Companies do not bear financial responsibility if employees get hurt or die at work because of workmen’s compensation. As per the statutes of the Workmen’s Compensation Act, 1923, organizations are financially responsible for compensating injured workers. To take care of this financial responsibility, a workmen’s compensation policy is designed. Let’s explore the key features of […]
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The Silver generation needs some tax polish
Published in livemint on 05 july 2019. Two years ago, one Monday morning, when N.S. Swaminathan dialled into the usual conference call with various teams across the world, he was irritated to find no member had logged in. A globetrotting IT sector top executive, Swaminathan tapped his pencil in annoyance for some time, before reality broke […]
Your returns can be hit if insurers overspend
Published in livemint on 24 Jul 2019. The Insurance Regulatory and Development Authority of India (Irdai) recently issued an order against Reliance Nippon Life Insurance Co. Ltd for exceeding expenses of management (EoM) beyond the permissible limits. It was found that the insurer’s actual EoM for FY15-16 were ₹1,632.24 crore against the limit of ₹1,069.20 crore. […]
How your returns can get hit if insurers overspend
Published in Money Control on Jul 25, 2019. High expenditure depress the insurer’s profits and, in turn, shrink the pool available for distribution for policyholders Mint The Insurance Regulatory and Development Authority of India (Irdai) recently issued an order against Reliance Nippon Life Insurance Co. Ltd for exceeding expenses of management (EoM) beyond the permissible limits. […]
Two To Tango
Published in Business Today on July 25, 2019 You have to have health insurance if you don’t want to strain your finances due to a medical exigency. You also need life insurance to provide financial security to your loved ones in case something were to happen to you. This involves studying the features of multiple policies. Many […]
What are the advantages of having D&O policy over not having a policy?
Directors and officers of an organization get tasks for complex responsibilities of managing the organization and performing at its best level. However, during the job course, directors and officers might make mistakes that lead the business as well as its stakeholders toward a loss. For such losses faced by the business and other interested parties, […]
What are the major exclusions under Workmen Compensation Policy?
A Workmen’s Compensation Policy provides financial protection to the employer in case the employee suffers an injury, death, or disability during the course of employment. The employer is liable to compensate the employee when he/she suffers an injury during the course of the employment. A Workmen’s Compensation Policy takes care of this financial liability faced […]
Are there any real life examples where D&O has helped an organisation?
A Directors & Officers Liability Policy covers the directors and officers of a company against any financial liability. They may suffer in case they commit any error or mistake in their jobs. The d&o organization are accountable to the shareholders, employees, and customers of the company. If they commit any error in discharging their duties, and […]
General insurers’ claim ratios improve
Published in ETMarkets on 1st March 2019. General insurers improved their record at claims management in government sponsored and corporate group health segments in 2017-18, but the wide gap between incurred claims ratios — claims against premium earned — of individual and group segments persists. Thanks to better pricing and lower competition, general and standalone […]
Key reasons why you shouldn’t ignore a critical illness policy
Published in MoneyControl on 4th Feb 2019. Written by Abhishek Bondia. At 49, Subhash suffered a major heart attack. His arteries had over 90 percent blockage. He underwent bypass heart surgery and then recovered fully. This was a huge shock for the extended family. A teetotaler, vegetarian, and non-smoker, Subhash was free from major vices […]