Indian News

TATA AIG General launches ‘Medicare' for health contigencies

Health, Non-Life       Jan 16, 2019

  Mumbai: Tata AIG General Insurance Company has introduced its new healthcare variant ‘MediCare’,a flexible and all-inclusive product offering life-long renewal benefit to its customers and offers a sum insured option of up to Rs 20 lacs coverage with no sub-limit for any diseases, no co-pays...

Max Life Insurance to pay death claims up to Rs 50 Lakhs in just 1 day

Life       Jan 15, 2019

  New Delhi:  Max Life Insurance has launched InstaClaim™, an initiative that endeavours to pay death claims in just 1 day for policies up to Rs. 50 Lakhs where all minimum mandatory documents are received. Death claims shall be eligible for InstaClaim™ provided the policy duration...

Bajaj Allianz General Insurance launches a Health Policy against Vector Borne Diseases

Health, Non-Life       Jan 15, 2019

  Pune: Bajaj Allianz General Insurance, India’s leading private general insurer has launched a new health insurance product called M-Care. It covers 7 major vector borne diseases namely Dengue, Malaria, Chikungunya, Kala Azar, Japanese Encephalitis, Filariasis and Zika Virus. Designed to be a benefit policy, it...

169 complaints of sexual harassment at workplace in private industries: WCD Ministry

Risk Management       Jan 13, 2019

  New Delhi: A total of 169 complaints of sexual harassment at workplace have been received in private industries since 2017, the Women and Child Development Ministry has said. The complaints were received through 'SHe-box', an online system for filing complaints by women, working in both...

IMD working to give forecast on thunderstorms 6-12 hours in advance

Disaster & Management, Technology       Jan 13, 2019

  New Delhi:  Scientists at the India Meteorological Department and other agencies are working to create models to forecast occurrence of thunderstorms six to 12 hours in advance, learning lessons from last year's deadly storms in pre-monsoon season that killed over 200 people in the north...

New life premium mop-up inches up 2.41% in December

Life       Jan 11, 2019

  New DelhI: New business premium collection by the life insurance industry has grown 2.41 percent to Rs 1.41 trillion as of December, show the data released by the apex industry body.   The industry collected Rs 1,41,584 crore as against Rs 1,38,253 crore last year, the...

PJ Joseph, member (non-life), IRDAI

Joseph Panel suggests measures to accord chartered institute status on IIISLA

Intermediaries, Non-Life, Regulation       Jan 10, 2019

  Hyderabad: A committee headed by PJ Joseph, member(non-life), IRDAI, has deliberated on the prospects, challenges, risks and opportunities with regard to a  proposal from Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA) to accord itself the status of a chartered institute.   The panel, comprising...

Bengal pulls out of Ayushman Bharat

Eco/Invest/Demography, Health       Jan 10, 2019

  Kolkata:  West Bengal chief minister Mamata Banerjee today announced withdrawal  of  the state from its share of Ayushman Bharat alleging that Prime Minister Narendra Modi is taking all the credit for the health scheme while ignoring the state’s contribution. .  ``My state will not contribute...

Insurance Penetration and Density are on a slow recovery path in India

Eco/Invest/Demography, Life, Non-Life       Jan 09, 2019

  Mumbai:  The measure of insurance penetration and density reflects the level of development of insurance sector in a country. While insurance penetration is measured as the percentage of insurance premium to GDP, insurance density is calculated as the ratio of premium to population (per capita...