3 minutes reading time Last update: August 25, 2024 | 20:54 IS Big, boisterous festivals like Dahi Handi, Ganesh Puja and Durga Puja draw millions of people onto the streets, prompting insurers to increase coverage and costs for organizers and participants. Now that festivals are receiving government support, organisers are encouraged to opt for comprehensive … Read more
2 minutes reading time Last update: August 23, 2024 | 17:39 IS The Insurance Regulatory and Development Authority of India (Irdai) has formed a task force to address the challenges and boost the growth of surety bond insurance. The task force comprises representatives from insurance companies, banks and reinsurers. The insurance regulator and the General … Read more
Tata AIA Life Insurance has introduced a new term insurance product, ‘Sampoorna Raksha Promise’, designed with advanced features to meet the evolving needs of consumers. Samit Upadhyay, President and CFO, Tata AIA, highlighted the shift in consumer expectations beyond basic claim payments. He said, “Our new product term insurance plan, Sampoorna Raksha Promise addresses the … Read more
2 minutes reading time Last update: August 20, 2024 | 19:54 IS The share of life insurance policies sold by major private insurers in rural areas declined in financial year 2023-24 (FY24) compared to FY23. SBI Life, HDFC Life and ICICI Prudential Life Insurance (the top three private sector players) have seen the share of … Read more
In recent years, the auto insurance industry has seen significant innovations, one of the most notable being Pay as you drive (PAYD) Insurance. Unlike traditional car insurance, where premiums are largely fixed and based on factors such as age, gender and driving history, PAYD insurance offers a more personalized approach. If you drive less than … Read more
Achieving financial independence is critical to a secure and fulfilling life, and requires careful planning, smart decisions, and protection from unexpected events. Independence Day It represents freedom, having insurance symbolizes taking control of your financial future. Life can be unpredictable, like the weather, but while we can’t control the weather, we can carry an umbrella. … Read more
Between 2000 and 2019, India was the third nation with the highest number of natural disasters in the world. The future looks bleak as the frequency and intensity of these disasters are projected to increase, causing billions of US dollars in losses and damages. Traditional government funds may not be sufficient to cover these costs, … Read more
Photo credit: Ruby Sharma 2 minutes reading time Last update: August 12, 2024 | 19:38 IS New business premium of life insurers rose 14.19 per cent year-on-year (YoY) to Rs 31,823 crore in July, driven primarily by strong business growth of state-run Life Insurance Corporation of India (LIC). According to the latest data from the … Read more
Photo credit: Ruby Sharma 2 minutes reading time Last update: August 12, 2024 | 19:38 IS New business premium of life insurers rose 14.19 per cent year-on-year (YoY) to Rs 31,823 crore in July, driven primarily by strong business growth of state-run Life Insurance Corporation of India (LIC). According to the latest data from the … Read more
2 minutes reading time Last update: August 11, 2024 | 17:25 IS General insurers are seeking an extension of the deadline till December 2024 from the regulator to comply with the revised guidelines of the master circular on health insurance products, people aware of the development told Business Standard. The Insurance Regulatory and Development Authority … Read more
