India’s RSBY program taking advantage of consumers

India life insurance

RSBY program subject to World Health Organization study India may be home to a robust health insurance market, but its consumers may be falling victim to exploitation, according to a new study sponsored by the World Health Organization. The study focuses on the Rashtriya Swasthya Bima Yojana (RSBY) program, which is a health insurance initiative sponsored by the Indian government. The RSBY program is designed to provide poor citizens with access to health insurance policies that are affordable, yet comprehensive. Consumers may actually be paying much more for this insurance…

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Insurance News: South Korea halts purchases of oil from Iran

Iran Oil Insurance industry News

Despite insurance coverage, South Korea nixes Iran oil purchases In insurance news headlines today, South Korea has halted its purchases of oil from Iran as the countries refiners lose access to their insurance coverage due to sanctions from the European Union. The EU instituted sanctions against Iran were enacted earlier this year and prevent ships carrying Iranian oil from receiving insurance coverage. The maritime insurance industry, much of which is represented by the United Kingdom, expressed concerns over the sanctions but quickly complied as the measures were enacted. South Korea…

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India seeks alternatives to European maritime insurers as EU sanctions on Iran loom

As the European Union prepares to impose sanctions on Iran and breaks its trade agreement with the nation, the maritime insurance industry is facing a bleak and complicated future. Insurers will not be the only ones to suffer from the move, however, as countries that depend on oil from the Middle East will also feel the impact of the action. Even countries that do not rely on Iranian oil are claiming that the EU’s actions will have a major effect on their economies. Such is the case in India, where…

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Berkshire India announces intentions to sell either health or life insurance

A branch of Berkshire Hathaway – a firm owned by Warren Buffet – called Berkshire India has announced that it will be selling either Bajaj Allianz life or health insurance products to consumers in India. Bajaj Allianz corporate agent, Berkshire India is already providing retail customers with online travel and auto insurance products through its distribution website. However, according to Arun Balakrishnan, the CEO of BerkshireInsurance.com, within the upcoming six months, the insurer plans “to launch one more product which would be either health insurance or term life product.” Their…

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