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...
The insurance companies being a financial institution prone to various types of risks. They treated as custodian to the funds of general public and hence to serve its policyholders properly they have to manage and mitigate various types of risk. These companies are taking risks of general public in lieu of payment of small amount […]
CONCEPT OF REINSURANCE The Insurance companies generally take risks of insured in return for the premium. We know that these insurance companies are also prone to various types of risks. Since they are engaged in Financial Services and hence risks related to finance is huge in modern scenario. These risks increase more and more after […]
A medical emergency can heavily impact your emotional as well as financial life. Hence, it is prudent that you buy a health insurance plan early in life. You should even consider buying critical illness insurance and personal accident insurance for specific coverage. Moreover, when you buy health insurance plans in your early 30s, you get many assorted benefits.
Frequently Asked Questions on ‘Individual Covid Standard Health Policy: Corona Kavach Policy’ Q.1 Whether all the insurers shall offer ‘Corona Kavach Policy’? Ans. All the General and Standalone Health Insurers are mandated to offer Individual Covid Standard Health Policy “Corona Kavach Policy”. Q.2 How many insurers are offering “Corona Kavach Policy” currently? Ans. “Corona Kavach […]
1. Whether all the insurers shall offer ‘Arogya Sanjeevani Policy’? All the General and Standalone Health insurers are mandated to offer Standard Individual Health Insurance Product ‘Arogya Sanjeevani Policy’. However, if any insurer is currently not offering indemnity based health insurance products at all, the above stipulation will not apply to such insurers. 2. How […]
Max Bupa Health Insurance has come up with a Brand New Max Bupa ReAssure Health Insurance Plan. which will give you complete coverage not only against COVID-19 but for all medical needs.
The Cholamandalam MS General Insurance Company Limited Vs Ramesh Babu (Madras High court) In the present case, the Personal Accident Coverage Policy has been agreed between the appellant/Insurance company as well as the respondent. Rs.2,00,000/- is fixed under the Personal Accident Coverage Policy. The Tribunal has granted a sum of Rs.2,16,500/-towards compensation. The Tribunal has […]
Find out how Section 80C & Sec 10(10D) allows you to save taxes and get a financial cover with life insurance. Learn about the deduction, exemption, and implications of surrendering the policy.
Supreme Court in a recent ruling has observed that in the Motor Accident Compensation Claims, that the children and family would also be authorized for compensation under ‘Loss of consortium’ in claims of Motor Accident under the Act.
With monsoon touching almost all parts of the nation, it is bringing the much-needed relief from the summer heat. Monsoon is not only relief from the hot drenching summers but has its share of problems. One such issue that is common across all urban jungles is waterlogging. Clogging of waste and dirt that does not […]
