Managing the Risk and Business Insurance
“All that’s bright must fade – The brightest still the fleetest; All that’s sweet was made But to be lost when sweetest.” _ Thomas Moore The advancement of technology,…
Technology – Redefining Insurance
The insurance industry has garnered more importance and buyers in the past decade as assets to be insured have grown manifold. The business which has been providing employment for millenniums…
Operational Risk Management
Background Development The history of Operational risk is not very old, its genesis lies in the banking system, before 1999 when Basel Committee took charge of defining the operational risk,…
New Exemptions Introduced for Management Expenses
Whereas, M/s Edelweiss General Insurance Company Limited (M/s EGICL) was granted Registration by the Insurance Regulatory and Development Authority of India (the Authority) to conduct general insurance business in India…
IRDAI Constitutes Committee to Evaluate IMF Regulations
The new distribution channel of Insurance Marketing Firm (IMF) was introduced in 2015 by IRDAI, with the objective of increasing insurance penetration in the country through an area-wise registration approach.…
Solvency Margin in Crop Insurance
1. This circular is issued under the powers granted to the Authority under subsection 2(e) of Section 14 of the IRDA Act, 1999. 2. Reference is drawn to the provisions…
Motorbike Theft Claim Partially Allowed: Insurer to Pay Reduced Amount
Subhash vs. United India Insurance Mr. Subhash, the complainant has stated that his motorcycle was stolen on 03.11.2015 and though he had submitted all the required documents to the insurer,…
“Resolving the Claim Dispute: Umesh Guglani vs. Tata AIG General Insurance Co. Ltd.”
Mr. Umesh Guglani, the complainant has stated in his complaint that his car was stolen on 24.12.2016. He had submitted all the required documents to the insurer but his claim…
Court Upholds Insurance Claim Rejection for Delayed Theft Notification
Mr. Hitesh Khushalani vs IFFCO Tokio Insurance Claim for theft of two wheeler vehicle was rejected on the ground that the intimation of the theft was not given to the…
Complaint Against IFFCO Tokio General Insurance
The complaint was regarding deduction made from the car repairing claim after accidental damage. Claim made for Rs.19854/- was settled for RS.12381. The insurer could prove that the amount was…