The biggest surprise for customers, at the time of claiming, is the fact that they will get only depreciated value of the product.
'It is important to ensure that the person driving the car has a valid driving licence, is in a stable mental condition and is not under any heavy medication or influence of alcohol,' says K G Krishnamoorthy Rao, MD and CEO, Future Generali India Insurance.
Insurers cover the house on market value, and not on construction cost. They also don't insist on bills when giving the policy
At its heart, the issue is more than compliance. It is the risk of possible breakdown of a strong nexus between insurance firms and motor car dealers that makes the business the top earner for the former.
Aslam Hunani presents some of the frequently asked questions about health insurance in India.
Bumper-to-bumper insurance cover for new vehicles will not be mandatory as suggested by the Madras high court in its order last month. Instead, the decision to make it mandatory or not will be left to the legislators and the parliament. On Monday, the court decided to modify its order, which had said that whenever a new vehicle is sold after 1.9.2021, it is mandatory for coverage of bumper-to-bumper insurance every year, in addition to covering the driver, passengers, and owner of the vehicle, for a period of five years.
Traditional plans are the biggest area of concern for consumers.
Replying to the no-confidence motion, Prime Minister Narendra Modi asserted on Thursday that the opposition's move is auspicious for his government as he expressed confidence that the Bharatiya Janata Party and its allies will break old records to retain power at the Centre in the 2024 Lok Sabha polls.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'
IRDA suggested that health insurance should cover alternative treatments.
The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
The government, they said, will launch a mega drive, Viksit Bharat Sankalp Yatra, across all 2.7 lakh panchayats in the country to reach out to beneficiaries and enrol them.
Advisors and agents known to you personally can also sell wrong policies.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
The 78-year-old Naveen is on the cusp of creating history. He must win the forthcoming Assembly polls to become India's longest-serving chief minister, a record held by Sikkim's Pawan Kumar Chamling.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Under a 2010 nuclear liability law, nuclear equipment suppliers are liable for damages from an accident, which companies say is a sharp deviation from international norms
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
Congress insists on sending legislation to select committee, says will support it in winter session.
Will appeasement, rising unemployment and her dictatorial style become major obstacles in her path? asks Payal Singh Mohanka.
Some packaged food makers have welcomed the move.
Almost 30% or a third of the agriculture ministry's budget, is spent on premium for the PMFBY every year
Finance ministry considers tax sops, regulation of hospitals to make health care affordable.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
With the discount, the third-party premium for vintage cars works out to Rs 625 from the present Rs 2,500.
Here's how the move will affect the banks' customers.
The situation raises concerns about whether the promised freebies will once again push the state into a revenue deficit.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
Announcing a Re 1 crop insurance scheme for farmers, the deputy CM said the government will bear the financial burden of Rs 3,312 crore.
Modi orders coal, insurance sector reforms.
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
'Article 370 laid down the edifice of the relationship between J-K and the Union of India.' 'If you look at the Article, what is there now is a provision which states that all provisions of the Constitution of India applies to J-K.' 'The veto that the state could exercise previously on most Union laws has ended.'
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
However, truckers have spared other vegetables, fruits, fuel and milk from the strike.
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