The central government has expanded the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY) to provide health coverage to people aged 70 years and above, regardless of their income level.
The board of directors of Mumbai-listed non-bank financial services company Sunshine Capital has decided to move forward to expand the company's operations into insurance broking.
The GST Council has arrived at a broad consensus on reducing or removing GST on health and life insurance premiums from the current 18%, but a final decision would be taken in the next meeting.
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular as part of its moves towards reinforcing empowerment of policyholders.
The Finance Ministry is planning to raise INR47bn ($797m) by divesting a 6.78% stake in listed General Insurance Corporation of India (GIC) through an Offer for Sale (OFS).
The season of festivals in India for the year that began with Krishna Jayanti celebrations on 25 August 2024 will also bring a short-term bonanza for insurers who provide short-term insurance covers for the organisers and participants celebrating these festivals. Krishna Jayanti will be followed by Ganesh Chaturthi, Durga Pooja, Dussehra, Deepawali and many more until the year end.
Insurance Regulatory and Development Authority of India (IRDAI) has set up a task force to solve the bottlenecks and drive the growth of surety bond insurance in the Indian market. The task force comprises representatives from insurance companies, banks and reinsurers.
Indian health insurer, Star Health Insurance, has launched an industry-first braille version insurance policy tailored for individuals with 40% or more disability and initiated income generation opportunities for them.
Insurance companies are seeing a boost in demand for professional liability insurance (PII) in the healthcare field, according to CoverYou CEO and co-founder Deepanker Mahajan, an insurance broker dedicated solely to the healthcare industry.
Tata AIA Life Insurance (Tata AIA) has launched its offshore branch at Gujarat International Finance Tec-City (GIFT City), India's first International Financial Services Centre (IFSC). It allows the company to offer US Dollar-denominated life insurance products to Non-Resident Indians (NRIs) through its dedicated website.