INSURANCE


Moneylife Digital Team 02 May 2025
The national consumer disputes redressal commission (NCDRC) has upheld an order directing the State Bank of Travancore (SBT), now State Bank of India (SBI), to refund the outstanding loan amount and pay compensation to the widow of a deceased home loan borrower, holding the bank accountable for...

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Sponsored Post 29 April 2025
Yes, having a personalised investment strategy is crucial. One that fits your income, your goals and how much risk you are comfortable taking. But in all the talk of returns and asset allocation, one piece often gets left out — protection.   A term insurance plan may not seem like an...

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A major fire insurance claim dispute involving Oriental Insurance Company Ltd led to a series of right to information (RTI) applications, in which the applicant requested information pertaining to his factory that was gutted and subsequently filed a complaint with the central information...

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Sponsored Post 14 April 2025
Most people consider Life Insurance primarily as a tax-saving tool. While it does offer tax benefits, its true value lies much deeper. With Term Insurance plans, you gain more than just financial relief—you secure peace of mind, long-term financial stability, and the assurance of a protected...

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Sponsored Post 14 April 2025
Life insurance plays a crucial role in financial planning, ensuring financial security and stability for individuals and their families. It is a strategic tool that provides a safety net in case of unforeseen circumstances. Understanding the key benefits of life insurance helps individuals make...

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Sahyaja MS (Bar  and   Bench) 04 April 2025
The Bombay High Court on Friday ruled that amounts received by a claimant under a mediclaim policy or medical insurance policy cannot be deducted from the compensation awarded under the Motor Vehicles Act (MV Act). (The New India Assurance Co. Ltd v Dolly Gandhi)   A three-judge bench of...

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Health insurance is something we all recognise as necessary, but few of us truly understand its complexities. Given its cost, one would expect transparency; yet, policies remain opaque. Most people buy insurance based on recommendations, the premium amount, or what an agent tells them—often...

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Moneylife Digital Team 25 March 2025
Shares of Star Health and Allied Insurance Company Ltd hit their 52-week low at Rs345.45 on Tuesday following a report about the Insurance Regulatory and Development Authority of India (IRDAI) likely to take action against the insurer for serious lapses in claims settlement...

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Moneylife Digital Team 18 March 2025
Bajaj Finserv Ltd decided to buy the entire 26% stake of Allianz SE of Germany in the Bajaj group's insurance joint ventures (JVs), Bajaj Allianz General Insurance Company Ltd (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC). Bajaj Finserv is paying Rs24,180 crore to Allianz for the 26%...

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Moneylife Digital Team 17 March 2025
In a landmark development for India's insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has granted a certificate of registration to Valueattics Reinsurance, marking the end of General Insurance Corporation of India's (GIC Re) five-decade monopoly in the...

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The corporate boards in the recent weeks are feeling nervous where no goods and services tax (GST) demand of any substantial sum has been received by the company!    GST demand is an affirmation that an entity is carrying on a bona fide business, that it is not a zombie or a fake, like,...

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Meera Emmanuel (Bar  and   Bench) 05 March 2025
The Karnataka High Court recently called for making laws simpler, while deciding on whether an insurance policy holder's legal heirs can be excluded from claiming insurance benefits if others have been named nominees for the insurance policy (Neelavva @ Neelamma v. Chandravva @ Chandrakala @...

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Sponsored Post 03 March 2025
Unit-Linked Insurance Plans (ULIPs) have become quite popular in the past few years as they give both insurance coverage and investment. There may come a time in your life, however, when it might be best for your financial goals to consider the option of surrendering the ULIP plan. This guide...

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Moneylife Digital Team 28 February 2025
India's insurance sector is bracing for a protracted legal confrontation with tax authorities after the goods and services tax (GST) adjudicating authority (AA) recently confirmed a Rs2,400 crore demand against HDFC Life Insurance. This ruling could establish a precedent that might push the...

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Moneylife Digital Team 26 February 2025
A special central bureau of investigation (CBI) court has sentenced five individuals, including a former divisional manager (DM) of United India Insurance Company Ltd (UIICL) and two directors of two insurance brokers, to five years of rigorous imprisonment in connection with a fraudulent...

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Uttara Vaid 20 February 2025
On 1 April 2024, the Indian government introduced significant amendments to the Public Liability Insurance Act (PLIA) through the Jan Vishwas Act, followed by further amendments to the Rules on 17 December 2024. These changes have substantially increased insurance coverage limits and...

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Moneylife Digital Team 20 February 2025
The insurance regulatory and development authority of India (IRDAI) has constituted a seven-member committee, chaired by Dinesh Khara, former chairman of the State Bank of India (SBI), to review proposed amendments to the Insurance Act of 1938 and recommend a regulatory framework for their...

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Moneylife Digital Team 20 February 2025
Coming down heavily on UIB Insurance Brokers Pvt Ltd for repeatedly failing to remit insurance premiums and failing to protect policyholders' interests, the insurance regulatory and development authority of India (IRDAI) has imposed a penalty of Rs1 crore on the insurance broker. The fine comes...

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Moneylife Digital Team 17 February 2025
Union finance minister (FM) Nirmala Sitharaman says the government have asked insurance companies to extend the free-look period for insurance policies to one year from the existing one month.    Speaking with media in Mumbai, Ms Sitharaman says, "People can return policy within one year for...

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In November 2023, the Supreme Court ruled that for a fire insurance claim, if the insurer is not found to be responsible for starting the fire, then identifying the precise cause of the fire is not necessary. Since then, the insurance companies are under obligation to uphold the insurer’s terms...

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