Crisis management; building corporate resilience
The COVID-19 pandemic has been a true global crisis. The tragic loss of life, and severe and lasting health effects for so many hundreds of thousands of people, have been…
INSURANCE LAW – MOTOR VEHICLES ACT – COMPENSATION PAYMENT – SUPREME COURT
COMMON ISSUES: Whether the High Courts erred in law in granting compensation to the Claimants under the heads of “Loss of Consortium” and “Loss of Love and Affection”? Whether it…
HOPE AND HYPE IS DRIVING ONLINE SALE OF INSURANCE PRODUCTS
General insurance companies are tweaking their processes to show the difference in pricing for buying its products online. During the year 2020, the global spread of the coronavirus disease (COVID-19)…
Best practices to Optimize your work-from-home experience
As a result of the viral COVID-19 outbreak, many of us have joined the millions of people around the world working from home, which has been declared a global pandemic…
New Product Development Needs in Motor Insurance
Introduction Change is the only thing that is almost always constant. Organisations have to keep revamping their business strategies from time to time to grow their business and capture a…
Exposure draft of IRDAI (Manner of Determination of Compensation to Shareholders on Merger of an Insurer under a Scheme Prepared under Section 37A) Regulations, 2020
Section 37A (4A) of the Insurance Act, 1938 reads as under: “(4A) Every policyholder or shareholder or member of each of the insurers, before amalgamation, shall have the same interest…
To Chairman/CEOs of Life Insurers
As a result of recent havoc created by heavy rainfall and floods there are reports of loss of human lives and loss of belongings in the affected Districts of primarily…
Allowing IC-38 exams for individual agents through remote proctor on pilot basis
The Authority has decided to allow IC-38 examinations for individual agents to be conducted from remote locations via the remote proctor model proposed by NSEIT. However, this model shall be…
Guidelines on Insurance Claims of victims of Floods (Oct 2020) in the calamity affected districts of Telangana, Andhra Pradesh and other Neighboring States
1. As you are aware, the recent floods (Oct 2020) have caused immense loss to property in parts of Telangana, Andhra Pradesh and neighboring States. General Insurers may have issued…
Pre-existing disease no reason to deny insurance claim: Panel
While directing New India Assurance Company Limited to pay a total claim of Rs.2,85,833 to a city resident, along with 8 percent interest per annum, the Consumer Disputes Redressal Commission,…