Page 9 - Insurance News

BimaPay targets Rs 5,000 cr corporate insurance premium financing by FY30

The company will cover all sectors including IT, logistics, healthcare, manufacturing and more, offering products such as group medical, fire and group personal accident insurance

General insurers launch ₹120-cr campaign to raise insurance awareness

With penetration slipping to 3.7% in FY24, general insurers roll out "Acha Kiya Insurance Liya" campaign modelled on mutual fund success to drive awareness

LIC eyes higher non-par product mix to boost margins post Q4 surge

Life Insurance Corporation sees strong profit growth in Q4FY25 and plans to increase focus on high-margin non-par products while expanding its agent base and channel mix

Is your health policy Covid-ready? Key features you must look for

Check if your health insurance covers home care, tele-consultations, PPE kits, room rent waiver and has sufficient sum insured to deal with Covid-related hospitalisation costs

Motor TP premium hike crucial for survival: New India Assurance CMD

New India Assurance CMD Girija Subramanian says motor third-party premium hike is urgent to ensure business viability as incurred claims hit 108.2 per cent in FY25

Home insurance must: Loss of rent for landlord, liability cover for tenant

Insuring contents is critical if a property being rented is furnished; declare valuable items to insurance company

LIC push lifts life insurers' new business premiums in April, shows data

According to Life Insurance Council data, the life insurance industry's NBP in April stood at ₹21,965.73 crore

Indo-Pak tensions trigger rise in war insurance cover enquiries from firms

Most commercial insurance policies exclude war cover but companies are seeking protection under aviation, marine and political violence categories amid rising tensions

IPL insurance claims not triggered unless tournament is cancelled: Experts

With IPL suspended for a week amid India-Pakistan tensions, experts say insurance claims will not apply unless the tournament is officially cancelled or war cover is triggered

Non-life insurers post 13.5% premium growth to Rs 33,688 cr in April

Gross direct premium underwritten by non-life insurers rose 13.5 per cent YoY in April to Rs 33,688 crore, led by growth in general and standalone health insurance

Hike Motor TP rates, cut GST on health premiums: Non-life insurers to govt

DFS Secretary urges insurers to improve claims processing in order to reduce customer inconvenience

Indo-Pak tension: War risk premium in marine, aviation sector may inch up

Marine and aviation insurance premiums may rise if India-Pakistan tensions escalate, with reinsurers likely to revise exclusions and reassess cyber risk exposure

IFFCO-Tokio enters surety bonds business to support infra projects

IFFCO-Tokio joins a handful of insurers offering surety bonds to support small contractors and infrastructure projects as segment eyes Rs 3 trillion growth by 2030

Public-sector banks' bancassurance growth slows amid core banking push

FM, ex-Irdai chairman had raised concerns over misselling

Demand for D&O liability insurance rises 25-35% in FY25, says report

Policybazaar reports surge in demand for D&O insurance in FY25 driven by board accountability, ESG lapses, IPO activity, and increased scrutiny of leadership risks

Banca channel for PSB-led life insurers slows in FY25 as incentives dry up

A renewed focus on core business, discontinuation of incentives for employees, and customer movement to digital purchases of insurance are the key reasons for the decline

Non-life insurers to meet DFS secy for revision in motor third-party rates

Cession is the portion of insurance premiums that insurers pass on to a reinsurer, in this case, GIC Re

Growth in number of life insurance policies sold falls steeply in FY25

The significant decline in the number of policies sold can be attributed to the implementation of new surrender value norms

Life insurers' NBP grows 5% in FY25; premium collected shy of Rs 4 trn mark

The premiums of the largest private life insurer - SBI Life Insurance - slipped by 7 per cent Y-o-Y to Rs 35,576.67 crore

Marine, trade risk insurance likely to face US reciprocal tariff heat

According to industry experts, if the 26 per cent tariffs are imposed on India's goods, it is expected to put pressure on marine and trade risk insurance in the country