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Wednesday, January 19, 2022

insurance sector

INSURANCE SECTOR NEWS

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.

Paperless Policies: ‘Challenges exist, but e-insurance accounts seeing 100% growth’

January 11, 2021 1:47 pm

The number of people opening new stockbroking accounts and buying insurance policies online has soared even though most offices were non-operational due to the lockdown in the wake of Covid-19 pandemic.

Insurers’ underwriting losses rise to Rs 22,859 crore; three PSU players among worst hit

December 01, 2020 10:21 am

While state-owned New India Assurance contributed the highest net profit of Rs 1,418 crore, the sector — comprising 32 players — has been saddled with total losses of Rs 1,402 crore in FY2019-20.

Stricter ad policy for insurers

October 22, 2020 1:13 am

Irdai says ads can’t illustrate future benefits on unrealistic assumptions.

Insurers’ entry in surety bond biz for infra projects proposed

October 20, 2020 12:40 am

In 2016, the Department of Financial Services had written to Irdai to explore the possibility of introducing surety bonds in favour of the Central Board of Indirect Taxes and Customs (CBIC) to facilitate trade by substituting bank guarantees.

COVID-19 impact: Here's why insurance may never be the same again

September 03, 2020 6:16 pm

The insurance companies too have now started to create products for a world where such virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.

LIC MD: ‘Our market share has increased substantially ... renewal premium is showing increasing trend’

August 31, 2020 11:06 am

Under policies, we are in the negative but the volume is increasing month to month and we will be in a comfortable position soon on this count also.

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