Insurance News

Four reforms to enhance trust in insurance sector

From commission-free insurance plans to fee-only advisers and public complaint records, four reforms could improve transparency, curb mis-selling and help policyholders make informed choices

A look at insurance sector reforms

What electronic trading exchanges and central depositories did for capital markets in 1996, and credit bureaus did retail banking in 2000s, Bima Sugam and PIR are set to do for the insurance turf now

Life insurers' profitability in Q2FY27 to improve on protection growth

Retail protection growth and a favourable product mix are expected to support life insurers' Q2FY27 profitability, while higher claims ratios could weigh on general insurers.

10% health insurance co-pay could push patients' bill burden to 15-19%

Insurers want a mandatory 10 per cent co-pay on retail health policies for lower premiums, but with non-payable costs, policyholders could end up paying 15-19 per cent of hospital bills.

Irdai may roll out insurance distribution reforms in Jan 2027 amid backlash

The effective dates under consideration are Jan. 1 and April 1, Girija Subramanian, an executive at the Insurance Regulatory and Development Authority of India, said

Proposed distribution reforms may weigh on near-term growth: Icra

ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure

Life insurance NBP jumped 21% in Sepember; non-life premium up 6%

LIC and private life insurers drive strong new business premium growth, while general and health insurers lift non-life premiums despite a sharp decline in crop insurance collections

Insurance brokers oppose Irdai's proposed reforms, warn of job losses

The Insurance Regulatory and Development Authority of India proposed the rules as part of a discussion paper in late September and invited stakeholders to submit feedback by October 25

DriveCam, AirPass, Clinic: ACKO wants to insure you before things go wrong

Three new products, DriveCam, Clinic, and AirPass, built to protect customers before something goes wrong, not just pay out after

Centre launches livestock insurance portal to address gaps: What changes

The Centre has launched a new portal for livestock insurance to streamline enrolment, claims and monitoring. Here's what changes

Irdai commission caps likely to hit jobs, weaken reach, cautions IBAI

Brokers' body says proposed commission caps and lower expense limits could lead to job losses, weaken independent distribution and hurt insurance access in smaller towns.

Irdai's proposed commission cuts threaten PB Fintech's online economics

Analysts say PB Fintech's core online insurance revenue could take a nearly 30 per cent hit, though cost optimisation and higher volumes could cushion the impact

Irdai commission caps may weigh on insurance fee income of banks, NBFCs

Lenders with multiple insurer tie-ups and incentive-led payouts could face a sharper impact, while L&T Finance is seen as the most exposed among NBFCs

PB Fintech may explore new business options after Irdai commission cuts

PB Fintech may explore manufacturing insurance products by seeking a licence as it assesses the impact of Irdai's proposed commission cuts on its distribution business

Irdai proposes tighter expense limits, new commission caps for insurers

The regulator proposes phased cuts to insurers' expense limits, new commission caps and a ban on compulsory bundling of insurance with loans to lower costs and curb mis-selling

Property insurance rates up as insurers cut discounts after Gujarat floods

Premium rates are hardening by nearly 25-30 per cent, mainly through a reduction in discounts, according to Bajaj General Insurance

Check returns and exit costs before buying non-par insurance plans

Calculate the internal rate of return, assess surrender costs and make sure the long-term premium commitment fits your goal before opting for guaranteed-benefit insurance products

Irdai's insurance registry: What data will it link and who can access it?

From policy and claims records to intermediary and grievance data, Irdai's proposal sets out what the registry could connect and how access would be controlled

LIC's new Bima Platinum, Jeevan Raksha plans: What policyholders must know

Looking for Life Insurance? LIC's 2 New Plans Offer Savings, Income and Pure Protection

As AI agents go rogue, cyber insurers are adapting their policies

Insurers, including MSIG , QBE and Beazley, are reviewing traditional cyber policies and adapting their language to account for emerging risks