Page 39 - Insurance
Irdai directive fuels concern among insurers
Insurance regulator says no claims could be rejected after three years
 "Irdai directive fuels concern among insurers")
Nippon to acquire 23% stake in Reliance Life for Rs 2,500 cr
With this, Nippon's stake will rise to 49%, which is the upper limit for a foreign player in a private insurance firm
 "Nippon to acquire 23% stake in Reliance Life for Rs 2,500 cr")
General insurers' H1 premium up 12.3%, may miss annual target
Motor and health, which have been traditionally driving the growth, have shown progress in the second half
LIC in talks with state-run banks for Nomura stake sale
More clarity on the issue is likely to come after the LIC board meeting scheduled for October 28
 "LIC in talks with state-run banks for Nomura stake sale")
Insurance firms back to drawing board to redraft JV agreements
Irdai gives three months to comply with new rules
 "Guidelines in FDI for insurance firms issued")
National health insurance plan to continue till December
The scheme may be further extended till March 31, 2016
 "National health insurance plan to continue till December")
Policyholders get regulator nod for disputing claim
Recently the IRDAI has said that the execution vouchers does not foreclose the rights of policy holder
 "Policyholders get regulator nod for disputing claim")
Liability insurance takes shape via tailor-made products
Insurers say liability covers form only 10-12% of their overall portfolio, but the number is growing with exposure
Insurers, reinsurers may not get tax incentives in GIFT City
International Financial Service Centre will allow insurers and reinsurers to offer foreign currency policies from India
 "Insurers, reinsurers may not get tax incentives in GIFT City")
Pay minimum annuity of Rs 1,000 monthly: IRDAI to insurers
It also said gross sum cannot be less than Rs 5,000, except under Micro Insurance and Health Insurance Business
Jan Suraksha schemes get 117 mn enrolments
Scheme website shows public sector banks sold largest number
 "Jan Suraksha schemes get 117 mn enrolments")
Insurers, MFs raise investing duration
Anticipation of further fall in bond yields and more accommodation by RBI
 "Insurers, MFs raise investing duration")
General insurers crackdown on claim exaggerations
Hospitals and insurance companies tie-up with each other so that the former is included in the network of insurance company
Telenor offers free life insurance to subscribers
By spending on regular recharges with small incremental value, the customers will get insurance upto Rs 50,000
 "Telenor offers free life insurance to subscribers")
Six insurance cos evince interest to raise FDI cap to 49%
A committee on health insurance is looking into the issue and expected to submit its report soon, says IRDAI Chairman
 "Six insurance cos evince interest to raise FDI cap to 49%")
Bajaj Allianz Life, Dhanlaxmi Bank partner for insurance sales
The bank will continue to be a corporate agent for nine years and sell life insurance products
 "Bajaj Allianz Life, Dhanlaxmi Bank partner for insurance sales")
Greater disclosures, segment-wise reporting on the anvil for insurance sector
On general insurance side, this would lead to greater curbs on discounting practices in areas like fire and group health insurance
 "Greater disclosures, segment-wise reporting on the anvil for insurance sector")
Insurance Regulator may allow long term products in health
Long-term products proves a hit in two-wheeler insurance
Risk-based capital to assess solvency: Irdai
The committee, however, says adopting this will take time as it will have to be discussed with insurance sector stakeholders
