Page 113 - Insurance News

SBI General Insurance books premium of Rs 271 crore in Q1

SBI General has planned to further expand its footprint across SBI and its associate banks

Paperless insurance coming soon for all

New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch

Life insurers see 1.2% dip in new premiums

Life Insurers collected new premiums of Rs 19,216.18 cr for three-month ended June

No transfer of corporate agent licence within one year: Irda

These norms will be implemented with immediate effect

DLF to exit life insurance JV

Sell its 74% equity stake in DLF Pramerica Life Insurance to Dewan Housing Finance

Irda proposes to tighten norms for web aggregators

Regulator say each aggregator would be paid a flat fee not exceeding Rs 50,000 per year for displaying a product in the comparison charts of its website

Deposits charged by hospitals in cash-less plans to see a decline

New health norms with list of exclusions in policy to resolve the issue

Irda levies penalty of Rs 10 lakh on Max Life Insurance

The company paid more commissions than was permitted under existing norms to Barclays Investments and Loans (India) in two financial years

Natural calamity in Uttarakhand: Insurers peg losses up to Rs 3,000 cr

The industry has started making preparations to deal with the claim-settlement process

Insurers turn attention to high net worth customers

Offer customised products and services for this segment

Insurers hope for House clearance

The insurance amendment Bill, pending before Parliament for nod, proposes an increase in insurance FDI from 26% to 49%

Need based analysis norm faces flak from insurers

The companies, however, have made representation before regulator to make amendments to this provision

Insurance companies might push more of non-participating products

In non-participating policies, policyholders are not so entitled

IRDA allows insurers to earn extra yield on equities via SLB

Under the SLB scheme, those having securities can lend their securities for consideration and those requiring securities can borrow the same

Maternity cover to get costlier

With Irda mandating broader & longer definitions on ambit, insurers say a 20-25% rise in policy cost is inevitable

ICICI Prudential relaxes claims process for U'khand victims

Will accept list issued by hospitals/ police/ armed forces in case a death certificate from municipal authorities not available

Maternity cover may see rise in premium

Irda says maternity expenses shall include medical treatment expenses traceable to childbirth

Life insurers' new premiums fall 4%

Life insurance companies had begun new financial year with a marginal rise in new business premiums

Reliance Life new premium growth doubles in Q1

Total premium grew by 12% to Rs 914 crore in first quarter, as against Rs 815 crore in same period last year

Non-par products to flood market, post new product rule

Insurers said there are very few design options under new structure, for participating products