Page 106 - Insurance News
Weather insurance may see 100% loss ratios
Crop damage due to cyclones to lead to increase in loss ratios of the company
 "Weather insurance may see 100% loss ratios")
New India launches combination product for lower income groups
This plan will offer life cover of Rs 1 lakh to the family in case of death, critical illness and other hospitalisation costs under Rs 20,000-30,000
 "New India launches combination product for lower income groups")
Irda plans to give unique identity numbers to hospitals
Regulator is collecting transactional data for health insurers, which will enable it to know how much is charged for a particular disease or a procedure
 "Irda plans to give unique identity numbers to hospitals")
Weather insurance segment may see 100% loss ratios due to cyclones
Phailin, Helen have caused extensive damage to crops and property
 "Weather insurance segment may see 100% loss ratios due to cyclones")
LIC stops selling 14 life policies over Irda diktat
India's largest insurance company has decided to stop selling as many as 14 policies, including Jeevan Mitra and Anmol Jeevan
 "LIC stops selling 14 life policies over Irda diktat")
LIC to stop selling 14 life insurance policies
Two policies New Jeevan Nidhi and Anmol Jeevan I will be discontinued from November 30
Aviva India launches online term plan 'i- Life Secure'
The new online term plan comes with a built-in income protection for 15 years
 "Aviva India launches online term plan 'i- Life Secure'")
Inter-company insurance settlements to become quicker
'Insurance Clearing House' proposed by Irda to aid this process
Cigna TTK Health Insurance bags licence from Irda
Insurance major to shortly commence India operations
 "Cigna TTK Health Insurance bags licence from Irda")
SBI Life to relaunch 10 plans by Jan 1
IIrda extended deadline for implementation of new individual product regulations for life insurance industry by three months to Dec 31
 "SBI Life to relaunch 10 plans by Jan 1")
LIC outshines pvt sector in H1 premium collection
However, ICICI Prudential, HDFC Standard Life and SBI Life, witnessed a decline in premium collection during the April- Sept period
 "LIC outshines pvt sector in H1 premium collection")
Life insurers new premium up 6.5 % for Sept quarter
LIC posted new premiums of Rs 37,906 crore for first and second quarter of 2013-14 fiscal
 "Life insurers new premium up 6.5 % for Sept quarter")
Aviva India announces launch of Aviva Next Innings pension plan
"As in cricket, in life too, you need to plan your next innings," says Aviva brand ambassador Sachin Tendulkar
 "Aviva India announces launch of Aviva Next Innings pension plan")
Aviva Life launches 13 products compliant with new Irda product norms
Irda recently announced new set of regulations for products in life space; deadline for compliance was Oct 1, 2013
Life insurers rush to revive lapsed policies
They are now offering incentives and lesser penalties for customers who have missed out on paying their premiums on time
 "Life insurers rush to revive lapsed policies")
Aviation insurance to emerge as growing segment in GI sector
Domestic aviation industry is growing at an average growth rate of around 15% per annum, says Manik Nehra, Senior Manager Aviation Insurance, Bajaj Allianz General Insurance
 "Aviation insurance to emerge as growing segment in GI sector")
Carnation Auto scale up insurance broking business
Focusing on various segments like fire, engineering, marine, liabilities and group health insurance to expand presence
 "Carnation Auto scale up insurance broking business")
United India Insurance absorbs Rs 900 cr loss on U'khand floods
The company has reported a premium of Rs 4,768 crore for the half year ended September 30, 2013
New India earns Rs 42 cr premium from satellite launches cover
Company has posted more than three times rise in its net profit to Rs 644 crore in the first half of the current financial year