Page 38 - Insurance

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

Star Health aims premium collection of Rs 10,000 cr in current fiscal

The company has close to 15 per cent of market share in the overall health insurance segment, including all general insurance players

After payments, WhatsApp to roll out insurance and pension products

The messaging service app, backed by tech giant Facebook, is working in collaboration with financial institutions on pilots of micro insurance, and micro pension products

Global litigation financiers plan India entry to target company disputes

The concept of litigation finance is widely prevalent in Australia, the United Kingdom and the United States

Choose a high-value health insurance policy for wide coverage amid Covid-19

Buy one at the earliest as underwriting norms tend to be strict in them

Majesco declares interim dividend of Rs 974 per share after sale of US arm

Majesco has also launched a Rs 631-crore share buyback programme

Allow insurance, pension funds to invest in lower-rated debt: SBI chief

Dinesh Kumar Khara says this is needed to ensure money flows into infrastructure, as is the case across the globe

Dealer can't hand over vehicle without its documents

The National Commission observed that possession of a vehicle cannot be given legally without also handing over the registration and insurance documents

Irdai to bring in standard personal accident cover, max sum assured Rs 1 cr

All general and standalone health insurers will have to offer it from April 1, 2021; hospitalisation costs up to 10% of base sum insured covered

IRDAI proposes standard personal accident insurance product from April 1

Insurance regulator IRDAI proposed a standard personal accident product with common coverage and policy wordings across the industry, a move aimed at increasing penetration of the product

Mandating insurance not the way forward to boost penetration: Irdai member

T L Alamelu says health insurers need to address trust deficit; regulator has tried to standardise areas of concern such as definitions, pre-existing diseases, among others

Contingency funds are more effective against sudden decline in income

Job loss covers have conditions attached