Page 87 - Insurance News
'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
 "Long term motor policies for commercial vehicles is sometime away")
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
Coming up: Regional health insurers
Insurance amendment Bill proposes to reduce minimum capital to Rs 50 cr. This could enable smaller firms enter the sector and be regional players
 "Coming up: Regional health insurers")
Irda to look into price undercutting in group health insurance segment
The insurance regulator expressed concerned over low premiums quoted by companies, as well as a high incurred claims-premium ration
 "Irda to look into price undercutting in group health insurance segment")
 "Differential penalty quantum a normal practice: T S Vijayan")
AP asks insurers to speed up claim settlement process for industrial units
The industrial units located in various industrial estates in Visakhapatnam and the neighbouring districts are estimated to have suffered a loss of around Rs 700 cr
 "AP asks insurers to speed up claim settlement process for industrial units")
Insurance sector to get a facelift
Sector set to get FDI boost from changes incorporated in new insurance Bill
Cyclone Hudhud: Insurance claims to cross Rs 4,000 cr
Given the enormity of losses in natural calamities, the call for setting up of a natural catastrophe pool gets louder
 "Cyclone Hudhud: Insurance claims to cross Rs 4,000 cr")
 "Big firms vie for health insurance pie")
Moody's withdraws LIC's rating, cites own business reasons
The withdrawal, however, does not reflect the creditworthiness or quality of management of the insurer
 "Moody's withdraws LIC's rating, cites own business reasons")
 "Life insurers oppose Sec 45")
Irda looking to allow insurers to deal with equity derivatives
The insurance regulator has already allowed insurers to deal in rupee interest rate derivatives
More features likely in domestic travel insurance
Additional features could include assistance for emergency evacuation during domestic travel, apart from covers for hand baggage
 "More features likely in domestic travel insurance")