Page 77 - Insurance News
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
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")