Searched for
LIFE INSURANCE REPUDIATION
LIC rejects five life insurance claims saying policyholder hid diabetes: Court finds disease diagnosed only after buying the policies; orders over Rs 60 lakh payoutLIC rejects five life insurance claims saying policyholder hid diabetes: The National Consumer Disputes Redressal Commission has ordered LI...- HDFC Life rejects Rs 50 lakh insurance claim over two existing policies: Widow wins after court finds the proposal form never asked about other insurers; full payout orderedHDFC Life rejects Rs 50 lakh insurance claim over two existing policies: A Kurnool consumer commission has ordered HDFC Life Insurance to p...
- 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...
- 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...
- NCDRC directs IRDA to look into role of agents selling life insurance policiesThe NCDRC was hearing an appeal filed by HDFC Standard Life lnsurance Company Limited challenging an order of the state consumer disputes r...
- 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...
- Latest life insurance claim settlement ratio of companies in 2021A life insurance company may have a higher percentage of claim settlement by number of policies but a lower percentage when it comes to pay...
- 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...
- IRDAI annual report: LIC's claim settlement ratio deteriorated in FY20 to 96.6%The life insurance industry in total paid 8.46 lakh claims on individual policies, with a total payout of Rs 18042 crore in the FY20, data ...
- How the 3-year clause impacts life insurance claimsRegardless of whether a claim has arisen or not and when it is intimated, once the period of 3 years is over, the policy cannot be called i...
- 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.
- 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.
- IRDA slaps fine of Rs 3.10 crore on Bajaj Allianz LifeIRDA imposed a hefty penalty of Rs 3.10 crore on Bajaj Allianz Life Insurance for violation of various norms, including those related to ea...
- Insurers must prove fraud to nix claims: Kerala High CourtThe burden of proof for repudiating insurance claims on the ground of misstatement of material facts is upon the insurance companies.
- 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...
Load More
