Page 67 - Insurance News
Liability insurance takes shape via tailor-made products
Insurers say liability covers form only 10-12% of their overall portfolio, but the number is growing with exposure
 "Liability insurance takes shape via tailor-made products")
Insurers, reinsurers may not get tax incentives in GIFT City
International Financial Service Centre will allow insurers and reinsurers to offer foreign currency policies from India
 "Insurers, reinsurers may not get tax incentives in GIFT City")
Pay minimum annuity of Rs 1,000 monthly: IRDAI to insurers
It also said gross sum cannot be less than Rs 5,000, except under Micro Insurance and Health Insurance Business
Jan Suraksha schemes get 117 mn enrolments
Scheme website shows public sector banks sold largest number
 "Jan Suraksha schemes get 117 mn enrolments")
Insurers, MFs raise investing duration
Anticipation of further fall in bond yields and more accommodation by RBI
 "Insurers, MFs raise investing duration")
General insurers crackdown on claim exaggerations
Hospitals and insurance companies tie-up with each other so that the former is included in the network of insurance company
Telenor offers free life insurance to subscribers
By spending on regular recharges with small incremental value, the customers will get insurance upto Rs 50,000
 "Telenor offers free life insurance to subscribers")
Six insurance cos evince interest to raise FDI cap to 49%
A committee on health insurance is looking into the issue and expected to submit its report soon, says IRDAI Chairman
 "Six insurance cos evince interest to raise FDI cap to 49%")
Bajaj Allianz Life, Dhanlaxmi Bank partner for insurance sales
The bank will continue to be a corporate agent for nine years and sell life insurance products
 "Bajaj Allianz Life, Dhanlaxmi Bank partner for insurance sales")
Greater disclosures, segment-wise reporting on the anvil for insurance sector
On general insurance side, this would lead to greater curbs on discounting practices in areas like fire and group health insurance
 "Greater disclosures, segment-wise reporting on the anvil for insurance sector")
Insurance Regulator may allow long term products in health
Long-term products proves a hit in two-wheeler insurance
 "Insurance Regulator may allow long term products in health")
Risk-based capital to assess solvency: Irdai
The committee, however, says adopting this will take time as it will have to be discussed with insurance sector stakeholders
IndiaFirst gets Rs 150-cr capital infusion
The new round of capital infusion takes the total share capital to Rs 625 cr
 "IndiaFirst gets Rs 150-cr capital infusion")
IndiaFirst Life gets Rs 150 cr additional capital infusion
Three promoters infuse more capital as per shareholding pattern; no dilution of stake now
Seniors seeking higher health cover
Insurers say from an average of Rs 2-3 lakh, the size of cover has risen to Rs 5-6 lakh
 "Seniors seeking higher health cover")
Banks to be liable for the insurance they sell
Irdai chief T S Vijayan says intermediaries should work in the best interest of insurance policyholders
 "Banks to be liable for the insurance they sell")
Reinsurance norms to be finalised soon: IRDAI chairman
T S Vijayan says he expects at leat 4-5 foreign reinsurers to enter the domestic market
 "Reinsurance norms to be finalised soon: IRDAI chairman")
Irdai to have inspection, consumer affairs depts in Mumbai
Insurance executives say Mumbai office will give them greater access to the regulator
 "Irdai to have inspection, consumer affairs depts in Mumbai")
 "Irdai panel suggests better disclosures")
Non-life insurers see 'appification' of claims, sales
Liberty Videocon General Insurance is the latest to launch a tab-based claims surveyor application for faster motor claims processing
 "Non-life insurers see 'appification' of claims, sales")