Flood insurance claims can be rejected or reduced if homeowners do not understand what their policy actually covers.
'Many policyholders do not understand that non-medical expenses, cosmetic treatments, and certain other procedures are not covered by health insurance policies.'
Insurers are bracing for claims worth nearly 5,000 crore from the recent floods in Gujarat, predominantly for property losses, though they do not foresee an increase in premiums within the competitive property insurance market.
Many claim disputes arise not because the insurer refuses to pay but because policyholders don't know the claim process, miss important documents or misunderstand what their policy covers.
The Insurance Regulatory and Development Authority of India's (Irdai) recent actions against insurers for breaching expense of management (EoM) limits indicate a serious commitment to enforcing operating and distribution cost controls, according to industry experts.
Protect your vehicle from the unpredictable monsoon season by understanding essential motor insurance add-ons like Engine Protect and Zero Depreciation, crucial for covering damages from floods, waterlogging, and preventing costly out-of-pocket expenses.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
A consumer disputes commission in Mumbai has directed National Insurance Company Ltd to pay a liquor wholesaler over 1.2 crore for stock ruined during the 2017 Mumbai floods, deeming the claim rejection 'arbitrary and unreasonable'.
If reimbursement becomes unavoidable, submit a complete file at the earliest.
Combine a robust base health plan with a super top-up, critical illness cover and a dedicated medical corpus to protect household finances from soaring treatment costs.
Here's decoding the fine print so that you know exactly what your health insurance policy covers, what it doesn't and the policy conditions that deserve your attention before you need to make a claim.
The National Health Authority (NHA) is promoting the National Health Claims Exchange (NHCX) to standardise and simplify health insurance claims processing in India, aiming for a seamless and reliable digital infrastructure similar to UPI.
If nominees pass away, distribution is governed by succession laws of insured's religion.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
A debt-ridden man in Jalna allegedly staged his own death to escape financial liabilities and claim an insurance benefit of Rs 20 lakh by masterminding the killing of his acquaintance, whose body was found inside a gutted car.
The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.
The best time to buy health insurance is when you don't think you need it.
A man wanted for nearly nine years in connection with the murder of a woman for an alleged Rs 50 lakh insurance claim and property has been arrested in Bihar, Delhi Police said. Another accused in the case was found to have died in 2018.
Most owners assume car insurance covers everything, but hidden exclusions can lead to claim rejections and unexpected financial shocks.
Proposal forms are often filled by the agent. Check the form after it is filled.
Marriage, childbirth, dependent parents and ageing increase the cover a person needs.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
Tata Consultancy Services (TCS) and Google Cloud have inaugurated a new Gemini Experience Center (GEC) in Mexico City. This facility, the second in Latin America and ninth globally for TCS, is equipped with over 3,000 AI agents and aims to drive industry-specific AI solutions across various sectors. It will help organisations bridge the gap between AI experimentation and implementation, enhancing innovation and data-driven decision-making in the region.
The Indian government has dismissed concerns that the use of E20 fuel could affect the validity of vehicle insurance policies, stating that the ethanol blending programme remains safe, consumer-friendly, and economically beneficial.
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
Taxpayers must provide more details to support deduction and exemption claims.
A police constable and a Home Guard personnel in Beed, Maharashtra, were caught by the Anti-Corruption Bureau for demanding and accepting a bribe of Rs 10,000. The bribe was sought from a man for providing documents needed to file an insurance claim after his father's death in a road accident. The accused are facing charges under the Prevention of Corruption Act.
Nine individuals, including a government medical officer and four police officers, have been arrested in Jalgaon for allegedly conspiring to fraudulently claim insurance money by faking a road accident death.
The rules require nuclear plant operators to maintain an insurance policy, financial security or a combination of both to cover civil liability for nuclear damage.
Understand your travel insurance policy before travelling abroad this summer. This article outlines what travel insurance covers, including trip cancellations, missed connections, and medical emergencies, and what it excludes, such as war-related disruptions and pre-existing conditions.
Police in Palghar have registered a case against a doctor and four others for allegedly creating fake documents to claim insurance commissions.
Mumbai has spent four centuries building folklore around its monsoon: The potholes, the delayed trains, the office debates about whether it will 'break' this week or next. It turns out the rain was always a market. Nobody had built the exchange for it until now!
As heart disease increasingly impacts young Indians, understanding the complexities of health insurance, including higher premiums, waiting periods, and the benefits of specialised cardiac policies, becomes vital for financial protection.
A junior clerk in Nagpur was arrested for allegedly accepting a bribe to process a medical reimbursement claim, according to the Anti Corruption Bureau.
A doctor in Anantnag, Jammu and Kashmir, has been suspended following an inquiry into alleged large-scale procedural irregularities, including a pacemaker implantation scam where nearly 50 per cent of evaluated patients underwent unnecessary advanced cardiac surgical procedures. The inquiry revealed fraudulent insurance claims, patient exploitation, and manipulation of medical records.
Policy owners need to avoid errors on their part to prevent claims from being denied.
The Indian government has allocated an additional 2 million tonnes of surplus broken rice from FCI stocks for its ethanol blending programme, while simultaneously issuing a detailed rebuttal to widespread misinformation regarding the E20 fuel, addressing concerns from water consumption to engine damage and environmental impact.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
An Home Loan Protection Plan repays the outstanding loan if the borrower dies or suffers a covered disability.
