Latest News, Updates & Breaking Headlines
NEW DELHI: Cancelling your air ticket just hours before flight departure time due to pressing reasons could soon not mean losing the entire booking amount. India is planning to roll out an inbuilt travel insurance component in air tickets within next 2-3 months that could mean getting anywhere upto 80% refund for last-minute exigency cancellations.As…
The government plans to introduce a bill in the upcoming Winter session of Parliament to raise the foreign direct investment (FDI) limit in the insurance sector to 100 per cent from the current cap of 74 per cent, according to a Lok Sabha bulletin.The Winter session is scheduled from December 1 to 19 and will…
MUMBAI: Fraud and waste remain a costly drag on the health-insurance system with Rs 8,000–10,000 crore of leakages in claim payouts leak each year according to a report by Boston Consulting Group and Medi Assist.The report says that fraud and unnecessary claims push up insurance premiums, hurt insurers’ finances and waste public money. It also…
Mahindra & Mahindra has deepened its presence in India’s financial sector by partnering with Canada’s Manulife to enter the life insurance business through a new 50:50 joint venture. The two companies have signed an agreement to establish a life insurer in India, subject to regulatory approvals, with each holding an equal stake and a capital…
Children have emerged as the most vulnerable group to India’s worsening air pollution, with nearly half of all pollution-related health insurance claims coming from those under the age of ten, according to a new report by Policybazaar.As cited by news agency ANI, the report revealed that 43 per cent of all pollution-linked insurance claims were…
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) is closely examining the shortfall in the settlement of health insurance claims, even as over half of the complaints received under the insurance ombudsman system relate to health policies.At the Bima Lokpal Day event on Tuesday, Irdai chairman Ajay Seth said, “In health insurance, we…
MUMBAI: Health insurance firms posted the strongest growth in October, outpacing the rest of the non-life sector, as lower GST rates on health premiums spurred fresh buying and renewals. Data from the General Insurance Council’s monthly Flash Report show that stand-alone health insurers (SAHIs) recorded a 38.3% year-on-year jump in gross premiums to Rs 3,738…
Kanpur: A 47-year-old widow was arrested Thursday after her alleged lover and his brother were rounded up for allegedly murdering her 22-year-old son to claim Rs 40 lakh from four life insurance policies taken in his name, UP police said Thursday. Mamta Devi allegedly conspired with Mayank Katiyar, 33, and his brother Rishi Katiyar, 28,…
CHENNAI: Standalone retail health insurer Star Health and Allied Insurance Company on Tuesday reported a 50.7% drop in profit after tax (PAT) at Rs 54.9 crore for the quarter ended September 30, 2025, compared with Rs 111.3 crore in the corresponding quarter last year. Its gross written premium (GWP) rose marginally by 1.2% to Rs…
The acquistion will help Tritax expand its urban and small-box logistics offerings in the UK’s South East and the Midlands. Mumbai: The US-based Blackstone Group has acquired a majority stake in Mumbai-based Ace Insurance Brokers for about $400 million, valuing the company at $425-450 million. The deal is the largest foreign investment in India’s insurance…
