IRDA norms give TPAs less room

It’s going to be a new ball game, albeit limited, for third party administrators (TPAs), entities that act as an intermediary between insurers and policyholders in processing insurance claims. Under the new set of health regulations laid down by the Insurance Regulatory and Development Authority (IRDA), the functions and roles of TPAs have been clearly defined, which on the face of it look more restrictive than earlier. Read more

HDFC ERGO General Insurance launches ‘Health Suraksha Top Up’ plan

Private insurer HDFC ERGO General Insurance today launched ‘Health Suraksha Top Up’ plan allowing a customer a larger sum insured limit at lower cost. The policy comes into action once the sum insured of the existing policy is exhausted, giving an additional sum insured to cover the medical expenses beyond a threshold limit of the existing health insurance plan to a customer, HDFC ERGO General Insurance said in a release issued here. Read more

Insurance News: Bharti Walmart probe may invoke insurance cover worth $5 million

Bharti Walmart’s insurance cover against litigations and scandals faced by its directors and senior officers may be triggered as the probe into potential violations of America’s anti-bribery laws by the Indian unit Walmart gathers pace. Read more

Weather insurance: HDFC ERGO General Insurance to give weather insurance to Maharashtra farmers

HDFC ERGO General Insurance has been allowed by the Maharashtra government to implement Pilot Weather Based Crop Insurance Scheme (WBCIS) for Loanee and Non Loanee farmers for Rabi 2012-13.

The crops to be covered are Grapes in Sangli, Satara and Beed districts, Pomegranate in Buldhana, Aurangabad, Satara, Beed and Sangli districts, Banana in Akola, Buldhana, Aurangabad, Satara, Kolhapur, Parbhani , Beed and Sangli, Orange in Akola and Buldhana, Sweet Lime in Buldhana, Aurangabad, Parbhani and Beed, Guava in Buldhana and Aurangabad and Cashew in Kohlapur. Read more