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The Supreme Court has delivered a significant ruling, stating that insurance companies cannot deny compensation to accident victims solely because the vehicle involved deviated from its permitted route or violated its permit conditions. A bench of Justices Sanjay Karol and Prashant Kumar Mishra emphasised that, in the context of motor accidents, the insurance policy’s primary…
Life Insurance Corporation of India (LIC), the country’s largest insurer, has introduced two new insurance products for the domestic market, available from 15 October. The two offerings, LIC Jan Suraksha and LIC Bima Lakshmi, are designed to cater to different individual needs, providing financial protection and savings benefits. These are the first products LIC has…
SBI General Insurance has launched its flagship retail health insurance product – ‘Health Alpha’. The product offers up to 10x cumulative bonus, unlimited sum insured, endless sum insured, and cover for gym and sports injuries, among other benefits. The product provides a wide range of sum insured options, ranging from ₹5 lakh to unlimited sum…
“I had undergone a precautionary heart scan in 2006. Nothing significant came up in the report and no treatment ever happened. I happened to mention it to the treating doctor when I got hospitalised in May 2023 for an open heart surgery. The insurer rejected my claim [for the surgery] and cancelled the policy saying…
Insurance intermediaries such as agents and brokers may see a hit to their commissions as insurers face pressure to pass on the full benefit of the recent GST (goods and services tax) cut to consumers. From 22 September, GST on individual life and health insurance policies was reduced to zero from 18%, but the removal…
Ajay Seth , Chairman of the Insurance Regulatory Development Authority of India (IRDAI) on September 17 (Wednesday), launched the official website of Bima Sugam India Federation (BSIF). In a statement, BSIF has been touted as the “first visible step” to building the country’s Digital Public Infrastructure (DPI) for insurance. The development is aligned with the…
India ’s clinicians are warning that people with diabetes face a markedly higher risk of heart disease, and are calling for earlier, routine cardiovascular screening and tighter risk control. A World Heart Month special highlights India’s unique profile: younger age of diabetes onset, central obesity, high triglycerides, hypertension, and smoking exposure—all of which accelerate…
