To minimise the risk of financial loss, your insurance cover should offer protection for not only your possessions, income but also, for the loved ones.
ICICI Lombard, with a 8.9 percent market share in the general insurance segment, trades as a proxy for the sector, commanding a higher valuation
Here are some important reads for the week that appeared in personal finance section.
General insurance companies can see higher premium growth due to long term third party motor insurance policies but profitability still uncertain
Insurance companies will begin designing new types of motor insurance covers, one that has a base cover of Rs 10 lakh and one which provides for unlimited liability.
Insurance Regulatory and Development Authority of India (IRDAI) decides the pricing for third party motor products which are mandatory for all vehicles running on Indian roads. In 2014, it introduced long term motor third party insurance policy for two wheelers with a three year term.
Data from the Insurance Regulatory and Development Authority of India (IRDAI) shows that insurers have implemented an increase ranging from 40 percent to 96 percent in the cost of the policy.
According to data on general insurance claims by the Insurance Brokers Association of India (IBAI), only around 3 percent health claims have been pending for more than one year.
Regulator Irdai has proposed up to 50 per cent increase in insurance premium for cars, motor cycles as well commercial vehicles from April 1.
In telematics-based insurance, a black box is installed in the vehicle to track its usage including speed, distance covered and the terrain. It is GPS-enabled, which means the vehicle can be tracked in case of theft.
Insurance Regulatory and Development Authority of India is likely to allow insurers to offer third-party (TP) motor insurance to four-wheelers and commerical vehicles for a slightly longer duration.
While this would mean good news for customers since the ministry is likely to not suggest big hikes in premiums payable, insurers may hike price of comprehensive motor covers to cover losses.
Motor premiums went up by 20-40 percent in FY17 based on the claims figures. Insurance Regulatory and Development Authority of India (IRDAI) regulates third party motor premium in India. All vehicles plying on Indian roads are required to buy motor third party insurance.
Under the strategic agreement, Bajaj Allianz General Insurance will offer its industry leading general insurance products to the customers of Canara Bank, Bajaj Allianz said.
This specially designed insurance policy covers the 2-wheeler owners against potential risks of theft, accidental damage, third party liability and others from one to three years' period through a single policy document and provides host of benefits including no inspection even in case of lapsed policy.
ReNewBuy, a platform with more than 7,000 car and bike insurance policies monthly, is in talks with Singapore-based Mount Nathan.
While the premium for the auto insurance goes up, the regulator is also asking the insurers to pay third party claims.
The advantages of having a bumper-to-bumper, or zero-depreciation, insurance cover.
Modern day motor insurance policies come with many add on covers as compared to traditional motor insurance policies. One should understand the benefits and accordingly purchase the right cover
Watch the interview of Hemant Rustagi, Wiseinvest Advisors with Sumaira Abidi on CNBC-TV18, in which he shared his reading and outlook on home and motor insurance and its importance.
Smart motor insurance policies offer comprehensive cover for the motor vehicle owner in addition to the statutory third party liability.
Watch the interview of Pankaj Mathpal, Optima Money Managers with Sumaira Abidi on CNBC-TV18, in which he advised about why you need motor insurance.
In case your car has been stolen, you have to lodge an FIR. Your claim won't be settled without it.
Car insurance esnures that the newest member of your family is well protected without you having to worry about massive bills