INSURANCE FOR ALL
Why can your insurance claim get rejected & how to avoid it?
All health insurance policies have a life-long renewal clause which the regulator has mandated. They cannot be rejected and your pricing cannot go up purely because you have a condition right now. So, certain benefits are inbuilt and benefits that the customer can take, says Deepak Yohannan, CEO, MIC Insurance Web Aggregator
Ravindra Jadeja: A thoroughbred who found his own course
Jadeja's quiet retirement marked the end of an era, overshadowed by star teammates. Despite consistent contributions, his impact often went unnoticed, showcasing his resilience and value beyond statistics.
Health insurer Niva Bupa files for Rs 3,000 crore IPO
The company, majority owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to eight billion rupees as part of the offering.It aims to use the proceeds from that sale to strengthen its balance sheet and for operating expenses.
Bima Bharosa portal for insurance grievances: Step-by-step process to register an insurance-related grievance
Bima Bharosa has been launched by the Insurance Regulatory and Development Authority of India (Irdai) to serve as an online platform for grievance redressal of insurance policyholders. Here’s a step-by-step process to register an insurance-related grievance on the portal.
What is the difference between deductible, co-payment in a health insurance policy
If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In the fifth part of this series, ET Wealth explains the difference between deductible and co-payment.
Get Rs 10 lakh insurance policy at Rs 555 premium: New accidental insurance cover launched; know features, where to buy
India Post Payments Bank (IPPB) has recently launched personal accident covers at an affordable premium. There are various variants of Health Plus and Xpress Health Plus. From coverage to premium to benefits — read all about the new accident covers before you invest.
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Truecaller, HDFC ERGO tie up for insurance product to safeguard subscribers from digital frauds
Caller identification app Truecaller on Thursday said it has collaborated with general insurance company HDFC ERGO for an offering that aims to safeguard subscribers against digital communication frauds in India. Truecaller in a release said that amid rising cases of cyber fraud, the insurance offering underscores its commitment to combating fraud and ensuring user protection through advanced app features - before, during and after mobile communication.
Amarnath Yatra 2024: How to register, routes, and do's & don'ts; All you need to know
The annual Amarnath Yatra to the 3,880-meter-high cave shrine in south Kashmir starts on June 29 and will conclude on August 19. The Jammu and Kashmir administration has made extensive arrangements for the pilgrims, including registration, safety measures, and medical facilities. The pilgrimage features two routes, elaborate security, and services like RFID tracking, insurance, and helicopter rides. This year, over 3.50 lakh pilgrims have registered, with hundreds of community kitchens and 38 mountain rescue teams ensuring their safety.
Three state insurers may get Rs 5,000-cr infusion for revival
The Indian government may delay the planned privatisation of state-run general insurers, instead focusing on strengthening three insurers - Oriental Insurance Co. Ltd, National Insurance Co. Ltd, and United India Insurance Co. Ltd - through capital support and business revival plans. The government is expected to infuse about ₹5,000 crore into the insurers this fiscal, shelving any privatisation plan this fiscal.
InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
LIC warns policyholders about offers to buy their current insurance policies
The life insurance behemoth has urged all policyholders to proceed with extreme caution before making any decisions about their policy that might compromise their family's risk coverage and financial stability.
HDFC ERGO General Insurance elevates Anuj Tyagi as MD and CEO
HDFC ERGO General Insurance promoted Anuj Tyagi as the new managing director and chief executive, succeeding Ritesh Kumar effective July 1. Tyagi, with the company since 2008, previously served as joint managing director. Kumar will transition to ERGO International's board and become the deputy COO focusing on Asian growth markets. The appointment is pending approvals.
What Is zero depreciation in car insurance?
Car owners are advised to drive responsibly to save on insurance premiums and claim settlements. The concept of zero depreciation insurance ensures full invoice value payment during claims. This add-on is beneficial for new, luxury, or frequently-driven cars, and those in high-risk areas.
SOPs for faster sanction of loans, insurance in works
The Centre is collaborating with financial institutions to create a common application form and SOPs for faster sanction of financial services like loan disbursals and insurance under key schemes.
Now, customise motor, home insurance policies: Irdai
The IRDAI master circular, which repeals all earlier circulars and guidelines, was released on 11 June 2024 and suggests providing wider choice and options to customers. It follows a master circular on health insurance released on 29 May.
Ayushman coverage to all over 70 years, roll out of U-WIN in health ministry's 100-day agenda
The new government under Narendra Modi aims to extend Ayushman Bharat coverage to individuals above 70 years and implement the pan-India roll out of the U-WIN portal for digitizing routine vaccinations as part of the 100-day agenda for the Union health ministry.
All insurers must offer basic cover, meet settlement deadlines: IRDAI
IRDAI announced customer-centric measures, requiring general insurance companies to offer basic insurance products with clear coverage details on their websites for easy comparison and customization.
What are riders with insurance policies? All you need to know
Riders are essentially additional benefits that one can purchase and add to an existing policy.
Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance
In November last year, Zurich Insurance Company announced plans to acquire a 51 per cent stake in Kotak Mahindra General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional stake of 19 per cent within three years from the initial acquisition for Rs 5,560 crore.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
One portal for all health insurance claims: How claim settlement process will change with NHCX
NHCX is a digital platform developed by the National Health Authority and Union Ministry of Health and Family Welfare as part of the Ayushman Bharat Digital Mission. It is being created on the recommendation of the joint working group of the Insurance Regulatory and Development Authority of India (Irdai) and NHA.It brings all the players involved in the claim process, including payers and providers, to one place. Irdai has urged all the players to onboard the platform, and many have already done (Text by Riju Mehta/ET Bureau).
Insurers worried over surrender value rule
Life insurance companies have expressed concerns over proposed regulatory changes that would offer higher surrender values to policyholders the first year itself. Industry representatives have sent their feedback saying that these reforms could severely impact profitability and policy persistence.
Maternity insurance: 5 things to know
Maternity Insurance is a type of health insurance policy that offers coverage for all pregnancy-related expenses.
Shriram General Insurance records Q4 net profit at Rs 121 crore; GWP rises 34%
Commenting on the financial performance, Shriram General Insurance Company Ltd MD and CEO Anil Aggarwal said, "The year gone by has been a milestone for our business as we recorded the highest ever growth since we began our operations in 2008. Our Gross Written Premium rose to 34 per cent exceeding the industry growth of 12.8 per cent."
No tax exemption on concessional or interest free loan from the employer, not even for bank employees, says SC
Tax on concessional interest rate loan: The Supreme Court of India has stated that bank employees have to have income tax if they have availed loan from their employers at concessional interest rate or interest free rate. However as per our calculations, even if bank employees pay income tax on this loan, they will still have some savings.
Irdai directs cos to meet social sector obligations
Irdai, the sector regulator, has issued a master circular directing life and non-life insurance players to meet certain percentages of business compulsorily towards rural, social sector, and motor third-party obligations by 2047. Life insurers must ensure a minimum percentage of lives in identified and allocated gram panchayats.
Midas: Check out all the information about theatrical release date, storyline and cast
Midas is the story of a college dropout, who tries to rob an insurance company along with his friends. The movie will hit the theatres in the US on June 28.
Self-reliance! Mutual funds holding in NSE-listed companies at all-time high in Q4 even as FIIs pull away
The share of FIIs was down by 51 bps quarter-on-quarter (QoQ), resulting in the gap between FII and DII holdings narrowing further to an all-time low in this quarter. The DII holding is now just 9.23% lower than the FII holding.
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