THE INSURANCE TIMES - November 2024

In this issue

In this issue we have covered articles on - Risk Management 2.0 in the new Gen Z Milieu - Rajul Jain; Exclusion clauses in Insurance Contract: Enforceability and Interpretation - Ravi Ranjan Kumar Rana; How various insurtech startups are addressing the challenge of low market penetration in the Indian Life insurance sector - Neeraj Kaushik; Gunford: Marine Insurance Fraud or Purely Coincidence!! - Dr. Soumi Mukherjee.
Interview with Dr Anil Subba Rao Paila, Vice Chancellor, IMS Unison University.
We have covered news on General Insurance, IRDAI News, LIC News, Health Insurance News, Private Life Insurance News and International News.

Besides it covers other interesting features.

General Insurance News

PM's Principal Secretary Advocates for Broader Insurance Coverage Across All sectors

10 mins

Insurance Regulator Update

Panda encourages more conglomerates to enter Insurance Sector

4 mins

Health Insurance News

100 Hospitals Achieve Digital Certification from NABH

7 mins

Life Insurance News

About 7 crore people have subscribed to the Atal Pension Yojana (APY) whose corpus has swelled to Rs 35,149 crore, Finance Minister Nirmala Sitharaman said.

6 mins

International News

Growing demand in Europe: Munich Re remains disciplined while further expanding

5 mins

Risk Management 2.0 in the new Gen Z Milieu

I notice that the world has significantly changed over the last five years due to black swan events (like Covid-19), geopolitical upheavals affecting supply chains (like situation in Middle east and Eastern Europe) and tech advances (like Al, robotics) have reshaped the risk landscape. Risk professionals must now adapt faster than ever to navigate these disruptions to ensure business resilience.

2 mins

Exclusion clauses in Insurance Contract: Enforceability and Interpretation

The terms of the insurance contract require strict construction without eschewing or adding the words in the contract. However, insurers are exempted from any liability where the loss is attributable to an excluded peril specified in the exclusion clause or not mentioned in the covered causes/perils/risks/loss.

10+ mins

How various insurtech startups are addressing the challenge of low market penetration in the Indian Life insurance sector

India's life insurance sector, despite being one of the largest markets in the world by population, faces a significant challenge in terms of market penetration. With a penetration rate hovering around 3% of GDP, it's clear that a vast majority of Indians remain either uninsured or underinsured.

4 mins

Gunford: Marine Insurance Fraud or Purely Coincidence!!

Global Maritime trade is affected hugely by the policies of maritime insurance being followed in various nations. An insurance policy is a contract in which an individual or entity (known as an insured) receives monetary reimbursement against losses, emerging from the occurrence of an event, from an insurance company (known as an insurer), generally in exchange for a premium.

10+ mins

New Product Launches

Canara HSBC Life Insurance unveils new plan combining life protection and wealth creation

5 mins

Insurance Caselaws

The Himachal Pradesh State Commission orders Oriental Insurance Co. to pay Rs. 7.9 lakhs for repudiating an insurance claim solely because of delayed notification.

5 mins

IRDAI Corner

Insurance Regulatory and Development Authority of India (Insurance Fraud Monitoring Framework) Guidelines, 2024

4 mins

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THE INSURANCE TIMES Magazine Description:

The Insurance Times, which will be completing glorious 42nd year of successful and regular publication in 2022, is the most authentic information source on insurance in India.

The Insurance Industry under the new regulatory setup is moving forward aggressively.
Every month, the journal covers informative articles and features on both general insurance and life insurance. Besides regular columns for Insurance Regulators, Brokers, Bancassurance, legal, surveyor, agents, students etc; it brings you the latest and updated news of the Indian as well as overseas insurance industry.

Regular features on risk management and safety also keep you abreast of the latest risk management techniques. 

We regularly review the policies issued by life and non-life companies including comparisons of various products.

A special emphasis is given on marketing of insurance both life and general. This journal is a must for all persons connected with insurance companies, corporate bodies, brokers, banks, surveyors, agents, consultants, students, educational institutions and professionals.