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The new Insurance Bill may be implemented in 2015.
An endowment policy can provide some form of life-risk cover but investors should consider buying the no-frills term plan to increase the coverage amount at a fraction of the former's cost.
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.
10 salient points that are often a source of trouble for those who buy insurance.
The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
The National Consumer Disputes Redressal Commission, while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
Aviva Life Insurance on Wednesday launched two new funds -- a secure guarantee fund and equity-oriented growth fund.
A day after Manmohan Singh won the trust vote, sans Left support, rating agencies Moody's Investor Services and Icra said the insurance sector will get a huge boost if the government paves the way for greater foreign participation in Indian companies.
Oriental Bank of Commerce on Thursday announced a tie up with Oriental Insurance Company for selling general insurance products through its branches.
Max New York Life Insurance Co Ltd, 26 per cent owned by New York Life, expects the premium income of private life insurers in India to grow at a compounded annual rate of 75 per cent over the next five years.\n\n\n\n\n\n
FM announces 12-point action plan to revive sector
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
Make a fresh start to this New Year with an appropriate insurance policy
Medical insurance policies have caps on expenses made under different heads. Some help on how they work.
Insurance companies have started offering IT, IT-enabled services, business process outsourcing and non-manufacturing companies with policies due for renewal on January 1 discounts of more than 60 per cent.
The move comes amid complaints that high returns are being promised by life insurers on ULIPs accompanied by non-existent guaranteed returns.
Pulling up insurers for lack of consistency in pricing critical illness products, the insurance regulator IRDA has directed insurance companies to stick to one standard data and eventually build a database of incidence of diseases and death rates.
Primarily trained for a career in FMCG, he shifted to insurance when the opportunity came his way.
It is important to know all the relevant clauses that could impact you before signing on the dotted line.
Your insurance policy is just not for saving tax. The bonus that accrues on your policy can also help you maximise your wealth.
MET League of Colleges and Chartered Insurance Institutes (CII), London announce the eMBA-Insurance programme.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
General insurance industry grew by 21 per cent in April-May, which saw private player ICICI Lombard fast catching up with the top four public sector insurers.
Accident insurance is the cheapest and smartest way of filling the insurance gap especially for the young.
HDFC Bank is recruiting Insurance Advisors for its branches in Mumbai.
In a move that will bring cheer to health insurance policyholders, non-life insurers are finalising the contours of a new product that will have a common minimum standard cover and will be renewable and portable across companies.
A heated debate erupted in the Rajya Sabha over the ongoing strike by ASHA workers in Kerala, with Congress and CPI(M) MPs trading accusations over responsibility for addressing their demands for a higher honorarium and post-retirement benefits. Congress MP Jebi Mather alleged that both the Kerala government and the Union government had ignored the workers' pleas, while CPI(M) MP John Brittas countered by claiming Kerala provides the highest honorarium to ASHA workers. The debate also saw demands for an AIIMS in Kerala and a hike in MBBS seats, as well as concerns over maternal health, elderly care, and mental health in India.
The information will bring about more transparency by providing prospective policyholders clear information about the amount that has been collected from them as brokerage or commission, an IRDA circular said.
Buying a wrong insurance policy can give you nightmares when it comes to settling claims. Then there are other issues like cost, riders etc. Here's a seven-point checklist to help you buy an insurance policy that YOU need.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
FM's revival package for life insurance sector will lead to high growth-high risk investments, lesser documentation
Buying an insurance policy? Claim Settlement Ratio helps you find out the chance that your claim will be settled and how soon it will be setled.
While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
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