A consumer court has ruled that the insurance companies are not allowed to re-assess the market value of an insured vehicle, once a policy for a specific amount is issued against the requisite payment.
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
Currently, the Department of Agriculture runs two crop insurance schemes, one of which is weather-based.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
The film hits theatres tomorrow, July 25.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
Insurance experts said since it may be difficult to set a tariff or fixed rates for Covid-19 treatment, an indicative rate chart has been proposed.
February will see only mid to decent budgeted films arriving.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
'I have no idea about such a medal. Never got one,' says Surya Shekhar Ganguly, the national chess champion between 2003 and 2008.
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
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
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
As a result of the mass state-led scheme, the processes in the health insurance market could get simplified over time and become uniform
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
The Supreme Court has ruled that an insurance company will be liable to pay compensation to a vehicle owner, even if the vehicle involved in a mishap is manned by a driver without a valid licence.
Not many people are taking mediclaim insurance policy and its market penetration is less than one per cent
NPCI calls bids to cover all e-payment transactions where consumer followed procedure; both state and private insurers show interest.
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
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The new Insurance Bill may be implemented in 2015.
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
Western sanctions aimed at crippling Iranian finances by drying up buyers for its crude oil, had last year banned insurance cover to ships carrying Iranian oil.
Insurance policies stipulate a time frame for lodging a claim after the incident of loss.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
With Rs 17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at Rs 7,266 crore.
Insurance companies are going all out to grab eyeballs.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
Tamil Nadu ranks lowest in terms of crop insurance penetration, which is just 3.12 per cent, as compared with 25-40 per cent in other states in the country.
Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.
Banking and insurance services were paralysed on Tuesday as their staff and officers joined public sector employees on a day-long nation-wide strike
