Fwd: Today's Exclusives - IRDA asks insurers not to reject health insurance on a mechanical or routine basis, but don't pin much hope on this directive

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From: Moneylife <noreply@moneylife.in>
Date: Wed, Oct 5, 2011 at 5:33 PM
Subject: Today's Exclusives - IRDA asks insurers not to reject health insurance on a mechanical or routine basis, but don't pin much hope on this directive
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5 October 2011   Moneylife Exclusive IRDA asks insurers not to reject health insurance on a mechanical or routine basis, but don't pin much hope on this directive Raj Pradhan IRDA has issued a circular, asking insurance firms to pay claims, even if they are submitted late due to genuine reasons. The intention is noble, but don't lose sight of the ground realities of claims rejection, and the absence of penalty for insurers. Read the fine print of your mediclaim contract before signing on the dotted line...     Exclusive Column     Doing business in China: The pros and cons William Gamble The regulatory framework in emerging markets is either bad or nonexistent. In the World Bank's annual report on the ease of doing business the highest BRIC is China which barely makes it into the top half of countries. Brazil is the only BRIC that makes it into the top half of Transparency International's corruption index...       Other ML Exclusives   Can you ask for other students' answer-sheets? No, that's misuse of RTI The Film & Television Institute of India recently received an RTI application demanding answer-sheets of other students, by a prospective student who failed to get admission to an Animation & Computer Graphics course in 2010. The appeal was eventually rejected as being ultra vires of the RTI Act... ............................................................................................................................................. Daily Market Report: Share prices on a slow-motion decline If today's low holds, we may see a short-term bounce till 4,820, but the trend is down... .............................................................................................................................................. Apple mania gets a reality check—iPhone 4S fails to excite the street The stock has taken a beating and die-hard Apple fans are not very enthused by the latest offering. It might be time for Apple to go back to the drawing board... .............................................................................................................................................. Indian IT services sector earnings preview: Lacklustre quarterly performance expected The depreciating rupee, weak macroeconomic global environment, squeeze on margins and wage-hike related costs may cause strong headwinds... .............................................................................................................................................. Save on your Car Insurance The insurance channel from where you buy, your vehicle, and your personal profile can reduce your car premium rates. An exhaustive analysis of car insurance... .............................................................................................................................................. Speak Asia advisor finally confesses the company was running a Ponzi scheme Speak Asia's financial advisor and the man behind the money transfer from India has confessed that the company's 'business plan' was nothing but a Ponzi scheme, which works with continuous enrolling of investors and replaces them as they suffer losses and quit the scheme... .............................................................................................................................................. Motilal Oswal Mutual to launch Motilal Oswal MOSt Benchmark Government Bond Fund, an open-ended gilt scheme. Should you invest? Invest in the scheme if you know that interest rates are headed down. A number of similar schemes have been launched in the past by various fund houses—but returns have been disappointing... .............................................................................................................................................. An auto-rickshaw driver who embodies the very spirit of Mumbai Meet a David who faces many invisible Goliaths—but he continues his journey undeterred, putting up a brave face in this unforgiving metropolis—and has a value system that our 'leaders' would do well to follow... .............................................................................................................................................. The new Maruti Swift: More of the same The interiors have been altered, but its the headlights and tubeless tyres need some modification... .............................................................................................................................................. 'There is more awareness of life insurance than medical insurance, thanks to LIC' The chief executive officer of Max Bupa Health Insurance, Dr Damien Marmion, spoke on developments in the industry... .............................................................................................................................................. Personal finance today - Reliance MF pips HDFC MF on profits; slips on assets - Star Union Dai-ichi launches Suraksha Kavach - Reliance MF launches 150 days Fixed Horizon Fund - Auto, taxi drivers to get health cover under RSBY   ON STANDS NOW At a Glance   - Moody's reaffirms rating of ICICI Bank - RIL to suspend gas supply to 4 fertiliser plants from tomorrow - Indian M&A deals down by 56% to $5.91 billion in Q3 - Services PMI contracts to 49.8 in September - Illegal mining may lead to closure of legal mines: Goa PAC report - Govt asks SBI to submit report on Moody's downgrade   Corporate Wrap-up   - Godrej Properties signs agreement with Godrej & Boyce - Pharmexcil felicitates Venus Remedies with patent award in Gold category - NMDC may complete 3 overseas acquisition deals this fiscal   Moneylife Columns     Development and free markets—does it mean MNCs will sell us back our water? Veeresh Malik Healthy low-cost food and natural water to consume are important for all of us. Is there a conspiracy to force us Indians, in the name of "development" and "growth", to consume more and more unhealthy food and beverages?     Regulation: People's wrath Sucheta Dalal The public is disgusted and angry over rampant corruption. Will politicians listen?       Face 2 Face   Future Generali India Life Insurance: "ULIP charges are squeezed; wonder if any insurer charges less than the maximum allowed" Future Generali believes that the life insurance market is big enough for all the players to compete in newer areas and segments. Deepak Sood, MD & CEO, Future Generali India Life Insurance, says that good claims settlement ratio and quick claims turnaround time are the main drivers of customer satisfaction and retention. Excerpts:..     Editor's Pick   The Oracle of Omaha speaks Warren Buffett is no pessimist, as this interview indicates. ...................................................................................................................................................... The Cameron Grand UK recovery recipe Pay off all your credit card debts to get the economy back on track, the PM tells Britons. ...................................................................................................................................................... Expect more European downgrades: Moody's "All but the strongest euro-area sovereigns are likely to face sustained negative pressure on their ratings," the ratings agency has said in a statement. ...................................................................................................................................................... New Apple iPhone 4S: All work and no play This smart-phone is not going to get any rave reviews. Could Steve have done a better job? ...................................................................................................................................................... Is the bear hammering reaching an end? That's what these analysts believe. ...................................................................................................................................................... Cartoon of the week Is this a sign of times to come?     Book Review   Taming the beast: Investing concepts explained Debashis Basu A survey of various investing approaches, concepts and leading personalities...   FROM the ARCHIVES   Mediclaim portability kicked off on 1st October, but will you land up in no-man's land if you switch insurers? The IRDA portability circular says that the prospective insurance company will lose the right to reject a proposal if there is a delay of more than 15 days in receiving all relevant information from the existing insurer. How can the insurance watchdog implement this circular?... ...................................................................................................................................................... 'Occupy Wall Street': Peoples' movement in the US brings thousands on to the streets Public anger is showing its might in Spain, Egypt, India and now the US. Since the past fortnight, thousands of protestors have occupied a private park in New York to fight a corrupt political, banking and corporate system. Around 700 protestors were arrested by the New York Police last Saturday...     To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

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