Page 40 - Insurance

Govt reduces rate of contribution towards ESI scheme, employers to benefit

Government decision may lead to annual savings to the tune of Rs 9,000 crore for the industry.

Should you buy personal accident insurance if you already have life cover?

A standalone personal accident insurance plan is more comprehensive and covers a higher number of accident-related risks as against an accidental death benefit rider available with a term plan

Premium for third-party motor insurance to be raised from June 16

Earlier, it had issued an exposure draft on May 20, proposing a hike in motor third party insurance premiums and had invited comments from various stakeholders

Insurers slow to respond to emerging risks: Insurance Report 2019

Over half (55 per cent) of the surveyed customers said they were ready to explore new insurance models, but barely a quarter (26 per cent) were investing in them

Health cover to premium issues: Expert answers to your insurance queries

In a standard private car policy, generally, no health coverage is provided

Insurance as a tax saving product

For an individual, insurance offers the chance to save as well as get the benefit of avoiding paying taxes.

Reader's corner: What do 'co-payment conditions' in insurance claims mean?

Readers' queries on general insurance answered

Insurance firms hike rates after GIC Re changes policy on fire risk pricing

Now, insurance companies will not be able to buy reinsurance cover for their underwriting unless they follow responsible practices

Soon, you may have the option to settle insurance claims in installments

The Insurance Regulatory and Development Authority of India had set up a working group to study a proposal in this regard

Buying a used vehicle? What you should know about transferring insurance

Usually the vehicle will be inspected by the insurer before the transfer of name in the policy takes place

Insurance, mutual fund returns aren't comparable, here's why

Given the complexity in the cost structure of insurance schemes, it is almost impossible to make an apple-to-apple comparison

Here's how to avail of multiple discounts on your car insurance premium

If you do a bit of research, you will be able to find a number of discounts that can pare the cost of your car insurance considerably

Claim can't be rejected on mere suspicion

The insurer should have checked where the machines were being located while enhancing cover, not after lodging of claim

Do not depend only on ratings; use your own judgment too: Irdai to insurers

Many insurance companies have exposures to the beleaguered IL&FS group as part of their investment portfolio

Non-life insurers' gross premiums underwritten grow 12.65% in Apr-Jan FY19

gross direct premiums underwritten by the non-life insurers in April - January period of FY 19 was to the tune of Rs 1.39 trillion

Plan to buy term insurance? Choose from multiple claim settlement options

Opt for lumpsum payment if you have liabilities. Staggered payout can provide regular income to the family

Name change can't lead to claim rejection

The consumer forum recently said a company can file for a claim under its new name even though the policy stood in its former name

When is an insurance claim turned down? Know the exclusions in your policy

Also provide proper documentation to minimise the chances of your TPA recommending that your claim should not be reimbursed

Make correct disclosures with your agent to avoid 'mis-selling' of policies

Even if the agent fills up the form, it is your responsibility to ensure that there is no suppression of key facts

IRDAI gives in-principle approval for IndiaFirst Life Insurance stake sale

IndiaFirst is a joint-venture between Bank of Baroda, Andhra Bank and UK-based Legal and General.