Finance : Section 10(10D) provides exemption only when premium limits are within prescribed thresholds. If premiums exceed these limits, mat...
Finance : The article highlights the need for integrated travel and health insurance to manage both medical emergencies and trip disruptions...
Income Tax : Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The...
Finance : Cyber insurance helps cover financial losses from cyberattacks like hacking and data breaches. It is becoming essential as digital...
Finance : The restoration feature ensures that insurance coverage can be reinstated after a major claim, helping maintain protection for oth...
Corporate Law : IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on exp...
Corporate Law : The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their ...
Corporate Law : IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protect...
Corporate Law : The Government clarified that claim rejections are based on policy conditions like exclusions and OPD classification. IRDAI mandat...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Supreme Court held that insurers impleaded as parties can raise all grounds, including quantum challenges. It remitted the case fo...
Income Tax : The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income acc...
Income Tax : The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tri...
Corporate Law : SC affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor's report. Ruling held that o...
Corporate Law : Supreme Court rules pre-2015 life insurance policies were freely transferable, affirming High Court's decision against LIC's refus...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The issue was the need to address increasing cyber risks in the insurance sector. IRDAI introduced updated guidelines with enhance...
Corporate Law : The circular shifts SLAs from a renewal-based licensing system to a registration regime with annual fees. This ensures continuity ...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
Corporate Law : The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers eff...
Understanding the jurisdiction of the High Court in cases of repudiation of life insurance claims. Know your rights and legal options.
It is how life insurance and life are interconnected. Owning life insurance is a mandate, and one should never underestimate it’s a necessity in life because catastrophes or unfortunate events don’t inform and arrive.
Uncover the facts about Cover Note or Interim Receipt in insurance. Learn what it is and how it provides coverage during the proposal stage.
On the disclosures made by the appellant with regard to his existing disease, namely diabetes mellitus II, the insurance company considered the same and issued the policy in question to the appellant. The respondent insurance company as a prudent insurer considered the details given by the appellant in the proposal form and issued the policy.
I was watching Amir Khan’s advertisement for Phone Pe on TV. The actor’s Motor Cycle was being destructed in a domino effect. Realizing the disaster in advance, the actor does not run to save his motorcycle but fills up form for insurance and makes payment through Phone Pe. The payment was so easy and fast […]
Understanding the importance of re-insurance in the insurance industry. Learn about the rights and benefits it offers to both insurers and insured parties.
We are still not out of the COVID-19 pandemic. The second wave of the pandemic overburdened the healthcare infrastructure of India. It also put a substantial financial burden on patients and their families. For many people, it was challenging to get appropriate care in such dire circumstances.
Discover the importance of health insurance in today’s world. Learn about the benefits of having a portable insurance policy that can protect you and your family.
There are situations when the family needs emergency funds. If invested at the right time in life insurance, it could provide benefit at a later stage of life. Financial security is something that is a must to ensure so that family can meet the financial requirement. Individuals often opt for insurance so that they can protect their families from financial worries in their absence.
(1) This Act may be called the General Insurance Business (Nationalisation) Amendment Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
