Group health plans drive the 29% growth in health premiums during the first eight months of FY23
Court asked regulator and insurance companies to submit a status report before March 17, 2023
As per the notification, corporate agents can now tie up with nine insurers each in the general, life, and health insurance sectors
Suggests allowing insurers to sell other financial products
By asking health insurers to access a national list of doctors, the regulator hopes to encourage them to offer more flexible policies outside of the hospital network
Proposes that commissions to agents can't exceed management expense limit
Features like recharge and guaranteed no-claim bonus enhance the cost-effectiveness of health insurance policies
Policies assist those already suffering from the disease and most cost only around 20% more
Demand for health and motor insurance to continue though growth may dip, say experts
But examine countries covered and claim settlement mode
15-member panel asked to identify challenges for health insurance business
Motor insurance, which saw muted growth in the last two years, has finally seen some momentum, although the base is low
Gross direct premium income up 17% to Rs 5,185 cr; combined ratio, which indicates underwriting discipline, stable at 105.1%
Reliance Capital holds 51 per cent stake in RNLIC and Nippon Life of Japan the rest
Here is how the health insurance rates offered by various companies stack up
Here is how the health insurance plans offered by various companies stack up
Hospitals asked to give 20% discount on MRP of medicines, say term is unviable for them
Here is how the health insurance plans offered by various companies stack up
Easing compliance burden for insurers, regulator Irdai on Tuesday rationalised health insurance business returns reporting norm by reducing the number of returns that need to be filed in a year. Insurance Regulatory and Development Authority of India (Irdai) said the move is part of promoting ease of doing business for insurance companies and it has been constantly striving to reduce the compliance burden for all the regulated entities. Towards this endeavour, the health insurance returns being filed by the insurance companies have been significantly reduced, it said in a circular. "Now, the general and health insurers will have to file 8 returns and life insurers will be filing 3 returns in place of 17 returns being filed currently. This step will further help insurers in focusing on their business rather than a plethora of compliances and in turn help in increasing the insurance penetration in country," it said. These revised reporting norms will be applicable with immediate ...
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