Money

FDI worth Rs 6,192 cr in insurance cos awaits clearance: Govt

According to Insurance Regulatory and Development Authority of India (IRDAI), the total FDI in insurance sector as on March 31, 2015, was about Rs 8,031 crore

fraud software

Chennai floods: Insurers look at Rs 200 cr claims for 8 private jets

Chennai floods: General insurance companies are likely to receive claims worth around Rs 200 crore from the owners of eight corporate jets that have been partly damaged by recent floods in Tamil Nadu.

Tamil Nadu floods: General insurers receive claims of over Rs 2,500 cr

Non-life insurers have so far received 10,000 claims valued at Rs 2,500 crore arising out of the Tamil Nadu floods, a top insurance official said today.

Irdai to launch portal for health insurance plans information

The portal will be having all the information like treatment facility, cost of treatment and cost of claims among others relating to the 35,000 hospitals which are registered by Irdai-promoted Insuran

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Tamil Nadu floods could cost insurers over Rs 1,000 crore

While the earlier deluge in Tamil Nadu, which started on November 8, has already resulted in claims of around Rs 500-600 crore, the recent torrential rains could cause far more damage, insurers point

Chennai rains

New investment norms: IRDA may bring clarity on instruments, procedures

Timing crucial as pressure builds on insurers to invest in tier-I bonds of banks

irda investment guidelines, newInvestment norms,

Govt extends RuPay card usage condition to 90 days regarding insurance claim

Under Pradhan Mantri Jan Dhan Yojana (PMJDY), RuPay Debit Card, with an in-built accident insurance cover of Rs 1 lakh, is provided to account holders. About 16.54 crore RuPay cards have been issued s

Global insurance review 2015 and outlook: Narendra Modi reforms push a booster shot, says Swiss Re

Business and consumer sentiment in India have improved significantly on expectations of a strong push towards economic reform and liberalization by Prime Minister Modi.

LIC employees agree for 15% salary hike, 5-days week

The management of Life Insurance Corporation (LIC) and the unions representing around 1 lakh employees of the insurance behemoth have agreed on a 15 per cent wage hike, which will be effective from Au

Bupa to Pay Rs 191 Crore to Max India to Raise Stake in Max Bupa by 23 Percent

Max Bupa Health Insurance (Max Bupa) today announced that its foreign parent Bupa has executed agreements to acquire an additional 23% stake in Max Bupa...

Make Your Diwali a Maxima Diwali with Exide Life Insurance

This festive season celebrate with Exide Life Insurance, by gifting your dear ones a secured future.

Future Generali India aims to grow Health Insurance Premium by 50% in next 2 years

General insurer Future Generali India Insurance aims to grow by 50%, its health insurance premium from its retail business in the next two years, as it plans to launch new products and expand its agen

New Irdai norms to provide clarity for sector

The Insurance Regulatory Development Authority of India (Irdai) came out with the guidelines on Indian control and management, which can offer more clarity for the insurance sector.

insurance

Max Life Insurance launches ‘Monthly Income Advantage Plan’

Max Life Insurance has launched its new product -‘Max Life Monthly Income Advantage Plan’ – a traditional, participating and money back life insurance plan...

IRDAI issues guidlines on FDI in insurance firms

IRDAI issued guidelines to bring in more clarity on the issue of compliance with the manner of Indian-owned and-controlled companies.

IRDA

Insurance broker Aon BV to exit India, cites ‘regulatory changes’

The Dutch firm which holds 26 per cent stake in Aon Global Insurance Brokers Pvt Ltd has informed the authorities about its plan to exit from the venture through a formal communication.

Life insurance - NPS

Telenor India Offers Free Life Insurance Cover to Customers

In a first of its kind initiative in the telecom industry, Telenor India today announced free life insurance cover for its existing 47.55 million as well as potential new customers across its six oper

Irdai mulling long-term health insurance products: TS Vijayan

The Insurance Regulatory and Development Authority of India (Irdai) is planning to develop long-term health insurance products as part of its efforts to penetrate...

India’s mortality protection gap at $92.2 per household: Study

For every USD 100 needed for protection, only USD 7.8 of saving and insurance is in place for a typical Indian household, leaving a massive mortality protection gap of USD 92.2, says a study by Swiss

investment

Deposit linked insurance benefits hiked to Rs 6 lakh

The CBT also recommended removing the condition of continuous employment of one year under current employer before being eligible for insurance benefits.

investment

Max Life Insurance launches ‘Max Life Platinum Wealth Plan’ for high net worth individuals

A Life Insurance Plan designed for higher returns to customer who wants a shorter Policy Term of 10 years only

PM Modi’s gift to Varanasi on Raksha Bandhan: Accident insurance for 51,000 women

On the occasion of Raksha Bandhan, Union minister Piyush Goyal on Saturday said here that as many as 51,000 women and girls of Varanasi will be insured under the Pradhan Mantri Suraksha Bima Yojana as

narendra modi on raksha bandhan

Exide Life Insurance Launches “Exide Life Wealth Maxima” – A Unique Unit Linked Life Insurance Plan

Exide Life Insurance Company Limited, an established and profitable life insurance company, today launched Exide Life Wealth Maxima - a unique unit linked insurance plan. In addition to the opportunit

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15

The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due to a special tax treatment for the New Pension System.

pension

Management control norms by Dec: Irdai

Irdai is looking to remove sub-limits in the commission structure, but will retain the overall permissible expenses limit for insurers

Final guidelines on ‘management control’ for insurers in December: IRDA

Insurance industry in the last few years had seen muted growth , but participants believes that with FDI up to 49% in Insurance sector more players will bring in capital to expand their business...

insurance sector

Government’s insurance scheme: New database to keep track of claim duplications

Till now, the Pradhan Mantri Jeevan Jyoti Bima Yojana has received 1,184 claims while another 284 claims have been filed under the Pradhan Mantri Suraksha Bima Yojana.

life insurance claim
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