Portable health cover roll out planned
India could roll out cashless and
portable Universal Health Coverage
(UHC) in one district of each state
during the first year of the 12th Plan
as a pilot project before introducing it
nationwide by 2020.
The steering committee has asked
the Union health...
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IRDA wants lifelong renewal
for health covers
The insurance regulator has told
insurance companies that when
they design new health plans there
should not be a maximum age for
existing policyholders. Companies
will continue to have the freedom
to set an age limit for entry — that
is for buying the policy for the first
time. But once they have....
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Companies reduce health benefits as costs rise
Stung by a 20% increase in health insurance costs, companies are increasingly asking employees to co-pay and a large number of employers are dropping parents out of their group health insurance cover. The cost of health cover has gone up because in more than half the companies the premium is not enough to cover claims.
According to a employee benefit survey conducted by Marsh....
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Feedback sought on new motor insurance law
Govt may table Bill in next Parliament session
The Union government has
initiated a process to hasten
the de-linking of motor insurance
from The Motor Vehicle Act, 1988,
by enacting a new law on the
subject. The Bill in this regard is
expected to be introduced during
the next session of Parliament.
According to sources, the ministry
of finance has sought.....
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Chola MS aims at
Rs. 1,350 cr premium
this fiscal
Cholamandalam MS General
Insurance has booked a total
premium of more than Rs. 1,000 crore
in the first nine months of the
current fiscal and hopes to achieve
a business of Rs. 1,350 crore this fiscal,
focussing on new products.
A statement issued by the company
said it had crossed a gross written
premium (GWP) of....
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Star Health to raise Rs. 170 cr
this fiscal
Star Health and Allied
Insurance Company will be
raising Rs.170 crore before March
end to meet growth plans as
well as claims settlement. The
company, which has equity
partners such as Sequoia Capital,
ICICI Ventures and Oman
Insurance as a JV partner, may
consider diluting...
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Bharti AXA General GWP grows 47%
Bharti AXA General Insurance
will focus more on retail
business than commercial
lines, according to its CEO and
Managing Director, Dr Amarnath
Ananthanarayanan. The company
grew its gross written premium
47 per cent in 2011 to Rs. 776 crore.
It sold over 6.5 lakh policies and
settled over 1.2 lakh claims during
the year, he said.....
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ICICI Lombard, IIRM ink pact
for insurance course
ICICI Lombard General Insurance
Company has tied up with the
Institute of Insurance and Risk
Management for launching a postgraduate
programme in risk and
general insurance.
Speaking after singing a
memorandum of understanding
with ICICI Lombard......
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Health insurers shun TPAs
to save cost, offer quicker
service
Competition in the fast growing
health insurance business is
forcing many general insurance
companies to shun the services
of third party administrators
(TPA) and to manage and settle
health insurance claims through
in-house teams.
“Claims settlement....
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