According to IRDAI, Marsh India had held the premium received from the clients in an Insurance Bank Account for more than 15 days and did not remit the premium to the insurer/reinsurer within the time limit of 15 days.
The Ola Money and Uber tie-ups demonstrate how insurance companies, including even government-run ones, are forging partnerships with every possible service company to offer products.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
If you quit or change jobs in your 40s, buying an individual term plan will be expensive. You might not even get one if you have health problems, says Priya Nair
But, neither were the big companies interested in growing inorganically nor were the smaller ones ready to offer themselves for sale.
The rising cost of medical insurance has prompted India Inc to provide lower cover to employees. A 2011-12 employee benefit survey says the average sum assured under the group medical cover offered by companies has come down by 40 per cent -- to Rs 300,000 from Rs 500,000 -- over the last two years.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
India suffered a $3 billion loss to its economy from severe rainfall and flooding in November and early December.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
