Insurance News and Information

Reference is invited to clause 4 of the Circular ref: IRDA/TPA/REG/CIR/059/03/2016 dated 28.03.2016 issued under the provisions of IRDAI (TPA – Health Services) Regulations, 2016. Annexure 30 of the within…

An insurance company cannot appoint one surveyor after another till it gets a report favorable to it, the Supreme Court asserted in its judgment last week in the case, New…

While computing the compensation in a road accident death, the ex gratia given to the kin of the deceased from his employer should not be deducted from the total income.…

Life insurance companies won three cases in the Supreme Court last week as it upheld the rejection of claims on various grounds. In its judgment in one of these three…

How is the reinsurance market scenario in Nepal? In the current year, we are more concentrated on Domestic business and specially the Mandatory Cession rather than treaty. It makes us…

Ganesh Anand Bhat, the proprietor of Shree Ganesh Agencies, owned two adjacent shops at Mulund. He had taken a shopkeeper's insurance policy from New India Assurance which covered only one…

In another judgment involving the appointment of an arbitrator, the Supreme Court emphasized that a mere plea of fraud, coercion or undue influence by one party is not enough to…

The claim of an infrastructure company that sought compensation from its insurer alleging damage to roads because of excessive rainfall was rejected as meteorological data showed that there was little…

1. Clear and transparent communications play a vital role in servicing of insurance policies and in ensuring that the benefits of insurance policies flow to the beneficiaries in a timely…

The Insurance Regulatory and Development Authority of India (IRDAI) is entrusted with the regulation, promotion   and orderly growth of insurance business in India. Maintaining an efficient, fair and stable insurance…