Page 13 - Insurance
FDI in insurance may shorten break-even period by 3 years: IIM Indore study
Currently, operating and commission expenses of private insurers are said to be thrice those of public counterparts. It is here that a hike in FDI limit will give the former a level-playing field
 "FDI in insurance may shorten break-even period by 3 years: IIM Indore study")
Insurers see adverse claim ratio on Covid-specific health products
The regulator's two Covid standard products - Corona Kavach and Corona Rakshak - have covered more than 4.7 million lives
 "Insurers see adverse claim ratio on Covid-specific health products")
Insurance Amendment Bill to raise FDI limit to 74% in Lok Sabha
FM Sitharaman said on Monday that raising the FDI limit was necessary to help insurers deal with issues concerning financial stress
 "Insurance Amendment Bill to raise FDI limit to 74% in Lok Sabha")
Opposition protests in Rajya Sabha bill to hike FDI in insurance to 74%
The Upper House witnessed four adjournments in the afternoon sitting
 "Opposition protests in Rajya Sabha bill to hike FDI in insurance to 74%")
Remote working to push demand for cyber insurance: IRDAI official
Insurers are confronting a new reality in the COVID-19 situation as a long- term disruption to the customers, employees, investors and suppliers
 "Remote working to push demand for cyber insurance: IRDAI official")
Insurance firms told not to alter health products to raise premium
Insurance companies can carry out minor modifications in their products, said Insurance Regulatory and Development Authority of India (IRDAI)
 "Insurance firms told not to alter health products to raise premium")
Cabinet approves amendment to Insurance Act, paving way for 74% FDI limit
The increase of the FDI limit will provide insurance companies with committed funds to improve the penetration of insurance in the country, says an industry executive
 "Cabinet approves amendment to Insurance Act, paving way for 74% FDI limit")
We should have 1,000-1,200 actuaries at the earliest: Irdai chairman
Currently, India has only 458 full-fledged actuaries. In 2019, there were 439 actuaries and in a year, that number has gone up by just 19
 "We should have 1,000-1,200 actuaries at the earliest: Irdai chairman")
Open to exploring opportunities for strategic collaboration: HDFC Life CEO
Vibha Padalkar says the insurer has witnessed a 65% reduction in customer complaints over the last 5 years
 "Open to exploring opportunities for strategic collaboration: HDFC Life CEO")
Irdai asks insurers to bring standard accident cover from Apr
The insurance regulator has asked general and health insurance providers to provide standard personal accident cover products
 "Irdai asks insurers to bring standard accident cover from Apr")
Bajaj Allianz Life launches post-retirement fund guarantee plan
Bajaj Allianz Life Insurance on Wednesday launched an insurance plan offering a guaranteed regular deferred annuity during post-retirement life
 "Bajaj Allianz Life launches post-retirement fund guarantee plan")
ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit
Flipkart has partnered with ICICI Lombard to offer 'Group SafeGuard' insurance, a group insurance policy to its consumers
 "ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit")
ICICI Lombard sets up index to track risk exposure in sectors, companies
Indian companies have a score of 57, indicating optimised risk handling methods, says the index
 "ICICI Lombard sets up index to track risk exposure in sectors, companies")
Irdai Working Group bats for introduction of index-linked insurance plans
With investment markets turning volatile, customers are preferring guaranteed products. This, in turn, has increased the balance sheet risk for insurers
Irdai panel suggests introduction of index-linked insurance products
An Irdai panel has made a case for the introduction of index-linked insurance products (ILIP) an apt alternative to the current conventional guaranteed products and ULIPs
IRDAI proposes extension of regulatory sandbox guidelines by 2 years
Insurance regulator IRDAI on Tuesday proposed to extend the validity of regulatory sandbox guidelines by two years as the proposals received under it require more time for completion.
 "IRDAI proposes extension of regulatory sandbox guidelines by 2 years")
Bajaj Allianz Life AUM grows 79% in 10 years to cross Rs 70,000 cr
The private sector life insurer said its assets under management have crossed the Rs 70,000-crore milestone by the end of December
 "Bajaj Allianz Life AUM grows 79% in 10 years to cross Rs 70,000 cr")
MassMutual to set up Rs 1,000 crore global facility in Hyderabad
US-based insurance major MassMutual will be setting up its global capability centre in Hyderabad with an initial investment of Rs 1,000 crore
 "MassMutual to set up Rs 1,000 crore global facility in Hyderabad")
Insured's dilemma: Should you flout safety norms to get the claim?
A false declaration by the insured could compromise the safety of the buyers to whom the vehicles are sold
 "Insured's dilemma: Should you flout safety norms to get the claim?")
Irdai wants fuel pumps and cooking gas agencies to sell insurance
The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent
 "Irdai wants fuel pumps and cooking gas agencies to sell insurance")
