Page 46 - Insurance

Irdai likely to ask banks to tie up with more than one insurer

In an earlier draft, banks had to cap business from one insurer to 90% in the first year and to 50% after four years

India nuclear insurance pool launched

With Rs 1,500 cr capacity and 12 firms participating, state-owned and private; operationalises key 2010 law

IRDAI wants companies to plug policy pricing loopholes

Says companies need to correct aberrations that exist in terms of adequate pricing based on scientific analysis of claims

Reliance Life Insurance hikes number of agents by 20%

Company launches child education plan for education purpose

India among the top 10 most natural disaster prone countries for insurance firms

Bajaj Allianz settled 28,000 claims and disbursed Rs 1,000 crore in a period of three-three-and-a-half months

SBI Life sales closure goes paperless, introduces 'Connect Life'

Distribution Partners from all sales channels of SBI Life can sell insurance products through this facility

HDFC Life eyes 15% growth

Company, for fiscal year ended March 31,2015, raised Rs 3,310 crore as first year premium collection

GIFT City to help India become reinsurance hub

GIFT is conceptualised as a global Financial and IT Services hub, a first of its kind in India

IRDAI to clarify on Indian promoter's FII Holdings for insurance JVs

Foreign equity investment cap of 49% is applicable to all Indian insurance companies

Cyber insurance sees growing demand among corporates

Cyber-crime zoomed 350% in the three years between 2010 to 2013

HDFC Life launches cancer care health plan

Offers a fixed lump sum benefit on diagnosis of early and major stages of cancer

LIC gets nod to operate in Bangladesh

IRDAI removes cap on business from one insurer for banks

Currently, banks are allowed to tie up as a corporate agent with one life, one non-life and one standalone health insurer

GIC Re posts 19.5% growth in net profit at Rs 2,694 cr

Gross premium income up 3.4% at Rs 15,183 crore in FY15

IRDAI says all insurance policies can be digitised

Basic facilities for policyholder would be free, premier services to be charged

IRDAI asks insurers to maintain claims, policy records in electronic format

Insurance regulator intends to support electronic maintenance of policy and claims records

Edelweiss Tokio Life Insurance files FIPB application for foreign stake hike to 49%

Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings

Irdai to get two new members

P J Joseph top contender for post of member non-life

Expert panel suggests health insurance premium raise be linked to retail inflation

The expert panel has suggested the CPI+3 formula be a cap and an insurer should be allowed to increase up to this limit

Swiss Re looks for closer collaboration on health insurance with govt, regulator

With 58% healthcare spending out of pocket in India, economic costs of bad health to go up