Double export cover: Goyal to ECGC
Commerce and industry minister Piyush Goyal has asked the Export Credit Guarantee Corporation (ECGC) of India to double the limit to Rs 40 crore under a recently launched scheme that…
Alarm bells as crop insurance claimed on fake farms, orchards in Maharashtra
A Right to Information (RTI) plea in November 2022 has blown the lid off a crop insurance fraud in districts across Maharashtra, where compensation was allegedly claimed for losses on…
New India Assurance forays into surety bonds business
New India Assurance said it entered the surety insurance bonds business, becoming the second such domestic insurance company. IRDAI had permitted general insurers to issue surety insurance bonds in April…
Refuse fuel to uninsured vehicles, suggest insurers
The insurance industry has proposed that uninsured vehicles should not be allowed to refuel at oil pumps, looking to raise penetration of automobile insurance, industry executives familiar with the development…
IRDAI to roll out State insurance plans soon
IRDAI will soon rollout insurance plans for all States along with identifying a lead insurer for each district. “This will be a major initiative to improve the penetration of insurance…
IRDAI asks insurer to talk to state govts to provide mandatory cover for uninsured vehicles
With almost 57 per cent of the vehicles plying on Indian roads uninsured, IRDAI has asked the general insurers to talk to transport authorities of 28 states and eight union…
IRDAI orders insurers to cover PwDs, AIDS
IRDAI has ordered insurance companies to “mandatorily” launch an appropriate product offering health insurance cover for certain vulnerable sections of society — persons with disabilities (PWD), persons afflicted with HIV/AIDS…
DFS firms up Insurance Act amendment proposals
The much anticipated fresh round of insurance reforms may be round the corner with the Department of Financial Services (DFS) in the Finance Ministry now having firmed up the amendment…
Insurers seek clarity on pricing, design of cover for mental illness
Insurance companies are grappling with the design, pricing and operational modalities of offering health cover for mental illness, disabilities and HIV after the IRDAI’s February 27 circular. As it is…
IRDAI mandates general insurers to cover mental illness, HIV
IRDAI has made it mandatory for general insurers or stand-alone health insurers to launch health insurance policies that can provide coverage to people with mental illness and those afflicted with…