Page 30 - Insurance News

Health premiums on the mend: Non-life insurance in double digits

Group health plans drive the 29% growth in health premiums during the first eight months of FY23

Delhi HC directs Irdai to introduce products for persons with disabilities

The Delhi High Court has directed the Irdai to ensure the products are introduced on an early date for persons with disabilities so as to enable them to obtain health insurance coverage

In a first: Bajaj Allianz set to launch surety bonds on December 19

SBI General Insurance and Tata AIG General Insurance are also said to be looking at launching a surety insurance product soon, said sources

New business premium of life insurance companies rises 30% in November

Private insurers' APE growth rebounds after lagging behind for three months

Govt to launch first surety bonds for road contractors on December 19

Will provide relief to contractors, free working capital stuck in bank guarantees, says Gadkari

More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

GIEAIA asks Centre to send insurance amendment Bill to Parliamentary panel

The amendment Bill should be first sent to the Standing Committee of Finance in Parliament, demands the General Insurance Employees' All India Association (GIEAIA)

Govt proposes issuance of one licence for all insurance businesses

Suggests allowing insurers to sell other financial products

Irdai tonic for health insurance: A regulator for hospitals and doctors

By asking health insurers to access a national list of doctors, the regulator hopes to encourage them to offer more flexible policies outside of the hospital network

Irdai endorses panel's view to cut obligatory cession to zero from 4%

The obligatory cession was reduced from 5 per cent to 4 per cent in FY23. The regulator has been reducing the obligatory cession over time

Irdai approves amendments, simplifies rules to set up insurance firms

Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV

Removal of cap: Insurers to get flexibility to allocate commissions

According to Irdai, the revised draft regulations on commissions emphasise on the board's oversight through a board-approved policy on the payment of commission

Social safety net product Bima Vistaar being developed for Bima Sugam

The regulator last month had formed a 24-member committee, headed by Devasia, to develop an affordable, accessible and comprehensive cover - Bima Vistaar -- for rural population

Irdai draft norms do away with specific caps on commissions to agents

Proposes that commissions to agents can't exceed management expense limit

Irdai proposes allowing insurers to invest in unlisted companies

Easier access to funds would help lift the mood in a startup sector that has been hit by the global tech market rout

'IRDAI in talks with govt to relax Rs 100-cr entry capital for insurers'

The IRDAI has suggested the government to ease the minimum capital requirement of Rs 100 crore and permit the regulator to fix the amount depending upon business plans of the prospective company

Building trust: LIC plans bonus shares to shore up faltering stock

Insurer also eyeing higher dividend to regain investor confidence

Irdai sets up consultative committee to increase health insurance

15-member panel asked to identify challenges for health insurance business

Insurance regulator Irdai proposes changes to reinsurance regulations

Seeks to revise order of preference while placing reinsurance business

Life insurers' retail protection biz down YoY, seen stabilising going ahead

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2