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Life insurance companies see 5-10x surge in Covid claims in April


Life insurance companies see 5-10x surge in Covid claims in April
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Life insurance companies see 5-10x surge in Covid claims in April
TNN / Updated: Jun 14, 2021, 09:01 IST
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MUMBAI: The second wave of Covid has pushed up claims for life insurance companies by 5-10 times for April 2021. This follows 1.9 lakh Covid-related deaths since April 1, 2021, which is 17% higher than lives lost to the pandemic in the entire FY21.
“Life insurers, while making Covid reserves last year, assumed 50–100% higher Covid-related deaths for FY22. Our analysis shows that reserves made by them can cover 1.5–2x the Covid-related deaths in FY21,” said a report by Macquarie. ....

Suresh Ganapathy , Macquarie Research , Life Insurance , Business News , Sbi Life , Icici Prudential Life Insurance , Hdfc Life , சுரேஷ் கணபதி , மக்வரீ ஆராய்ச்சி , வாழ்க்கை காப்பீடு , வணிக செய்தி , ஸ்பி வாழ்க்கை , இஸிசீ விவேகமான வாழ்க்கை காப்பீடு , எச்டிஎஃப்சி வாழ்க்கை ,

IRDAI imposes Rs 24 lakh fine on Policybazaar for violating ad norms


IRDAI imposes Rs 24 lakh fine on Policybazaar for violating ad norms
The matter relates to Policybazaar sending SMS between March 15, 2020, and April 7, 2020, to its customers without stipulating its full registered name in the message
PTI | May 21, 2021 | Updated 08:58 IST
Insurance sector regulator IRDAI has slapped a fine of Rs 24 lakh on policy aggregator Policybazaar for violating advertisement norms with regard to SMS sent to customers last year about the increase in term insurance policy premiums. The matter relates to Policybazaar sending SMS between March 15, 2020, and April 7, 2020, to its customers without stipulating its full registered name in the message.
The web aggregator had sent SMS to about 10 lakh customers telling them that life insurance prices are set to increase from April 1 and that they could save up to Rs 1.65 lakh by buying a term plan. The Insurance Regulatory and Development Authority of India (IRDAI) levied three charges on Policyba ....

Trai Telecom Regulatory Authority Of India , Development Authority Of India , Insurance Regulatory , Development Authority , Telecom Regulatory Authority , Insurance Regulatory And Development Authority Of India , Policy Bazaar , Policybazaar Irdai Fine , Policybazaar Ads Irdai Fine , Policybazaar Ads , Policybazaar Sms , Hdfc Life , Tata Aia Life , Icici Prudential , திரை தொலை தொடர்பு ஒழுங்குமுறை அதிகாரம் ஆஃப் இந்தியா , வளர்ச்சி அதிகாரம் ஆஃப் இந்தியா , காப்பீடு ஒழுங்குமுறை , வளர்ச்சி அதிகாரம் , தொலை தொடர்பு ஒழுங்குமுறை அதிகாரம் , காப்பீடு ஒழுங்குமுறை மற்றும் வளர்ச்சி அதிகாரம் ஆஃப் இந்தியா , பாலிஸீ பஜார் , எச்டிஎஃப்சி வாழ்க்கை , டாடா ஐயா வாழ்க்கை , இஸிசீ விவேகமான ,