Page 3 - Motor Insurance

Retail health continues to shine as motor and crop insurance slide

Till January, the health insurance segment has grown 14.59 per cent to Rs 48,501 crore

Retail health driving growth, motor insurance premiums inching up

Increasing new vehicle sales and strong momentum in retail sales during the festive season supported growth.

Auto dealers can work as sales channel for motor insurance: Irdai panel

They may work as insurance intermediaries in much the same way as an insurance broker, but must solicit motor insurance business only

Premiums of non-life insurers rise 10.38% in Aug, health insurers gain most

General insurers, 25 in all, saw their premium collection go up 5.57 per cent in August 2020 to Rs 13,139.63 crore, compared to Rs 12,445.83 crore in the same period last year

A snapshot of motor insurance premium offered by various companies

Here is how the premium for Bundled policy (1year OD + 3year TP) for a new Maruti Swift LXI in Mumbai offered by various firms stacks up

Renewing motor policy on time is more cost-effective and hassle-free option

If you let it lapse and renew later, you will lose out completely on the no-claim bonus

How withdrawal of long-term motor cover will benefit the consumers

Older policies of three and five years will continue till expiry

Motor segment drives the fall in premiums for non-life insurers

Retail health has shown a growth of 25% due to covid

Covid-19 impact: Motor, health segments see decline in March premiums

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

Motor, health segments see substantial fall in March for non-life insurers

Motor segment saw a 7 per cent decline in premiums, while health registered an 11 per cent decline in premiums

Link motor third-party obligation to number of uninsured vehicles: Irdai

Currently, the motor third party obligation is based on the amount of premiums an insurer collects on any given year out of motor third party business.

Lockdown 2.0: Govt extends renewal of health, motor policies till May 15

If the renewal of motor third party and health policy falls due between March 25 and May 3, the lockdown period, then policyholders can make the renewal payment on or before May 15

Top headlines: Govt to release GST dues, tea exports to fall, and more

Business Standard brings you top headlines of the day

Insurers see rise in health claims; lockdown reduces motor segment demands

Fewer claims are supposed to improve the insurers' loss ratio in the motor segment, but the industry is divided on this

Hike in third-party motor insurance premiums not enough, say experts

With auto industry struggling, non-life insurance firms seeing muted growth

Irdai proposes to make calculation of motor cover simpler, more transparent

Customers will not have to buy add-ons like invoice cover in the new regime

Insurance companies report boom in business after new, strict traffic rules

Insurance companies expect the new regulations to bridge the gap between insured and un-insured vehicles significantly

Sitharaman's sops likely to spur motor insurance companies' growth

The enhanced depreciation is expected to motivate vehicle makers

Slowdown in auto industry casts shadow on motor insurance segment

In FY19, the motor insurance segment saw 9 per cent growth, with premium collection at Rs 64,000 crore against Rs 59,000 crore in FY18

Hike in third party motor premiums will only cover inflation cost: Insurers

The insurance regulator has proposed a hike in the third party insurance premium of cars, two wheelers, and transport vehicles