LIC said USTR's views are based on an incomplete understanding of Indian insurance regulation and LIC's functioning.
'Solutions developed in India are being commercialised and offered globally because we're executing at scale, creating new markets and revenue streams.'
In its master circular on general insurance products, which takes immediate effect, Irdai specified, 'The customer may be required to submit only those documents directly related to claim settlement.'
The government aims to cover around 60 million people in the age category, irrespective of income, with an assured 5 lakh annually to be shared within the family.
For online plans, the drop-out rate for policy buyers increases if there are too many questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Even if you have a comprehensive motor insurance policy, it may not provide sufficient protection against monsoon-related risks.
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
Zero depreciation cover ensures that the insurer pays the full replacement cost of parts such as bumpers, headlamps, side mirrors, and plastic fittings.
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
'The impact will be minimal and it will only increase compliance cost on consent, data flows, localisation timelines, internal audits, data mapping, and new tooling.'
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
EPF nominations decide inheritance -- here's what happens if you don't file.
If they act now, they can reshape the strategic map of Asia without firing a shot. If they wait, the next opportunity will come only after a serious Taiwan Strait incident -- by which time the price will be far higher, and the room for boldness far smaller -- the opportunity may well be lost by then. The question is no longer whether this can or should be done, points out Varun Arya.
'We sent just 500 people from India to the US on H-1B visas. There is no dependence on H-1B visas.'
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
'As we get older, our health risks increase, and this makes health insurance significantly more expensive for seniors.'
'I now see rates rising again, particularly after recent losses - especially the January wildfires in Los Angeles.'
According to IRDAI, Marsh India had held the premium received from the clients in an Insurance Bank Account for more than 15 days and did not remit the premium to the insurer/reinsurer within the time limit of 15 days.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Mukesh Kumar, Executive Director HDFC ERGO General Insurance Company, tells you how you can benefit by doing so
The Uttarakhand High Court has ruled that a driver cannot be presumed to be under the influence of alcohol solely based on the smell of liquor without scientific evidence.
Have a query regarding health insurance or mediclaim policy? Maybe we can help. Drop us a line and our expert, Harsh Roongta, CEO of Apnapaisa.com, will answer it.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The Association of Healthcare Providers - India (AHPI), representing hospitals and healthcare institutions across the country, has advised its members in north India to stop providing cashless treatment facilities for policyholders of Bajaj Allianz General Insurance Company, with effect from September 1.
It is similar to top-up health insurance plan, but provides for one or more claims cumulatively crossing the threshold limit.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
The alarming level of life insurance policy misselling has caught the attention of policymakers amid efforts by the insurance regulator to boost insurance penetration, a top official from the Insurance Regulatory and Development Authority of India (Irdai) said on Tuesday. According to Satyajit Tripathy, member-distribution at Irdai, while life insurance grievances often relate to product issues, non-life insurance complaints typically concern claim payments and exclusions. Addressing these grievances is essential to increasing insurance penetration, he said.
These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
Tejashwi who is meeting senior Conngress leader Ashok Gehlot on Wednesday is expected to be announced as the CM face of the Mahabgathbandhan on Thursday.
In 2025, Indian firms may face higher premiums for fire and engineering insurance covers as reinsurers are likely to revise rates due to rising claims from catastrophic events and higher loss ratios, according to people in the know.
Subscribers of the retirement fund body EPFO may soon be able to withdraw claim amounts from their accounts through ATMs, a top official said. Union Labour Secretary Sumita Dawra has reportedly said that the labour ministry is upgrading information technology infrastructure to provide enhanced services to the Indian workforce.
India's BFSI sector is set for robust growth, with hiring projected to rise 8.7 per cent in 2025-26 and touch 10 per cent by 2030, creating nearly 2.5 lakh permanent jobs, a report said on Thursday. This growth in the Banking, Financial Services, and Insurance (BFSI) sector is being driven by rising demand in tier II and III cities, marking a clear shift from metro-centric recruitment.
A senior life insurance official point out there have also been cases involving former insurance agents.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
Motor insurance is expected to generate largest claims for the companies whereas for crop insurance, the Agriculture Insurance Company is expecting claims of about Rs 15-16 crore
'The E20 usage accrues the huge benefit to the nation, to the society, to the farmer, to the environment, to the exchequer and all of us'
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
