Page 85 - Insurance News
Large risk insurance covers may see premium hardening in FY16
J&K floods, Hudhud increase credit ratio; premiums to depend also on international insurers
 "Large risk insurance covers may see premium hardening in FY16")
Premia hit rock bottom as competition intensifies in online term insurance space
Competition has intensified in the online term insurance space with the premium for a Rs 1 crore pure-term cover coming down as low as Rs 5,400 a year
Clamour for catastrophe pool to fund losses
Cyclone Hudhud powered its way inland over eastern India inflicting damage to the tune of Rs 3,000-3,200 cr
 "Clamour for catastrophe pool to fund losses")
LIC sells Rs 7,700 cr shares in 14 Sensex cos
The insurance giant picked up scrips valued Rs 5,000 cr in 10 blue-chip companies
 "LIC sells Rs 7,700 cr shares in 14 Sensex cos")
Only 5 life products can be filed in a year: Irda
LIC seeks exemption from the rule and is hopeful of getting special treatment
LIC to have Ulip by end of fiscal
The last time the life insurer launched a Ulip plan was in Jan 2013, that too after a gap of two years
 "LIC to have Ulip by end of fiscal")
Return of ULIP era to hurt insurance industry: Reliance Life CEO
Says IRDA is monitoring these trends for appropriate actions
 "Return of ULIP era to hurt insurance industry: Reliance Life CEO")
Vehicle recalls hit motor insurance
General insurance industry offers insurance for product recalls by the automobile industry
 "Vehicle recalls hit motor insurance")
United India Insurance expects profit despite higher claims from natural calamities
The company is expecting net profit of Rs 650 crore and total premium of Rs 11,000 crore by year end
Health insurance or a headache?
Along with the imperative for having this cover, consumer woes are on the rise, despite regulatory intervention
 "Health insurance or a headache?")
Growth eludes life insurers except some bank-promoted players
According to an analysis, growth has mostly come from ULIP products for most of the bank-supporter insurers such as ICICI Pru and HDFC Life
 "Growth eludes life insurers except some bank-promoted players")
'Irda favours lifting cap on agent fees'
The regulator may to suggest that the agent licensing process, which is currently handled by Irda, be handed over to insurers
 "'Irda favours lifting cap on agent fees'")
 "Mis-selling complaints by life insurance customers might drop in FY15")
Irda slaps Rs 50 lakh penalty on ICICI Lombard
The fine has been slapped for violating various norms during financial years 2011, 2012, 2013, 2014
 "Irda slaps Rs 50 lakh penalty on ICICI Lombard")
Long term motor policies for commercial vehicles is sometime away
It is estimated that the combined ratio for motor insurance might touch 200% by the end of March 31, 2015
The going gets tough for insurance claim investigators
Many operating in insurance claims investigation space are facing hardships during probing suspicious claims
 "The going gets tough for insurance claim investigators")
Bajaj Allianz General Insurance Q2 net up by 28%
The company said that this was despite settling claims worth Rs 130 cr in Jammu and Kashmir
 "Bajaj Allianz General Insurance Q2 net up by 28%")
Aditya Birla Financial Services to enter health insurance segment
Signs MoU with South Africa's MMI Holdings
 "Aditya Birla Financial Services to enter health insurance segment")
Irda asks SBI Life to comply with prior order on penalty payment
In violation of Group Insurance Guidelines, Rs 204 cr was paid by SBI Life to 14 Master Policy Holders
Irda gives special dispensation for Hudhud claims
Exemption valid for two months for claims arising out of AP and Odisha from cylone damages