| IRDA mulls allowing life insurers to invest in derivatives | 18-NOV-09 |
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| The Insurance Regulatory and Development Authority (IRDA) is considering allowing life insurers to invest part of policy holders' money in equity derivatives, a move that would allow these firms to hedge the risks emanating from cash markets. |
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| Insurers seek changes in disclosure norms | 17-NOV-09 |
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| Insurance companies have sought changes in the draft exposure guidelines and have asked the regulator to defer their implementation by three months. In addition, the set of public disclosures for the insurance companies going public and those not approaching the market to raise capital are likely to be different. |
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| Life insurers reduce losses in first half | 05-NOV-09 |
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| Life insurance companies have managed to pare their losses during the first half of the current financial year, partly due to a decline in the sale of new policies. |
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| Insurers to take Rs 140-cr hit for IOC fire | 01-NOV-09 |
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| Insurers are likely to take a hit of up to Rs 140 crore from the recent fire accident at the IOC marketing plant near Jaipur. The plant was insured for Rs 238 crore by ICICI Lombard as the lead insurer, while Oriental Insurance had the second-largest share, followed by Iffco Tokio and National Insurance with 10-15 per cent stake each. |
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| Regulator unveils disclosure norms for insurers going public | 09-OCT-09 |
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| As insurance companies get closer to entering the capital market, the Insurance Regulatory and Development Authority (Irda) has come out with public disclosures guidelines, making it mandatory for these companies to provide data for a minimum four to five years. |
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| M J Antony: The cause and effect trail | 07-OCT-09 |
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| One of the tricky issues on which insurance lawyers argue incessantly is the ‘proximity’ of a happening to the insured event. The statutes do not define it and there is very little case law in India which deals with it. The recent Supreme Court judgment in New India Assurance Co vs Zuari Industries Ltd was thus one of the significant signposts in this field. |
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| Life insurers seek changes in tax code | 06-OCT-09 |
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| Anticipating an adverse impact of the new Direct Tax Code, life insurance companies have demand amendments in the proposed code. The draft code had recommended a maturity tax on all life insurance products, if the term was less than 20 years and the premium exceeded 5 per cent of the sum assured. |
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| Insurers against new tax regime for policies sold before April 2011 | 01-OCT-09 |
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| The draft code, circulated for public comments, had suggested that life insurance policies should be taxed at the time of maturity. So, the contribution and accumulation would be exempt from tax payments, but the government would levy tax on the withdrawal amount. |
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| Tremors fail to cheer up home insurers | 24-SEP-09 |
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| Despite six moderate to high intensity tremors jolting parts of North-East and Guwahati city in the past 40 days, and experts not denying the probability of a major earthquake in coming days, it has failed to bring noticeable cheer for insurance companies offering home and household insurance here. |
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