Runway end safety areas at nine airports will be lengthened to 240...
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Indian economy to grow 7% in FY25, robust expansion to drive insurance premium growth, says Moody’s
``India's private sector insurers continue to reinforce their...
Govt issues draft rules to make e-com accountable, seeks comments by Feb 15
For imported goods, platforms must display importer, packer, and...
IRDAI standardises terms and clauses of health Insurance policy
In case of multiple policies taken by an insured person during a period from one or more insurers to indemnify treatment costs, the insured person will have the right to require a settlement of his/herclaim in terms of any of his/her policies. In all such cases the insurer chosen by the insured person are obliged to settle the claim as long as the claim is within the limits of and according to the terms of the chosen policy.
IRDA asks general and health insurers to launch exclusive Covid-19 cover by June 15
Room Rent, Boarding, Nursing Expenses all inclusive as provided by the Hospital / Nursing Home up to 2% of the sum insured subject to maximum of Rs.5000/- per day.
•.Intensive Care Unit (ICU) charges/ Intensive Cardiac Care Unit (ICCU) charges all inclusive as provided by the Hospital / Nursing Home up to 5% of the sum insured subject to maximum of Rs.10,000/-, per day
• Ambulance: Rs 2000/- per Hospitalization.
IRDA asks insurers to settle Amphan claims expeditiously
There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims, said IRDAI
IRDA to extend renewal payment date for motor & health policies till June 1st week
IRDAI forthcoming decision will also include continuation of cover, Standard Fire and Special Perils Policy(commonly known as property policy)- by the general insurers to the “unoccupied properties’’.for more than one month
Coverage of Pandemic Risk through P/C Insurance could be designed like existing Federal Programs:US actuaries’ body
“Pandemic risk is more similar to the catastrophic risks covered by programs like the Terrorism Risk Insurance Program and the National Flood Insurance Program than to risks normally insured by the commercial insurance market, and any new federal program seeking to facilitate pandemic risk coverage should reflect that difference,” said Academy Vice President, Casualty, Lisa Slotznick, the signer of the letter on behalf of the Academy’s Casualty Practice Council to the House committee.
Covid-19 Pandemic:IRDA further extends grace period for paying life premium till May 30
All policy holders are requested to note that the objective of grace period allowed is to pay all the premiums due within that period so as to keep the policy coverage in force, said IRDAI..
Top insurers face lawsuit from UK hospitality sector on rejected biz interruption claims
Any successful claim will hinge partly on whether the lockdown triggers a clause in business interruption policies designed for insured premises that cannot be used because of restrictions imposed by a public authority, experts say.
The Financial Conduct Authority (FCA) said earlier this month that most insurance policies bought by smaller British companies do not cover the coronavirus-related disruption, but that those that do should pay out quickly.
In an all-cash deal,Axis Bank to acquire 29% of Max Life Insurance
Deal marks coming together of 3rd largest private bank and 4th largest private life insurer
Strategic transaction to strengthen the franchise and bring long term orientation to the
relationship
Axis Bank to own 30% stake in Max Life post transaction closure
Max Life to include Axis Bank logo in its brand tag line to demonstrate the close knit partnership
RBI announces Rs 50,000 cr special liquidity facility for mutual funds
In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
Australia will make it a crime to use coronavirus tracing data for non-health purposes
The federal government has said existing “social distancing” measures will remain until at least mid-May, and that its willingness to relax them will depend on whether people download the smartphone “app” to identify who a person with the illness has had contact with.
The tracing app, which is yet to be released, has raised concerns from legal and privacy advocates who have said the location data it collects may be used by unrelated bodies like law enforcement agencies.