The commercial third-party motor pool may be dismantled. This follows four public sector general insurance companies being given a &lsquo;conditional&rsquo; nod, in a meeting with the regulator recently. The move would bring relief, particularly to smaller private general insurance companies, since by virtue of a pool, losses on account of the commercial third-party motor portfolio, are shared among all general insurance players, according to their total market share.

Third-party motor pool may be done away with

Business Standard

Aviva Life Insurance today announced a tie up with Suvidhaa, pioneer of the Services Commerce (&lsquo;S-Commerce&rsquo;) revolution in India, to launch its new payment renewal service across 500 cities and 10,000 touch points.

Aviva ties up with Suvidhaa retail for Renewal Payment Acceptance Service

The gross premium income of the general insurance industry grew 22.6 per cent in February, as compared to the year-ago period.

General insurers' gross premium income up 22.6%

Crisis in Japan forces government to brace for similar challenge.

Nuclear insurance pool creation fast-tracked

Instead, start early and invest regularly across asset classes to accumulate the required corpus for funding goals.

Not tailor-made for your needs

Bank-promoted life insurance companies to expand agent base, finding no alternative to attract new business.

Life insurers turn to agents

In the past year, insurance companies, especially in the life segment, have found the going difficult. With the regulator, the Insurance Regulatory and Development Authority (Irda), capping various charges, seeking more disclosures and tightening corporate governance, things are no longer the same. The consequence: A greater emphasis on reducing costs rather than aggressively pursuing new business.

Insurance: Under the new regime

High-end travel insurance policies offer benefits such as burglary cover, emergency cash and even lavish dinners.

Not just a travel cover

The free ride enjoyed by motor insurance claimants is set to end, with the government deciding to fix some loopholes in the policy.

Free ride for motor cover users to end

The rural population in Orissa is unaware of the role and scope of insurance ombudsman and hence, there is a need for concerted awareness drive to educate them on the subject, feels B P Parija, the insurance ombudsman appointed for the state.

Rural mass unaware of insurance ombudsman

OC has not yet taken out cancellation policy.

No terror cover for CWG

Several international insurance firms that operate in India through joint ventures exercise control over them, despite having only a 26 per cent stake. This is the maximum permissible foreign investment.

Foreign firms call the shots in several insurance JVs

Life insurance companies have witnessed a 70 per cent jump in new premium collection during the first five months of the financial year. The increase comes in a period that saw the insurers trying to push sales ahead of the change in norms for unit-linked insurance plans (Ulips).

Life insurers' new biz collection jumps 70%

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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