Page 35 - Insurance

Kotak Life launches Premier Life Plan

Customers can choose from either the cash payout or paid-up additions option

Wait gets longer for a natural catastrophe pool

There was also a proposal earlier to have two different pools, one for below poverty line and one for above, but that has now been scrapped

Odd-even rule in Delhi could lead to lower motor premium

Insurers foresee less risks as vehicles are plying only for half the number of days, making a case for lower premiums

Insurance firms launch consumer awareness drive

Social media also plays a crucial role in awareness, since smart-phones have made access to internet more convenient

Insurance sales to see reforms in 2016

One of the solutions has come up in the form of simple over-the-counter products, which could be sold in rural as well as urban areas

LIC to launch Jeevan Labh on January 4

The Plan is available from ages 8-59 and a choice of policy term of 16 years, 21 years, 25 years

IRDAI asks insurers to report ownership structure by Jan 18

Insurers say they are working on the same and will be able to comply with the IRDAI demand within the deadline

Telangana starts recognition of e-motor insurance policies

The state's Information Technology Minister K T Rama Rao formally launched the initiative

Odisha notifies six crops for agri insurance during Rabi season

The crops to be insured are paddy, groundnut, mustard , potato, black gram and green gram

Real test of Indian management control in insurance awaits in 2016

There are fears that foreigners could be appointed to top posts in Indian insurance companies

Proposal for sub-broking model in insurance shelved

Conflict with existing channels, lobby against model by some insurers seen as reasons behind the move

Insurance FDI cap hike sees inflow in JVs; $1bn likely in 2016

Companies including AXA, Bupa, Nippon Life Insurance announced raising stake in their respective joint venture

Foreign reinsurers worried over Irdai proposal

Regulator had mooted first preference to India reinsurers in premium ceding

Standard Life gets FIPB nod to raise stake in HDFC Life to 35%

The foreign insurer will pay Rs 1,705 cr for the additional 9% stake, valuing the company at Rs 18,951 cr

FIPB clears 4 FDI proposals worth Rs 1,810 cr

The proposal of HDFC Standard Life would alone entail foreign investment of Rs 1,700 cr

IRDAI proposes changes in trade credit insurance norms

IRDAI said it proposes to allow issuance of trade credit insurance policy to RBI registered entities

Finance: Natural catastrophe losses haunt insurers

With Uttarakhand floods, cyclones HudHud and Phailin and Tamil Nadu floods occurring in the 2013-15 period, insured losses have almost touched Rs 15,000 cr

Life insurers may face restriction on opening new offices if expenses of management exceeded

Irdai said that non-compliance will also lead to restriction on opening of new places of business

Enrolment in Jan Suraksha scheme touches 123 mn

SBI has the highest share with 22.2 million enrolments, followed by PNB with 8.7 million enrolments

Take cues from Chennai floods to become a more insured society, says Jaitely

Says assistance can only be a temporary and transient measure