News


Travelling abroad this summer? Here’s how to minimize the cost and disruption of a cancelled trip

22

Apr 2019

Travelling abroad this summer? Here’s how to minimize the cost and disruption of a cancelled trip

During an unforeseen situation, you may be compelled to cancel your trip and this could turn out to be a massive financial loss. Travel Insurance: It is always better to protect your trip against any unforeseen event, especially in a foreign land. Amongst Indians, travelling to global destinations such as Europe, Thailand, Dubai and Bali for a vacation is the flavour this summer. As per...

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Is bank locker the safest option to store your valuables? Here is a better option

22

Apr 2019

Is bank locker the safest option to store your valuables? Here is a better option

Even today, the most common and traditional method of securing these valuables is by keeping them in bank lockers. All you need to know about the bank locker insurance policy In India, the importance of jewellery has been great and is considered as the main element of Indian culture and tradition. Even today, the most common and traditional method of securing these valuables, preferred by...

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Non-life insurers witness 13 percent rise in premium in FY19

22

Apr 2019

Non-life insurers witness 13 percent rise in premium in FY19

While the standalone private health insurers witnessed a rise of 37 per cent in their combined premium to Rs 11,368.82 crore in the financial year ended March 2019, against Rs 8,314.27 crore a year ago. However, the state-owned specialised insurers ? Agricultural Insurance Company of India and ECGC Ltd ? registered a drop of 7.75 per cent in premium at Rs 8,425.75 crore during the...

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Airtel Payments Bank partners with Bharti AXA General Insurance for two-wheeler insurance

20

Apr 2019

Airtel Payments Bank partners with Bharti AXA General Insurance for two-wheeler insurance

In a statement, Airtel Payments Bank said the product is available on MyAirtel App and at over 40,000 Airtel Payments Bank points across India during the first phase of launch. Airtel Payments Bank partners with Bharti AXA General Insurance for two-wheeler insurance Airtel Payments Bank Friday announced it has teamed up with Bharti AXA General Insurance for a two-wheeler insurance product offering. In a statement,...

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5 must have benefits to consider while buying a car insurance policy

17

Apr 2019

5 must have benefits to consider while buying a car insurance policy

Before buying a car insurance plan, it is important to understand the features and benefits of the motor insurance policy. Here are five benefits that you may look out for in a good car insurance policy. With the increasing demand for vehicles in the country, the car insurance industry too is witnessing significant growth. According to the Motor Vehicles Act, 1988, it is mandatory for...

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In this season of flight cancellations, remember to buy travel insurance

17

Apr 2019

In this season of flight cancellations, remember to buy travel insurance

In case of cancelled flights or delay, a valid travel insurance will enable the passenger to get compensation like refunds for flight tickets and accommodation As cash-strapped Jet Airways has cancelled most of its flights and is staring at a closure after it failed to find financial support, passengers who have booked their tickets in advance are seeking refund from the airline. While an airline...

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Know the two wheeler insurance rules before you buy bike insurance in 2019

15

Apr 2019

Know the two wheeler insurance rules before you buy bike insurance in 2019

While the third-party (TP) insurance cover continues to be a mandatory cover, there are three important changes that one needs to know before getting bike insurance. After the new rules in the two wheeler insurance, now the bike owner has two options to choose from. Find out. As a two-wheeler owner, while you were zooming around on the roads, the insurance regulator, IRDAI, has brought...

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Good News Travellers! Now buy travel insurance in less than 60 seconds

15

Apr 2019

Good News Travellers! Now buy travel insurance in less than 60 seconds

Now it is easier for individuals to buy travel insurance, especially in the wee hours before they are about to board a flight. A typical travel insurance policy offers coverage against lost passport, lost checked-in baggage, trip delays etc. You have received your boarding pass and the security check has also been done. Now, you are about to board the next flight to your favourite...

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Irdai asks insurers to share status of claims with policyholders from July 1

13

Apr 2019

Irdai asks insurers to share status of claims with policyholders from July 1

Insurance companies will have to inform about claim settlement status to policyholders at various stages of processing from July, Irdai said Wednesday. Insurance companies will have to inform about claim settlement status to policyholders at various stages of processing from July, Irdai said Wednesday. Insurers need to adopt a clear and transparent communication policy to protect the interest of policyholders, it said in a circular....

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5 reasons why taking cover against critical health illnesses becomes a necessity

09

Apr 2019

5 reasons why taking cover against critical health illnesses becomes a necessity

A majority of Indians continue to bear their medical expenses out of their pocket and at times even end up mortgaging their assets due to shortage of funds. in today’s time, with the constantly evolving lifestyle and our hectic routine we get little time to take care of ourselves. The ever-increasing cost of hospitalisation, especially the exorbitant ICU charges at the time of critical illness,...

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Major change in insurance claim settlement process on cards; Here is how it will impact you

09

Apr 2019

Major change in insurance claim settlement process on cards; Here is how it will impact you

Receiving the insurance claim money as a lump sum is currently the only option for the policyholders of general and health insurance products. Such a facility is introduced for the first time in case of general and health insurance products in the country. Insurance claim settlement process: Receiving the insurance claim money as a lump sum is the only option for the policyholders of general...

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World Health Day 2019: Best critical illness insurance plans in India and what they cover

08

Apr 2019

World Health Day 2019: Best critical illness insurance plans in India and what they cover

Unfortunately, there are some major critical illnesses that might put you under financial pressure as you may just need to take a sabbatical or even quit your job in order to recover from the illness. Although a Mediclaim policy covers hospitalization expenses, the loss of income which will be a direct result of a critical illness is not covered. While a lot of people are...

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Your expensive holiday abroad can turn from pleasure to pain; Do you have these critical travel insurance aspects covered?

03

Apr 2019

Your expensive holiday abroad can turn from pleasure to pain; Do you have these critical travel insurance aspects covered?

With numerous developments in the travel insurance space, travel insurance now covers you in ways you don’t even expect. Apart from offering financial recovery for medical expenses incurred due to accidents and illnesses, some of the travel insurance policies even cover pre-existing medical conditions. Failing to buy travel insurance for your international trip can surely come at a huge cost, and no one else can...

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Good news for car, bike owners! No increase in Motor TP insurance premiums from April 1

30

Mar 2019

Good news for car, bike owners! No increase in Motor TP insurance premiums from April 1

In a big relief to the motor insurance holders, the IRDAI has put the expected increase in annual premium for Third Party policies on hold until further orders. It was expected that IRDAI would increase the TP premium by 20-30% going by the last 6 years’ trend. In a big relief to the motor insurance holders, the Insurance Regulatory Authority of India (IRDAI) has put...

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How do I decide if I am actually under-insured?

25

Mar 2019

How do I decide if I am actually under-insured?

When you consider the adequacy of insurance, you need to consider various insurance covers, including life cover and medical cover. When you take a medical cover you need to balance between adequacy of cover and the cost of the cover. When Rutuj met his financial advisor for the first time, he started off quite confidently. He had a life cover of Rs 25 lakh and...

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How to file car insurance claims in case of fire

23

Mar 2019

How to file car insurance claims in case of fire

At times, you may be running a financed car and still paying the car loan EMIs on it. In such a case, when the loan outstanding is still there and the car gets damaged in a fire, you need to intimate the financier and also the RTO. The first step should be to intimate the insurance company who will arrange for a surveyor to examine...

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How insurance companies fared in the last 10 months

22

Mar 2019

How insurance companies fared in the last 10 months

Non-life insurers’ gross premium collection up 13% Gross direct premium collection of non-life insurance companies grew 13.43% between April 2018 and February 2019. General insurers received premiums of Rs 1.52 lakh crore during the period, against Rs 1.34 lakh crore in the previous financial year. Officials in the industry say the growth mostly came from health, motor insurance and personal accident insurance. According to the...

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Hurry up! Renew your car insurance policy by March 31 as Third Party insurance may become costly from April

19

Mar 2019

Hurry up! Renew your car insurance policy by March 31 as Third Party insurance may become costly from April

Those who might be waiting till the last day to renew their motor insurance need to be cautious so that they don’t end up purchasing possibly at a higher price post policy expiry in April. Car Third Party insurance premiums have increased by 29% on an average in the last 6 years. Come 1st April, there is an increase expected in the Motor Third party...

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Car Insurance: Know the new rules that will impact your car insurance premium in 2019

16

Mar 2019

Car Insurance: Know the new rules that will impact your car insurance premium in 2019

Two major announcements by IRDAI has changed the way car insurance is to be bought by every car owner. Here is how they may impact your car premium. Know the new rules for personal accident cover and bundled long-term car insurance in 2019 that will have impact on your car cover premiums. Motor insurance in India in 2019 is different as there were some major...

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