Page 7 - 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

Insurers face 'mind-blowingly' large loss if Tokyo Olympics cancelled

With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee's (IOC) executive board meets this week

Indian insurers to withstand pandemic-led downturn: Moody's

Indian insurance companies are likely to withstand the economic downturn exacerbated by the coronavirus pandemic, the report said

Insurers asked to adopt one aspirational district each, says IRDAI Chairman

IRDAI chairman is concerned over low level of insurance penetration in the country

Forge agreement on coronavirus treatment rates: Irdai to insurers

However, the insurers should make efforts to have agreement with health providers on rates for treatment of Covid-19 similar to other diseases

Insurance regulator keeps obligatory cession at 5% to GIC Re in FY21

The entire obligatory cession has to be reinsured with India's largest reinsurer, General Insurance Corporation of India (GIC Re)

Non-life insurers get Covid-19 claims worth Rs 10,000 crore as of Dec 11

The insurers have settled 508,334 claims amounting to over Rs 4,800 crore

Merger of insurers: Irdai releases draft norms on shareholder compensation

Says those whose rights against the acquiring insurer have been reduced, must be paid compensation based on the residual value of assets

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

Rising Covid, non-Covid claims a double whammy for general, health insurers

Insurers said while the situation had been manageable so far, going ahead, it would be a cause for concern

Insurers see over 90,000 Covid-related claims worth Rs 1,463 crore

State-wise data shows, Maharashtra, which has recorded the maximum number of cases in the country, has the maximum claims coming in, followed by Tamil Nadu, Delhi, Gujarat, and Karnataka

Irdai allows insurers to offer Arogya Sanjeevani as group insurance policy

Arogya Sanjeevani Policy, whether in individual or group form, will also cover treatment of Covid-19 disease

Corona Kavach health insurance policy evokes good response: Insurers

Corona Kavach, which was launched on July 10 and is being offered by both general and health insurers, is a standard health insurance policy created to meet the treatment requirements for coronavirus

Capital infusion in 3 state-owned insurers 'credit positive': Moody's

It further added that, the government's goal of listing the companies on the stock market will become feasible only after this

Insurers start offering standard Covid product as mandated by Irdai

As of now, the insurers have to offer the indeminity-based standard Covid cover (Corona Kavach), but later they may also offer the benefit-based product (Corona Rakshak), insurers said

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

Standard covid product to be benefit-based cover under revised IRDAI rules

The minimum sum assured for the product will be Rs 50,000 and it can go upto a maximum of Rs 5 lakh

After brushing off coronavirus concerns, insurers face double whammy

Because epidemics are excluded from many business insurance policies, the early prognosis was for a low levels of claims

Markets volatility will weigh on global insurers' profits: Moody's

An economic slowdown triggered by the outbreak will crimp business volumes for insurers and also lead to higher claims for certain types of insurance

Rewiring insurance with tech to speed up underwriting and claims process

Most of the insurance providers have mobile apps, meant to provide customers easier access to the insurer