Insurance

IRDAI has asked general insurance and standalone health insurance companies to settle claims related to covid-19 within 2 hours.

Irrespective of size of your organization, you must provide medical insurance to all your employees, the government of India has notified through IRDAI.

Health and third party motor insurance policies whose expiry date is between March 25 and May 3 can be renewed till May 15, says IRDAI.

LIC India will disburse advance commission of up to Rs.50,000 to close to 6.5 lakh individual insurance agents.

LIC extends grace period by another one month to pay premiums amid extension of coronavirus lockdown in many states.

IRDAI has clarified that policyholders can spread their ULIPs maturity proceeds across five years.

The policy covers loss of pay and loss of job due to coronavirus pandemic.

IRDAI has found instances of insurance intermediaries being incentivized with rewards that are much more than the commission paid to them. In wake of this, IRDAI has issued guidelines to create transparency and objectivity for payment of rewards to insurance intermediaries.

ICICI Lombard General Insurance has partnered with Apollo Health & Lifestyle and Metropolis Healthcare to provide free covid-19 testing.

IRDAI has asked life insurers to give an option to ULIP investors to receive maturity claims in a staggered way.

Health and third party motor insurance policies expiring between March 25 and April 14 can be renewed till April 21, says IRDAI.

Arogya Sanjeevani Policies offered by health insurers will now cover hospitalization costs incurred due to coronavirus.

Insurers will have to update IRDAI on status of claims related to coronavirus every fortnight.

IRDAI extends deadline to pay premiums amid coronavirus lockdown.

Move made keeping the coronavirus pandemic in mind.