Page 86 - Insurance

Need to wait and watch, if banks want to become brokers: Insurers

New Irda norms may not necessarily bring open architecture of bancassurance; RBI approval crucial

Banks can be insurance brokers subject to RBI approval: Irda

The licence, once granted, will be valid for three years

Renewal premium touches Rs 1.79 lakh crore in March'13: Life Insurance Council

Indian life insurance industry, has around 36 crore in-force policies, with more than 72% branches in rural and semi-urban geography

U'khand disaster: Life insurers receive claims of Rs 100 cr

General insurance companies receive claims of Rs 1,500 crore

No added charges for ECS payment: Irda

ECS is an electronic mode of payment receipt for transactions that are repetitive, periodic in nature

Miscellaneous insurance sees customer demand

With packaged policies being developed, more customers were eager to buy these plans

Bharti AXA Life launches secure income plan

At end of term, policy holder starts receiving tax-free guaranteed income until maturity

Project insurance sees lower uptick

With a lull in industrial production, the number of new projects coming up has also seen a drop

Standard proposal form implementation delayed to April 1

Irda has deferred implementation, taking into account representations of life insurance industry

Common in-house TPA to be operational by April

This TPA will look into health claims, would handle majority of claims received by public general insurers

LIC set to function at full strength of 4 MDs

Two new MDs to be appointed in one month; Usha Sangwan may become first female MD

SBI General Insurance books premium of Rs 271 crore in Q1

SBI General has planned to further expand its footprint across SBI and its associate banks

Paperless insurance coming soon for all

New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch

Life insurers see 1.2% dip in new premiums

Life Insurers collected new premiums of Rs 19,216.18 cr for three-month ended June

No transfer of corporate agent licence within one year: Irda

These norms will be implemented with immediate effect

DLF to exit life insurance JV

Sell its 74% equity stake in DLF Pramerica Life Insurance to Dewan Housing Finance

Irda proposes to tighten norms for web aggregators

Regulator say each aggregator would be paid a flat fee not exceeding Rs 50,000 per year for displaying a product in the comparison charts of its website

Deposits charged by hospitals in cash-less plans to see a decline

New health norms with list of exclusions in policy to resolve the issue

Irda levies penalty of Rs 10 lakh on Max Life Insurance

The company paid more commissions than was permitted under existing norms to Barclays Investments and Loans (India) in two financial years

Natural calamity in Uttarakhand: Insurers peg losses up to Rs 3,000 cr

The industry has started making preparations to deal with the claim-settlement process