Can’t reject claim on assumption
Prashant Warankar had taken a mediclaim policy from New India Assurance which covered him and four of his family members. Prior to taking the policy, Prashant's father, Pradeep, was subjected…
Court orders prevail over circulars
An insurance policy is a contract. Its terms are binding on the parties. Once the conditions are interpreted in a particular manner, can the insurer issue an administrative circular to…
Delhi HC on Genetic Disorder Exclusions
In the matter of M/s United India Insurance Company Limited Vs Jai Parkash Tayal (RFA 610/2016 & CM Nos. 45832/2017) Hon’ble High Court of Delhi at New Delhi held that…
Compliance of Order of Preference
This is to bring your kind attention to the Regulation 5 of IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) (First Amendment) Regulations, 2016 dated…
Editorial Insurance Times May 2018
The Finance Ministry has finally appointed Subhash Chandra Khuntia as the new chairman of IRDAI. Lot of speculation has been going around since the past few months whether the new…
Editorial Insurance Times June 2018
United India Insurance has posted a profit of Rs. 1003 crores for the year ended 31st March, 2018 which is a healthy trend. PSU insurers have been struggling with underwriting…
A solid cover for the poor
When I heard that the Finance Minister, Arun Jaitley, had announced Rs. 5 lakh cover to 10 crore families, translating to 50 crore people, I thought he had mistakenly added…
Standard Fire and Special Perils Insurance from HDFC ERGO General Insurance Company Limited
Key Highlights Policy Can be bought by Housing societies and Individual home/flat owners Covers risk against Fire, Flood, Earthquake, Lighting, Explosion, Inundation, Storm, Riot, Strike, Terrorism (optional) etc.. Get Policy…
Aviva Dhan Samruddhi from Aviva Insurance Co. Ltd.
Overview Aviva Dhan Samruddhi is a traditional life insurance plan that gives guaranteed cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long…
Mr. Pravin Kutumbe, Member (Finance & Investment)
Mr. Pravin Kutumbe assumed charge as Member (Finance & Investment) in Insurance Regulatory and Development Authority of India (IRDAI) on 12th March 2018. Prior to joining IRDAI, he was Executive…