Page 65 - Insurance News
LexisNexis offers risk mitigation platform
To go live in Jan, for life insurers, enabling them to access complete policyholder data to check fraud
 "LexisNexis offers risk mitigation platform")
Govt eases conditions regarding insurance claim on RuPay cards
RuPay card usage condition has been extended to 90 days with effect from Nov 25, 2015
 "Govt eases conditions regarding insurance claim on RuPay cards")
Global turmoil leads to rise in political risk insurance covers, says JLT
Sanjay Radhakrishnan, CEO, JLT Independent said that several Indian MNCs are now taking the cover, with a rise in terrorism and related risks in several parts of the globe
 "Global turmoil leads to rise in political risk insurance covers, says JLT")
NPCI relaxes personal accident insurance claiming rules for RuPay
Usage condition for RuPay customers extended to 90 days from 45 days
 "NPCI relaxes personal accident insurance claiming rules for RuPay")
Nippon Life to buy 23% stake in Reliance Life for Rs 2265 crore
Deal values company at Rs 9,847 crore; joint venture to be renamed Reliance Nippon Life
 "Nippon Life to buy 23% stake in Reliance Life for Rs 2265 crore")
Electronic medical records to be delayed
The EMR initiative was to benefit insurers by enabling easier access to data and faster settlement of claims
 "Electronic medical records to be delayed")
Life insurers must disclose invesment return details in ads: IRDAI
The order will come to effect from December 1
 "Life insurers must disclose invesment return details in ads: IRDAI")
Irdai responds partially to sector feedback on rule changes
IRDAI drops earlier proposal to reduce product pricing for 10% plus deviation
Product approvals slower as IRDAI focuses on big-bang regulations
With insurance bill being passed by both the Houses, sector has got several new norms by IRDAI
 "Product approvals slower as IRDAI focuses on big-bang regulations")
Kotak General Insurance gets IRDAI licence to commence business
It can now underwrite all classes of general insurance business Including health insurance
IRDAI to seek concrete plan from banks on opening up branch network for more insurers
Banks can now tie-up with up to three life, non-life and standalone insurers each
United India Insurance receives Rs 110-cr claims intimation due to floods
Chennai-based company clocks profit after tax of Rs 356.21 cr in H1
Max Bupa appoints Ashish Mehrotra as MD & CEO
Mehrotra, earlier MD and head (retail banking) at Citibank, will replace Manasije Mishra
LIC diet sees more equity chomp
In a clear trend, investing markedly more in stocks during recent years, with marked participation in some large issues
 "LIC diet sees more equity chomp")
ICICI to sell stake in life insurance unit to Temasek, Premji
Proposed investment values ICICI Prudential Life at Rs 32,500 cr
 "ICICI to sell stake in life insurance unit to Temasek, Premji")
New cashless insurance scheme mandatory for Punjab govt employees
The government has also issued directions to the effect that member enrolment forms regarding this should be submitted till November 30
 "New cashless insurance scheme mandatory for Punjab govt employees")
50 lakh Telenor customers opt for free life insurance
Company in September announced partnership with Shriram Life Insurance and MicroEnsure
Lloyds India to have all operations in one location, says Irdai
Following passage of Insurance Laws Act, Lloyds UK has been permitted to set up branch office in country
 "Lloyds India to have all operations in one location, says Irdai")
High group health discounts continue to worry insurers
Several private insurers exiting or cutting down on this business due to discounts
 "High group health discounts continue to worry insurers")