April 2019 - Insurance Times

A well developed and evolved insurance sector is a boon for economic development of a country. It provides long-term funds for infrastructure development and concurrently strengthens the risk-taking ability of…

Thinking of buying your first automobile? Well, then car insurance may simply be the final thing on your mind. But it is important. The Indian Motors Act makes it mandatory…

It sometimes feels as if the sharing economy, which is how companies that facilitate peer-to-peer transactions via an online platform/smartphone app are referred to, emerged virtually overnight. The sharing economy…

INTRODUCTION:- On 3rd March 2019, Sunday, the Ethiopian Airline’s Addis to Nairobi Flight’s Boeing 737 MAX 8 crashed after a few minutes of takeoff killing 157 people aboard. The Black…

Penalty on LIC for negligence LIC has been found guilty of deficiency in service by keeping the money of a consumer for five years without issuing a policy. In this…

Oswal Plastic Industries had taken a fire and special perils policy from New India Assurance to cover its industrial establishment. The policy was issued on June 27, 2009. The sum…

Abrol Engineering had taken a policy of Rs 40 lakh from New India Assurance to cover a CNC machine made by DMG Deckel Maho Gildemister. During the tenure of the…

Shreem Capacitors was in the business of manufacturing capacitors and supplying these to various state electricity boards, government undertakings, and railways. The company obtained a 220 KVA sub-station from Maharashtra…

Mrs.  Alamelu T. Lakshmanachari, the Chairman-cum-Managing Director of Agriculture Insurance has been appointed as whole Time Member (Non-Life) by The Appointment Committee of Cabinet (ACC) for a period of 03…

Attention is drawn to Authority’s Circular No. IRDAI/CAD/CIR/MISC/063/03/2016 dated 01-04-2016 vide which all Insurers were directed to submit data pertaining to compliance of awards passed against them by Insurance Ombudsman.…