INSURANCE POLICY
US, Europe, Japan urge households to prepare emergency stockpiles from 7 to 10 days. Here's what you need
In response to various uncertainties, nations such as the United States, the UK, and Japan are encouraging families to build emergency stockpiles. The suggested duration fluctuates from three days to two weeks. Crucial supplies include water, canned foods, medications, and hygiene essentials. Those living in colder regions or with pets may need additional provisions. These preparedness strategies are designed to help households cope during emergencies and social upheaval.
Travel insurer says no to toenail injury treatment of 62-year-old woman injured during US visit; court orders company to reimburse over Rs 89,000 for treatment in United States and pay Rs 30,000 as compensation for mental harassment
A 62-year-old woman successfully challenged her travel insurer after it denied reimbursement for a toenail injury. She sustained the injury while closing a door during her visit to the US. After returning to India and submitting her medical bills, the insurer rejected her claim for lacking supporting records. The consumer commission ruled in favor of the woman, affirming her entitlement to partial reimbursement.
Have third-party insurance for your car or bike but no passenger cover? Here's how to add it without cancelling your policy
Exciting changes are coming to motor insurance in India! Starting December 15, 2026, policyholders can enhance their coverage with legal liability for occupants and pillion riders, in a newly structured four-layer insurance model. Learn about the options available to protect passengers and what new transparency measures will ensure better understanding for consumers.
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
Planning robotic surgery? Your health insurer may pay only 50% of the hospital bill: Know what to check
Robotic surgery is increasingly covered by health insurance in India, but not without complications. Despite having a high sum insured, policyholders must navigate sub-limits and exclusions that can significantly reduce payouts. Understanding these nuances before undergoing surgery is crucial to avoid unexpected out-of-pocket expenses when the final bill arrives.
Irdai mandates four-tier structure for motor insurance from Dec 15
Irdai will implement a four-tier structure for motor insurance covering private cars and two-wheelers. Customers will have the option to select separate covers, including mandatory third-party liability and optional personal accident cover. Existing policyholders can add occupant liability coverage without canceling their current policies.
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Should my OCI son continue his Indian health insurance policy or take a new one?
ET Wealth Reader's Query: My son recently became an Overseas Citizen of India (OCI). Earlier, he had insurance coverage in India. Should he continue that or take a new one in India?
Life insurance bought under MWP Act: Why it matters and how it can ensure greater protection for your family
Cutting through money jargon, one topic at a time. This week, Preeti Kulkarni explains how the MWP Act can ensure greater protection for your family.
How Indian investors’ portfolios are changing: From property and gold to SIPs and ETFs
Indian households are re-evaluating their asset allocations as gold holdings rise and equity investments remain stable. Recent data reveals a significant increase in household wealth, particularly in gold and real estate. Households are moving from traditional savings to market investments, notably through systematic investment plans. Meanwhile, financial behaviors are changing, with more monthly contributions being made to equities.
Cyberattacks on banks, including AU Small Finance Bank, worry insurers as claim risks rise
Cyberattacks targeting financial institutions have raised concerns about security vulnerabilities and potential losses. AU Small Finance Bank is investigating a possible data breach involving customer information stored on Salesforce. Insurers have recently reported an increase in cyber incidents affecting banks and manufacturers over the past few months. The extent of these breaches and the impacted customer count are still under investigation.
When my AI bargains with your AI: The next great bazaar may be where our agents haggle for milliseconds
AI agents are evolving from simple task execution to negotiating on behalf of users in commerce. These agents can analyze data efficiently, enabling faster negotiations and potentially better deals. Businesses are already preparing for AI-to-AI negotiations, which may reshape the landscape of commerce. While this could benefit consumers, it may also create disparities based on the sophistication of agents.
Largescale cyberattacks test the limits of insurance cover
While businesses rush to enhance their cyber insurance cover, the incidents have triggered a debate over whether existing policies adequately cover emerging cyber risks. The biggest question insurers are policyholders seem to be confronting is: who pays when a vulnerability exposes thousands of organisations to the same threat?
AU Small Finance Bank hit by a likely breach of 'limited' data
The lender is investigating a potential breach of "limited data" pertaining to its vehicle-loan customers. The data was hosted on a third-party software platform operated by Salesforce.
Why is the US Pentagon preparing for a 'doomsday' scenario? Inside America's plan to keep military bases running for 90 days without outside help
Major military bases are expected to maintain essential operations independently for at least 90 days. The reported requirements cover electricity, water, fuel and communications. The objective is to prevent military operations from being interrupted if civilian infrastructure becomes unavailable. Pentagon spokesperson Sean Parnell said military installations should not depend on standard civilian municipal infrastructure to operate national defence.
How to get maximum value when buying a budget-friendly used car
Choosing a budget car involves understanding the hidden costs that can arise post-purchase, which are often overlooked. Buyers should prioritize a thorough inspection to identify potential issues before finalizing a purchase. It is common for budget vehicles to require consumables and maintenance shortly after acquisition, so planning is essential. Inspections should include checks for paint quality, engine performance, and essential service history in order to avoid future expenses.
Bengaluru man buys health insurance for parents, pays premiums for three years, mother undergoes treatment but insurer rejects claim, gets relief in consumer court
A Bengaluru man who spent Rs 3.13 lakh on health insurance policies for his parents disputed Star Health's rejection of his mother's medical claim after she underwent endoscopy and colonoscopy procedures. He alleged that the insurer repeatedly sought documents already submitted. The Insurance Ombudsman had identified Rs 27,921 in hospital and pre-hospitalisation expenses.
Anthropic IPO: Firm uses ‘catastrophic’ word 10 times in document to highlight ‘humanitarian’ AI risks
Anthropic’s IPO filing highlights an unusual risk for investors, warning that its AI technology could pose “catastrophic or existential risks to humanity” if developed or deployed without adequate safeguards. According to Axios, more than 90 pages of the prospectus are devoted to risk factors, including concerns about AI misuse, weaponisation and autonomous systems.
Tree fell on their US home, but why did insurance reject their $85,000 claim? A court ruling reveals the costly mistake behind the dispute
A tree damaged the Cains family's home, but their fight for nearly $86,000 in repairs ended in disappointment. State Farm disputed the costs, and a court later rejected their expert's evidence over reporting errors. The case shows how mistakes in expert reports can weaken an insurance claim, even after genuine property damage.
Ather rides to profit; Pronto's US AI play
Ather Energy swung to profit in the July-September quarter. This and more in today’s ETtech Top 5.
Rail passengers opting for 45-paise travel insurance at counters must pay digitally from Oct 27
Railway passengers will need to pay for optional travel insurance through digital means starting October 27. This change follows a Supreme Court order requiring digital transactions for insurance premiums. The 45-paise premium cannot be paid in cash due to certain coins no longer being legal tender. Passengers who cancel tickets will forfeit part of the insurance premium along with other fees.
Nirmala Sitharaman reaffirms govt's fiscal discipline push, puts public debt target at 50% of GDP by 2030
FM Sitharaman linked the government's broader economic priorities -- fiscal consolidation, inflation management and currency stability -- with the need to expand employment and enterprise opportunities, particularly for women, through education, skill development and industry participation.
FCNR(B) scheme has bought India 3-5 years, but $170 billion repayment cliff looms: Uday Kotak
Uday Kotak has described India’s $130-billion-plus FCNR(B) mobilisation as a “strong insurance policy” against global shocks, but warned that repayments including interest could reach $160-170 billion over the next three to five years. He said the buffer gives India time to strengthen its economy, but should not substitute for structural reforms, investment in technology and efforts to improve domestic competitiveness.
Health insurance: 5 gaps in your policy that could leave you with a bigger bill at the time of claim
This is a global problem. A World Health Organization report found that out-of-pocket expenses for medicines and other medical products push up to 12% of households in European countries into poverty or deepen their financial hardship.
Non-life insurance to play a bigger role in financial planning over the next 25 years: ICICI Lombard
General, or non-life, insurance is expected to play a more integral role in financial planning over the next 25 years, shows an ICICI Lombard report.
NPS subscribers are less swayed by short-term market movements now, says Axis Pension Fund CEO Sumit Shukla
Axis Pension Fund intends to enhance its National Pension System offerings to provide better retirement savings options. The introduction of NPS Swasthya addresses the health insurance needs for older customers effectively. Despite tax benefits, low awareness continues to hinder corporate NPS uptake among employees. Further clarity on Tier-II NPS account taxation and extended tax deductions could encourage broader participation.
Driving licences in India may have different colours: Check all changes in plan and why
The Ministry of Road Transport and Highways (MoRTH) has proposed colour-coded driving licences for Indian and foreign nationals, mandatory blood group and emergency contact details, and stricter safe-driving assessments. Draft amendments to the Central Motor Vehicles Rules also propose a 75% passing threshold, free changes to personal details, Aadhaar-based fee waivers for select online services, and a 15-day deadline for licence updates.
Driving licence holders, take note: New rules may change your card details, documents needed & online services; check what the govt proposes
Driving licence news: The government has proposed major changes to India's driving licence rules, including colour-coded licences for Indian and foreign nationals, a higher safe-driving assessment pass mark of 75% and mandatory details such as blood group and emergency contact information. The draft also proposes stricter document verification, possible fee waivers for certain online services using Aadhaar authentication and fixed timelines for processing applications to update licence details. Here is what could change if the proposals are approved.
SBI weighs data leak impact, alerts cyber cover provider
SBI may seek a claim under a Rs 1,425-crore cyber insurance policy with Oriental Insurance following a suspected leak of customer data, people familiar with the matter told ET. "SBI is in the process of notifying the insurer about the claim," said a person aware of the development.
₹10 lakh dengue health claim rejected over 2-year waiting period for a spinal disc condition; here’s why the policyholder won
A significant ruling by the Delhi State Consumer Disputes Redressal Commission found in favor of a policyholder whose dengue hospitalisation claim was denied by HDFC Ergo due to a waiting period clause. This case highlights the importance of understanding policy exclusions and the need for insurers to substantiate their claims rejections with clear policy terms.
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