Page 108 - Insurance News
GIC Re plans to be part of Lloyd's in three years
Have begun small steps on that front, says CMD A K Roy
 "GIC Re plans to be part of Lloyd's in three years")
Insurers revisit product distribution strategies
A life and non-life company would tie-up with each other to sell the product
 "Insurers revisit product distribution strategies")
Insurers should focus on sustainable profitable model: Chanda Kochhar
Says low penetration levels of insurance cause of concern
 "Insurers should focus on sustainable profitable model: Chanda Kochhar")
Phailin unlikely to bleed insurance companies
Losses to be well below Rs 100 crore, say insurers
 "Phailin unlikely to bleed insurance companies")
Insurers revisit product distribution strategies
Combi products and sale through malls being reworked
Birla Sun Life Insurance launches traditional participating plan
BSLI Savings Plan is savings-cum-insurance plan that aims to provide secured growth to customer's savings
Insurance biz may reach Rs 4 lakh crore this year
The total premium collected by general and life insurance industry stood at Rs 3.75 lakh crore last year
Power, oil & gas plants in Odisha, AP adequately covered: Insurers
Industries, operating plants adequately covered, say insurers
 "Power, oil & gas plants in Odisha, AP adequately covered: Insurers")
30% of life insurers' risks may go to GIC Re
Non-life insurers cede 5% risks compulsorily to the reinsurer
 "30% of life insurers' risks may go to GIC Re")
Irda seeks to prohibit denial of cover to eligible HIV patients
Asks life insurers to have underwriting policy to determine eligibility
 "Irda seeks to prohibit denial of cover to eligible HIV patients")
Delhi has higher health insurance population: Study
There is a higher incidence of preventive health checks among the insured population
 "Delhi has higher health insurance population: Study")
With few new corporate bonds, LIC turns to NCD issues
These fill the need for higher return and security for idle funds
 "With few new corporate bonds, LIC turns to NCD issues")
Future Generali launches Future Generali Pearls Guarantee
After premium payment term, at end of every year till maturity, 10% of sum assured paid to customer as money back
Health Insurance TPA of India formed, for govt-owned general insurers
This company which was incorporated on August 14, 2013, as per information available from Ministry of Corporate Affairs, recently held its first board meeting
Irda expands 'key persons' definition
The regulator has expanded the definition of 'key persons' to include the posts of 'compliance officer' and 'chief risk officer' of insurance firms
Wait for Irda member-actuary continues
R Kannan, Former Member-Actuary at Irda retired in early 2011 and the position is vacant since then
Return on premium products could become costlier
These plans may be required to offer surrender value from Jan 1, pushing prices upwards
Mandatory training for agents puts pressure on insurers
Insurers say they don't mind bearing the training cost but high attrition has made the process futile
 "Mandatory training for agents puts pressure on insurers")
Life insurers bet highly on premium club
Indian insurers looking to send more agents to Million Dollar Round Table
 "Life insurers bet highly on premium club")
IRDA member actuary's appointment could be some time away
Life insurers feel delay in appointment is affecting the industry