Insurance discount proposed for college, school buses
The ministry of road transport and highways (MoRTH) proposed a 15% discount on motor insurance premiums for buses in the service of educational institutions, a move acknowledging the vital role…
Gross premiums of non-life insurance firms up 18% in Q1
The gross direct premium underwritten for general insurance companies reported an increase of 15 per cent year-on-year to Rs. 20,452 crore in June this year, compared to Rs. 17,809 crore…
TReDS platforms in talks with insurance cos post RBI nod
After the RBI permitted insurance companies to come onto TReDS (Trade Receivables Discounting System) platforms earlier this month, players have begun discussions with insurers. However, they anticipate a gradual take-off.…
Odisha tragedy: Only 30% opted for world’s cheapest travel insurance
With only a small number of passengers of two ill-fated trains involved in the June 2 Odisha tragedy seems to have opted for the Rs 10 lakhs insurance cover by…
General Insurers face tough choice on pushing growth and sustaining margins
The country's general insurance companies are currently grappling with a crucial dilemma between pursuing growth and maintaining profitability at a time when they are allowed to spend more on operating…
Govt proposes 3rd-party motor insurance premiums
The government proposed new base premium rates for third-party motor insurance for different categories of vehicles, including two-wheelers, passenger cars, and commercial vehicles, for 2023-24 fiscal year. According to a…
Rs. 8,000 crore announced for disaster management
Union Home Minister Amit Shah announced three major schemes worth over Rs 8,000 crore that would cover the modernisation of fire brigade services in all states, flood mitigation in seven…
Insurers designing specific cover for surrogate mothers
In a move that will offer more financial security to surrogate mothers, insurers are now designing specific products for them, thanks to an initiative by the IRDAI. “This is…
Coordinated effort pull off Rs. 2 crore death insurance fraud
A debt-burdened man from Ahmednagar, his friend and his aunt, a police constable, a chartered accountant, a doctor and a lawyer conspired to pull off a Rs 2-crore insurance fraud…
Don’t deny govt staffer medical claim for emergency treatment: HC
The Delhi high court (HC) ruled that medical claim of a government employee for reimbursement of treatment undertaken in emergency should not be denied merely because the hospital was not…