Page 112 - Insurance News
Banks' rush unlikely for insurer licence
Prior RBI permission a hurdle, given its views; business interest needs to be clearer
 "Banks' rush unlikely for insurer licence")
Soon, share electronic medical record with insurers
Insurers opine new system Will help improve pricing in long run
 "Soon, share electronic medical record with insurers")
Expand existing networks for insurers to grow: Rajiv Takru
Financia service secretary says banking correspondents have also been allowed to sell insurance
 "Expand existing networks for insurers to grow: Rajiv Takru")
LIC debt investment cap raised to 20%
No decision on raising equity cap
 "LIC debt investment cap raised to 20%")
Irda asks insurers for guidelines to TPAs for health claims
Says every insurer utilising TPA is advised to send a specific confirmation to this effect to the Authority on or before Sept 30, 2013
 "Irda asks insurers for guidelines to TPAs for health claims")
Reliance General eyes SMEs for health insurance
SMEs estimated to employ nearly 75 million people in country and contribute 9-10% of India's GDP.
 "Reliance General eyes SMEs for health insurance")
Miscellaneous insurance sees an uptick in customer demand
Premium collection from the miscellaneous category stands at Rs 8,397 cr in FY13, up from Rs 7,049 cr in FY12
Need to wait and watch, if banks want to become brokers: Insurers
New Irda norms may not necessarily bring open architecture of bancassurance; RBI approval crucial
 "Need to wait and watch, if banks want to become brokers: Insurers")
Banks can be insurance brokers subject to RBI approval: Irda
The licence, once granted, will be valid for three years
Renewal premium touches Rs 1.79 lakh crore in March'13: Life Insurance Council
Indian life insurance industry, has around 36 crore in-force policies, with more than 72% branches in rural and semi-urban geography
U'khand disaster: Life insurers receive claims of Rs 100 cr
General insurance companies receive claims of Rs 1,500 crore
 "U'khand disaster: Life insurers receive claims of Rs 100 cr")
No added charges for ECS payment: Irda
ECS is an electronic mode of payment receipt for transactions that are repetitive, periodic in nature
Miscellaneous insurance sees customer demand
With packaged policies being developed, more customers were eager to buy these plans
Bharti AXA Life launches secure income plan
At end of term, policy holder starts receiving tax-free guaranteed income until maturity
 "Bharti AXA Life launches secure income plan")
Project insurance sees lower uptick
With a lull in industrial production, the number of new projects coming up has also seen a drop
 "Project insurance sees lower uptick")
Standard proposal form implementation delayed to April 1
Irda has deferred implementation, taking into account representations of life insurance industry
 "Standard proposal form implementation delayed to April 1")
Common in-house TPA to be operational by April
This TPA will look into health claims, would handle majority of claims received by public general insurers
LIC set to function at full strength of 4 MDs
Two new MDs to be appointed in one month; Usha Sangwan may become first female MD
 "LIC set to function at full strength of 4 MDs")