INSURANCE


Moneylife Digital Team 31 August 2023
Upholding orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed New India Assurance Co Ltd to pay Rs10 lakh, the entire sum assured in the policy, for a four-storey building damaged during an earthquake. As against the policy of Rs10 lakh, New India...

Read More



Moneylife Digital Team 30 August 2023
Upholding that poisoning by unknown persons in a train is a case of accidental death coverable under the insurance policy, the national consumer disputes redressal commission (NCDRC) directed Life Insurance Corporation of India (LIC) to pay Rs10 lakh with 9% interest and other benefits of the...

Read More



Moneylife Digital Team 28 August 2023
After the asset management business, Jio Financial Services (JFS), the new company of Mukesh Ambani-led Reliance Industries Ltd (RIL) group, is set to enter the insurance sector and will offer life, general and health insurance products.    Speaking at RIL's annual general meeting, Mr...

Read More



Moneylife Digital Team 22 August 2023
Rejecting the contention of Reliance Life Insurance Company on concealed material evidence by the insured, the national consumer disputes redressal commission (NCDRC) directed the insurance company to pay the claim amount of Rs1 crore with an interest of 9% and Rs50,000 litigation cost to the...

Read More



Moneylife Digital Team 17 August 2023
While clarifying that the complainant is not entitled to benefits under multiple sub-clauses, the national consumer disputes redressal commission (NCDRC) says the consumer has a right to cover his insurance claim under the sub-clause which gives him a higher benefit. NCDRC then enhanced the...

Read More



Moneylife Digital Team 14 August 2023
The income tax (I-T) department has completed its investigation into alleged malpractices in the payment of commissions by insurance companies and uncovered evasion of more than Rs15,000 crore and the tax on this will be about Rs4,500 crore, says a report.   In the report, the...

Read More



Moneylife Digital Team 08 August 2023
Maharashtra will become the first state in the country to have mandatory insurance coverage for shops and establishments registrations. According to a report, the Maharashtra government's labour department has issued draft notification to add insurance in Maharashtra Shops & Establishment...

Read More



Moneylife Digital Team 27 July 2023
Coming down heavily on the Life Insurance Corporation of India (LIC) for contesting insurance claims on technical grounds, instead of fulfilling its obligation in full under the policy, the national consumer disputes redressal commission (NCDRC) directed LIC to pay Rs6 lakh as a triple...

Read More



Moneylife Digital Team 27 July 2023
The Delhi High Court (HC) imposes Rs1 lakh cost each on the National Restaurant Association of India (NRAI) and the Federation of Hotel & Restaurant Associations of India (FHRAI) for non-compliance with its directions on service charges. NRAI and FHRAI are asked to pay the penalty to the...

Read More



Don't try to start your vehicle if it was submerged in water. Or else you will not get any claim—insurance or warranty, is the advice that is largely now being heard.   Vehicles getting submerged due to heavy rain or being washed away by flood waters seems to be becoming a regular...

Read More



Abhay Datar 26 July 2023
Many times, a claim lodged under our health insurance policy is either rejected in toto or settled partially. This demoralises the policyholder who is already worried about his or her health and this sort of rejection creates more stress. It should be noted that the insurance company is...

Read More



Moneylife Digital Team 26 July 2023
Setting aside an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) rejected a vehicle insurance claim due to an invalid licence of the driver, who was driving the car when it met with an accident.    In an order, the NCDRC bench of...

Read More



Moneylife Digital Team 06 July 2023
Upholding orders passed by the below fora, the national consumer disputes redressal commission (NCDRC) says when Life Insurance Corporation of India (LIC) knew about the issuance of the previous insurance policy issued a day prior, fault cannot be attributed to the deceased policyholder...

Read More



Robin Fields (ProPublica) 29 June 2023
This story was originally published by ProPublica.   Insurers’ denial rates — a critical measure of how reliably they pay for customers’ care — remain mostly secret to the public. Federal and state regulators have done little to change that.   It’s one of the most crucial...

Read More



Sponsored Post 26 June 2023
Car insurance is an essential requirement for every vehicle owner in India. It not only provides financial protection but also ensures peace of mind while driving on the roads. However, with numerous insurance providers and policies available in the market, it can be overwhelming to choose...

Read More



Sponsored Post 19 June 2023
Introduction to Term Insurance Term insurance offers financial protection by providing a lump sum payout to your family or loved ones in the event of your passing. While the concept is straightforward, selecting the right plan requires careful consideration. This guide will walk you...

Read More



It is not a merger of two life insurance companies but only the transfer of life insurance business and policyholders' assets and liabilities of Sahara India Life Insurance to it, SBI Life Insurance said on Friday.   In a statement, SBI Life said: "The Insurance Regulatory and...

Read More



Sponsored Post 05 June 2023
In a rapidly changing world, considering the future of family health insurance coverage is more crucial than ever. Healthcare costs are increasing, demographics are shifting, and new technologies are emerging, all impacting the need for and accessibility of family healthcare...

Read More



Moneylife Digital Team 29 May 2023
Rejecting the Life Insurance Corporation of India's (LIC's) contention that there was a material suppression of the health condition in the proposal form by the deceased life assured (DLA), the national consumer disputes redressal commission (NCDRC) directed the insurer to pay a Rs4 lakh...

Read More



Moneylife Digital Team 24 May 2023
While modifying an order passed by the Odisha state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) imposed an additional cost of Rs10,000 on United India Insurance Co Ltd.    In an order, the bench of Dr Inder Jit Singh (presiding...

Read More

Free Helpline
Legal Credit
Feedback