A devastating earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods were the main events driving insured natural catastrophe losses to USD 108 billion in 2023,…
ICICI Prudential Life Insurance has launched ICICI Pru Platinum, the company’s first unit-linked product (ULIP) which aligns distributor payouts to their customers’ fund value. The distributor commissions are linked to…
1. The extant Insurance Regulatory and Development Authority of India (Expenses of Management, including Commission of Insurers) Regulations, 2024 were notified on 23rd January, 2024. In order to supplement the…
1. This Master Circular is issued under the provisions of Section 34 of the Insurance Act, 1938 and Section 14 of the IRDA Act, 1999 read with Regulation 7 of…
The Madras High Court has recently held that when a claim is presented under the Motor Vehicles Act, the insurance company is liable to pay compensation even when the driver…
Remarking that courts should take a liberal view in awarding compensation to victims who are left 100% disabled and also suffer mental disabilities after road accidents, the Supreme Court extended…
In a significant decision, the Supreme Court has ordered use of Motor Accident Claims parameters, such as age of the victim and future earning capacity, to compute compensation to be…
State-owned insurance behemoth Life Insurance Corp. of India on Sunday evening filed draft papers for the most-anticipated public share sale in memory, the biggest ever to hit the Indian stock…
With the increase in the number of vehicles on the roads, the number of accidents and fatalities are on the rise. To reduce the incidents of traffic violations that often…
One in every three policies is sold to a woman in India, reveals a recent State Bank of India Ecowrap report. But according to PolicyBazaar, the trend witnessed on its…