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The corporation has eased the process of claim settlement for the victims of the rail tragedy at Balasore
Insurance regulator IRDA has received applications from 20 companies for approval. About a dozen of these insurance companies are expected to start business this year.
There are now 25 companies in the life insurance business and 34 in the general insurance sector in the country.
After two years of high claims, insurance companies are planning to raise premium rates this year. This means policyholders may have to pay more for premiums
Effective April 1, 2023, IRDA has set a ceiling on the total expenditure an insurance company can incur while paying its agents and other service intermediaries.
IRDA has instructed to cover the cost of surrogacy within its health insurance plans, a move that is expected to provide relief to thousands who are forced to choose surrogacy to rear a family
Industry estimates suggest that the hikes might be to the tune of 10% of the premiums which might span a range as diverse as properties, motor vehicles, other liabilities and even marine insurance
The increase in demand for life insurance policies came mainly towards the end of the fiscal year, with private life insurance companies emerging as winners
Health insurance companies have divided the premium cost according to the zones in the country. People living in rural areas or small towns get cheaper health insurance compared to those living in big cities.
An organisation's reputation is closely linked to the behaviour of its employees, Irda said