Page 115 - Insurance News
No catastrophe insurance cover yet
Earlier concept paper for pool mechanism stuck on details
 "No catastrophe insurance cover yet")
Insurance industry to grow below 5% in FY'14: CII
However, 50% of surveyed life insurance companies are projected to clock negative growth in the current fiscal
 "Insurance industry to grow below 5% in FY'14: CII")
Uttarakhand disaster: Insurers on high alert
Public general insurance companies to collaborate for speedy settlement of claims
 "Uttarakhand disaster: Insurers on high alert")
Irda introduces new category for minimum death benefit
In its earlier regulation, Irda had proposed two categories for death benefits-single products and non-single products
 "Irda introduces new category for minimum death benefit")
Average life insurance premium still at Rs 13,000 p.a.: SB Mathur
NEw initiatives like relaxation of pass percentage of agents would be beneficial to the industry, he says
 "Average life insurance premium still at Rs 13,000 p.a.: SB Mathur")
Insurers gear up to address Uttarakhand flood claims
Four public general insurers to hold meeting today to decide on claims settlement process
 "Insurers gear up to address Uttarakhand flood claims")
Irda extends health insurance product re-filing deadline
Old health products can be sold till September 30
Bharti AXA's new endowment plan
The plan provides the policyholder a lumpsum benefit at maturity with life insurance cover
Companies turn to insurers to cover cyber crime liability
Due to online data theft, cyber liability insurance has been in demand by corporates
 "Companies turn to insurers to cover cyber crime liability")
Irda draft permits insurers to deal with financial derivatives with 10 yrs' tenure
Presently insurers permitted to enter Forward Rate Agreements, Interest Rate Swaps and Exchange Traded Interest Rate Futures with a maximum tenure of one year
For high-performing culture, insurers need to shape employees' "moments that matter": PwC
To tackle transformational issues most efficiently, a corresponding change in culture is required
Private general insurers set up in-house TPAs to service claims
Insurers say grievances are much lesser when one has an internal TPA
 "Private general insurers set up in-house TPAs to service claims")
Shriram eyes Rs 500 cr from group insurance
The Hyderabad-based company's group insurance segment currently contributes Rs 150 crore
Final sub-broking norms to be delayed
To register as a sub-broker, a company and its limited liability partner should have paid-up capital of at least Rs 5 lakh, the Irda report said
Life insurers gear up for product re-filing deadline
Focus on highest selling policies; engage more brokers to push premium
Irda makes way for product approvals in one week
Insurance regulator has till now cleared 50 products under the new guidelines
 "Irda makes way for product approvals in one week")
Shift in focus: Insurers see opportunity in covering domestic travellers
IFFCO Tokio General Insurance sees biggest opportunity in insuring trips within India
 "Shift in focus: Insurers see opportunity in covering domestic travellers")
Insurance sector sees rise in profitability
Life insurers collected total premiums of Rs 4,965.37 crore for April this year, a 0.57 per cent rise over the same period last year
 "Insurance sector sees rise in profitability")
Public general insurers might charge lower premium on health products
Department of financial services says PSU general insurers can determine acquisition costs for each age group