THE CONCEPT OF TOP-UP INSURANCE PRODUCTS IN INSURANCE
1. Preface: Excess of loss is effectively a ‘top-up’ limit of indemnity that sits in excess of the existing primary limit, and mirrors the cover provided by the primary wording.…
NHPS- National Health Protection Scheme
The Government of India has announced a massive Health Scheme for the downtrodden people of India called the Ayushman Bharat National Protection Scheme to be launched from August 15 this…
Managing Insurance Distribution Risk Using Supply Chain
Background One of the key challenges in the insurance business is selling new products (that meets customer’s need) and retention of existing customers which if not met properly may result…
GENETIC DISORDER AND HEALTH INSURANCE POLICY – ISSUES, CHALLENGES AND DILEMMA IN INDIAN CONTEXT
Disputes between contracting parties do come up in commercial world in terms of interpretations of words, clauses, duties, obligations, etc. particularly when one of the contracting parties gets affected financially…
Adjustment of claim under Both to Blame Collision Clause
Both to Blame Collision Clause is appearing in the Clause 3 of Institute Cargo Clauses which provides that “This insurance is extended to indemnify the Assured against such proportion of…
Insurance Claim Denied for Stolen Car Over Missing Ignition Key
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…
Mandatory Disclosure for Insurance Surveyors: Fit & Proper Norms
1. Attention is drawn to the Chapter II Licensing Procedure Reg. 3 and Reg. 4 of IRDAI (Insurance surveyors and Loss Assessors Regulations), 2015 which includes "fit & proper criteria…
Motorcycle Theft Claim Rejected Due to Delay
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, his claim was repudiated by…
Karnataka Flood Victims: Insurance Claim Guidelines
1. As you are aware, the recent floods have caused immense loss to life and property in certain districts of Karnataka State, including Kodagu. There is an urgent need for…
Surveyor Regulations to be Revisited: Working Group Formed
This has reference to the seminar conducted by the Authority for Corporate Surveyors on 27.03.2018 and the meeting with Hon'ble Chairman on 28.05.2018. During the aforesaid discussions, various issues pertaining…