Page 17 of insurance sector

Life insurance, Life insurance sector, insurance, lic claim settlement

Life insurance: Steps to ensure your claim is not rejected

The claim settlement ratio of private insurers was 97.02% in 2020-21 as compared with 97.18% in 2019-20.

September 12, 2022 00:45 IST

medical expenses, health insurance policy, health insurance plan, health insurance premium

Should you buy a multi-year health plan?

Multi-year health insurance policy: Such an insurance policy comes with several perks, including discounts on premiums and protection from premium…

Updated: September 9, 2022 08:17 IST

Poor combined ratios of health insurance firms a big hurdle in cutting premium rates, say insurers

Irdai chairman Debasish Panda recently said that a major challenge that needs to be addressed is the high price of…

September 6, 2022 02:15 IST

Insurance ombudsmen settle 40,527 complaints in FY22

As many as 3,830 cases were settled by the Bima Lokpal’s (ombudsman’s) Delhi office alone in the last fiscal.

September 3, 2022 01:05 IST

insurance market, insurance market in india, indian insurance market, insurance sector, insurance industry

India to be 6th largest insurance market by 2032; premiums to grow at 14 pc: Report

Considering the projected growth rate, the life insurance premiums in India are set to cross USD 100 billion for the…

September 1, 2022 17:49 IST

Embedded Value: Earn maximum bonus on the same premium

Insurers pay 20-35% of the sum assured as loyalty bonus for policies with above 25-30 years tenure

August 31, 2022 02:10 IST

Health Claims Exchange to be operational by October

National Health Authority will start using the exchange for processing claims under Pradhan Mantri Jan Arogya Yojana, and thereafter the…

August 26, 2022 03:20 IST

ESIC, EPFO numbers indicate labour market looking up

There has been a growing trend of new members joining the social security scheme since April 2022.

August 26, 2022 00:10 IST

Proposed 20% cap on agent commission could boost insurance industry

If implemented, the move would reduce costs for insurers and allow them to make products more affordable.

August 25, 2022 03:25 IST

RCap bidders seek shares of Reliance General Insurance

The shares of RGICL are currently held by IDBI Trusteeship Services (ITSL), sources close to the development said.

August 25, 2022 02:00 IST

This is the first time Irdai has prescribed premium growth guidelines for individual companies, a move that surprised the industry.

General Insurance Council mediates between insurers, Irdai over ‘aggressive’ growth figures

General insurers said it is an exciting time for the industry as the regulator has initiated many simplification and consolidation…

August 22, 2022 02:30 IST

Only beneficiaries mentioned by the insured will get the insurance proceeds after his death and neither the creditors or any government agencies will have a claim or control over the policy proceeds.

Married women’s property act: Gift your wife an exclusive term insurance policy

In this, the claim amount will go to them only and no creditor of any outstanding loan of yours can…

August 22, 2022 01:00 IST

insurance proposal form, insurance company, health insurance, life insurance policies

Your Money: Get the details right on the insurance proposal form

Wrong information given in the proposal form can lead to your insurance claim being rejected

August 19, 2022 02:00 IST

“Instances of multiple settlements of claims and claim payment in excess of sum insured signify major lapses,” it added.

CAG REPORT: PSU general insurers flouted finmin norms

Breached rules on underwriting, incurring combined loss of Rs 26,364 cr in 5 years through FY21

August 7, 2022 06:30 IST

Moreover, the retail business has the lowest loss ratio as compared to the government policies that carry the highest loss ratio.

Data Drive: Standalones standing tall

Retail health insurance has grown at a CAGR of 21% (FY11-21), largely because of rising awareness about the role health…

August 5, 2022 05:10 IST

Irdai moots raising maximum limits of insurance tie-ups for corporate agents

Issuing an ‘exposure draft’ on insurance intermediaries, the regulator said in order to facilitate “open architecture”, which will enable prospects…

August 4, 2022 08:12 IST

Irdai issues master guidelines on anti-money laundering in order to consolidate, update guidelines

The guidelines will be applicable to all classes of life, general or health insurance business.

August 3, 2022 03:10 IST

Irdai proposes 30% cap on management expenses

It is proposed that an insurer shall be allowed an additional allowance towards the insurtech expenses incurred to the extent…

August 3, 2022 02:40 IST

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