Published in Livemint In a bid to offer better coverage to policyholders amid the covid-19 pandemic, the Insurance Regulatory and Development Authority of India (Irdai) has sent out draft guidelines to all general and health insurance companies, mandating them to offer standard indemnity and fixed-benefit plans for covid-19. Life and general insurers have also been […]
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Standard covid-19 health insurance policy to cover PPE costs
Published in Livemint In a series of back and forth, the Insurance Regulatory and Development Authority of India (Irdai) has once again revised the proposed standard covid-19 health insurance policy. All general and health insurance companies will now have to offer two products: an indemnity as well as a benefit-based health product for covid-19 from […]
Auto insurance: Here’s how to avoid disputes this monsoon
Published in Livemint Every year during monsoon, insurance companies are flooded with claims of engine seizure due to water ingression. The insurers outright reject these claims. The reason: since it’s not an accident, it’s not covered under the car insurance policy. In technical terms, engine seizure occurring due to water is known as a hydrostatic […]
Having covid-19 symptoms could come in the way of buying life insurance
Published in Livemint The covid-19 pandemic has increased awareness and pushed a part of the uninsured population to finally buy insurance. But if you’ve had any symptoms of covid-19, buying life insurance, especially term plans, could become a challenge. According to life insurance companies, reinsurers are asking for covid-19-based disclosures at the time of policy […]
Relief for businesses that were at risk of being stripped of property insurance
Published in Livemint. MUMBAI : Industry body General Insurance Council (GIC) has provided much-needed relief to millions of businesses that were at risk of being stripped of property insurance because of the ongoing lockdown by relaxing the terms of a clause in the insurance contracts that the cover will be terminated if a property is […]
Why the sale of life insurance products dipped in March
Published in Livemint. Life Insurance companies clocked 11.36% growth in collective sum assured during financial year ending 31 March 2020, according to data published by the Insurance Regulatory and Development Authority of India (Irdai). However, new business premium tanked 32% in March 2020 to ₹25,409.30 crore compared with ₹37,459.36 crore in March 2019. Life Insurance […]
What is the importance of having a Directors and Officers Liability policy in the wake of the Covid-19 pandemic?
Covid-19 is causing havoc both to human life and economic activity. In these times, a directors’ and officers’ liability insurance policy protects directors against many possible new and emergent risks. Key Takeaways Heightened Unprecedented Exposure: Unforeseen global disruptions and economic crises force corporate leaders to make swift decisions without standard playbooks, dramatically increasing exposure to […]
Why Angel Investors should influence their funded start-ups to buy a D&O Liability Insurance Policy?
Angel investors want their start-ups to succeed, and what better way to ensure success than by influencing start-ups to invest in a D&O Liability Insurance policy for their directors? Start-ups are gaining popularity in India, with more and more millennials getting the desired funding for their business ideas. Angel investors, venture capitalists, investment companies, etc. […]
Health insurance for Coronavirus: Eight important queries answered
Published in Moneycontrol. Written by Abhishek Bondia The novel Coronavirus is on top of everyone’s mind now. The number of reported cases is increasing rapidly with around 10 per cent rise over previous day’s numbers becoming common. Several large countries have reported a prevalence of more than 1400 cases for every million population. It naturally […]
Insurers begin to get Covid-19 health insurance claims, but too early to assess impact
Published in Livemint. After the government allowed the private sector hospitals to treat covid-19 patients last week, insurers have begun getting health insurance claims. According to data compiled by the General Insurance Council, an industry body for non-life companies, as of 30th March, the insurance sector got a total of 34 claims, up from 22 […]