Insurers push for GST cut on health policies
With Covid pandemic still playing havoc in the country, the insurance sector is pushing for a reduction in the GST on health policies to bring more people under the insurance…
IRDAI wants insurers at par with banks on legal recourse for surety bonds
IRDAI has taken up the issue of insurers being treated at par with banks when it comes to recovery recourse available to them for the surety bond business and the…
Insurers to increase term policy rates for 2nd time in FY22
Top private life insurers are revising their term insurance rates by the fourth quarter. According to industry officials, reinsurers have taken a tough stance with the new Omicron variant adding…
Insurers need to adapt policies as majority of UK consumers intend to continue working from home post-pandemic, says GlobalData
The vast majority of UK consumers believe they will continue to work from home for at least two days a week post-COVID-19, which will have long-term effects on a range…
Insurers can’t reject cocktail Covid therapy
IRDAI has asked companies not to reject Covid claims for antibody cocktail therapy. By terming it as an 'experimental' treatment, the regulator has also asked insurers to review the claims…
Coonoor crash: Insurers settle claims in ‘shortest possible time’
PSU general insurers, including New India Assurance (NIA) and United India Insurance (UII), rushed to settle the personal accident (PA) claims of all military personnel, including the first Chief of…
Covid fuels 29% jump in health premium income for insurers
Covid pandemic has proved to be a boon for insurance companies. With people increasingly taking health cover to meet medical expenses, general insurance companies have reported a 29.81 per cent…
PSU insurers face uncertainty
The three PSU non-life insurers - National Insurance, Oriental Insurance and United India - are dealing with uncertainty on multiple fronts. The Delhi high court order setting aside directors' appointments…
Insurers seek a hike in PMJJBY premium
Life insurance companies have pitched for a re-pricing of the government's flagship Pradhan Mantri Jeevan Jyoti Beema Yojana. According to calculations, the premium would have to be fixed at a…
Complaints of insurers refusing to offer COVID-19 policies; IRDAI steps in
With complaints of insurance companies refusing to offer and renew COVID-19 insurance policies on the rise, the Irdai has recently directed the insurers not to deny COVID-19 policy coverage to…