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Latest Insurance News Today

First Indian Company certified with ISO 31000:2018

ICICI Lombard – First Indian Company certified with ISO 31000:2018

May 2018

The British Standard Institution (BSI) has awarded a Certificate of Compliance to ICICI Lombard – the first Indian company to be certified with the ISO 31000:2018

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Featured Articles

Union Budget 2021: Finance Minister proposed hiking FDI limit in insurance to 74%

February 02 2021

The Government of India has proposed a hike in the limit or cap on Foreign Direct Investment (FDI) in the insurance sector to 74% from the existing 49%. The decision was announced by the Finance Minister of India, Mrs Nirmala Sitharaman, during her budget speech in the parliament on 1st February 2021.

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Insurance Regulator Mandates Cancellation of RC In Case of Total Loss Claim Settlement

July 30 2019

IRDAI’s mandate to cancel the registration of completely destroyed vehicles is expected to put a check in the cases of fraudulent car registrations.

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This Is How IRDAI Is Planning to Offer You More Freedom Regarding Health Insurance

July 09 2019

The IRDAI’s proposal of providing the health insurance policyholders with an option to select the TPAs of their choice is expected to result in better service offerings for them.

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Parliament Approves Insurance Bill

March 18 2015

After a lot of deliberation, the revolutionary Insurance Bill has been passed by the Parliament. It will be considered as an act when the President signs it.

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Lok Sabha Clears the Insurance Laws (Amendment) Bill 2015

March 18 2015

The year 2015 has brought some cheer for general insurance policy holders. Be it mediclaim, home, motor or travel, industry sources say that the premium for any of these policies is unlikely to rise this year.

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Mandatory Insurance Set to Rise for Small Car Segment

March 12 2015

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed to increase the Third Party Liability (TPL) insurance premium for less than 1000cc cars by as much as 107.79%. The draft proposal also seeks a marginal revision of TPL premium for two wheelers in India.

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Finance Minister Increases Tax Benefits by Rs.10000

March 10 2015

Finance Minister, Arun Jaitley, has met people's expectations by increasing the tax benefit for insurance buyers by `10000. The decision taken in the Union Budget 2015 has increased the deduction limit under section 80D to `25000 from `15000 for individuals. For senior citizens, the limit has been increased from ` 20000 to `30000.

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Madras High Court Favors Lifetime Motor Insurance

February 23 2015

A recent accident case in Chennai has forced the insurance industry to look at Motor insurance from a different vantage point. The case in question involves a tanker lorry hitting a man, leaving him 45% disable.

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Budget May Hike Tax-free Medical Expense Cap

February 20 2015

The current tax-free medical reimbursement limit of `15,000 a year is under the government's scanner. Owing to the increasing medical costs in the country, the government is likely to raise the tax-free medical reimbursement from employers to `25,000 per year.

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New Provision in Insurance Ordinance to Cause an Imbalance

February 18 2015

Major General Insurance companies have not welcomed the new provision in the Insurance Ordinance regarding the third party motor insurance segment.

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New Insurance Companies Set to Enter Indian Market

February 06 2015

The Government's move to increase the Foreign Direct Investment (FDI) cap to 49% has struck a chord with leading global insurance providers. Chairman of Insurance Regulatory and Development Authority (IRDA), Mr. T. S. Vijayan, opined that the Indian insurance market is set to welcome new insurance companies.

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2015: A Turning Point for Indian Insurance Sector?

January 30 2015

New Delhi: The insurance sector is abuzz with hopes of the influx of investments post the landmark ordinance that cleared the cap of FDI up to 49%.

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New Norms of Insurance Soon to Benefit Policyholders

January 30 2015

The much-awaited amendment in the insurance sector to raise the limit of FDI (Foreign Direct Investment) from 26% to 49% has finally seen the light of day.

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