Page 87 - Insurance

Insurers turn attention to high net worth customers

Offer customised products and services for this segment

Insurers hope for House clearance

The insurance amendment Bill, pending before Parliament for nod, proposes an increase in insurance FDI from 26% to 49%

Need based analysis norm faces flak from insurers

The companies, however, have made representation before regulator to make amendments to this provision

Insurance companies might push more of non-participating products

In non-participating policies, policyholders are not so entitled

IRDA allows insurers to earn extra yield on equities via SLB

Under the SLB scheme, those having securities can lend their securities for consideration and those requiring securities can borrow the same

Maternity cover to get costlier

With Irda mandating broader & longer definitions on ambit, insurers say a 20-25% rise in policy cost is inevitable

ICICI Prudential relaxes claims process for U'khand victims

Will accept list issued by hospitals/ police/ armed forces in case a death certificate from municipal authorities not available

Maternity cover may see rise in premium

Irda says maternity expenses shall include medical treatment expenses traceable to childbirth

Life insurers' new premiums fall 4%

Life insurance companies had begun new financial year with a marginal rise in new business premiums

Reliance Life new premium growth doubles in Q1

Total premium grew by 12% to Rs 914 crore in first quarter, as against Rs 815 crore in same period last year

Non-par products to flood market, post new product rule

Insurers said there are very few design options under new structure, for participating products

General insurers seek common cap for expenses, commissions

Industry experts added the exiting commission structure and cap are based on the Insurance Act, 1938, and Insurance Rules, 1939

Single-premium insurance products to see tougher times ahead

To push long-term premium products, the Insurance Regulatory and Development Authority had last year advised insurers to go slow on single-premium products

Single premium products to see tougher times ahead

Under single premiums products, premium is paid as a lump-sum amount; in non-single premiums product, premium paid at regular intervals

Irda asked to hold draft law on making bankers agents

Financial services dept wants wider consultation with stakeholders

Final bancassurance guidelines by next month: Irda

According to the existing regulations, a bank can only tie up with one life, one non-life and one health insurance company

'Allow banks to have pacts with up to five insurers'

Insurance firms want bancassurance guidelines be revised

Green shoots emerge under Vijayan's watchful eyes

With T S Vijayan completing 100 days in office as Irda chairman, insurance industry officials are hopeful of a turnaround in the sector by the end of FY14

AirAsia Group to enter insurance business

Tony Fernandes looking at leveraging Tata Group's retail base to expand its sales operations in country

Centre to seek Parliament's nod for insurance liberalisation

The Bill needs assent of 272 MPs in Lok Sabha, of which 204 belong to Congress and 100 other MPs have assured support, increasing chances for its passage