Page 60 - Insurance
Moody's withdraws LIC's rating, cites own business reasons
The withdrawal, however, does not reflect the creditworthiness or quality of management of the insurer
 "Moody's withdraws LIC's rating, cites own business reasons")
 "Life insurers oppose Sec 45")
Irda looking to allow insurers to deal with equity derivatives
The insurance regulator has already allowed insurers to deal in rupee interest rate derivatives
 "Irda looking to allow insurers to deal with equity derivatives")
More features likely in domestic travel insurance
Additional features could include assistance for emergency evacuation during domestic travel, apart from covers for hand baggage
 "More features likely in domestic travel insurance")
CignaTTK Health Insurance launches global group health cover
Sum insured ranges from Rs 50 lakh to Rs 12 crore
 "CignaTTK Health Insurance launches global group health cover")
Merger and acquisition activity gathers momentum in insurance
Over the past 18 months, there have been at least six instances of stakeholders in insurance ventures expressing their desire to exit
 "Merger and acquisition activity gathers momentum in insurance")
Private insurers shift focus to regular premium products
Insurance executives said that Life Insurance Corporation of India will play a large role in this space going forward
 "Private insurers shift focus to regular premium products")
Health, motor top charts in non-life premium collection
Industry players say this is because the demand in other segments is still low
 "Health, motor top charts in non-life premium collection")
FinMin asks public sector insurers to have female employees placed near family
In August, a similar directive was given to public sector banks with respect to their female employees
United India Insurance keen to re-enter overseas markets
The company was present in Hong Kong, but had shut it down in 2002
 "United India Insurance keen to re-enter overseas markets")
Religare to stay in health insurance business
This, after it said it plans to exit its JV with AEGON
Digitisation of life insurance policies may be made mandatory soon
Customer will be able to store any number of policies in one single account in the electronic format and thereby avoid the possibility of loss of policy document
Irda to suggest changes in Insurance Bill
Wants all the latest changes that had happened in the insurance sector in terms of technology usage among other things
 "Irda to suggest changes in Insurance Bill")
Govt's investor of last resort sells in bull run
LIC leads insurers in selling shares worth Rs 17,000 cr this quarter
J&K floods to have 'minimal' impact on LIC, says its chairman
LIC has 12.7 lakh policyholders in the flood-ravaged state
 "J&K floods to have 'minimal' impact on LIC, says its chairman")
Irda imposes Rs 40 lakh fine on Aegon Religare
Fine imposed for violation of rules regarding insurance brokers regulations among others
 "Irda imposes Rs 40 lakh fine on Aegon Religare")
Non-life insurance space to have innovative products soon
Insurers indicated that product meant for specific risk profiles after assessing the individual customers would also be launched
Canara HSBC OBC Life to focus on bank partners
Hiring insurance agents not on their mind
 "Canara HSBC OBC Life to focus on bank partners")
Insurance regulator diktat on J&K flood cover claims
This exemption is valid for a period of two months from the date of this order
Canara HSBC OBC Life launches CHOICeNET
Company has already implemented several online facilities within its customer portal for net-savvy customers of all three banks
