Insurance News
Insurance regulators weigh reforms to tackle rising medical costs
Medical inflation of roughly 12% to 14% a year puts pressure on families and prompts authorities to hunt ways to standardise pricing and coverage
 "Insurance regulators weigh reforms to tackle rising medical costs")
LIC's improving growth trajectory, VNB margin expansion support outlook
LIC's value of new business rose 61.3 per cent in the June quarter as a shift towards higher-margin non-participating products supported a sharp margin expansion
 "LIC's improving growth trajectory, VNB margin expansion support outlook")
General insurance shares up after Supreme Court's Motor TP directions
Shares of general insurers advanced after the Supreme Court directed the insurance regulator to consider longer Motor Third Party insurance tenures and measures to improve insurance coverage.
 "General insurance shares up after Supreme Court's Motor TP directions")
No insurance, no fuel: Inside SC's plan to cover 165 mn uninsured vehicles
The court has proposed linking fuel purchases, number-plate cameras and police enforcement to insurance databases as 56 per cent of vehicles in India remain uninsured
 "No insurance, no fuel: Inside SC's plan to cover 165 mn uninsured vehicles")
Irdai's revised share-transfer regulations may raise compliance burden
Legal experts say the revised regulations could require more insurance share transfers to seek prior regulatory approval, despite higher thresholds under the SBSR Act
 "Irdai's revised share-transfer regulations may raise compliance burden")
General Insurance Council defends fever admission advisory framework
Insurance body says the advisory follows ICMR and health ministry guidelines, aims to curb unnecessary hospital admissions and does not restrict doctors' clinical autonomy
 "General Insurance Council defends fever admission advisory framework")
Irdai tightens intermediary rules, eases insurers' investment norms
The regulator has mandated greater sales traceability and disclosures for intermediaries while allowing insurers more flexibility in investment across select asset classes
Irdai chief urges insurers to eliminate dark patterns from websites, apps
Ajay Seth says deceptive digital practices erode consumer trust and urges insurers to improve transparency, informed consent and customer-first design across online platforms
 "Irdai chief urges insurers to eliminate dark patterns from websites, apps")
Could you have unclaimed insurance money? Here's how to find and recover it
Here's how to trace unclaimed payouts and recover money due to you or your family.
 "Could you have unclaimed insurance money? Here's how to find and recover it")
US insurer Nationwide launches Hyderabad centre to expand globally
US insurer Nationwide has opened its Global Services Center in Hyderabad, expanding its global footprint and strengthening technology, engineering and business capabilities
 "US insurer Nationwide launches Hyderabad centre to expand globally")
Multi-year health insurance: Lock in premiums, but check exit rules first
Multi-year health insurance plans offer premium stability and upfront discounts, but buyers should weigh flexibility, portability and future healthcare needs
 "Multi-year health insurance: Lock in premiums, but check exit rules first")
Cyber insurance race heats up as Liberty joins crowded ₹850-crore market
As cyberattacks surge, insurers rush to launch cover-but can insurance keep up with India's digital risks?
 "Cyber insurance race heats up as Liberty joins crowded ₹850-crore market")
Irdai proposes framework for regulation-making, public consultations
Draft norms seek to formalise stakeholder engagement, consultation processes and periodic review of insurance regulations
India sees 30% rise in transactional risk insurance claims: Marsh report
Private equity-backed transactions accounted for 92% of claim notifications, with tax-related issues emerging as the most common trigger
 "India sees 30% rise in transactional risk insurance claims: Marsh report")
TCS signs deal to modernise Canada Life's IT infra services across Europe
The agreement will see TCS modernise and manage Canada Life's IT infrastructure across its European businesses, leveraging AI and digital capabilities to improve resilience and automation
 "TCS signs deal to modernise Canada Life's IT infra services across Europe")
Datanomics: Insurance plaints double in six years driven by health
Health insurance is driving a surge in insurance complaints, with grievance filings rising sharply despite the segment accounting for a relatively small share of premiums
 "Datanomics: Insurance plaints double in six years driven by health")
Insurers wary as Irdai tightens executive compensation framework
Irdai's revised compensation norms linking executive pay to customer outcomes and compliance metrics have sparked concerns over growing regulatory intervention
 "Insurers wary as Irdai tightens executive compensation framework")
Intermediary-led model keeps insurance costs elevated: Praxis Global
Praxis Global Alliance says high intermediary commissions keep general insurance expense ratios elevated, with renewal business continuing to remain acquisition-cost heavy
 "Intermediary-led model keeps insurance costs elevated: Praxis Global")
Missed insurance deadline by six years, woman still wins Rs 5 lakh from SBI
Didn't Know About Debit Card Insurance? This SBI Case Could Impact You
 "Missed insurance deadline by six years, woman still wins Rs 5 lakh from SBI")
Irdai to frame Sabka Bima, Sabki Raksha Act norms within six months
Irdai said fresh regulations and amendments to existing insurance norms will be completed within six months of implementing the amended insurance law framework