No Arbitration If Insurer Rejects Claim
The dispute arose when there was a serious accident during the construction of a bridge over the Chambal River. The insurer repudiated the claim of the contracting company based on…
Supreme Court: Insurers Can’t Blame Victim in Road Accidents
The Supreme Court has underlined that an insurance company cannot raise the issue of negligence by a road accident victim when Section 163A of the Motor Vehicles Act is invoked.…
Steel Almirah Not Enough: Jeweler Loses Insurance Claim
Jewellers who keep their precious wares in steel almirahs will lose their insurance cover if the items are not kept in a safe with a complex locking system. If there…
Protect Yourself with Universal Sompo Health Insurance
Health Insurance policy of Universal Sompo is offered to individuals and/or his family. The policy is designed to pay the Insured person(s) the hospitalization expenses as well as domiciliary hospitalization…
Guaranteed Lifetime Income: Explore LIC’s Jeevan Shanti Plan
Plan This is a single premium plan wherein the Policyholder has an option to choose an Immediate or Deferred annuity. The annuity rates are guaranteed at the inception of the…
Ayushman Bharat: A Giant Leap, But Challenges Persist
Steeped in stiff challenges as it may be at the moment, but Ayushman Bharat is now a reality. Universal Health is no longer a distant dream. Ayushman Bharat would make…
Editorial Insurance Times October 2018
GIC Re, an Indian Reinsurer has been ranked 10th position among the Global Reinsurers. GIC Re has a potential of becoming a global player and it is already expanding its…
Editorial Insurance Times December 2018
Merging of the three PSU Insurers National, United and Oriental as decided by the Central Govt. is still under preparatory stage . However, the merger process is not clear as…
Extension for Filing Long-Term Motor Insurance Products
The Insurance Regulatory and Development Authority of India (`The Authority`), in terms ofCircular ref: IRDAI/NL/CIR/MOT/137/08/2018 dated 28th August, 2018, had assigned Unique Identification Number (UIN) to Motor Long Term Third…
Compulsory Personal Accident Cover for Owner-Drivers
This has reference to Circular Ref.IRDAI/NL/CIR/MOTP/158/09/2018 dated 20th September, 2018 on the subject. We have received complaints/communications from various stakeholders regarding certain aspects of implementation of Compulsory Personal Accident Insurance…