Page 2 - Insurance Claims

Non-life insurance: Q1 Covid-related claims higher than in entire FY21

Reimbursement claims, possibility of a third Covid wave keep non-life insurers on tenterhooks

Insurers' provision pool balloons as fatalities spike in second Covid wave

Claims in 2nd wave were 3-4 times the volume seen in first wave, says an insurer

Claim can't be denied on frivolous grounds

As for the purchase of raw materials from its sister concern, the National Commission observed this was properly recorded and there were corresponding sales and exports

Insurers see adverse impact of Covid-19 claims on their loss ratio

Indian insurers had not factored in the impact of Covid claims while underwriting their products

Amid Covid scare, life insurers go slow on renewing group-term plans

The adverse claims experience of life insurers have made them apprehensive of renewing group-term policies of some corporate entities

Insurers cannot reject claims based on presumptions and conjectures: Irdai

Insurers need to put in place systems by which policyholders can track the status of claims, says regulator

Covid insurance claims not steep, say insurers even as cases rise

As of November 18, as many as 576,000 Covid health claims have been reported to insurers, amounting to approximately Rs 8,600 crore, said sources aware of the development

Pay for loss incurred to minimise damage

The National Commission rejected New India's plea, saying the consent had become invalid as the insurer itself had not abided by the claim amount recommended by the surveyor

If declaration is late, claim can be rejected

The insurer pointed out that the policy conditions in respect of timely declaration of shipments had been violated, and rejected all the claims

Covid claims filed with insurers reach 475,000, of which 325,000 settled

Insurers to take a major hit with huge spike in August and September; tapering seen in October may bring some relief

India Coronavirus Dispatch: Prison staff fear spurt with returning inmates

Insurance claims of 77 BMC staff rejected, New cases in Mohali dip, and does the annual flu shot make a good vaccine?--news on how the country is coping with the pandemic

Insurance claims related to coronavirus treatment rise in September

Overall, coronavirus cases have been on the rise, especially in few states. The recovery rate is also high

Reported Covid-19 insurance claims at 192,863 worth over Rs 3,000 cr

As many as 121,739 claims settled by insurers so far, amounting to Rs 1,165.81 crore, revealed claims data of General Insurance Council

Driver's negligence can lead to owner's claim rejection

Failure to safeguard the vehicle constitutes a breach of the terms and conditions of the policy and absolves the insurer of liability to compensate

Non-life insurers receive more than 100K Covid-19 claims worth Rs 1,644 cr

While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19

Insurers see over 90,000 Covid-related claims worth Rs 1,463 crore

State-wise data shows, Maharashtra, which has recorded the maximum number of cases in the country, has the maximum claims coming in, followed by Tamil Nadu, Delhi, Gujarat, and Karnataka

Insurers discuss growing need for policy to claim Covid-19 losses

The discussions are at an initial stage and no timeline has been fixed on when such a product will come out

Digitised selling, servicing of insurance get a fillip amid pandemic

Insurers have made a leap from manual paper-bound process to end-to-end paper-less or digital-based selling through all the channels of distribution

General insurers brace for a rise in non-Coronavirus claims after lockdown

This, in turn, will impact the loss ratio of insurers in the health segment

Master the claim procedure to cope better during emergency in family

With the onset of this pandemic, policyholders should now take the next crucial step of understanding how to go about filing a health insurance claim