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Health insurance is a cause of concern for everyone. There are several issues that need regulatory intervention and direction. The Insurance Regulatory and Development Authority who have the task of protecting policyholders, has initiated several steps in this direction. Read more
Insurance is a business of Probability, spreading of losses when the probable event takes place. Spreading the losses takes place in the agreed business participation by way of Insurance & Re-insurance contracts. Read more
General Insurance Surveyors, also referred to as Surveyor & Loss Assessors, or SLA in short, are qualified, licensed & independent professionals.  The Surveyor & Loss Assessor’s license is granted by Insurance Regulatory & Development Authority (IRDA) as per the provisions of section 64UM of Insurance (Amendment) Act, 1968 and amended later during 2002. Read more
Condition is an essential feature of a contract whether written or unwritten, unilateral, bilateral or multilateral. A condition signifies that situation or event, the occurrence or nonoccurrence of which triggers deprivation of or empowerment with rights to parties to the contract.
Read moreA burning piece of space debris, probably a meteorite, fell on the roof of a house in East Delhi’s Gandhinagar area on November, 28th 2011. The burning meteorite piece first struck the roof and fell on the balcony setting some clothes, a water jar and a bike on fire. Read more
The insurance industry in India witnessed a paradigm shift during the year 2000- 2001. Since 1973, the non-life insurance industry was dominated by the four nationalised insurance companies. Privatisation of the insurance sector opened the doors of opportunity for the big business houses of India.
Read moreUnder promise and over deliver
All business should be able to live up to the hype they create for themselves, however there are many businesses that over promise and under deliver. Some businesses work the other way around, i.e. under promise and over deliver, but what exactly does this mean? In a bid to win over customers, enter new markets and gain market share it seems that many businesses will make many promises to win the customer over, many of which seldom come to fruition. Read more
Since revision in MV Act in the year 1988, incorporating of certain amendments with regard to limit of liability, time limit for filing claim petition, selected defense made available to insurers, widening of jurisdiction clause etc. are all together leading to high Incurred claim ratio in this segment and thus putting pressure on insurer’s financial performance in this global environment, particularly when self sustainability of each segment becomes of paramount importance and also a talk of the day. Read more
The hazard of accidental death or injury resulting from participation in aeronautics. Read more
Mechanical device for signalling the occurrence of an unwanted condition, such as a fire, burglary, or the unnecessary activation of a fire-suppression system so that a corrective action may be taken in haste.
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