Latest Insurance News

1. Issuing cheque with no money in account is fraud
Issuing a cheque with the knowledge that there are insufficient funds in the account comes within the ambit of fraud for which an insurance company is bound to pay claim to a policy holder, the Delhi Consumer Commission has held.


2. New insurance scheme with Rs.1.25 monthly premium on cards
The government will soon launch a new rural postal life insurance scheme at a monthly premium of Rs.1.25 for the rural people, Minister of State for Communications and IT Jyotiraditya Scindia said.


3. Insurance Hall of Shame 2008

The Coalition Against Insurance Fraud's Hall of Shame of Washington, USA reveals the previous year's largest, most-brazen or dumbest insurance schemes. Insurance fraud is an $80-billion crime annually, and has grown more violent and invasive in recent years. The No-Class of 2008 reflects that trend.

4. Reinsurers to increase prices by double digit

Reinsurance companies such as global leader Munich Re have been predicting that the damage to insurers' investment income and capital base from the financial crisis means they have to pay more for cover as reported by Insurance Journal


5. Cars injure 841,000 people a year - without crashing

As published on the consumer insurance information blog of Renaissance Alliance, USA, new Not-in-Traffic Surveillance study sheds light on the numbers and types of injuries that occur as a result of non-crash related accidents, statistics that hadn't previously been tracked. Annually, auto-related non-traffic accidents are estimated to cause 1,747 deaths and and 841,000 injuries, according to the National Highway Traffic Safety Administration, which conducted the study.

Here are some of the study findings, as reported by the Consumer Reports Car Blog:

· More than half of the non-crash fatalities in the study occurred when a vehicle fell on a person who was under it or from unintentional carbon monoxide poisoning
· About 20 percent of the non-crash injuries involved slamming fingers or other extremities in a car door or trunk, or resulted from overexertion when loading or unloading a vehicle or pushing a disabled vehicle
· Across all types of tragedies, about one-third of those injured and about half of those killed were not inside the vehicle at the time
· Other common hazards included vehicle fires, anti-freeze and battery-acid burns, and falling from a vehicle
· A significant 221 deaths, and 14,000 injuries resulted from pedestrians being backed over by a vehicle

National Knowledge Commission Launches Online Contest

NKC's recommendations have been crafted to achieve the objective of tapping into India's enormous reservoir of knowledge, mobilising national talent and creating an empowered generation with access to tremendous possibilities for the 550 million youth.

To accelerate the process of reform and to create a groundswell of public opinion, NKC invites everyone to Online Contests.

Contest Period: 1 February – 1 March 2009
Categories: Film, Debate and Essay

Film Topic: Make a short film (not exceeding 6 mins)
1) How can I make a difference in transforming India

Debate Topics: Give your opinions in video format (not exceeding 4 mins each)
1) India will realise its demographic dividend in the next 15 years
2) Vocational education and training courses should be introduced in all schools

Essay Topics: Write your views (not exceeding 2000 words each)
1) How can India unleash its innovation and entrepreneurship potential?
2) Expansion, excellence and inclusion – the three challenges of the Indian education system

Important Dates
Contest Begins: Feb 1, 2009
Contest Closes: March 1, 2009
Results Declaration: March 10, 2009

Prizes
Winners get to meet Mr. Sam Pitroda
Cash Prizes of more than INR 1.5 lakhs
Certificates to first 500 entries

Log on to http://knowledgepor tal.in/contests to participate