Page 5 - Insurers

Non-life insurers get Covid-19 claims worth Rs 10,000 crore as of Dec 11

The insurers have settled 508,334 claims amounting to over Rs 4,800 crore

Merger of insurers: Irdai releases draft norms on shareholder compensation

Says those whose rights against the acquiring insurer have been reduced, must be paid compensation based on the residual value of assets

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

Rising Covid, non-Covid claims a double whammy for general, health insurers

Insurers said while the situation had been manageable so far, going ahead, it would be a cause for concern

Insurers see over 90,000 Covid-related claims worth Rs 1,463 crore

State-wise data shows, Maharashtra, which has recorded the maximum number of cases in the country, has the maximum claims coming in, followed by Tamil Nadu, Delhi, Gujarat, and Karnataka

Irdai allows insurers to offer Arogya Sanjeevani as group insurance policy

Arogya Sanjeevani Policy, whether in individual or group form, will also cover treatment of Covid-19 disease

Corona Kavach health insurance policy evokes good response: Insurers

Corona Kavach, which was launched on July 10 and is being offered by both general and health insurers, is a standard health insurance policy created to meet the treatment requirements for coronavirus

Capital infusion in 3 state-owned insurers 'credit positive': Moody's

It further added that, the government's goal of listing the companies on the stock market will become feasible only after this

Insurers start offering standard Covid product as mandated by Irdai

As of now, the insurers have to offer the indeminity-based standard Covid cover (Corona Kavach), but later they may also offer the benefit-based product (Corona Rakshak), insurers said

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

Standard covid product to be benefit-based cover under revised IRDAI rules

The minimum sum assured for the product will be Rs 50,000 and it can go upto a maximum of Rs 5 lakh

After brushing off coronavirus concerns, insurers face double whammy

Because epidemics are excluded from many business insurance policies, the early prognosis was for a low levels of claims

Markets volatility will weigh on global insurers' profits: Moody's

An economic slowdown triggered by the outbreak will crimp business volumes for insurers and also lead to higher claims for certain types of insurance

Rewiring insurance with tech to speed up underwriting and claims process

Most of the insurance providers have mobile apps, meant to provide customers easier access to the insurer

Insurers stay on sidelines as Mutual Funds step up purchase of shares

Insurers bought shares worth Rs 42,000 cr in 2019, while MFs spent Rs 53,000 cr

Centre initiates process to appoint two full-time members on Irdai board

Both the appointments shall be made by the central govt on the recommendations of the Financial Sector Regulatory Appointment Search Committee.

Insurers reward customers for good behaviour, offer differential pricing

Insurers are offering differential pricing, based on buying behaviour only at Policybazaar.com

Mandatory listing of insurance firms on hold

Several companies have approached the finance ministry to discourage Irdai from making the plan operational

Insurers' new customer watch tool

They are increasingly usingg data analytics to identify client profiles & behaviour, to cross-sell and identify more products to offer

Insurers strive to meet e-policy deadline

Firms, repositories have to give e-document to customers by October 1; transition will be smooth, they claim