Expect premiums to go up or introduction of a co-pay option for third-party damage
Though exposure draft proposed 35-60% hike, Irda raised it only 19%.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
Passenger vehicle dispatches to dealers in India rose over two-fold last month on a low base of Covid-19-hit May last year. As per the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales rose to 2,51,052 units last month as compared to 88,045 units in May 2021. The two-wheeler sales rose to 12,53,187 units in May as compared to 354,824 units in the year-ago period.
Don't panic if your car is stolen because your insurer is liable to pay the full amount as compensation, but you need to keep in mind that your claim should be genuine because most of the insurers try to avoid such claims, says Harjot Singh Narula
The regulator has made it mandatory for insurers to have a minimum percentage of motor third-party business underwritten.
Financial performance, tax issues to be discussed on June 13 meeting.
The Insurance penetration in India is very low at 3.9 per cent.
'Online aggregators offer discounts of 70% to 75%.' 'At a car dealership, the discount is usually in the range of 30% to 35%.'
The National Confederation of General Insurance Officers' Association urged the Finance Minister Jaswant Singh to explore the possibility of setting up a subsidiary health insurance company to manage the health portfolio.
'As the city grows, so do its fire incidents.'
Don't think twice to secure your most prized possession. It protects your precious home against unforeseen calamities
Have a question about insurance?
The ruling Mahayuti alliance in Maharashtra is heavily banking upon a six to 10 per cent shift in voters -- mostly women -- in its favour to return to power with anywhere between 160 and 170 assembly seats, say four MLAs belonging to Eknath Shinde's Shiv Sena.
The GST to be implemented from April 1, 2016, will increase the premiums.
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
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
The artificial intelligence-based system aims to authorise cashless claims within 60-90 seconds and bring the turnaround time for investigations down to a one day, or even a few hours.
Multiple reasons accounted for the losses, including manpower crunch and lack of clarity on the merger of National, United and Oriental, reports Namrata Acharya.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
As a result of the mass state-led scheme, the processes in the health insurance market could get simplified over time and become uniform
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
Naval Goel of PolicyX answers some important questions before buying insurance policies
Did you know that annual premium-paying option is cheaper than a monthly premium paying option?
Any unexpected expense can disturb the finely-balanced budget of middle-class individual. That's when a motor insurance policy comes as a saviour
The devastation caused by the current deluge has damaged hundreds and thousands of homes and vehicles.
While buying health policies, customers should reveal any pre-existing diseases. This is the only way to ensure that the insurer does not reject claims.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
Most popular mandal in Mumbai, Lalbaugcha Raja, takes Rs 51 crore cover.
The first step that has been taken by IIB is to bring out unique identity numbers for hospitals.
Mahavir Chopra explains the pitfalls one may face after buying a day care insurance policy
The decline of over 5 per cent in PB Fintech's shares (the parent company of PolicyBazaar) in the past two days presents an opportunity for long-term investors to consider buying the stock, suggest analysts. By comparison, the benchmark S&P BSE Sensex has remained flat during the same period with a negligible gain of 40 points, or 0.06 per cent. Analysts believe that the recent selling is "overdone", as the company behind the online insurance portal remains committed to achieving profitability, and the potential threat from the government's online insurance portal, Bima Sugam, might be embellished.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
Installing some safety features is one of the steps that you can take which will work well towards lowering your car premium, says Naval Goel
Aircraft that are lost and their debris aren't found are also covered under the 'disappearance' clause in an aviation insurance policy.
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