Page 11 - Insurance Companies

FinMin asks state-run banks, insurers to postpone staff promotions

The advisory issued by the DFS states that the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns

Climate change could cut world economy by $23 Trn in 2050: Swiss Re warns

Poor nations would be particularly hard hit, but few would escape, Swiss Re said. The findings could influence how the industry prices insurance and invests its mammoth portfolios

How GIC's ownership problem is keeping insurance biz from growing up

Government shareholding and preferential regulation have skewed the reinsurer's efficiency and, by extension, that of the non-life insurance industry's too

The second wave: Insurers brace for rise in Covid-19 policy claims

The insurers have received more than a million Covid-related claims as of April 10, 2021

True North sells Policy Bazaar stake to Serum Institute, four others

True North disclosed neither the quantum of stake sold nor the value

Insurance companies on hook for millions tied to Suez Canal crisis

Two tugboats speed to the canal, dredgers have shifted 27,000 cubic metres of sand

Irdai asks insurance companies to register message template with telcos

Irdai said, the new framework by the telecom regulator is to enable policyholder protection

Covid-19 impact on claims may force insurers to review prices: Irdai exec

General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur

As 6 pvt insurers set to increase term plan premiums, LIC won't raise rates

While several big players had raised rates last year, following the outbreak of the Co­vid-19 pandemic, LIC did not do so and it has no plans to do it now, sources in the company said

Finance ministry cracks the whip on insurance companies for ignoring MSMEs

Reluctant insurers have failed to offer the cover especially curated by the ministry following the UK Sinha panel's recommendations

European Union set to warn Aon over its $30 billion Willis buy: Report

EU antitrust regulators are set to warn Aon that its $30 billion bid for Willis Towers Watson to create the world's largest insurance broker may hurt competition

Irdai removes curbs on dividend payout as insurers deliver better results

But, it has advised them to take a conscious call while declaring dividends for FY21, keeping in mind their capital position, solvency margin and liquidity position

Insurers remain divided over Covid-19's status as 'pre-existing condition'

Anything that increases the risk for insurers will call for either a repricing or refusal

SBI Life, HDFC Life: Insurance cos eyeing reforms, stay invested: Analysts

While on one hand the Budget proposed to increase the FDI limit in the sector to 74 per cent, it also proposed to levy capital gains tax on ULIPs rendering insurance an unattractive investment option

Small-ticket insurance cover is for beginners: Is it really worth it?

In the long run, you must migrate to standard life, accident, and health policies

Legacy insurers can't go digital overnight, says Oracle's Prasad Rai

Insurers will also need to introspect and bring about changes internally, according to PRASAD RAI, vice-president, Global Strategic Clients Group at Oracle, who spoke to Raghu Mohan

Insurers face 'mind-blowingly' large loss if Tokyo Olympics cancelled

With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee's (IOC) executive board meets this week

Irdai introduces 'Saral Pension', a standard individual annuity product

It is an immediate-anuuity product comes that all life insurers must start offering by April 1

Auto dealers can work as sales channel for motor insurance: Irdai panel

They may work as insurance intermediaries in much the same way as an insurance broker, but must solicit motor insurance business only

Firms rush for vaccine liability cover as India kicks off vaccination drive

Insurers, too, have sought support for such coverage from India's largest reinsurer GIC Re. ICICI Lombard & New India Assurance have got support of $5 mn against risks