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INSURANCE CLAIM REPUDIATION
Tata AIG rejects mediclaim saying policyholder hid a disease: Court says 'insurance companies are only interested in premiums'; orders insurer to pay over Rs 60KTata AIG ordered compensation: A consumer court in Haryana has directed Tata AIG to pay a policyholder after finding the insurer wrongly re...- Bajaj Allianz rejects car insurance claim saying damage didn't match owner's story: Court orders Rs 20 lakh compensation under the policyBajaj Allianz General Insurance rejected a Punjab man's Rs 20 lakh claim after his BMW was totalled in a road accident involving stray catt...
- Insurance CEOs’ pay now linked to claims and customer grievances: What it means for policyholdersInsurance CEOs’ remuneration will now partly depend on how well they treat policyholders, from settling claims to resolving complaints. A t...
- Health insurance company denies claim over father’s alleged alcohol history; son fights back and wins Rs 6 lakhA software engineer's father's health insurance claim was denied by HDFC ERGO due to an alleged alcohol history. The insurer repudiated the...
- Claim settlement and grievance redressal related performance will determine the incentives of top executives of insurance companies: IRDAIn a significant policyholder-centric move, IRDAI has linked insurance executive pay to customer-centric metrics like claim settlement and ...
- Insurer denies Rs 20 lakh life insurance claim over diabetes non-disclosure; woman fights back and wins; here’s whyA Delhi woman's Rs 20 lakh life insurance claim, denied due to alleged non-disclosure of diabetes and kidney diseases, was upheld by the St...
- Missed insurance claim submission deadline? Don't worry, you are still eligible for reimbursement. Here's whyA Bombay High Court ruling favored policyholders, stating insurers cannot reject claims solely for delayed document submission beyond the 9...
- Insurers asked to not give misleading ads on claim settlementThe Insurance Regulatory and Development Authority of India (Irdai) said it has observed "with serious concern" a surge in advertisements a...
- Latest life insurance claim settlement ratio of companies in 2022The claim settlement ratio of LIC was 98.62 per cent as at March 31, 2021 compared to 96.69 per cent as at March 31, 2020 and the proportio...
- Insurer can't repudiate claim by citing existing medical condition: SCThe proposer is presumed to know all the facts and circumstances concerning the proposed insurance, it added. While the proposer can only d...
- Irdai asks insures to be more transparent in health insurance claims settlement, specify reasons of denial"All the insurers shall ensure putting in place systems to enable policyholders track the status of cashless requests/claims filed with the...
- Non-disclosure of other insurance policies not fraudulent concealment: NCDRCNational Consumer Disputes Redressal Commission has upheld that non-disclosure of other insurance policies cannot be considered as fraudule...
- Private sector shows improvement in settling claims: IRDAI reportIn 2016-17 the claim settlement ratio of LIC was 98.31% while for the private insurers, settlement ratio had gone up by 2.24% at 93.72%.
- LIC paid more in settling claims than pvt peersThe claims-to-settlement ratio for LIC was at 98.31 per cent, recording a marginal improvement.
- Unlocked car no grounds to reject theft claim, insurer made to payThe insurer rejected a car theft claim on the grounds that the driver left the vehicle unlocked. The consumer forum ordered it to pay Rs 5....
- New India Assurance tops in claims settlement ratioThe ratio represents the number of claims settled during a period out of the total claims intimated and is an important indicator of custom...
- Private life insurers rejected one out of five claims in FY 14Life insurance companies settled 8.56 lakh claims on individual policies with a total payout of Rs 10,860 crore during the fiscal.
- Pvt insurers like Aviva and Birla Sun Life rejected more death claims than LIC in FY13Rejection is high because of frauds from semi-urban and urban areas,” TR Ramachandran, MD and CEO of Aviva Life Insurance, said.
- LIC lays claim to no.1 spot in settlementsLife Insurance Corporation remained well ahead of private rivals in living up to the purpose of insurance by settling 97.03% of claims in 2...
- LIC performs better than private life insurance cos in settling claims: IRDAThe Insurance Regulatory and Development Authority has said that the Life Insurance Corporation of India has performed better in terms of c...
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