New mandatory cashless health insurance requirement implemented in Punjab

india online senior cashless health insurance

The government of the northern Indian state has now announced that this program is mandatory for its employees. The Punjab government has now announced that it is making its cashless health insurance program a mandatory form of coverage for all of its employees as well as for pensioners. The strategy is meant to help to make sure that coverage is protecting current and retired workers. According to a spokesperson from the Punjab government, it “has notified the cashless health insurance scheme which has been made mandatory for all the government…

Read More

Indian government approves ordinance for the insurance industry

india flag insurance industry

Ordinance aims to allow foreign companies to hold a stronger position in the Indian insurance industry The Indian government has been mulling over an ordinance concerning the insurance industry for some time. The issue involves allowing foreign insurance companies to hold greater ownership over local domestic insurance endeavors. Some lawmakers had suggested that this would be a bad move for the domestic market, making it more difficult for domestic companies to compete in India or changing how these companies operate altogether. Supporters of the measure suggested that foreign companies could…

Read More

South Asian Insurance industry suffering massive losses from cyclones

south asian Insurance industry India

Weather coverage segment may be seeing loss ratios as high as 100 percent. Damage to crops that has occurred as a result of cyclones could be leading to higher loss ratios in the weather South Asian insurance industries, with predictions that they could be as high as 100 percent, this year. Cyclone Phailin has caused a tremendous loss ratio this year when it struck in October. The crop damage that was caused by Cyclone Phailin when it struck the coast of Orissa and Andhra Pradesh early in October may lead…

Read More

Liability insurance demand is increasing in India

Companies are experiencing exponential increases in the number of lawsuits and need protection. In India, businesses are experiencing an increase in the number of lawsuits that are filed against them, at a rate of 30 to 40 percent per year, which has caused companies to flock to their insurers to purchase liability insurance. This has boosted demand in that sector at a staggering rate, with an estimated growth of 10 to 20 percent annually. Among the more popular forms of liability insurance that businesses are purchasing include credit, director and…

Read More