Page 13 - Insurance Industry

Insurers' provision pool balloons as fatalities spike in second Covid wave

Claims in 2nd wave were 3-4 times the volume seen in first wave, says an insurer

Life insurers' new business premiums grow 4% YoY in June after dip in May

In Q1FY22, the life insurance industry reported a 7 per cent increase (YoY) in NBP

Port if health insurance policy premium starts to pinch, say analysts

The best way to save on cost of term insurance is to enter at an early age

Ensure you get continuity benefits when porting your insurance policy

Don't select new policy based on price alone; look for old one's shortcomings

HDFC Life announces Rs 2,180-cr bonus for insurance plan subscribers

HDFC Life on Wednesday announced a bonus of Rs 2,180 crore to its policyholders subscribing to participating insurance plans.

IRDAI allows home treatment as add-on cover in health insurance

Norms for settlement of claims should be mentioned in the policy document and prospectus: IRDAI

General insurance industry to grow at 7-9% in fiscal 2022, says ICRA

The growth in FY20 was strong for both PSU and private sector players which increased market share in FY21.

DPIIT notifies 74% FDI cap in insurance sector under automatic route

The DPIIT has notified the government's decision to increase the foreign direct investment (FDI) limit in the insurance sector under the automatic route to 75 per cent from 49 per cent earlier

Don't delay choosing nominee for life insurance policy, say analysts

Select a dependent or person likely to shoulder family's financial responsibilities

Insurance companies seek early implementation of IFRS from govt

Currently, India follows the old solvency standards where insurers have to hold a percentage of reserve as capital.

Greater insurance cover or low premium: Strike a balance, say experts

It is advisable to buy a policy that offers more comprehensive coverage

Cyclone Tauktae: Consider Bharat Griha Raksha to shield against calamities

To safeguard your vehicle against a cyclone, supplement a comprehensive motor policy with a couple of add-ons

Insurers see huge spike in Covid-19 claims as second wave sweeps India

In absolute numbers, over 83 per cent of claims have been settled, while in value terms, just 51.38 per cent of claims have been closed

Low premiums make firms wary of Covid-19 pandemic covers, say experts

Since their launch in July last year, these covers have generated strong sales, which started slowing towards the end of FY21

Former Irdai chairman asks insurers to concentrate on prevention of risk

In the first two quarters after the onset of the Covid-19 pandemic, the insurance industry suffered negative growth. But, it bounced back as soon as the economy opened up post the lockdown

Claim can't be denied on frivolous grounds

As for the purchase of raw materials from its sister concern, the National Commission observed this was properly recorded and there were corresponding sales and exports

No immediate worry about solvency due to surge in Covid claims: Irdai chief

Irdai Chairman Subhash Chandra Khuntia talks to Subrata Panda on a range of subjects including shareholding of banks in insurance firms

Process to derive LIC's embedded value may take more than a quarter

It's a significant preparatory step for the initial public offering of the country's largest insurer

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

Insurer ICICI Lombard fourth quarter profit rises 23% to Rs 346 crore

The non-life insurer had posted a net profit of Rs 282 crore in the corresponding period of 2019-20.