Expenditure on health in India is at a global low of 1.2% of GDP.
Prime Minister Narendra Modi on Friday slammed the Aam Aadmi Party as an 'aapda' (disaster) for Delhi, saying this 'aapda' had taken the national capital in its grip in the past 10 years.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
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Foreign investment cap in insurance sector raised to 49 per cent.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
The Insurance penetration in India is very low at 3.9 per cent.
People without health insurance are less likely to get recommended for cancer screening tests, the study also found, confirming earlier research. And when these patients finally do get diagnosed, their cancer is likely to have spread, The Columbian reported on Friday.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The Brookings Institution, a think tank associated closely with the US administration, recently expressed keen interest in it.
Iffco Tokio General Insurance is hoping to step up growth by focusing on motor and health insurance.
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.
Suresh Chand, 46, had pleaded guilty on September 2, 2009, to one count of conspiracy to commit health care fraud and one count of conspiracy to launder money in Medicare Fraud Scheme.
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.
Its not so tough to improve insurance coverage at nominal cost.
The government on Friday said it intended extending coverage of its flagship health insurance scheme for poor families to auto-rickshaw drivers, cycle rickshaw pullers, street vendors and rag-pickers.
Many other companies have expressed intent of diluting stakes.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Although the company has shown willingness to talk to its workers and accept their key demands, it is CITU that is causing a roadblock to a solution.
Beneficiaries to get hospitalisation cover up to Rs 30,000.
Information-technology (IT) services major Cognizant has kept its full-year guidance on revenue growth unchanged at 3.5-6 per cent in constant currency even as the industry is becoming cautious about macro conditions because of tariff wars.
While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far.
There are host of policies one needs to manage. These include property, business continuation, health, and life.
Giving an exit route to health insurance policy holders, the IRDA said people subscribing to such policies with a cover for three years or more can surrender them within 15 days if they are not satisfied with the terms and conditions of the agreement.
The board of Religare Enterprises Ltd (REL) has rallied behind its embattled chairperson Rashmi Saluja, saying she had turned around the financial services company whose market cap has increased to about a billion dollars from under $100 million in March 2018. The board -- which is fending off an Rs 2,200 crore open offer by the Burman family -- said accusations had not only targeted Saluja but the entire Religare management that has made Religare debt free. "Our story has been one of resurgence under the guidance of the Board of Directors led by Saluja, executive chairman.
The latest tension between the two states cropped up after the Shinde government recently announced that it would allocate an additional Rs 54 crore for its 'Mahatma Jyotiba Phule Jan Arogya Yojana', so that the benefits could be extended to the border villages in Karnataka that Maharashtra has been laying claim to.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
The move comes amid a border row over Belagavi between Karnataka and Maharashtra which flares up from time to time.
A top up insurance would cost far lesser than a fresh insurance policy for a higher sum insured
Life insurers need applicants to abstain from tobacco for up to five years.
With natural and man-made calamities posing a risk to your home, it makes sense to buy home insurance
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
Join us for an online chat with health insurance expert Anil Rego between 2 pm and 3 pm on Thursday, February 15.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
