Michigan health care costs could be on the rise
The cost of healthcare in Michigan is expected to increase significantly in the coming year. According to a report by the health policy research group KFF, insurers offering plans through the Affordable Care Act (ACA) will raise premiums by 15% next year, with some proposing hikes as high as 20%. Additionally, Medicaid is facing $1.2 trillion in national cuts, which will include work mandates and higher fees. These changes will likely have a significant impact on individuals and families who...
Thousands of DC residents may be at risk of losing their health coverage without even realizing it, due to a combination of factors related to the city’s healthcare system and the expiration of pandemic-related protections.
An estimated 95,000 people in Washington D.C. are at risk of losing their health coverage in the next decade due to federal cuts to Medicaid. The District's Department of Health Care Finance warns that many of these individuals may not be aware that they are at risk because they are enrolled in state-branded health programs that are funded by Medicaid. These programs, such as AmeriHealth Caritas in D.C., are often operated by private companies and may not be recognized as Medicaid plans by...
IRDAI takes action against health insurance claim lapses, targets 8 insurance companies: Report
The Insurance Regulatory and Development Authority of India (IRDAI) has conducted inspections at eight general insurance companies, including New India Assurance, ICICI Lombard General Insurance, and HDFC ERGO General Insurance, among others. The inspections aimed to review adherence to the Health Master Circular, a directive that streamlines health insurance processes. However, the regulator identified notable shortcomings in health claim practices, including inadequate adherence to the...
RBI policy rate cut possibility is high in August, and double-digit vehicle volumes growth in 2HFY26 cannot be ruled out, according to PNB MetLife’s Chief Investment Officer.
According to Sanjay Kumar, Chief Investment Officer at PNB MetLife, the Reserve Bank of India (RBI) may consider cutting policy rates again in August, but the threshold for doing so is quite high. This is due to the current inflation data, along with the outlook for good monsoon rainfall and benign global commodity prices, which may lead to inflation undershooting the RBI's projection of 3.7% for FY26. Kumar believes that the auto sector is gearing up for a robust second half in FY26, driven...
Bharti AXA has introduced a new life insurance plan that combines savings with insurance coverage.
Bharti AXA Life Insurance has introduced a new savings and protection product, the Bharti AXA Life Guaranteed Bachat Plan, tailored for middle-income Indians. This plan combines life cover with guaranteed savings, aiming to help families build financial security. The policy offers life cover from day one, with insurance protection up to 30 times the annual premium, which can be increased to 50 times with optional rider benefits. The Guaranteed Bachat Plan provides fixed returns on maturity,...
Star Health Insurance has teamed up with Medi Assist to revolutionize the claims process by leveraging artificial intelligence and digital innovation.
Star Health and Allied Insurance Company Ltd., India's largest retail health insurer, has partnered with Medi Assist to adopt MAtrix, an advanced AI-powered claims platform. This collaboration is a significant step in Star Health's claims transformation journey, aiming to deliver faster settlements, better customer engagement, and technology-led service excellence. The partnership will help identify and eliminate fraud, reduce waste and abuse, and modernize Star Health's claims ecosystem to be...
Americans are voicing their concerns about health insurance barriers and the necessity for policy reform, as revealed by the most recent Patient Experience Survey conducted by PhRMA.
A recent Patient Experience Survey conducted by the Pharmaceutical Research and Manufacturers of America (PhRMA) has shed light on the struggles Americans face when it comes to accessing healthcare due to barriers in health insurance. The survey, which gathered insights from patients, caregivers, and healthcare providers, highlights the need for policy changes to improve access to affordable healthcare. The survey results reveal that many Americans are facing significant challenges in...
PhonePe is providing insurance coverage for attendees of the Maha Kumbh Mela.
PhonePe, a digital payments firm, has launched an innovative insurance plan in partnership with ICICI Lombard General Insurance, specifically designed for travelers attending the Maha Kumbh Mela, a major spiritual event in Uttar Pradesh, India. The event, which takes place from January 13 to February 26, 2025, attracts millions of devotees from around the world. The insurance plan, available on the PhonePe platform until February 25, 2025, offers two options: Rs59 for travelers by train or bus...
Financial Services Institutions Bureau (FSIB) has recommended Sanjay Joshi for the post of Chairman and Managing Director (CMD) of Oriental Insurance Company.
The Financial Services Institutions Bureau (FSIB) has recommended Sanjay Joshi for the position of Chairman-cum-Managing Director (CMD) at Oriental Insurance Company Limited (OICL). The position had been vacant since the retirement of R.R. Singh, a direct recruit officer from the 1987 batch, in February 2025. To fill the gap, the government had appointed Executive Director Amit Misra as the acting CMD for a three-month period starting March 1, 2025. Sanjay Joshi is currently serving as General...
States are preparing for a potential reversal of the coverage gains made under the Affordable Care Act, also known as Obamacare, as a result of President Trump’s budget bill.
The Affordable Care Act (ACA) is facing significant changes under a new tax and spending bill pushed by President Donald Trump. The bill, which is expected to be signed into law, includes provisions that could undermine the gains in health insurance coverage made under the ACA. The changes would affect consumers, particularly in the 19 states that run their own ACA exchanges, and could lead to a significant loss of coverage for millions of people. One of the key changes is the end of automatic...
Edelweiss Life Insurance is leveraging a 75% cloud-based tech stack to drive enterprise-grade AI innovations, according to COO Kayzad Hiramanek.
As India's life insurance sector continues to evolve, companies like Edelweiss Life Insurance are rethinking their distribution, technology adoption, and customer engagement strategies. The company's Chief Operating Officer, Kayzad Hiramanek, emphasizes the importance of a digital-first approach, with over 75% of their applications, platforms, and data hosted on the cloud. This enables the company to provide a seamless customer experience, enhanced distributor experience, and superior customer...
Star Health collaborates with Medi Assist to implement AI-powered claims digitization.
Star Health and Allied Insurance, India's largest retail health insurer, has partnered with Medi Assist Healthcare Services to deploy an advanced AI-powered claims platform called MAtrix. This move is a significant step in Star Health's digital transformation journey, aimed at accelerating claims settlements, improving fraud detection, and enhancing customer service through automation and innovation. The partnership seeks to modernize Star Health's claims operations, making them more agile and...
Seventy-four percent of Indian financial companies have adopted Generative Artificial Intelligence, according to a report by EY.
In 2024, India's financial services sector saw significant adoption of Generative AI (GenAI) beyond innovation projects to business-driven implementation. According to an EY India survey, 74% of financial firms have initiated GenAI proof-of-concept projects, with 11% already running in production. Non-Banking Financial Companies (NBFCs) and insurers are at the forefront of this adoption, leveraging GenAI to reduce operational costs by up to 90% in areas such as customer engagement,...
Edelweiss Financial Services has launched a public issue of non-convertible debentures (NCDs) worth INR 300 crore, offering yields of up to 10.50%.
Edelweiss Financial Services Limited (EFSL) has announced a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) with an effective annual yield of up to 10.50%. The issue, which opens on July 8, 2025, and closes on July 21, 2025, offers NCDs with a face value of INR 1,000 each, aggregating up to INR 300 crore. The NCDs are rated Crisil A+/Stable by Crisil Ratings Limited, indicating strong creditworthiness with a stable outlook. The NCDs are available in 12 different series...
Air India plane crash: Insurance claim to exceed $120 million, set to be costliest for Indian aviation
The recent crash of an Air India flight in Ahmedabad is expected to result in one of the costliest aviation insurance claims in Indian history, with estimated claims exceeding $120 million. The insured value of the aircraft, known as the hull loss, is expected to be around $80 million, while passenger liability compensation could add an additional $30-50 million. However, the total liability payout could be significantly higher, potentially exceeding $100 million, due to the presence of...
Tata AIA has introduced two new funds, expanding its offerings to better serve the wealth and retirement planning needs of its customers.
Tata AIA Life Insurance has introduced two new funds, "Tata AIA Life Insurance Wealth Plus" and "Tata AIA Life Insurance Retirement Fund", to cater to the growing demands for wealth and retirement planning in India. The launch of these funds demonstrates Tata AIA's commitment to providing innovative and customer-centric solutions to its policyholders. The Tata AIA Life Insurance Wealth Plus fund is designed to help individuals accumulate wealth over time. This fund provides a flexible...
Healthcare regulator, common empanelment for hospitals must for pricing transparency: Bajaj Allianz CEO
The CEO of Bajaj Allianz, Tapan Singhel, has emphasized the importance of having a healthcare regulator and common empanelment for hospitals to ensure pricing transparency in the healthcare sector. He believes that the lack of transparency in medical billing is a significant issue in India, making it difficult for patients to understand the costs of their treatment. Singhel stated that a healthcare regulator would help to standardize treatment protocols and pricing, ensuring that patients...
8 Smart Tips to Save Money Effortlessly and Build Wealth Over Time
Renewing car insurance in Mumbai is a crucial task that requires careful consideration to ensure continuous coverage and protection for your vehicle. Here are 8 smart tips to help you save money and stay covered on Mumbai's busy roads: Renew before expiry: Timely renewal prevents coverage gaps and locks your premium rate for the year. Even a single day's lapse could result in inspections and increased premiums. Revisit your coverage: Review your optional covers, such as zero depreciation or...
The Competition Commission of India (CCI) has given its approval to Bajaj Finserv’s acquisition of Bajaj Allianz firms.
Omaxe, a leading real estate developer, has announced a significant expansion in Madhya Pradesh with the acquisition of 450 acres of land along Indore's Super Corridor. The company plans to develop a modern, integrated township on this land, with an investment of Rs 12 billion. The project is expected to be completed in multiple phases and is anticipated to generate a revenue of Rs 25 billion over a period of three years. The township will be a self-sustaining community, featuring a range of...
New India Assurance is mapping a robust roadmap for the future of Micro, Small, and Medium Enterprises (MSMEs) by providing them with comprehensive insurance solutions, thereby ensuring their stability and continued growth in an increasingly uncertain business environment.
On the occasion of ET World MSME Day, Girija Subramanian, Chairman and Managing Director of The New India Assurance Co. Ltd. (NIA), discussed the critical role of her company in protecting India's micro, small, and medium enterprises (MSMEs) through inclusive and tech-forward insurance solutions. With economic volatility, climate change, and digital transformation reshaping the business landscape, NIA is responding with innovative products to ensure MSMEs thrive. One of the pressing concerns...
Edelweiss makes inaugural flight to Halifax
Edelweiss, a Swiss airline, has launched a new route from Zurich to Halifax, a port city in Canada. The flights, which will operate on Thursdays and Sundays, will be serviced by an Airbus A340-300 until mid-October. This new route marks Edelweiss' third destination in Canada, after Vancouver and Calgary. According to Patrick Heymann, Chief Commercial Officer of Edelweiss, the addition of Halifax to their route network opens up a new and exciting region of Canada to travelers, offering a unique...
How Trump’s Tax Bill Impacts Medicaid, ACA Plans, and Hospitals: Key Takeaways
Medicaid Funding: The tax bill doesn’t directly cut Medicaid funding. However, it repeals the Affordable Care Act’s (ACA) individual mandate, which could lead to fewer people being insured, indirectly affecting Medicaid enrollment and funding.
ACA Plans: Repealing the individual mandate may cause healthier individuals to forgo insurance, leading to a sicker, more expensive pool of insureds. This could increase premiums for ACA plans, making them less affordable for many Americans.
Hospitals: The loss of insured patients due to the repeal of the individual mandate could increase the number of uninsured patients seeking care, leading to higher uncompensated care costs for hospitals. This could especially impact hospitals in states that did not expand Medicaid under the ACA.
Rural Hospitals: Rural hospitals, which often operate on thin margins, could be disproportionately affected by increased uncompensated care costs, potentially leading to more hospital closures.
Healthcare Workforce: The changes could also impact the healthcare workforce, as reduced Medicaid and ACA funding could lead to fewer jobs in the healthcare sector, particularly in rural and underserved areas.
State Responses: Some states may respond to these changes by seeking waivers to implement their own healthcare reforms, potentially leading to a more fragmented healthcare system across the country.
Long-term Care: The bill’s impact on long-term care is less direct but could be significant. Changes in Medicaid funding and the healthcare landscape could affect the ability of individuals to afford long-term care services.
Children’s Health Insurance Program (CHIP): While the tax bill does not directly address CHIP, the broader healthcare policy environment could influence CHIP funding and enrollment, affecting children’s access to healthcare.
Market Stability: The repeal of the individual mandate without a replacement could destabilize the health insurance market, leading to higher premiums and fewer plan options for consumers.
Future Legislative Actions: The impact of the tax bill on healthcare may be a precursor to further legislative actions on healthcare reform, potentially including changes to Medicaid, the ACA, and other healthcare programs.
Medicaid Funding: The tax bill doesn’t directly cut Medicaid funding. However, it repeals the Affordable Care Act’s (ACA) individual mandate, which could lead to fewer people being insured, indirectly affecting Medicaid enrollment and funding.
ACA Plans: Repealing the individual mandate may cause healthier individuals to forgo insurance, leading to a sicker, more expensive pool of insureds. This could increase premiums for ACA plans, making them less affordable for many Americans.
Hospitals: The loss of insured patients due to the repeal of the individual mandate could increase the number of uninsured patients seeking care, leading to higher uncompensated care costs for hospitals. This could especially impact hospitals in states that did not expand Medicaid under the ACA.
Rural Hospitals: Rural hospitals, which often operate on thin margins, could be disproportionately affected by increased uncompensated care costs, potentially leading to more hospital closures.
Healthcare Workforce: The changes could also impact the healthcare workforce, as reduced Medicaid and ACA funding could lead to fewer jobs in the healthcare sector, particularly in rural and underserved areas.
State Responses: Some states may respond to these changes by seeking waivers to implement their own healthcare reforms, potentially leading to a more fragmented healthcare system across the country.
Long-term Care: The bill’s impact on long-term care is less direct but could be significant. Changes in Medicaid funding and the healthcare landscape could affect the ability of individuals to afford long-term care services.
Children’s Health Insurance Program (CHIP): While the tax bill does not directly address CHIP, the broader healthcare policy environment could influence CHIP funding and enrollment, affecting children’s access to healthcare.
Market Stability: The repeal of the individual mandate without a replacement could destabilize the health insurance market, leading to higher premiums and fewer plan options for consumers.
Future Legislative Actions: The impact of the tax bill on healthcare may be a precursor to further legislative actions on healthcare reform, potentially including changes to Medicaid, the ACA, and other healthcare programs.
The recently passed tax and spending legislation in the US Congress is expected to have significant impacts on the country's healthcare system. The bill, which is awaiting President Donald Trump's signature, will cut federal health spending by about $1 trillion over a decade, leading to increased healthcare costs for millions of Americans. The Congressional Budget Office estimates that nearly 12 million more people will be without insurance by 2034, which will undermine the finances of...
Life Insurance Corporation (LIC) of India has intensified its efforts to target the younger demographic with the introduction of two new insurance plans.
The Life Insurance Corporation of India (LIC) has introduced two new non-par, non-linked individual plans, Nav Jeevan Shree and Nav Jeevan Shree Single Premium. These plans combine both savings and protection features, catering to the needs of individuals, particularly the younger generation. The plans aim to provide a comprehensive solution for individuals who wish to fulfill their dreams, goals, and responsibilities while also providing security. The Nav Jeevan Shree plan is a limited...
Edelweiss Mutual Fund CEO Radhika Gupta waded into the Prada Kolahpuris controversy, stating that every child is familiar with luxury brands like Prada and Gucci, yet only a handful are aware of the significance of Kolahpuris.
Radhika Gupta, the CEO of Edelweiss Mutual Fund, has sparked an online debate by criticizing the luxury fashion brand Prada for showcasing sandals that closely resemble India's traditional Kolhapuri chappals. Gupta took to social media to express her disappointment, stating that Prada is selling these sandals for over ₹1 lakh without giving due credit to the original artisans. She emphasized the need for Indians to preserve, brand, and benefit from their own cultural wealth, rather than...
Resolve long pending issues of LIC pensioners.
On Friday, Life Insurance Corporation (LIC) pensioners in Visakhapatnam staged a protest to demand resolution of their long-pending issues on the occasion of 'All India Demands Day'. The protest, organized by the All India Insurance Pensioners' Association (AIIPA), highlighted several key issues that have been pending for a long time. These issues include periodical updation of pension, eligibility for full pension after 20 years of service, pension determination based on last drawn pay, and...
An insurance company has been ordered to pay Rs 3 lakh to a woman after it wrongfully denied her claim.
The Punjab State Consumer Disputes Redressal Commission has ordered Star Health and Allied Insurance Company to pay Rs 3 lakh to Neelam Saini, a resident of Gurdaspur district, for denying her a health claim for pregnancy-related expenses. The company had rejected her claim citing an exclusion clause in the policy that stated it was not liable to make any payment for childbirth, including complicated deliveries and caesarean sections. However, the commission ruled that the company's rejection...
ICICI Prudential Life has launched a market-linked product targeted at the youth.
ICICI Prudential Life Insurance has introduced a new market-linked product, ICICI Pru Smart Insurance Plan Plus, designed to help customers build wealth over the long term. This product is affordable, with a monthly premium of just ₹1000, making it accessible to a large cross-section of young customers. The product combines a life cover component, which ensures that the customer's family is financially secure, with a systematic investment plan to achieve long-term financial goals. According to...
UIIC AO Interview Call Letter 2025 is now available for download, with a direct link provided.
The United India Insurance Company (UIIC) has released the interview call letter for the Administrative Officer (AO) position on its official website, www.uiic.co.in. The call letter was made available on February 14, 2025, for candidates who cleared the online examination. This year, UIIC has announced 200 vacancies for the AO post. Candidates who have qualified for the interview must download their call letter, which contains essential details such as the date, time, and venue of the...
‘Pledge to Protect’ Initiative Launched in Mumbai to Drive Insurance Awareness – The CSR Journal
The "Pledge to Protect" initiative was recently launched in Mumbai with the aim of promoting insurance awareness and driving adoption among the city's residents. The initiative is a collaborative effort between various stakeholders, including insurance companies, non-governmental organizations (NGOs), and government agencies. The primary objective of the initiative is to educate people about the importance of insurance and encourage them to take necessary measures to protect themselves and...
Public Sector General Insurance Firms Report ₹1,066 Crore Profit in Q3 FY 2024-25: Finance Ministry
The Indian Public Sector General Insurance Companies (PSGICs) have reported a significant turnaround in their financial performance, achieving a profit of Rs. 1,066 crore in the third quarter of the financial year 2024-25. This marks a notable improvement from the collective loss of over Rs. 10,000 crore reported in 2022-23. The four PSGICs - Oriental Insurance Company Ltd. (OICL), National Insurance Company Ltd. (NICL), United India Insurance Company Ltd. (UIICL), and New India Assurance...
Mohali: Insurer to pay ₹2 lakh for rejecting medical claim
The District Consumer Disputes Redressal Commission in Mohali has ordered HDFC ERGO Health Insurance Limited to reimburse ₹2 lakh to a policyholder, Kuldeep Singh Sandhu, who was wrongly denied a mediclaim. Sandhu had purchased a group mediclaim policy from Apollo Munich through Canara Bank, which provided a cover of ₹5 lakh for both him and his wife. The policy was valid from November 2019 to November 2020. In March 2020, Sandhu was admitted to a hospital after experiencing symptoms such as...
ManipalCigna Health Insurance conducted a health awareness drive and check-up camp in Neraluru, Karnataka.
ManipalCigna Health Insurance, a leading standalone health insurance company in India, launched an insurance awareness drive and health check-up camp at a government school in Bengaluru Urban. The initiative aimed to promote health insurance awareness and preventive healthcare among families in Tier 2-3 areas of Karnataka. Over 150 parents and students participated in the camp, which provided free full-body health check-ups, essential screenings, and consultations. The company also distributed...
Edelweiss ARC Issues EOI Seeking Investors, Developers For 1.7-Acre Khar Real Estate Project
Edelweiss Asset Reconstruction Company Limited (EARC) has issued an Expression of Interest (EOI) to invite investors and developers to take over and complete a stalled real estate project in Khar (West), Mumbai. The 1.7-acre project, known as Joy Legend, is located in a prime area, within less than 1 km proximity to Linking Road and 2-3 km from Bandra Railway Station, Khar Railway Station, and other colleges and hospitals. The project was originally undertaken by Joy Builders, which had...
Public sector general insurance companies collected a total premium of Rs 1.06 lakh crore in the fiscal year 2024-25.
The Indian government has reported a significant increase in the total premium collected by public sector general insurance companies (PSGICs) over the past few years. The total premium collected by PSGICs has risen from around Rs 80,000 crore in FY19 to nearly Rs 1.06 lakh crore in FY25. The overall general insurance industry has also experienced growth, with total premium collections reaching Rs 3.07 lakh crore in FY2024-25. Finance Minister Nirmala Sitharaman recently reviewed the...
ICICI Lombard has collaborated with Clearspeed to identify and prevent fraudulent claims.
ICICI Lombard, a leading private general insurance company in India, has partnered with Clearspeed, a global leader in voice-based risk assessment technology, to address the issue of fraudulent insurance claims in the country. The partnership, facilitated by channel partner Aelius, aims to tackle the problem of motor theft claims, which is a significant concern in the Indian market. Some individuals take advantage of this by filing false claims, and this partnership seeks to prevent such...
Meet the woman who once headed a Rs 59,800 crore government firm, now works as a yoga instructor; she is the daughter of India’s oldest billionaire.
Meet Ananya Birla, the daughter of India's oldest billionaire, Kumar Mangalam Birla. Ananya, who once led a government firm worth Rs 598,000 crore, has now taken a different path in her career. As the chairperson of the Aditya Birla Group's microfinance arm, Svatantra Microfin, Ananya has been working tirelessly to empower women and promote financial inclusion. Ananya's journey began when she was just 17 years old, when she started her own microfinance company, Svatantra Microfin. Her goal was...
Meet woman who once led Rs 59,800 crore govt firm, now works as…; daughter of India’s oldest billionaire – DNA India
The article features Ananya Birla, the daughter of Kumar Mangalam Birla, India's oldest billionaire. Ananya has taken an unconventional path in her career, despite being part of one of India's most influential business families. She was appointed as the chairperson of theStateChanged-owned firm, Swabhiman Anchal, which had a turnover of Rs 598,000 crore. However, she has now chosen to work as a full-time mental health advocate and entrepreneur. Ananya's journey began when she was appointed as...
Niva Bupa launches ‘Ab India Karega Rise’ to enhance health insurance accessibility for the middle class.
Niva Bupa, a health insurance brand, has launched a new digital campaign called "Ab India Karega Rise" to introduce its latest health insurance product, "Rise". The "Rise" plan is designed to bridge the gap between government health schemes and expensive private insurance plans, making quality healthcare more accessible and affordable for India's aspiring yet budget-conscious middle class. This demographic has long been ambitious and forward-looking, but rising healthcare costs have remained a...
Bajaj Group receives CCI approval to acquire 26% stake of Allianz in insurance joint ventures for Rs 24,180 crore.
The Competition Commission of India (CCI) has given approval for the Bajaj Group's acquisition of Allianz SE's 26% stake in their joint life and general insurance ventures, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. The deal, valued at Rs 24,180 crore, is the largest in the country's insurance sector. With this acquisition, the Bajaj Group's ownership in these companies will increase to 100% from 74%. The acquisition is being carried out by Bajaj Finserv,...
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HDFC Life has been ranked as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurer in India, has been recognized as a 'Next Leader' in corporate governance by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company's commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured on this prestigious list for the fourth consecutive year, which is based on the annual assessment of the BSE 100 companies using the Indian Corporate...
Women Prefer Term Insurance As Top Solution To Secure Their Child’s Future: Survey – Goodreturns
A recent survey conducted by Goodreturns has revealed that women in India prefer term insurance as the top solution to secure their child's future. The survey aimed to understand the financial priorities and preferences of women when it comes to planning for their children's future. The results show that term insurance has emerged as the most popular choice among women, followed by savings plans and mutual funds. The survey found that 71% of women respondents considered term insurance as the...
Niva Bupa Health Insurance Launches #WorldsMostResponsibleDad Campaign to Honour Fathers on Father’s Day
Niva Bupa Health Insurance Company Limited has launched a campaign called "#World'sMostResponsibleDad" to celebrate Father's Day and emphasize the importance of fathers securing their family's health and future. The campaign highlights that while fathers often prioritize their family's needs over their own, they tend to neglect their own health, with only 20% of fathers currently holding a health insurance policy. This data is a concern, as fathers' health is crucial in ensuring their family's...
Health cover beyond hospital care
The Indian healthcare landscape is undergoing a transformation, driven by medical advancements, growing awareness, and a shift towards preventive care. While corporate health insurance provides a critical safety net for millions of employees, its limitations are becoming increasingly evident. With healthcare costs expected to rise by 13% in 2025, individuals need to re-evaluate their health insurance coverage. The traditional corporate health insurance model, which focuses on hospitalization...
NIACL Apprentice Recruitment 2025: Registration starts for 500 vacancies, check details.
The New India Assurance Company Limited (NIACL) has commenced its online application process for recruiting 500 apprentices. Interested candidates can apply on the official website, newindia.co.in, until June 20, 2025. To be eligible, candidates must have a bachelor's degree in any field from a recognized university or hold equivalent qualifications, and must have graduated on or after April 1, 2021. The age limit for applicants is between 21 and 30 years old as of June 1, 2025. The selection...
Aditya Birla introduces the Super Term Plan, offering a combination of health services and flexible coverage options.
Bajaj Allianz introduces region-specific health insurance plans to cater to distinct state-wise requirements.
Bajaj Allianz General Insurance has launched a new health insurance policy that is customized to meet the unique healthcare needs of each state in India. The policy, called "State-wise Health Insurance Policy," takes into account the local hospital infrastructure, prevalent health concerns, and affordability levels of each state to provide comprehensive coverage that is both affordable and accessible. The policy is available in both individual and floater variants, with flexible sum insured...
Tata AIA has introduced two new fund offers (NFOs) aimed at capturing the potential of India’s growth narrative.
The Indian government's recent budget announcement has set the stage for a significant increase in disposable incomes, which is expected to drive consumption growth across various sectors. With the new tax regime, individuals with incomes up to ₹12.75 lakh will have zero tax liability, resulting in more spending power. This presents a unique investment opportunity, particularly in the consumption-driven growth story. Tata AIA Life Insurance has introduced two new funds, the Tata AIA Life Tax...
ED withdraws summons issued to Arvind Datar in Care Health ESOP investigation
According to a recent news report, advocate Datar, who has a history of representing the Securities and Exchange Board of India (SEBI) in high-profile cases, such as the Sahara fundraising matter, has made a statement to Enforcement Directorate (ED) officials. During an interaction, Datar is said to have informed the ED officials that lawyers cannot be summoned for investigations that involve their clients. This assertion is based on the principle of professional privilege, which is a...
Empowering global dreams with USD Plans by HDFC Life International – Companies
As the world celebrates Pravasi Bharatiya Divas, a day dedicated to honoring the contributions of Non-Resident Indians (NRIs), HDFC Life International is taking the opportunity to acknowledge the aspirations of both NRIs and Resident Indians with global ambitions. On this special occasion, Rahul Prasad, CEO of HDFC Life International and Re Company Limited, is highlighting the benefits of USD Plans designed specifically for individuals pursuing opportunities abroad. These USD Plans are...
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country's largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current financial year. However, Mohanty clarified that LIC is not looking to acquire a majority stake, with a holding of 51% or more. The move into health...
HDFC Life has appointed Pushkar Wadhone as its new Vice President of Human Resources.
HDFC Life, a leading insurance company, has appointed Pushkar Wadhone as its new Vice President of Human Resources. Wadhone brings over a decade of experience in HR leadership across diverse industries, including logistics, healthcare, and life sciences. He is an alumnus of XLRI Jamshedpur, one of India's premier business schools, with a specialization in Human Resource Management. In his previous roles, Wadhone has worked with companies such as DP World, Mahindra Logistics, Thermo Fisher...
Policybazaar and HDFC Life have partnered to launch a product that comes with a 100% claim assurance.
Policybazaar, a leading online insurance marketplace, has partnered with HDFC Life, a private life insurer, to launch a new term insurance product called HDFC Life Click 2 Protect Ultimate. This innovative product offers 100% claim assurance, providing customers with a secure financial safety net and a hassle-free claims experience. The product is designed to address two key consumer concerns: ease of purchasing insurance and a smooth claims process. The HDFC Life Click 2 Protect Ultimate...
ED Withdraws Summons To Sr Adv Pratap Venugopal After Supreme Court Bar Body’s Protest – Live Law
The Enforcement Directorate (ED) has withdrawn its summons issued to Senior Advocate Pratap Venugopal after the Supreme Court Bar Association (SCBA) protested against the move. The ED had summoned Venugopal in connection with a money laundering case, but the SCBA termed the summons as an "attempt to intimidate and harass" the senior advocate. The SCBA had expressed its strong objection to the summons, stating that it was an "unwarranted and unjustified" action against a respected member of the...
Bond market receives a boost with the successful launch of its first forwards deal
In a significant development for India's bond market, Kotak Life Insurance and JP Morgan India successfully executed the country's first bond forwards on May 5, 2025. This milestone was made possible after the Reserve Bank of India (RBI) permitted bond forwards in government securities from May 1, 2025. The introduction of bond forwards is expected to enhance the country's bond market infrastructure and provide institutional players, such as insurance companies and mutual funds, with a more...
Aviva abandons international growth plans, focuses on expanding domestic presence
Amanda Blanc, the CEO of Aviva, has made notable comments that highlight a significant shift in the company's strategy. Unlike in the past, when Aviva expanded its operations globally, Blanc's approach is more focused on consolidation and streamlining. The company, formed in 2000 through the merger of Norwich Union and CGU, had previously amassed a substantial overseas portfolio across Europe, North America, and Asia. However, under Blanc's leadership, which began in 2020, Aviva has undergone...
HDFC Life and SATYA MicroCapital have partnered to increase life insurance penetration in rural areas.
Welcome to our platform, where we offer a range of opportunities for businesses to advertise and connect with their customers. Our team is here to support you in creating a tailored advertising campaign that meets your needs, whether that's in print or digital format. We can help you reach your target audience through our website and print magazine, ensuring that your message is seen by the right people. In addition to advertising, we also specialize in organizing events that bring industry...
ICICI Pru Edge results in a 37% increase in agent productivity.
ICICI Prudential Life Insurance has reported a significant increase in agent productivity thanks to its "Advisor Stack" platform, known as IPRU Edge. The platform has led to a 37% increase in productivity among agents in the first half of the fiscal year 2025. According to Srinivas Balasubramanian, Chief of Product and Marketing, IPRU Edge provides agents with powerful tools and features that enable them to focus on revenue-generating tasks rather than administrative activities. The results...
LIC reports 14.64% growth in new business premiums for 2024, with total collections amounting to Rs 2.33 lakh crore.
The Life Insurance Corporation of India (LIC) has reported a significant 14.64% year-on-year growth in new business premiums, collecting a total of Rs 2.33 lakh crore in the January-December period of 2024. This outpaces the overall insurance industry's growth rate of 14.41% and the private life insurers' growth rate of 14.55%. The data, released by the Life Insurance Council, shows that LIC's premium collections increased from Rs 2,03,303 crore in the same period in 2023 to Rs 2,33,073.36...
Edelweiss has increased the fees for Bharat Bond by 2,000%, with Radhika Gupta providing insight into the reasoning behind this significant hike.
Edelweiss Asset Management Company (AMC) has announced a significant hike in the total expense ratio (TER) cap for its Bharat Bond ETFs, from a near-zero 0.0001% to 1%. This represents a 2,000% increase, which may have far-reaching implications for investors. However, the AMC has clarified that the actual expense is expected to be only a few basis points, with a possible increase to 0.02% for the time being. The TER represents the annual cost of managing a fund, expressed as a percentage of...
Senate Republicans propose deeper Medicaid cuts, a move that could have significant implications for millions of low-income Americans who rely on the program for healthcare. The proposed cuts would reduce federal funding for Medicaid, potentially leading to reduced benefits, increased costs, and decreased access to healthcare services for vulnerable populations, including children, pregnant women, and people with disabilities.
Senate Republicans have proposed a new healthcare bill that includes deeper Medicaid cuts than previously suggested. The bill, which aims to replace the Affordable Care Act (ACA), would significantly reduce federal funding for Medicaid, a program that provides health insurance to low-income individuals, children, and people with disabilities. The proposed cuts would have far-reaching consequences for millions of Americans who rely on Medicaid for their healthcare needs. The bill would convert...
HDFC Life appoints Pritika Shah as Head of Marketing, as CMO Vishal Subharwal departs.
HDFC Life, a leading life insurance provider in India, has announced the elevation of Pritika Shah to the position of Executive Vice President and Head of Marketing and Corporate Social Responsibility (CSR). Shah, who has been with the company for nearly 12 years, will oversee the development and implementation of marketing strategies, brand initiatives, and CSR programs. This move comes after the departure of Vishal Subharwal, who served as the Chief Marketing Officer (CMO) and Group Head at...
RenewBuy has partnered with LIC and ICICI Prudential to launch a term plan specifically designed for working professionals and small business owners, catering to their unique financial security needs.
RenewBuy, an insurance company, has launched a new term plan called Smart Term in partnership with leading insurers LIC and ICICI Prudential. The plan is designed to address the common pain points of term insurance, such as complexity, affordability, and lack of customization options. The Smart Term plan is tailored for working professionals and small business owners, particularly those living in Tier 2-3 cities, who are often deterred by the complexities of traditional term insurance plans....
LIC to fast-track insurance claims for victims of Air India AI-171 crash
The Life Insurance Corporation of India (LIC) has announced immediate measures to support the families of the victims of the Air India Flight AI-171 crash in Ahmedabad. The insurer expressed deep sorrow over the loss of lives and assured that it would expedite claim settlements to provide financial relief to the affected families. LIC has introduced several special concessions to ease the claim process, including accepting evidence from government records or compensation paid by authorities as...
HDFC Life Receives ICAI Award for Excellence in Financial Reporting for 2023-24
HDFC Life, a leading life insurer in India, has been awarded the Silver Shield in Category-III for Life Insurance at the ICAI Awards for Excellence in Financial Reporting 2023-24. The prestigious award was presented by Honourable Union Minister of State Shri Arjun Ram Meghwal at a ceremony held in New Delhi. The ICAI Awards, organized by the Institute of Chartered Accountants of India since 1958, recognize companies that demonstrate outstanding financial reporting standards. The award is a...
Aditya Birla Sun Life Insurance Introduces Super Term Plan to Increase Life Coverage
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched the ABSLI Super Term Plan, a comprehensive pure protection term insurance plan that provides goal-linked financial protection and built-in health management services. The plan is designed to support the overall well-being of policyholders and offers flexibility in coverage options. Policyholders can choose from three tailored coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium. The Level...
All You Need to Know
When purchasing a new bike, it's essential to understand the legal requirements for keeping it roadworthy and compliant with environmental pollution regulation standards. One of the necessary documents required to ride legally on the road is the Pollution Under Control (PUC) certificate. In this article, we will discuss the validity of the PUC certificate for new bikes. The PUC certificate is issued by authorized emission testing centers across India after the two-wheeler's exhaust gas is...
Former SBI Managing Director Dinesh Kumar Khara-headed FSIB has picked R Ravi Kumar and Dinesh Pant as its new members apart from reappointing the current employees then after selected M R Kumar was chief then TC Suseel kumar and atlast R Doraiswamy to take over as the Managing Director and Chief Executive Officer of LIC of India
The Financial Services Institutions Bureau (FSIB) has recommended R Doraiswamy, a seasoned executive with over 38 years of experience at the Life Insurance Corporation of India (LIC), for the post of Managing Director (MD) and Chief Executive Officer (CEO) of the company. The recommendation is significant as LIC is India's largest life insurance company, with assets under management (AUM) of over ₹45 lakh crore. The final decision now rests with the Appointments Committee of the Cabinet, which...
Aditya Birla Capital is now live on the Open Network for Digital Commerce (ONDC) across all three of its core financial services.
Aditya Birla Capital, a leading non-banking finance company (NBFC), has successfully integrated its core financial services on the Open Network for Digital Commerce (ONDC) platform. This milestone achievement enables the company to offer its services, including lending, insurance, and mutual fund investments, to customers through various live buyer apps on the ONDC network. As a result, customers can now access these services without the need to download or access multiple apps on their...
LIC of India has been awarded the ISO 22301:2019 Business Continuity Management System certification by the British Standards Institution.
The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification is a testament to LIC's commitment to maintaining its operations and services during disruptions, ensuring minimal impact on its customers, employees, and stakeholders. The ISO 22301:2019 standard is an international benchmark for business continuity...
Aditya Birla Capital has become the first player in the banking, financial services, and insurance (BFSI) sector to integrate its lending, insurance, and investment services with the Open Network for Digital Commerce (ONDC).
Aditya Birla Capital has become the first financial services company to integrate lending, insurance, and investments on the Open Network for Digital Commerce (ONDC). ONDC is a government initiative aimed at creating an open and interoperable e-commerce network, promoting inclusivity, competition, and accessibility in digital commerce. By integrating its core services, Aditya Birla Capital aims to simplify access to financial products and enhance the user experience. As a Wave-1 participant,...
Overloading Cannot Be Considered A Fundamental Breach Of Insurance Policy, NCDRC Rules In Favour Of Insured, Orders Bharti Axa To Pay Partial Amount
The National Consumer Disputes Redressal Commission (NCDRC) has ruled in favor of a complainant, K. Subbulakshmi, in a case against Bharti Axa General Insurance Company. The complainant's Eicher Van was insured with the company, but when the vehicle was involved in an accident, the insurance company repudiated the claim due to overloading. The company claimed that the vehicle was carrying 11.2 tonnes of load, exceeding the permitted capacity of 9.2 tonnes. The complainant filed a consumer...
SEBI Introduces A Novel Investment Category Merging Mutual Funds And Portfolio Management Services (PMS)
Edelweiss Asset Management (Edelweiss AMC) has launched a dedicated platform for Specialized Investment Funds (SIFs) called 'altiva SIF'. This move is a strategic early entry into a fast-evolving investment space, as sanctioned by the Securities and Exchange Board of India (SEBI). SIFs are a new asset class that aims to fill the gap between traditional Mutual Funds (MFs) and Portfolio Management Services/Alternative Investment Funds (PMS/AIFs). They offer investors a middle-ground solution,...
HDFC Life has been recognized as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurance company in India, has been recognized as a 'Next Leader' in the Indian Corporate Governance assessment conducted by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company's commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured in this prestigious list for the fourth consecutive year, which is based on the annual assessment of the BSE 100...
A fake call centre has been busted in Noida, with 4 individuals being taken into custody for allegedly operating an insurance fraud scheme.
A call center operating in Sector 11, Noida, has been busted by the police for running a large-scale insurance fraud scheme. Four individuals, including a woman, were arrested in connection with the scam, which targeted victims across Maharashtra, Gujarat, and Tamil Nadu. The accused, who were running the operation for two months, would impersonate insurance company representatives and ombudsman officials to deceive policyholders into transferring funds. The victims, who were misled into...
Major fire destroys Bajaj Allianz office
A devastating fire broke out at the Bajaj Allianz office in Siwan city, located near Hotel Prakash at Babunia Mor, early on Friday morning. The fire, which is believed to have been caused by a short circuit, resulted in extensive damage to the property and valuables. Fortunately, no casualties were reported in the incident, as the office was closed at the time. The fire quickly spread throughout the office, engulfing documents, computers, furniture, and other assets, reducing them to ashes...
Niva Bupa Health Insurance marks Father’s Day with the #WorldsMostResponsibleDad campaign
Niva Bupa Health Insurance Company Limited has launched a campaign called #World'sMostResponsibleDad to celebrate Father's Day and emphasize the importance of health insurance for fathers. The campaign highlights the sacrifices that fathers make for their families and encourages them to prioritize their own health and well-being. According to a consumer survey conducted by Niva Bupa, only 20% of fathers currently hold a health insurance policy, despite being the primary providers and...
New Term Insurance From Policybazaar, HDFC Life
Policybazaar has announced a partnership with HDFC Life to introduce a new term insurance plan called HDFC Life Click 2 Protect Ultimate. This plan guarantees 100% claim assurance, addressing a major concern for consumers who often worry about the hassle and uncertainty of claim settlements. The plan is designed to provide financial security with a seamless claims process, making it an attractive option for those seeking reliable insurance coverage. One of the key features of the plan is the...
Aditya Birla Sun Life Insurance has partnered with Equitas Small Finance Bank to increase access to life insurance products.
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has partnered with Equitas Small Finance Bank to offer a range of life insurance products to the bank's customers. This collaboration aims to increase financial protection and inclusion by making insurance solutions more accessible to Equitas customers. Through this partnership, Equitas customers will have direct access to ABSLI's comprehensive portfolio, including protection plans, savings plans, retirement solutions, endowments, and...
LIC, Bajaj Allianz expedite claim settlement for Air India plane crash victims
In response to the recent Air India plane crash in Ahmedabad, two major life insurance companies, Life Insurance Corporation (LIC) and Bajaj Allianz Life Insurance, have announced measures to expedite the claim settlement process for the victims' families. Recognizing the immense hardship faced by the families of the deceased, the companies have relaxed their documentation requirements and established special processes to facilitate timely claim settlements. LIC has introduced a concession in...
Which Insurance Company Has the Highest Claim Approval Rate? Find Out the Best Performers in This Report
When purchasing insurance, individuals trust that their insurance companies will provide financial support in times of need. However, a recent report by the Insurance Brokers Association of India (IBAI) revealed that the claim-to-settlement ratio in India dropped from 87% in FY22 to 86% in FY23. This means that out of all the claims filed, 86% were successfully settled, while 14% were rejected. The report compiled data from insurance providers to help individuals make informed decisions when...
Life Insurance Corporation has appointed a new Chief Information Officer.
The Life Insurance Corporation (LIC) of India has announced the appointment of Mr. Ramakrishnan Chander as its new Chief Investment Officer (CIO). This appointment was reported by the Business Standard, a leading Indian business newspaper. Mr. Chander will serve in this position until his superannuation, which is scheduled to take place on September 30, 2027. Mr. Chander is a veteran employee of LIC, having joined the organization in 1990 as an Assistant Administrative Officer. Over the years,...
Insurance companies are leveraging Artificial Intelligence (AI) to streamline hospital discharge and settlement processes, aiming to reduce the time and costs associated with these procedures. By implementing AI-powered systems, insurers can automate tasks, enhance data analysis, and improve communication with hospitals and policyholders. This can lead to faster and more efficient settlement of claims, reduced administrative burdens, and enhanced customer satisfaction. AI-driven solutions can also help identify potential issues and areas of inefficiency, enabling insurers to proactively address them and further optimize the discharge and settlement process.
Last month, Sampat Jain's family experienced a health scare when his sodium levels dropped, and he was hospitalized at Apollo Hospitals in Kolkata. Although he was ready to be discharged by 8:30 a.m., the process took nearly 12 hours to complete due to the lengthy discharge formalities and paperwork. This scenario is not uncommon in India, where manual procedures for claims assessment and settlement can be time-consuming. However, insurance companies are now leveraging artificial intelligence...
LIC rejects Telangana government’s plea regarding Rythu Bima
The Life Insurance Corporation (LIC) and the state government of Hyderabad are in a dispute over the payment of insurance premiums for the Rythu Bima scheme, a life insurance program for farmers. The scheme provides a life insurance cover of Rs 5 lakh to 45 lakh farmers, and the state government is responsible for paying the premium. However, due to financial constraints, the government has requested LIC to allow payment in installments, which the insurance company has rejected. The LIC has...
Bank of India has formed a strategic partnership with New India Assurance to drive insurance growth.
On March 24, 2025, Bank of India, a leading public sector bank, and New India Assurance Co. Ltd. (NIACL), India's premier insurance company, formed a strategic partnership. The partnership aims to provide a wide range of general insurance products to Bank of India's customers. With this collaboration, customers will have access to various insurance solutions, including health, motor, personal accident, home, and commercial insurance products offered by NIACL. According to Shri Rajneesh...
Bajaj Allianz Life Insurance achieves 99.29% claim settlement rate in FY 2024-25.
Bajaj Allianz Life Insurance has achieved a milestone in its claim settlement process, with a 99.29% individual death claim settlement ratio in the fiscal year 2024-2025. The company settled 13,994 individual life insurance claims, disbursing a total of Rs 862.79 crores in claim payouts. This impressive feat demonstrates the company's commitment to its customers and its ability to deliver on its promises. The company's claim settlement process has been streamlined, with 96% of eligible...
FSIB recommends R Doraiswamy as MD and CEO of LIC
The Financial Services Institutions Bureau (FSIB) has recommended R. Doraiswamy, the current Managing Director of Life Insurance Corporation of India (LIC), for the position of Chief Executive Officer and Managing Director (CEO & MD) at LIC. This recommendation was made after FSIB interviewed four candidates from LIC on June 11, 2025, for the top position. According to FSIB, Doraiswamy's performance during the interview, his overall experience, and the existing parameters made him the ideal...
Research And Views Archives | Equitymaster
The article from Equitymaster provides an overview of various mutual fund options in India. The platform offers a range of research and views on different types of mutual funds, allowing investors to customize their results based on their preferences. One of the articles highlighted is about the top 5 Nasdaq mutual funds in India, published on June 2, 2025. These funds offer geographical diversification, allowing investors to tap into the US market. The article provides a list of the top 5...
Life Insurance Corporation of India (LIC) has achieved a Guinness World Record for the ‘most life insurance policies sold in 24 hours’.
The Life Insurance Corporation of India (LIC) has achieved a Guinness World Record for selling the most life insurance policies in 24 hours. On January 20, 2025, the corporation's agents sold a record 5,88,107 life insurance policies across India. This feat was verified by Guinness World Records (GWR) and recognized the outstanding performance of LIC's dedicated agency network. The record-breaking sales were part of an initiative called "Mad Million Day" where agents were encouraged to...
Healthcare providers are considering the potential effects of MinnesotaCare eliminating coverage for adult undocumented immigrants.
In Minnesota, a significant change is set to take place in January 2026, as undocumented adult immigrants will no longer be eligible for state healthcare. This decision was made by lawmakers who voted to amend the policy, allowing only children to remain covered. The motivation behind this change, according to Republicans, is to reduce spending and prioritize the needs of Minnesota residents. However, Democrats strongly disagree, arguing that this move will ultimately lead to increased costs...
₹1.06 Lakh Crore Premium Collected By Public Sector Insurance Firms, FM Sitharaman Reviews Premium Collections
The total premium collected by public sector general insurance companies (PSGICs) has increased significantly, rising from around Rs 80,000 crore in FY19 to nearly Rs 1.06 lakh crore in FY25. The overall general insurance industry has also reported growth, with total premium collections reaching Rs 3.07 lakh crore in FY2024-25. This growth was reviewed by Finance Minister Nirmala Sitharaman in a meeting with PSGICs, where she discussed key performance indicators such as premium collections,...
Q4 results today: Infosys, Tata Elxsi, HDFC Life, HDFC AMC and others to declare earnings on April 17
The earnings season has begun on Dalal Street, with several companies announcing their financial results for the quarter and year ended March 31, 2025. On April 17, 13 companies, including tech major Infosys, are set to declare their earnings. Infosys, India's second-largest IT company, is expected to report muted earnings and a sequential fall in revenue for the quarter due to seasonal weakness in demand and margin pressure. According to JM Financial, Infosys is estimated to record a net...
Star Health names Rajeev Kher as Chairperson of the Board
Star Health and Allied Insurance Company Ltd, a leading standalone health insurance provider, has made a significant announcement regarding the appointment of a new Chairperson to its Board of Directors. At a Board meeting held on April 29, 2025, Rajeev Kher, an Independent Director, was appointed to this key position. This appointment is pending regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). Rajeev Kher brings a wealth of experience and expertise...
J&K Bank facilitates swift settlement of insurance claims worth
Jammu and Kashmir Bank has demonstrated its commitment to customer welfare by facilitating the swift settlement of MetLoan & Life Suraksha (MLLS) insurance claims for the bereaved families of its deceased borrowers in the Baramulla Zone. A total amount of Rs 2.09 Crores has been disbursed to 57 families, bringing much-needed financial relief during difficult times. The settlement was made possible through the bank's partnership with PNB MetLife, and a symbolic cheque representing the total...
March 3 – March 9, 2025
The Karnataka High Court has made several significant rulings in recent cases. In the case of Bhagavant Alagur vs. State of Karnataka, the court directed the state government to implement a satellite-based imagery system to monitor changes to river banks and sand bars, in order to prevent indiscriminate river sand mining that affects drinking water supply. The court also dismissed two public interest litigations seeking an enquiry into the Public Works Department and Karnataka Rural...
Life Insurance Corporation (LIC) plans to acquire a stake in a health insurance firm by March 31, according to CEO Mohanty.
The Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year, according to its Managing Director and CEO, Siddhartha Mohanty. The company is in the final stages of discussions, but the name of the potential investee has not been disclosed. Mohanty stated that entering the health insurance sector is a natural choice for LIC, given the growing demand for health insurance products in India. LIC is...
NIACL Assistant Mains admit card 2025 out; exam to be held in March
The New India Assurance Company Limited (NIACL) has announced the release of the Assistant Phase II online examination admit card for the year 2024. Candidates who are eligible to take the exam can download their hall tickets from the official website, newindia.co.in. The main examination is scheduled to take place on March 2 and will last for two hours. The exam will consist of 200 questions, worth 250 marks, and will have a penalty of 1/4th of the marks assigned to each question for...
IFFCO becomes first Co-operative to host AGM in Bharat Mandapam
The Indian Farmers Fertiliser Cooperative Limited (IFFCO) is set to make history by hosting its 54th Annual General Meeting (AGM) at the prestigious Bharat Mandapam, Pragati Maidan, New Delhi on May 29, 2025. This marks the first time a cooperative has held its AGM at this iconic venue, reflecting the growing strength and visibility of rural India and the cooperative movement. The event is expected to draw around 1,500 delegates from across the country, including over 1,000 elected...
Royal Sundaram appoints industry veteran Vedanarayanan Seshadri as Managing Director
Royal Sundaram General Insurance Co. Limited has announced the appointment of Vedanarayanan Seshadri as its new Managing Director, effective from May 28, 2025. Seshadri brings over 30 years of experience in the BFSI sector, with 15 years of senior leadership experience in the insurance domain. He has a strong background in insurance distribution, growth strategies, and leveraging digital transformation to enhance customer experiences. Seshadri expressed his honor and commitment to leading...
ICICI Prudential Life disburses ₹900 crore in loans.
ICICI Prudential Life Insurance has reported a significant increase in loan disbursals against traditional policies, with over ₹900 crore disbursed to 42,700 customers in the fiscal year 2024-25. This represents a 60% year-on-year increase, indicating a growing adoption of the loan against policy feature among customers. The loan feature allows policyholders to access up to 80% of the policy's surrender value, providing liquidity to meet unexpected financial obligations without interrupting...