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INSURANCE MIS SELLING
RBI puts curbs on banks' sale of third-party productsThe Reserve Bank of India has prohibited third-party incentives to employees of regulated entities, while allowing banks and NBFCs to rewar...- 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 works only when everyone contributesA small group of health insurance customers accounts for most hospitalisation costs. The remaining 95% must pay premiums to keep the system...
- SBI employees' federation stages dharna in Kolkata, plans nationwide strike on May 25-26State Bank of India Staff Federation protested in Kolkata demanding recruitment and an end to mis-selling insurance. Employees will strike ...
- Zerodha’s Nithin Kamath flags ULIP, endowment traps; says health policies remain complexNithin Kamath highlights persistent personal finance blunders by Indians, particularly the continued uptake of ULIPs and endowment plans de...
- IRDAI misses to measure average sum assured per policyholder in its annual reportWhen IRDAI defines success as premium collected, and the industry maximises commissions by selling products that collect maximum premium pe...
- Belgian insurer Ageas eyes India growth, explores acquisitions for expansionBelgium's Ageas Group is prioritizing India's growth, aiming to break into the top 10 insurers in both life and non-life segments. The comp...
- Insurance policy mis-selling trap: Over 80% of users on online insurance platforms experience dark patterns, reveals studyFrom 1 July, stricter norms issued by the Reserve Bank of India will come into force against banks’ mis-selling of financial products, incl...
- Mis-selling an offence under Bharatiya Nyaya Sanhita, banks should concentrate on core business: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman strongly condemned banks for mis-selling financial products. She highlighted that this practice is now ...
- Insurance mis-selling in India: How banks and agents push mis-sold policiesFinancial year-end targets fuel aggressive sales tactics in insurance. Customers are being sold policies they do not need, often through co...
- 5 common mis-selling traps: How banks profit at your expense and how to fight backMis-selling of financial products in India is rampant, with customers often misled by agents and relationship managers pushing unsuitable p...
- 5 ways you can identify and avoid investment misselling
- Housing financiers pulled up again for insurance 'mis-selling'The National Housing Bank has instructed home financiers to cease mis-selling bundled insurance policies with housing loans. NHB mandates e...
- Bancassurance useful, curb mis-selling: IRDAI ChiefIndia's insurance regulator, IRDAI, urged banks to address concerns regarding mis-selling of insurance products through their channels. Thi...
- Dropping out of insurance policy? It’s set to pinch lessIrdai has proposed new rules to protect policyholders’ interests under which insurance companies will have to substantially increase the am...
- Banks will now be penalised for mis-selling insuranceIrdai to hold banks accountable for investment advice they provide as complaints about mis-selling rise.
- Mis-selling may impact insurance valuation: Sanket Kawatkar, MillimanA report by Milliman noted that the joint venture structure is a stumbling block for partners to arrive at a consensus on valuation.
- How not to fall prey to mis-sellingConsumers can deal with mis-selling by preventing it right at the purchase stage and, if the policy has been bought, by taking action again...
- Don't mis-sell insurance: Chidambaram tells insurersP Chidambaram today asked the insurance companies to refrain from mis-selling and devise simple products for people to boost growth in the ...
- Beware of insurance mis-selling at banksMis-selling of insurance products is occurring at some private sector banks.
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