Page 82 - Insurance
Future Generali launches Future Generali Pearls Guarantee
After premium payment term, at end of every year till maturity, 10% of sum assured paid to customer as money back
Health Insurance TPA of India formed, for govt-owned general insurers
This company which was incorporated on August 14, 2013, as per information available from Ministry of Corporate Affairs, recently held its first board meeting
 "Health Insurance TPA of India formed, for govt-owned general insurers")
Irda expands 'key persons' definition
The regulator has expanded the definition of 'key persons' to include the posts of 'compliance officer' and 'chief risk officer' of insurance firms
 "Irda expands 'key persons' definition")
Wait for Irda member-actuary continues
R Kannan, Former Member-Actuary at Irda retired in early 2011 and the position is vacant since then
Return on premium products could become costlier
These plans may be required to offer surrender value from Jan 1, pushing prices upwards
 "Return on premium products could become costlier")
Mandatory training for agents puts pressure on insurers
Insurers say they don't mind bearing the training cost but high attrition has made the process futile
 "Mandatory training for agents puts pressure on insurers")
Life insurers bet highly on premium club
Indian insurers looking to send more agents to Million Dollar Round Table
 "Life insurers bet highly on premium club")
IRDA member actuary's appointment could be some time away
Life insurers feel delay in appointment is affecting the industry
Mandatory training of 50 hours for agents puts pressure on insurers
While there is an expenditure on these individuals, high attrition has made the process futile
 "Mandatory training of 50 hours for agents puts pressure on insurers")
Chola MS targets Rs2,000 crore business
Chola MS achieved a GWP of Rs 906 crore between the April and September 2013
 "Chola MS targets Rs2,000 crore business")
Premium collection of life insurers likely to increase
Rush for products before January 1 deadline is factor for growth
 "Premium collection of life insurers likely to increase")
Insurers turn to govt bonds as a safe bet
Insurers looking at govt bonds as these are liquid investment options
 "Insurers turn to govt bonds as a safe bet")
LIC hires 60,000 agents in mass recruitment drive
To hire 2 lakh agents as part of mass recruitment drive in this fiscal
Reducing cover a good option for senior citizens
It is a good option for those who have met their financial goals but the premiums are too high
 "Reducing cover a good option for senior citizens")
Implementation of new norms for life insurance plans extended
New guidelines are aimed at making insurance policies more customer-friendly
 "Implementation of new norms for life insurance plans extended")
Life insurers get 3 months to phase out old products
Sale of highest net asset value products, index-linked products were banned from today on the grounds these are not in the interest of customers
Liberty Videocon installs tracking devices in 1,000 cars
The device will assess driving habits of the driver, which will help insurer better price the car-insurance product
 "Liberty Videocon installs tracking devices in 1,000 cars")
LIC asks extension of deadline for meeting new guideline norms
All existing group products have to be aligned with new rules before June 30
 "LIC asks extension of deadline for meeting new guideline norms")
Shriram Capital may quit race for insurance JV stake
Shriram Capital would have had an insurance venture with large distribution network of Canara Bank and Oriental Bank of Commerce
 "Shriram Capital may quit race for insurance JV stake")
Insurers turn to govt bonds as safer investment bet
Firms shy away from corporate paper after RBI's repo rate hike, opt for govt bonds for the liquidity they offer
