Page 7 - Insurance Industry

IRDAI allows insurers to sell Corona Kavach policy as group product

Each insurer can price the product according to its risk assessment, health portfolio and its claim experience.

Life insurance industry to recover in next quarter, says CARE Ratings

CARE Ratings, in a note, said growth could potentially return in Q2 or Q3 and distribution channels could see significant realignment, with digital sales rising at the cost of individual agents

Covid-19 to hurt insurance industry's new biz premium in FY21: IDBI Federal

IDBI Federal said the growth in individual new business segment among private players was higher than overall growth consecutively for past three years

SpiceJet offers coronavirus hospitalisation insurance to passengers

"Passengers can opt for the insurance cover ranging between Rs 50,000 and Rs 3,00,000 at a premium for as low as Rs 443 to Rs 1,564 a year (including GST)," the airline said.

Covid-19 brings insurance policies for directors back into mainstream

Enlightened buyers, particularly those with complex global exposures to litigious markets, are waking up and demanding sophisticated covers for their specific needs.

Future group eyes insurance biz sale to SBI General, Premji Invest

The Future group holds 51 per cent in the general insurance business, while the rest is owned by Italy's Generali group.

LIC sees rebound in business after months of slide due to Covid-19 crisis

With the spread of coronavirus and the subsequent lockdown imposed by the government, LIC saw its new business premium (NBP) fall 31 per cent year-on-year (YoY) in March

Irdai sets up panel to suggest insurance products related to use of drones

It also noted that drones are playing a significant role in the current Covid-19 situation, assisting various authorities in several activities

Planning to take a health insurance? Buy now to meet future needs

Insurers will have to approve claims after the policy is eight years old

Out-of-pocket expenses set to fall for policyholders after new Irdai rules

Now insures have to define the associate medical expenses which will be deducted proportionately if a person opts for a higher room category than the category that is eligible

Irdai asks insurers, TPAs to disclose infra details of hospitals in network

Insurers and TPAs have been asked to provide details of medical infrastructure of hospitals

Term insurance: Premium rates lower at younger age, don't change thereafter

As your liabilities increase, you will not have to augment your cover at a later date

Letter to BS: Long journey ahead for reforms in neglected agro sector

We would see the genesis of farm area cooperatives that would not only help evolve improved and scientific farm management techniques but also significantly reduce the cost of enabling inputs

Finance Ministry, LIC start contact tracing to assess Covid-19 aid

At 2.7%, life insurance penetration in India is lower than Western & Asian peers

Covid-19 impact: Motor, health segments see decline in March premiums

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

Policy change doesn't impact continuity

The apex court noted that there was continuous insurance coverage since 2007 and there was no evidence to show that the ailment was pre-existing

HDFC Life reports 17% decline in pre-tax profit to Rs 284.47 cr in Q4

Net profit also declined 14% on account of loss in investment income and higher provisions.

Quick approval, grace period: Medical insurance process eased amid Covid-19

Use instalments to increase cover; benefit from quick approvals

Investors' high expectations raise risk for stocks of general insurers

Benefits of lower claims could get offset by subdued premium collection and fixed costs

Covid-19: Life insurers to bite short-term bullet for future growth

Covid-19 is expected to result in improved awareness and importance about life insurance as a risk cover