Published: 14-May- 2017 | Category: Briefings
| Comments: 0
Motor insurance premiums for third-party liability, which is mandatory in India, is likely to increase by 50% in a few cases, according to a report in Mint.
The report added that the Insurance Regulatory and Development Authority of India (IRDAI) has proposed an increase of up to 50% in the third-party liability premiums of motor insurance. The premiums are raised each year, primarily to rein in the claims ratio.
Claims ratio is the ratio of net claims to net premiums. Therefore, the industry is currently paying more to settle third-party claims than what it is receiving for third-party insurance.
Please read more here: http://www.livemint.com/Money/vBwn9gIrE12VC3cLchT30O/Rising-thirdparty-insurance-premiums.html
Group mediclaim premiums likely to rise
An article in the Economic Times said that group health insurance premiums may go up as the insurance regulator becomes stricter about disclosures to end subsidization by individual payers.
The Chairman of Insurance Regulatory and Development Authority of India (IRDAI), TS Vijayan, recently said the regulator was planning to ask companies for segmental reporting of balance sheets to show which segment was making losses, the article further said.
Read more at: http://economictimes.indiatimes.com/articleshow/57725749.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
insurance: Group mediclaim premiums likely to rise - The Economic Times
GST: Centralized assessment for service-oriented industries likely
The business newspaper, Mint, reported that Goods and Service Tax (GST) council, is considering setting up a centralized assessment interface for service-oriented industries, such as banking, telecom, insurance, and information technology, according to two officials familiar with the discussions in the GST council.
A common pool of officers drawn from the centre and the states can carry out the assessment for certain service sectors. This would ensure a single interface for these sectors, according to the proposal being discussed in the council.
Please read more here: GST: Centralized assessment for service-oriented industries likely - Livemint
National Health Policy aims at assured healthcare to underprivileged: Union Minster J P Nadda
The Union Health and Family Welfare Minister J P Nadda on Thursday said the National Health Policy’s aim is to provide healthcare to all, particularly the undeserved and underprivileged, according to the Economic Times.
Presenting the National Health Policy in the Lok Sabha, Nadda said the policy proposes raising public health expenditure to 2.5% of the GDP in a time-bound manner.
We are making policy patient centric, making patient empowered regarding redressal and treatment. We will develop standards; if treatment is not done properly then tribunals will be set up to take the matter,” he said.
Please read more here: http://health.economictimes.indiatimes.com/news/policy/national-health-policy-aims-at-assured-healthcare-to-underprivileged-union-minster-j-p-nadda/57668733