News


Auto Insurance: Disruptive technology brings changes in the sector

31

Oct 2018

Auto Insurance: Disruptive technology brings changes in the sector

The automotive insurance industry is being disrupted continuously by technology. The physical sales-oriented industry has fast-tracked to digital-only channels and now, with the introduction of Internet of Things, Artificial Intelligence and Blockchain has completely shaken up th sector while disrupting the underlying business model itself. While all may seem to be well within the industry, large insurers are struggling with challenges primarily in how to...

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Third party car insurance: Latest rates, key benefits and rules

29

Oct 2018

Third party car insurance: Latest rates, key benefits and rules

IRDAI has made the long-term insurance cover for new cars and two-wheelers mandatory. Here’s all you need to know about long-term third party car insurance. Long term third party car and bike insurance: The owner of vehicles would be benefited by having fixed premium rates for a long time. 1st September 2018 saw the implementation of long-term third-party liability-only policies of three years for cars...

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Edelweiss offers new features in health insurance for benefit of customers

27

Oct 2018

Edelweiss offers new features in health insurance for benefit of customers

Features such as Zero Discharge Time, Guaranteed Bed and Zero Deposit have been incorporated in Edelweiss Health Insurance policy. The ‘zero’ discharge time has been guaranteed for a total of 14 procedures. Edelweiss General Insurance Company has launched “Edelweiss Health Insurance”, a comprehensive health insurance policy, loaded with first-of-its-kind customer-friendly features and services like Zero Discharge time, Zero Deposit and Guaranteed Bed. The ‘zero’ discharge...

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New age health insurance products to cater to the specific customer requirements

26

Oct 2018

New age health insurance products to cater to the specific customer requirements

Health insurance companies in India have introduced several advanced products which have been precisely designed to suit the specific customer needs and requirements. It is important to understand the various components of these tailor-made products that companies offer to best suit customer’s needs. Keeping in view the strenuous life we live, health care coverage has become a pivotal need! The increasing healthcare costs are sure...

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Car insurance premium up sharply: Compulsory personal accident cover hiked to Rs 15 lakh

22

Oct 2018

Car insurance premium up sharply: Compulsory personal accident cover hiked to Rs 15 lakh

The compulsory personal accident cover for owner-driven vehicles under motor insurance policies has been increased from Rs 2 lakh to Rs 15 lakh.The insurance regulator, taking note of the Madras high court’s direction to it, has issued a circular on September 20 asking insurers to start issuing such covers effective from the date of receipt of this circular. However, insurance companies have time until October...

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How to choose long-term car insurance policy

22

Oct 2018

How to choose long-term car insurance policy

In line with the Supreme Court and Insurance Regulatory and Development Authority of India (Irdai) orders, a clutch of general insurance companies have rolled out long-term motor insurance policies. Those who have purchased their cars or two-wheelers post 1 September have to compulsorily buy three-year and five-year third party liability covers.Companies like New India Assurance, ICICI Lombard, HDFC ERGO, Tata-AIG, Digit and Acko have started...

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Non-life insurers to seek more time from SC for changes in motor cover norms

22

Oct 2018

Non-life insurers to seek more time from SC for changes in motor cover norms

Non-life insurers are planning to seek more time from the Supreme Court to implement its directives on making long-term third-party insurance mandatory and ensuring pollution under control (PUC) certificate is in place before motor insurance is issued. The top court had directed the Insurance Regulatory and Development Authority (Irda) on July 20 to ensure that from September 1 third-party insurance is in place for three...

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COMPENSATION UNDER MOTOR VEHICLES ACT

20

Aug 2018

COMPENSATION UNDER MOTOR VEHICLES ACT

COMPENSATION UNDER MOTOR VEHICLES ACT – AMENDMENT IN SECTION 163 A: Third Party Motor Accident claims can be registered with Motor Accidents Claims Tribunal (MACT) under the following Sections of the Motor Vehicles Act. Section 140 – This is a No Fault Liability claim under which the compensation payable is as under: 50000/- For Death And Rs.25000/- For Permanent Disablement. This Is Fixed Amount.  No Need To Prove...

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Weekly Credit News Update

20

Aug 2018

Weekly Credit News Update

“As an informed exporter, it is important to know the major economic indicators of the countries where you are exporting. This is important to foresee if there are any possible chances of payment defaults. If there is, changes can be made in the payment terms. Hence, in order to aid this decision making process, we present the findings provided by the Euler Hermes in weekly...

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Credit News Update: Italy, Africa, China, Canada

20

Aug 2018

Credit News Update: Italy, Africa, China, Canada

As an informed exporter, it is important to know the major economic indicators of the countries where you are exporting. This is important to foresee if there are any possible chances of payment defaults. If there is, changes can be made in the payment terms. Hence, in order to aid this decision making process, we present the findings provided by the Euler Hermes in weekly...

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Claims Under Directors And Officers Liability Insurance Policy

20

Aug 2018

Claims Under Directors And Officers Liability Insurance Policy

Director and Officer liability insurance is no more a luxury policy and it has become a mandatory policy in today’s world. We have collected a few claim examples which this policy covers and pays for the same. The policy is available at throw away prices and beacon has got expertise to stitch the policy to tailor your requirements.   Some claim examples & illustrations on...

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