Page 10 - Insurance

Insurance helped 46,000 women avoid deadly work during heat waves in India

With climate change raising temperatures during heat waves, millions of Indians face a difficult choice: work in dangerous conditions or go hungry

Insurers cannot deny claims for non-disclosure after issuing policy

The National Commission did not find any merit in the insurere's petition and dismissed it while upholding the state commission's order

SBI General Insurance withdraws Arogya Plus policy with effect from Oct 5

According to the press release by the company, "This decision is part of our ongoing commitment to continuously review and refine our product offerings to better serve our customers' evolving needs"

30-day free-look period for insurance policies: How to use this effectively

The free-look period has been increased from 15 days to 30 days for new policies issued after April 1, 2024

Noida-based Paytm General Insurance withdraws application with Irdai

The company will focus on its insurance distribution portfolio, moving away from making insurance products

Max Life plans to hire 30,000 agents, open up to 100 offices in FY25

Company 'targeting gain in market share', says MD and CEO Prashant Tripathy

Dixon Tech, Indus Towers among top bets of insurance companies in April 2024

Indian life insurance industry, excluding LIC of India, Nuvama said, commands an impressive aggregate equity assets under management (AUM) of nearly Rs 4.5 trillion, Nuvama said

'Pet insurance market in India to reach Rs 6,500 crore mark by 2025'

As the pet care market in India is growing at about 14 per cent and is expected to become over Rs 6500 crore by 2025, insurance companies are aggressively trying to take a share of this sector. Industry experts said insurance companies are trying to address this rapidly evolving market with bespoke plans to cater to the increasing rate of adoption of pets and the rising cost of medical treatment incurred to protect these furry companions. Future Generali India Insurance Chief Distribution Officer Ramit Goyal, said, "While pet insurance products have been in existence in India for some years now, it has witnessed a significant progression over the last few years post Covid with the rising pet ownership and affection for pets translating into a higher demand for pet insurance." India is considered to be one of the fastest-growing pet markets in the world clocking an annual growth rate of nearly 14 per cent and the country's pet care market is likely to touch USD 800 million by ...

PB Fintech Q4FY24 results: Net profit at Rs 60.19 cr, revenue up 25.4%

The company posted profits for the first time in the third quarter of FY24 at Rs 36 crore

Have some risk appetite? Invest in highly rated company fixed deposits

While they offer higher returns than bank FDs, they are not protected by deposit insurance

Public procurement order: DPIIT wants 'local content' calculation narrowed

The components include transportation, insurance, installation, profit, commissioning, training, and after-sales support

Insurers receptive to covering chronic ailments, declare PEDs honestly

By paying extra premium, you can reduce waiting period for pre-existing conditions to even one day

Professional Indemnity Insurance: All you need to know

Professional Indemnity Insurance safeguards professionals and businesses from financial liabilities arising from errors or omissions in their services

BNP Paribas to buy 9% stake in Belgian insurer Ageas for $780 million

The French lender's $16.3 billion sale last year of its U.S. retail activities has left it with funds for acquisitions

Target Rs 6K cr gross written premium for FY25: Future Generali MD & CEO

Rau discusses plans to focus on the underpenetrated non-motor, non-health space to support growth

Fishers Coop allege income loss amid inability to operate insurance scheme

In India much of the fisheries sector is dominated by cooperatives who number around 28,000

CarDekho Group eyeing 40% consolidated growth in FY25, says Amit Jain

Autotech and financial solution provider CarDekho Group is eyeing over 40 per cent consolidated headline growth in FY25 and is on the prowl for value-accretive acquisitions, chief executive and co-founder and Shark Tank India judge Amit Jain has said. Jain who leads CarDekho and is a familiar face on the business reality series Shark Tank India told PTI in an interview that the automobile marketplace (CarDekho) has been profitable for years now and hoped that profitability at a group level would come by in FY25, after which an IPO would follow. Jain described CarDekho as a "growth story with sustainability" and said the Group expects to notch 50 per cent growth (CAGR) in the current fiscal, with businesses like InsuranceDekho (insurtech platform) and Southeast Asia Business aiding growth. The South East Asian market (Indonesia, the Philippines, and Malaysia) is yielding strong numbers, he said, adding that the company is evaluating the Middle East market (UAE and others) as the next

Bima Sugam - your one-stop portal for all insurance policies: Details here

It's an online platform where customers can choose a suitable scheme from multiple options given by various companies

Pay Rs 20 for Rs 2 lakh cover: What PM Suraksha Bima Scheme is all about

PM Suraksha Bima Yojana, which provides insurance for death or disability due to accidents, has settled approximately 173,000 claims since its launch in May 2015

Irdai notifies series of regulations, tweaks rules on surrender charges

Insurance regulator IRDAI has notified a host of regulations, including on surrender charges wherein insurers have to disclose such charges upfront. IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement. It also ensures that the insurers adopt sound management practices for effective oversight and due diligence, it said. These regulations, which will be effective April 1, 2024, stipulate that the surrender value is expected to remain the same or even lower if policies are surrendered within three years of the purchase. For policies that have been surrendered from .