Page 6 - Insurance

BimaPay targets Rs 5,000 cr corporate insurance premium financing by FY30

The company will cover all sectors including IT, logistics, healthcare, manufacturing and more, offering products such as group medical, fire and group personal accident insurance

Rajasthan to start registration process for animal insurance scheme

The scheme, announced in the state's 2025 budget, aims to provide financial assistance in case of accidental death of livestock animals

Mis-selling of a different kind: Are PMJJBY, PMSBY statistical illusions?

If awareness remains low, frauds persist and genuine claims continue to be rejected, these initiatives will be successes only on paper, with negligible on-ground impact

Over 80% insured persons unsure about efficacy of health cover: Survey

More than 80 per cent of insured persons polled feel unsure about the efficacy of their health insurance cover due to rising hospitalisation and medical costs in India, says a survey by Future Generali India Insurance. The survey, Health Unlimited, found that when faced with a claim, two out of every three individuals feel insecure and inadequately covered as they encounter unexpected bills. Nine out of ten health insurance policyholders feel that recharge of sum insured is a key benefit, the survey stated. This growing concern highlights the need for comprehensive healthcare solutions, Anup Rau, Managing Director and CEO, Future Generali India Insurance Company Ltd, said. Rising cost of medical treatment is a cause of concern for a vast majority of people in India, despite having a health cover, Rau said. The survey was conducted among 800 insured individuals aged 25-plus. It claimed that India had one of the highest medical inflation rates among other Asian countries in 2021 - .

Home insurance must: Loss of rent for landlord, liability cover for tenant

With modular policies gaining popularity, landlords and tenants must choose covers wisely, know key exclusions, and avoid underinsurance or failure to declare valuables

In nominee vs legal heir who gets the precedence? Court says inheritance

The Allahabad HC has clarified that a nominee on a life insurance policy is not the rightful owner of the payout but a trustee for the legal heirs, challenging common assumptions about insurance claim

Indo-Pak tensions trigger rise in war insurance cover enquiries from firms

Most commercial insurance policies exclude war cover but companies are seeking protection under aviation, marine and political violence categories amid rising tensions

AI hallucination puts firms at risk? New insurance covers legal costs

The insurance product developed by Armilla, a start-up backed by Y Combinator, seeks to address growing concerns about AI's potential to produce unreliable or misleading information

Are we on the cusp of an insurance revolution transforming India?

The stage is set - not just for incremental growth, but for a structural leap that can redefine how insurance is accessed, delivered and experienced across India

Cover for natural death begins after the initial waiting period ends

The initial waiting period is meant to safeguard against moral hazard

IPL insurance claims not triggered unless tournament is cancelled: Experts

With IPL suspended for a week amid India-Pakistan tensions, experts say insurance claims will not apply unless the tournament is officially cancelled or war cover is triggered

PB Health raises $218 mn in seed round led by US-based General Catalyst

PB Health, the healthcare venture of PB Fintech, has raised $218 million to set up a 1,000-bed hospital network in Delhi NCR and drive health-tech innovation

DIIs overtake FPIs as dominant investors in Indian markets in March quarter

Value of DII holdings reaches Rs 71.76 trn, 2 per cent higher than their foreign counterparts

IFFCO-Tokio enters surety bonds business to support infra projects

IFFCO-Tokio joins a handful of insurers offering surety bonds to support small contractors and infrastructure projects as segment eyes Rs 3 trillion growth by 2030

FSIB recommends Sanjay Joshi as Oriental Insurance Company Limited's CMD

Sanjay Joshi, currently GM at United India Insurance, recommended by FSIB to lead Oriental Insurance as CMD, following R R Singh's retirement in February

Demand for D&O liability insurance rises 25-35% in FY25, says report

Policybazaar reports surge in demand for D&O insurance in FY25 driven by board accountability, ESG lapses, IPO activity, and increased scrutiny of leadership risks

Life insurance covers death caused by terrorist attacks, with riders

Everyone with financial dependants should purchase life insurance. Individuals residing in sensitive or high-risk areas should make it a priority to buy this policy at the earliest

Indian insurance companies planning $41 bn trade switch to bond forwards

Insurers are in talks with authorities to convert about Rs 3.5 trn ($41 bn) worth of rates derivative contracts into bond forwards. Such contracts offer investors the opportunity to own the securities

NIIT to acquire remaining shares of IFBI, make it wholly-owned arm

NIIT Ltd board has approved the purchase of an additional 19.50 lakh equity shares of NIIT Institute of Finance Banking and Insurance Training Ltd (IFBI) to fully acquire the subsidiary, according to an exchange filing. NIIT holds 80.72 per cent stake in IFBI, and post the aforesaid acquisition, IFBI will become its wholly owned subsidiary, the filing stated. The shares will be acquired from ICICI Bank Limited (1.9 million shares, 18.79 per cent stake) and individual shareholders (50,000 shares, 0.49 per cent stake). The aggregate consideration for the acquisition of shares from ICICI Bank is expected to be between Rs 4.7 crore and Rs 6.5 crore. The acquisition is expected to be completed by September 30, 2025, according to the filing on Saturday. "As a strategic business decision, NIIT Limited has agreed to acquire 1,900,000 equity shares of IFBI from ICICI Bank Limited and 50,000 equity shares of IFBI from Individual shareholders," the filing read. IFBI, incorporated in 2006 an

ICICI Prudential Life: Moderate valuations, health growth prospects

In FY25, embedded value grew 13 per cent with embedded value operating profit (EVOP) growth at 10 per cent Y-o-Y