Month: June 2012

Insurance ombudsmen may soon be allowed to deal with the grievances of individual consumers involving claims higher than the Rs 20 lakh permitted at present. The scope may also be…

Non-life insurers have lowered discounts on commercial and private own-damage motor policy by as much as 20%, as third-party motor risk moves to "declined pool". Insurance regulator Irda recently formed…

SBI Life Insurance Company Ltd has been awarded the ‘Top Indian Public Sector Enterprise’ under insurance sector in the PSU Awards 2012 by Dun & Bradstreet.

Online forums are abuzz with complaints of amounts being deducted from consumers' accounts — without their written consent — towards payment of insurance premiums solicited by telemarketers.

The finance ministry has told the four state-owned general insurance firms to restructure their fire, health and motor businesses to cut losses that run into hundreds of crores.

Munich Re, the world’s largest reinsurance firm with a premium income of nearly $50 billon a year has virtually pulled out of the Indian market, indicating that it will stay…

Insurers could have to pay out as much as 700 million euros ($880 million) as a result of earthquakes that hit northern Italy this month, risk-modelling agency Eqecat said recently.

IRDA in its order dated 24th May 2012 has fined ICICI Prudential Life Insurance Co Ltd and directed it to pay Rs.1.18 crores within 15 days. This is the maximum…