INSURANCE


IANS 27 December 2023
The Bengaluru-based corporate giant Wipro has filed a lawsuit against its former chief finance officer (CFO), Jatin Dalal, in the Bengaluru civil court. In turn, Mr Dalal, at present with Cognizant as CFO, has submitted an application to the court requesting arbitration.   However,...

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Moneylife Digital Team 26 December 2023
While upholding orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed HDFC Bank Ltd to pay Rs5 lakh with 9% interest and Rs10,000 as compensation to the nominee of the bank account-holder.   In an order last week, the NCDRC bench of air...

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Sponsored Post 21 December 2023
In today’s times, health insurance has become a priority. It aims to provide financial protection during medical crises by covering hospitalisation expenses, medical bills and ambulance fees. Though health insurance plans, including family health insurance and health insurance for senior...

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Moneylife Digital Team 18 December 2023
With the aim of providing better housing, infrastructure and robust transport facilities to the growing population of the Mumbai metropolitan region (MMR), the Maharashtra government has finalised a broad skeletal proposal for developing a new city called the 'Third Mumbai', says a...

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IANS 18 December 2023
The Lok Sabha was on Monday adjourned till Tuesday 11am amid uproar by the Opposition MPs (members of Parliament) after suspending a total of 33 MPs winter session. including Leader of Congress in the House Adhir Ranjan Chowdhury for the remainder of the winter session.   The Lok...

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Moneylife Digital Team 11 December 2023
While upholding an order passed by the Punjab state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) directed Reliance General Insurance Co Ltd to pay Rs11.11 lakh death claim with 9% interest and compensation to the mother of the deceased...

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IANS 07 December 2023
The Indian insurance industry, including the sectoral regulator, is strangely silent on helping the policyholders affected by cyclone Michaung on the steps to be taken to prefer a claim—loss of property and life.   Due to the cyclone Michaung, Chennai got huge rainfall resulting in...

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Moneylife Digital Team 06 December 2023
Holding State Bank of India (SBI) and SBI Life Insurance Co Ltd (SBI Life) guilty of unfair trade practice and deficiency in service in rejecting the death insurance claim of a borrower of a home loan, the national consumer disputes redressal commission (NCDRC) directed them to settle the...

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Moneylife Digital Team 24 November 2023
Calling for reviewing of mis-selling of third-party products, especially IndiaFirst Life Insurance (IFLI) policies, the Bank of Baroda Officers' Union (BoBOU) has requested the top management to delink the insurance product from employees. Bank of Baroda owns a 65% stake, while Carmel Point...

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Moneylife Digital Team 17 November 2023
After accepting the premium and issuing the policy ignoring blank columns in the proposal form, the insurer cannot at a later stage say that there was a suppression or non-disclosure of a material fact and reject the claim, the national consumer disputes redressal commission (NCDRC)...

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Maya Miller  and   Robin Fields (ProPublica) 17 November 2023
This story was originally published by ProPublica.   States have passed hundreds of laws to protect people from wrongful insurance denials. Yet from emergency services to fertility preservation, insurers still say no.   In North Carolina, lawmakers outraged that breast cancer...

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Moneylife Digital Team 10 November 2023
Upholding an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) directed Liberty Videocon General Insurance Co Ltd to pay Rs24.18 lakh, including the insured declared value (IDV) of the BMW 5 series car, compensation for mental agony and...

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Moneylife Digital Team 09 November 2023
While asking the Life Insurance Corporation of India (LIC) to pay Rs2 lakh as a claim for death insurance, the national consumer disputes redressal commission (NCDRC) reiterated that it is upon the insurer who has rejected the claim to prove that the deceased life assured (DLA) suppressed...

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Moneylife Digital Team 08 November 2023
While upholding an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) directed Aegon Life Insurance Company Ltd to pay Rs55 lakh with 6% interest and Rs3.05 lakh as compensation and cost of litigation to the nominee of the deceased life insured...

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T Christian Miller (ProPublica) 08 November 2023
This story was originally published by ProPublica.   Blue Cross and Blue Shield denied payment for the proton therapy Robert “Skeeter” Salim’s doctor ordered to fight his throat cancer. But he was no ordinary patient. He was a celebrated litigator. And he was ready to...

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IANS 06 November 2023
According to the flash figures issued by the industry lobby body General Insurance Council of India (GIC), the general insurance industry had earned a total premium of Rs23,814.64 crore, up from Rs0,954.89 crore earned during October 2022.   Within the overall, the 25-member general...

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Long revered as the ‘simple’ middle-class, super-success story, the Murthys of Infosys are perhaps perplexed at why social media (with often leads the mainstream media coverage) seems to explode at their comments these days. This time around, it was NR Narayana Murthy’s ‘request’ that India’s...

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Shrirang V Samant 03 November 2023
When a respected broadsheet finds it necessary to devote an editorial to an issue concerning a critical industry, it is time to start pondering on what lies beneath it, why this is happening and what needs to be done.   The heading of the said editorial perhaps says it all – ‘How to...

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Moneylife Digital Team 03 November 2023
Coming down heavily for unethical practices and luxury of litigation in accidental death claim matters, the national consumer disputes redressal commission (NCDRC) directed Bajaj Allianz Life Insurance Company Ltd to pay the accidental death insurance claim of Rs20 lakh, a compensation of Rs5...

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Moneylife Digital Team 03 November 2023
Expressing displeasure over the selective exclusion in settling a third-party claim in a liquefied petroleum gas (LPG) or cooking gas blast case, the national consumer disputes redressal commission (NCDRC) directed National Insurance Co Ltd to pay the balance Rs15 lakh with 9% interest to the...

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