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 Diwali to everyone! Welcome to the latest edition of the GI Council Newsletter!In this issue, we spotlight the dynamic evolution of India’s insurance landscape, where innovation, inclusivity, and consumer empowerment continue to take center stage. Articles spotlight the transformative potential of Bima Sugam, touted as the next big leap after UPI, and the rising trend of event insurance adoption ahead of India’s festive season. On the global front, we have explored how Vietnam is promoting student health coverage, while Taiwan expands subsidies for cardiovascular drugs.

Hope you enjoy reading the newsletter!

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

Editor's Connect Mr. Inderjeet Singh

"Festive Greetings for Deepavali as you explore the October 2025 issue of the GI Council newsletter. In this issue, there are articles regarding health insurance of women for women , a court decision directing an insurer to fulfil its obligations and more.

Hoping that the readers find the issue informative.!

Inderjeet Singh
Secretary General
General Insurance Council

Editorial Team

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

Insurance in news

Bima Sugam: The Next Big Leap After UPI

Every few decades, India pulls off a digital transformation that the world takes note of—be it Aadhaar, UPI, or FASTag. Insurance is now queuing up for its own breakout moment, and Bima Sugam is the platform that could make it happen. The industry has built trust, reached crores of customers, and handled everything from pandemics to natural disasters. Now it’s ready for its digital inflection point.

More organisers opt for event insurance before major festive season

Event insurance, particularly for major religious festivities such as Dahi Handi, Ganesh Chaturthi, and Durga Puja, is witnessing increased uptake ahead of the festive season, as organisers become more conscious of risks and proactively seek coverage to safeguard their events. This year, nearly 160,000 Govindas participating in Dahi Handi have been insured. Industry estimates suggest each Govinda is covered for Rs 10 lakh at a premium of Rs 75. With festivals now receiving government support, organisers are encouraged to opt for comprehensive insurance packages to cover participants and assets, industry experts said

Insurance Laws & policies

Aquaculture insurance scheme - India Education Diary The Department of Fisheries, Ministry of Fisheries Animal Husbandry and Dairying is implementing a new Central Sector Sub-scheme namely the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) under the ongoing Pradhan Mantri Matsya Sampada Yojana (PMMSY) for a period of four years from FY 2023-24 to FY 2026-27 at an estimated outlay of ₹6000 crore.

Bombay high court flays insurance company for trying to ‘wriggle out of obligation’, orders payment of Rs 27 lakh to widow TheThe Bombay high court has directed Tata AIG General Insurance to pay Rs 27 lakh with interest as awarded by the insurance ombudsman to a widow within four weeks. The insurance had come with a housing loan taken by the woman's husband. "The very objective of availing the insurance policy was to secure repayment of loan in the event of death or incapacitation of the borrower. However, this noble objective is completely frustrated on account of the actions of the petitioner-insurance company. It has attempted to wriggle out of the obligation to disburse the claim amount '' said Justice Sandeep Marne on Sept 3 while dismissing Tata AIG's appeal. In June 2017, India Infoline Housing Finance Ltd (IIFL) sanctioned Rs 27 lakh with a compulsory condition to avail insurance policy.

Consumer Awareness

Why women pay more for health insuranceHealth insurance is meant to offer protection, but for many women in India, it often comes with a hidden penalty. From maternity loading and higher premiums to tighter claim scrutiny around reproductive and hormonal conditions, women frequently end up paying more while receiving less coverage. As the market evolves, insurers, regulators, and consumers all have a role to play in rewriting the rules to make health cover genuinely inclusive.

Rethinking Travel Protection in India’s Bleisure BoomIndians are travelling more than ever, and their international footprint is rapidly increasing. In the first half of 2024, 15 million Indians travelled abroad, marking a 14% year-on-year rise and a 12% growth compared to 2019. Not just that, more than 1.33 million Indian students were pursuing higher education abroad as of January 2024. As a result, more family members visit their wards settled abroad, often for prolonged stays. Additionally, people are sometimes forced to go overseas to seek medical treatment, particularly for advanced oncology, organ transplants, and robotic surgeries

Global Highlights

Vietnam: Promoting health insurance policies among studentsThe Decree No. 188/2025/ND-CP detailing and guiding the implementation of a number of articles of the law on health insurance issued by the Government of Vietnam in July this year has received wide-spread support from the majority of people, especially from parents and students. One of the major tasks of the new decree on social insurance sector is about disseminating information about country’s health insurance policies to the general public and students in particular. In the new academic year for schools (2025-2026), the Can Tho City social insurance sector will coordinate with local authorities and functional agencies, especially schools in the area to promote propaganda work, striving to complete the target of 100% of students participating in health insurance by 30 September 2025.

Taiwan: Insurance subsidies for cardiovascular drugs to expandBeginning in September this year, Taiwan will expand its health insurance subsidies for the costly cholesterol treatment, thus helping about 5,000 cardiovascular disease patients to receive a cut on their medical bills.

General Insurance Council, Ground Floor, National Insurance Building, 12, Jamshedji Tata Road, Churchgate, Mumbai-400020, Maharashtra, India, sg@gicouncil.in
https://www.gicouncil.in/
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.