Weekly Insurance Round-up Tuesday, August 9, 2022

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We're back with the latest edition of Beshak’s Weekly News Round-up, an analysis of all Insurance News & Updates from our in-house research team.

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IRDAI, on 3rd August 2022, proposed to raise the maximum limit of the tie-up between insurers and intermediaries as well as marketing firms.
This increase is intended to provide enhanced access to the policyholders in purchasing covers.
As per the Exposure Draft – Insurance Regulatory And Development Authority Of India (Insurance Intermediaries) (Amendment), IRDAI has proposed to increase the maximum limit of tie-ups with the insurers for corporate agents from 3 to 9.
The tie-up limit for insurance marketing firms with insurers is decided to be increased from 2 to 6.
Stakeholders have until 24th August 2022 to give their suggestions and feedback to IRDAI on the draft.

Source: The Economic Times

Insurance Dekho and Future Generali have come together to offer dog health insurance coverage.
Following are the features of the pet insurance provided by Insurance Dekho:
- The policy will start with an annual premium of ₹324.
- It will offer comprehensive coverage for over 25 breeds of dogs aged 6 months to 10 years.
- The plan will cover hospitalisation expenses incurred by the pet parents including pre and post-hospitalisation expenses.
- Expenses related to terminal illness treatment and surgery will also be covered - subject to some T&Cs that may vary across insurers.
This initiative is taken keeping in mind the increase in demand for pet insurance in the Indian market.
It is believed that pet insurance in India, including cattle insurance, will see an increase of at least 14% by the end of the year 2022.

Source: LiveMint

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