NEARLY a third of all insurance claims registered and outstanding in FY2024 remain unpaid, data of Insurance Regulatory and Development Authority of India (IRDAI) reveals. A related survey also shows that despite the regulator's changes to improve service standards, policy owners still face myriad problems.
The insurance regulator's report reveals that insurers registered over 3 crore claims during the year for ₹1.1 lakh crore, in addition to the 17.9 lakh claims for ₹6,290 crore outstanding from earlier years.
Of these claims, insurers paid nearly 2.7 crore claims, amounting to ₹83,493 crore. This represents 82% of the reported claims by volume and 71.3% by value. Of the claims that were not paid, ₹15,100 crore worth were "disallowed according to terms and conditions of the policy contract".
The IRDAI sought to bring in changes to improve insurance services in June 2024 after LocalCircles, a community social media submitted a report highlighting the slow health insurance claim processing.
Bu hikaye The New Indian Express Sambalpur dergisinin January 03, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The New Indian Express Sambalpur dergisinin January 03, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Forest close gap on Liverpool
NOTTINGHAM Forest beat Wolverhampton Wanderers 3-0 away from home and moved within six points of Premier League leader Liverpool on Monday.
India Open: Hosts to field 21 players
STAR shuttlers Lakshya Sen and PV Sindhu will headline host India's largest-ever contingent of 21 players at the Yonex-Sunrise India Open Super 750 badminton tournament, starting here from January 14.
Bahadur Singh elected new AFI chief, Mehta secretary
THE Athletics Federation of India (AFI) has ushered in changes after Adille Sumariwalla finished three four-year terms as president. Even the secretary's post will see a new official.
Cannot ever rule Djokovic out of title race: Sania
DESPITE entering the Australian Open field as No 7 seed, Novak Djokovic's lowest since 2018, former Grand Slam champion Sania Mirza believes that one cannot count the experienced player out yet.
HIL: Lancers secure first win of the season
THE Kalinga Lancers secured their first win of Hero Hockey India League (HIL) 2024-25 as they hammered the Shrachi Rarh Bengal Tigers 6-0 at the Birsa Munda Hockey Stadium in Rourkela on Tuesday.
Last Chance Saloon For Sharma, Kohli?
Focus will be on the duo when ODI squad for England series is announced in the next few days
First MOC meeting of year discusses LA 2028
THE first Mission Olympic Cell meeting of the year was held at the Major Dhyan Chand National Stadium on Tuesday but there were no serious discussions about Target Olympic Podium Scheme (TOPS) weeding out or additions.
CoinSwitch to Launch ₹600 Cr Recovery Plan for Hack Victims
CRYPTO platform CoinSwitch has launched a ₹600 crore recovery programme to help users impacted by cyberattack on WazirX.
Misbranded cigarette smuggling into India causes annual revenue loss of ₹21k cr
SMUGGLING of misbranded cigarettes from south-east Asian countries into India causes an annual tax revenue loss of ₹21,000 crore, apart from helping finance terrorism, India's biggest cigarette manufacturer has cautioned in a letter to the Union finance ministry, sources said.
DPDP Rules prioritises good governance
PRIME Minister Narendra Modi on Tuesday said the Draft Digital Personal Data Protection Rules, 2025, prioritises commitment to citizen-centric governance.
