Page 75 - Insurance
Declined risk pool could be on its way out
The size of the declined risk pool has shrunk from Rs 5,000 cr when the TP motor pool was there to about Rs 350-400 cr
 "Declined risk pool could be on its way out")
Insurance sector almost compliant with norms: Players
Simplification of policy terminology will require some more work; Irda turns focus to customer services
 "Insurance sector almost compliant with norms: Players")
Irda sets up panel to study FDI in insurance intermediaries & TPA
Various stakeholders request the regulator to consider foreign holding in insurance brokers from existing 26% to 100%
 "Irda sets up panel to study FDI in insurance intermediaries & TPA")
Reliance Life to launch nine new products by Jan-end
Products largely focus on traditional insurance plans with a view to promoting protection and long-term savings across the country
 "Reliance Life to launch nine new products by Jan-end")
Head-on-collision causes most claims, says ICICI Lombard
Study by ICICI Lombard and IMRB says that 19% bikers do not keep insurance papers
 "Head-on-collision causes most claims, says ICICI Lombard")
Insurers permitted to invest in equity ETFs of mutual funds
Equity ETFs are funds whose unit price is derived from basket of underlying equity shares
Irda shifts focus to distribution
To host maiden brainstorming session to improve the various channels of sale
'Low penalty amount biggest reason for traffic rules violation'
Bengaluru recorded highest accident claims; Ahmedabad leads for two wheeler claims
 "'Low penalty amount biggest reason for traffic rules violation'")
Irda forms committee on customer services
To act as advisor to regulator on servicing issues
Irda chief favours single policy for low income groups
Specific circumstances of low income groups like unstable income, migration for work and others should be considered, he said
LIC's total investments touch Rs 14.8-lakh crore
India's largest insurer to invest Rs 2.25-lakh crore in FY14
 "LIC's total investments touch Rs 14.8-lakh crore")
Shriram Life launches 7 products
Out of the seven plans, four products are market-linked and the remaining are traditional products
Sharda is Future Generali Life's new MD, CEO
Future Generali India Life is a joint venture between Future Group, Generali, a global insurance group and IITL, a Non Banking Financial Company
Preferred Provider Organisation for health insurance to expand in 2014
Insurers feel unique identity numbers for hospitals will help expand the network
LIC's premiums could be cheaper under new norms
However, it might continue to charge more than private sector players, especially for online term plans
 "LIC's premiums could be cheaper under new norms")
Shriram Life expects 5% growth
Over 90% life products sold by company are in traditional segment
 "Shriram Life expects 5% growth")
 "An uninsuring trend")
RBI to soon issue norms on banks acting as insurance brokers
The new guidelines seek to allow banks to act as a broker permitting them to sell insurance policies of different insurance companies
 "RBI to soon issue norms on banks acting as insurance brokers")
Reliance Gen Insurance, Royal Sundaram lost market share in FY13
They were the only two private sector general insurance companies that witnessed decline in market share during 2012-13
Luxury cars segment profitable despite more claims
India has one of the world's largest high networth population, which is pushing demand up for luxury cars
 "Luxury cars segment profitable despite more claims")
