Page 31 - Insurance

LIC remains white knight in disinvestments

The state-owned insurer's stake has increased by 3.9 percentage points to 12.98% in NTPC

Motor claims still on higher side

Overall, the net incurred claims of non-life insurers stood at Rs 55,232 crore in 2014-15 against Rs 49,179 crore in 2013-14

Rail Budget 2016: Optional travel insurance may offer personal accident cover, theft cover

In the cover that will be offered, it is anticipated that personal accident will be a big element

Low awareness among employees about health cover benefit: survey

Only 19% know of all benefits in a group health plan; only 8% find sum assured adequate

E-policies made compulsory for most categories

In some cases, like motor insurance, the government needs to first recognise these

Budget may unveil health insurance scheme for elderly

About Rs 10,000 cr unused funds would be utilised for providing health insurance cover to the elderly

Insurers can speed up products for corporate clients

This is on the back of IRDAI decision to help general insurers to sell products under use-and-file procedures

PE fund KKR takes a 9.95% stake in Max Financial Services

Buys shares of the newly demerged entity from promoter Analjit Singh

Irdai on use-and-file products

Use-and-file is a procedure where the insurer is permitted to market the product without prior noting of IRDAI

Corporate agents may enter into new tie-ups in FY17 with IRDAI nudge

IRDAI has asked banks, corporate agents to have board-approved policy on open architecture

Product wording de-tariffing demand on back burner

With heavy discounts affecting fire and group health, freeing wordings may only worsen situation, say industry officials

New premiums up 15.5% for life insurers in April-January period

Top insurer LIC posts 15% growth during this period, collects Rs 66,336 cr as new business premium

More young professionals have lifestyle disorders, inadequate health cover

Chronic body pain, obesity on the rise among professionals aged 23-35; many of them depend only on employer-provided cover

Domestic re-insurers to get preference: Irdai

The re-insurance industry is worth Rs 18,000 crore in India of which life insurance constitutes about Rs 1,200 crore

Irdai pushes for better governance of insurance firms

The regulator, in its guidelines, has put additional responsibility on firms to ensure sound governance is practiced

Four insurance marketing firms get licence

Firms will solicit, procure insurance products; no entity among them to sell other financial products

Point-of-sale persons may lower insurers' cost

IRDAI has said PSP can sell motor, personal accident, travel and home insurance policies

IRDAI puts higher responsibilities on insurer's boards

Guidelines seek to ensure structure, responsibilities and functions of company and that it recognises expectations of all stakeholders

IRDAI makes e-format must for Rs 10 lakh-plus life policies

Individual health policies of Rs 5 lakh and above, or annual premium of Rs 5,000 and above must also be offered in e-format

Debt funds, balanced funds may become popular in Ulips as markets turn topsy-turvy

Insurance sector officials said that while customers are less apprehensive about short term volatility, some fund switches could be made