CURRENT AFFAIRS

Detailed explanation-1: -ICICI Lombard General Insurance has introduced an industry-first feature for health insurance policyholders called ‘Anywhere Cashless, ‘ which allows them to receive cashless facilities at any hospital, regardless of whether or not it is currently part of ICICI Lombard’s hospital network.

Detailed explanation-2: -Cashless mediclaim insurance enables insured patients to avail hospitalization at select hospitals and get treated without settling the hospital bill. The expenses incurred during hospitalization are directly paid by the health insurance company to the hospital.

Detailed explanation-3: -Established in 2001, ICICI Lombard General Insurance Company is a joint venture between ICICI Bank-India’s second largest bank and Fairfax Financial Holdings Limited-a financial services company based in Toronto. ICICI Bank had 64% stake in the venture while Fairfax had 36% in the joint venture.

Detailed explanation-4: -ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India with a Gross Written Premium (GWP) of ₹185.62 billion for the year ended March 31, 2022.