Page 24 - Insurance

Motor insurance to have more touch-points

IRDAI may relax of norms to enable distribution of simple policies such as Third Party through agencies such as Pollution Check Centres

Irdai directs insurers not to delay claim payments

Irdai said the provision was being made to protect the interests of policyholders as well as keeping in view the legal principles

Edelweiss Financial Services to enter general insurance

Edelweiss General Insurance will be EFS' wholly-owned subsidiary

Insurance proposed for drivers' treatment cost

At present, third-party motor insurance is mandatory

Exide Life launches term plans with return of premium

The company is discontinuing its existing regular term plan and replacing it with the ROP as there is more demand for ROP plans

Magma Fincorp appoints Rajive Kumaraswami as new MD & CEO of Magma HDI

He was previously with SCOR Re for four years

Reinsurance pie in life policies to get bigger

Currently, the reinsurance market is Rs 18,000 crore in India, of which life insurance only contributes Rs 1,200 crore-1,300 crore

FinMin to issue Cabinet note on listing of PSU insurers

Final shape is being given to various issues including quantum of stake dilution, sources added

Irdai asks insurance cos details of social sector biz

Life insurers have to file number of lives covered under social sector in reporting financial year

New FDI rules: Liberty Videocon Gen Insurance to get Rs 310 cr

The joint venture is between India's Videocon Industries and Liberty Citystate Holdings Pte, part of the US-headquartered Liberty Mutual Insurance Group

Tie-up with repositories for e-insurance optional

E-insurance would become mandatory for annual premiums equal to or above Rs 10,000

Life insurers see 14% growth in ticket size

Average ticket size rises to Rs 17,952 in April-May period of this fiscal against Rs 15,774 in the same period last fiscal

RGA looks to capture life insurance reinsurance market in India

It received the R1 or initial approval to set up a branch in India yesterday

Life insurers sees 14% growth in average policy ticket size

Private life insurers had a higher average ticket size than LIC

One Touch Response to launch safety plans with PolicyBazaar.com

Family Safety Plan is priced at Rs 2,999 and includes a 12 month subcription of OTR's 24X7 on-demand safety and assistance service

Insurance penetration rises to 3.4% in FY16

Global insurance premiums grew by 3.8% in real terms in 2015, amidst variations in regional growth rates

Assess resilience of reinsurers for risk concentration: RBI

Apart from this, the report also suggested offering green insurance as a cover to help in internalisation of environmental costs by the companies

ICICI Lombard's 2-wheeler policy reaches milestone

The product allows two wheeler owners to purchase a policy with a longer duration cover of two or three years

Insurance repositories may see muted business in initial phases of digitisation

This is because insurers aren't required to tie-up with them to issue e-policies

ERGO to hike stake in HDFC ERGO to 48.74%

Pays Rs 1,122 cr for stake valuing company at Rs 4,900 crore