In April 2007, Indian General insurance business was taken off the tariff, the price list for many types of General insurance which had been statutory for decades. Some tariffs were very high – for Fire insurance – for example. Others were too low – like Motor insurance, especially Motor Third Party Liability. This led to [...]

The essence of an insurance policy is the timely and correct payment of a claim when it arises. All the reluctance of a prospect to buy, or a policyholder to pay and renew, find an answer at the time of a claim when, in that moment of distress, there is one voice that brings restitution [...]

Select Highlights from IRDA Annual Report 2007-08 detailing the happenings in the industry. Read the highlights pertaining to agents and other intermediaries as well as about customer service parameters.