Pioneering insurance protection for an autonomous world
Is society ready for living in an autonomous world? Ready or not, it’s here. In fact, it’s been with us for a while. The better question for those of us…
Evolution and Current Status of The Risk Manager
“Risk Managers are in the business of managing the future….” said Tony Burlando (Risk Manager of Hillman Company in Pittsburgh while Chairing a RIMS Task Force). Risk managers advise organizations…
Supreme Court Mandates PUC Certificate for Insurance Renewal
1. Please refer to the Order dated 10th August, 2017 passed by the Hon'ble Supreme Court of India in Writ Petition (Civil) No.13029 of 1985 in M.C.Mehta Vs. Union of…
Insurance Company Fails to Settle Claims
Mr. Rajeev Kumar V/S United India Insurance Co. Ltd. Mr. Rajeev Kumar, the complainant has stated that two claims for treatment of his wife had not been settled by the…
Stroke Patient Denied Cashless Claim: Oriental Insurance
Syed Ahmed Ali Shah V/S Oriental Insurance Co. Ltd. The complainant had taken Mediclaim Policy for the period from 27.11.2015 to 26.11.2016 from The Oriental Insurance Co. Ltd. He was…
Agra Woman Battles Insurance Company for Mediclaim
Pragati Gupta V/S National Insurance Co. Ltd. The complainant stated that her husband was admitted in the Synergy Hospital Agra for the period from 16.03.2016 to 19.03.2016 for treatment of…
Government Merges State-Owned Insurers, Boosts Health Coverage
By announcing the merger of three state-owned non-life insurance companies, the government has taken a bold step that will curb unhealthy competition, improve governance, and bring discipline. Union Finance Minister…
IRDAI’s Reinsurance Draft Sparks Protectionism Debate
Recently, the Insurance Regulatory and Development Authority of India came out with the draft of the proposed regulations to streamline reinsurance operations in the country. The measures have been interpreted…
IRDAI Forms Working Group to Standardize Health Insurance Exclusions
Considering the importance of standardization in health insurance and to enhance transparency and uniformity the Authority had from time to time issued guidelines on standardization such as; standardization of terminology…
Changes in SCWF Reporting Requirements for Insurers
1. Vide Para 6(10) of the above referred circular, insurers were advised to disclose the amounts transferred to the Senior Citizens' Welfare Fund (SCWF) as contingent liability as a part…