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insurance sector
INSURANCE SECTOR NEWS
6 out of 10 consumers complain of insurance mis-selling, says survey
May 17, 2024 1:06 am
This practice leverages on the fear of missing out and discourages users from reading all the information available.
Election process to delay insurance sector appointments
April 03, 2024 5:30 am
After PSU banking industry and Life Insurance Corporation (LIC), it is now the turn of the PSU general insurers including Agriculture Insurance Company and GIC Re to finalise the wage negotiations with the government.
Insurance employees’ body slams Centre over privatisation plans
May 08, 2023 2:04 am
AIIEA stressed that the central government might table a Bill in the upcoming Monsoon session to amend the insurance laws to change the minimum capital requirement, commission structure and allow issue of composite licences.
Insurance players need to augment their capital: IRDAI Chairman Debasish Panda
April 13, 2023 12:40 am
Speaking on the regulatory and supervisory regime, the Chairman said the regulator is working towards moving from a factor-based solvency regime to a risk-based capital regime.
Insurance law review on cards to push for ‘efficient use of resources’
December 02, 2022 7:02 am
In view of the changing needs of the insurance sector, a comprehensive review of the legislative framework governing the sector has been done in consultation with IRDAI and industry, the memorandum said.
Surety bonds: Slow take-off likely as pricing, reinsurance concerns remain
February 04, 2022 6:12 am
Surety bonds are aimed at infrastructure development to reduce indirect cost for suppliers and work-contractors, thereby diversifying their options and acting as a substitute for bank guarantee
Complaints of insurers refusing to offer Covid policies: Irdai steps in
May 10, 2021 11:43 pm
The regulator has been flooded with complaints about insurers refusing to offer or renew Covid policies fearing spurt in claims.
Eyeing rural coverage, Irdai pitches for model insurance villages
May 05, 2021 7:35 am
The idea behind the model village concept is to offer comprehensive insurance protection to all the major insurable risks that villagers are exposed to and make available covers at affordable or subsidised cost.
Motor, crop insurance biz declines, health rises 11%
April 21, 2021 5:00 am
In the motor portfolio, motor third party (TP) premium — which has not been hiked by the Insurance Regulatory and Development Authority of India (Irdai) in FY21 — has grown 5 per cent to Rs 10,650 crore.
Risk as per buyer’s choice: Panel for index-linked plans
February 09, 2021 2:31 pm
The life insurance sector saw a new business premium income of Rs 1.91 lakh crore in 2020.
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