May 2019 - Insurance Times

It is true that the world is spending more on healthcare expenditure and the health protection gap is showing sign of receding. But the above statement appears bewildering if we…

The advent of Third Party Administrator (TPA) begins in India with the development of Mediclaim, which was introduced in 1986 by the Public Sector Insurers. Since Mediclaim was an indemnity…

Introduction Reserve Bank of India (RBI) produces once in every two months monetary policy through Monetary Policy Committee (MPC). The primary objective of monetary policy is to maintain the price…

The Insurance Regulatory and Development Authority of India (IRDAI) is entrusted with the regulation, promotion   and orderly growth of insurance business in India. Maintaining an efficient, fair and stable insurance…

1. Clear and transparent communications play a vital role in servicing of insurance policies and in ensuring that the benefits of insurance policies flow to the beneficiaries in a timely…

The claim of an infrastructure company that sought compensation from its insurer alleging damage to roads because of excessive rainfall was rejected as meteorological data showed that there was little…

In another judgment involving the appointment of an arbitrator, the Supreme Court emphasized that a mere plea of fraud, coercion or undue influence by one party is not enough to…

Ganesh Anand Bhat, the proprietor of Shree Ganesh Agencies, owned two adjacent shops at Mulund. He had taken a shopkeeper's insurance policy from New India Assurance which covered only one…

LIC's Micro Bachat is a regular premium, non-linked, participating micro-insurance plan which offers a combination of protection and savings. This plan provides financial support for the family in case of…

Sukshma Hospi-Cash Group provides a cash benefit in case an insured gets hospitalized. It is specifically designed to take care of the incidental expenses in case of hospitalization. This product…