Page 75 - Insurance News
Transfer of shares in insurers that leads to shareholding change not allowed: IRDAI
The regulator said that they would conduct their own due diligence for approval of such a transfer
 "Transfer of shares in insurers that leads to shareholding change not allowed: IRDAI")
Jan Suraksha: Claim servicing may be a challenge
The plans have a cover of Rs 2 lakh each, with a premium of only Rs 12 a year for accident insurance and Rs 330 for the life product
 "Jan Suraksha: Claim servicing may be a challenge")
Natural catastrophe pool still remains a distant dream
Currently, India doesn't have a single cover for all catastrophic incidents
 "Natural catastrophe pool still remains a distant dream")
 "New India Assurance to focus on health, motor portfolios")
Aegon Religare Life Insurance to expand portfolio through riders
Will focus on direct sales channel, digitalisation
 "Aegon Religare Life Insurance to expand portfolio through riders")
Insurers to ramp up teams for grievance redressal after Irdai whip
Irdai has asked insurers to handle policyholder grievances with seriousness, promptness and empathy to enhance the trust and confidence in the insurance sector
 "Insurers to ramp up teams for grievance redressal after Irdai whip")
Nepal quake: Major insurance claims from property damages expected
Insurers begin surveys; easier claim payouts to be facilitated
 "Nepal quake: Major insurance claims from property damages expected")
Insurers, banks oppose mandatory cap on business from one insurer
Irdai has said no corporate agent can get more than 90% business from one insurer in life, non-life or health in their first year of operation
M Nagaraja Sarma to head Health Insurance TPA of India
TPA to begin operations from 1 July, 2015
 "M Nagaraja Sarma to head Health Insurance TPA of India")
Maharashtra ropes in Swiss Re to streamline crop insurance schemes
Proposes village level surveys to assess crop loss instead of circle level through satellite imaging
 "Maharashtra ropes in Swiss Re to streamline crop insurance schemes")
RSBY customers left in limbo; uncertainty prevails over future of scheme
Uncertainty prevails over future of scheme
 "RSBY customers left in limbo; uncertainty prevails over future of scheme")
Coverfox.com raises Rs 75 cr in Series-B from Accel, SAIF partners
Coverfox had earlier raised $2 mn in a Series-A round from Accel India and SAIF partners
 "Coverfox.com raises Rs 75 cr in Series-B from Accel, SAIF partners")
 "Dena Bank, Union Bank tie up with insurers for social schemes")
Insurance reforms & their implications
Business Standard takes you through the reforms and their impact on the policyholder
 "Insurance reforms & their implications")
Star Health Insurance launches new version of comprehensive insurance
Under this policy, Rs 2.5 lakhs would be given for bariatric surgery
 "Star Health Insurance launches new version of comprehensive insurance")
Insurance surveyors & loss assessors' numbers may decline
This is because of an expected business drop owing to smaller claims going out of their purview
 "Insurance surveyors & loss assessors' numbers may decline")
PSU banks to tie-up with insurers for social schemes by June 1
Insurers to offer Rs 2 lakh accident cover for a premium Rs 12 a year and life cover of Rs 2 lakh for an annual premium of Rs 330
 "PSU banks to tie-up with insurers for social schemes by June 1")
Insurers propose to transfer liability burden to car owners
With limited liability of Rs 15 lakh in third-party motor insurance, accidents could get a lot costlier for the insured
 "Insurers propose to transfer liability burden to car owners")
Rs 2 lakh ceiling for life insurance policies sold through CSCs
Only products that are approved for it can be sold for the CSC model