India is likely to count among the top three life insurance and 15 general insurance markets in the world by 2020. However, private insurance companies are to be find a way to operate profitably.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
Public general insurance companies to collaborate for speedy settlement of claims
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
hree big players -- ICICI Lombard General Insurance Company, Bajaj Allianz General Insurance and Apollo Munich -- have launched policies in tie-ups with spas, gymnasiums, yoga institutes, diagnostic centres and health food retailers to offer discounts to customers on these services and products.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
A senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport's assets
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
Bharti Axa General Insurance on Tuesday launched an add-on insurance product for car owners, which will provide them full purchase price of the vehicle for the first two years, in case of theft or loss.
The rupee, which has depreciated about 23 per cent since May, has increased the loss ratios for the travel insurance segment.
Staying healthy is good news for the insurance company as well since it implies lower claims. Insurance companies offer discounts anywhere between 8 And 30 per cent discount on premium.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
At present, the rules do not allow the government to shed stake in the four public sector general insurance companies - New India Assurance, United India Insurance, National Insurance and Oriental Insurance.
If you are a frequent traveller, then you should opt for a multi-trip travel plan because it works out to be cheaper.
Many other companies have expressed intent of diluting stakes.
Advait Rao Palepu reports how a recent Supreme Court order will impact motor vehicles insurance policies.
You need not shell out the big bucks to be pampered. Buy a health cover and enjoy luxury treatment at a spa, join a gymnasium or a yoga centre and get the necessary incentives that suit your budget.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH insurance and AUTO insurance.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
ICICI Lombard General Insurance on Thursday said it has started offering zero depreciation add-on cover and consumable items add-on cover for motor insurance products.
Study reveals alarming trend.
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
According to analysts, this is the highest premium paid by a foreign insurer to a domestic partner.
Expect premiums to go up or introduction of a co-pay option for third-party damage
Moving to a new company means losing out on continuity benefits
Hurdles such as approvals for repair and fixed rates can make the process time-consuming.
Health insurance has almost 23 per cent market share in the general insurance space.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Travel insurance policies do not generally cover adventurous or sporting activities such as bungee jumping, paragliding, mountain climbing, or white water rafting, which fall under hazardous activities.
Companies like public sector New India Assurance, one of the largest general insurers, and private Cholamandalam M S General Insurance, part of the Murugappa group, have already launched their mobile apps that enable customers to renew their policies or buy new ones.
The sector has sought a mandatory natural catastrophe cover to cover perils in calamity-prone areas.
Analysts say large issue sizes and high prices were key reasons for the poor response to IPOs of other public sector insurance entities. The high share price meant small investors did not foresee any listing gain
According to the action plan finalised by the General Insurance Council, the industry lobby for non-life insurers, the portable health cover will be available for a period of three years initially. Depending on the feedback in terms of claims ratio, the insurance companies will take a call on whether to extend the cover. Also, the scheme will be open to only those in the age group of 18-40.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
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