S V Ramanan, CEO, CAMS Repository Services, answered readers' queries on electronic insurance in an online chat with readers August 6
Raising concern over the underwriting skills of insurance companies to properly price products, the Insurance Regulatory and Development Authority on Monday said it would consider all factors before taking a final decision on de-tariffication of the
In several states, there were cases of falsification of records and money never reached the poor.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
The Reserve Bank said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route.
The Law Commission is likely to come up with a final report on revamping all insurance laws by December this year after consultation with the Insurance Regulatory and Development Authority.
Leading private life insurers HDFC Standard Life, Bajaj Allianz and Birla Sun Life top the list of firms against whom consumers have filed complaints with sectoral regulator Irda for indulging in unfair business practices.
Wait till these are refiled as it will give you added benefits.
In the April 2012-February 2013 period, the life sector's industry's new business premium collections fell 6.1 per cent, compared to the corresponding period of the previous financial year.
From mining through claimants' social media updates to performing a background check, insurance companies have their own set of measures to sniff out whether the statements of the claimant are true or not. Beware!
Will take their views on improving investment climate and boosting economy.
Insurance policy document will become digital and paperless like shares in the coming year and the policyholders would be saved from preserving the physical copies of their insurance policies.
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
Sales of health and pension policies of life insurance companies have taken a beating in June, according to the latest data released by the Insurance Regulatory and Development Authority (IRDA).
Priority will be to maintain a balance between sector's growth and consumer welfare.
Sebi has approved the norms for financial institutions setting up shop at GIF City in Ahmedabad.
FinMin talking to Irda on many issues, meeting Chidambaram this week.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
Though exposure draft proposed 35-60% hike, Irda raised it only 19%.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
After rise in duties, third-party motor insurance rates set to increase premiums 5 - 10 per cent.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
Sources said the Insurance Regulatory and Development Authority's vigilance department was looking into these complaints and had carried out inspections in this regard.
The increase in FDI limit in the insurance sector may attract Rs 30,000 crore that the industry requires over the next five years, Insurance Regulatory and Development Authority has said.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
The Irda is of the view that any insurance product must carry some form of assurance.
Since last September, when the Irda capped distribution costs of Ulips, the number of policies with riders being sold had risen from 5% of the total to 20%.
RBI unveiled a few weeks ago its discussion paper on the proposed holding company structure for financial conglomerates, there were no murmurs of protest from any of the other regulators.
Sebi had in October last year given the go-ahead to insurance companies for coming out with IPOs.
LIC is on board after tying up with all five insurance repositories; 1,50,000 e-Insurance Accounts opened across India till date.
The Life Insurance Council has made a representation to the Insurance Regulatory Development Authority (Irda), seeking some revisions pertaining to unit-linked products.
The premiums for third-party motor insurance may rise by 50-80 per cent this year.
India is in need of reinsurance capacity for many large risks.
An Irda official said the idea was to improve the penetration levels of insurance and deepen financial inclusion.
The Insurance Regulatory and Development Authority on Thursday allowed portability of health insurance products. It will be applicable for all existing and new contracts from July.
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