Page 7 - Insurers

Insurance giant LIC to have five working days starting from May 10

Saturdays have been declared as a holiday for the insurer.

Covid-19: Centre requests states to vaccinate bankers, insurers on priority

The central government has written to all the state governments and union territories (UT) requesting them to have special arrangements to vaccinate bankers and insurers

Non-life insurers' premiums up 5% in FY21 on huge contraction in motor biz

In March, premiums of non-life insurers went up by 23%

Go for group life insurance cover if policy rejected, say analysts

You can opt for insurers with easier underwriting, or alternatively, a standard term

ICICI Lombard: Leadership position supersedes other issues for investors

Higher investment gains continue to compensate for underwriting losses; improving product mix is positive

Covid-19 impact on claims may force insurers to review prices: Irdai exec

General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur

Insurers may soon be able to launch covers without regulator nod

In 2019, there were 439 actuaries and in a year, that number has gone up by just 19

Vidal Health Insurance buys Vipul MedCorp TPA for an undisclosed amount

In general, these admin­istrators are independent, but can also act as an entity belonging to the insurers

Irdai removes curbs on dividend payout as insurers deliver better results

But, it has advised them to take a conscious call while declaring dividends for FY21, keeping in mind their capital position, solvency margin and liquidity position

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