IRDAI mulls basic standard policy for cyber attacks
IRDAI has formed a working group, to examine the need for standard cyber liability insurance products. Observing that cyber attacks are on the rise with a number of high-profile…
Farmers in Maharashtra opt out of rabi crop cover
Farmers across 10 districts of Maharashtra may not be able to avail crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY) this rabi season, as none of the…
Non-life insurance premium falls to Rs. 15,855 crore in October
General insurers reported gross direct premium of Rs 15,855.11 crore in October, down 0.42% year-on-year. However, motor insurance, which was going through a challenging period in the last few…
ICICI Lombard gets in-principle approval from IRDAI approval to acquire Bharti AXA General Insurance
IRDAI has approved in-principle acquisition of General Insurance business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited, the company said in…
Muthoot Finance launches jewellery insurance in partnership with Bajaj Allianz general insurance
Muthoot Finance, has partenered Bajaj Allianz General Insurance, to provide insurance on gold jewellery. The new product known as 'Muthoot Gold Shield' is the gold jewellery insurance scheme launched by…
General Insurance Corporation of India announces appointment of directors
General Insurance Corporation of India announced the appointment of Anjan Dey, General Manager, New India Assurance Company and Deepak Prasad, General Manager, General Insurance Corporation of India, as 'Director'…
Underwriting losses of Insurance Industry rise to Rs 22,859 crore
The total underwriting losses of the insurance industry have surged by 4.4 per cent to Rs 22,859 crore in 2019-20, compared to the previous financial year, according to statistics…
PSU insurers asked to reduce avoidable expenses
Finance Ministry has asked 3 PSU General insurers, National Insurance, Oriental Insurance and United India Insurance, to rationalise branches and cut down avoidable expenses to improve their financial health.…
INSURANCE LAW – MOTOR VEHICLES ACT – COMPENSATION PAYMENT – SUPREME COURT
I. COMMON ISSUES: 1. Whether the High Courts erred in law in granting compensation to the Claimants under the heads of “Loss of Consortium” and “Loss of Love and Affection”?…
When is the right time to buy a Health Insurance Policy?
Post Covid-19, nothing ever seemed so unpredictable and beyond control but life. True? Thinking about the right time to buy a health insurance policy? The best time to buy a…