The Insurance Regulatory and Development Authority (Irda) proposes to make a tie-up between a life insurance and a general or health insurance company mandatory for any policy that combines health insurance and pure term life insurance.

Irda proposes mandatory life, non-life tie-up

Business Standard

At a time when the life insurance market is contracting, Life Insurance Corporation of India (LIC), the country&rsquo;s largest insurer, is expecting a 25 per cent increase in new premium income this financial year.

LIC expects new premium income to rise 25%

Life insurers are pitching for increased exemption on investments in long-term policies. They have asked the government to consider raising the exemption limit to around Rs 1.5 lakh from Rs 1 lakh at present.

Insurers want exemption limit raised to Rs 1.5 lakh

The industry has been hit by the economic slowdown as companies have deferred their expansion plans, thereby hitting the fire and engineering portfolio of the insurers.

General insurers see 9% rise in premium

Card protection through insurance is a good idea, but stringent guidelines make it quite unattractive.

Too simple, too little

Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks.

General insurance firms line up value-added products

Companies which entered the life insurance business after state-run Life Insurance Corporation lost its monopoly are yet to find a profitably firm footing.

Losses of life insurers widen further

Two consumer-centric proposals for buyers of unit-linked insurance plans (Ulips) and health insurance policies, which were to be implemented from the start of the financial year, are yet to be introduced.

Insurance regulator delays 2 consumer-centric proposals

Bulk deal transactions involve transfer of more than 0.5 per cent of the number of equity shares of any listed company. The recent trend shows that insurance companies are increasing their exposure to select companies, especially banks, via bulk deals.

Insurers up exposure to companies via bulk deals

The Insurance Regulatory and Development Authority (Irda) has directed insurance behemoth Life Insurance Corporation (LIC) of India to chalk out a plan to reduce its stake in companies where it holds more than 10 per cent.

Draw up plan to cut holdings in cos to 10%, Irda tells LIC

Press Trust of India

By placing rigid norms for life insurance companies which wish to act as points of presence (PoPs) under the New Pension Scheme (NPS), the Insurance Regulatory and Development Authority (Irda) has dashed the dreams of even non-life insurers who wanted to act as pension fund managers (PFMs).

Irda issues strict PoP norms for insurers

After reporting low numbers in new business premium, life insurance companies are resorting to special initiatives to increase business from the rural segment, which they term as emerging markets.

Insurers eye rural areas to revive new business numbers

ING Vysya Life Insurance Company Limited, a part of Dutch financial giant ING Group, has reported a 24 increase in premium income to Rs 1,442 crore in fiscal 2008-09. Total assets under management showed a growth of 32 per cent to Rs 2,600 crore compared with the previous financial year.

ING Life premium income up 24%

The landmark judgment by the Supreme Court to award Rs 1 crore to a patient for medical negligence is likely to push up medical costs for patients and force doctors and hospitals to adopt a defensive healthcare approach.

Medical costs may rise on insurance, new approach

Battered insurer American International Group (AIG), which has received billions of dollars from the US government is looking to sell stocks of its subsidiary American International Assurance Company on an Asian bourse.

AIG plans Asia listing for life insurance subsidiary

The Insurance Regulatory and Development Authority (Irda), has reduced the fee paid by the non-life insurance companies to General Insurance Corporation of India (GIC) in order to manage the motor third party insurance business.

Irda reduces pool administrative charges

ING Vysya Life Insurance Company Limited (ING Life), part of the ING Group, a financial services company, today announced its tie-up with Mumbai-based Suvidhaa Infoserve, a company pioneering in service commerce (s-commerce), to collect insurance policy renewal payments for its customers. Customers of ING Life can now pay their policy renewal premium at over 7,000 Suvidhaa outlets across 300 cities in India, including over 700 outlets in Gujarat.

ING Life, Suvidhaa to roll out over 700 renewal collection  outlets in Guj

Public sector general insurance companies are aiming at a more than 10 per cent reduction in the claims ratio for health insurance in this fiscal year.

Govt insurance firms aim at squeeze on claims

Taking health insurance is part of going abroad, but watch when you choose to make small claims.

Travel insurance claims

The move will lead to transparency and help aged people seeking covers get to know the reasons why they have been refused a policy.

Irda allows entry in new health products till 65 years

What types of insurance do you have - Health, Home, Car and maybe a few more? If you think you&rsquo;ve got as much coverage as you could ever need, think again. What happens if you get bitten by a werewolf? In fact, there are many other parts of your life you could be insuring. Let&rsquo;s look at some interesting and wacky ones.

Crazy covers

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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