Page 53 - Insurance Times March 2016 Sample

repairs. The government is bringing environmentally safe liver better services to the ageing population.

disposal of 'end of life vehicles'. Hence, code of salvage is  Sustaining the livelihoods of small landholder farmer is a
effort to categorise the major loss vehicles, so that the risk
huge challenge, especially in view of the weather re-
of undue losses remain checked.
lated risks. Integrating Crop Insurance into a broad de-

 In the present world with invention of new technology, velopment strategy is required.With regard to life insur-

insurance companies in India need to relook at their busi- ance, now with implementation of the Government's

ness models especially with regard to offering Risk Man- social security schemes including life insurance at a low

agement services to the clients, which is lacking at the premium and the insurance facility provided through

moment. Insurers and brokers can make use of new tech- banks to a large number of beneficiaries, the perceived

nology model to engage more with customers through risk of the customers about purchase of life insurance

offering Risk Management services. products would be reduced.

 The healthcare needs of ageing population are quite dif-  The conference provided a platform to all those present

ferent from that of other segments of the population. including senior industry professionals, panelists, stu-

The healthcare delivery mechanism needs to incorpo- dents and delegates from various organizations to inter-

rate palliative care, home care and hospice care to de- act with each other and build networking.

Exemption from GST will help in universal health coverage

An apex body of the healthcare sector has urged the government to exempt healthcare services from Goods and Ser-
vices Tax (GST), increase tax exemption on preventive health checkup and set up healthcare infrastructure medical
innovation funds. Healthcare Federation of India (Nathealth) said exemption from GST will help in achieving the goal
of universal healthcare coverage.

"GST, once implemented, would put various sectors under the purview of service tax. Healthcare is currently exempted
from service tax and this should continue after the GST regime at least for a period of ten years and only thereafter
should a decision to levy service tax be considered, after assessing the status of healthcare coverage, costs and perfor-
mance on key healthcare metrics," Nathealth Secretary General Anjan Bose said in a statement. The healthcare body
also recommended the government to withdraw service tax on health insurance premium. Nathealth president
Sushobhan Dasgupta said, "We have urged the government to increase the depreciation rate applicable on medical
and pathological equipment and medical devices from 15 to 30 per cent."

Insurance Quiz

Q1. What was the global reinsurance capacity for 2015 according to Aon Benfield?
Q2. Name the Associate Partner of law firm Khaitan & Co.
Q3. Apollo Munich is set to launch ________, which covers 8 critical illnesses treated abroad.
Q4. Net incurred claims of non-life insurers collectively increased by 12% to _______ crore in 2014-15 from

_______crore in 2013-14.
Q5. How much has LIC invested in domestic equity markets so far in 2015-16?
Q6. Who is the present MD and CEO of HDFC Life?
Q7. The climatic phenomenon known as _______ had helped to reduce the development of hurricanes in the

North Atlantic last year.
The answers of the quiz are from this issue itself. Just go through our journal and you will find the answers. Send your answers
by Email to info@sashipublications.com and you can get a chance to win an attractive gift. The gift will be offered to the
person giving all the correct answers. If we receive more than one entry with all correct answers the name of winner will be
drawn from lottery. The last date of receipt of entry is 24th March, 2016.
So Hurry and Submit your entry at the earliest !!!!

The Insurance Times, March 2016 53