Gift of Protection: As time passes, roles often reverse in the relationship between parents and children. The same father who once protected us from life’s uncertainties may now need that same shield. This Father’s Day, instead of a conventional gift, why not present him with something truly meaningful — the gift of insurance? In a…
GST on Health Insurance Premiums: In a much-anticipated move, the central government is considering a proposal to reduce the GST on health and term insurance premiums from the current 18% to just 5%. This landmark decision could be finalized in the upcoming GST Council meeting, expected before the Monsoon Session of Parliament 2025. If implemented,…
AU Small Finance Bank Partners: In a landmark move poised to strengthen financial inclusion and deepen insurance penetration across India, AU Small Finance Bank (AU SFB) has officially partnered with the Life Insurance Corporation of India (LIC) — the country’s largest life insurer. This collaboration aims to bolster the Government of India’s vision of “Insurance…
Air India Crash May Trigger $475 Million Insurance Claims: India is grappling with one of its worst aviation tragedies in over a decade, as the recent Air India crash is projected to result in insurance claims of up to $475 million. This devastating incident, which claimed hundreds of lives including passengers, crew members, and people…
Insurers Likely to Prefer Bond Forwards: The insurance industry in India is witnessing a significant shift in interest-rate risk hedging strategies. The Insurance Regulatory and Development Authority of India (IRDAI) has recently allowed insurers to undertake bond forward transactions, a move that is expected to replace the traditional use of forward-rate agreements (FRAs). This regulatory…
Banks & Insurance Mis-selling: In a significant move aimed at protecting Indian consumers from misleading financial practices, the Department of Financial Services (DFS) Secretary M Nagaraju has issued a stern warning to banks regarding the mis-selling of insurance products. Addressing an event announcing a strategic partnership between the Central Bank of India and Generali Group…
