Page 2 - Insurance

Policy changes create room for foreign insurers to explore: Sompo MD

India's non-life insurance sector is set for faster growth as the Insurance Amendment Bill allows 100% FDI, boosts investor confidence and strengthens regulation, says Mathur, Universal Sompo CEO

Insurance intermediaries with high commissions may see payouts drop

Currently, 50 per cent of life insurance investment is allocated to government securities and the balance 50 per cent to other alternative investments

Insurance amendment Bill strengthens Irdai: LIC chief R Doraiswamy

For LIC, the proposed legislative changes will help the company in strengthening its reach, leveraging technology at scale, and for universal insurance coverage

Insurance Amendment Bill: High-commission intermediaries may see payout cut

The Insurance Amendment Bill empowers IRDAI to limit high commissions, reclaim unlawful gains, and strengthen oversight of intermediaries while opening new investment avenues for insurers

Insurance reforms pave way for 100% foreign ownership in pension firms

The measure is an "enabler" that will help draw interest from global investors in the pension fund sector over time

FDI cap hike to 100% in insurance to boost coverage, jobs: Experts

Increasing the foreign direct investment limit to 100 per cent in the insurance sector will help expand coverage, create jobs and make life cover policies more affordable and accessible, said experts. They were commenting on the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which was passed by the Parliament on Wednesday. The bill seeks to raise FDI (foreign direct investment) limit in the insurance sector from 74 per cent to 100 per cent. Terming the legislation as a landmark reform, Bajaj General Insurance MD and CEO Tapan Singhel said it reflects a government that has listened carefully to citizens and industry stakeholders and responded with a long-term vision. By strengthening policyholder protection, improving transparency, and empowering the regulator, the Bill builds trust at the core of the insurance system, Singhel, who is also the chairman of the General Insurance Council, said. "This will help expand insurance coverage, create jobs across the value .

Insurance industry flags concerns over proposed Insurance Amendment Bill

Under the proposed Bill, the revised definition of insurance business seeks to allow insurers to enter into non-insurance contracts as well

Insurance Amendment Bill to ensure accessibility, affordability for all: FM

Nirmala Sitharaman further noted that India needs further capital infusion into the insurance sector

Govt holds road shows to sell 10% stake in General Insurance Corp

India plans to sell a total of 10 per cent stake in the insurer in tranches to meet the market regulator's minimum public shareholding norm, Reuters reported last year

100% FDI in Insurance: Legacy distribution remains hurdle for foreign firms

The FDI limit in the insurance sector was raised from 49 per cent to 74 per cent in 2021

Maritime call for Atmanirbharta: Why India needs a local P&I Club

A P&I Club is a mutual insurance association that protects shipowners, operators from third-party liabilities - covering risks such as oil spills, cargo damage, pollution, collisions, and crew injury

RBI urges cost cuts; PFC–Sidbi scrap bond issues; insurance premiums surge in November & more

RBI Governor Sanjay Malhotra has urged bank CEOs to reduce intermediation costs and improve operational efficiency, citing the 125-bps rate cuts since February.

Sahaj Insurance gets Irdai licence, targets 100 mn rural policies in 1st yr

Sahaj Insurance Services Pvt Ltd, which recently received a corporate agency licence from IRDAI, aims to sell about 10 crore insurance policies designed to suit the rural population. Sahaj Insurance Services Pvt Ltd, a subsidiary of Sahaj Retail Ltd, operates a network of about 4.5 lakh digitally enabled rural centres serving over 70 crore people. In a statement, the Kanoria Foundation company said the new vertical is designed to make insurance, long characterised by low awareness and limited access in rural regions, simple, affordable and accessible at the last mile. Sahaj Centres will offer a full suite of insurance products, with trained Sahaj Mitrs facilitating customer onboarding, support and claims assistance, it said. "Customers will be able to access assisted digital enrolment, paperless processes, multi-lingual support and help with filing claims. These features are essential for first-time insurance adopters in rural markets. The services will also integrate ...

New insurance ombudsman reforms set to speed up claims, believe experts

Stronger penalties, wider access and a digital system promise clearer, faster grievance resolution for policyholders

DPDP rules lift cyber, D&O cover enquiries, but major demand yet to emerge

India's DPDP Act has prompted firms to reassess cyber and D&O liability limits, lifting enquiries but not yet translating into a surge in purchases

Rich Insights from Edelweiss Life Insurance CDO

In this Manager’s Mantra session, Anup Seth, Chief Distribution Officer, Edelweiss Life Insurance provides rich insights on the insurance sector and gives valuable career guidance to the BSchoolers. >

Take cover: Check details, seek written confirmation of terrorism insurance

Terrorism coverage under term, health, and home policies varies across insurers and products, may require rider, and could come with loadings for high-risk occupations and regions

Insurance industry takes ₹10,000 crore hit each year on frauds: Report

A new BCG-Medi Assist report highlights how fraud, waste, and abuse are eroding insurer margins, inflating premiums and weakening sectoral RoE, with mid-ticket claims driving most leakages

Regulatory, customer pattern changes nudge foreign insurers' India interest

A slew of foreign insurers have already either bought stakes in existing insurance companies, or formed a new joint venture to tap the potential of the Indian insurance market

Claim rejected? Here's how to file a complaint on Irdai's Bima Bharosa

Irdai's Bima Bharosa portal offers policyholders a simple, transparent way to resolve insurance complaints online