BoM opts out of General Insurance JV
Bank of Maharashtra, the Pune-based public sector bank, has opted out of a joint venture between Shriram Financial Services and South Africa's Sanlam due to differences.
General insurance industry posts robust figures
The private players posted a growth figure of 27.68 per cent over the last fiscal where as the public players posted a growth figure of 4.04 per cent during the same tenure.
Reliance General Insurance flies high
Reliance General Insurance has grown 125% in business this fiscal year, outdoing its chief competitors ICICI Lombard and Bajaj Allianz.
No impact of de-tariffing on private insurers
Total de-tariffing, which came into effect from January 2008, has not had any impact on premium income of general insurers.
Why is a Critical Illness policy so 'Critical' and where can you buy it?
A mediclaim policy is not a substitute to a critical illness policy. And, it is comparatively more expensive.
Oriental Insurance opens service center in Mumbai
Oriental Insurance Company, has opened its first service center in Mumbai. Initially, it will handle motor claims for all Mumbai offices.
General insurance to grow 18% in 2008
According to Mr. K. N. Bhandari, Secretary General of the General Insurance Council, the general insurance industry is set to grow at 18% in 2008.
New budget to impact sales of insurance companies
Due to increase in tax bracket, the number of tax-payers may decrease. increase. May lead to a decrease in number of free policies issued.
BoM declines joint venture
BoM declined its collaboration with Sriram Financial Services Holding Pvt Ltd. And Sanlam Ltd South Africa for general insurance.
ICICI Lombard, best insurer 2007
ICICI General insurance awarded best general insurance company of the year at Singapore in the 11th Asia insurance industry awards 2007, the same being rewarded for introducing biometric smart card, weather insurance for farmers, and introducing online in
Four major insurance companies to merge
4 major insurance firms; National Insurance Company, New India Assurance Company, United India Insurance Company and the Oriental Insurance Company to merge.
SBI JV with Australian insurer for entering general insurance sector
SBI bank signs a pact with Australian firm to start a general insurance business. Operations to begin by end of this fiscal for regulatory approval.
India Infoline gets insurance broking nod from IRDA
The Indian Infoline Group has an approval in principle from IRDA to start its insurance broking business.
Changes galore in insurance sector in '08
Insurance buyers can expect more mature, custom-made products and better services this year.
Critcal Illness Plan Exclusions
There are a few exclusions applicable in case of a critical illness health insurance plan. Find out more about these exclusion, read onn.
Specific health plans
Specific health insurance plans provide cover for critical illnesses/diseases such as heart attack, kidney failure, etc; most insurers offer critical illness plans.
Critical Illness Plans
Under the critical illness plan, the insured receives a lump sum amount within a few days of diagnosing a critical illness. Read more to find out about this health plan.
FDI limit in insurance may be raised
Finance Minister Mr. P. Chidambaram has hinted that the FDI limit in the insurance sector will be raised from 26% to 49%, and that it would be passed by Parliament in this government's term itself.
ROI on Sensex gains offsets underwriting and detariffing losses for general insurers
In spite of losses due to detariffing of the insurance sector leading to underwriting losses, general insurance companies more than made up by return-on-investment (ROI) incomes due to the booming stock market.
GIC asks to keep premiums out of service tax net
The General Insurance Council (GIC), the representative body of non-life insurance insurers, has proposed that health insurance premiums and premiums below Rs 2,500 for non-health insurance polices should be out of the service tax net.
PSU insurance companies to form a single corporation
Four PSU insurance companies to join and form Single Corporation like LIC to meet business objectives.
Dabur and Liberty Mutual venture into non-life
Dabur and Liberty Mutual come together to form a non-life insurance firm. Their focus will be on selling personal insurance products such as car, home and personal accident insurance.
Insurance critical for 'critical illness'
Critical illness cover is provided by general insurance companies as individual policies whereas life insurers provide it as a rider attached to the life insurance policy.
Insurance agent malpractices to be made public
Insurance agent malpractices to be made public as per IRDA rules. Corrective steps taken after getting several complaints from the customers. The names of the errant agents to be published on the insurance websites of each insurance firm.
J Harinarayan new IRDA Chief
Mr. Jandhyala Harinarayan is appointed as a chairman of Insurance Regulatory Development Authority of India (IRDA), succeeding CS Rao who retired in May this year.
Future Group in insurance venture
Future group and Italian Assicurazioni Generali S.p.A comes together to start a life insurance venture and have received a liscence to conduct life and non-life insurance business in India.
ICICI Prudential to concentrate on health insurance
ICICI Prudential is looking at its health vertical to be the major growth driver of its insurance business.
Govt trying to ease investment norms
The government of India is trying hard to win agreement from their coalition allies in order to ease foreign investment, banking and pension.
Bajaj Allianz goes SAS
Bajaj Allianz decides upon SAS tools a leading business analyst to meet the growing insurance demands.