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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.
UCO Bank puts on hold its non-life insurance venture
UCO Bank, in its fifth Annual General Meeting, said that it has decided to put hold on its proposed venture into non-life insurance business. The bank is instead planning to enter into another business.
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.
United India to settle claim
United India Insurance Company will have to settle the claim in full for Roshan Lal Oil Mills Limited based in Punjab.
StanChart-Tata AIG tie-up for 'Extended Protection Plan'
Standard Chartered Bank has signed a pact with general insurer, Tata AIGt to launch Plus Extended Protection Plan. This plan will provide insurance for lost card.
Insurers can't refuse theft claim in absence of FIR- Consumer Panel
Delhi state consumer dispute redressel commission, in its ruling said that it is a false impression in the minds of people that FIR is necessary to claim reimbursement from insurance company in case of theft, as there is no difference between a simple com
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.
Oriental insurance for Tata Power Project
Oriental Insurance covers the Tata project im Gujrat from the time the equipment leaves the suppliers warehouses in India or any other part of the world.
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.
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.
Television, Video Equipment, Portable Computer, Mobile Phone
A shopkeepers' insurance policy provides cover for equipment against any loss or damage by fire, riots and strikes, theft and accident. Read onn to know more.
PSU insurance companies to form a single corporation
Four PSU insurance companies to join and form Single Corporation like LIC to meet business objectives.
Electronic Equipment / Reinstatement of Data and Software
This provides cover against damage or loss for electronic equipments, such as computers, printers, fax, UPS etc.
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.
Business Interruption and Increased Cost of Working / Loss of Profit
Did you know that your insurance could cover you for loss of income due to damage to your property? There's more to it.
Electrical or Mechanical Appliances Breakdown
Provides cover for sudden and unforeseen electrical or mechanical breakdown of electrical or mechanical appliances such as air conditioners, refrigerators, photocopiers etc.
Claims Process
Do you want to know about the process of filing a claim? Here's some information.
Covering a rented shop
Your shop tenant can also insure his assets through a shopkeepers' insurance policy. Read on to know more.
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.
Money Insurance
Money insurance provides cover for loss of money at your premises or while transporting it, due to accidents, hold-ups, break-ins, robberies, dacoities, etc.