Page 55 - Insurance
IRDA evaluating fresh norms for banks as insurance agents
This follows RBI's decision last week to allow banks to act as brokers for insurers
 "IRDA evaluating fresh norms for banks as insurance agents")
JLT plans to make India insurance hub
JLT Independent marks Jardine Lloyd Thompson Group's direct presence in India through a JV with Sunidhi Group
 "JLT plans to make India insurance hub")
Banks reluctant to become insurance brokers
May not enter broking unless forced since risks are high, say experts
 "Banks reluctant to become insurance brokers")
Life insurance policy holders may get 15% cut in premiums
The objective of creating an insurance repository is to provide customers the facility to keep policies in electronic format
Private insurers welcome RBI's move to ease interest rates
This rate cut complements fiscal policy steps already being taken by the govt to boost growth, says Future Generali
 "Private insurers welcome RBI's move to ease interest rates")
Irda to revise agents' commission norms
Industry officials want a balance between the first-year and second-year commissions
 "Irda to revise agents' commission norms")
Pournima Gupte takes charge as member-actuary at IRDAI
Prior to this, Gupte was the chief actuary at IDBI Federal Life Insurance
Insurance agent commission norms to be revisited
New propsal sent to IRDA says there should be a balance between the first year and second year commissions
Investment income boosts general insurers bottomline in FY14
Total net profit of non-life insurers stood at Rs 4,439 crore in 2013-14
 "Investment income boosts general insurers bottomline in FY14")
Motor insurance business to remain flat over excise duty increase
Car prices soar with withdrawal of levy concession in Dec, premium collection likely to be hit
 "Motor insurance business to remain flat over excise duty increase")
More agents join force to sell insurance
Regulator raises concern about high attrition rate despite net increase in number by 3.1%
 "More agents join force to sell insurance")
IRDA proposes increasing terror risk insurance pool
The Authority is likely to increase the Indian Market Terrorism Risk Insurance Pool due to changing circumstances
Insurance agent numbers see first growth in three years
The year 2013-14 witnessed 3.1% growth in number of individual agents, says IRDAI Annual Report
 "Insurance agent numbers see first growth in three years")
Aegon Religare expects good growth this fiscal
With the launch of two new online products the company will have a total of four product offerings for the on-line market
 "Aegon Religare expects good growth this fiscal")
LIC still tops industry in claim settlement, says IRDAI Annual Report
The claim settlement ratio of LIC was better than that of the private life insurers
 "LIC still tops industry in claim settlement, says IRDAI Annual Report")
FDI hike would benefit Indian private non-life insurers: Moody's
Says increased foreign investment will alleviate the current capital pressure on non-life insurers
It's raining online life insurance products this year
Insurers offer a plethora of products as people hurry to buy investments in the last three months of the financial year
 "It's raining online life insurance products this year")
Budget's swadeshi diktat puts insurers in a cleft
Many insurance companies that have foreigners in top team may see management rejig
Norms tightened for appointment of agents by insurers
Newly promulgated Ordinance has prohibited multi- layered agent structure for sale of insurance products
 "Norms tightened for appointment of agents by insurers")
India Infoline Insurance Brokers uses video-calling to reduce mis-selling
In FY13, 341,012 life insurance complaints were registered
