New India Assurance, National Insurance and United India Insurance are following Oriental Insurance Company in raising health insurance premium rates by 50 to over 100 per cent.
Travel insurance policies do not generally cover adventurous or sporting activities such as bungee jumping, paragliding, mountain climbing, or white water rafting, which fall under hazardous activities.
Many of these are group products and don't get tax benefits; compare premiums and products, make sure they fulfil your needs.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.
A sum insured of Rs 3 lakh to Rs 5 lakh may have been sufficient seven-eight years ago but would be inadequate today, especially for people living in metros, points out Sanjay Kumar Singh.
Although the company has shown willingness to talk to its workers and accept their key demands, it is CITU that is causing a roadblock to a solution.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Your entire contribution can go down the drain if policies are not renewed on time
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
The task force has favoured that Rashtriya Swasthya Bima Yojana should cover domestic workers, a Labour Ministry official said on Monday.
Do you think cashless medical insurance is quite helpful in countering an emergency? Or do hospitals behave as if the price for a patient without insurance is less than for a person with insurance?
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
Expenditure on health in India is at a global low of 1.2% of GDP.
Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
