Plugging the gaps in FDI in insurance

Before 1999, the insurance sector in India was nationalized. No private sector or foreign insurance companies were allowed. In 1999, the insurance law was amended, opening the market to private firms as well as joint ventures with foreign partners. The amended law permitted foreign direct investment (FDI) only up to 26% in an Indian insurance company. Read more

Health insurance firms must settle claims directly with policyholders, rules court

Insurance companies will be required to pay health claims directly to consumers, according to a Bombay High Court judgment delivered on a public interest litigation. Earlier, such claims (reimbursements of cashless settlements) were done through intermediaries called third party administrators (TPAs). Read more