ManipalCigna’s ‘Samman’ Initiative Honors Financial Advisors
ManipalCigna Health Insurance, a leading health insurance company in India, has launched an initiative called "Samman" to recognize and celebrate the contributions of financial advisors who have played a crucial role in promoting health insurance and financial protection across the country. The initiative aims to honor the dedication and hard work of these advisors, who have guided individuals and families towards financial security. The "Samman" initiative has already reached over 2,000...
Health insurance costs are increasing as financial assistance decreases, potentially impacting Champaign-Urbana.
The Affordable Care Act (ACA) marketplace is set to open for enrollment on November 1, but the average monthly premiums for 2026 plans are expected to more than double unless Congress extends subsidies that help cover those costs. The nonpartisan Congressional Budget Office estimates that if the subsidies expire, four million people will lose their coverage and become uninsured. This would have significant ripple effects throughout the community, including an increase in uncompensated care for...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the timing of policy receipts, citing the receipt of a quarterly installment of a government health policy in the previous month. Despite this, New India...
Aviva and Tesco have launched a life insurance partnership.
Aviva has partnered with Tesco Insurance & Money Services to launch a new life insurance product for Tesco customers. This partnership brings together Tesco's brand recognition and customer focus with Aviva's underwriting expertise and reputation in the protection industry. The new life insurance plan, available at tescoinsurance.com, offers a simple and fully mobile-optimized digital quote-and-apply service, with premiums starting from £5 per month. Tesco Clubcard members will benefit from...
360 BIZ: Transforming Employee Benefits through Seamless Digital Solutions
PNB MetLife India, a leading life insurance company, has launched a revolutionary digital platform called 360 BIZ, designed to transform the way businesses manage group insurance and employee benefits. The platform aims to simplify processes, enhance the employee experience, and provide comprehensive coverage and flexible benefits all in one place. With 360 BIZ, businesses can access a range of features, including group term life, critical illness coverage, and voluntary life insurance...
How Much More Would People Pay in Premiums if the ACA’s Enhanced Premium Tax Credits Expire? | KFF
The Health Insurance Marketplace Calculator is a tool designed to help individuals understand their options for health coverage and estimate their eligibility for financial assistance. However, users may encounter technical difficulties or have questions about how to use the calculator. To address these issues, the calculator's FAQs provide guidance on troubleshooting, understanding results, and navigating the complexities of health insurance premium tax credits. If users experience technical...
Court Overturns Insurer’s Definition of ‘Accident’
The Uttarakhand State Consumer Disputes Redressal Commission recently ruled in favor of a complainant, Smt. Meera Srivastava, in a case against IFFCO Tokio General Insurance Co. Ltd. The insurance company had denied a personal accident insurance claim made by Srivastava after her husband's death due to complications from rabies. The policy had been taken out as part of a personal loan agreement, and the husband had been covered from July 2010 to July 2011. The insurer repudiated the claim,...
Aviva has launched an online life insurance service for Tesco shoppers.
Aviva has partnered with Tesco to offer life insurance products through the supermarket's website. This marks the first time life insurance products have been available on the Tesco Insurance website, which already offers car, home, pet, and travel insurance. Customers can now purchase life insurance online through a digital quote and apply service, with policies starting from £5 per month and covering up to £5m. The policies are available in level and decreasing cover versions, with a joint...
Family health insurance in Kerala plays a vital role in promoting wellness and preventive care by providing financial protection against medical expenses, encouraging regular health check-ups, and covering costs for preventive screenings and vaccinations. This enables families to prioritize their health and wellbeing, reducing the risk of chronic diseases and improving overall quality of life. By covering expenses for doctor visits, diagnostic tests, and hospital stays, family health insurance in Kerala helps families access necessary medical care, fostering a culture of preventive care and early intervention.
Kerala is one of the most health-conscious states in India, with a strong emphasis on wellness and prevention. Health insurance companies in the state offer targeted wellness programs and preventive care as part of their policies, which play a significant role in promoting overall well-being. The best health insurance plans for families in Kerala should include features that motivate and encourage policyholders to reach their wellness goals. One of the key ways that family health insurance...
PNB MetLife’s 360 BIZ Revolutionizes Insurance with Innovative Solutions This Week
PNB MetLife India Insurance Company Limited has launched a digital platform called 360 BIZ, designed to simplify group insurance and employee benefits administration for companies of all sizes. The platform provides a seamless digital experience, bringing together comprehensive insurance coverage and flexible employee benefits. It offers a range of benefits, including Group Term Life, Voluntary Group Life, and Critical Illness cover for employees. The platform has several key features for...
Aviva: Rewiring the insurance claims journey with AI – McKinsey & Company
Aviva, a leading insurance company, has embarked on a journey to revolutionize its claims process by leveraging Artificial Intelligence (AI). In partnership with McKinsey & Company, Aviva aimed to transform the claims experience for its customers, making it faster, more efficient, and more personalized. The goal was to reduce the time and effort required to process claims, while also improving customer satisfaction and loyalty. To achieve this, Aviva implemented an AI-powered claims...
As Obamacare enrollment begins, certain groups should be concerned about their coverage.
As the open enrollment period for the Affordable Care Act (ACA), also known as Obamacare, begins, there are concerns about the potential impact of recent changes on the program. The Trump administration has made several modifications to the ACA, which may affect the number of people who enroll and the quality of coverage. Here are some key groups that should be worried: Low-income individuals and families: The Trump administration has reduced funding for outreach and advertising, which may...
Bhutani reviews IFFCO-TOKIO onboarding of cooperatives
The Union Ministry of Cooperation held a high-level review meeting on Tuesday at Atal Akshay Urja Bhawan in New Delhi. The meeting, chaired by Secretary Dr. Ashish Kumar Bhutani, aimed to assess the progress of IFFCO-TOKIO in onboarding cooperatives and outlining its business expansion strategies. The discussions focused on key areas such as strengthening cooperative outreach, widening insurance coverage, and aligning the company's growth plans with the Ministry's objectives. Dr. Bhutani...
NORKA Care health scheme reaches 1 lakh enrollment milestone, coverage to commence on November 1st
The Kerala government's NORKA Care health and accident insurance scheme for expatriate Keralites and their families has achieved a significant milestone by enrolling over 100,000 beneficiaries within just 40 days of its launch on September 22, 2025. This innovative scheme, implemented by the Kerala government through NORKA Roots, offers comprehensive coverage, including Rs 5 lakh health insurance and Rs 10 lakh accident insurance per family. The enrollment drive has seen extensive...
Motor Accident: Insurer Must Pay Compensation Even If Route Permit Violation Occurs, Can Recover From Owner – Supreme Court
The Supreme Court of India has ruled that insurance companies cannot deny compensation to accident victims simply because the vehicle involved was not following its permitted route. This decision was made in the case of K Nagendra v The New India Insurance Co Ltd, where a bus had strayed from its sanctioned route at the time of a fatal accident. The insurer, The New India Insurance Company Limited, had challenged the High Court's direction to pay compensation first and later recover from the...
Aviva has invested in Indico Data, a provider of insurance automation solutions.
Aviva Ventures, the venture capital arm of British insurer Aviva, has made a strategic investment in Indico Data, a company that specializes in AI-driven automation for insurance operations. The investment is expected to support the adoption of Indico Data's solutions by property and casualty (P&C) insurers worldwide. As part of the transaction, Aviva's chief innovation officer, Arslan Hannani, will join Indico's Board of Directors as a board observer and advisor. Aviva Ventures focuses on...
According to ManipalCigna Health Insurance, there has been a significant increase in dengue claims over the past 5 years, with a rise of 66%. South India has been identified as the leading region in this spike in cases.
According to data from ManipalCigna Health Insurance, health insurance claims for monsoon-related illnesses have increased at a compound annual growth rate (CAGR) of 34% over the past five years. The most common and costly illness during this season is dengue, with claims rising at a staggering 66% CAGR between 2020 and 2024. This significant increase can be attributed to the higher cost of treating dengue compared to other monsoon-linked illnesses, such as malaria and viral fevers. The study...
Motilal Oswal
Aditya Birla Capital (ABCAP) has released its 2QFY26 consolidated results, showcasing a 4% year-over-year (YoY) increase in revenue to approximately INR124.8 billion. The company's consolidated profit after tax (PAT), excluding one-off items, grew 3% YoY to around INR8.55 billion. The overall lending book, comprising both non-banking financial companies (NBFC) and housing, exhibited a significant 29% YoY growth and a 7% quarter-over-quarter (QoQ) increase, reaching approximately INR1.78...
Gold Coast Health Plan has announced the appointment of a new Chief Operating Officer.
Gold Coast Health Plan (GCHP) has announced the appointment of Suma Simcoe as its new Chief Operating Officer (COO), effective October 15, 2025. Simcoe brings over two decades of managed care experience to the role, having held senior positions at L.A. Care Health Plan and Molina Healthcare. She has a proven track record of transforming complex challenges into sustainable results and has expertise in all aspects of managed care operations, including enrollment, claims, and provider relations....
The Madras High Court has ruled that a borrower of a vehicle is equivalent to the owner in terms of liability and therefore, cannot claim compensation for an accident. According to the Motor Vehicles Act, when a person borrows a vehicle, they assume the responsibilities and liabilities associated with its ownership, at least in the context of accidents. This means that if the borrower is involved in an accident, they cannot seek compensation as they would be considered the owner of the vehicle for the purposes of the Act. The court’s decision effectively places the borrower in the shoes of the owner, making them responsible for any damages or liabilities arising from the accident, rather than allowing them to claim as a third party might.
The Madras High Court has ruled that a person who borrows a vehicle from its owner cannot claim compensation similar to a third party. This decision was made by Justice R Poornima of the Madurai bench, who referenced a Supreme Court case, Ramkhiladi and another Vs. United India Insurance Company and another. In that case, the court held that a claim petition under Section 163A was not maintainable by a borrower or permissible user of a vehicle against the owner or insurer of the vehicle. The...
ACA ‘window shopping’ for health care costs begins as shutdown fight continues: NPR
The Affordable Care Act (ACA), also known as Obamacare, is currently at the center of a government shutdown. Democrats are fighting to extend tax credits that help people pay for health care through the ACA exchanges, warning that without these subsidies, health care costs would skyrocket for millions of people. As the open enrollment period for 2025 begins, some individuals have started "window shopping" for health insurance plans, and some may see significant increases in their premiums....
Aditya Birla Capital’s Q2 profit rises 3% to Rs 855 crore
Aditya Birla Capital, the financial services arm of the Aditya Birla Group, has reported a 3% increase in consolidated net profit for the second quarter ended September 2025. The company's net profit stood at Rs 855 crore, up from Rs 834 crore in the same quarter of the previous financial year. The total income of the company rose to Rs 10,609 crore during the quarter, compared to Rs 10,362 crore a year ago. The interest income of the company increased to Rs 5,003 crore, up from Rs 4,141 crore...
Mumbai: Consumer Protection Body Orders Manipal Cigna To Reinstate Health Insurance Policy & Compensate ₹3 Lakh To Client For Mental Agony
A consumer protection body in Mumbai has ordered Manipal Cigna Health Insurance Company to reinstate a health insurance policy and compensate a client ₹3 lakh for the mental agony caused. The client, a Mumbai resident, had purchased a health insurance policy from Manipal Cigna in 2018. However, the insurance company cancelled the policy in 2020 without providing any valid reason. The client had paid all the premiums on time and had not made any claims under the policy. Despite this, the...
The innovations from Swiss and Edelweiss in summer 2026 include new routes and increased frequencies on existing ones, with Swiss introducing flights to destinations such as Bangkok and Edelweiss expanding its network to include cities like Tromsø and Kuusamo.
Swiss International Air Lines has announced its summer 2026 flight schedule, which includes new destinations, increased frequencies, and expanded services. Starting March 29, 2026, Swiss will operate flights to Poznań, Poland, three times a week, and Rijeka, Croatia, twice a week during the summer months. The airline will also increase frequencies to popular destinations such as Alicante, Valencia, Manchester, and Venice, with some routes offering up to 28 or 29 weekly flights. In addition to...
Chola MS PAT drops 28.3% in Q2 FY26
Cholamandalam MS General Insurance Company (Chola MS) has reported a decline in its profit after tax (PAT) by 28.3% in the second quarter of the financial year 2025-26. The company's PAT stood at Rs 119 crore in Q2 FY26, compared to Rs 166 crore in the corresponding quarter of the previous year. The decline in PAT is attributed to a significant increase in claims and a rise in operating expenses. The company's gross written premium (GWP) grew by 12.1% to Rs 2,441 crore in Q2 FY26, compared to...
India’s establishment of a new Protection and Indemnity (P&I) club has raised questions about the strategic motives behind this move, particularly in light of the country’s rapidly increasing trade with Russia.
The Indian government is moving forward with plans to establish a national shipping club, known as the India Club, to provide insurance coverage for third-party liabilities in the maritime industry. This move aims to reduce the country's dependence on international P&I (Protection and Indemnity) clubs, particularly the London-based International Group (IG), which currently dominates the global maritime liability market. Shipping Secretary T.K. Ramachandran has confirmed the government's...
Health Insurance Premium Spikes Imminent as Tax Credit Enhancements Set to Expire – Center on Budget and Policy Priorities
The Center on Budget and Policy Priorities has warned that health insurance premium spikes are imminent as tax credit enhancements are set to expire. The American Rescue Plan Act (ARPA) of 2021 provided temporary enhancements to the Affordable Care Act's (ACA) premium tax credits, which helped make health insurance more affordable for millions of Americans. However, these enhancements are scheduled to expire at the end of 2022, which could lead to significant premium increases for many...
PNB MetLife’s 360 BIZ delivers insurance innovation
PNB MetLife India Insurance Company Limited has launched a digital platform called 360 BIZ, designed to simplify group insurance and employee benefits administration for companies. The platform aims to provide a seamless digital experience for both employees and employers, bringing together comprehensive insurance coverage and flexible employee benefits. The platform offers a range of benefits, including Group Term Life, Voluntary Group Life, and Critical Illness cover for employees. According...
Government Shutdown Persists, Healthcare Costs Expected to Rise
The government shutdown has entered its fourth week, and with open enrollment for health insurance approaching, many Americans are concerned about the cost of their coverage. The Affordable Care Act (ACA) provides subsidies to individuals and families, which can help make health insurance more affordable. However, disagreements over the ACA are a leading cause of the shutdown, and if the ACA tax credits expire, insurance brokers warn that customers should prepare for the cost of their health...
Mississippi is bracing for a potential surge in health insurance premiums.
Mississippi Insurance Commissioner Mike Chaney has issued a warning that health insurance premiums in the state could increase by over 300% if tax credits under the Affordable Care Act (ACA) are not extended. This could lead to approximately 200,000 residents losing their health insurance coverage. Chaney explained that the increase in premiums would be unsustainable for many Mississippians, who would likely drop their coverage due to the high costs. As a result, there would be fewer people...
The Supreme Court has ruled that an insurance company is not liable to pay compensation if a driver dies due to their own negligence.
The Supreme Court of India has made a significant ruling regarding motor accident compensation, stating that insurance companies are not liable to pay compensation if a driver's death results from their own negligence or reckless driving. The court emphasized that if an accident occurs due to the driver's own fault, such as overspeeding or violating traffic rules, the insurer cannot be compelled to compensate the deceased's family. The judgment was delivered in the case of N.S. Ravish, who...
Future-Ready Protection: Tata AIA’s Digital Leap Redefining Life Insurance Experience – Press Trust of India
Tata AIA Life Insurance has taken a significant digital leap, redefining the life insurance experience for its customers. The company's future-ready protection strategy is designed to provide a seamless and personalized experience, leveraging cutting-edge technology to make life insurance more accessible and convenient. At the heart of Tata AIA's digital transformation is its customer-centric approach. The company has invested heavily in developing a robust digital infrastructure, enabling...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission for individual health and life insurance. As a result, insurance companies are reducing commission payouts to distributors to absorb the loss of ITC...
Health insurance rates are skyrocketing due to several factors. Firstly, the increasing cost of medical care and services is a major contributor, as healthcare providers and facilities raise their prices to keep up with rising operational costs. Additionally, the growing prevalence of chronic diseases, such as diabetes and heart disease, leads to higher treatment costs, which are then passed on to policyholders through increased premiums. Furthermore, the rising cost of prescription medications, particularly specialty drugs, also plays a significant role in driving up health insurance rates. The impact of an aging population, with older adults requiring more frequent and costly medical care, is another factor contributing to the upward trend in health insurance costs. Moreover, the decreasing number of insured individuals, particularly among younger and healthier populations, leads to a smaller risk pool, causing premiums to rise for those who remain insured. Regulatory changes and mandates, such as the Affordable Care Act, have also had an impact on health insurance rates, as have the costs associated with administrative and regulatory compliance. Lastly, the fluctuating healthcare market and the consolidation of healthcare providers and insurers have led to reduced competition and increased costs, ultimately resulting in higher health insurance rates for consumers.
Open enrollment for health care plans has begun, allowing individuals to enroll, renew, or change their plans for the upcoming year. However, many people will experience sticker shock due to rising health care costs. According to Beth Umland, director of Employer Research for Health and Benefits at Mercer, the total health cost of health benefits is expected to increase by 6.5% next year, the highest increase in 15 years. This means that employees will likely see higher paycheck deductions as...
Edelweiss Mutual Fund’s Altiva Hybrid Long-Short Scheme for Information Filings (SIF) has raised ₹320 crore in its maiden subscription.
Edelweiss Mutual Fund has successfully completed the first subscription of its Altiva Hybrid Long-Short Specialised Investment Fund (SIF), raising approximately ₹320 crore from both individual and corporate investors. This unique interval fund combines a core allocation to fixed income, equity arbitrage, and long/short equity strategies, with selective opportunities in special situations such as IPOs, buybacks, and mergers. The fund aims to provide consistent, income-oriented returns with...
A tug-of-war is brewing over cashless health insurance, posing a potential threat to policy holders.
A recent standoff between hospitals and health insurance providers in India has raised concerns among policy-holders about the availability of cashless health insurance services. The Association of Healthcare Providers of India (AHPI) had advised its member hospitals to suspend cashless services provided by Bajaj Allianz, citing issues such as abrupt stoppage of services, delays in empanelment, payment disputes, and questioning of clinical decisions. The General Insurance Council (GIC)...
CRED has expanded its insurance network by partnering with Bajaj Allianz, Tata AIG, and United India on its garage platform.
CRED, a fintech company, has expanded its motor insurance offerings on its CRED Garage platform by partnering with three new insurance providers: Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of insurance providers on the platform to seven, including existing partners ACKO, ICICI Lombard, Zurich Kotak, and Digit. CRED Garage offers a range of services, including premium comparison, policy renewal reminders, digital claims initiation, and...
Millions of people are facing sharply increasing health insurance premiums due to the GOP’s refusal to extend subsidies under the Affordable Care Act, also known as Obamacare.
The US federal government shutdown has entered its 28th day, with Democrats demanding that Republicans agree to extend healthcare subsidies from the Affordable Care Act that are set to expire. If Congress does not act, health insurance premiums are expected to more than double for 20 million people. Dr. Steffie Woolhandler, a distinguished professor of public health at Hunter College-CUNY and co-founder of Physicians for a National Health Program, explains that the purpose of healthcare has...
Aviva’s wealth unit experiences £2.3 billion in inflows, resulting in a 5% increase in assets.
Aviva's wealth unit has experienced a significant surge in inflows, with £2.3 billion in new investments, leading to a 5% increase in assets under management. This growth is a testament to the company's efforts to expand its wealth management business and attract new clients. The influx of new funds has boosted Aviva's assets under management to a substantial level, demonstrating the company's ability to compete in the competitive wealth management market. The £2.3 billion in inflows is a...
Delhi High Court upholds ₹33.26 crore award against United India Insurance, rules that consent letter was vitiated by economic duress.
The Delhi High Court has upheld an arbitral award in favor of M/S Valley Iron & Steel Company Limited (Insured) against United India Insurance Company Limited (Insurer). The court dismissed the insurer's petition under Section 34 of the Arbitration and Conciliation Act, which challenged the arbitral award directing the insurer to pay Rs. 33.26 crore to the insured. The court held that a discharge voucher or consent letter signed under economic duress does not bar arbitration. The case...
The Business of Better Healthcare
The United States is facing a perfect storm that is driving healthcare costs to unprecedented levels. The country's healthcare system is plagued by a combination of factors, including high drug prices, administrative waste, and rising hospital costs. These factors are contributing to a significant increase in healthcare spending, making it difficult for individuals and families to afford medical care. One of the main drivers of high healthcare costs is the increasing price of prescription...
Aviva expert questions new solvency regime – report
At the Insurance Investor Live forum in London, a representative from Aviva, Albici, expressed concerns about the current state of the UK insurance industry. Albici, who is responsible for private asset origination for Aviva's annuity business, stated that the Prudential Regulation Authority (PRA) had initially aimed to make UK insurers more competitive and encourage investment in real assets that contribute to economic growth. However, he noted that the industry has actually moved in the...
Edelweiss Air has launched seasonal flights from Zurich to Colombo.
Edelweiss Air, a subsidiary of the Lufthansa Group, has launched its seasonal flights from Zurich to Colombo, marking the beginning of the winter travel season. The inaugural flight, WK-064, arrived at Bandaranaike International Airport (BIA) in Katunayake on October 28th, carrying 257 passengers. The flight was operated by an Airbus A340, with 27 passengers in business class and 230 in economy, accompanied by 12 cabin crew members. The aircraft was greeted with a traditional water salute upon...
A CRPF officer’s relentless battle with an insurance company for his autistic son’s treatment was a difficult and trying experience. The officer’s fight was not just about securing coverage, but also about ensuring his child received the necessary care and support. Despite the challenges, the officer persevered, driven by his determination to provide the best possible life for his son. The outcome of this struggle ultimately led to a resolution, with the insurance company covering the costs of the child’s treatment, making hospitalization unnecessary.
In India, the decision to hospitalize a patient is increasingly being made by health insurance companies rather than doctors. This was the experience of Syam Krishna, a 34-year-old Assistant Commandant in the CRPF, whose four-and-a-half-year-old autistic son, Samarth, fell critically ill in a remote town in Meghalaya. Afterinitial consultations at the local district hospital, Samarth's condition worsened, and his parents decided to take him to a hospital in Guwahati, a six-hour journey away....
The Supreme Court has stayed an order from the National Consumer Disputes Redressal Commission (NCDRC) that directed an insurer to pay Rs. 82.8 lakh to the Rajasthan Royals, a cricket team that competes in the Indian Premier League (IPL).
The Supreme Court of India has stayed an order issued by the National Consumer Disputes Redressal Commission (NCDRC) that directed United India Insurance to pay ₹82.8 lakh to Royal Multisport Pvt Ltd, the parent company of the Indian Premier League (IPL) franchise Rajasthan Royals. The order was related to a claim arising from cricketer S. Sreesanth's knee injury during the 2012 IPL season. In 2012, Royal Multisport Pvt Ltd had contracted several players, including Sreesanth, for the IPL...
A healthcare compromise appears to be nowhere in sight as the shutdown continues.
The government shutdown has reignited the debate over the future of the Affordable Care Act (ACA), also known as Obamacare. The tax credits for people who get health insurance through the ACA marketplaces are set to expire at the end of the year, and Democrats are refusing to vote to reopen the government until Republicans agree to extend the subsidies. Republicans, on the other hand, are insisting that Democrats vote to reopen the government before they will negotiate on the issue. The ACA,...
Illinois residents are facing a significant increase in their Affordable Care Act (ACA) health insurance premiums, with a substantial 78% hike.
Illinois residents who purchase health insurance through the Affordable Care Act (ACA) marketplace are facing a significant increase in premiums for 2023. According to recent reports, premiums are expected to rise by an average of 78% across the state. This substantial hike is likely to affect over 300,000 Illinoisans who rely on the ACA marketplace for their health insurance coverage. The main driver behind this increase is the expiration of temporary subsidies provided by the federal...
Here is why health insurance rates are skyrocketing
Open enrollment for health care plans has begun, and individuals can expect to face significant increases in costs. According to Beth Umland, director of Employer Research for Health and Benefits at Mercer, the total cost of health benefits is projected to rise by 6.5% next year, the highest increase in 15 years. This means that employees can expect to see higher paycheck deductions as employers shift more health care costs to their staff. The same health care services and goods that were...
When does Indian ‘middle class’ stop being middle class? Edelweiss’ Radhika Gupta explains why you might not be one
The concept of the middle class in India has been a topic of debate for decades, with the definition becoming increasingly blurred due to economic growth, rising aspirations, and widening income gaps. The traditional notion of the middle class referred to individuals with modest earnings, stable jobs, and limited luxuries. However, with urban salaries on the rise and social media influencing lifestyle choices, many individuals with high incomes are still identifying as middle class. Recently,...
Tata AIA Introduces ‘Shubh Family Protect’
Tata AIA Life Insurance Co. Ltd. has launched a new term plan called Tata AIA Shubh Family Protect, which offers a unique combination of an immediate lump-sum payout and a flexible monthly income for up to 30 years. This plan is designed to provide comprehensive financial protection for families in the event of a sudden loss of a loved one. The plan understands that a large lump-sum payout can be difficult to manage, especially during a time of emotional devastation, and instead offers a...
The Supreme Court has stayed an order from the National Consumer Disputes Redressal Commission (NCDRC) that directed an insurer to compensate the Rajasthan Royals for an injury sustained by cricketer Sreesanth.
The Supreme Court has stayed an order by the National Consumer Disputes Redressal Commission (NCDRC) that directed United India Insurance Company to pay over Rs. 82 lakhs to the owner of the Indian Premier League (IPL) team, Rajasthan Royals. The payment was in relation to an injury sustained by cricketer S. Sreesanth during the 2012 IPL tournament. The insurance company had challenged the NCDRC order in the Supreme Court. The case dates back to 2012 when Rajasthan Royals had obtained a...
WestBridge Capital is acquiring a 15% stake in Edelweiss Asset Management for Rs 450 crore.
The recent transaction between Edelweiss Financial Services Limited (EFSL), Edelweiss Mutual Fund (Edelweiss MF), and WestBridge has significant implications for all parties involved. For EFSL, this deal marks a crucial step in its value creation and value unlock journey in the mutual fund (MF) business. The transaction is expected to enhance the company's growth prospects and unlock new opportunities, ultimately leading to increased value for its stakeholders. From Edelweiss MF's perspective,...
The shutdown’s looming health care cliff – Politico
The ongoing government shutdown is posing a significant threat to the US healthcare system, with a looming "health care cliff" that could have devastating consequences for millions of Americans. The shutdown, which has been ongoing for several weeks, has already begun to affect various healthcare programs and services, and the situation is expected to worsen in the coming days and weeks. One of the most pressing concerns is the impact on the Indian Health Service (IHS), which provides...
Generally, it is not cheaper to pay for medical care without health insurance.
As the cost of health insurance continues to rise, some Americans are considering opting out of insurance and paying for medical care in cash. While this approach may seem appealing, experts warn that it can be a risky and potentially costly decision. Some hospitals and clinics offer self-pay or cash-only discounts for patients who pay without insurance, but these discounts may not always be the best option. For example, an allergy test or X-ray may be a few hundred dollars cheaper when paid...
Madras High Court permits construction of metro station within temple premises, safeguards Rs 250 crore public building.
The Madras High Court has overturned the Chennai Metro Rail Limited's (CMRL) decision to acquire a portion of land belonging to United India Insurance Company for the construction of the Thousand Lights Metro Station. The court ruled that the decision to alter the station's location, which was originally planned within the premises of a nearby temple, was taken without consulting the insurance company and violated the principles of promissory estoppel and natural justice. The CMRL had issued a...
Average cost of a honeymoon reaches £4,550 per couple, while popularity of minimoons rises
A recent survey conducted by Aviva has revealed that over a third of Brits (37%) have either traveled or plan to travel abroad for their honeymoons, with an average spend of £4,550 per couple. Additionally, 6% of couples plan to go on both a minimoon and a honeymoon abroad, with an estimated total spend of £8,861. The research also found that one in ten (10%) Brits are planning an overseas wedding, with an average spend of £5,224 per couple. The survey showed that couples who have not yet...
10-30-50 rule explained: Edelweiss CEO Radhika Gupta offers guide to building wealth for young professionals, advises allocating 10% for savings, 30% for discretionary spending, and 50% for necessary expenses, while automating savings and investing smartly.
Radhika Gupta, the MD and CEO of Edelweiss Mutual Fund, has written a book titled "Mango Millionaire" that offers a fresh perspective on saving money. Gupta compares saving to a cricket net practice, where the discipline built at the beginning sets the stage for successful investing later. She introduces the 10-30-50 rule, a step-by-step framework to build lifelong wealth. The rule recommends saving 10% of income in one's twenties, 30% in one's thirties and forties, and 50% after forty. Gupta...
Planning to port your health insurance plan? Be aware of the following challenges:
With the ever-evolving landscape of health insurance in India, many individuals are considering shifting to new health insurance plans for enhanced benefits. The decision to port or migrate a health insurance plan is crucial, and it's essential to understand the differences between the two. Porting refers to shifting to a different plan with a new insurer, while migrating involves moving to a new product with the same insurer. When deciding between porting and migrating, it's crucial to assess...
UIIC AO Exam Date 2024 Out (Revised), Check Administrative Officer Exam Schedule
Physics Wallah is an Indian ed-tech platform that offers comprehensive learning experiences to students from class 6th to postgraduate level. The platform provides extensive resources, including NCERT solutions, sample papers, and previous year papers for NEET, JEE Mains, and BITSAT. With over 3.5 million registered students and 78 lakh+ YouTube subscribers, Physics Wallah has established itself as a leading online education platform. What sets Physics Wallah apart is its commitment to...
SRG’s underwriting arm has secured new capacity from Aviva.
MX, the underwriting arm of Specialist Risk Group (SRG), has secured a multi-year delegated distribution agreement with Aviva to support Trilogy Underwriting. Trilogy Underwriting, which specializes in property and casualty business, was acquired by MX in 2024. This agreement significantly bolsters MX's London market offering, enhancing its products, service, and outcomes for stakeholders. The partnership between MX and Aviva marks a significant milestone for MX, reinforcing its position as a...
Health insurance premiums under the Affordable Care Act (ACA) are expected to increase by 30% in the upcoming year.
The cost of health insurance premiums on Healthcare.gov is expected to rise by an average of 30% next year, affecting approximately 17 million Americans. This increase is attributed to the expiration of enhanced Affordable Care Act (ACA) health insurance subsidies, which were temporarily extended in 2022 during the COVID-19 pandemic. The subsidies, set to end on January 1, have been a point of contention between Democratic and Republican lawmakers. Democrats want to continue the expanded...
Can Insurers Reject Claims for Vehicle Overloading: Punjab State Commission Provides Answer
The Punjab State Consumer Disputes Redressal Commission has partly allowed an appeal filed by a truck owner, Baldev Singh Bhatti, against United India Insurance Company Limited. The appeal was filed after the District Consumer Disputes Redressal Commission, Malerkotla, dismissed the complaint. The truck owner had purchased a Tata Prima LX 3125 K8X4 BS-IV truck, which was insured for an insured declared value of Rs. 35,00,000 under a comprehensive policy. On October 2, 2020, the vehicle...
Average Obamacare premiums are set to increase by 30 percent, according to documents.
According to a report by The Washington Post, average Obamacare premiums are expected to increase by 30 percent. This significant rise in premiums is based on documents that outline the projected costs of healthcare plans under the Affordable Care Act (ACA), also known as Obamacare. The expected 30 percent increase in premiums is a substantial jump, and it may have a considerable impact on individuals and families who rely on Obamacare for their health insurance. The rise in premiums is...
Chola MS and the Central Bank of India have been cleared by the regulator of allegations regarding delayed flood claim payments.
The Competition Commission of India (CCI) has dismissed allegations of anticompetitive practices against Chola MS General Insurance and the Central Bank of India in Chennai. The complaint was filed in relation to a delayed insurance claim from the 2015 Chennai floods, where the complainant alleged that both entities had engaged in anticompetitive agreements and abused dominant positions. However, the CCI found no evidence of Chola MS holding a dominant market position in the competitive...
Aviva’s digital transformation has resulted in lower customer premiums.
A recent survey by GlobalData found that price and speed of response are key factors for insurance brokers when choosing which insurer to place business with. The 2025 UK Commercial Insurance Broker Survey revealed that 28.4% of respondents considered price or premiums to be the most important factor, while 8.8% prioritized the speed of response to queries or quotes. This highlights the need for insurers to balance competitive pricing with operational efficiency and responsiveness. The...
A look back at his journey through the lens of advertisements
Bollywood actor Vikrant Massey has announced his retirement from acting, surprising his fans and the entertainment industry. The actor, known for his roles in films and television shows, has also made a name for himself in the advertising world. With a relatable persona, Massey has become a popular choice for brands targeting younger, urban demographics. He has collaborated with numerous brands, including InDrive, mCaffeine, Aditya Birla Health Insurance, Man Matters, and Cornetto India, among...
NIACL AO result 2025 has been announced and is available at newindia.co.in, with a direct link provided for access.
The New India Assurance Company Limited (NIACL) has announced the results of the Administrative Officers (Generalists and Specialists) (Scale-I) posts for the year 2025. Candidates who appeared for the Phase-I online examination, which was conducted on September 14, 2025, can now check their results on the official website, newindia.co.in. The recruitment drive aims to fill 550 Assistant Officer posts. The shortlisted candidates who have cleared the Phase-I examination will now have to appear...
A health insurance company has denied a cashless claim of Rs 61 lakh despite the policyholder having a cover of Rs 2.40 crore, sparking outrage online after a viral LinkedIn post.
A recent LinkedIn post by Avigyan Mitra, a health insurance and investments advisor, has sparked significant online debate. The post alleges that Niva Bupa Health Insurance denied a cashless claim of Rs 61 lakh for his father's hospitalization, despite having a policy worth Rs 2.40 crore. Mitra's father was admitted to the hospital in July for a bone marrow transplant to treat myeloid leukemia. However, the insurance company denied the claim, prompting Mitra to express his frustration and...
Democrats’ health care demands are at the center of the government shutdown.
The US government has shut down due to a disagreement between Democratic and Republican lawmakers over healthcare demands. At the center of the issue are tax credits that have made health insurance more affordable for millions of people since the COVID-19 pandemic. These subsidies, which were first put in place in 2021 and extended a year later, are set to expire at the end of the year if Congress doesn't extend them. Democrats are demanding that the subsidies be extended again, as well as...
Income Protection Insurance Market – Key Players:1. Aviva 2. AXA 3. Zurich 4. MetLife 5. Prudential 6. Allianz 7. AIG 8. Lloyds Banking Group 9. Royal London 10. LV=
The Income Protection Insurance market is expected to experience significant growth, with a projected revenue of USD 35.1 billion by 2033, growing at a CAGR of 5.5% from 2026 to 2033. The market's growth is driven by increasing awareness of financial security, rising health-related uncertainties, and expanding working populations, especially in emerging economies. Economic factors such as rising disposable income and urbanization also contribute to the market's expansion. The demand for income...
Gallagher has created India’s first pandemic insurance, which utilizes parametric triggers. This insurance was launched by New India Assurance and is reinsured by Munich Re.
The Phoenix Mills Ltd, a leading Indian company, has become the first insured in the country to be covered against business interruption losses due to pandemic or epidemic outbreaks. The policy, which includes loss of revenue and additional expenses, is based on parametric triggers and empowers the company's various business verticals to maintain operational continuity and financial stability in the face of any unforeseen global health crises. The company's experience during the last pandemic,...
Insurance Guide for CNG & LPG-Converted Cars 2025
The Insurance Guide for CNG & LPG-Converted Cars 2025 provides essential information for drivers who have installed compressed natural gas or liquid petroleum gas kits in their vehicles. With the rising number of gas-powered conversions, it's crucial for owners to understand the implications on their vehicle insurance. In 2024, the number of registered gas-powered passenger cars increased by 46% yearly, and the market for cleaner energy is expected to reach USD 101 billion by 2032. To ensure...
International students are calling on the Manitoba NDP to fulfill their promise regarding healthcare.
A group of international students held a rally in Winnipeg, Manitoba, to urge Premier Wab Kinew to fulfill his promise to restore their health-care coverage. During the 2023 election campaign, Kinew's NDP party pledged to reinstate the coverage, which was rescinded by the Progressive Conservative government in 2018. However, two years later, international students are still not eligible for provincial health insurance and are forced to pay for private insurance that provides limited coverage....
MX enters multi-year distribution deal with Aviva to expand growth
MX is a company that specializes in providing property and casualty insurance solutions to small to medium-sized enterprises (SMEs) and mid-market clients across the UK and Ireland. Their portfolio has been growing, and they offer a wide range of commercial insurance products, including property, liability, motor fleet, and specialist sector coverage. In recent years, MX has expanded its underwriting capacity to meet the increasing demand from brokers for flexible and specialized insurance...
HDFC Life is commemorating 25 years of establishing trust with its customers by branding the Mahalaxmi Metro Station on Mumbai’s Metro Line 3.
HDFC Life, one of India's leading life insurers, has associated itself with the Mahalaxmi metro station in Mumbai as part of its 25-year anniversary celebrations. The company, which started its journey in 2000, has insured millions of policyholders across the country, protecting them financially and enabling them to continue their journey of life with pride. The Mahalaxmi metro station, located near HDFC Life's head office, is set to become a major transit hub on the 33.5 km long Cuffe Parade...
Duck Creek Technologies has been awarded the IDC FinTech Real Results Award for its work in insurance transformation.
Duck Creek Technologies, a global provider of intelligent solutions for the property and casualty insurance industry, has been named a co-winner of the 2025 IDC FinTech Real Results Awards in the Insurance Transformation category. The award recognizes Duck Creek's work with HDFC ERGO General Insurance Company, a leading private sector general insurer in India, in delivering measurable and future-enabling change in the insurance industry. The IDC FinTech Real Results program honors technology...
Aviva has partnered with ICE InsureTech to undergo a digital transformation.
Aviva, a leading insurance provider in the UK, has successfully rolled out a digital insurance platform in partnership with ICE InsureTech. The project, which was completed in just 12 months, aimed to transform Aviva's IT landscape and enable fully digital insurance journeys. The new platform, built using microservices and cloud infrastructure from AWS, allows for white-labelled, omni-channel offerings that can be configured rapidly for different partners. The platform has introduced real-time...
The Halloween season is also accompanied by a frightening increase in insurance claims.
As Halloween approaches, insurers are reminded of the potential risks and damages that can occur during this time. According to Aviva, a prominent insurer, their data highlights a range of malicious damage incidents that take place around Halloween. These incidents can vary in severity, from minor pranks to more serious acts of vandalism and even break-ins. Some examples of the types of damage that can occur include doors being damaged by overzealous trick-or-treaters, broken windows resulting...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct premium underwritten, reaching ₹2,182 crore. Nonetheless, its premiums dropped 12% compared to the previous month. New India Assurance reported an 8.7%...
A health insurance company has been fined Rs 30,000 for wrongly rejecting a medical claim. The insurer has also been ordered to pay Rs 2 lakh to the claimant, along with interest.
The District Consumer Disputes Redressal Commission in Mohali has ruled in favor of a policyholder, Kuldeep Singh Sandhu, who was wrongfully denied a mediclaim by HDFC ERGO Health Insurance Ltd. Sandhu had purchased a group mediclaim policy through Canara Bank, which covered both him and his wife for a sum insured of Rs 5 lakh. In March 2020, Sandhu was admitted to the hospital with symptoms such as vomiting, vertigo, and facial numbness. However, his request for cashless treatment was denied...
A consumer panel in Chandigarh has ordered an insurance company to pay Rs 25 lakh to a policyholder for unjustly denying a claim.
The District Consumer Disputes Redressal Commission-I in Chandigarh has ordered Star Health and Allied Insurance Company to pay Rs 25 lakh to the heirs of a deceased policyholder, Sarita Dutta alias Sarita Sharma, whose medical claim was wrongly repudiated. The policyholder had purchased a health insurance policy from Star Health in 2018 for a sum of Rs 25 lakh, which was renewed annually until 2023. In 2024, she was diagnosed with cancer and underwent medical treatment before passing away on...
A smart way to earn ₹20,000 every month for life
The LIC Jeevan Utsav plan, offered by the Life Insurance Corporation of India, is a retirement plan designed to provide lifelong income after a limited premium-paying term. This innovative policy allows individuals to choose a premium payment period of 5 to 16 years, after which they will receive an annual income of 10% of their sum assured for life, until they turn 100. The annual income is capped at ₹2.5 lakh per year, or approximately ₹20,000 per month. Key highlights of the LIC Jeevan...
Travel medical insurance is a type of insurance that covers unexpected medical expenses while traveling abroad. It is designed to provide financial protection in case of medical emergencies, accidents, or illnesses that may occur during a trip.
Here’s how it typically works:
- Policy purchase: Travelers purchase a travel medical insurance policy before their trip, usually online or through an insurance agent.
- Coverage period: The policy is effective for a specified period, usually starting from the departure date and ending on the return date.
- Medical emergency: If the traveler experiences a medical emergency or becomes ill during the trip, they should seek immediate medical attention.
- Claim submission: The traveler or their representative submits a claim to the insurance company, providing documentation of the medical expenses incurred.
- Claims review: The insurance company reviews the claim to determine if it is eligible for coverage under the policy.
- Reimbursement: If the claim is approved, the insurance company reimburses the traveler for the eligible medical expenses, usually up to the policy’s maximum limit.
Key features of travel medical insurance policies:
- Emergency medical evacuation: Coverage for transportation to a medical facility or back home in case of a serious medical condition.
- Hospital stays: Reimbursement for hospital stays, including room and board, medical procedures, and doctor fees.
- Doctor visits: Coverage for doctor visits, including office visits, prescriptions, and lab tests.
- Pre-existing conditions: Some policies may cover pre-existing medical conditions, but this is not always the case.
- Deductible: The amount the traveler must pay out-of-pocket before the insurance coverage kicks in.
- Maximum limit: The maximum amount the insurance company will pay for medical expenses.
Types of travel medical insurance:
- Single-trip policies: Coverage for a single trip, usually up to 30 days.
- Multi-trip policies: Coverage for multiple trips within a specified period, usually up to 12 months.
- Annual policies: Coverage for an entire year, usually with a maximum number of days per trip.
Who needs travel medical insurance?
- International travelers: Anyone traveling abroad, especially to countries with limited medical facilities or high medical costs.
- Adventure seekers: Travelers engaging in high-risk activities, such as hiking, skiing, or scuba diving.
- Seniors: Older travelers who may be more prone to medical emergencies.
- Families: Families with young children or elderly members who may require medical attention during a trip.
Travel medical insurance is a type of insurance that provides coverage for medical expenses incurred while traveling abroad. It is designed to protect travelers from financial losses due to unexpected medical emergencies or accidents that may occur during their trip. When purchasing travel medical insurance, it's essential to understand how it works. Typically, the insurance provider will require some basic information, such as the traveler's age, health status, and travel plans. The insurance...
Aviva Canada’s new CEO is optimistic about the company’s performance for the full year 2025, despite anticipating challenges related to weather and regulatory issues.
Aviva Canada's new CEO is expressing optimism about the company's prospects for the full year 2025, despite facing challenges related to weather and regulatory issues. The insurance industry in Canada has been impacted by severe weather events, which have resulted in significant claims and losses for insurers. Additionally, regulatory changes and scrutiny have added to the challenges faced by insurance companies. However, Aviva Canada's CEO remains bullish on the company's ability to navigate...
New India Assurance Co. Ltd., Oman Receives Times of Oman Best Brand in Customer Experience Award
New India Assurance Co. Ltd., Oman, has been awarded the prestigious Times of Oman Best Brand in Customer Experience Award in the insurance category at the Oman CX Awards 2025. This award recognizes the company's commitment to delivering exceptional service and customer satisfaction across the Sultanate. The award ceremony was attended by prominent figures, including His Highness Sayyid Mohammed Bin Salem Al Said and Mr. Ahmed Essa Al Zadjali, CEO of Muscat Media Group. Mr. Majid Abdul Rahim...
FSIB recommends R. Chander for MD’s position in LIC
The Financial Services Institutions Bureau (FSIB) has announced its recommendation for the position of Managing Director at the Life Insurance Corporation of India (LIC). After interacting with five candidates from LIC on September 30, 2025, the Bureau has selected R. Chander for the role. The decision was based on the candidates' performance during the interface, as well as their overall experience and relevant parameters. R. Chander, currently the Chief Investment Officer and Executive...
Edelweiss Financial Services Limited announces ₹3000 million public issue of secured redeemable non-convertible debentures (NCDs)
Edelweiss Financial Services Limited (EFSL) has announced a public issue of secured redeemable non-convertible debentures (NCDs) with a face value of ₹1,000 each. The issue has a base size of ₹1,500 million and a green shoe option of up to ₹1,500 million, aggregating to ₹3,000 million. The NCDs have a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options. The effective annual interest yield on the NCDs ranges from 9.00% p.a. to 10.25%...
A mountain of transgressions and shattered vows
The article discusses the breach of trust by the Life Insurance Corporation of India (LIC), the country's largest insurer, with its customers. The concept of "uberrima fides" or utmost good faith is a fundamental principle in insurance, which demands complete honesty from both parties. However, LIC has consistently violated this principle by delaying payouts, repudiating claims, and hiding behind technicalities. The article highlights several issues with LIC's practices, including outdated...
First-time health insurance buyer? Here are 7 smart tips to choose the right policy and avoid costly regrets:
- Assess Your Needs: Evaluate your health requirements, age, and pre-existing conditions to determine the type of coverage you need.
- Research and Compare: Look up different insurance providers, their policies, and coverage options to find the best fit for you.
- Understand Policy Terms: Read and comprehend the policy documents, including the fine print, to avoid surprises later.
- Check Network Providers: Ensure the policy covers your preferred hospitals, doctors, and medical facilities.
- Claim Settlement Ratio: Choose an insurer with a high claim settlement ratio to ensure hassle-free claims.
- Premium and Add-ons: Calculate the premium and consider add-ons, such as critical illness cover or maternity benefits, if required.
- Seek Professional Advice: Consult with an insurance expert or agent to guide you through the process and help you make an informed decision.
When selecting a health insurance policy, it's crucial to consider several key factors to ensure you choose a comprehensive and reliable plan. A single medical emergency can be financially devastating, making it essential to have a solid health insurance policy in place. Here are seven key factors to keep in mind when comparing health insurance policies: Incurred Claim Ratio (ICR): This ratio indicates the percentage of claims paid out by the insurance company compared to the net premiums...
LIC Schemes: LIC has introduced two new plans, offering potentially high returns.
The Life Insurance Corporation of India (LIC) has introduced two new insurance products, LIC Jan Suraksha and LIC Bima Lakshmi, which will be available for sale starting October 15. Both schemes are non-linked and non-participating, meaning they are not affected by market fluctuations, ensuring a safe investment. These products cater to different individual needs and are designed with the domestic market in mind. LIC Jan Suraksha is specifically designed for low-income individuals, offering...
The Supreme Court has dismissed an appeal by claimants in a motor accident case where the victim died due to a heart attack 5 months after the accident.
The Supreme Court of India has dismissed an appeal filed by the claimants in a motor accident case where the victim died five months after the accident due to a heart attack. The Court held that the death could have been a result of the surgery, given the medical parameters of the patient, and not directly related to the accident. The appeal was filed by the wife, minor child, and mother of the deceased, an Excise Guard, who died after a motorcycle accident in 2006. The accident occurred when...
The Regulation of Private Health Insurance
Private health insurance is regulated by a combination of federal and state laws. The primary federal law governing private health insurance is the Employee Retirement Income Security Act of 1974 (ERISA), which regulates employer-sponsored health plans. Other key laws include the Health Insurance Portability and Accountability Act of 1996 (HIPAA), the Affordable Care Act (ACA), and the Medicare Prescription Drug, Improvement, and Modernization Act of 2003.
State laws and regulations also play a significant role in regulating private health insurance. States have the authority to regulate insurance companies, set standards for health insurance policies, and oversee the marketing and sales of health insurance products. State insurance departments are responsible for enforcing state laws and regulations, as well as investigating consumer complaints.
The National Association of Insurance Commissioners (NAIC) provides a framework for state insurance regulation, and many states have adopted model laws and regulations developed by the NAIC. The ACA has also imposed new requirements on private health insurance, including the prohibition on pre-existing condition exclusions, guaranteed issue, and minimum essential coverage requirements.
Regulatory agencies, such as the Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS), oversee the implementation of federal laws and regulations related to private health insurance. These agencies work with state regulators to ensure compliance with federal and state laws, and to protect consumers from unfair or deceptive practices.
Key aspects of private health insurance regulation include:
- Policy Standards: Regulations require health insurance policies to meet certain standards, such as covering essential health benefits and providing a minimum level of coverage.
- Rate Review: States review insurance rate increases to ensure they are reasonable and not excessive.
- Financial Solvency: Insurance companies must maintain sufficient financial reserves to pay claims and meet other financial obligations.
- Consumer Protections: Laws and regulations protect consumers from unfair or deceptive practices, such as denial of claims or cancellation of coverage.
- Market Conduct: Regulations govern the marketing and sales of health insurance products, including requirements for transparency and disclosure.
Overall, the regulation of private health insurance is a complex and evolving area, with multiple stakeholders and regulatory agencies working to ensure that consumers have access to affordable, high-quality health insurance.
The scope of federal regulation affecting private health coverage has increased significantly since the passage of the Affordable Care Act (ACA) in 2010. The ACA introduced a range of new provisions and requirements for insurers, employer-sponsored plans, and providers, with the goal of expanding health coverage to more individuals and improving the overall quality of care. However, the law has also been the subject of ongoing debate and litigation, with efforts to repeal and replace it, as...
HDFC ERGO has partnered with Consumr.ai to enhance its customer intelligence capabilities.
Consumr.ai, a leading customer intelligence platform in India, has been selected by HDFC ERGO to pilot a proof-of-concept (POC) aimed at transforming the insurance customer journey. The POC will utilize Consumr.ai's proprietary AI Twins technology, which creates virtual representations of consumer cohorts based on real behavioral data. This technology enables always-on, consumer-informed decision-making, allowing HDFC ERGO to place customers at the center of every marketing, creative, and...
Five things to know about expiring federal health care subsidies:
- Expiration Date: The enhanced federal health care subsidies, which were introduced as part of the American Rescue Plan Act (ARPA) in 2021, are set to expire at the end of 2025 unless extended by Congress.
- Impact on Consumers: If the subsidies expire, millions of Americans who receive financial assistance to purchase health insurance through the Affordable Care Act (ACA) marketplaces will face significant increases in their premiums, making health care less affordable for many.
- Subsidy Eligibility: The ARPA subsidies expanded eligibility for financial assistance to more people, including those with higher incomes, and increased the amount of assistance available to those who were already eligible. If the subsidies expire, these individuals and families may no longer be eligible for the same level of financial assistance.
- Potential Consequences: The expiration of the subsidies could lead to a decrease in health insurance enrollment, as some people may no longer be able to afford coverage. This could have negative consequences for the overall health and well-being of affected individuals, as well as the stability of the health insurance market.
- Legislative Uncertainty: The future of the federal health care subsidies is uncertain, as Congress has not yet acted to extend or make permanent the enhanced subsidies. Lawmakers are debating various proposals to address the issue, but it is unclear what action, if any, will be taken before the subsidies expire.
As the COVID-19 pandemic continues to evolve, many individuals and families who received federal health care subsidies during the public health emergency are facing a critical deadline. The enhanced subsidies, which were introduced as part of the American Rescue Plan Act (ARPA), are set to expire at the end of 2022. Here are five key things to know about the expiring federal health care subsidies: Temporary subsidies: The ARPA subsidies were designed to be temporary, providing financial...
Tributes have been paid to former Aviva CEO David Barral following his death in a fatal crash.
David Barral, the former chief executive of Aviva UK and Ireland, has died in a car accident near Leeds at the age of 63. Barral was driving his Aston Martin DBX when it collided with a tree and caught fire on the A58 Leeds Road. Despite the efforts of emergency crews, he was pronounced dead at the scene. The news of his death has been met with an outpouring of tributes from the financial services industry, where he was widely respected and admired. Barral began his insurance career at Norwich...
Quant Mutual Fund, Edelweiss Mutual Fund, and SBI Mutual Fund have introduced specialized investment funds, which are designed to cater to specific investment objectives and strategies.These funds are tailored to meet the unique needs of investors, offering exposure to particular asset classes, sectors, or themes. Investors should carefully evaluate the features, benefits, and risks associated with these funds before investing.Key aspects to consider include the fund’s investment objective, asset allocation, risk profile, and fees associated with the investment. It is essential for investors to assess their own financial goals, risk tolerance, and investment horizon to determine if these specialized funds align with their overall investment strategy.Investors should also review the fund’s historical performance, management team, and investment process to make an informed decision. Additionally, understanding the tax implications and any potential exit loads is crucial to avoid any unexpected surprises.Ultimately, investors should consult with a financial advisor or conduct their own research to determine if these specialized investment funds are suitable for their investment portfolio and goals.
The Securities and Exchange Board of India (SEBI) has recently cleared Specialised Investment Funds (SIFs) for affluent investors seeking strategies beyond traditional equity and debt. SIFs are being launched by leading asset managers under separate branding across equity, debt, and hybrid categories. Quant Mutual Fund was the first to launch a SIF in September 2025, followed by Edelweiss and SBI Mutual Fund on October 1. SIFs differ from other products in that they allow participation with a...
Obamacare prices have been made public in a dozen states, revealing higher costs.
Higher Obamacare prices have become public in a dozen states, according to a recent report by The New York Times. The increased prices are a result of various factors, including rising healthcare costs, changes in the insurance market, and the ongoing COVID-19 pandemic. The price hikes are expected to affect millions of Americans who rely on the Affordable Care Act (ACA), also known as Obamacare, for their health insurance. In the dozen states where the new prices have been made public, the...
FM asks state-run general insurers to develop innovative products
Finance Minister Nirmala Sitharaman recently reviewed the performance of public sector general insurance companies (PSGICs) and emphasized the need for innovative insurance products tailored to emerging risks. The meeting, attended by top officials from the finance ministry and PSGICs, discussed key performance indicators such as premium collections, insurance penetration, and density. Sitharaman directed the companies to develop products that address new risks, including cyber fraud, and to...
Earn a monthly pension of up to ₹44,000.
The Life Insurance Corporation (LIC) of India has introduced the Smart Pension Plan 2025, a retirement planning solution that provides a guaranteed monthly income for life in exchange for a one-time lump sum investment. This non-linked, non-participating annuity plan is available for a minimum investment of ₹1 lakh. The plan's payout structure is such that an investment of ₹10 lakh yields approximately ₹6,000 per month, while a larger investment of ₹50 lakh can result in a monthly pension of...
ICICI Prudential AMC is set to acquire the Alternative Investment Fund (AIF) and advisory units of ICICI Venture.
ICICI Prudential Asset Management Company Limited (ICICI Prudential AMC) is seeking approval from the Competition Commission of India (CCI) to acquire the Alternative Investment Fund (AIF) management and advisory businesses of ICICI Venture Funds Management Company Limited. This move is part of ICICI Prudential AMC's strategy to consolidate and expand its presence in India's alternative investment domain. The proposed acquisition includes the investment management business, which manages five...