Insurance News

Cyberattacks pushing up insurance claims; premium rates stay soft: Experts

Rising ransomware attacks and data breaches have pushed up cyber insurance claims in the banking sector, but increased reinsurance capacity continues to keep premium rates soft.

NBFCs brace for hit from Irdai's insurance distribution overhaul

Shriram Finance expects a Rs 100 crore reduction in insurance commissions, while Piramal Finance estimates an 18-24 basis point impact on return on assets if Irdai's proposed rules take effect

BFSI Insight Summit: Health insurance leaders split on dedicated regulator

At the BFSI Insight Summit 2026, health insurance leaders differed on the need for a dedicated regulator but agreed on improving hospital billing transparency, claims and affordability

AI poses new risks, makes assessment more complex: General insurers

At the BFSI Insight Summit 2026, general insurance leaders warned of mounting cyber and AI risks, calling for stronger underwriting, reinsurance protection and clearer policy terms

BFSI Insight Summit 2026: Life insurers seek longer transition period

Industry leaders back customer-centric changes but flag impact of commission caps, expense limits, and uniform implementation timelines

Insurance must grow 1.5-2x faster than GDP: Irdai chief Ajay Seth

Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage

Big part of health insurance is a pull product, not push: Irdai's Ajay Seth

At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage

Proposed Irdai norms need a longer glide path, say life insurance leaders

Business Standard BFSI Insight Summit: Life insurance industry leaders called for phased transition to proposed distribution reforms, saying insurers need time to adjust costs while expanding coverage

Don't let erroneous hospital records hold up your claim: Know your rights

A Delhi consumer court ruling highlights why insurers cannot reject claims over unreasonable document demands and why policyholders must ensure their medical records are accurate.

Irdai extends feedback window for proposed insurance distribution reforms

The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors

Decline in fire insurance premium moderates to 14% in September 2026

Commercial fire insurance premiums fell 13.6 per cent in September, compared with a 24.8 per cent decline in August, as catastrophe losses prompted insurers to ease discounting

Irdai's proposed distribution reforms aim for orderly transition: Ajay Seth

Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028

ICICI Lombard Q2FY27 net profit up 15.5% at ₹946 crore on income growth

ICICI Lombard's Q2FY27 net profit rose to Rs 946.4 crore on premium and investment income growth, while underwriting losses widened and the combined ratio reached 107 per cent.

ICICI Life Insurance's profit up 25% at ₹374 cr on higher premium income

The insurer's net premium income rose 16.56 per cent to Rs 13,804 crore in Q2FY27, while value of new business grew 20.3 per cent to Rs 712 crore, with margins improving

Regulatory headwinds may cloud dealmaking in a buzzing insurance sector

Insurers and distributors have warned that the changes could constrain near-term growth, hit distributor revenues and affect employment

Life insurers' profitability in Q2FY27 to improve on protection growth

Retail protection growth and a favourable product mix are expected to support life insurers' Q2FY27 profitability, while higher claims ratios could weigh on general insurers.

Co-payments and deductibles in health insurance: Are they right for you?

Both options can lower premiums, but they increase out-of-pocket expenses during claims. Understand how they work before choosing a health insurance policy

Proposed distribution reforms may weigh on near-term growth: Icra

ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure

Life insurance NBP jumped 21% in Sepember; non-life premium up 6%

LIC and private life insurers drive strong new business premium growth, while general and health insurers lift non-life premiums despite a sharp decline in crop insurance collections

GST Council allows employers to claim ITC on group insurance coverage

The GST Council's decision to allow input tax credit on employee group health and life insurance is expected to reduce coverage costs for employers, particularly MSMEs