Page 4 - Insurance

UPI's new high value transaction limits kick in: Here's what changes

Starting September 16, UPI is no longer just for small daily payments. With raised limits for insurance, investments, and even jewellery purchases.

'Scams, spam': Nithin Kamath's post sparks debate on mistrust in insurance

Problem is in products, processes and people 'being abandoned' when they want insurance most, say people

China's EV boom burdens auto insurers with mounting, chronic losses

Over the past year, some Chinese insurers have hiked premiums or backed away from selling EV policies, leaving vehicle owners struggling to find affordable coverage

Mutual funds leave insurance companies in the shade on anchor allotments

Insurance participation in IPOs has risen but MF allocations have grown even faster

Rising bike accidents, costlier EV repairs push up insurance claims: Report

Insurance claims for two-wheelers are surging, with mid-segment bikes and EVs driving the trend as metro riders face higher risks and repair bills continue to climb.

Irdai Chairman Ajay Seth launches Bima Sugam India Federation website

Insurance Regulatory Development Authority of India (Irdai) chairman Ajay Seth on Wednesday launched the official website of Bima Sugam India Federation (BSIF). The launch marks the first visible step in building India's pioneering Digital Public Infrastructure (DPI) for insurance, aligned with the national vision of 'Insurance for All by 2047' and the Prime Minister's mission of Viksit Bharat 2047, a statement said. Seth said Bima Sugam represents a critical step towards creating India's Digital Public Infrastructure for insurance, and this initiative will empower policyholders, deepen insurance penetration, and ensure transparency and fairness across the value chain. "The launch of the website today is an important milestone, and I am confident that with collective industry commitment, the vision of 'Insurance for All by 2047' as part of the Prime Minister's mission of Viksit Bharat 2047 will become a reality," he said. The website was launched in the presence of industry CEOs,

GST cut on insurance may not bring relief, premiums could rise 12-18 %

Nil-rated vs exempt GST status will decide if savings reach you, or if premiums quietly climb instead

No GST from today: Health and life insurance premiums get cheaper early

Insurers and brokers roll out GST-free health and life policies ahead of Sept 22, letting buyers lock in cheaper cover now with premiums reflecting only the base cost.

Best of BS Opinion: India's new-age economy gets a data reset

Today's Opinion pieces explore a new data framework, the Bima Sugam initiative, the real impact of the GST rate cuts, and what the startup ecosystem really needs

Bima Sugam to roll out in phases for insurers, intermediaries, customers

Bima Sugam India Federation said the digital insurance marketplace will launch in phases this year with pilot insurer integrations and gradual customer onboarding

Insurance product for rural India to be launched this year: Industry body

Bima Vistaar, an insurance product covering life, health and property for rural people, is likely to be launched by December 2025, an industry organisation said on Wednesday. Life Insurance Council's Insurance Awareness Committee (IAC-Life) chairperson Kamlesh Rao said the products meant for rural India will be sold by all insurance companies at a uniform price with Rs 5 lakh cover per individual. The council has all 26 life insurance companies, including Life Insurance Corporation (LIC), as its members. Rao said that the product will be launched to increase the penetration of insurance in the rural belts of the country. "Penetration is lower in rural India. Bima Vistaar will be launched, targeting an increase in the insurance penetration in rural India," he said. Talking of the life insurance industry in the country, Rao said total assets under management (AUM) of all the insurers had touched Rs 67 lakh crore during the 2024-25 financial year, while the total premium collected ha

Think your gym injury is covered? Your health insurance may say no

Gym-related injuries are usually covered under health insurance, but exclusions around steroids, unsafe practices, and hazardous sports may lead to claim rejections

Top four life insurance companies covered 14 mn fewer lives in FY25

Data from insurers' annual reports show ICICI Prudential Life Insurance covered 91.74 million lives in FY25, down from 96.61 million in FY24

Guaranteed return, tax breaks key benefits of retirement-focused insurance

Remember that their internal rate of return could be low, and unlike annuities, they do not make payments for life

More organisers opt for event insurance before major festive season

The Dahi Handi festival saw 160,000 participants insured for ₹10 lakh each, with the Maharashtra government bearing the cost for 150,000 Govindas

What are the best life insurance plans available for young professionals?

A good life insurance policy is a must for young, working professionals in cities. Here are some of the best premium plans from Morningstar

Home insurance claims: Begin repairs only after surveyor's inspection

Non-disclosure of property extensions, late intimation, and incomplete paperwork may reduce or void claims

E-20 compliance and insurance claim: Here's what you need to know

People are raising concerns around E20 non-compatible vehicles, like poor mileage. Experts say that insurers too could reject or cut claims if engine damage is linked to the fuel.

Drop in high-value ticket life policies drags 13th-month persistency ratio

The decline in the share of high-value policies is largely on account of taxation changes in this segment, which HNIs were earlier using to get tax-free returns

Strong Q1 results, guidance lift New India Assurance shares by 18%

New India Assurance shares soar as insurer posts 80 per cent rise in profit, guided for lower combined ratio despite underwriting hit from Air India crash