Page 114 - Insurance News

General insurers seek common cap for expenses, commissions

Industry experts added the exiting commission structure and cap are based on the Insurance Act, 1938, and Insurance Rules, 1939

Single-premium insurance products to see tougher times ahead

To push long-term premium products, the Insurance Regulatory and Development Authority had last year advised insurers to go slow on single-premium products

Single premium products to see tougher times ahead

Under single premiums products, premium is paid as a lump-sum amount; in non-single premiums product, premium paid at regular intervals

Irda asked to hold draft law on making bankers agents

Financial services dept wants wider consultation with stakeholders

Final bancassurance guidelines by next month: Irda

According to the existing regulations, a bank can only tie up with one life, one non-life and one health insurance company

'Allow banks to have pacts with up to five insurers'

Insurance firms want bancassurance guidelines be revised

Green shoots emerge under Vijayan's watchful eyes

With T S Vijayan completing 100 days in office as Irda chairman, insurance industry officials are hopeful of a turnaround in the sector by the end of FY14

AirAsia Group to enter insurance business

Tony Fernandes looking at leveraging Tata Group's retail base to expand its sales operations in country

Centre to seek Parliament's nod for insurance liberalisation

The Bill needs assent of 272 MPs in Lok Sabha, of which 204 belong to Congress and 100 other MPs have assured support, increasing chances for its passage

Bharti AXA General launches add-on motor bouquet plans

The add-on cover aims to provide complete car and passenger protection

Irda revises health insurance standardisation rules

Porting from one health plan to another of same insurer is now out of portability norms

Bajaj Allianz eases insurance claim norms for Uttarakhand victims

Will settle claims on confirmation of death by local authority/government of Uttrakhand or armed forces involved in rescue operations

CPI-linked bonds: Insurance among segments interested

If the Reserve Bank of India decides to issue these, market is likely to buy even more of these than WPI-indexed ones

Irda extends deadline for refiling group products

The group products, not compliant to the new guidelines, were to be withdrawn from July 1

RBI cautions banks against mis-selling insurance products

Should have clear segregation of duties of marketing personnel from other branch functions

Quick claim settlement to drive Liberty Videocon's growth

The company has built a flat organisational structure where there are no middle layers even when it comes to claims settlement to enable faster decision making

Global insurance megatrends threaten growth, profitability: Towers Watson

Trends related to capital management, regulatory constraints and economic volatility are of greatest concern for next several years

FM asks LIC to relax norms for Uttarakhand calamity victims

Directs LIC to open major camp office in Dehradun to settle the claims on centralised basis

Repo rate cut gloom spurs short-term paper demand

Duration, in number of years, is a measure of how sensitive the price of fixed-income instruments is to a change in interest rates

Non-life insurers see 19.6% rise in April-May premium

Non-life insurers collected Rs 13,552 cr in the first two months of FY14 against Rs 11,333 cr of FY13