Insurance Claims

Insurers have also been asked to engage adequate number of surveyors immediately as required and, if need be, consider engaging surveyors from neighboring areas as well

The Unions also said the proposed amendments does not define the term liability which may lead to misappropriation by the insurers

The government told Parliament on Tuesday that 2,302 claims of Rs 50 lakh each have been paid under the insurance scheme for health workers fighting COVID-19, and 465 of these pertain to the families of doctors. Fifty-three claims have been paid to the families of doctors in Bihar, 64 in Uttar Pradesh, 43 in Maharashtra, 38 in Karnataka and 37 each in Tamil Nadu and Andhra Pradesh, Minister of State for Health Bharati Pravin Pawar said in a written reply to a question in Rajya Sabha. Pawar said the Government of India maintains data of total cases and deaths due to COVID-19 as reported by states and Union territories. Disaggregated data on deaths due to COVID-19 by profession or otherwise is not maintained centrally. The Pradhan Mantri Garib Kalyan Package (PMGKP)-Insurance Scheme for Health Workers fighting COVID-19 was implemented with effect from March 30, 2020 to provide an insurance cover of Rs 50 lakh for providing comprehensive personal accident/life insurance cover to around

Three days of heavy rainfall from Sept. 5 saw homes and offices in Bengaluru's IT corridor flooded, sparking chaos and raising questions over poor urban planning.

Aristo Texcon, a private limited company, had its factory in Kolkata's Tangra Industrial Estate. A massive fire occurred on February 19, 2012. Here's what happened when they approached their insurer.

Complaints relating to health insurance made up a third of the total number cases disposed of in 2020-21, a period marked by the first wave of Covid-19

A client, and not the insurance agent, has to ultimately bear the consequences of not revealing critical information.

The National Commission castigated the insurer for suppressing the second report, which favoured the insured. It concluded this report made it evident the claim was genuine

Premium costs jump 10-15%, driven by large number of claim payouts during pandemic as well as factors such as rising healthcare costs

The National Commission held that the insurer was justified in refusing to settle the claim as the insured had attempted to fraudulently inflate the claim

The amount has to be refunded to the depositor within 90 days

BJP's Lok Sabha MP and the party's Yuva Morcha National President Tejasvi Surya said a total of Rs 401 crore has been disbursed

The National Commission concluded a surveyor's report must be given due importance unless there are valid reasons for disagreeing with it

An insurance claim can be rejected if the policy has lapsed on account of non-payment of premium, said the Supreme Court which stressed that the terms of an insurance policy have to be strictly interpreted. The apex court observation came while setting aside an order of the National Consumer Disputes Redressal Commission (NCDRC) that ordered additional compensation in a road accident case. A bench of Justices Sanjiv Khanna and Bela M Trivedi said it is a well-settled legal position that in a contract of insurance there is a requirement of Uberrima fides i.e. good faith on the part of the insured. "It is clear that the terms of insurance policy have to be strictly construed, and it is not permissible to rewrite the contract while interpreting the terms of the policy," the bench said. The top court was hearing an appeal filed by the Life Insurance Corporation (LIC) against the judgement of the NCDRC that had set aside the order passed by the State Commission. In the case, the woman'

Settle Rs 5,000 cr of claims in Q2 against Rs 7,700 cr in June quarter; non-Covid outgo rises

An insurance claim can be denied if a vehicle does not have valid registration, the Supreme Court said on Thursday while rejecting a claim in theft of a car which had temporary registration.

General insurers have seen Covid-related health claims mount, especially after the second wave of the pandemic

The source also added that retail term plan prices may go up further, even though the reinsurer has not specified it at this point in time

Digital life insurer Aegon Life on Tuesday said it has achieved a death claim settlement ratio of 99.25 per cent in FY21.

Section 45 of Insurance Act says claims can't be rejected in policies older than three years. Then why demand so many papers in such cases?