10 factors to consider before buying a car insurance policy

Car insurance is an insurance plan that offers the needful financial cover to the vehicle against different forms of damages, theft, stolen and the third party liability as well. While having a valid car policy is must, one should be mindful before buying it.

Here are key factors to consider before buying a car insurance policy:

Coverage

Different insurance products offer different coverage. Hence,

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COVID-19 impact: Here’s why insurance may never be the same again

The insurance companies too have now started to create products for a world where such virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.

At a larger scale, the introduction of pay-as-you-use is probably a significant shift in the history of motor insurance in India as it seeks to become more responsive to the usage (and consequently) needs of the customers. (Image source: Getty) 

Recent outbreak of diseases like COVID-19 has led to more awareness among people

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Auto Insurance For Extended Road Trips

Road trips are all the rage. But is your auto insurance ready for a long drive?

Finding the best auto insurance for extended road trips is more important than ever. A majority of Americans planned to drive to their vacation destinations this summer. Among those traveling, 72% of respondents said they’d be driving their own car to a summer getaway, according to a recent Generali Global Assistance

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The Importance of Insurance in Construction Projects

Insurance is a vital risk mitigation tool in construction projects. Whether insurance is taken out due to a statutory, regulatory or contractual requirement or as an additional measure of protection, parties cannot afford to go without it.

In this bulletin, we consider the role of insurance, important insurance considerations and common types of insurance cover in construction projects.

Risk

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Insurance: How digital health records can help insurers as well as the insured

No insurance scheme can remain sustainable by making some people subsidise the premiums payable by the people with some major ailments (or history of major ailments). That affects the health of the insurance companies severely. Incurred claims ratios of health insurance industry is as high as 89.34% (according to Irdai annual report), with all PSU insurers suffering underwriting losses.

By Nirjhar Majumdar

The government is all set to launch National Digital Health Mission (NDHM) which enables all citizens to possess digital health records. Unique Health ID will be allotted to each person and a Health Card will also be issued facilitating people to share the data with healthcare providers anywhere in the country and get the necessary medical attention. While this should usher in a new era in the healthcare

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Revealed – what may happen to insurance employment in the next 12 months

A new report from The Jacobson Group and Aon has found that the insurance industry is set for slow, but steady employment growth over the next 12 months.

Jacobson and Aon’s semi-annual Insurance Labor Market study revealed that insurers plan to maintain or increase hiring as 2020 continues – 83% of companies surveyed said that they plan to maintain or increase staff during the next year.

However, that growth will not come easy, as insurers also indicated that they expect the difficulty in recruiting new employees to persist – despite industry unemployment being somewhere around 4.8%, the study noted.

Key

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COVID-19: Evolving Insurance and Risk Management Implications

The COVID-19 pandemic continues to spread, having far-reaching effects on lives, businesses, and economies worldwide. Local and national governments are escalating measures aimed at stemming the reach of the virus and mitigating its disruptive impacts. Similarly, many companies are looking to protect their people and enhance their resilience while seeking potential responses to ongoing financial

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Data shows dramatic decrease in motor accident injury claims

The one silver lining from recent months might be that the diminished presence of drivers on the road has resulted in less auto accidents. In fact, due to the coronavirus pandemic, the number of motor accident injury claims fell dramatically between April and June, according to data released by the Compensation Recovery Unit (CRU) in response to a Freedom of Information (FOI) request from the

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