Insurance news-Insurance news

July 26, 2019

98% Indians buy health insurance for financial protection: Survey

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98% Indians buy health insurance for financial protection: Survey Indians predominantly buy insurance for tax-saving and investment purposes but are slowly recognising that it also means protection, said a new survey.According to PolicyBazaar.com’s latest findings, 98 per cent of respondents purchased health insurance for financial protection against medical
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July 25, 2019

What types of death are covered by term insurance? Find out

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What types of death are covered by term insurance? Find out Most people opt for life insurance covers so that in case of any unfortunate event, the dependents or the family members of the policyholder can be financially secure. However, did you know about certain kind of deaths that
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July 25, 2019

How to protect yourself from insurance frauds

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How to protect yourself from insurance frauds With insurance frauds on the rise, it is important to know how to protect yourself from scams considering there are many fake insurance policies in the market. It is important for a customer to remain aware about such scams, as generally unsuspecting
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July 25, 2019

Insurers under troubled mortgage lender are safe, says IRDAI

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Insurers under troubled mortgage lender are safe, says IRDAI The Insurance Regulatory and Development Authority of India (IRDAI) has assured the public that the insurance businesses of troubled mortgage lender DHFL are stable and have adequate solvency. Read More
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July 25, 2019

Insurance companies should follow IRDAI regulations while investing in Corporates: Subhash Chandra Khuntia

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Insurance companies should follow IRDAI regulations while investing in Corporates: Subhash Chandra Khuntia Insurance companies will have to abide by IRDAI regulations while investing in the corporate companies, says Subhash Chandra Khuntia, Chairman, Insurance Regulatory Development Authority of India (IRDAI). In an interview with Anurag Shah, Zee Business,
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July 25, 2019

How your returns can get hit if insurers overspend

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How your returns can get hit if insurers overspend The Insurance Regulatory and Development Authority of India (Irdai) recently issued an order against Reliance Nippon Life Insurance Co. Ltd for exceeding expenses of management (EoM) beyond the permissible limits. It was found that the insurer’s actual EoM for
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July 25, 2019

A large single non-life PSU is needed for market health: United India CMD

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A large single non-life PSU is needed for market health: United India CMD Following the 2018-19 Union Budget announcement to merge National Insurance Company, Oriental Insurance Company and United India Insurance Company, several new merger equations have been doing the rounds. Among others is the proposal is to
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July 24, 2019

Motor Vehicle Amendment Bill 2019: Top 5 Things You Need to Know

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Motor Vehicle Amendment Bill 2019: Top 5 Things You Need to Know The Motor Vehicle (Amendment) Bill has been passed in the Lok Sabha after a long discussion on Tuesday. The Bill was passed by a voice vote and several amendments moved by opposition members were also rejected
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July 24, 2019

Ways To Fight A Health Insurance Denial

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Ways To Fight A Health Insurance Denial When your health insurance claim is denied or your health insurer refuses pre-approval for care you need, you may think your hands are tied. But there’s actually a lot you can do to try getting that decision reversed.
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July 24, 2019

How to make sure your travel insurance doesn’t let you down

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How to make sure your travel insurance doesn’t let you down Before you head off on your summer holidays make sure you have travel insurance. Research by Sainsbury’s Bank has found that 2.3 million of us go on holiday without it. But if you fall ill or get
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July 24, 2019

How to make sure your travel insurance doesn’t let you down

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How to make sure your travel insurance doesn’t let you down Before you head off on your summer holidays make sure you have travel insurance. Research by Sainsbury’s Bank has found that 2.3 million of us go on holiday without it. But if you fall ill or get
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July 24, 2019

How new laws are helping insurance policies improve

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How new laws are helping insurance policies improve This year several new insurance regulations have been notified or proposed. These laws consist of many seemingly incremental changes but when put together become a meaningful step forward for policyholders. The regulations cover life insurance, both traditional and unit-linked insurance
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July 24, 2019

DHFL insurance subsidiaries have adequate solvency: IRDAI Chairman Subhash C Khuntia

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DHFL insurance subsidiaries have adequate solvency: IRDAI Chairman Subhash C Khuntia The insurance subsidiaries of Dewan Housing Finance (DHFL) do not have any liquidity concerns, said Subhash C Khuntia, Chairman of Insurance Regulatory and Development Authority of India (IRDAI). While the parent company DHFL is facing a debt
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July 24, 2019

Bangaloreans need to take motor insurance seriously

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Bangaloreans need to take motor insurance seriously Many of us don’t understand the importance of insurance and the role it plays in keeping us safe. According to a recent IRDAI report, a staggering 56 percent of two-wheelers in Bangalore are breaking the law by being underinsured. In fact,
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July 23, 2019

IRDAI relaxes repayment terms in suicide cases within 12 months

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IRDAI relaxes repayment terms in suicide cases within 12 months Good news for policyholders. Earlier, there were no regulatory provisions for any refund to a policyholder, during the first year of policy issuance, in case a person committed suicide, and life insurers could have legitimately denied any payment of
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July 23, 2019

Common reasons why your travel insurance claim might get rejected

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Common reasons why your travel insurance claim might get rejected For a lot of Indians, travel insurance is becoming an indispensable part of travelling as it not only acts as a safety net against unforeseen medical expenses but also safeguards you against other related travel emergencies that could
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July 23, 2019

Your life insurance plans get tweaked

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Your life insurance plans get tweaked The Insurance Regulatory Development Authority of India (Irdai) has simplified product regulations for the unit-linked products and non linked products. Let’s take a deeper look at the changes suggested by the regulator that may have an impact on you.
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July 23, 2019

Regulator raises alarm ovder poor health of national insurance company

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Regulator raises alarm ovder poor health of national insurance company The IRDAI has shot off a letter to finance minister rising the alarm over the deteriorating financial situaion of staterun general insurer National Insurance company limited Read More
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July 23, 2019

Here’s why insurance players aren’t too happy with the Motor Vehicles (Amendment) Bill

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Here’s why insurance players aren’t too happy with the Motor Vehicles (Amendment) Bill While the Motor Vehicles (Amendment) Bill would make way for Read More
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July 23, 2019

Opinion | After all the noise, traditional insurance still isn’t customer-friend

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Opinion | After all the noise, traditional insurance still isn’t customer-friend Other than reasons of lack of transparency and complicated structures, a high exit load—charge levied for early exit—is what makes traditional bundled life insurance plans the least favourite among financial planners and Mint’s personal finance team. In fact,
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