Page 56 - Insurance News

5 health insurance mistakes you should avoid

Contrary to popular perception, health insurance is rarely expensive and claims are usually paid by the insurers

Jan Suraksha insurance schemes to see no premium hikes in FY17

Insurers expecting some upward movement due to claims will now have to provide cover at the same cost

Health insurance to see standardised rates, niche products

Customers will be able to choose hospitals based on location preferences, specialities and empanelment with insurance companies

Star Health crosses Rs 2,000-crore GWP in 2015-16

The company had clocked Rs 1,470 crore worth of GWP in 2014-15, the city-based company said

Life insurance AUMs touch Rs 25 lakh cr in FY16

Of the Rs 24.25 lakh crore, 21 per cent or Rs 4.9 lakh crore went into equity investments, while the rest went into debt

Renewal premium remains flat despite hike in motor, CAT covers

The general insurance industry has renewed Rs 75,000 cr business on April 1 at the previous year's premium levels

'Mentor actuaries' may attract youngsters: Experts

Fresh actuaries from Institute of Actuaries of India can be absorbed in insurance firms if an experienced actuary officially mentors them

LIC expands globally; to begin Bangladesh operations soon

Insurance giant through its branches, JV firms, wholly-owned subsidiary, is present in 14 countries

Lloyd's to apply for Indian Reinsurance Branch

An onshore branch to provide local access to Lloyd's underwriting and reinsurance solutions for specialist risks, including agriculture, infrastructure and disaster management

HDFC completes 9% stake sale in HDFC Life to JV partner

In August last year, HDFC had said it will sell 9% stake in HDFC Life to Standard Life for a little over Rs 1,700 crore

Premiums rising, not policies

Future Generali India Insurance launches app

With the help of i-MoSS, company expects on-the-spot conclusion of 70% of its motor insurance claims

Flash floods in Chennai last November caused economic losses of $2.2 billion

India's total economic losses from all disasters, natural and man-made, exceeded $6.2 bn in 2015

Companies take cover in terrorism insurance

While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%

Lloyd's India syndicates to retain some minimum Indian reinsurance biz: Irdai

Syndicates granted approval not to be given preference in reinsurance contracts for 3 years, unless they have got approval for exemption from retention limit

Irdai allows TPAs to process foreigners' health claims

Decision pertains to foreign travel policies and health policies issued by Indian insurers covering medical treatment or hospitalisation outside India

TPAs to also service foreigners' health plans from life insurers: IRDAI

Their services will also extend to foreigners travelling to India on a travel policy issued by a foreign insurers

Health insurance TPA to begin operations from next fiscal

After it becomes operational, 8-10% of claims now being handled by external agencies will be processed by the new body

No refusal for motor insurance

Regulator has barred insurers from refusing to cover this risk

Insurers rush to finalise tie-ups with niche banks

Bancassurance deals are expected to be finalised in the next few weeks