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20 November 2015 at 09:00 BST

Indian regulators move to help insurance policyholders

The Insurance Regulatory and Development Authority of India (IRDAI) says that an amendment to the Insurance Laws Act 2015 will help claimants.

Under an amendment, insurers need to raise queries with policyholders in the first three years of existence of a policy. After that they will be under much greater pressure to honour claims and pay out quickly. 

Scope for rejection

Financial planner K Naresh Kumar says: ‘This is welcome news for the policyholders as the scope for rejection of the claim is negligible post three year window.’ Source: The Hans India 


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