This is an initial assessment, but the actual loss to insurers will be known after the fire is completely doused and claims start pouring in.
The country's largest insurer Life Insurance Corporation, has decided to operationalise a system within two years that will allow policy holders to claim benefits and pay premium at any of its over 2,100 branches.
A term plan's premium is lower than that of a wholelife plan.
Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
The Commission concluded that the bank officials had evidently been negligent in failing to compare the signature prior to making payment, notes Jehangir B Gai.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Much of the tardy reaction to competition is the result of LIC's legacy.
The poll panel has asked state Congress chief Govind Singh Dotasra to respond to the notices by 3 pm on Thursday and 7 pm on Friday, respectively.
Most traditional health insurance plans didn't cover the cost of such treatments earlier, but several recently launched policies do offer such coverage -- some as a rider, and a few as standalone covers, points out Sarbajeet K Sen.
Life insurance premium rates are likely to drop over the next few months owing to longer life expectancy, with a new mortality and morbidity table expected to be in place by the fourth quarter of 2009 to replace the current one, which is of 1994-96 vintage.
NCP led by the former Union minister said the Election Commission had sought its response to a petition filed by Ajit Pawar, and the party submitted its "preliminary response" to the poll panel on September 7.
rediffGURU Samkit Maniar answers readers' personal income tax queries
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
An Indian national was let off lightly with a suspended eight-month jail term after it was found that he took advantage of racial tensions in Australia to falsely claim that he was set on fire.Jaspreet Singh, 28, had claimed that he was racially attacked in Melbourne after he reportedly burnt himself while torching his car to make an insurance claim.
The order said 865 villages from 12 tehsils in Belagavi, Karvar, Kalburgi and Bidar have been included under the Mahatma Jyotirao Phule Jan Arogya Yojana.
While there isn't any evidence to support its claims of being a 'biological insurance' for a child, many parents are opting for cord blood banking. Indulekha Aravind reports
China is also providing supertankers and insurance coverage to move Russian Urals crude to PRC ports, as Moscow seeks vessels for exports after a G-7 oil price cap restricted the use of Western cargo services and insurance.
Victoria Premier John Brumby on Wednesday attacked the Indian media and officials for unbalanced reporting; citing the case of Jaspreet Singh who police say pretended he had been set on fire in an unprovoked attack.
Roopam Asthana, CEO and whole time director, Liberty General Insurance, answers readers health insurance queries.
Insurance firms want more clarity before increasing foreign partner's stake.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
GIC Re hinted that it may increase its reinsurance premium in Nepal.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) will pay the depositors of 21 stressed cooperative banks, including the Punjab & Maharashtra Co-Operative Bank (PMC Bank), up to Rs 5 lakh within 90 days. The Reserve Bank of India (RBI) had imposed restrictions on the withdrawal of deposits from these banks. Of the 21 banks, 11 are from Maharashtra, five from Karnataka, and one each from Uttar Pradesh, Kerala, Rajasthan, Madhya Pradesh, and Punjab.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
Companies are using additional service workforce and offering part waivers on charges to affected car owners.
Infighting between Ashok Gehlot and Sachin Pilot has been out in the open throughout the Congress term.
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
England, who are gunning for their second World Cup title, have the most valuable squad in Qatar with Jude Bellingham topping a list of over 800 players.
Health insurance has almost 23 per cent market share in the general insurance space.
People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments. As a standard practice, all life and health insurance companies require people to wait for a specific period with respect to certain ailments and diseases to gauge the risk before selling a policy. This condition of waiting period for people who have recovered from coronavirus infection will be applicable only for life insurance policies.
'For the first time ever it has come below 1 per cent, at 0.97 per cent.'
'A policy that covers a wider range of diseases will offer greater peace of mind.'
The CBI is probing whether the former IRDA chief J Hari Narayan had misused his discretionary powers to favour Reliance General Insurance Company, which has admitted that the extra amount collected by it way of premium was not Rs 1.07 crore, as originally believed, but 20 times as much, report Paranjoy Guha Thakurta and Pranati B Mehra.
People may make right financial decisions but unless backed by efficient record keeping, the task is only half done. The importance of effective record keeping cannot be undermined. Here are a few tips to help keep your financial records in order.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
