Addressing an event after launching the service, Shah said the rival ride-hailing platforms have reduced commission and are offering many other incentives, including free rides to customers, seeing the success of Bharat Taxi during the pilot operation.
'Buy early and review the sum insured regularly.'
'Combining individual or family policies with corporate cover, along with top-ups and wellness programmes, can help maintain strong health protection throughout life.'
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 JV, Edelweiss Tokio Life Insurance (ETLI), will soon apply to the Insurance Regulatory & Development Authority to get its nod to start operations, which may take eight months to one year time from now, Edelweiss Capital's Chairman Rashesh Shah said.
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.
'Opt for a minimum cover of Rs 10 lakh to Rs 15 lakh, especially in urban and metro areas.'
The National Commission ruled that the insurance policy is deemed to be automatically transferred to the purchaser when the vehicle is registered in their name.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
'Covid-related claims were almost 2.5 times the normal claims size.'
The 45-year-old mum of four shared the news on Instagram.
Several computers, laptops, window glasses and furniture were damaged in the vandalism, an official at Koregaon police station said.
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.
Increase of FDI ceiling in Insurance Industry to 49 per cent. Raising the cap will provide enough incentive to foreign companies to invest in Indian insurance sector. This will create required capital in the industry and help the sector expand much faster.
While select private insurers like ICICI Lombard, Tata AIG and IFFCO Tokio provide specialised insurance covers for 'art' items, the minimum value they look at is in excess of Rs 1 crore.
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.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
Farmers will no longer have to wait endlessly for claiming their payments from the government.
Though General Insurance Corporation of India has a majority stake of 40 per cent as the re-insurer, the rest was re-insured with global reinsurers.
Iffco Tokio General Insurance is hoping to step up growth by focusing on motor and health insurance.
London Olympics bronze medallist MC Mary Kom declared her intention to bow out on a high at the Rio Games in 2016, saying it could be her last tournament.
First, the shock: according to a National Council of Applied Economic Research survey, of the 78 per cent Indian households aware of life insurance, only 24 per cent actually own one.
ICICI Lombard outsmarted other private general insurers in the first two months of this fiscal by mopping up Rs 10,137 crore (Rs 101.37 billion) in premium income and cornering 3.27 per cent of the market share in April-May, 2003.
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.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Currently, the Department of Agriculture runs two crop insurance schemes, one of which is weather-based.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
A combination of ELSS or PPF with a term plan offers better coverage and returns
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Foreign investment cap in insurance sector raised to 49 per cent.
The insurance sector is seeking clarity on the 'Indian management control' clause.
A bronze medal in wrestling gets brands talking about a potential endorser joining the ranks of past Olympics stars from India, Abhinav Bindra and Vijender Singh
West Bengal signed an MoU with the Centre for jointly implementing Ayushman Bharat but so far officials have received no word about how it will be done and the deadline is almost here.
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
With the introduction of 10 per cent tax both on long-term capital gains and on dividend, choose funds based on investment horizon and risk appetite, not on tax advantage, experts tell Sanjay Kumar Singh.
Insurance firms want more clarity before increasing foreign partner's stake.
Brand associations have helped Priyanka Chopra-starrer gain traction in traditional and digital media.
The film hits theatres tomorrow, July 25.
