Photo: Mint
New solvency norms for insurers on cards
1 min read . 06:11 AM ISTIrdai’s plans come at a time many insurers have solvency ratios just above the minimum limit of 150%
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Your insurance policy may reward you for staying fit
5 min read . 06:48 AM ISTInsurers to offer rewards to policyholders who comply with the set criteria of wellness
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
2 min read . 17 Sep 2020- '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
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IRDAI to introduce new solvency norms
4 min read . 17 Sep 2020- 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
Choose a health insurance that works for you
3 min read . 17 Sep 2020The moment of truth of a policy is on the benefits it gives and the claim going through
Varun Dua, CEO, Acko General Insurance.
Insurance firm ACKO raises $60 million
1 min read . 16 Sep 2020- 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
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Mint's guide to making a healthy insurance choice
2 min read . 16 Sep 2020We have rated health plans for sum insured of ₹5 lakh, ₹10 lakh, ₹20 lakh and ₹50 lakh and for 30 years, 45 years, 60 years and 75 years of age
Rendering of emoji faces (istockphoto)
What makes health policies top-notch
11 min read . 16 Sep 2020Run a policy through the MSMR parameters to gauge suitability
Indian spices and herbs on wooden table (istockphoto)
The constant values behind the ratings
3 min read . 15 Sep 2020Policyholders’ 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)
ICICI Lombard inks bancassurance pact with Yes Bank
1 min read . 15 Sep 2020- 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
ICICI Lombard inks bancassurance tie up with Yes Bank
1 min read . 14 Sep 2020Through 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
ICICI Lombard announces bancassurance tie-up with Yes Bank
1 min read . 14 Sep 2020Sanjeev Mantri, Executive Director of ICICI Lombard, said the company's continuous endeavour is to reach out to consumers and businesses for providing them effective risk management solutions
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Should index-linked insurance products make a comeback?
3 min read . 13 Sep 2020Ilips, when they were around, invested policyholders’ money mostly into indices related to government securities or bonds
COVID-19 Health insurance concept (Photo: iStock)
Covid treatment accounted for 11% of health insurance claims in Apr-Aug: Study
1 min read . 13 Sep 2020The research further revealed that 89% of health insurance claims during April 1, 2020 and August 31, 2020 were for other major illnesses, including cancer, heart problems, kidney and treatment
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
3 min read . 12 Sep 2020- 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.
World’s insurers await UK Covid ruling with billions at stake
2 min read . 12 Sep 2020- 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)
Covid19 and health insurance: 3 major myths busted
2 min read . 11 Sep 2020Myth 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)
Fixed-benefit plan helps cover costs that standard health policy doesn’t
2 min read . 10 Sep 2020Fixed-benefit plans pay a specified amount on meeting the agreed trigger
Health Insurance Form (Photo: iStock)
Insurers can obtain policy holders' consent through OTP: IRDAI
1 min read . 10 Sep 2020IRDAI has also exempted the insurers from mandatorily sending hard copy of the document to policyholders. However, the policies will have to be sent through electronic mode on the registered e-mail
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
1 min read . 10 Sep 2020- 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,
