Bloodthirsty' lawyers haunt UK insurers

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was demoted to managing director of Life Insurance Corporation following charges of financial irregularitiesâ€”something that eventually prompted him to take voluntary retirement in November 2012â€”T S Vijayan, 60, has been appointed as the countryâ€™s insurance regulator

TS Vijayan: The comeback man

Aim is to boost sales volumes and increase penetration

Insurance sector looking for remunerative tax incentives

Top priority will be to restore growth; maintain a balance between insurersâ€™ growth and consumer welfare

Complex agenda for new insurance regulator chief

Irda had received a complaint against the micro insurance business procured by various divisional offices

Adhere to guidelines governing business of micro insurance, Irda tells LIC

Former Life Insurance Corporation of India (LIC) chairman T S Vijayan is likely to become the next chairman of the Insurance Regulatory and Development Authority (Irda). According to sources in the sector, he has been proposed by the Union finance ministry and the application sent for final approval. The current chairman, J Hari Narayan, leaves office on Wednesday.Though the Central Vigilance Commission (CVC) had cleared Vijayan's name for the post last month, the Appointments Committee of the Cabinet (ACC) has yet to approve. Finance ministry officials said the appointment notification would be issued once this was done.Usually, the ACC doesn't turn down a name once the CVC clears it. Insurance sector sources say Vijayan would get a five-year term. Under the rules, the chairmanâ€™s tenure is five years from the date of entering office but not beyond the age of 65 years.For being eligible, a government circular had said the person should have at leas

T S Vijayan likely to be next insurance regulator

In his last public appearance, Irda chief says industry saw a huge transformation during his tenure

Finance ministry and I were like husband and wife: Hari Narayan

BS Reporter

Insurance Regulatory and Development Authority (Irda) has enabled Indian insurers and reinsurers to help cover Iran crude oil import by Indian refineries

Insurers can offer cover to Indian refineries for Iran crude import: Irda

Despite the insurance regulator proposing risk charge for debt instrument across all rating grades, except state and central government securities, the insurance companies will continue investing in those instruments due to attractive returns and keep their investment portfolio diversified

Risk charge on debt papers not to affect insurers' appetite

Insurance companies are keen to offer fund(s) approved under the Rajiv Gandhi Equity Saving Scheme (RGESS) to potential policyholders for unit-linked insurance plan (Ulip).

Insurers want to tap RGESS to push Ulip sales

Tata Capital Growth Fund, a private equity fund managed by Tata Capital, is planning to pick up stake in Chennai-based Star Health & Allied Insurance Company Ltd. The deal value is estimated to be around Rs 124 crore.The country's first standalone health insurance company already backed by PE majors including ICICI Venture and Sequoia Capital.While two sources directly involved in the deal confirmed that the fund has agreed to infuse the money for a minority stake, Star Health chairman-cum-managing director V Jagannathan said it was too early to comment.The sources said the fund had agreed to infuse $23 million and in the next few weeks deal will be signed.Sequoia Capital has invested around Rs 140 crore in Star Health Investments Pvt Ltd (an SPV floated to promote Star Health Insurance) for around 40 per cent, while ICICI Venture has invested Rs 130 crore for a 24 per cent stake directly. Some of the other major investors include Oman In

Tata Capital to pick up stake in Star Health

Insurance companies often trample on consumers&rsquo; right to information by suppressing material information. Despite specific guidelines in place for settlement of claims on a non-standard basis, insurers withhold these from the insured, so that they can reject the claims, rather than settling these on a non-standard basis.

Read the policy fine print

First-year premium collection by life insurance companies declined 11.89 per cent in April, compared to the corresponding period last year.

Life insurance premium collection dips 12% in April

The Life Insurance Corporation (LIC) of India's south zone, which covers Andhra Pradesh and Karnataka, has registered a total new premium income of Rs 13,000 crore in 2010-11, which represents a 50 per cent growth over the previous year.

LIC south zone sees 50 pc premium growth in FY11

I am 34 years of age and earn Rs 28,000 a month. I plan to retire around 50. I need a substantial corpus to take care of all my expenses after retirement. For this, I plan to take a pension plan.

Life Insurance: Deepak Sood

Cholamandalam MS General Insurance Company Ltd (Chola MS), a joint venture between Chennai-based Murugappa group and Japanese insurance firm Mitsui Sumitomo Insurance Group, is targeting a premium of Rs 1,400 crore, in the current fiscal, marking 40 per cent growth, said a senior company executive.

Chola MS targets 40 pc growth in premium

Buying insurance for your vehicle is no guarantee that the insurer will pay for all damages. Insurers can reject claims that do not meet the company&rsquo;s internal policy criteria. At times, certain avoidable mistakes are committed by consumers that make their claims invalid.

Why are motor claims rejected? 

The Insurance Regulatory and Development Authority (Irda) today released regulatory guidelines for mergers and acquisitions (M&amp;As) for non-life insurance companies.

Irda releases M&A guidelines for general insurance firms

Insurance is a legal contract and, hence, the insurer should charge premium according to the terms of the contract.

General Insurance: Gaurav Garg

Some life policies offer the benefit of indexation.

Life Insurance: V Philip

Insurance News: Visit Business Standard to know about the latest Insurance Industry News, online insurance information, expert views and updates.

Insurance News: Latest Insurance News, Insurance Industry Policy Headlines and Updates | Business Standard

Visit Business Standard to know about the latest Insurance Industry News, online insurance information, expert views and updates.

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