Regulation: Aadhaar Link with Insurance Can Be a Challenge
The Insurance Regulatory Development Authority of India (IRDAI) has made it mandatory for companies to link Aadhaar with insurance policies from general, life and stand-alone insurers without awaiting further instructions. The move can create logistical challenge for insurance companies for life, health, vehicles and all other types of covers. There is a possibility of insurers even...
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  • Motor Insurance: HC Directs IRDAI To Enhance Accident PA Cover to Rs15 Lakh
    The Madras High Court (MHC) has directed IRDAI to enhance compulsory personal accident (PA) cover from Rs1 lakh to not less than Rs15 lakh. It will help vehicle-owners paying premium for vehicle cover to get adequate compensation in the event of death or bodily injury. Indian motor tariff compensation payable to the legal heirs in case of death or bodily injury suffered by the owner of the...
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  • Insurance: Fine Print
    Government To Track Uninsured Vehicles
    Government has asked insurance companies to share details of insured vehicles. The data on uninsured cars and two-wheelers will be kept on an online website which can be accessed by every state transport department and traffic police to take action against the vehicles plying on the road without third-party (TP) insurance cover. There is a growing...
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