General Insurance Council Newsletter

Chairman's message Editor's connect Insurance in news Insurance Laws & policy Consumer Awareness Global Highlights Contact Us

Chairman's Message

Mr Tapan Singhel

A very Happy New Year 2026 to everyone! Welcome to the latest edition of the GI Council Newsletter! In this issue, we explore how India’s insurance industry in 2025 focused on consolidation, customer needs, and sustainable growth. Articles highlight the art of corporate storytelling, the importance of Physical AI, and early health insurance purchase. Globally, we look at how social insurance for gig workers in China is going to be expanded, and how Indonesian regulators are set on making travel insurance mandatory for foreign tourists

Hope you enjoy reading the newsletter!

Dr. Tapan Singhel MD & CEO
Bajaj General Insurance Ltd.
Chairman, GI Council

Editor's Connect Madhulika Bhaskar

"Welcome to the February, 2026 issue of GI Council newsletter .In this issue, there are case laws in which the Valsad District Consumer Commission has decided that Squint eye surgery is a vision correction treatment, not a cosmetic one & in another case, Claim rejection on ‘experimental’ grounds was reversed as the insurer was unable to prove that treatment was experimental or unproven.

Festive greetings for the upcoming festivals of Holi, Gudi Padwa, Ramzan Id & Ram Navami “

Madhulika Bhaskar
Acting Secretary General
General Insurance Council

Editorial Team

Ms. Vasudha Rao
Mr. Sashi Nair
Mr. Sharad V Taware

Insurance in news

India’s Insurance Industry in 2025: A Year of Consolidation, Customer Focus and Sustainable Growth

The Indian insurance industry has traversed a period of significant transformation — shaped by bold policymaking, strategic reshuffles among major players, and evolving customer needs. Two historic developments in 2025 stood out as potential inflection points for the sector.First, the government’s decision to make Health, Personal Accident and Travel insurance fully exempt from Goods and Services Tax (GST) acknowledged insurance as an essential financial service

The Power of Storytelling in Insurance Through the Corporate Communications Desk

Insurance is not something people think about daily, yet it quietly supports many of life’s important moments. At its core, insurance is a story of preparedness, resilience, and reassurance. Every policy exists because life is unpredictable, and every communication we create is an opportunity to explain how that unpredictability can be addressed in real terms

For the Bride Who Dreamed Every Moment — And Secured Her Dream Day

A modern Indian bride is more than just the heart of her celebration — she’s its visionary. From curating colour palettes that mirror her personality to choosing destinations that feel like a dream, today’s bride orchestrates every detail with intention. Her wedding is not just an event; it’s a beautifully crafted narrative of who she is.

Insurance Laws & policies

Claim rejection on ‘experimental’ grounds reversed A woman who paid her medical insurance premiums for 23 years without making a claim was aghast to find that her first claim, for osteoarthritis treatment, was rejected by the insurance company. The insurer said the treatment she got was experimental. The consumer redressal forum of Rajkot district, however, ordered the insurance company to pay the claim.

Squint eye surgery a vision correction treatment, not cosmetic The Valsad Consumer Disputes Redressal Commission (CDRC) has ruled that squint eye correction surgery is a vision correction procedure, not a cosmetic treatment, and directed The New India Assurance Company to pay Rs 4.12 lakh in compensation to a resident of Billimora town in Navsari district

Consumer Awareness

Physical AI: From Thinking to ActingAI has been thinking for years. But thinking never stopped a flood. Thinking never prevented a fire. Thinking never saved a life.The moment intelligence begins to ACT, everything changes. That moment is called Physical AI. Until now, most of what we called AI lived on screens. It analysed data, generated text, made predictions and sounded impressive in demos. But the real world doesn’t operate on prompts and dashboards.

The Best Time to Buy Health Insurance is Before You Need ItFor many young adults, health insurance is often seen as something to be considered later in life - after marriage, children, or the onset of health issues. However, buying health insurance at an early age is one of the smartest financial and health decisions an individual can make. Early coverage not only ensures protection during unforeseen medical events but also delivers long-term financial and lifestyle benefits

Global Highlights

China: Social insurance for gig workers to be expandedChina will initiate more reforms to protect the rights of flexible workers and those involved in new forms of employment to promote high-quality and fuller employment and maintain social stability. The Chinese State Council, the country's Cabinet, has submitted a new proposal for review to the current session of Standing Committee of the National People's Congress, which is China's national legislature. The new proposal includes speeding up the release and implementation of regulations to protect the rights of gig workers including food delivery workers and ride hailing drivers.

Indonesia: Regulator supports making travel insurance mandatory for foreign touristsThe Indonesian insurance regulator, the Financial Service Authority (OJK), has expressed its support for making travel insurance mandatory for foreign visitors coming to Indonesia. The proposal, if implemented, would not only add to the country’s insurance market but also provide greater protection against health and allied risks to the foreigners visiting Indonesia. In a written statement issued in December 2025.

General Insurance Council, Ground Floor, National Insurance Building, 12, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra, India, sg@gicouncil.in
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Disclaimer : Our newsletter endeavors to compile insurance information from various sources in the public domain. In respect of 3rd party articles/news items etc. reproduced, the GI Council accepts no responsibility for the accuracy/authenticity and completeness nor can be seen as endorsing the views/opinions expressed therein.