Business
THE INSURANCE TIMES
Electric Revolution: Insurance in the Era of Electric Vehicles
EVs are renowned for their advanced software algorithms that control various functions. It is essential to note that when the EVs connect to charging stations, the cable not only transmits power but also exchanges a multitude of data. This expanded risk surface increases the vulnerability to potential cyberattacks, which could involve data theft or the introduction of viruses to manipulate the system.
10+ min |
July 2024
THE INSURANCE TIMES
Underwriter Co- Pilot
Future of Insurance Underwriting with Generative Al
6 min |
July 2024
THE INSURANCE TIMES
"The insurance industry in India is looking positive due to economic growth, driven by increased awareness, digital transformation, and government initiatives.Because of low penetration rates, there's a substantial opportunity for expansion."
Interview with Sharad Bajaj, COO, of InsuranceDekho.com
5 min |
July 2024
THE INSURANCE TIMES
Legal Update
Neeraj Kumar obtained a whole-life unit-linked insurance policy from PNB MetLife India. Under the policy called \"Met Smart Plus Policy\", which Kumar purchased, his son was insured for Rs 1.75 crore. The policy had a term of 93 years for which the premium was Rs 5 lakh per annum.
2 min |
July 2024
THE INSURANCE TIMES
Rising Insured Losses: Strategies for Effective Water Damage Restoration
Natural disasters caused a staggering global economic loss of US$270 billion last year, with insured losses reaching US$111 billion.
1 min |
July 2024
THE INSURANCE TIMES
Business Interruption Beyond Physical Damage
The purpose of NDBI insurance coverage is to offer financial protection to businesses when their operations are interrupted or suspended due to non-physical loss or damage. Like traditional Bl insurance, NDBI insurance covers a broad range of losses, including loss of income, extra expenses, loss of property or equipment use, loss of market or reputation, and loss of key employees.
8 min |
July 2024
THE INSURANCE TIMES
Drilling Oil Rig Cendor Mopu, Marine Insurance-Inherent Vice A Boon or Loss - Historical Maritime Fraud
Causation is a very important part in marine insurance law. The general principle in English Law is that the insurer will only be liable for any loss, which is proximately caused by a peril insured against. (Marine Insurance Act, 1906, section 55). At the beginning of last century, the determination of the proximate cause in common law was considered to be the nearest in time.
10+ min |
July 2024
THE INSURANCE TIMES
Parametric insurance, a trilliondollar market opportunity globally in near future
Neeraj Kaushik Principal Consultant Infosys McCamish Atlanta (GA), USA
3 min |
June 2024
THE INSURANCE TIMES
Insurance Caselaws
Supreme Court: If Ship Is Sent To Sea in An Unworthy State, Insurance Company Is Not liable For Any Losses Caused By Unseaworthiness. Case title: Hind Offshore Pvt Ltd v. IFFCO General Insurance Co. Ltd.
2 min |
June 2024
THE INSURANCE TIMES
Legal update
'Go, hang self' isn't abetment to suicide: HC
3 min |
June 2024
THE INSURANCE TIMES
New Product Launches
TATA AIG debuts India’s first satellite liability insurance
4 min |
June 2024
THE INSURANCE TIMES
MV AL Quamar: Maritime Lien - Historical Maritime Fraud
A maritime lien is often described as the barnacle” attaching to a ship’s hull. A maritime lien, in respect of a particular ship, travels with that ship, irrespective of whether that ship changes ownership. Ultimately, it is the ship itself which owes obligations which may be breached. The word lien” is derived from a Latin word ligament” which means binding.
10+ min |
June 2024
THE INSURANCE TIMES
Health Plans: Is It Wise To Opt For Monthly Payments?
Insurers have started promoting monthly and quarterly premium payment modes in an effort to make health plans affordable for all.
2 min |
May 2024
THE INSURANCE TIMES
Health Insurance
Health insurance claim assistance platform ClaimBuddy has raised a $5 million investment, marking the successful closure of its Series A funding.
4 min |
May 2024
THE INSURANCE TIMES
Tele MANAS-A Comprehensive Mental Health Care Service in India: An opportunity for Health Insurance Sector
Dr. Brock Chisholm, the inaugural Director-General of the World Health Organization WHO), made a foresighted statement, in 1954, that true physical health can only exist in the absence of mental health\". After more than 60 years, not much has changed in the situation. There have probably been mental health problems throughout human history, and it can be difficult to identify a single setting that gave rise to these worries.
10 min |
May 2024
THE INSURANCE TIMES
Union Budget's emphasis on digital transformation in Life Insurance sector and how it impacts on common policy holders
\"The digital revolution sweeping through various industries has now firmly set its sights on insurance, and the life insurance sector in India is no exception.
2 min |
May 2024
THE INSURANCE TIMES
SS Armistan: Bill of Lading, Agreement, Libel or an Estopple?
\"A bill of lading BL or BoL) is a legal document issued by a carrier transportation company) to a shipper that details the type, quantity, and destination of the goods being carried. A bill of lading also serves as a Shipment receipt when the carrier delivers the goods at a redetermined destination. This document must accompany the shipped products, no matter the form of transportation, and must be signed by an authorized representative from the carrier, shipper, and receiver.\"
9 min |
May 2024
THE INSURANCE TIMES
How Fuel Cells are shaping the Indian Automobile Industry by Spearheading Green Energy Solutions towards eradicating the risk of scarcity of petro products in Hydrogen based vehicles
Fuel cell technology emerges as a promising solution, offering a cleaner and more efficient energy alternative.
6 min |
May 2024
THE INSURANCE TIMES
Boeing: Is it Really about Supply Chain?
\"The current woes at Boeing tend to get Iumped under the heading of supply chain’. There are compelling reasons as to why they do. However, there are also good reasons as some astute observers point out as to why three signals which highlight later in this article) should not get buried under the mountain of supply chain noise.\"
7 min |
May 2024
THE INSURANCE TIMES
The Evolution of Wellness-Linked Insurance Underwriting in India
Amidst the ever-shifting terrain of insurance underwriting, India is witnessing a transformative evolution, particularly in the sphere of health and wellness. Departing from traditional methods reliant on age, gender, and medical history, insurers are embracing innovative approaches that intertwine wellness with underwriting.
2 min |
May 2024
THE INSURANCE TIMES
Do the Social Media influencers create disturbance in the minds of users, in context of Insurance?
Did you know that according to a survey 72% of young adults rely on social media influencers for financial advice, including insurance?
8 min |
May 2024
THE INSURANCE TIMES
Insurance Caselaws
Reliance Nippon Life Insurance Co. Ltd. vs Gharohari Devi
5 min |
May 2024
THE INSURANCE TIMES
Legal Update
All consumer courts to hear cases online from 15 April
2 min |
May 2024
THE INSURANCE TIMES
New Product Launches
Bajaj Allianz General Insurance Unveils Privé A One-of-a-Kind Program that Provides Unparalleled Coverage and Service Excellence
5 min |
May 2024
THE INSURANCE TIMES
Interview: Johnson Varughese Chief Executive Officer WALAA Insurance Company Al-Khobar, Kingdom of Saudi Arabia
\"Establishment of the IA will accelerate the growth of the Insurance Sector as the Industry will now get focused attention. The strategy of IA is likely to be aligned with Vision 2030 and Financial Sector Development plan. Since savings is one of the pillars of Vision 2030, I hope to see a lot of emphasis on Protection and Savings Insurance Products.\"
5 min |
February 2024
THE INSURANCE TIMES
IRDAI Corner
Investments in Infrastructure Debt Funds - NBFC
4 min |
February 2024
THE INSURANCE TIMES
2023 was a watershed year for insurance sector, but there's more to come
Innovation in regulatory framework, promotion of ease of doing business while enhancing protection of policyholders’ interests and measures taken to expand the reach of insurance penetration make 2023 a year to remember in the insurance industry.
4 min |
February 2024
THE INSURANCE TIMES
The Future of Insurance: ESG as a Cornerstone of Sustainable Underwriting
As climate change, social inequality, and governance issues become increasingly prominent, insurers are recognizing the need to integrate Environmental, Social, and Governance ESG) factors into their underwriting processes. This shift not only aligns with global efforts to address pressing issues but also positions the insurance industry as a key player in promoting sustainability and a fraternity who is concerned about their ESG goals.
4 min |
February 2024
THE INSURANCE TIMES
Cancer Insurance - An Indispensible cover
Recent advances in cancer treatment have opened new treatment options, such as targeted therapy and immunotherapy, for people diagnosed with advanced-stage disease. However, these advanced treatments are costly and remain out of reach of many.
9 min |
February 2024
THE INSURANCE TIMES
Emerging Horizons: New Opportunities in Commercial General Insurance Segment
The Indian economy continues to be a beacon of growth and opportunity, attracting both domestic and foreign investments across various sectors. The country's economic reforms and ease of doing business initiatives have further improved the investment climate, fostering entrepreneurial spirit and innovation.
4 min |