The Insurance Regulatory &amp; Development Authority (Irda) is planning to cap the charges on universal life policies, or ULPs. These have almost replaced unit-linked insurance plans (Ulips) in terms of new business.

Irda norms could cap charges on ULPs

Business Standard

More and more insurance companies are introducing solutions for motor policyholders. Since the Insurance Regulatory and Development Authority forbids any change in the basic product &mdash; the motor insurance policy &mdash; insurance companies are innovating with add-ons that provide cover for various other contingencies.

Insurers lure you to drive through extra cover

Family floaters are good for young families.

Sole benefits, family deficits

L&amp;T General Insurance Company Limited, a fully owned subsidiary of engineering construction major Larsen and Toubro (L&amp;T), has set a premium collection target of Rs 1000 crore over the next five years.

L&T Insurance targets Rs 1000 cr premium in 5 yrs

Life insurance companies may be allowed to take over banks&rsquo; long-term infrastructure loans. However, their exposure will be restricted to public sector projects backed by sovereign guarantee.

Insurers can take over loans of only govt-guaranteed projects

I have heard insurers are launching new, improved unit-linked insurance plans (Ulips), in terms of lower charges. I own two Ulips, one two years old and the other six.

Life Insurance: Kamesh Goyal

Employed individuals are default beneficiaries of group insurance policies bought by a company on behalf of the employees. While these are convenient for individuals who want to avoid the hassle of buying an insurance cover themselves, these may not be enough to solely depend on for medical emergencies. In fact, these may often play spoilsport in your planning.

Take add-ons with group insurance plans

Public sector Oriental Insurance Company may have to cough up around Rs 5 crore under the Directors&rsquo; and Officers&rsquo; (D&amp;O) liability policy following a claim by expelled Commonwealth Games (CWG) official M Jayachandran.

Oriental may take a hit on expelled CWG official's claim

Life insurance companies have asked the Insurance Regulatory and Development Authority (Irda) not to cap charges on universal life policies (ULPs). &ldquo;The regulator should wait for three-four months to see how unit-linked insurance plans&rsquo; (Ulips&rsquo;) sales have picked up before taking any call on ULPs. In a free market, prices should be determined by the market,&rdquo; said Sunil Kakar, chief financial officer of Max New York Life.

Life insurers ask Irda not to cap charges on ULPs

The term of my life insurance policy is over, but I have misplaced my policy bond.

Life Insurance: Deepak Sood

New business income growth slows to 20 per cent in September.

New Ulip norms slow life insurance business

Sales have been suspended until the final guidelines for ULPs are issued. Irda said it had received several complaints on the sale practices of the insurers regarding ULP.

Irda suspends universal policies

Riding on robust auto sales and retail health insurance, non-life insurance companies have witnessed 22.93 per cent growth in gross premium income during the first half of the financial year.

Non-life insurers grow 23% in first half

Regulator not in favour of insurance firms dabbling in commodities.

Insurers seek to invest in gold, fund of funds

I have taken individual health insurance covers for my wife, my son and I. Last year, my wife was hospitalised twice, and we could not get the second claim as the cover was already used. I have read about family-floater schemes.

General Insurance: Ajay Bimbhet

American International Group (AIG) Inc&rsquo;s planned $2.15 billion sale of its Taiwan life insurance unit was blocked by local regulators, setting back the US insurer&rsquo;s effort to repay its $182.3 billion government bailout.

Regultors reject AIG's sale of Taiwan unit

Public sector insurance giant Life Insurance Corporation (LIC) is growing by almost 125 per cent in Uttar Pradesh and Uttarakhand in the current finacial year.

LIC growing by 125% in UP, Uttarakhand

The Visakhapatnam division of Life Insurance Corporation of India (LIC) is expecting a 15 per cent growth in first premium collection this financial year.

LIC sees 15% premium growth in Vizag division

India&rsquo;s insurance industry is set for a makeover as it seeks to survive and grow in a changed environment that dawned on September 1. With a three-month spat over who will regulate unit-linked insurance plans (Ulips) settled, the Insurance Regulatory &amp; Development Authority (Irda) in July announced sweeping changes to the way insurance companies do business.

Insurance industry reinvents itself under new regime

I met with an accident a year ago. My car, which was valued at Rs 2.12 lakh, was repaired for Rs 3.5 lakh, qualifying as a total loss. I had an outstanding loan of Rs 1.8 lakh, which the insurer and the bank were to settle between them and return me the remaining amount. The insurance company took a year before asking me to leave the car at its Vashi office and settle the claim. The car servicing station levied a parking fee of Rs 200 a day for the last one year before allowing me to take the car. Now, neither the car company nor the insurer is willing to bear this charge.

General insurance: Ajay Bimbhet

Helps save premium but maturity benefits lower than individual policies.

Page 110 - Insurance