Car owners can claim insurance for damage caused by potholes if their policy includes own damage cover, nationalheraldindia.com reports. The impact can harm tyres, wheels, suspension, bumpers or the underbody, even if…
State-owned reinsurer General Insurance Corporation of India (GIC Re) has pushed its long-held target of a 50-50 domestic-international premium split into the long term. Chairman Hitesh Rameshchandra Joshi told analysts that the…
Dropping a hospitalisation policy without expert advice can forfeit accumulated bonuses, completed waiting periods, and lifelong renewability rights, The Hindu reports. A person insured for 11 claim-free years did not renew and…
Insurance companies publish hundreds of pages of data every year. While useful for investors, these disclosures are hard for ordinary customers to navigate. Before buying health cover, ask: what does the policy…
Health insurance policyholders risk losing out on claims due to hidden exclusions, room-rent caps, and sub-limits, Livemint reports. Even a cashless policy does not mean every expense is covered, items such as…
The Department of Financial Services under the Finance Ministry has issued guidelines for policyholders facing unfair claim rejections, delays, mis-selling or other service issues. Policyholders must first approach the insurer’s grievance redressal…
The insurance regulator Irdai is considering an effort-based commission framework that would rank distributors by the selling and servicing effort they put in. Individual agents would top the hierarchy, while OEM channels…
A policyholder with Rs 25 lakh health cover faced a Rs 12 lakh hospital bill but received only Rs 5 lakh from the insurer. The insurer invoked the 'reasonable and customary charges'…
India is considering wide-ranging reforms to its health insurance sector, including benchmarked treatment rates and a nationwide claims exchange, to address medical inflation of roughly 12-14% a year. A panel headed by…
Insurers expect nearly Rs 5,000 crore in claims from last month's Gujarat floods, mostly for property damage, rediff.com reports. The figure dwarfs the Rs 1,500-2,000 crore in claims from the 2024 floods.…
