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  • COVID-19-recovered patients face tougher renewals, porting difficulties May 11, 2021 01:25 PM IST

    COVID-19-recovered patients face tougher renewals, porting difficulties

    Insurance companies say that loss ratios have exceeded 110 percent and some steps are being taken to keep claims under control; accepting all recovered policyholders at the same cost will hurt firms, they say

  • Have seen increased death claims due to COVID-19: Edelweiss Tokio Life Insurance May 11, 2021 10:43 AM IST

    Have seen increased death claims due to COVID-19: Edelweiss Tokio Life Insurance

    The full impact of the second wave on life insurance claims is yet to be seen, says Executive Director Subhrajit Mukhopadhyay

  • Life, non-life insurers see double-digit premium growth in April May 07, 2021 07:09 PM IST

    Life, non-life insurers see double-digit premium growth in April

    Life insurers saw a 44.8 percent growth in first year premiums while non-life insurers saw 22 percent YoY growth.

  • LIC relaxes claim settlement document requirements amid COVID-19 crisis May 07, 2021 03:36 PM IST

    LIC relaxes claim settlement document requirements amid COVID-19 crisis

    LIC will accept documents like death summary from government, armed forces and also hospitals to make the claims settlement process quicker.

  • 4 lesser known insurance policies to claim from if you lose a loved one to COVID-19 May 07, 2021 11:14 AM IST

    4 lesser known insurance policies to claim from if you lose a loved one to COVID-19

    These are typically add-on covers. Most of them come absolutely free or with very nominal charges

  • Checking into a hotel for COVID-19 treatment? Here's how you can claim reimbursement from your insurer May 06, 2021 10:12 AM IST

    Checking into a hotel for COVID-19 treatment? Here's how you can claim reimbursement from your insurer

    If the admission to hotels is on the recommendation of the treating doctors and hospitals, the claim will be paid

  • Want to take health insurance cover for your parents during COVID-19? Here are the options May 04, 2021 11:56 AM IST

    Want to take health insurance cover for your parents during COVID-19? Here are the options

    Apart from your employer given insurance, you can take a senior citizen cover and a super top-up policy

  • LIC sees Rs 3.76 lakh crore additions in equity holding value in FY21 May 03, 2021 02:44 PM IST

    LIC sees Rs 3.76 lakh crore additions in equity holding value in FY21

    The country’s largest insurer saw its equity holding value rise to Rs 7.69 lakh crore in FY21 as against Rs 3.93 lakh crore a year ago, representing a whopping 96 percent year-on-year growth

  • Taking treatment for COVID-19 at home? Here’s how you must file your health insurance claim May 03, 2021 10:29 AM IST

    Taking treatment for COVID-19 at home? Here’s how you must file your health insurance claim

    Corona Kavach policies cover the cost of treatment at home

  • COVID-19: Here’s a primer on getting insurance claims settled on time May 01, 2021 02:16 PM IST

    COVID-19: Here’s a primer on getting insurance claims settled on time

    Keep a list of documents and medical bills ready for quick claims settlement. If your insurer has a tie-up with a local hospital, opt for it.

  • Exclusive | COVID-19 second wave: Amid tussle between hospitals and insurers, 171,000 claims await settlement Apr 30, 2021 02:48 PM IST

    Exclusive | COVID-19 second wave: Amid tussle between hospitals and insurers, 171,000 claims await settlement

    The delays in clearing claims are primarily because of disagreements between hospitals and insurance companies over the claim amount and charges imposed. As of April 28, there were 1.1 million Covid-19 health claims worth Rs 15,568 crore filed with insurers. Of these, 930,729 claims worth Rs 8,918.57 crore have been settled.

  • Insurers will now have to authorise COVID-19 cashless claims within 60 minutes Apr 29, 2021 06:11 PM IST

    Insurers will now have to authorise COVID-19 cashless claims within 60 minutes

    A Delhi High Court order dated April 28 directed IRDAI to advise insurers to communicate their cashless approvals to hospitals within 30-60 minutes.

  • Ageas Federal Life FY21 profit dips 20% to Rs 119 crore, total premium up 6% Apr 29, 2021 03:47 PM IST

    Ageas Federal Life FY21 profit dips 20% to Rs 119 crore, total premium up 6%

    The insurer, in a statement, said the growth was driven by a 24 percent YoY rise in individual new business premium to Rs 504 crore and a 4 percent YoY rise in renewal premium to Rs 1,327 crore.

  • Health insurers were the winners of FY21 Apr 28, 2021 06:27 PM IST

    Health insurers were the winners of FY21

  • General insurers seek higher rate for third-party motor insurance as losses mount Apr 28, 2021 01:56 PM IST

    General insurers seek higher rate for third-party motor insurance as losses mount

    Insurers say their viability is at stake as losses are mounting, and the regulator did not increase third-party insurance rates in FY21, but transporters are opposing the move saying higher premium will amplify their stress

  • Are life insurers still reluctant to cover frontline COVID doctors? Apr 28, 2021 10:23 AM IST

    Are life insurers still reluctant to cover frontline COVID doctors?

    Some doctors say higher value term covers are elusive and that they are made to sign additional declarations while applying for life insurance polices

  • COVID-19 claims: Insurers look to redraft service-level agreements with hospitals Apr 27, 2021 12:47 PM IST

    COVID-19 claims: Insurers look to redraft service-level agreements with hospitals

    Many hospitals are not ready to settle cashless claims despite agreements with insurers. Facing the heat from the finance ministry and the regulator, insurers are looking to tweak these agreements and remove errant hospitals from the network.

  • HDFC Life Insurance Q4 net profit rises 2.3% to Rs 319 crore Apr 26, 2021 03:40 PM IST

    HDFC Life Insurance Q4 net profit rises 2.3% to Rs 319 crore

    HDFC Life's Value of New Business (VNB) increased by 14 percent YoY to Rs 2,185 crore.

  • How to buy a health insurance policy that covers pre-existing ailments from day 1 Apr 26, 2021 11:35 AM IST

    How to buy a health insurance policy that covers pre-existing ailments from day 1

    Aditya Birla Health Insurance and Star Health have come with plans that cover your pre-existing conditions immediately after buying the policy

  • IRDAI to direct insurers to prioritise COVID-19 claims, says Finance Minister Nirmala Sitharaman Apr 22, 2021 08:06 PM IST

    IRDAI to direct insurers to prioritise COVID-19 claims, says Finance Minister Nirmala Sitharaman

    As on April 20, a total of 900,000 COVID-19 health claims worth Rs 8,642 crore were settled by insurance companies.

  • COVID-19 second wave insurance claims: Younger patients, longer hospitalisation Apr 22, 2021 12:40 PM IST

    COVID-19 second wave insurance claims: Younger patients, longer hospitalisation

    Though the second wave is more ferocious, insurers believe they are better-prepared in the light of last year’s experience

  • Post COVID-19 troubles: Recovered people find higher exclusions, rise in insurance denials Apr 21, 2021 01:35 PM IST

    Post COVID-19 troubles: Recovered people find higher exclusions, rise in insurance denials

    Insurance companies, facing almost 10 lakh COVID-19 claims worth Rs 14,000 crore, are either denying new policies to people who recover from the disease, or inserting harsh clauses, fearing big claims in the future, but vaccination is likely to restore normalcy even though the premium may be high.

  • LIC collects Rs 1.84 lakh crore in new premiums, its highest ever in FY21 Apr 20, 2021 09:43 PM IST

    LIC collects Rs 1.84 lakh crore in new premiums, its highest ever in FY21

    LIC's market share was 81.04 percent in number of policies for the month of March 2021 and 74.58 percent for the year.

  • DAILY VOICE | Next big multibaggers could come from Insurance & AMC sector: Hemang Jani of Motilal Oswal Apr 20, 2021 08:15 AM IST

    DAILY VOICE | Next big multibaggers could come from Insurance & AMC sector: Hemang Jani of Motilal Oswal

    After two consecutive quarters of solid earnings beats and upgrades, we expect another strong quarter, aided by a deflated base of Q4 FY20 and healthy demand recovery for the large part of Q4 FY21, said Jani.

  • ICICI Prudential Life Insurance Q4 net profit down 65% Apr 19, 2021 07:59 PM IST

    ICICI Prudential Life Insurance Q4 net profit down 65%

    The life insurer's Value of New Business (VoNB) for the quarter grew 26 percent YoY to Rs 591 crore. The Board has approved a final dividend of Rs 2 per equity share for FY21.

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