Two-wheeler prices are likely to rise by 10-25 per cent on account of higher premiums on insurance and commodity prices, mandatory safety regulations and BS-VI emissions that kick in from April 1, 2020.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
The banking, financial services and insurance sector was the most targeted by scamsters, says Indeevar Krishna, head, operations and customer service, Max Life Insurance
The move would help insurance firms to get much needed capital from overseas partners.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
After Llyod's, many reinsurers keen to start ops in India.
According to Insurance Regulatory and Development Authority recommendations, a uniform grace period of 30 days is extended for annual, half-yearly and quarterly renewals, and 15 days for monthly renewals.
Under 'Claims Guarantee' the company guarantees to pay claims within 12 working days of receipt of all required death claim documents from the nominee or claimant, provided full premium is paid by the policyholder for at least three policy years and the required claim application documents are submitted.
The Financial Sector Legislative Reforms Commission, chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework.
The new Insurance Bill may take little time to see light of teh day.
Currently, the select committee is considering the Bill.
Section 45 in the new Bill says no claim can be repudiated after three years of the policy being in force, even if a fraud is detected, has sent life insurers into a tizzy.
Much of the tardy reaction to competition is the result of LIC's legacy.
In a last ditch attempt before the issue moves to a larger Constitutional bench, the government on Wednesday made a fresh pitch before Supreme Court for allowing voluntary use of Aadhaar cards for welfare schemes, saying it was prepared to give an affidavit by the "highest functionary" by Thursday morning that nobody will be deprived of benefits for lack of it.
Online policies are cheap because there is no agent's fee involved, other administrative costs of the insurance company are lower and, most importantly, these use the latest statistics for calculating premia.
IRDA suggested that health insurance should cover alternative treatments.
The Supreme Court on Thursday assured the Centre and bodies like SEBI and RBI that it will take a decision by Friday evening on their plea seeking setting up a larger bench for modifying an earlier order restricting the voluntary use of Aadhaar card to PDS and LPG schemes only.
The Insurance penetration in India is very low at 3.9 per cent.
IRDA's condition that treatment under AYUSH has to be at a government hospital or an institute recognised by the government makes insurance cover difficult.
There is discrimination against women in insurance cover. As a flood of insurance companies tap the capital markets with public issues, there is however, hardly any reference to this asymmetry. Subhomoy Bhattacharjee reports
The proposals have been made after extensive consultations with top officials from Sebi, finance ministry, RBI, IRDA and large market intermediaries
Choose insurance from stable companies that have been in the business for a long time
The first step that has been taken by IIB is to bring out unique identity numbers for hospitals.
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
Naval Goel of PolicyX answers some important questions before buying insurance policies
Life insurers are launching these again. Invest if you are conservative.
The other day I did a small gig on what a real estate agent says and how you should interpret it... today it is the turn of the insurance agent. :-)
The scrutiny is expected to be over this month itself.
Most policies have a 30-90 days waiting period, during which you will not be able to claim any hospitalisation expense, except in case of accidents.
Here's to being a responsible insurance buyer
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
It is your duty to be responsible to your health and start saving and investing early in a suitable health insurance, says Naval Goel
It might be a cheaper option, but lack of clarity is choking its growth
Finance ministry asks bank, insurance & market regulators to issue notifications
Insurance companies have worked over the years to simplify their claim settlement process
While that may be easy, what is not easy is to buy the policy that is right for you
Sanjay Kumar Singh tells you what to watch out for when buying insurance and investing in MFs online.
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