person issue basic funeral commission costs group claims customers street policyholders facility zilveren including providers homeowners act driving irdai market funds line russian meet paying fee volkskrant premium axa price

Articles for Insurer, search results for lakh

[Motor Accident] Adverse Inference Can Be Drawn Against Insurer On Failure To Rebut Evidence: Jharkhand HC Upholds ₹11.45 Lakh Compensation
1 month ago

[Motor Accident] Adverse Inference Can Be Drawn Against Insurer On Failure To Rebut Evidence: Jharkhand HC Upholds ₹11.45 Lakh Compensation

Live Law  

The Jharkhand High Court has upheld the award of ₹11,45,932 granted by the Motor Accident Claims Tribunal, Dhanbad, to the widow of a carpenter who succumbed to injuries sustained in a fatal motorcycle accident. The court emphasised that failure of the insurance company to summon key witnesses or rebut the evidence presented by the claimants resulted in an adverse inference …

Insurance Evidence Court Accident Company Motorcycle Tribunal
Terms Of Insurance Contracts Should Be Strictly Interpreted: NCDRC
2 months, 3 weeks ago

Terms Of Insurance Contracts Should Be Strictly Interpreted: NCDRC

Live Law  

The National Consumer Disputes Redressal Commission, presided by Mr. Subhash Chandra and Dr. Sadhna Shanker, dismissed an appeal against National Insurance Company and held that insurance contract terms must be strictly interpreted, with precise adherence to their explicit wording and no alterations made. Contentions of the Insurer The insurer contended that the complainants secured a home loan to purchase the …

Policy Insurance National Commercial Loan Complainant National Insurance Company
Insurer to cough up ₹5 lakh for denying man’s medical claim
6 months, 3 weeks ago

Insurer to cough up ₹5 lakh for denying man’s medical claim

Hindustan Times  

The District Consumer Disputes Redressal Commission has directed an insurance company to pay ₹5 lakh, along with interest, to a local resident whose medical claim was denied. Along with ₹ 5 lakh, the insurance company has been directed to pay interest at 6% per annum. Filing a case against Max Bupa Health Insurance Company Limited, Lalit Kumar, a resident of …

Lakh
Consumer panel directs bank, insurer to pay ₹30 lakh claim to Mumbai cop injured in accident
8 months, 4 weeks ago

Consumer panel directs bank, insurer to pay ₹30 lakh claim to Mumbai cop injured in accident

Hindustan Times  

Mumbai, A consumer commission here has directed the Axis Bank and the New India Assurance company to pay an insurance claim of ₹30 lakh along with interest to a policeman who suffered injuries with permanent disabilities after an accident in 2017. HT Image The District Consumer Disputes Redressal Commission, South Mumbai, in an order passed on March 11, noted that …

Insurance Mumbai Bank Company Commission Complainant Lakh
LIC stock rallies 2% after company receives refund order worth ₹21,740 crore
10 months ago

LIC stock rallies 2% after company receives refund order worth ₹21,740 crore

Live Mint  

Life Insurance Corporation India shares saw a notable uptick of over 2 percent. According to a regulatory filing made by the company on February 16, the total value of refunds stands at ₹25,464 crore, with the company actively pursuing the remaining balance with the Income Tax Department. According to a Mint study based on regulatory filings, the state-run insurer sold …

Income Crore Lic
Chandigarh: Car insurer fined 15k for rejecting claim
11 months ago

Chandigarh: Car insurer fined 15k for rejecting claim

Hindustan Times  

The District Consumer Disputes Redressal Commission has directed an insurance company to reimburse a claim of ₹10 lakh to a Panchkula woman, whose car was stolen in Delhi. The company mentioned that the theft of the car was reported to them on February 3, 2020, and they appointed one Anurag Midha as a fact finder, so it is proved that …

Insurance Delhi Company Fir Claim
‘Newborn’ Baby Includes ‘Pre-Mature Baby’: Bombay High Court Directs Insurer To Pay For Expenses Related To Infant’s Care, Imposes ₹5 Lakh Cost
1 year, 9 months ago

‘Newborn’ Baby Includes ‘Pre-Mature Baby’: Bombay High Court Directs Insurer To Pay For Expenses Related To Infant’s Care, Imposes ₹5 Lakh Cost

Live Law  

In a significant order the Bombay High Court has held that a ‘newborn’ baby would include a ‘pre-mature baby’ and the insurer would be liable to pay for all expenses related to the infant’s care. However, the petitioner’s claim was rejected on the ground that “expenses incurred towards post-natal care, pre-term or pre-mature care or any expense incurred in connection …

Policy Insurance Expenses Baby Born New India Assurance Justice Gokhale
LIC IPO to have a Bumper Listing? You Can Expect as Insurer Sees Robust Growth in FY22
2 years, 8 months ago

LIC IPO to have a Bumper Listing? You Can Expect as Insurer Sees Robust Growth in FY22

News 18  

LIC IPO: The Life Insurance Corporation of India, or LIC’s chances to perform well at the bourses when the LIC IPO gets listed, just got higher. In March, however, the country’s largest insurer’s premium collections jumped to Rs 42,319.22 crore, a 51 per cent increase than the previous year, as per the data. In the year ended March 31, 2022, …

Share Crore Cent Mint Ipo Lic Lic Ipo
Ahead of IPO, LIC India's Q3 Net Profit Jumps to Rs 234.91 Crore
2 years, 9 months ago

Ahead of IPO, LIC India's Q3 Net Profit Jumps to Rs 234.91 Crore

News 18  

The state-run insurer Life Insurance Corporation of India said its fiscal third-quarter profit after tax jumped to Rs 234.91 crores, from a mere Rs 0.91 crore in the same quarter in the previous year, primarily due to a change in funds redistribution policy. Its new business premium growth rate stood at 554.1 per cent in H1FY22, compared with 394.76 per …

Premium Crore Cent Quarter Lic Ipo
Ombudsmen are underutilized in insurance sector
3 years, 11 months ago

Ombudsmen are underutilized in insurance sector

Live Mint  

The ombudsman is a good but under-utilized and misunderstood grievance redressal option for insurance. The ombudsman accepts complaints pertaining to individual or group insurance and can award up to ₹30 lakh. Only in two of 17 ombudsman offices was the number of decisions favouring insurers higher than those favouring policyholders. Although the complaints are unevenly distributed across the 17 ombudsman …

Insurance Complaints Ombudsman Insurers Policyholders Ombudsmen Favouring Insurer
LIC IPO may spill over to next fiscal as govt looks at valuation of insurer
4 years, 1 month ago

LIC IPO may spill over to next fiscal as govt looks at valuation of insurer

India TV News  

The mega initial public offering of Life Insurance Corp may spill over to the next fiscal as the government will first look at the independent actuarial valuation of the country's largest insurer, a top official has said. Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said the pre-IPO work of LIC is going on at four stages …

Fiscal Ipo Valuation Lic Embedded Value
You can use multiple health policies for a single claim
4 years, 3 months ago

You can use multiple health policies for a single claim

Live Mint  

The number of covid-19 cases in the country are spiking with each passing day, resulting in more people getting treated in hospitals or make-shift facilities. You are allowed to use multiple policies, such as the group policy from your employer, your individual health policy and your top-up health policy, for a single claim. Using multiple policies “Keeping in mind the …

Policy Insurance Sum Insured Insurer Claim Nerurkar