Page 15 - Insurance

Don't impose 15-day waiting period for Corona Kavach renewal: IRDAI

As per the guidelines issued by the IRDAI, the short-term Corona Kavach policies are issued by insurance companies for three-and-a-half months, six-and-a-half months or nine-and-a-half-months

M&M offers free coronavirus insurance plan for Bolero pick-up range

Auto major Mahindra & Mahindra on Friday announced a free coronavirus insurance plan for its Bolero pick-up range, offering a floater cover of up to Rs 1 lakh to the vehicle owner and his family members (up to two children) as part of its mega festive offer. The insurance plan can be availed between October 1 and November 30 on the Bolero pickup range which includes the pick-up Maxi Truck, City pickup and Camper, the company said in a release. The Free Corona Insurance is a floater health insurance cover for up to Rs 1 lakh that will cover the customer, his/her spouse and up to two of the customer's children and will remain valid for a period of 9.5 months from the date of purchase of the new vehicle, Mahindra and Mahindra (M&M) said. The pick-up customer is one whose job involves travel, providing essential services, where they can't avoid interacting with people around the clock. An industry-first initiative on our Bolero pick-up range, this corona insurance initiative ...

Clover Health to go public via $3.7 billion deal with Social Capital

The combined cash-and-stock deal includes a $100 million investment from venture capitalist Chamath Palihapitiya and $50 million from Hedosophia

Irdai to start colour coding of individual health plans based on complexity

The regulator has sought comments from all stakeholders on the matter by October 15

IRDAI group tables broad framework for insurance cover to drone industry

The panel noted that the drone ecosystem is in nascent stages in India and finding more usage/applications in various sectors at a slower pace

As Covid-19 upends traditional functioning, insurance goes digital

With the Covid-19 pandemic having upended traditional ways of functioning, insurers are going the extra mile to adopt paperless processes, writes Subrata Panda

Irdai to develop standardised products for bridging protection gap

Life Insurers must aim to achieve a 13th month persistency of 90% within a year, says Irdai chairman

Irdai to take decision on extending tenure of Covid-19 products: Chairman

Regulator Irdai is mulling over a plan to allow the tenure extension of Covid-19 specific insurance products as the vaccine for the disease is seemingly away, its chairman Subhash C Khuntia said

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

Irdai urges use of video KYC with geo-tagging, live photo of customer

In January this year, RBI had allowed banks and NBFCs to complete full KYC remotely. A number of banks have rolled out this service since the RBI's nod

Unlock BFSI 2.0: Insurance reinvented itself in pandemic, says industry

Industry rapidly scaled up digital services to help customers, say speakers at Business Standard webinar 'Insured and Safe'.

Irdai invites applications for innovative ideas under regulatory sandbox

Irdai said it has created a regulatory sandbox with the objective of using new and innovative ideas with a view to accelerate the growth of the sector

Unlock BFSI 2.0: From push, insurance has become a 'nudge product'

While demand for insurance, especially protection products, has gone go up, affordability is an issue

Unlock BFSI 2.0: Insured and safe — Insurance in the time of pandemic

Sales of Corona Kavach health insurance policies on rise: Max Bupa

"The initial response for Corona Kavach plan has been encouraging and we are selling between 200-300 policies every day," Ramachandran said

Maharashtra extends insurance cover to private doctors who die of Covid-19

Maharashtra government has extended Rs 50 lakh insurance cover to private doctors who die of coronavirus infection during the pandemic, an official said on Friday

We're hoping growth in insurance will pick up by Q2-end: Irdai Chairman

In an email Q&A, Subhash Chandra Khuntia speaks about the positive response to Corona Kavach policy, standardisation of covid treatment rates and need for a retrenchment cover

Insurers can take action against hospitals denying cashless service: Irdai

An insurance company can take action against a hospital for demanding advance from a policy holder who is supposed to get cashless service

Not a good idea: Surrendering insurance policy early entails higher loss

To avoid losing protection cover, explore the option of taking a loan against it

Air India Express plane, which overshot runway, was insured for $50 mn

Air India's fleet is insured for around $10 billion and the airline has a liability cover of $750 million