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PREVENTING INSURANCE MISSELLING
Misselling misunderstood: The regulator’s proposal is tantamount to addressing the symptom, while ignoring the causeIn FY25, the Indian insurance sector experienced significant premium growth while maintaining flat penetration rates. However, complaints r...- 58% surges in Insurance Ombudsman cases: 4 reforms to fix the backlog before it breaksThe Insurance Ombudsman serves as a guardian of trust for the industry and has resolved thousands of disputes for policyholders. But a grow...
- RBI may frame rules to curb mis-selling by banks: Dy guv M Rajeshwar RaoSpeaking at an event on financial inclusion, Rao raised concerns about the persistent challenges the microfinance sector faces, including a...
- National Housing Bank steps up surprise checks to gauge housing finance companies' healthThe National Housing Bank is conducting surprise inspections of mortgage financiers following fraud at Aviom Housing Finance. The focus is ...
- Will you soon get 1 year to cancel your life insurance policy instead of the current 30 days? Sounds good, but there’s a catchFinance Minister Nirmala Sitharaman has suggested extending the free-look period for insurance policies from 30 days to a full year to prev...
- You know your investment risk profile best: Here's whyRisk profile is a generalisation of the investor’s preferences. It is efficient for the seller, adviser and distributor. But it does not ab...
- What to do when you know you have been fooled?Experience is the mistress of fools. However, a little bit of alertness can save you from the heartbreak of learning through folly alone.
- Will colour-coded health insurance policies ease buying for customers?All individual health plans will be allotted three colours— green, orange and red—to indicate the level of complexity of the product. The c...
- IRDAI notifies wellness benefit rules for life, health insurers: Here's what policyholders should knowThere shall be no discrimination in providing any of the wellness and preventive features offered and in granting the reward points thereun...
- Retirement planning: How to maximise returns from EPF, NPS investmentsIn the dynamic retirement landscape, EPF and NPS are critical pillars of your retirement planning.
- Kill these 10 financial evils this festive seasonThese 10 financial habits are eroding your wealth. Here's how you can get rid of them.
- IRDAI issues new norms for mediclaim policiesMisselling is a huge problem for the insurance industry as, of 1.72 lakh complaints in 2016-17, about 50 per cent related to unfair busines...
- Saying no to mutual funds in financial inclusion, masses exposed to worse riskIt is essential that the mutual fund industry gets a level-playing field, at par with other financial products. For this, tax discriminatio...
- Plug loophole leading to misselling of insurance products or else face penalty: RBI to banksAt present, BCSBI -- a quasi-regulatory body -- has set a limit of Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce...
- Reserve Bank India caps customer liability in fraudulent dealsBCSBI —a quasi-re Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce transactions, provided the customer has notified...
- Understand policy features before buying insurance to avoid disputeGoing through a life insurance policy document is a tedious task for many individuals.Understanding the complicated terms and conditions of...
- Why you can't trust agents and salesmen while buying an insurance policyThough insurance policies are the most widely mis-sold products, banks, mutual funds and credit card issuers also try to trap customers wit...
- Time to reform UlipsGovt's final verdict that Irda, and not Sebi, will oversee Ulips is welcome.
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