{"id":8898,"date":"2025-04-07T10:26:38","date_gmt":"2025-04-07T10:26:38","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=8898"},"modified":"2025-04-07T10:30:03","modified_gmt":"2025-04-07T10:30:03","slug":"insurance-policy-regulatory-updates","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/insurance-policy-regulatory-updates\/","title":{"rendered":"INSURANCE POLICY &#038; REGULATORY UPDATES"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-8826\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2025\/03\/S.S-.jpg\" alt=\"Why India May Be Considered Better for Senior Citizens\" width=\"969\" height=\"537\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2025\/03\/S.S-.jpg 781w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2025\/03\/S.S--300x166.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2025\/03\/S.S--768x426.jpg 768w\" sizes=\"(max-width: 969px) 100vw, 969px\" \/><\/h2>\n<h2><span style=\"color: #000080;\"><em>INSURANCE <\/em>POLICY &amp; REGULATORY UPDATES<\/span><\/h2>\n<ol>\n<li>GST on Insurance Premiums : GST Council is considering reducing GST on health and life insurance premiums from 18% to 5% while retaining input tax credit \u2013 aiming to improve affordability.<\/li>\n<li>Disclosure of Existing Policies \u2013 SC Ruling : Supreme Court says non-disclosure of existing life insurance policies when buying a new one can lead to claim rejection due to misrepresentation.<\/li>\n<li>Deposit Insurance Enhancement : The coverage under DICGC might be increased from \u20b95 lakh to \u20b915 lakh for bank deposits, as proposed by the Ministry of Finance.<\/li>\n<li>Terrorism Risk Insurance : Premiums for terrorism insurance to drop by ~5%, following low claim trends since the 2008 Mumbai attacks.<\/li>\n<li>Third-Party Motor Insurance : 15\u201320% hike in third-party motor premiums likely from April 1st, 2025, due to increasing claim costs.<\/li>\n<li>Employer&#8217;s Compensation Insurance : Reiterates the employer\u2019s legal liability for work-related injuries or death; excludes war, nuclear, and unauthorized incidents.<\/li>\n<li>Unlicensed Driver Liability : MP High Court rules car owners are liable, not insurers, if an unlicensed hired driver dies in an accident.<\/li>\n<li>Pre-Existing Health Conditions : IRDAI caps waiting period at 36 months, and after 5 years of continuous coverage, insurers cannot deny claims for unintentional non-disclosure.<\/li>\n<li>Car Insurance Add-Ons : Insurers are introducing add-ons and offering up to 80% discounts on base premiums while charging for extra features.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>INSURANCE POLICY &amp; REGULATORY UPDATES GST on Insurance Premiums : GST Council is considering reducing GST on health and life insurance premiums from 18% to 5% while retaining input tax credit \u2013 aiming to improve affordability. Disclosure of Existing Policies \u2013 SC Ruling : Supreme Court says non-disclosure of existing life insurance policies when buying &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[849,1],"tags":[243],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/8898"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=8898"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/8898\/revisions"}],"predecessor-version":[{"id":8900,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/8898\/revisions\/8900"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=8898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=8898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=8898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}