EDITORIAL INSURANCE TIMES FEBRUARY 2017
The Finance Minister presented the budget for the fiscal year 2017-18 on the 1st February 2017. This is the first time in Indian history in the last 100 years that…
FRAUDS IN HEALTH INSURANCE
It is interesting to note some facts about frauds in Health Insurance industry in India and globally: A survey conducted by one of the leading Third Party Administrators, showed that…
LIC TOPS IN MDRT’S GLOBAL MEMBERSHIP
"You cannot have Million Dollar Dreams with Penny Thoughts" exclaimed Mr. Brian D Heckert, the 2016 President of Million Dollar Round Table (MDRT), USA, while addressing the delegates at the…
WINDS FAVOUR LIFE INSURANCE UNION BUDGET 2017-18
I have borrowed a few words for the title of this article from the closing remarks of our Honourable Union Finance Minister, " It is said when my goal is…
Motor Claim Complaint Dismissed Due to Complainant’s Non-Attendance at Hearings
Delhi Ombudsman Centre Case No.GI/297/Tata AIG/06 Shri Navin Kalra Vs Tata AIG General Insurance Company Limited Shri Navin Kalra had lodged a complaint with the Forum on 18.07.2006 against Tata…
Claim Delayed Due to Lack of Cooperation; Insurer Directed to Settle as Per Final Survey
Chennai Ombudsman Centre Case No. : IO (CHN) 11.05.1200/2007 - 08 Smt. Sri Padma Priya Vs The Oriental Insurance Co. Ltd The Complainant Smt Sri Padma Priya had obtained motor…
Insurance Claim Dismissed Due to Failure in Transferring Policy After Vehicle Purchase
Chennai Ombudsman Centre Case No. : IO (CHN) 11.08.1232/2007 - 08 Mr. Praveen Kumar Vs Tata AIG General Insurance Co. Ltd The complainant Mr. Praveen Kumar purchased a Ford Ikon…
Partial Insurance Claim Approved Despite Delay in Reporting Theft
Chandigarh Ombudsman Centre Case No. : GIC/348/NIC/14/08 Anil Shukla Vs National Insurance Co. Ltd. Shri Anil Shukla got his Hero Honda motorcycle bearing no. HR-29P-2366 insured for the period 17.2.06…
Insurance Claim Dismissed Due to Lack of Insurable Interest After Vehicle Sale
Chandigarh Ombudsman Centre Case No. : GIC/301/NIA/11/08 Dalbir Singh Vs New India Assurance Co. Ltd. Shri. Dalbir Singh got his Hero Honda motorcycle bearing no PB-16B-6731 insured from BO Mehatpur…
Key Features of Budget 2017-2018
Challenges In 2017-18 World economy faces considerable uncertainty, in the aftermath of major economic and political developments during the last year The US Federal Reserve's , intention to increase policy…