Page 35 - Insurance

Star Health aims premium collection of Rs 10,000 cr in current fiscal

The company has close to 15 per cent of market share in the overall health insurance segment, including all general insurance players

After payments, WhatsApp to roll out insurance and pension products

The messaging service app, backed by tech giant Facebook, is working in collaboration with financial institutions on pilots of micro insurance, and micro pension products

Global litigation financiers plan India entry to target company disputes

The concept of litigation finance is widely prevalent in Australia, the United Kingdom and the United States

Choose a high-value health insurance policy for wide coverage amid Covid-19

Buy one at the earliest as underwriting norms tend to be strict in them

Majesco declares interim dividend of Rs 974 per share after sale of US arm

Majesco has also launched a Rs 631-crore share buyback programme

Allow insurance, pension funds to invest in lower-rated debt: SBI chief

Dinesh Kumar Khara says this is needed to ensure money flows into infrastructure, as is the case across the globe

Dealer can't hand over vehicle without its documents

The National Commission observed that possession of a vehicle cannot be given legally without also handing over the registration and insurance documents

Irdai to bring in standard personal accident cover, max sum assured Rs 1 cr

All general and standalone health insurers will have to offer it from April 1, 2021; hospitalisation costs up to 10% of base sum insured covered

IRDAI proposes standard personal accident insurance product from April 1

Insurance regulator IRDAI proposed a standard personal accident product with common coverage and policy wordings across the industry, a move aimed at increasing penetration of the product

Mandating insurance not the way forward to boost penetration: Irdai member

T L Alamelu says health insurers need to address trust deficit; regulator has tried to standardise areas of concern such as definitions, pre-existing diseases, among others

Contingency funds are more effective against sudden decline in income

Job loss covers have conditions attached

Covid insurance claims not steep, say insurers even as cases rise

As of November 18, as many as 576,000 Covid health claims have been reported to insurers, amounting to approximately Rs 8,600 crore, said sources aware of the development

As cyberattacks rise, cyber insurance a small price to pay for protection

Annual premiums do not exceed what you readily shell out for an OTT subscription

Delhi cabinet approves over Rs 40 crore to give insurance to lawyers

The Delhi cabinet has approved over Rs 40 crore to provide medical insurance of Rs 5 lakh and term insurance of Rs 10 lakh to lawyers, who are residents of the national capital, Law minister Kailash Gahlot said Friday. The lawyers will be insured under the Chief Minister Advocates Welfare Scheme, which was announced by the city government in December 2019. The AAP government had set aside a corpus of Rs 50 crore for the welfare of lawyers under the scheme. "Honble CM @ArvindKejriwal had last year announced CM Adv Welfare Scheme with an allocated budget of Rs 50 Cr. As a final step towards implementation of Scheme, Delhi Cabinet on 29.10.20 has approved expenditure of more than 40.60 Cr for purchase of Life Ins & MediClaim Policies," Gahlot said in a tweet. The chief minister had in November last year set up a 13 member committee, headed by the Supreme Court Bar Association president Rakesh Kumar Khanna, to recommend ways for utilisation of the fund for welfare of advocates. The ...

IRDAI panel to examine need for standard cyber liability insurance product

Irdai has set up a panel to explore possibility of a basic standard product structure to provide insurance cover for individuals and establishments to manage their cyber risks

Covid, income fears see shift to single-premium plans. How good are they?

Those buying these plans should bear in mind that gains at maturity may not be tax-free

Irdai allows renewal, migration and portability of Covid-specific products

Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract

Don't impose 15-day waiting period for Corona Kavach renewal: IRDAI

As per the guidelines issued by the IRDAI, the short-term Corona Kavach policies are issued by insurance companies for three-and-a-half months, six-and-a-half months or nine-and-a-half-months

M&M offers free coronavirus insurance plan for Bolero pick-up range

Auto major Mahindra & Mahindra on Friday announced a free coronavirus insurance plan for its Bolero pick-up range, offering a floater cover of up to Rs 1 lakh to the vehicle owner and his family members (up to two children) as part of its mega festive offer. The insurance plan can be availed between October 1 and November 30 on the Bolero pickup range which includes the pick-up Maxi Truck, City pickup and Camper, the company said in a release. The Free Corona Insurance is a floater health insurance cover for up to Rs 1 lakh that will cover the customer, his/her spouse and up to two of the customer's children and will remain valid for a period of 9.5 months from the date of purchase of the new vehicle, Mahindra and Mahindra (M&M) said. The pick-up customer is one whose job involves travel, providing essential services, where they can't avoid interacting with people around the clock. An industry-first initiative on our Bolero pick-up range, this corona insurance initiative ...

Clover Health to go public via $3.7 billion deal with Social Capital

The combined cash-and-stock deal includes a $100 million investment from venture capitalist Chamath Palihapitiya and $50 million from Hedosophia