Insurers cannot force vehicle owners to buy a long-term cover and the customer can choose to only buy a one-year personal accident plan if he/she wants
A long term comprehensive policy is applicable only for new cars & new bikes. It covers cars for 3 years & bikes for 5 years for both vehicle damage and third party.
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Senior executives from public sector general insurance companies will discuss ways to modernise their business at the two-day meet
Those surveyors scoring marks below 40 will be removed from service by the insurance company
A car owner should evaluate a car Insurance on the basis of premium, value added benefits/Add-ons and Customer's experience with Insurance company.
LIC has come to the rescue of large financial institutions on multiple occasions.
Sangwan retired from the position on September 30
About 35% of the respondents wanted insurers to offer a product that provided a life cover and returned the premium at the end of the policy term
Insurance companies will also have to make a detailed disclosure on their equity holdings in IL&FS and its group companies by October 30
About 6 lakh people in Jammu & Kashmir will be covered in the first such mass health scheme
The FDI policy, at present, allows 49 percent foreign investment in the insurance sector that encompasses insurance broking, insurance companies, third party administrators, surveyors and loss assessors as defined by the Department of Industrial Policy and Promotion (DIPP).
IRDAI allows you to port your health plan from one insurer to another and not miss out any accumulated benefits in the meanwhile.
Only LIC, Orix Corporation and Abu Dhabi Investment attended the meeting
Once the proposal is finalised, IRDAI will have to give its nod to data sharing by insurers
Cyber insurance offers coverage against various cyber-attacks and threats, helping the individuals in protecting their reputation, potential data breaches and losses in case any vital, financial or sensitive information is stolen or misused
Here are some of the common mistakes that people make while purchasing health insurance and some suggestions to avoid them which will make for a happy claim experience
The product will offer 100 percent of the sum assured as an additional lumpsum benefit if cancer is diagnosed at an advanced stage
SBI will sell stake to Axis New Opportunities Fund (Axis AMC) and PI Opportunities (Premji) in a deal that values the general insurer at Rs 12,043 crore
The Supreme Court in its September 26 verdict on the constitutional validity of Aadhaar struck down Section 57, which enables corporate bodies and private entities to seek Aadhaar details.
Any fraud with respect to claims settlement will have detailed investigations being conducted
Government-owned banks are now increasingly focusing on selling more insurance and other third-party products to boost their profits on the back of higher non-interest income.
TPAs are outsourcing entities that hold a licence issued by the IRDA to provide management solutions to the health insurance industry
A gamification framework is centered around emotions, and additionally contains goals that need to be accomplished, stakeholders who have to be targeted, business processes to be impacted, rewards to be structured and resultant business outcome.
The most common reason for insurance claim being denied is incomplete disclosure about the insured person.