Page 105 - Insurance News

LIC Housing Finance takes over Orbit Corp's Mumbai property

Orbit's total amount outstanding is Rs 95.50 crore including interest, expenses and other charges

HSBC not to sell its stake in insurance JV

Insurers not hopeful of banks entering broking business

RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers

RBI norms may dissuade smaller banks from becoming insurance brokers

Life insurers say RBI's stringent capital requirements will make it tougher for smaller banks to enter broking space

Now, inter-company insurance settlements will be easier, quicker

Life insurers on war footing to reduce complaints

With number of complaints on the rise, focus is to retain customer trust

'Good assets vital for banks to enter insurance'

Policyholders throng insurance ombudsmen offices

Number of registered complaints at these offices touches 24,782

General insurance penetration on the rise

Non-life insurer's maiden yearbook says this year it has gone up 0.73 as a % of GDP

General insurance to grow at 15% this financial year: Icra

Study says that private sector players have maintained a higher growth rate compared to their PSU peers

Pre-packaged medical insurance not feasible: insurance firms

Court on August 2 asked Irda to issue guidelines to insurance companies, requiring them to come out with a pre-packaged scheme for 42 aliments

General insurance penetration rises to 0.73

Insurance density has increased from Rs 571 in 2012-13 from Rs 158 in 2003-04

'Top 50 districts have seven life insurance agents for 1,000 people'

However, bottom 120 districts have average of 0.7 agent licenses per thousand people

Complaints on life insurance increase; non-life sees fall

There were a total of 78,927 registered non-life complaints for 2012-13, compared to 93,155 complaints in 2011-12

Irda to approve products under use-and-file route

In the use-and-file regime, an insurer has to adhere to the standardised norms and later send information on the product to the regulator's office

'LIC's first-premium growth to surpass 12 per cent'

Tthe insurance company is seeing 30% growth in first year premiumss.

Irda fixes motor TP declined risk pool

Insurance firms saw Rs 17,590-cr motor claims last year

General insurers bracing up with high losses from motor segment, especially from third party mandatory motor insurance segment

Insurers incur Rs 17,590 crore worth motor claims in 2012-13

Total number of claims stood at a staggering 6.4 million

Irda mulls unique identity numbers for hospitals

This will help identify charges for different procedures in different hospitals, says T S Vijayan