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Source: Live Mint The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts—regions where access to insurance becomes scarce or nonexistent due to extreme risk…
Source: Live Mint The Insurance Broking Association of India recently published a report on general insurance claims, which includes a simple comparison of various insurers’ claims performance across a range of metrics. The data is also broken down by line of business – health, motor, fire, etc. In its 8th edition, the report drew attention…
Source: Live Mint Right outside Fernandes’s home is a poster of a woman who passed away recently. It grabs his attention each time he opens his gate. His eyes are then drawn to one of his favourite possessions, his bicycle, long unused, which reminds him of happier days. Now, he can barely pick up his…
Source: Business Standard 3 min read Last Updated : Oct 01 2024 | 2:03 PM IST From 1 October 2024, a policyholder will get a higher refund if he exits his life insurance policy during the initial years.This is expected to provide greater flexibility and liquidity for life insurance customers who want to switch policies….
Source: Business Standard 2 min read Last Updated : Sep 25 2024 | 5:21 PM IST Star Health and Allied Insurance has seen a major data leak, as sensitive information of 31 million customers is publicly accessible through chatbots on Telegram. These documents include policy details, claims information, and even medical diagnoses….
Source: Business Standard 2 min read Last Updated : Sep 26 2024 | 12:24 AM IST The average health insurance claim size in India for FY24 has risen by 11.35 per cent, reaching Rs 70,558, up from Rs 62,548 in FY23, driven by a surge in healthcare expenses, said the ACKO India Health Report…
Source: Business Standard 3 min read Last Updated : Sep 13 2024 | 7:48 PM IST The Insurance Regulatory and Development Authority of India (Irdai) recently issued a master circular stating that policies should only be split at the customer’s request and with their consent. No additional fees, charges, or commissions should be imposed…
Source: Business Standard 3 min read Last Updated : Sep 09 2024 | 6:54 PM IST New business premiums of life insurance companies grew 21.8 per cent year-on-year (YoY) to Rs 32,644.09 crore in August, aided by robust growth in premiums of state-owned Life Insurance Corporation (LIC). LIC’s new business premium growth was…
