Page 81 - Insurance News

IRDA gives nod for Rs 1,500-crore nuclear liability pool

GIC, the domestic re-insurer, would be the nodal agency for creating a nuclear liability pool

RuPay cards: NPCI gets 9 bids for insurance cover

The last day for receiving quotations ended on Feb 20; the winner of the bidding process will be announced next week

Sundaram Finance to buy out UK partner RSA Group's 26% stake in insurance venture

Sundaram Finance will pay Rs 450 crore to buy out RSA Group's 26% stake

Mahindra Insurance Brokers to reach 100,000 more villages in 3-4 yrs

Firm says in FY14 itself, it had a million retail cases serviced and generated gross premium of Rs 825 cr

Insurance Ordinance: Firms wait for enactment before moving on FDI

An insurer executive says foreign shareholders not comfortable with raising their stake at this stage

Dwindling agent numbers to get boost

Insurance ordinance gives insurers right to appoint agents

Change in the air at Irdai as top posts fall vacant

Insurers fear lack of quick appointment of regulatory body members would affect industy adversely by delaying work

No more confusion: Plain vanilla insurance products coming up

Public sector insurers have already begun work to introduce easy-to-understand, low-cost policies

IRDAI bats for banks as brokers

Urges them to go for open architecture, fresh guidelines for insurance arms soon

Long-term comprehensive policy for two-wheelers to be an expensive affair

The premium rates for a three-year policy could be as much as 2.5 times higher than on an annual basis

Poor new premium collections pulls down life insurance premium

The industry collected Rs 73,777 cr in Apr-Dec 2014 as new premiums compared to Rs 84,725 cr in year-ago period

Health Insurance TPA of India to begin business in April 2015

TPA licenses are valid for a period of three years from the date of issue/ renewal, unless renewed further

Ordinance mandating third-party motor cover worries industry

Industry players ask Irdai to increase premiums to contain losses

Motor TP segment may see steeper premium hikes in 2015-16

Commercial vehicles to bear the burden as both private and public insurers have demanded the hike to cover losses

Third-party auto insurance segment may see steeper premium hikes in 2015-16

Public general insurers and private general insurers seek hike in TP premiums for 2015-16 to make up for losses

Reinsurance backup aids general insurers cut risk

Despite facing natural calamities in quick succession in the current year, the general insurance companies are not expected to be overly burdened by the premium loss as they all have reinsurance backu

Birla Sun Life Insurance signs IT outsourcing deal with IBM

BSLI will leverage mobility and cloud solutions developed by IBM Research

Max Life sees 14% growth in new premiums

The company records new business premium of Rs 1,693 cr

New micro-insurance norms soon

Sum assured for such products may rise to Rs 2 lakh

IRDAI to bring out host of new regulations to support insurance ordinance

New rules to support insurance ordinance