Page 73 - Insurance News

IRDAI asks insurers to maintain claims, policy records in electronic format

Insurance regulator intends to support electronic maintenance of policy and claims records

Edelweiss Tokio Life Insurance files FIPB application for foreign stake hike to 49%

Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings

Irdai to get two new members

P J Joseph top contender for post of member non-life

Expert panel suggests health insurance premium raise be linked to retail inflation

The expert panel has suggested the CPI+3 formula be a cap and an insurer should be allowed to increase up to this limit

Swiss Re looks for closer collaboration on health insurance with govt, regulator

With 58% healthcare spending out of pocket in India, economic costs of bad health to go up

Stable outlook ratings a must for foreign reinsurers eyeing India branch: IRDAI

Insurance regulator stipulates that applicant should have minimum net owned fund of Rs 5,000 crore at any time

SBI General posts 33% rise in premium for FY15

During the last fiscal, the insurer generated 70% of its business from the retail segment

Insurers promote healthy life among customers, employees

Apart from ensuring that its customers are healthy, insurers are instilling a sense of good health among their employees too

Earthquake panic leads to surge in insurance enquiries

Industry says that awareness remains a big problem

Private general insurers slow to adopt PM Suraksha Bima Yojana

A total 28 non-life insurers are registered with the sector regulator IRDAI, a majority of which are private players

Panel suggests a new disclaimer for use in insurers' ads

Wants greater transparency to enable policy holders to understand boundaries of coverage in their policies

Irdai mulls open pool for insurance agents

Agents could be trained and be part of a common pool for the industry

Panel on health insurance wants 5-year products on pilot basis

These products would cover risks otherwise generally excluded today, with option to renew or not after 5 years

IRDAI says non-linked policies to not lapse

To be kept in-force to extent of sum assured

Few takers for Jan Dhan overdraft

So far, the overdraft facility has been sanctioned in only 40,000 accounts, and only 8,000 have availed of it

Telematics devices for cars see drop in prices

Telematics is a Western concept that was introduced to understand the usage of the car including the speed at which it is being driven

Bajaj Allianz Life to bring down Ulip portfolio

Pvt players outshine even as life insurance industry faces a slump

LIC, saw a drop in premiums, on the back of having lesser number of products than what they had in the previous fiscal

India to have regional insurers soon

But high capital requirement may dissuade new entrants

No investor in insurance company can hold more than 10% of equity capital: IRDAI

Investors jointly cannot hold more than 25% of paid-up equity share capital of the insurance company