The Cyclone Remal in various states have caused widespread loss of lives, property (homes and businesses) and infrastructure. The Sector Regulator IRDAI issued instructions to all Insurers including Life and…
Case Title: Bajaj Allianz General Insurance Co.Ltd. V. Mukul Aggarwal, CIVIL APPEAL NO.1544 OF 2023 Summary The Supreme Court reaffirmed that an insured person is limited to making claims covered…
Case title: Ashok Kumar v. New India Assurance Co. Ltd. Summary The Supreme Court ruled in a car theft case that any policy condition violation should be considered a fundamental…
Kotak Mahindra Life Insurance Company has introduced an innovative protection plan, Kotak Gen2Gen Protect, designed to cover two generations within a single policy. This new plan offers an industry-first feature,…
Narayana Health Insurance (NHIL), a new venture by Narayana Health, on Monday (July 1) announced the launch of its first health insurance product, 'ADITI.' In India, there is a need…
The central government has directed all state administrations to link the health records of beneficiaries enrolled under different health schemes with the Ayushman Bharat Health Account (ABHA) ID in a…
In a move to empower policyholders and bolster inclusive health insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has announced major revamp of regulatory norms. The regulator has…
The Insurance Regulatory and Development Authority of India (IRDAI) issued a master circular on health insurance on May 29, 2024, listing 20 provisions. These norms, if properly implemented, will make…
Background: The issuance of IRDAI (Insurance Product) Regulations, 2024 and the de-notification of erstwhile tariffs, general terms and conditions; policy and endorsement wordings provide a unique opportunity to develop simplified…
Natural disasters caused a staggering global economic loss of US$270 billion last year, with insured losses reaching US$111 billion. These numbers reflect a troubling trend, as insured losses have been…