Page 70 - Insurance News
BFSI Sector Skill Council to train insurance agents
The move comes as the insurance sector battles increasing attrition of agents
 "BFSI Sector Skill Council to train insurance agents")
Edelweiss Tokio Life gets FIPB approval for Tokio Marine to raise stake to 49%
Foreign partner will bring in up to Rs 540 cr with fresh issuance
 "Edelweiss Tokio Life gets FIPB approval for Tokio Marine to raise stake to 49%")
E-insurance may become compulsory for all policyholders
Consumers may have to pay for physical copy; digitisation expected to save at least Rs 100 cr annually
 "E-insurance may become compulsory for all policyholders")
Life insurers' pension business plunges 90% in FY15
The pension business of life insurance players is down to a meagre Rs 2,000 crore in 2014-15, from Rs 20,000 crore in 2009-10
 "Life insurers' pension business plunges 90% in FY15")
Coming soon, health insurance scheme for all
Cover could range from Rs 50,000-1 lakh with premium from Rs 1,000-2,400
 "Coming soon, health insurance scheme for all")
Insurance commission sub-limits to be removed: IRDAI chairman
Regulator to define control in corporate governance guidelines
 "Insurance commission sub-limits to be removed: IRDAI chairman")
More insurance products for pension space needed: CII-EY report
Too frequent regulatory interventions prevented industry from settling down
 "More insurance products for pension space needed: CII-EY report")
Star Health Insurance launches revised Senior Citizens' Red Carpet
Expenses on medical consultation as on out patient incurred in network hospitals is at Rs 200
Irdai refuses any say to foreign partners
Even after raising stake to 49%, foreign insurers can't decide on strategy or products
 "Irdai refuses any say to foreign partners")
LIC targets young professionals with ULIP
Provides dual benefits of risk cover and benefits of investment markets
 "LIC targets young professionals with ULIP")
LIC to launch Ulip on August 19
Called 'New Endowment Plus', the product will offer insurance and investment in one plan
State-run general insurers' common TPA launch postponed again
The third party administrator was being set up with an investment of over Rs 200 cr by the four general insurers
Tie-up with multiple insurers for banks to be optional
Corp agents given an option to tie up with up to nine insurers, three each in life, non-life and health
 "Tie-up with multiple insurers for banks to be optional")
LIC to launch Ulip by end of August
Insurer has already received approval from regulatory authority
Insurers may not pay for Nestle's losses
Commercial general liability insurance cover that the firm availed of usually only pays for bodily damages
 "Insurers may not pay for Nestle's losses")
Health Insurance TPA of India to start operations in Sept
Claims settlement of public sector general insurers to be quicker through in-house health TPA
 "Health Insurance TPA of India to start operations in Sept")
 "Tax horror defying Modi causes AIG to snub India deals")
Global catastrophes cause losses of $37 bn
Losses in Nepal were around $5 bn and of those, only around $160 million were insured
 "Global catastrophes cause losses of $37 bn")
PSU general insurers on promotion spree, elevate 21 DGMs to GMs
In PSU general insurance space, GMs are No 2 in rank and equivalent to exec directors at state run banks
 "PSU general insurers on promotion spree, elevate 21 DGMs to GMs")
Use-and-file may soon be permitted for general insurance products
Officials say the regulator has accepted most parts of working group report
 "Use-and-file may soon be permitted for general insurance products")