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.
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.
Got a health insurance query?
Antony Jacob, CEO, Apollo Munich replies Health Insurance queries of Apnapaisa readers.
BoM declines joint venture
BoM declined its collaboration with Sriram Financial Services Holding Pvt Ltd. And Sanlam Ltd South Africa for general insurance.
General Health Insurance Plan Exclusions
The exclusions on a health insurance plan vary from company. Pay attention to is whether pre-existing diseases or treatment for common but expensive treatments, such as cataract or hernia are covered.
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.
JiyoFit by Bajaj Allianz
JiyoFit will incentivize customers to follow a healthy lifestyle by rewarding points on gym visits, purchase of health foods etc. Bajaj Allianz is first in the industry to launch the health card in association with Yes Bank and powered by Visa.
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.
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Do we have any idea how much can a cigarette cost us in the long run? Let us see an anecdote on this which will aback us on the facts!
Changes galore in insurance sector in '08
Insurance buyers can expect more mature, custom-made products and better services this year.
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.
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.
General health insurance plans
General health insurance plans typically provide for hospital room charges, doctor/surgeon fees, medical tests, medicines and related expenses.
PSU insurance companies to form a single corporation
Four PSU insurance companies to join and form Single Corporation like LIC to meet business objectives.
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.
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.
Bajaj Allianz goes SAS
Bajaj Allianz decides upon SAS tools a leading business analyst to meet the growing insurance demands.
Supreme Court rule for Emergency Care
Supreme Court has given a rule that a person injured especially in the case of road traffic accident or assault etc. should be provided with the first aid and then the hospital should fulfill with the police formalities.
IRDA committee to examine insurance distribution networks
A committee has been constituted by IRDA to examine the functioning of the various distribution channels for life insurance products
General Insurance Corporation gets stakes in Kenyan firm
GIC obtains 'East African Reinsurance Company' based in Nairobi for which they have got the consent of the Kenyan regulator.
Foreign direct investment of $540 mn in insurance sector
$540 million of FDI has been pumped in Indian insurance sector for the period ending on March 31, 2007. As per the regulations, Foreign Direct investment in the insurance sector is capped at 26 per cent.
Inadequate life insurance cover for majority Indian households
About 94% of indian households will not survive the first year if their household income were to stop.