Page 34 - Insurance

Opposition protests in Rajya Sabha bill to hike FDI in insurance to 74%

The Upper House witnessed four adjournments in the afternoon sitting

Remote working to push demand for cyber insurance: IRDAI official

Insurers are confronting a new reality in the COVID-19 situation as a long- term disruption to the customers, employees, investors and suppliers

Insurance firms told not to alter health products to raise premium

Insurance companies can carry out minor modifications in their products, said Insurance Regulatory and Development Authority of India (IRDAI)

Cabinet approves amendment to Insurance Act, paving way for 74% FDI limit

The increase of the FDI limit will provide insurance companies with committed funds to improve the penetration of insurance in the country, says an industry executive

We should have 1,000-1,200 actuaries at the earliest: Irdai chairman

Currently, India has only 458 full-fledged actuaries. In 2019, there were 439 actuaries and in a year, that number has gone up by just 19

Open to exploring opportunities for strategic collaboration: HDFC Life CEO

Vibha Padalkar says the insurer has witnessed a 65% reduction in customer complaints over the last 5 years

Irdai asks insurers to bring standard accident cover from Apr

The insurance regulator has asked general and health insurance providers to provide standard personal accident cover products

Bajaj Allianz Life launches post-retirement fund guarantee plan

Bajaj Allianz Life Insurance on Wednesday launched an insurance plan offering a guaranteed regular deferred annuity during post-retirement life

ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit

Flipkart has partnered with ICICI Lombard to offer 'Group SafeGuard' insurance, a group insurance policy to its consumers

ICICI Lombard sets up index to track risk exposure in sectors, companies

Indian companies have a score of 57, indicating optimised risk handling methods, says the index

Irdai Working Group bats for introduction of index-linked insurance plans

With investment markets turning volatile, customers are preferring guaranteed products. This, in turn, has increased the balance sheet risk for insurers

Irdai panel suggests introduction of index-linked insurance products

An Irdai panel has made a case for the introduction of index-linked insurance products (ILIP) an apt alternative to the current conventional guaranteed products and ULIPs

IRDAI proposes extension of regulatory sandbox guidelines by 2 years

Insurance regulator IRDAI on Tuesday proposed to extend the validity of regulatory sandbox guidelines by two years as the proposals received under it require more time for completion.

Bajaj Allianz Life AUM grows 79% in 10 years to cross Rs 70,000 cr

The private sector life insurer said its assets under management have crossed the Rs 70,000-crore milestone by the end of December

MassMutual to set up Rs 1,000 crore global facility in Hyderabad

US-based insurance major MassMutual will be setting up its global capability centre in Hyderabad with an initial investment of Rs 1,000 crore

Insured's dilemma: Should you flout safety norms to get the claim?

A false declaration by the insured could compromise the safety of the buyers to whom the vehicles are sold

Irdai wants fuel pumps and cooking gas agencies to sell insurance

The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent

Hiring activity registers 14% sequential growth in December: Report

The improvement was mainly led by insurance, auto and ancillary sectors, according to a report

Actual freight and insurance should be declared on shipping bills: Expert

Any mis-declaration of freight paid or payable which results in loss of revenue by way of excess drawback payment, is liable to be proceeded against under the Customs Act

Insurers are going digital, but their systems are far from robust

Many companies are using the building blocks in which they have invested to expand their digital offerings instead of taking the bold gambit of installing a new operating system