The independent review conducted by the IRDA through various agencies revealed that the current framework of the Pool is severely affecting the financial viability of the non-life insurance segment due…
The test of good conduct of business by insurers is whether policyholders are treated fairly both before the contract is entered into and throughout the lifecycle of the insurance policy,…
The IRDA along with other stakeholders of the industry, has a responsibility of improving financial literacy in the country as well as to impart consumer education in insurance. Towards this…
The IRDA has taken a number of initiatives on development of the Health insurance market in the country in the year 2011-12. Further progress was also made on other initiatives…
Life insurance policies are generally of long-term in nature. As such, in the interests of all parties, i.e., the policyholders, the intermediaries and other stakeholders, the insurer has to put…
Insurance penetration and insurance density are the two important indicators, which provide the level of development of insurance sector in an economy. Insurance penetration is defined as the ratio of…
An insurance company based in DLF Phase-II has filed a complaint against an insurance agent alleging that he was involved in a fraud worth lakhs of rupees. Following a preliminary…
Fair trade regulator CCI has approved 30 per cent stake purchase by state-owned Punjab National Bank (PNB) in MetLife India Insurance Company. The Competition Commission of India (CCI) said the deal…
The family of a 44-year-old man, who died in a road mishap involving a rashly-driven truck, hasbeen awarded a compensation of Rs 10.81 lakhs by a Motor Accident Claims Tribunal…
Natural disasters cost insurers USD 65 billion last year, with the United States accounting for nine-tenths of the bill and Superstorm Sandy prompting payouts of USD 25 billion, a leading…