After eight-year moratorium all health insurance claims to be paid, says IRDAI Once you have paid premiums for a health insurance policy for eight years continuously, your insurer will have to pay all claims as per the policy limits from April 1, 2021 onwards. Insurance Regulatory and Development Authority of India (IRDAI) in its guidelines...
Insurers get 9,700 claims worth Rs 150 crore for Covid-19 General insurers have received over 9,700 claims amounting to Rs 150 crore over Covid-19. The data from General Insurance Council shows that as on June 6, 2020, around 5,600 claims have been registered only in Maharashtra. Participants in the non-life insurance industry believes that given the...
Future Group looks to exit all its insurance businesses Future Group has held discussions with private equity fund True North, Sunil Munjal-promoted Hero Corporate Services and Azim Premji-promoted private equity fund PremjiInvest to sell off its promoter holding in the two insurance subsidiaries Kishore Biyani-promoted debt-laden Future Group is planning to exit both its general...
Projects worth Rs 21.11 lakh cr at a standstill in red zone districts: Report While the government has relaxed lockdown norms, as many as 8,917 projects worth over Rs 21.11 lakh crore across various sectors under execution in 108 red zone districts are at a standstill even now, a survey said. When the government announced...
At end of FY 2019-20, There are 34 Non Life Insurance companies and 24 Life insurance companies operating in India. One of every these insurance companies, at minimum, has over 10 nature of products in every insurance category. As Insurance industry itself often says “ Insurance is subject matter of solicitation”. Solicitation for what is...
With help of Insurance Broker, A customer can visualize entire insurance market in direction of its insurance needs. Customers do not need to run from one insurance company to another, to seek what is best available. Insurance Brokers understands a customer insurance requirement & objectives and thereafter approach insurance market in direction to what is...
Transparent and efficient claims management is pivotal to the success of both huge and small companies working within the insurance industry. Customers often realize important of assistance of insurance professional whenever claim occurs. Claim realization is ultimate objective of an insurance policy. It hurts customer sentiments & financial stability if claim does not get settled...
Liability insurance is a policy type that extends considerable protection to businesses houses and individuals from the risk that they may be held legally or sued for some type of negligence, malpractice or injury or alike. Some of the majority used types are as follows. Commercial General Liability Insurance/Public Liability/Third Party Liability This insurance basically...