Nirmal Bazaz Appointed Honorary Secretary of IBAI
The Insurance Brokers Association of India (IBAI) has appointed Mr. Nirmal Bazaz as its new Honorary Secretary. He was elected director in 2023 and continues to serve in that role…
IMF Urges Indian Banks to Adopt Global Credit Risk Standards and Improve Supervision
India’s financial system has grown stronger, but IMF says banks need to align more closely with international norms like IFRS 9. In its latest Financial System Stability Assessment (FSSA), the…
Prudential and HCL Group Join Hands to Launch Standalone Health Insurance Business in India
The joint venture aims to expand access to health insurance and support India’s “Insurance for All by 2047” vision. Summary:UK-based Prudential Group has announced a joint venture with Vama Sundari…
Centrico to Offer Digital Insurance Repository Services to LIC
Centrico Insurance Repository, a subsidiary of Central Depository Services, has signed an agreement with the Life Insurance Corporation of India (LIC) to provide digital insurance repository services. The system allows…
NHB Cracks Down on Insurance Mis-Selling by Housing Finance Companies
The National Housing Bank (NHB) has warned housing finance companies (HFCs) against mis-selling insurance policies bundled with home loans. It has now made it mandatory to get separate, clear customer…
Madras High Court: Insurance Company Liable to Pay Only Beneficiary Nominee, Not to Decide Legal Heir Disputes
Case Title: A Devika v. The Senior Branch Manager and Another Summary of the Case:The Madras High Court ruled that an insurance company is only responsible for disbursing the policy…
J&K High Court Rules in Favor of Insurance Claim for Psychiatric Treatment Requiring Hospitalization
Case-Title: National Insurance Co. Ltd. Vs Jammu and Kashmir State Consumer Disputes Redressal Commission & ORS, 2025 Summary of the Case:The Jammu and Kashmir High Court ruled that if hospitalization…
Denial of Insurance Claim Justified in Case of Breach of Insurance Contract: Delhi State Commission Rules
Case Name: Majestic Graphic and Machinery India Pvt. Ltd. vs United India Insurance Co. Ltd. Case number: Complaint Case 484/2013 Summary of the Case:The Delhi State Consumer Disputes Redressal Commission upheld…
Supreme Court Rules on Life Insurance Claim Repudiation Due to Non-Disclosure of Existing Policies
Case Name: MAHAVEER SHARMA v. EXIDE LIFE INSURANCE COMPANY LIMITED & ANR., Arising out of SLP (Civil) No. 2136 OF 2021 Summary of the Case:The Supreme Court ruled that non-disclosure…
The Insurance Times March 2025 EBook Version
The Insurance Times - March 2025 issue - Ebook Version Please click on the image or link below to view the Ebook version of the Journal - https://online.flipbuilder.com/yojw/odhn/