Covid-19: IRDAI has extended the grace period for policy holders to pay their premium till May 31, 2020.
Insurance Regulatory & Development Authority of India (IRDAI) has further extend the grace period for renewal of life insurance policies which were due in March. The new extended date is 31st May as the lockdown has been extended twice by the authorities to fight the Covid-19 pandemic. Earlier on March 23rd and April 4th, the insurance regulator had announced an […]
5 reasons why you should buy long-term health insurance to secure your finances, health
In India, many people avoid buying insurance, thinking it is an unnecessary expense. People in their early 20s believe that they are fit and nothing can happen to them ever. Some, on the other hand, believe that they need to start worrying about health only after they reach 50 years of age. However, that’s not […]
Health Insurance Cost to more
KRA- Health Insurance Cost to more Biggest non-life insurer hikes med rates by 25% Mumbai: India’s largest nonlife insurer New India Assurance (NIA) has increased premium on health insurance by an average of 25% for individuals. Along with the revision in rates the company has done away with the rate differential based on region and […]
Insurance companies must play active role in investee firms’ meetings
The insurance regulator has asked companies to play an active role in the general meetings of investee companies and engage with the management at a greater level to improve governance so as to increase returns on investments for insurers. “Insurance companies are significant institutional investors in listed companies and the investments are held by them […]
Insurance ownership among women increases in India
Women in urban India registered a sharp increase in life insurance ownership and awareness over the last 12 months, according to Max Life Insurance’s India Protection Quotient 2.0 (IPQ 2.0) survey released in conjunction with Mother’s Day. (SOURCE: Asia Insurance Review- May 11, 2020)
DHFL General Insurance to start operation soon
KRA- DHFL General Insurance to start operation soon DHFL General Insurance on Thursday said it has received certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI) and will start its business operations soon. The venture has been promoted by Wadhawan Global Capital(WGC), whose flagship brand is Dewan Housing Finance Ltd (DHFL), a listed entity. Our general insurance venture […]
IRDAI approves 16 new applications under regulatory sandbox
Insurance Regulatory and Development Authority of India (IRDAI) has approved the 2nd tranche of approvals under the regulatory sandbox. The regulator had invited applications in September 2019 and an evaluation committee constituted by the regulator has shortlisted the applications and sent its recommendation to the regulator. The approvals for life and non-life insurer is from 1st May 2020 to 31st October […]
Arogya Sanjeevani: A straightforward, reasonably priced health plan
Insurance companies have been asked by the regulator, IRDAI, to offer a standard health cover called Arogya Sanjeevani. Gurdeep Singh Batra, Head-Retail Underwriting, Bajaj Allianz General Insurance, says “It’s a straightforward policy, has easy wordings, is easy to understand, and comes with a good coverage at a reasonable price.” These policies come with standard coverages, […]
How COVID-19 accelerates the digitalisation of the insurance customer journey
COVID-19 has made us uncomfortable and anxious. It’s also fair to say that it has changed us … and our habits. My colleagues have addressed this pandemic from several angles already, so I’m going to stick to just one – digitalisation. Throughout human history, every challenge we’ve faced has made us more resilient. This pandemic […]
India:Govt could review need for Nat CAT pool
The Indian government is likely to reassess the need to establish a natural catastrophe insurance pool due to mounting economic losses from a series of such events in India over the past three years. Sources say the government may revisit a pool-like arrangement to offer natural catastrophe insurance covers that would protect property and dwellings […]
