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Photo: Mint
Photo: iStockphoto
Corona Rakshak is a fixed benefit plan in which if a policyholder is diagnosed with COVID-19 and hospitalised for three days (istockphoto)
Corona Rakshak is a fixed benefit plan in which if a policyholder is diagnosed with COVID-19 and hospitalised for three days (istockphoto)

COVID-19 health insurance tenure may be extended, hints IRDAI chairman

  • 'We will take decision about extending the tenure of the policy at an appropriate time,' Subhash C Khuntia, chairman, Irdai said
  • Inaugurated in July, Corona Kavach is an indemnity plan that will cover all the hospitalisation expenses of coronavirus patients

Photo: iStock
Photo: iStock

IRDAI to introduce new solvency norms

  • At present, it is mandatory to maintain a solvency margin of 150% for every insurer, irrespective of the amount of risks that the promoting entities of the insurer carry or the extent of liabilities that arise from the pricing of the insurance policies

Photo: iStockphoto
Photo: iStockphoto

Choose a health insurance that works for you

The moment of truth of a policy is on the benefits it gives and the claim going through

Varun Dua, CEO, Acko General Insurance.
Varun Dua, CEO, Acko General Insurance.

Insurance firm ACKO raises $60 million

  • ACKO plans to use the funds to accelerate its growth in existing lines and to expand into new product lines
  • It offers bite-sized insurance products in partnership with over 20 players in the internet ecosystem

Shutterstock
Rendering of emoji faces (istockphoto)
Indian spices and herbs on wooden table (istockphoto)
Indian spices and herbs on wooden table (istockphoto)

The constant values behind the ratings

Policyholders’ interest should remain at the core of health insurance policies

Yes Bank’s board had approved raising of capital through a follow-on public offering on 7 July.bloomberg (MINT_PRINT)
Yes Bank’s board had approved raising of capital through a follow-on public offering on 7 July.bloomberg (MINT_PRINT)

ICICI Lombard inks bancassurance pact with Yes Bank

  • Bancassurance is an agreement between a bank and an insurer to sell its offerings to the lender’s customers
  • ICICI Lombard General Insurance is the largest private sector non-life insurer in India based on gross direct premium income in fiscal 2020

The partnership will provide the bank's diverse customer base access to the insurer's portfolio
The partnership will provide the bank's diverse customer base access to the insurer's portfolio

ICICI Lombard inks bancassurance tie up with Yes Bank

Through this tie-up, ICICI Lombard aims to offer innovative insurance solutions to Yes Bank's customers across 28 states and 8 union territories

Photo: Ramesh Pathania/Mint
Photo: Shutterstock
Photo: Shutterstock

Should index-linked insurance products make a comeback?

Ilips, when they were around, invested policyholders’ money mostly into indices related to government securities or bonds

COVID-19 Health insurance concept (Photo: iStock)
The policyholders need to be informed through SMS that policy document or copy of the proposal form, said IRDAI ( Photo: iStock)
The policyholders need to be informed through SMS that policy document or copy of the proposal form, said IRDAI ( Photo: iStock)

Buy health, auto insurance policies online; hard copies won't be required

  • Insurers shall send the policy document and a copy of the proposal form through digital, said IRDAI
  • For the consumer, it means a quicker and hassle-free process, which will help bring in further transparency, said Sanjay Datta, ICICI Lombard

Given the number of policyholders potentially affected, and assuming each makes a claim of as much as 20,000 pounds ($25,568), the total cost could stretch to more than 7 billion pounds.
Given the number of policyholders potentially affected, and assuming each makes a claim of as much as 20,000 pounds ($25,568), the total cost could stretch to more than 7 billion pounds.

World’s insurers await UK Covid ruling with billions at stake

  • The UK markets watchdog brought the case after small businesses struggled to get compensation from insurers for losses suffered during lockdown
  • The London case is one of thousands of legal battles around the world centered on business-interruption policies that insurers contend don’t cover pandemics

Myth 2: Those who have a history of corona virus will have to pay higher premiums now even if they have recovered fully. (istockphoto)
Myth 2: Those who have a history of corona virus will have to pay higher premiums now even if they have recovered fully. (istockphoto)

Covid19 and health insurance: 3 major myths busted

Myth 1: Buying a new health insurance plan or renewing the existing health insurance policy will be difficult for people who suffered but have successfully recovered from corona virus now.

COVID-19 Health insurance concept (istockphoto)
COVID-19 Health insurance concept (istockphoto)

Fixed-benefit plan helps cover costs that standard health policy doesn’t

Fixed-benefit plans pay a specified amount on meeting the agreed trigger

Health Insurance Form (Photo: iStock)
ICICI Prudential Life Insurance has had a volatile APE growth in the last one year and also underperformed peers. Photo: Reuters
ICICI Prudential Life Insurance has had a volatile APE growth in the last one year and also underperformed peers. Photo: Reuters

ICICI Prudential Life Insurance joins hands with NSDL Payments Bank

  • Customers of NSDL Payments Banks can buy POS life insurance product in an easy and hassle-free way from
  • This partnership will help the bank’s customers leverage our digital platform to conveniently purchase life insurance products,

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