But, will help Indian funds get more deals
The high level coordination committee on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.
The existing rules under the insurance laws prescribe a 10-year minimum period before insurance companies can list their shares.
In order to push more long-term products, insurers are trying to push long-term unit-liked plans by giving incentives to agents who sell Ulips with higher tenure.
Tata AIG General Insurance, which is the market leader in personal accident covers, eyes 200 per cent growth in income from this segment. It has tied up with a number of education consultants for its Prudent Guard policy for students. Insurers sell two types of personal accident cover to schools -- one for students and another for parents. Some insurers also sell hybrid product covering both.
For start-ups, the model can save 30-40 per cent of the total costs.
Apollo DKV's Maxima and ICICI Lombard's Health Advantage Plus come at a fixed annual premium of Rs 13,000 and Rs 15,000, respectively. Unlike other medical insurance policies -- which require a minimum 24-hour hospitalisation -- the sum assured is linked to the age of the policyholder.
With the public sector non-life insurers rationally pricing risks, discounts on property insurance has come down by 20-25 per cent.
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.
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).
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.
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.
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.
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