WHO reports that Tobacco kills 7 million a year
Nearly seven million people die every year by use of tobacco and smoking. The World Health Organization (WHO) warned of the dire environmental impact of tobacco production, distribution and waste.…
Exide Life recorded 27% growth in profit
Exide Life Insurance achieved 27 % growth in profit (PBT) to Rs. 112 crore for the financial year 2016-17. Announcing the company’s financial results, Kshitij Jain, Managing Director and CEO,…
CONSTRUING AMBIGUITIES IN FIRE POLICY EXCLUSIONS
Why this article: Property (Material Damage) insurance, more traditionally known as Fire Insurance, is a basic insurance cover used by huge number of customers. The promise of true protection under…
Karnataka Bank signs MoU with Bajaj Allianz for non-life biz
Karnataka Bank has signed a Memorandum of Understanding (MoU) with Bajaj Allianz General Insurance Company for General Insurance business. With the agreement, the bank would be able to provide vast…
Banks accountable for misselling: RBI
Banks for the first time have been made accountable for misselling third-party products like insurance policies or mutual fund schemes. Customers can also file complaints against banks for problems with mobile and…
Reduced insurance cost for Exporters
In its 60th year of operation, ECGC has reduced the premium rate by an average 17% for its whole turnover policy covers. The average rate of premium under short term exporters'…
Reduced misselling by Life Insurers results in complaint cuts by 40%
By reducing the instance of mis-selling, the life insurance industry has brought down the number of complaints by 40% to 1.22 lakh in 2016-17 from 2 lakh in 2015-16. The…
Insurance Company must represent the dishonoured cheque in Bank
Gayatridham Phase II, a cooperative housing society, had taken a Standard Fire and Special Perils Insurance Policy from New India Assurance. The policy covered the building and residential flats for…
National Health Policy-2017-A progressive march towards Universal Health Coverage
Recently Ministry of Health and Family Welfare, Government of India came out with the much awaited National Health Policy, 2017. The above policy comes in the wake of first National…
General Re clears final hurdle
General Re, a part of Warren Buffet’s Berkshire Hathaway family of companies, has received the final approval — known as R3 — from the Insurance Regulatory and Development Authority of…