The Insurance Reporter

Breaking news, policy shifts & market moves in insurance. Clarity in a complex industry. 📊

[The Insurance Reporter @insurancerepot]

BIG BREAKING NEWS FROM 57th GST COUNCIL MEETING

RELIEF FOR EMPLOYERS

GST COUNCIL APPROVES INPUT TAX CREDIT ON HEALTH & LIFE INSURANCE PREMIUMS PAID BY COMPANIES FOR EMPLOYEES

#Insurance #GSTCouncil

[The Insurance Reporter @insurancerepot]

⚖️ SC refuses to quash case against cybersecurity researcher Himanshu Pathak over the Star Health data breach, letting it proceed to trial. 🔍

Read article: https://t.co/hTvJHz4Gjm

#StarHealth #CyberSecurity #DataPrivacy

[The Insurance Reporter @insurancerepot]

⚖️ Chandigarh Commission orders ₹60 lakh payout, ruling a hospital note on "alcohol history" doesn't prove intoxication at the time of a fatal accident. 📋

Read article: https://t.co/JCo9XKzTyU

#Insurance #ConsumerRights

[The Insurance Reporter @insurancerepot]

🚨 BREAKING: IBAI writes to PM Modi, warning IRDAI's distribution overhaul could risk 10 lakh+ livelihoods over 5 years. Seeks impact assessment & meeting before Oct 25.

Read article: https://t.co/hWdL3OqcXc

#IRDAI #Insurance #IBAI

[The Insurance Reporter @insurancerepot]

🏥 ManipalCigna launches Infinix — health insurance with unlimited sum insured once base ₹10L cover is used up. Covers up to 8 family members, unlimited tele-consultations. 🩺

Read article: https://t.co/vClVEbvUib

#HealthInsurance #ManipalCigna

[The Insurance Reporter @insurancerepot]

Policybazaar can survive even a "zero commission world," says PB Fintech Chairman Yashish Dahiya — adds the company will comply with IRDAI's proposed commission overhaul "in letter and spirit."

Read article: https://t.co/49Q8NCCeOa

#IRDAI #Insurance #Policybazaar

[The Insurance Reporter @insurancerepot]

⚖️ BMW owner wins ₹70.75 lakh after a decade-long fight. Commission rules insurer can't reject a fire claim over an unattended vehicle, nor cut IDV via depreciation at claim stage. 🚗

Read article: https://t.co/bGdC8ov132

#MotorInsurance #Insurance

[The Insurance Reporter @insurancerepot]

🇺🇸 Trump announces one-time $90 payments to 20M+ Medicare Part B enrollees, funded via the Medicare Improvement Fund. Covers less than half the $202.90 monthly premium. 💵

Read article: https://t.co/T2jiCPw6Pp

#Medicare #Insurance #Trump

[The Insurance Reporter @insurancerepot]

⚖️ Kurnool Consumer Commission orders ICICI Lombard to pay ₹50 lakh accident claim + compensation, after insurer demanded docs not required at proposal stage. 📋

Read full article: https://t.co/hmNJv6I0Cg

#ICICILombard #Insurance

[The Insurance Reporter @insurancerepot]

🏥 Non-life insurers may introduce a mandatory 10% co-payment on retail health claims from Jan 2027, capped at ₹5L/claim. Can't be waived via riders or offset by another policy. ⚖️

Read article: https://t.co/Ig0Mb3kyBT

#HealthInsurance #Insurance #IRDAI

[The Insurance Reporter @insurancerepot]

💰 IRDAI proposes premium payments only from the policyholder's own bank account — cutting out distributors routing money on customers' behalf. 🏦

Read article: https://t.co/ZtGUnH939j

#IRDAI #Insurance

[The Insurance Reporter @insurancerepot]

💰 Jio Financial & Allianz Europe each infuse ₹320.05 cr into Jio Allianz General Insurance, taking total fresh capital to ₹640.1 cr. Funds earmarked for business operations as the JV preps to scale up.

Read article: https://t.co/nkrb5D1DgN

#Insurance #JioFinancial #Allianz

[The Insurance Reporter @insurancerepot]

📱 BSNL now offers free ₹1 lakh accidental-death cover & ₹10,000 cyber-fraud protection on select prepaid plans, via Oriental Insurance. Auto-activates within 24 hrs of recharge. 📲

Read article: https://t.co/iZOH8m8Hdc

#Insurance #BSNL

[The Insurance Reporter @insurancerepot]

HDFC Bank appoints Anup Bagchi, current MD & CEO of ICICI Prudential Life, as its next MD & CEO. RBI-approved 3-yr term from Oct 27, 2026, succeeding Sashidhar Jagdishan.

Read article: https://t.co/DPUBORoEET

#HDFCBank #Insurance #ICICIPrudential

[The Insurance Reporter @insurancerepot]

🚨 BREAKING: HDFC Bank appoints ICICI Prudential Life CEO Anup Bagchi as MD & CEO for 3 years, effective Oct 27 — succeeding Sashidhar Jagdishan. Bagchi grew ICICI Pru Life's APE past ₹10,000 cr in FY25. 🏦

#HDFCBank #Banking #AnupBagchi

[The Insurance Reporter @insurancerepot]

🎙️ IRDAI Chief Ajay Seth: "Mis-selling is arising because upfront commissions are too high." Says cost-efficiency gains must pass to customers — better returns, better claim ratios, and lower/slower premium hikes.

Read article: https://t.co/x1DX4wldXf

#IRDAI #AjaySeth

[The Insurance Reporter @insurancerepot]

BIG BREAKING

MGA framework is for foreign insurers, not domestic insurance distribution companies, says IRDAI chairman Ajay Seth.

#Insurance

[The Insurance Reporter @insurancerepot]

⚠️ IBAI (798 brokers) warns IRDAI's proposed commission caps & EoM cuts could trigger job losses & hurt Tier II/III distribution. Urges retaining the 2023 framework instead. Response due Oct 25. 📊

Read article: https://t.co/7xFnE8uTwM

#IRDAI #Insurance #IBAI

[The Insurance Reporter @insurancerepot]

📉 Bernstein cuts PB Fintech target 53% to ₹1,085, keeps "Outperform." Calls next 18 months "do-or-die" amid harsher-than-expected IRDAI commission caps. Still bullish beyond FY28. 📊

Read article: https://t.co/tqKUJeq4GH

#PBFintech #IRDAI #Insurance

[The Insurance Reporter @insurancerepot]

CCI clears BNP Paribas Cardif's acquisition of a 26% stake in IndiaFirst Life from Warburg Pincus, valuing the insurer at ₹10,000+ cr. New structure: Bank of Baroda 65%, BNP Paribas Cardif 26%, Union Bank 9%.

Read article: https://t.co/qOw1xOeYBY

#IndiaFirstLife #BNPParibas