July 14 2015
The Insurance Regulatory and Development Authority of India (IRDAI), has issued a strict guideline instructing Third Party Administrators (TPAs) to keep out of claims. Several TPA services have been terminated by companies after discovering their fraudulent practices.
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July 07 2015
During the monsoon season, insurance claims ratio for passenger cars increases by 15-20%. Reason for this is the damage caused by water logging in certain areas.
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June 30 2015
The Insurance Regulatory and Development Authority of India (IRDAI) has mandated that insurers and TPAs (third party administrators) pass on all discounts (received from hospitals) to policyholders while settling health claims.
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June 30 2015
The devastating floods in Jammu & Kashmir in 2014 resulted in the loss of several lives and left several others homeless. The aftermath resulted in public sector general insurance companies receiving 13,909 claims, of which 13,612 claims, amounting to `729.75 crores, have been settled.
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June 17 2015
The Government has created a nuclear insurance pool worth `1,500 crores with the support of Nuclear Risk Insurers (NRI), UK.
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June 16 2015
The onset of monsoon in northeast India was marked by the first wave of floods in Assam. Relentless rainfall has caused the Brahmaputra and its tributaries to overflow and inundate up to 2,800 hectares of crops,
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June 04 2015
The Indian vehicle market is dominated by two-wheelers, as they constitute nearly 70% of it. Out of this share, 75% two-wheelers are running without a Motor Insurance Policy. Although Third Party Liability insurance is mandatory, two-wheeler owners seem to be overlooking this compulsion.
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May 29 2015
Smart Cities are developed urban areas with unlimited digital and technological potential to reduce cost and resource consumption and enhance the performance, well-being, and efficiency of its citizens.
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May 28 2015
The demand for senior citizens' health policies has registered a growth of 20-25% in 2014-15. The average health insurance cover bought by people above 60 years of age, has also increased gradually from `2-3 lakhs to `4-5 lakhs within a couple of years.
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May 26 2015
According to data provided by General Insurance Council (GIC), Delhi has emerged number one in insurance density and insurance penetration, while Maharashtra tops the list in generating non-life premium for the year 2013-14.
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