Has your motor insurance cowl lapsed?

The specter of heavy penalties below the amended Motor Vehicles Act has led to a windfall of sorts for coverage businesses—a surge in demand for motor covers. Several insurers have pronounced an upward push in inquiries and income. “We have visible growth of over 30%in sales throughout channels— company as well as online channels— this […]

IRDAI cracks down on misselling of tour insurance thru online price ticket booking portals

In order to minimize mis-selling of travel insurance thru online ticket booking portals and apps, IRDAI has directed insurers to ensure that the journey insurance option isn’t always pre-decided on as a default option on any ticket booking portal on the time of buying tickets online and additionally that tour insurance cannot be bought at […]

India cover intellectual health?

In 2017, the authorities surpassed the Mental Healthcare Act that mandated mental fitness to be blanketed through coverage groups. The Act, which got here into impact remaining yr, sooner or later promised intellectual fitness coverage, and said that every insurer will make a provision for health insurance to cowl treatment of intellectual contamination “at the […]

Insurance businesses can not exclude many ailments

BENGALURU: Inflow with the intention to gain lakhs of policyholders, coverage companies had been barred from excluding contamination related to dangerous work interest, synthetic life protection, the remedy of mental illness, age-associated degeneration and inner congenital diseases. The insurance regulator on Monday stated that age-associated illnesses along with cataract surgical treatment, knee-cap replacements, Alzheimer’s and […]

IRDAI cuts down exclusions in medical insurance

Says travel coverage can’t be pre-decided on option on web sites, apps In a patron friendly flow, the Insurance Regulatory and Development Authority of India (IRDAI) has now stated that insurers should make certain that travel portals do not make travel insurance a pre-decided on the alternative. It has also announced a set of pointers […]

IRDAI problems new norms to minimize existence insurance misselling

In a strong effort to growth transparency and reduce mis-promoting of life coverage guidelines, IRDAI has directed insurers to mandatorily issue benefit illustrations based on specific assumed fees of return as according to a prescribed format; get these signed by way of the policyholder and agent/insurer; make these a part of the policy; write a […]

ICICI Prudential tie-up to provide insurance

ICICI Prudential Life Insurance has signed a corporate business enterprise settlement with Airtel Payments Bank for easy get right of entry to to lifestyles insurance and financial savings plans for its clients, permitting them to provide financial security to their households and construct long-term financial savings. ICICI Prudential Life Insurance Managing Director and CEO N.S. […]

Soon pay medical insurance top class in installments

NEW DELHI: People in search of medical health insurance will soon have the option to pay top class on a monthly, quarterly and 1/2-every year basis further to the cutting-edge exercise of annual bills, as in line with a round issued via regulator Irdai. Irdai, in a communique to standard and standalone health insurers, has […]

Novel financing model objectives to deliver healthcare to the middle-class section

A group of hospitals in Karnataka is exploring a financing version to cope with gaps in healthcare that don’t get protected by means of non-public and authorities-run insurance schemes. “We are seeking to get a consortium of hospitals together in Karnataka wherein we create some thing like cooperative coverage,” Viren Shetty, Executive Director and Chief […]