Corona Kavach a big draw for millennials
The fear of Covid 19 is pushing more and more people to buy the indemnity policy for covid-19, despite regular health insurance policies covering the cost of hospitalization for the…
Supreme Court directs Centre to address complaints of Non-payment of Covid Claims
The Supreme Court took judicial notice of general complaints about insurance companies playing truant in reimbursing the full cost of Covid treatment and told the Union government to proactively look…
Insurers see over 90,000 Corona claims worth Rs. 1,463 cr
Insurers have seen more than 90,600 Covid-related claims worth Rs 1,463 crore, of which almost 60,000 claims amounting to Rs 563.81 crore have been settled. State-wise data shows, Maharashtra, which…
LIC focuses on improving online, digital presence
Life Insurance Corporation (LIC) of India, which enters its 65th year on September 1, is focussing on improving its online and digital presence to remain customer-centric, improve pricing and create…
LIC HFC’s profit before tax up 21% to Rs. 1,017 cr in Q1
LIC Housing Finance’s PBT rose 21 per cent to Rs. 1,017.67 crore in the June quarter, against ~840.89 crore in the same period last year. Its net profit for the…
LIC’s total premium grew 12% in FY 20
LIC has clocked 12.42 per cent growth in 2019-20 (FY20) in total premium income at Rs 3.79 trillion, compared to Rs.3.37 trillion in 2018-19 (FY19). The insurer's new business premium…
Government sets the ball rolling for LIC IPO
The government has kicked off the process to launch the initial public offer (IPO) of LIC. The Department of Investment and Public Asset Management (Dipam), the nodal agency for conducting…
LIC settles 561 corona claims worth Rs. 27 cr
Life Insurance Corporation of India said that it has settled 561 Covid-19 death claims amounting to nearly Rs 27 crore. The insurer has also relaxed its norms amid the lockdown…
Physical signatures not required to buy a new life insurance policy
IRDAI , has allowed life insurers to obtain the customer's consent without requiring wet signature on the hard copy of the proposal form. They can send the completed proposal form…
Insurance companies cannot reject claims for not holding valid PUC certificate
IRDAI, has clarified that a motor insurance company cannot deny any claim for not holding a valid PUC or Pollution Under Control certificate. PUC certificate is provided to vehicles that…