The Insurance (Amendment) Bill, 2021
The Insurance (Amendment) Bill, 2021 was introduced in Rajya Sabha by the Minister of Corporate Affairs, Ms. Nirmala Sitharaman, on March 15, 2021. The Bill amends the Insurance Act, 1938. The Act provides
Insurance Industry
-
CNG vehicle drivers in Delhi to get insurance cover
Within the next three to four months, all the 2.5 lakh CNG vehicle drivers in the Capital will be covered by insurance policies with provisions for relief in case of accident, partial disability and permanent
-
Europe floods to cost insurers up to $4.5 billion: Swiss Re
Floods in central Europe last month may cost insurance companies $3.5-4.5 billion, only half of one previous estimate but more than was paid out for the last major washout in 2002, the world's second biggest
-
Health covers may cost 20% more
Mumbai: The insurance regulator has cleared a hike in health insurance rates for policies issued by New India Assurance, the country’s largest non-life insurer. The new rates are on an average 20% higher than the old ones which were in force from 2007 and will come into effect from next month. The rate hike could trigger similar revisions among other state-owned non-life insurers since New India, being the largest, sets the benchmark for rates. TOI had reported in its January 26 edition that public sector insurers are set to revise health insurance rates by 20-25%.
-
The challenge of institutional investment in renewable energy
Institutional investors, which together manage assets of over $70 trillion, often have investment objectives that are aligned with the investment profile of infrastructure. At first glance, access to this
-
Disasters cost $140b in 2012: Report
Natural and man-made disasters around the world this year, including Superstorm Sandy, will cost at least $140 billion (106 billion euros), according to a study published by Swiss insurance group Swiss
-
Climate and cost concerns mount in wake of "superstorm"
Monday's mammoth storm that caused severe flooding, damage and fatalities to the eastern U.S. will raise pressure on Congress and the next president to address the impacts of climate change as the price
-
Free generic drug policy to redefine health insurance
Insurers may be burning their fingers in urban health portfolios for some time now, but the government’s rural healthcare initiatives, including its decision to provide free generic drugs to public hospitals, are set to offer fresh avenues of growth for them. The recent government decision to provide free generic drugs to government hospitals at an expense of $5.4 billion (Rs 29, 820 crore) could be a game-changer for the health insurance business in India. While insurers suffer a high claim ratio in urban centres, in excess of 100 per cent, the cost of health insurance in rural centres is expected to come down with the new regulation.
-
Health insurance scheme for the poor a total failure, says DMA
Not possible to honour smart cards under present circumstances: Hospitals The Delhi Medical Association has expressed concern over what it called the “total failure” of the Rashtriya Swasthya Bima Yojana (RSBY) initiated through the Delhi Government to provide free health care to persons belonging to the below poverty line by providing them an insurance of Rs. 30,000 which they could utilise in any hospital in the eventuality of ailment. “The scheme was launched with lot of fanfare and many people were enrolled into the scheme and provided a smart card.
-
Managing Risks of Climate Disasters
Developing countries should take simple steps to deal with extreme climate events, but the world should not lose sight of cutting carbon emissions to protect life on Earth. Much has been written and discussed
-
2011 Disaster Losses Cost Insurers $116 Billion: Swiss Re
Natural disasters, such as Japan's earthquake and floods in Australia and Thailand, cost the global economy a record $370 billion in 2011, with losses for the insurance industry the second largest ever,