Page 56 - Insurance Times January 2018 Sample

Poll are losing steam
Glossary Do you think Pradhan Mantri Health Schemes

Results of Poll in our December 2017 Issue
Yes
Do you think IRDA should expedite the hearing
No against Insurance Companies and Intermediar-
Can’t say ies and announce its verdict within a reason-
able period

Coinsurance
A clause contained in most property You may send your views to : Yes 100
insurance policies to encourage policy Poll Contest, The Insurance Times
holders to carry a reasonable amount 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 00
Phone : 2269 6035, 2218 4184, 4007 8428
of insurance. If the insured fails to Can’t say 00
Email: insurance.kolkata@gmail.com
maintain the amount specified in the
clause (Usually at least 80%), the in- Aadhaar, PAN to be linked to insurance policies by
sured shares a higher proportion of the
loss. In medical insurance a percentage March 31
of each claim that the insured will bear.
India's insurance regulator on Monday extended the time to link Aadhaar
Collar number to insurance policies till March 31, 2018. In a circular issued to all
An agreement to receive payments as the life, non-life (including standalone health insurers) the Insurance Regula-
the buyer of an Option, Cap or Floor tory and Development Authority of India (IRDAI) said the date of submission
and to make payments as the seller of of the Aadhaar Number and Permanent Account Number or Form 60 by cli-
a different Option, Cap or Floor.
ents to reporting entity is March 31, 2018.
Collateral Loans The Irdai cited the central government's gazette notification on December
Unconditional obligations for the pay- 13, relating to Prevention of Money-Laundering (Maintenance of Records)
ment of money secured by the pledge
of an investment. (Seventh Amendment) Rules, 2017. On November 8, the Irdai had directed
the insurers to link Aadhaar and Pan Card numbers with insurance policies.
Combinations "These rules have statutory force and, as such, life and general insurers (in-
A special form of package policy com- cluding standalone health insurers) have to implement them without await-
posed of personal automobile and
homeowners insurance. ing further instructions," the Irdai had said in a statement.

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56 The Insurance Times, January 2018

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