Page 4 - Life Insurance Today February 2018

&
Contents Focus

5 5 5 5 5 There has been a rise in con-
Editorial 3 sumer awareness. Courts are

more consumer friendly now
Shielding professionals from claims made and patients have sued hospitals and
against them by their clientele doctors malpractice or negligence and
- Jagendra Kumar 5 the courts have been asking doctors
and hospitals to pay for their mistakes.
Insurance Regulatory and Development If a professional is alleged to have pro-
Authority of India (Protection of Policyholders’ vided inadequate advice, services or
Interests) Regulations, 2017 13 designs to a client, professional indem-
nity insurance provides cover for the
legal costs and expenses in defending
LIC’s Jeevan Shiromani 19
the claim, as well as compensation
payable to their client to rectify the
Major announcement in BUDGET 2018-19 mistake.
relating to insurance sector 26

Income Protection Plan 18 18 18 18 18 The actual undergoing of
from Bharti Axa Life Insurance Company Limited 27 open-heart valve surgery is to
replace or repair one or more
eIncome Shield heart valves, as a consequence of de-
from SBI Life Insurance Co. Ltd 28 fects in, abnormalities of, or disease-
affected cardiac valve(s). The diagno-
sis of the valve abnormality must be
IRDAI Circular 29 supported by an echocardiography
and the realization of surgery has to
be confirmed by a specialist medical
LEGAL 31 practitioner. Catheter based tech-
niques including but not limited to,
balloon valvotomy/valvuloplasty are
Statistics 33
excluded.

26 26 26 26 26 Three public sector general in-
LIC News 36

Private Life News 38 surance companies National
Insurance Company Ltd.,
United India Assurance Company Lim-
IRDAI News 40 ited and Oriental India Insurance Com-
pany Limited will be merged into a
single insurance entity and will be
Glossary & Poll 42 subsequently listed.

4 February 2018 Life Insurance Today

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010