"We have written to all the companies in which we have nominee-directors, asking them not to give Esops," said LIC managing director D K Mehrotra. He said there were more than 100 companies in which LIC had nominee-directors.
The move opens a debate on the role of independent directors nominated by institutions.
GoAir and Tata-AIG have signed a deal of travel insurance for passengers who book online tickets.
L&T plans to launch as asset management company and has also collaborated with US based Travelers for a non-life insurance venture.
The code of market conduct is being prepared under the aegis of the General Insurance Council (a self-regulatory body of the 12 non-life insurance companies) in this regard.
Players may have to suffer underwriting losses this year.
The Insurance Regulatory Development Authority of India has clamped down on excessive discounts on fire
Medical insurance policies have caps on expenses made under different heads. Some help on how they work.
Insurance against terror will command a lower premium starting next fiscal, as the pool created in this respect has accumulated a large sum and received less claims.General insurers have agreed to cut down the premium charges for the Market Terrorism Risk Insurance Pool to up to 0.003 per cent of the sum insured for various categories of properties.
The gross premium of the non-life insurers stood at Rs 2,456.64 crore (Rs 24.56 billion) in April-October against Rs 2,383.28 crore (Rs 23.83 billion) in the corresponding period last year.
The Insurance Regulatory and Development Authority on Wednesday announced that it would lift pricing controls on motor insurance, along with other lines of business currently under tariff, with effect from January 1, 2007.
Housing Development Finance Corporation Ltd said on Tuesday it will acquire US-based Chubb Global Financial Services Corporation's 26 per cent stake in their joint insurance venture.
ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development.
Leading public sector general insurers have mooted the idea for a regulator to standardise the costs of medical treatment across the country.
The Finance Ministry is considering to make it mandatory for all private general insurance companies to provide third party motor insurance, which is presently optional for them.
Insurer divides country into three zones with varying premiums.
The Insurance Regulatory Development Authority of India (IRDA) and non-life insurance companies are working towards setting up a pool for creating a capacity within India to underwrite risks from natural catastrophes.
First, the shock: according to a National Council of Applied Economic Research survey, of the 78 per cent Indian households aware of life insurance, only 24 per cent actually own one.
Shopping for insurance online is the way to go, especially if you need general insurance. Here you can compare various deals in the market to choose the one best suited to you.
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
Most policies have a 30-90 days waiting period, during which you will not be able to claim any hospitalisation expense, except in case of accidents.
Australia-based Insurance Australia Group is in advanced talks to buy a 26 per cent stake in HDFC Chubb General Insurance, following the buyout of Chubb's stake by HDFC.
Bracing up for a detariff regime from January next year, insurance regulator IRDA has issued a 31-point draft revised 'File and Use' guidelines for all general insurance products to be complied by insurers.
It will help in reducing the turnaround time.
With competition in the general insurance sector heating up, companies are busy innovating in order to provide value-added services to existing customers.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Move to strengthen market share and become more profitable.
The judge orally observed that the obtaining of this kind of benefit by any such nominee-director raised an important question of morality and, equally, of law.
ICICI Lombard has bagged a contract from the railways to provide personal accident cover at a premium of just 4.75 paise per passenger. The personal accident cover is for a year starting from September 20, 2007.
Weakness in the broader markets, along with expensive valuations that these companies had commanded during their IPOs, has led to this fall
Irdai will maintain a centralised list of the details of all agents appointed by insurers.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
ICICI Infotech Ltd is foraying into integrated insurance management solutions and would develop Islamic insurance solutions soon.
Install blockers to prevent falling prey to cryptojacking.
Threats from IS militants, the Syrian conflict and the migrant crisis in Europe are some of the recent risks that have companies worried, says M Saraswathy.
Among those who lived on rent, 56 per cent believed natural calamities were the biggest threat to their homes.
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