Page 45 - Insurance

HDFC Life eyes 15% growth in new business premium

Company banks on two recently launched products; collects Rs 3,310 cr new business premium in 2014-15 with 10% growth

SBI, PNB lead Jan Suraksha enrolments to 104 mn

Banks including PNB had tied-up with LIC in life and public general insurers for accident cover

Insurance fraud: Rising problem in non-life segment

Firms now employing specalists in probe teams, creating 'red flags' in motor & health insurance, tracking social media for activity of suspicious claimants

Life insurers to have representative body without Irdai members

The council will have four members including one permanent member from LIC

General insurers crack the whip on claim fraudsters

Create red flags for motor, health insurance to nab culprits, track social media to observe activity of suspicious claimants

Irdai plans to standardise health products

The health insurance industry has generated Rs 20,442 crore in premium business in fiscal 2015

Real effects of Insurance Act still to come, say life insurers

Companies say regulations by IRDAI would shape future fate

Agri-insurance coverage needs to expand, says FSR report

The report says only 4% of farmers reported having crop insurance and only 19% of the farmers ever used any crop insurance

Insurance penetration at 10-year low

India's insurance penetration fell to 3.3% in FY15 compared to 3.9% in FY14, says global reinsurer Swiss Re

Promoters may change structure for insurance subsidiaries

According to these rules, foreign equity investment cap of 49% is applicable to all Indian insurance companies

Co-payment in health insurance only after netting hospital discounts, says IRDAI

The insurers and the TPAs have been asked by the regulator to mandate the hospitals to reflect such agreed discounts in the final hospitalisation bill of each claim

Greener pastures ahead for insurance business; LIC bounces back

General insurers expand teams for SME insurance

Industry officials expect the business to form 20-25% of their overall portfolio

Irdai asks TPAs to keep out of settling claims, soliciting biz

Officials in the sector said several TPA services were terminated by companies after discovering fraudulent practices

New India Assurance settles 4,443 claims after J&K floods

In the case of Cyclone Hudhud, 882 claims have been fully settled with payment of Rs 70 crore

Irdai moots radical changes in health insurance

Says there could be higher solvency requirement for group health segment

Majority Indians don't have home insurance despite risk awareness: survey

Bajaj Allianz asked around 1,200 people from metros across the country as part of the survey

V R Iyer takes charge as member-finance and investment at IRDAI

Iyer was CMD of Bank of India and succeeds R K Nair at insurance regulator

Product liability, recall covers may see rise in claims

Commercial liability policy for products and premises covers all costs that includes defence costs

LIC improves its performance, still loses market share in April

The corporation collected Rs 3,582 crore premium in April, 2015