General-Insurance

The number of insurance claims related to treatment for COVID-19 rose to 40 per cent of the total health insurance claims in September, according to an analysis. Based on its analysis of industry data, insurance aggregator Policybazaar.com said "most people filing the claim for COVID-19 treatment are senior citizens of age group 60 years and more, followed by people in...

Equity mutual funds witnessed an outflow of ₹ 734 crore in September, making it the third consecutive monthly withdrawal, mainly due to pull-out from multi-cap space. Besides, investors pulled out over ₹ 51,900 crore from debt mutual funds (MFs) last month compared to ₹ 3,907 crore in August, data from the Association of Mutual Funds in India showed on Thursday. Overall,...

Life Insurance Corporation (LIC)'s New Jeevan Anand plan comes with a dual benefit of protection and savings. The plan pays the surviving policyholder a lumpsum amount at the end of its term, or pays the nominee in case of death of the policyholder, according to LIVE's website - www.licindia.in. LIC is the country's largest life insurance company with provides...

The government's collection of Goods and Services Tax (GST) climbed to ₹ 95,480 crore in September, in signs of economic revival and return of demand due to lifting of COVID-19-related restrictions. That marked the highest level of GST collection in a month since the beginning of the lockdown to curb the spread of GST. The latest reading was 4 per...

Hyderabad, Tuesday, July 07, 2020: In the face of an ongoing economic crisis, Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail giant Future Group and global insurer Generali, announced promotions, annual increments & variable payouts to all its employees. The company declared that there will be no layoffs...

Mumbai, 6th July’20: India's homegrown financial technology platform Paytm (owned by One 97 Communications Limited) along with Vijay Shekhar Sharma is set to acquire Mumbai based private sector general insurer Raheja QBE. The acquisition is subject to customary conditions, including approval from the Insurance Regulatory and Development Authority of India (IRDAI). Raheja QBE is owned 51% by...

New Delhi, July 6, 2020: In its endeavor to make the Atal Pension Yojana attractive and to benefit 2.28 Crore subscribers enrolled under the scheme, PFRDA has asked all banks to process upgrade/ downgrade of pension amount requests of APY subscribers throughout the year with effect from 1st July 2020, however; once in a financial year. This...

The Coronavirus infection has impacted thousands of people worldwide. For those impacted, the stress goes beyond health and involves high medical costs, loss of pay (in some case) and associated financial stress. It is important for people to be aware that if they have a regular health Insurance plan from any insurer paying for medical costs either through a cashless facility or reimbursement, all...

~ ‘Faayde Ki Baat’ campaign spearheaded by General Insurance Council aims at increasing awareness and educate on the benefits of non-life insurance Mumbai: In a bid to increase awareness and adoption of non-life insurance, the General Insurance Council (GIC), the apex body of general insurers, with support from the Insurance Regulatory Authority of India (IRDAI) today launched an...

Mumbai, 10th October 2019: InsureNearby will embark on a journey to train their vast network of 7.5 lakh retail agents, registered under its sister organization PayNearby, and convert them into POS agents. The geographical reach of these last mile retail outlets will enable the company to provide insurance to marginalized customers in the most far flung towns and villages of...