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News
7 years on, insurer ordered to pay Rs 8.06 cr to Swiss firm subsidiary in fire claim dispute
1+ day, 1+ hour ago (574+ words) The Economic Times...
Joint liability ruling puts India's bancassurance distribution under scrutiny
4+ day, 13+ hour ago (805+ words) A consumer commission in Telangana has ordered a bank and insurer to jointly refund Rs 10 lakh to a 73-year-old retired associate professor, ruling that the policy was issued without her free will or informed consent. The August 27 ruling by the…...
Motor Insurance Shifts To Usage-Based Pricing In India
1+ week, 15+ hour ago (304+ words) whalesbook.com The Indian motor insurance industry is undergoing a structural transformation, moving away from traditional, one-size-fits-all policies toward usage-based insurance This new approach, often called 'pay-as-you-drive,' allows premiums to be calculated based on factors such as annual mileage and…...
Insurer's year-long delay sinks most of its coverage case
2+ week, 5+ day ago (318+ words) An insurer sat on its coverage case for more than a year and lost most of it - but an appeals court kept one claim alive. Personal Service Insurance Company issued a car policy to a New York driver that ran…...
US rate filings hit the brakes as objections send business to E&S
3+ week, 3+ day ago (263+ words) Intelligent Insurer - US rate filings hit the brakes as objections send business to E&S US rate filings face a fourfold approval slowdown when regulators object, helping steer business from the admitted market into excess & surplus (E&S). To request a…...
SC asks Centre to link fuel sale with valid insurance, start pilot in Delhi
3+ week, 5+ day ago (464+ words) The Supreme Court on Wednesday asked the Centre to implement its direction for a pilot project by which fuel for vehicles would be refused at petrol pumps unless they have valid insurance. In a significant verdict delivered on August 4, the…...
Karnataka to set up state motor insurance corporation to cut costs, simplify claims
4+ week, 1+ day ago (242+ words) Announcing the move in his Independence Day address, Chief Minister DK Shivakumar said: “The rising cost of motor vehicle insurance and the difficulty of obtaining insurance claims in the event of an accident have become a major challenge for ordinary…...