Page 76 - Insurance News
Car owners may see faster claim settlement
With Irdai proposing to increase the limit for appointing external surveyors to Rs 50,000, things should get simpler for smaller claims
 "Car owners may see faster claim settlement")
PNB MetLife banks on health insurance product to drive sales
MetLife Major Illness Premium Back Cover, a health insurance policy that covers 35 critical illnesses, was launched in the city on Wednesday
 "PNB MetLife banks on health insurance product to drive sales")
MP to launch its own crop insurance scheme
CM Shivraj Singh Chouhan has been advocating a national debate on crop insurance scheme which should be farmers friendly
 "MP to launch its own crop insurance scheme")
LIC ups holding in NMDC to 10%, stake valued at Rs 5,440 cr
Prior to this acquisition, LIC held 8.11% stake in iron-ore mining company
 "LIC ups holding in NMDC to 10%, stake valued at Rs 5,440 cr")
Iyer, Vohra vie for Irdai post
R K Nair had retired as member (finance & investment) in mid-March
 "Iyer, Vohra vie for Irdai post")
 "PNB MetLife forays into health insurance segment")
RBI notifies hike in FDI cap in insurance sector
According to the guidelines, for FDI beyond 26% and up to 49%, government approval is needed
 "RBI notifies hike in FDI cap in insurance sector")
Irdai allows applicants to set up insurance office in SEZ
The regulator said these insurers or reinsurers can accept reinsurance business of all classes of business within the SEZ and from outside the country
 "Irdai allows applicants to set up insurance office in SEZ")
IRDAI draft norms says foreign reinsurer's branch in India to retain 50% business
The regulator said that the branch office shall be capable of underwriting risks and settle claims
 "IRDAI draft norms says foreign reinsurer's branch in India to retain 50% business")
Insurance industry rides the IPL wave
At least Rs 2,000 crores have been spent to avoid any loss that might occur out of cancellation or truncation of matches
 "Insurance industry rides the IPL wave")
LIC to tie up with Bandhan, UBI
At present, banks can only tie up with one life, one general and one health insurance company, apart from specialist insurers
 "LIC to tie up with Bandhan, UBI")
LIC to offer Jeevan Jyoti Bima to Dena Bank savings account holders
PMJBY will be a group life insurance cover and would be renewed annually on June 1 every year
Nuclear pool: Private sector insurers chip in with Rs 100 cr
The total size of the nuclear pool, which was officially kicked off from April 1, is Rs 1,500 crore
 "Nuclear pool: Private sector insurers chip in with Rs 100 cr")
Health Insurance TPA to begin operations on July 1
Company in process of setting up software processes and hiring personnel
 "Health Insurance TPA to begin operations on July 1")
Insurers with bank promoters to seek clarity on caps on business from one entity
Irdai said corporate agents cannot get more than 90 per cent business from one insurer in one category in the first year
 "Insurers with bank promoters to seek clarity on caps on business from one entity")
Banks' exclusive sales tie-ups with insurers set to end
Each corporate agent can tie up with up to three insurers, in the life, general and healthcare categories
 "Banks' exclusive sales tie-ups with insurers set to end")
 "Low rise for motor third-party insurance premiums")
Motor third party premiums to see marginal hike for FY16
For private cars and two wheelers, rates from April 1 would only go up by Rs 65-340 in this segment
 "Motor third party premiums to see marginal hike for FY16")
Bajaj Allianz Life launches Young Assure
Bajaj Allianz Young Assure comes with an in-built premium waiver feature in case of an unfortunate event
 "Bajaj Allianz Life launches Young Assure")
Bharti Axa to reduce focus on group health plans
The company enters travel insurance segment with launch of SmartTraveller
 "Bharti Axa to reduce focus on group health plans")