MEDISEP Revamp 2025: In a major development aimed at strengthening the welfare of Kerala’s state employees and pensioners, the government-appointed expert committee has submitted its recommendations to revamp the Medical Insurance Scheme for State Employees and Pensioners (MEDISEP). The core of this proposal lies in enhancing insurance coverage from ₹3 lakh to ₹5 lakh, coupled…
Health Insurance: Health insurance has evolved into a necessity rather than a luxury in today’s world, especially given the unpredictable nature of medical emergencies. With rising healthcare costs, even a minor hospitalization can severely impact your savings if you’re not adequately insured. Yet, despite being critical, health insurance remains one of the most misunderstood financial…
Role of Surveyors Report in Insurance Claim Assessment in India: In India’s insurance ecosystem, the role of a surveyor’s report is critical to ensuring a transparent and just evaluation of claims made by policyholders. Governed primarily by the Insurance Act, 1938, along with the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015, the assessment of…
Is Travel Insurance Worth It in 2025: Traveling can be one of life’s most rewarding experiences, offering adventure, relaxation, and unforgettable memories. However, with the excitement of planning a trip comes the responsibility of preparing for the unexpected. This is where travel insurance steps in as a crucial safety net. Whether you’re dealing with canceled…
Indias Insurance Penetration Below 5%: Despite being the world’s most populous country and one of the fastest-growing economies, India’s insurance penetration still lags significantly behind the global average. According to the latest data from 2023-24, India’s insurance penetration—the ratio of insurance premium to GDP—remains below 5%, highlighting a deep-rooted issue in financial protection and risk…
New Year 2025 Resolutions: As the calendar turns to 2025, it brings with it a fresh opportunity to evaluate and improve your financial well-being. Among the most critical elements of a sound financial plan is a comprehensive health insurance policy. In today’s unpredictable world, a single medical emergency can wreak havoc on your savings and…
General Insurance Sector Faces Short-Term: The Indian general insurance sector is currently grappling with mounting short-term challenges, particularly in the first quarter of 2025. The industry witnessed a concerning 2.8% year-on-year (Y-o-Y) decline in Gross Direct Premium Income (GDPI) for February 2025, signaling a broader trend of stagnation and instability. This decline is driven by…
Australia and New Zealand Face Home Insurance Crisis Due to Climate Change: Homeowners in Australia and New Zealand are facing a growing home insurance crisis, largely driven by the escalating impacts of climate change. From devastating floods and wildfires to intense storms, extreme weather events are becoming more frequent and severe, causing billions in damages….
Acko General Insurance Fined ₹1 Crore by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI), India’s top insurance watchdog, has recently imposed a penalty of ₹1 crore on Acko General Insurance. The reason? Multiple violations of regulatory norms related to outsourcing practices and commission structures. Specifically, Acko was found to have engaged with…
