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LIFE INSURANCE CLAIM SETTLEMENT RATIO
Life insurer denied Rs 1 crore death claim over earlier policy postponement on medical grounds; here's why family wins in state commissionA life insurance claim was rejected due to alleged non-disclosure of a prior proposal. The insurer failed to prove the policyholder knowing...- In 1974, a Vietnam veteran moved to Alaska for a new life. 14 years later, he became the last person in US history to get a homestead patentKenneth Deardorff, a Vietnam veteran from California, moved to remote Alaska in 1974 and filed a homestead claim along the Stony River. Aft...
- Insurer rejected Rs 50 lakh claim after man’s death; consumer panel finds insurer at fault, orders full payout with 6% interestInsurer rejected Rs 50 lakh claim after man’s death: A consumer commission has directed Cigna TTK to pay Rs 50 lakh after finding that the ...
- GIC Re reports 9.7% profit jump to Rs 1,922 crore driven by improved claims and underwritingGeneral Insurance Corporation of India has announced a notable profit increase of 9.7 percent, attributed to enhanced performance in claims...
- Corporate cover rates decline amid ample capacityInsurance rates for fire, cyber, professional indemnity and directors’ liability fell sharply in the June quarter as abundant capacity inte...
- Cyber risks, EV batteries, breakdowns and more covered by this new motor insurance policy; check what all it offersMotor insurance is undergoing a transformation! Bajaj General Insurance introduces ProShield, specifically designed for defence personnel t...
- 15% lifetime premium discount and pregnancy break for women; check what all this women-centric new term plan offersICICI Prudential Life Insurance has unveiled the ICICI Pru iProtect Smart Her, a dedicated term plan tailored for women. This plan features...
- Supreme Court rulings set to raise insurers' third-party liabilityGeneral insurers face higher motor third-party claim reserves due to Supreme Court rulings. A recent ruling fixes homemakers' notional inco...
- India plans insurance reforms to rein in healthcare costs, sources sayIndia is considering sweeping health insurance reforms to standardise treatment rates, coverage and billing, while expanding a nationwide c...
- SC ruling may widen motor insurance cover for vehicle occupants, pillion ridersMotor insurance policyholders will receive broader occupant protection following a Supreme Court ruling. The court directed the insurance r...
- Insurer-hospital panel on the cards to resolve disputes, says General Insurance Council CEODr S. Prakash, CEO, Health Insurance Ecosystem & Strategic Partnerships, General Insurance Council, speaks to Preeti Kulkarni on policyhold...
- Group term life: Why salary-linked insurance cover can matter after death and offer critical financial support to familyThe objective of life insurance is to provide a replacement income to the dependents of the deceased employee. That is why it is important ...
- LIC weighing plans to invest in health insurance, fintech: R Doraiswamy, CEO, LICLIC said the government’s ₹31,552-crore offer for sale reflects investor confidence and helped achieve 10% public shareholding. The insurer...
- Canada Class Action Lawsuit: $8.7 million settlement offers eligible Canadians up to $5,000 - Check who qualifies and how to claim compensationA court in Canada has given the green light for an $8.7 million settlement arising from a privacy breach that occurred in 2020. Canadians w...
- LIC Q1 Results: Profit rises 23% YoY to Rs 13,492 crore, NPI up 7%LIC Q1 Results: India's leading insurer Life Insurance Corp (LIC) on Thursday reported a 23% year-on-year (YoY) growth in its standalone ne...
- IRDAI asks insurers to fast-track Assam flood claimsInsurers must expedite flood claim settlements for affected policyholders. The regulator has directed immediate deployment of surveyors and...
- Life insurer rejected Rs 70 lakh death claim, but consumer commission ordered it to refund Rs 7 lakh premium despite a lapsed policy; here's whyA life insurer denied a seventy lakh death claim after a policy lapsed. The policyholder had paid seven lakh as the first year premium. The...
- LIC rejects claim saying past typhoid, jaundice were not disclosed: Court says the illnesses have no link to sudden heart attack that killed the policyholder; orders insurer to pay over Rs 10 lakhLIC rejects insurance claim saying policyholder hid illnesses: LIC rejected a death claim filed by a Guntur widow, arguing her husband had ...
- Star Health Insurance Q1 Results: Profit jumps 25% to Rs 550 croreStar Health reported a twenty-five percent net profit increase for the first quarter. Total income rose to Rs 4,471 crore from Rs 3,990 cro...
- 5 critical checks before buying health insurance policy to avoid claim rejectionsChoosing health insurance requires careful consideration of several important factors. Opting for a policy simply because it has a low prem...
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