The Non-Regular Medical Insurance Plans
Our susceptibility to lifestyle diseases is on the rise. According to various domestic and global organizations’ studies, with the increasing number of lifestyle diseases in our country, one out of…
LOLC Insurance continues its island wide expansion drive
The fastest growing insurance companies of Sri Lanka, LOLC General Insurance and LOLC Life Assurance, have recently expanded its operations to Wellawaya, Higurakgoda and Horana. This is in line with…
Insurer UK Club says Suez Canal ship’s reduced claim is still too big
UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600…
Choice group launches ISMOS offering life, health and general insurance plans
Choice group has recently launched a FinTech aggregator platform - ISMOS, offering life, health and general insurance plans, intensifying competition in the field. Suyash Patodia, Executive Director, Choice Insurance Broking, …
Premiums hiked for non-life insurance companies
As per the regulatory data, the gross direct premium written by non-life insurance companies rose by over 22% in April, 2021 to Rs. 17,309.54 crore. All the 33 insurance companies…
IRDAI working group suggests title insurance for home buyers
IRDAI has recently constituted a working group that submitted a report related to the product structure of title insurance to develop a standard product and recommend measures to spur demand…
IRDAI imposes Rs. 30 lakh penalty on SBI General Insurance
IRDAI has imposed a monetary penalty of Rs. 30 lakh on SBI General Insurance Company for its failure to comply with the third-party motor insurance regulations. The company had failed…
Complaints of insurers refusing to offer COVID-19 policies; IRDAI steps in
With complaints of insurance companies refusing to offer and renew COVID-19 insurance policies on the rise, the Irdai has recently directed the insurers not to deny COVID-19 policy coverage to…
GigIndia to provide Rs. 3 lakh insurance cover to active gig workers
GigIndia has recently announced that it will provide free COVID-19 health insurance to its active gig workers covering up to Rs. 3 lakh of medical expenses. Considering the adverse financial…
No insurance cover for person sitting on tractor’s wheels: Karnataka HC
The liability of a person sitting on the mudguard of a tractor is not required to be covered by a statutory insurance policy as contemplated by section 147(1) of Motor…