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How to Locate an Agent through IRDA Agent Locator

look up

How to Locate an Agent through IRDA Agent Locator

Are you looking to locate a registered insurance agent in India? Well, look no further, we will show you exactly how you can get a list of registered insurance agents near you through the IRDA agent locator portal, and you can locate your nearest registered insurance agent by pincode.

We will also give you a complete walk-through on how you can locate your nearest agent.

IRDA Agent Locator Portal
IRDA Agent Locator Portal

Steps to Locate an Agent through IRDA Agent Locator

Step 1.) Search for ‘IRDA agent locator’

Search for IRDA agent locator on your preferred search engine and navigate to the official IRDA agent locator page. You can also access the portal directly via – https://agencyportal.irdai.gov.in/PublicAccess/AgentLocator.aspx

Step 2.) Enter your Details

Now, you can either do a detailed agent locator search or you can do a broad agent locator search. Let us give you can example of both.

 

Detailed agent locator search:

  • Here, you will need to enter the name or license number (preferred) of the agent.
  • Once entered, click on ‘Locate’, you will now get all of the publicly available information about that particular agent.

Example of a detailed agent locator search

Broad agent locator search:

  • Enter the State, District, Insurance Type, and PIN code. Once entered, press ‘Locate’
  • You will now get a detailed list of all insurance agents in that particular pin code along with their license number, IRDA URN, Agent ID, Phone Number and Name.

Example of a broad agent locator search

Step 3.) Confirm Details

Now that you have the relevant agent details with you like the agent ID, license number, name of agent, mobile number, etc, you can now verify these details. If satisfied, you can reach out to the agent via their registered phone number that the IRDA agent locator tool provided you with.

Cross-verify with IRDA PAN Look up

You can also cross check the authenticity of your insurance agent by verifying their PAN details on the IRDA PAN Look up tool. Doing so will ensure that you know for a fact that your insurance agent is registered with IRDA of India, and is authorized to sell insurance in India.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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IRDA

IRDA Hall Ticket (Everything You Need to Know)

IRDA Exams

IRDA Hall Ticket (Everything You Need to Know)

The IRDA of India organises and holds a variety of exams every year. Students can opt for these exams, and if they pass, they will be eligible to work within the insurance industry of India as professionals. The IRDA of India holds a large number of exams each year.

Some of the notable exams held by the IRDA of India include the IC 38 Exam, the Insurance Surveyor Exam, the Insurance Broker Exam, the Corporate Agent Exam, the IRDAI Exam, and more.

Let us talk about how we can download the IRDA exam hall ticket below:

  • How to Download Your IRDA Hall Ticket
  • How to Download IRDA Hall Ticket Scorecard
  • Print your IRDA hall ticket

How to Download Your IRDA Hall Ticket

How to Download the IC 38 Exam Hall ticket

  • Visit the III Exams Portal: First, you will need to visit the III Exams portal managed by the Insurance Institute of India.
  • Pay Exam Fees: Now, you will need to pay exam fees. To pay exam fees, kindly navigate to the ‘Payment’ section and click on ‘Exam Fees.’ Next, you will have to enter your batch ID or URN and make payment. Once you have made the payment, book your seat. If you have already made a payment and booked your seat, you can now move forward with downloading your hall ticket.
  • Download Hall Ticket: Now, navigate to the ‘Download’ section on the top bar and click on ‘Hall Ticket.’ Now, enter your URN, date of birth, and exam date. Click on the ‘Download’ button, and your IC 38 exam hall ticket will be downloaded. Save your hall ticket for further reference. You will also need to take a printout of your hall ticket to show the examiner.
Download IRDA hall ticket
IRDAI download hall ticket page

Be sure to read the instructions for candidates on the bottom of the hall ticket carefully. The examiner has listed important instructions students need to adhere to while giving the exam.

How to Download Your IC 38 Exam Score Card

  • Visit the III Exams Portal: You will need to visit the III Exams portal managed by the Insurance Institute of India.
  • Scorecard section: Now, you will need to navigate to the ‘Downloads’ section and click on ‘Score Card.
  • Enter your details: Now that you are on the score card page, enter your URN, date of birth, and exam date. Once entered, click on ‘Download.’ Your score card will be downloaded.

How to Download the IRDA Assistant Manager Exam Hall Ticket

The IRDA of India has issued an assistant manager notification for 2023. Under this notification, the IRDA has requested applications from eligible candidates for the assistant manager post. A total of 45 vacancies for the assistant manager post have been opened by the IRDA in 2023. Important facts include:

  • Number of vacancies: 45
  • Post: Assistant manager
  • Application mode: online application
  • Application start date: April 11, 2023
  • Last date of application: May 10, 2023
  • Salary: ₹ 1,30,000

The eligibility criteria for this exam can be accessed here.

How to apply for the IRDA Assistant Manager Post

Mentioned within are the steps for you to apply for the post:

  • Step 1: Visit the official IRDA website www.irdai.gov.in
  • Step 2: Navigate to the ‘Careers’ section on the top right-hand side.
  • Step 3: Download the ‘ Notification for Assistant Manager Recruitment 2023’ PDF.
  • Step 4: Navigate to ‘point number 8’ and click on “Recruitment for the post of Assistant Manager (2023).” Alternatively, you can also access the link here.
  • Step 5: Fill out the application form and make the payment.
irdai assistant manager form
IRDAI assistant manager Application form

Print your IRDA Assistant Manager Exam Hall Ticket

The IRDAI has not yet announced the date of the exams. Once they announce the exam dates, they will furnish details on how to download the IRDA assistant manager exam hall ticket. Kindly keep an eye on any emails coming from the IRDA of India.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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Insurance

Banking vs Insurance: How do they differ in terms of purpose and scope?

Banking vs insurance

Banking vs Insurance: How do they differ in terms of purpose and scope?

A nation’s economy, well-being, stability, and success depend upon the important institutions of banking and insurance. Effective banking ensures that credit is passed on to business ventures that can effectively utilise this credit and create powerful growth engines that increase the prosperity of a nation.

Effective insurance ensures that the risk is born by the people and institutions that are capable of bearing these risks, ensuring stability in an economy, as the risk is transferred from people and individuals to institutions, it inherently increases the stability of a nation.

Let us now talk about some of the most important aspects of banking and insurance, including similarities and differences, among other topics.

  • Purpose and Scope of Banking and Insurance
  • Risk Management in Banking vs. Insurance
  • Types of Products Offered
  • Regulation of Banking vs. Insurance

Purpose and Scope of Banking and Insurance

Purpose and Scope of Banking

Let us talk about the most important purposes and scope of banking.

  • Effective lending: The fundamental purpose of a bank is to make money. How does it do this? It earns a profit if it lends effectively. The interest the bank earns through loan disbursements is their primary source of its income. Further, effective lending ensures that large and small businesses receive the credit that they require for business expansion as well as short-term credit requirements.
  • Mode of payment: Money, along with being a store of value, is also a mode of payment. Banks ensure the smooth facilitation of modes of payment through technologies like wire transfers, NEFT / RTGS, credit and debit cards, and more. This ensures that money is sent where it needs to be sent.
  • Managing inflation: Banks also have the role of controlling inflation in a country. This is, however, an indirect role, as the reserve bank of a nation decides on the rate of inflation and advises banks to adhere to certain terms and regulations that ensure that inflation in a nation is at a certain pre-determined rate.
  • Vehicle of saving and investment: Banks also act as vehicles of savings and investments, as customers can put their money in a variety of savings and investment vehicles to earn interest on their principal. Some instruments include savings accounts, term deposits, recurring deposits, and beyond.
  • Dispersion of money: The reserve bank of a nation creates the money, and the banks ensure that this money gets effectively dispersed within an economy.
  • Facilitates international trade: Banks facilitate international imports and exports in a variety of ways. Some of the ways include conversion of foreign exchange, issuing bankers checks, giving bank guarantees, and beyond. Businessmen use these avenues to further their trade endeavours.

Purpose and Scope of Insurance

Let us talk about the most important purposes and scope of insurance.

  • Effective risk bearing: Handling and managing risk is of fundamental importance to an insurance company. It exists for the purpose of transferring risk from individuals and entities to insurance companies. The risk gets transferred from weak hands to stronger hands that are capable of bearing such risks. Further, an insurance company even goes beyond and hands their risk over to reinsurance companies, thereby even reducing their own risk exposure. You can even learn about reinsurance and get an understanding of how it works.
  • Creates stability: Risk creates uncertainty and instability if it is born by a person or entity that can’t handle it. Insurance and reinsurance companies are specifically geared and primed to handle such risks, thereby creating an environment of stability in a country.
  • Business stability: Business, by its very nature, is risky. Some of the risks can, however, be mitigated by transferring them to an insurance company, thereby reducing the risk of a business and increasing its stability.
  • Instrument of investment: Modern insurance policies can even act as an instrument of investment along with coverage. These plans are called unit-linked insurance policies (ULIP).

Risk Management in Banking vs. Insurance

Risk Management in Banking

  • Credit risk: This is the fundamental risk of banking. A bank lends to an individual or a corporation with the goal of earning interest and receiving the principle amount back. There are, however, cases where the bank is unable to recover the interest and even has to forego the principle amount, thereby resulting in a non-performing asset (NPA). Banks have to ensure that their NPAs do not go above a certain threshold to ensure the bank’s stability and survival.
  • Liquidity Risk: Liquidity risk essentially means the inability of a bank to maintain its day-to-day operations due to a lack of money. Liquidity risk generally means poor management of funds.
  • Operational Risk: There are certain inherent operational risks, such as acts of fraud, acts of terror, natural disasters, and beyond. Banks need to be cognizant of them and ensure that appropriate measures are taken to mitigate them.
  • Market Risk: Market risks are risks that crop up due to changing market environments, such as changes in foreign exchange rates or fluctuations in interest rates.

Risk Management in Insurance

  • Underwriting Risk: This is the fundamental risk in insurance. If an insurance policy is not effectively underwritten, there is a risk to the stability of the insurance company. The underwriter of an insurance company needs to look at a variety of important aspects to ensure that effective insurance underwriting happens.
  • Catastrophic Risk: There are certain catastrophic risks, such as floods, earthquakes, tsunamis, forest fires, and beyond, that can lead to a massive inflow of claims in a very short time. This could lead to the insurance company going bankrupt. How can such a catastrophic risk be handled? The answer is reinsurance.

Types of Products Offered

These are some of the general products and services offered by banks and insurance companies.

Banking Products

Insurance Products

Savings Account

Life Insurance

Credit Account

Term Insurance

Over Draft Account

Health Insurance

Term Deposit

Motor Insurance

Recurring Deposit

Marine Insurance

Credit Cards

Cyber Insurance

Debit Cards

Aviation Insurance

Foreign Exchange

Reinsurance

Banker’s Cheque

Agri Insurance

Bank Guarantee

Accident Insurance

Pay Order / Demand Draft

Casualty Insurance

 

Property Insurance

 

Liability Insurance

Regulation of Banking vs. Insurance

It is critical that banks and insurance companies are subject to a certain amount of oversight and regulation, as they can have a massive impact on the economy and thereby the nation.

Regulation of Banking

Indian banks are regulated by the Reserve Bank of India. The RBI subjects Indian banks to a variety of checks and regulations with the aim of creating stability in the banking sector. These regulations include:

  • Setting of interest rates
  • Auditing banks
  • Setting the monetary policy
  • Foreign exchange stability
  • Developing the banking sector

The US banking sector is primarily regulated by the Federal Reserve, commonly referred to as the Fed.

Regulation of Insurance

The Indian insurance sector is regulated by the IRDA of India. The IRDA of India places a variety of regulations on insurance companies operating in India, such as:

  • Auditing of insurance companies
  • Regulation of premiums
  • Issuing insurance licences
  • Develop the Indian insurance sector.

We hope that through this article you have gotten a satisfactory understanding of banking and insurance and the purpose, scope, and differences between the two.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

Experience the power of Artificial Intelligence (A.I)

Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

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What makes Surfshark VPN a Perfect Choice

What makes Surfshark VPN a Perfect Choice

With over a 300% increase in cyberattacks in the nation, surfing the web is becoming riskier day by day. According to a report by Norton, over 60% of internet users in the nation have fallen victim to cybercrime. These stats are alarming, and every internet user should be cognizant of them. Now that we are aware of the threat we face, what can we do to mitigate this threat?

There are two measures that every internet user should take to ensure their online safety. They are using a high-quality antivirus, and the other is using a reliable VPN provider. Let us talk about the VPN aspect in this article and how Surfshark VPN can help you maintain anonymity and security online. Think of it like taking out an insurance policy for your digital self!

This article will talk about the following:

  • What is Surfshark VPN
  • Benefits of using Surfshark VPN
  • Why you need to take your cybersecurity seriously
  • Some Surfshark Customer Reviews

Editor's Choice VPN

Surfshark comes with a 30-day Money Back Guarantee

Take your online privacy, security, and data protection to the next level.

InsuranceLiya.com is Featured in leading news publications like:

The Week | Mid-Day | The Pioneer | APN News

What is Surfshark VPN?

SurfShark VPN is a cybersecurity firm offering a variety of cybersecurity products, but their flagship product is Surfshark VPN, a Virtual Private Network (VPN) that ensures anonymity, privacy, and security of its users.

Users can surf the web without the threat of leaking their IP address online and making their data available to nefarious agents on the web.

Users can access the web through thousands of Surfshark IP addresses covered across 3200+ servers worldwide, ensuring complete anonymity online. They do not need to show their own IP address to anyone.

Connect to 100s of unique IPs to maintain your privacy and safety online.

Benefits of using Surfshark

Let us talk about some of the most important benefits of using a VPN like Surfshark, and how you can leverage this technology to increase your digital safety.

  • Anonymously Surf the Web: Your IP address is the equivalent of your fingerprint. Using a reliable VPN provider like Surfshark will ensure that your online fingerprint is not accessed by anyone.
  • Protects your Data: Using a reliable VPN will ensure that you access the open web with strong encryption technologies (AES 256 GCM Encryption). This essentially means that nefarious agents do not get access to your private data like Email IDs, Passwords, Credit Card details, and more. Say goodbye to Phishing!
  • Blocks Malware: Surfshark’s adblocker blocks annoying pop-up ads that spoils user experience. Further, blocking pop-ups also leads to safer browsing as it minimizes malware risks.
  • Email Protection: If you bundle Surfshark VPN with Surfshark Alert, you can increase the security of your Email Accounts, and the data within it.
  • No Logs: Surfshark also maintains a No Logs policy like certain other VPN providers like VyprVPN.
  • Access Censored Information: Access censored as well as Geo-specific content and information easily by selecting that country’s IP address.
  • Safe and Secure IPTV Access: Accessing IPTV content with a reliable and fast VPN will lead to an anonymous, secure, and fast viewing experience. IPTV content includes live sports, television programs, news, and more.
Surfshark can be accessed through mobile.

It’s an Award Winning VPN Provider

Surfshark is an award winning VPN provider. Let us have a look at some of their awards and accreditation:

  • VPN Solution of the Year” – 6th annual CyberSecurity Breakthrough Awards
  • “Best Value VPN 2022” – CNET Editor’s Choice
  • Cybersecurity Excellence Award Gold 2021
  • Most popular VPN service 2022 – CanalTech
  • PCWorld Verified Product 2022

Why you need to take your cybersecurity seriously?

Let us now talk about why you need to take their cybersecurity very seriously. Mentioned within are some alarming stats that every internet user in the nation should take note of.

  • According to a Kaspersky Report, over 45% of internet users in the country were attacked in 2020 alone
  • There was a 300% increase in cybercrimes in the nation in 2020 (1,158,208 cyberattacks)
  • The nation is the second most vulnerable and targeted nation for Ransomware attacks in Asia-Pacific
  • Remote working has increased the risk of social engineering attacks, phishing, and pretexting

Using a VPN provider like Surfshark can mitigate or even eliminate most of these risks.

Additional Features of Surfshark

There are some additional features and benefits of Surfshark, they are:

  • Two-factor authentication to increase security
  • RAM only servers increase the speed of their VPN
  • Blazing fast and secure protocols (OpenVPN UDP / TCP, WireGuard, IKEv2/IPsec)
  • AES 256 GCM data encryption
  • IP Rotator and Bypasser for additional security
  • 24/7 customer support (including Live Chat)
  • Ability to connect multiple devices using a single VPN account
  • 30-day money-back guarantee

Some Notable Customer Reviews

Existing customers seem to be talking highly of SurfShark’s customer support. Let us have a look at some of their customer reviews.

Note: Reviews are taken from Trust Pilot.

Disclosure: InsuranceLiya.com may receive remuneration on certain products mentioned on this page.

Frequently Asked Questions

  • Does Surfshark offer a money back guarantee?

    Yes, Surfshark offers a 30 Day Money Back Guarantee.

  • Does Surfshark offer a free trial?

    Yes, the company offers a 7 day trial for Android, OS, and Mac users.

  • Can I avail a Surfshark subscription using UPI?

    Yes, Indian users can pay for their Surfshark subscription using UPI.

  • Editor's Choice VPN

    Surfshark comes with a 30-day Money Back Guarantee

    Take your online privacy, security, and data protection to the next level.

    Categories
    Insurance

    A Complete List of Every Reinsurance Company in India

    reinsurance companies in India

    A Complete List of every Reinsurance Company in India

    There was a time when India only had one functioning reinsurance company; it was the General Insurance Corporation (GIC) of India. Today, as of 2023, there are 11 major reinsurance companies operating out of India: one Indian company and the rest foreign reinsurance companies.

    Let us go through each of the eleven reinsurance companies in India briefly and understand their history, scope of operations, and beyond. You can also learn about the history of reinsurance in India to get a better idea about reinsurance in India.

    Mentioned below are all of the reinsurance companies in India (As of 2023)

    • General Insurance Corporation (GIC) of India
    • Lloyd’s India
    • Munich Re
    • AXA France Vie
    • Allianz Global
    • RGA Life Reinsurance Co of Canada
    • SCOR SE
    • XL Insurance Co SE
    • General Reinsurance AG
    • Swiss Reinsurance Company
    • Hannover Ruck SE

    General Insurance Corporation (GIC) of India

    GIC of India was the sole reinsurer in India up until 2015. All of this changed with the amendment of the Insurance Laws Act, 2015. This is where the Indian reinsurance industry was opened up to local as well as foreign players. The licensing and regulation part is to be handled by the IRDA of India. In 2016, IRDA issued the R1 preliminary licence to Indian firm ITI Reinsurance, thereby officially opening the Indian reinsurance industry to private Indian companies.

    Lloyd’s India

    Lloyd’s India is the Indian arm of British insurance company Lloyd’s of London. Lloyd’s India generates revenue through their reinsurance business, which operates in a variety of fields like Health, Cyber, Marine, General Liability, Nuclear, Art, Property, Terrorism, Aviation, Agriculture, Pecuniary, and beyond. You can view all of their activities through their Digital Brochure.

    Address

    Unit 1 and 1A, Level 6,

    4, North Avenue

    Maker Maxity

    Bandra Kurla Complex

    Bandra (East)

    Mumbai 400051

    Phone Number

    +91 022-6813-3699

    Email ID

    Shankar.Garigiparthy@lloyds.com

    Source: https://www.lloyds.com/en-in/lloyds-around-the-world/contact-us

    Munich Re

    Munich Re operates in India through its India branch. The company is one of the largest reinsurance companies in the world, with €67.1 Billion gross premiums written. The company also has over €200 Billion assets under management (AUM). 

    Address

    Unit 1501, B wing, The Capital, Plot No. C-70, G Block, Bandra Kurla Complex (BKC), 400051

    Phone Number

    +91 022-4032-4000

    Email ID

    N/A

    AXA France Vie

    AXA France Vie got its licence from the IRDA in 2017. They operate in India through their India branch, located in Delhi. Their India operations are headed by Mr. Ankur Nijhawan, who acts as CEO of India operations. AXA reported $17.3 billion worth of gross written premium (GWP) in 2020, making it one of the largest reinsurers in the world.

    Address

    5th Floor, Office Tower, Select City Walk, Plot No. A-3,

    District Centre, Saket, New Delhi

    110017

    Phone Number

    +91 11 6623 2500

    Email ID

    contact-us@axa.in

    Data taken from: https://indiareinsurance.axa.com/

    Allianz Global

    Allianz Global operates its India business primarily through its Mumbai office. With over €140.5 Billion of GWP in 2020, Allianz is an insurance and reinsurance behemoth. Allianz Reinsurance has various lines of business operating in health, aviation, life, property, casualty, accident, and beyond.

    Address

    Office No 66

    3-North Avenue

    Maker Maxity

    Bandra Kurla Complex

    Mumbai, Maharashtra 400051

    Phone Number

    91+ 020-6608-9990

    Email ID

    nelsa.dsouza@allianz.com

    Source: https://www.agcs.allianz.com/global-offices/india.html#aboutus

    RGA Life Reinsurance Co of Canada

    RGA Life Reinsurance Company of Canada operates in India through its India branch located in Mumbai. The Indian operations are headed by Jyoti Punja, who acts as the company’s India CEO. RGA specialises in life reinsurance, with over $13.3 billion GWP in 2020 alone.

    Address

    302, Akruti Centre Point

    MIDC Central Road

    Andheri (East)

    Mumbai 400 093

    Phone Number

    91+ 22-6709-2590

      

    Email ID

    https://www.rgare.com/global-directory/asia-pacific/india/contact-india

    Source: https://www.rgare.com/global-directory/asia-pacific/india

    SCOR SE

    SCOR SE initiated its India operations in 2016, primarily through its India branch located in Mumbai. SCOR is a global reinsurance giant operating in over 150 nations and having a GWP of €16.3 billion in 2020 alone.

    XL Insurance Co SE

    XL Insurance is a subsidiary of AXA XL, a specialty reinsurance venture of the massive AXA Group. XL Insurance Co SE started its India operations in 2017, primarily through its Mumbai office located in Bandra Kurla Complex (BKC). Company operations are headed by Joseph Augustine (CEO), Amit Agrawal (CFO), and Laxmeekant Walikar (Chief Underwriting Officer).

    Address

    11, A Wing, Level 5, The Capital, G Block, C 70,
    Bandra Kurla Complex, Mumbai – 400 051

    Phone Number

    +91 22-4945-8000

    Email ID

    https://axaxl.com/contact-us

    Source: https://axaxl.com/reinsurance/our-companies/xl-insurance-company-se

    General Reinsurance AG

    General Reinsurance AG is a part of Berkshire Hathaway, which is headed by the legendary Warren Buffet. 41% of its business comes from health and life, and the remaining 59% comes from the property and casualty industries.

    The company has written $11.5 billion in net premiums written (NPW) in 2021. General Reinsurance AG operates its India arm through its office in Mumbai.

    Address

    Units 107-109 Meadows

    Sahar Plaza Complex

    Mathuradas Vasanji Road

    J B Nagar, Andheri East

    Mumbai, Maharashtra – 400 059

    Phone Number

    +91 22-6134-4100

    Email ID

    https://axaxl.com/contact-us

    Source: https://www.genre.com/contactus/branch/asia/mumbai

    Swiss Reinsurance Company

    Swiss Re is one of the oldest reinsurance companies in the world, established in Zurich, Switzerland, in 1863. The company operates in the life, health, property, and casualty sectors and has gross premiums written (GWP) of $38.6 billion in 2020. Its India branch is located in BKC, Mumbai.

    Address

    A-701, 7th Floor “One BKC”, Plot No. C-66, Mumbai, Maharashtra 400051

    Phone Number

    +91 022-6661-2121

    Email ID

    Contact Page https://www.swissre.com/about-us/office-locations.html?expand=India-content#Asia-Pacific

    Source: https://www.swissre.com/about-us/office-locations.html?expand=India-content#Asia-Pacific

    Hannover Ruck SE

    With gross premiums written of €25.8 billion in 2020, Hannover Ruck is a major player in the global reinsurance market. The company majorly focusses on Property & Casualty end of things. The company operates its India business through its Mumbai office.

    Address

    Akal Society, J.B. Nagar, Tarun Bharat, Andheri East, Mumbai, Maharashtra 400099

    Phone Number

    +91 022-6138-0808

    Email ID

    HRind-personnel@hannover-re.com

    Source: https://www.hannover-re.com/119062/hannover-ruck-se-mumbai-branch

    As you can see, the reinsurance industry has considerably opened up post the 2015 insurance amendments to the Insurance Act. This has led to a variety of local players as well as global giants entering the Indian reinsurance space.

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Categories
    Cyber Insurance

    What makes Surfshark VPN a perfect choice

    What makes Surfshark VPN a Perfect Choice for Indians

    With over a 300% increase in cyberattacks in India, surfing the web is becoming riskier day by day. According to a report by Norton, over 60% of Indians have fallen victim to cybercrime. These stats are alarming, and every Indian internet user should be cognizant of them. Now that we are aware of the threat we face, what can we do to mitigate this threat?

    There are two measures that every internet user should take to ensure their online safety. They are using a high-quality antivirus, and the other is using a reliable VPN provider. Let us talk about the VPN aspect in this article and how Surfshark VPN can help you maintain anonymity and security online. Think of it like taking out an insurance policy for your digital self!

    This article will talk about the following:

    • What is Surfshark VPN
    • Benefits of using Surfshark VPN
    • Why Indians need to take their cybersecurity seriously
    • Some Surfshark Customer Reviews

    Editor's Choice VPN

    Surfshark comes with a 30-day Money Back Guarantee

    Take your online privacy, security, and data protection to the next level.

    InsuranceLiya.com is Featured in leading news publications like:

    The Week | Mid-Day | The Pioneer | APN News

    What is Surfshark VPN?

    SurfShark VPN is a cybersecurity firm offering a variety of cybersecurity products, but their flagship product is Surfshark VPN, a Virtual Private Network (VPN) that ensures anonymity, privacy, and security of its users.

    Users can surf the web without the threat of leaking their IP address online and making their data available to nefarious agents on the web.

    Users can access the web through thousands of Surfshark IP addresses covered across 3200+ servers worldwide, ensuring complete anonymity online. They do not need to show their own IP address to anyone.

    Connect to 100s of unique IPs to maintain your privacy and safety online.

    Benefits of using Surfshark

    Let us talk about some of the most important benefits of using a VPN like Surfshark, and how you can leverage this technology to increase your digital safety.

    • Anonymously Surf the Web: Your IP address is the equivalent of your fingerprint. Using a reliable VPN provider like Surfshark will ensure that your online fingerprint is not accessed by anyone.
    • Protects your Data: Using a reliable VPN will ensure that you access the open web with strong encryption technologies (AES 256 GCM Encryption). This essentially means that nefarious agents do not get access to your private data like Email IDs, Passwords, Credit Card details, and more. Say goodbye to Phishing!
    • Blocks Malware: Surfshark’s adblocker blocks annoying pop-up ads that spoils user experience. Further, blocking pop-ups also leads to safer browsing as it minimizes malware risks.
    • Email Protection: If you bundle Surfshark VPN with Surfshark Alert, you can increase the security of your Email Accounts, and the data within it.
    • No Logs: Surfshark also maintains a No Logs policy like certain other VPN providers like VyprVPN.
    • Access Censored Information: Access censored as well as Geo-specific content and information easily by selecting that country’s IP address.
    • Safe and Secure IPTV Access: Accessing IPTV content with a reliable and fast VPN will lead to an anonymous, secure, and fast viewing experience. IPTV content includes live sports, television programs, news, and more.
    Surfshark can be accessed through mobile.

    It’s an Award Winning VPN Provider

    Surfshark is an award winning VPN provider. Let us have a look at some of their awards and accreditation:

    • VPN Solution of the Year” – 6th annual CyberSecurity Breakthrough Awards
    • “Best Value VPN 2022” – CNET Editor’s Choice
    • Cybersecurity Excellence Award Gold 2021
    • Most popular VPN service 2022 – CanalTech
    • PCWorld Verified Product 2022

    Why Indian’s need to take their cybersecurity seriously?

    Let us now talk about why Indian internet users need to take their cybersecurity very seriously. Mentioned within are some alarming stats that every Indian internet user should take note of.

    • According to a Kaspersky Report, over 45% of Indian internet users were attacked in 2020 alone
    • There was a 300% increase in cybercrimes in India in 2020 (1,158,208 cyberattacks)
    • India is the second most vulnerable and targeted nation for Ransomware attacks in Asia-Pacific
    • Remote working has increased the risk of social engineering attacks, phishing, and pretexting

    Using a VPN provider like Surfshark can mitigate or even eliminate most of these risks.

    Additional Features of Surfshark

    There are some additional features and benefits of Surfshark, they are:

    • Two-factor authentication to increase security
    • RAM only servers increase the speed of their VPN
    • Blazing fast and secure protocols (OpenVPN UDP / TCP, WireGuard, IKEv2/IPsec)
    • AES 256 GCM data encryption
    • IP Rotator and Bypasser for additional security
    • 24/7 customer support (including Live Chat)
    • Ability to connect multiple devices using a single VPN account
    • 30-day money-back guarantee

    Some Notable Customer Reviews

    Existing customers seem to be talking highly of SurfShark’s customer support. Let us have a look at some of their customer reviews.

    Note: Reviews are taken from Trust Pilot.

    Sources:  

    • https://www.hindustantimes.com/india-news/almost-300-rise-in-cyber-attacks-in-india-in-2020-govt-tells-parliament-101616496416988.html
    • https://www.businesstoday.in/technology/story/india-second-most-targeted-country-by-ransomware-in-apac-and-japan-region-report-374338-2023-03-22
    • https://www.kaspersky.co.in/about/press-releases/2021_the-growing-cyber-threats-for-digital-india-kaspersky-report-reveals-that-35-of-indian-online-users-were-attacked-by-web-borne-threats-in-2020

    Disclosure: InsuranceLiya.com may receive remuneration on certain products mentioned on this page.

    Frequently Asked Questions

  • Does Surfshark offer a money back guarantee?

    Yes, Surfshark offers a 30 Day Money Back Guarantee.

  • Does Surfshark offer a free trial?

    Yes, the company offers a 7 day trial for Android, OS, and Mac users.

  • Can I avail a Surfshark subscription using UPI?

    Yes, Indian users can pay for their Surfshark subscription using UPI.

  • Editor's Choice VPN

    Surfshark comes with a 30-day Money Back Guarantee

    Take your online privacy, security, and data protection to the next level.

    Categories
    Insurance

    What is Quota Share Reinsurance? (Meaning and Definition)

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    What is Quota Share Reinsurance? (Meaning, Definition & Advantages)

    A quota share reinsurance treaty essentially means that a reinsurance company will only cover a certain quota of the assets of an insurance company. For instance, a reinsurance company will agree to cover only 25% of the health insurance policies of an insurance company (the ceding company). The remaining 75% of the asset is not covered by the reinsurance company.

    That being said, the other percentage of the asset can be covered by other reinsurers. For instance, one reinsurance company will cover 25% of the health insurance policies, and another reinsurance company may agree to cover the other 75% of policies, thereby covering all health insurance policies of an insurance company.

    A quota share reinsurance agreement is generally undertaken when the assets of the insurance company are large and cannot be covered by a single reinsurance company. An example of quota share reinsurance was when Warren Buffett’s Berkshire Hathaway entered into a 20% quota share reinsurance agreement with Australian insurance company IAG. To understand the concept of quota share reinsurance, you will first need to understand the concept of reinsurance.

    Let us now talk about the advantages and disadvantages of quota share in reinsurance.

    Advantages and Disadvantages of Quota Share in Reinsurance

    Advantages

    Disadvantages

    Transfer of risk: Through quota share reinsurance, the assets (insurance policies) of the ceding company gets covered by a reinsurance company, thereby resulting in a transfer of risk from the ceding company to the reinsurance company.

    Cumbersome: A quota share reinsurance policy is slightly more difficult to manage compared to a non-quota share reinsurance agreement, this is simply due to that fact that a ceding company will effectively need to manage multiple quota sharing agreements.

    Stability: Quota sharing reinsurance results in increasing the stability of the ceding company, as their assets are covered in the event of various types of default.

    Lesser profits: A ceding company will need to pay a premium to the reinsurer, this premium payment obligation of the ceding company will lead to lesser profits. This is however one of the most important and necessary expenses of an insurance company.

    Indemnification of ceding company: This the fundamental advantages of quota sharing as indemnification leads to security of the ceding company.

     

    Example of Quota Sharing agreement

    Mentioned within is an example of a quota sharing reinsurance agreement.

    A 100% quota sharing reinsurance agreement on the SEC website.

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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    What is a Reinsurance Agreement? (and its components)

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    What is a Reinsurance Agreement? (and its components)

    A reinsurance agreement is a legal contract between an insurance company and a reinsurance company that transfers the risk from the insurance company to the reinsurance company, either partly or fully. This transfer of risk takes place through a reinsurance agreement.

    A reinsurance agreement can be between two parties or multiple parties. Generally, an insurance company will transfer its risk to multiple reinsurance companies, thereby participating in multiple reinsurance contracts. This, however, is subjective and depends on how large the insurance company is, and the magnitude of its assets.

    It is also important to know that a reinsurance agreement is governed by the agreements and contract acts of each country. For instance, if there is a reinsurance agreement between an Indian insurance company and a reinsurance company, the reinsurance agreement will come under the Indian Contract Act, 1872.

    Parties to a contract need to study the contents of this act and accordingly enter into a reinsurance agreement. Further, the agreement may also come under other acts of law apart from the Contract Act, and legal counsel should be sought before entering into an agreement.

    Let us now discuss some of the most important components of a reinsurance agreement.

    What is in a reinsurance agreement?

    The most important components of a reinsurance agreement include the following:

    • Scope of coverage: The scope and extent of coverage is mentioned here. A reinsurance company will categorically highlight the exact assets that they are willing to cover. For instance, a reinsurance company may only cover the health insurance assets of an insurance company in a particular geographical area.
    • Details of assets covered: Asset details are mentioned in detail to avoid any ambiguity. Details mentioned include the type of asset, location of the asset, income earned via the asset, and beyond.
    • Payment terms: Here, the premium payment terms are mentioned. The reinsurance company may ask for a monthly, quarterly, half-yearly, or yearly premium from the insurance company. These terms are flexible and depend on the understanding between both parties.
    • Type of reinsurance: The kind of reinsurance coverage extended is mentioned here. Reinsurance can be treaty reinsurance or facultative reinsurance.
    • Terms of dispute handling: It is possible that a dispute may crop up in the future between parties. Here, the arbitration terms and dispute resolution terms are mentioned in the event of a disagreement.
    • Reporting terms: A reinsurance company may ask for timely reports from the insurance company. Further, they may also ask for authorization for on-site visits and other types of auditing measures. These details are mentioned in the reporting terms component of the reinsurance agreement.
    • Principles of insurance: All reinsurance components are governed by the principles of insurance. Both parties need to adhere to the principles of insurance.

    There may be a variety of other components to a reinsurance agreement, and it completely depends on the parties to the agreement, but the above components are some of the common aspects of a reinsurance agreement.

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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    Top 7 Hidden Facts about Term Insurance

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    Top 7 Hidden Facts about Term Insurance

    Taking out a term insurance policy could be one of the most important financial decisions a person can make. An adequately covered term insurance policy can protect a family in unfortunate times. A potential policyholder has a laundry list of questions ready to ask his or her insurance agent, but sometimes miss out on asking the lesser known questions. This article will attempt to demystify some of the hidden facts about term insurance. Let’s begin

    Hidden Facts about Term Insurance

    Well, ‘hidden’ would probably not be the right word, but ‘lesser known’ would be. So, here is a list of 7 lesser-known facts about term insurance.

     

    1. Coverage is based on income
    2. Increasing sum assured
    3. Term insurance is cheaper than life insurance
    4. Some term policies do not need a medical check-up
    5. You can un-select pre-selected riders
    6. Return of premium rider
    7. Grace period

    1.) Coverage is based on income

    Did you know that you are only eligible for term coverage of 15–20 times your annual income? Yes, that’s correct. If you’re planning to get very large term insurance coverage, this is something that you should keep in mind.

    For instance, if you have an annual income of ₹10 lakhs, you may only be eligible to receive term insurance coverage of around 1.5–2 crore. This is, of course, subjective to the insurance company as well.

    2.) Increasing sum assured

    Another lesser-known term insurance fact is that you can actually increase the sum assured of your term insurance policy as the years go by. These are known as increasing term insurance plans. An increasing term insurance plan, as the name suggests, will increase the coverage amount as time goes by. This is an ideal way to combat rampant medical and general inflation.

    An increasing term insurance plan will increase the coverage either yearly or systematically based on certain pre-defined criteria. For instance, an increasing term insurance plan may increase the term insurance coverage by 20% when a policyholder reaches 60 years of age. This same term insurance policy will also increase the term insurance coverage by another 10% when the policyholder reaches the age of 65.

    This is generally how an increasing sum assured term insurance policy works. Be sure to inquire about such plans with your insurance agent next time you go shopping for a term plan.

    3.) Term insurance is cheaper than life insurance

    Yes, a term insurance plan is generally cheaper than a life insurance plan. This is because a term insurance policy will provide insurance coverage up to a specified period only, whereas a life insurance policy will provide coverage for the entire life of the policyholder.

    Term insurance plans will generally provide coverage up to the age of 75–85; that being said, there are certain term insurance policies that offer coverage up to the ripe old age of 99 years.

    4.) Some term policies do not need a medical check-up

    Extending term insurance coverage to a person comes with certain risks to the insurance company, which is why they insist on potential policyholders getting a medical check-up before issuing a term plan.

    There are, however, quite a few term insurance companies that extend coverage to policyholders without insisting on a medical check-up.

    5.) You can un-select pre-selected riders

    A term plan may come with a suite of pre-selected insurance riders, increasing the cost of the term plan. Although some of these rides may be valuable, it is also possible that some of the insurance riders may not be relevant to the policyholder.

    You should ask your agent if there are any pre-selected riders in your term plan. Removing them may decrease the premium on your term policy.

    6.) Return of premium rider

    While we are on the topic of insurance riders, let us also talk about the return of premium riders. A return of premium is an additional rider that can be bought with a term plan. This rider ensures that all premiums paid are returned to the policyholder if he outlives the policy’s maturity. This effectively means that all insurance policy premiums paid will be returned to him at maturity.

    There are different variations of a return of premium rider; you should inquire about the same with your insurance agent or insurance company. It can be a valuable add-on to your term plan.

    7.) Grace period

    What happens if you miss a premium payment? It is not ideal to miss a premium payment, but if you have missed a term insurance premium payment, you can make a payment within 30 days of the due date to keep your policy active.

    This period is called a grace period. However, it is always recommended to pay your insurance premiums on or before the due date to avoid any unnecessary complications. We hope you learned a thing or two about the lesser-known facts of term insurance. Stay safe and stay insured. You can also check out a list of frequently asked questions about term and life insurance here.

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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    What is a Material Fact in Insurance? (With Example)

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    What is a Material Fact in Insurance? (With Example)

    The concept of material fact is interlinked with the principles of insurance. But, what is a material fact in insurance? This article will help you understand the concept of a material fact in insurance and its importance. We will also wrap up the article by providing an example of a material fact and some relevant court judgements on suppression of material facts.

    • What is a Material Fact in Insurance?
    • Importance of Material Facts in Insurance?
    • Example of a Material Fact in Insurance
    • Suppression of Material Facts (Court Judgements)

    What is a Material Fact in Insurance?

    A material fact refers to an important or relevant fact that forms the basis of decision-making. In simple words, a material fact is a piece of information that can influence a decision. In the context of insurance, a material fact is any information that can influence the decision of an insurance company to issue an insurance policy.

    It also works the other way around; a piece of information given by an insurance company can also be considered a material fact if it influences the purchase decision of a policyholder.

    Importance of Material Facts in Insurance?

    It is imperative that both parties to an insurance contract openly display material facts to each other. Doing so will improve the quality of decision making. Further, if important material facts are withheld by a party, the insurance contract can be terminated due to non-adherence to the principles of insurance.

    There should be no falsification, truncation, or misrepresentation of any valuable information considered a material fact. Let us cement our understanding of the meaning and concept of a material fact with a simple and easy-to-understand example.

    Example of a Material Fact in Insurance

    Mr. Jatin bought a health insurance policy, but he did not disclose to the health insurance company that he suffers from a pre-existing condition. This accounts for willfully withholding material facts from an insurance company. The above is an example of the suppression of material facts by an insurance company.

    Suppression of Material Facts (with Court Judgements)

    There have also been certain court judgements when it comes to the suppression of material facts. Some of the high profile ones include:

    Author Bio

    This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

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