The claim comes against the cancellation of the match due to heavy rains.
In its annual report, the central bank had said that it would lay down a risk management and capital adequacy framework for bank-sponsored private pools of capital.
Irda nod to policies with flexible premium, sum assured and tenure.
The move is aimed at improving margins.
Vijay is the name of the character that Amitabh Bachhan has played in many of his movies. In most cases, Vijay belonged to the underprivileged class. It's a curious coincidence that the megastar has just become brand ambassador for an insurance product called Max Vijay, a product targeting the poor.
Insurance industry sources said one of the largest telecom service providers paid Rs 20 crore to insure its employees in 2009-10 against Rs 9 crore last year.
However, policyholders will have to stay invested for the entire period of the scheme to get these benefits.
The DBS venture has been under financial stress of late.
With increased awareness and concern over unexpected events like the 26/11 terror attack on Mumbai, Ganesh mandals (organisers of the Ganapati festival) are seeking higher insurance cover. For instance, Mumbai's most popular mandal, Lalbaughcha Raja Ganesh Mandal, has bought insurance worth Rs 4 crore (Rs 40 million).
One indication of this was the fact that many large bond buyers stayed away from the Rs 12,000 crore auction conducted on August 7.
A pass-through in taxation means that the business entity need not pay tax. Instead, all taxable income is passed through to its owners or members.
Income from distribution of third-party products such as insurance policies and mutual fund schemes is already under pressure because of the unfavourable economic climate.
In his first interview since taking over as ICICI Lombard managing director and CEO, Bhargav Dasgupta tells Shilpy Sinha that during the first quarter of 2009-10, the company has seen an increase in profit, while most other players are bleeding.
Banks' net interest margins under pressure due to moderate income from advances.
Banks have come to realise that recession or no recession, education loans are a low-risk business.
Suvir Sujan talks about his company's vision, investment plans and belief in the Indian growth story.
Insurers, mostly private ones, are opting to cancel mediclaim, marine and cargo cover at a later stage due to adverse claims ratio. In order to grab market share, they have not been pricing the product correctly. Sources said that ICICI Lombard has asked L&T to pay additional premium for the group mediclaim policy in the middle of the year. When contacted, L&T said that ICICI Lombard has requested for extra premium but has not sent any notice.
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
Life insurance companies have put their plans to list their shares on the stock exchanges on the backburner, though they are hopeful of Parliament's nod for the Insurance Bill, which will increase the foreign investment limit, during the Winter session.
One year after the Insurance Regulatory and Development Authority's (Irda) allowed insurance companies to invest in venture capital (VC) funds, no insurer has shown interest in funding VCs.
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