Page 6 - Insurance Plans

Bharti to acquire JV partner AXA's 49% stake in Bharti AXA Life Insurance

Bharti Group on Wednesday said it has entered into a binding agreement with its joint venture partner AXA to acquire its 49 per cent stake in Bharti AXA Life Insurance. Post transaction, Bharti Life Ventures Private Limited (BLVPL), the holding company of Bharti AXA Life Insurance Company, will own 100 per cent stake in the life insurer. Currently, France-based AXA owns 49 per cent stake in the joint venture with Bharti. The transaction is subject to receipt of requisite regulatory approvals, Bharti Group said in a statement. Pursuant to the two parties' decision to merge Bharti AXA General Insurance with ICICI Lombard in 2020, and the subsequent exit of AXA from the shareholding of ICICI Lombard, BLVPL has now entered into an agreement to acquire AXA's 49 per cent shareholding and fully own the company, it said. Bharti's intention is to ensure that the life insurance business continues to serve the Indian market and, in this regard, it is engaging with other strategic and financi

Insurance companies disregarding guidelines issued by regulator: AHPI

The Association of Healthcare Providers India (AHPI) has accused insurance companies of "unfairly" rejecting claims by patients and blatantly disregarding guidelines laid down by the Insurance Regulatory and Development Authority of India. The AHPI, which is a collective of hospitals and other healthcare providers, contended that private insurance companies have formed an "alarming cartel". These companies are collectively discontinuing cashless facilities provided to hospitals, depriving patients of their right to choose treatment and healthcare providers in an arbitrary manner, the AHPI charged in a statement. The real victims in this situation, the AHPI said, are the insured patients. As claims are denied, individuals find themselves in urgent need of funds to cover mounting medical expenses, especially those seeking emergency care while private hospitals find themselves grappling with escalating costs and mounting losses due to the conduct of these insurance companies, the ...

Why India must put a premium on affordable healthcare for its citizens

Millions depend on health insurance. Comprehensive coverage for diseases and medical procedures ensures that policyholders pay only for what they need

Buy home insurance policy that compensates on reinstatement basis

Revise your sum insured periodically so that it keeps pace with inflation

Chart: Top 10 insurance companies' policy terms and premium amount

Sum assured is Rs 1 crore and the policy is valid up to 70 years of age

NHAI seeks industry views amid slow surety bond insurance products growth

Insurers also lack the diverse recovery avenues that banks have, contributing to their hesitation in adopting these insurance products

2.2 mn new workers including 71 transgenders enrolled under ESIC in June

The Employees' State Insurance Corporation (ESIC) added 20.27 lakh new members under the Employees State Insurance Scheme in June, the Ministry of Labour and Employment has said

Exclusion clauses must be communicated

The National Commission held there was no evidence to show that Veena had been served the terms and conditions governing the policy

Flood losses pegged at Rs 15,000 cr, but only 8% covered by insurance

In Himachal Pradesh, roads, transformers, electric substations, and water supply schemes have suffered damage. An initial estimate suggests the loss could range between Rs 3,000 cr and 4,000 cr

71% ready to spend Rs 1-6 lakh on international holidays, Dubai tops list

44% of Indians will allocate an increased budget for travel post-pandemic, 31% will take more domestic trips in 2023-24, and 30% will increase the trip duration.

Monsoon-proof your vehicle with engine protection insurance cover

If you own an EV, buying a battery-protection add-on would be prudent

Titanic sub tragedy: Only 2 insurance covers in India for adventure junkies

Bajaj Allianz is the only major insurer in India which provides an insurance policy specifically for adventure sports.

Adventure tourism: Extreme travel is inspiring new types of insurance

Adventure tourism is expected to bring in more than $1 trillion of revenue globally by 2030, up from an expected $316.6 billion in 2022

India considers rule changes to bolster $731 billion insurance sector

Insurance penetration remains abysmally low at less than 5% in the country of 1.4 billion people, signaling growth potential for investors

How to book train insurance for less than a rupee, claim up to Rs 10 lakh

The Indian Railway Catering and Tourism Corporation (IRCTC) provides an optional travel insurance policy for passengers buying tickets from its online portal.

What are different types of car insurance policies in India? Details here

There are many different types of car insurance policies available, each with its own set of coverage options. It is important to choose a policy that meets the needs of the car owner

Need for business insurance leads to new brand 'Policybazaar for Business'

Business Insurance penetration in India at merely 15%

Indian insurers see steep rise in reinsurance rates in April renewals

Primary insurers transfer a portion of their risk portfolios to reinsurers by paying a certain premium to reduce the likelihood of paying a large obligation in the form of a claim

Businesses can claim cover under consumer rules

The National Commission overruled the maintainability objection on the interpretation of the law laid down by the Supreme Court that insurance is for indemnification, not for commercial purpose

Madhya Pradesh govt plans to pay insurance premium of small farmers

According to officials, the government is preparing an insurance road map for farmers whose farmlands are of 2 hectares or less