DOCTRINE OF SUBROGATION
Importance Doctrine of subrogation is one of the most important ingredient and essential features of the principles of Indemnity, which, distinguish an ordinary commercial contract from an insurance contract. This…
Second-generation insurance reforms on horizon
The government appears to be gearing up for second-generation reforms in the insurance sector. When he resumed charge of the finance ministry, P Chidamabaram held a slew of meetings with…
Insurance exemption given to CTU buses: UT to HC
The UT Administration recently informed the Punjab and Haryana High Court that it has exempted the Chandigarh Transport Undertaking (CTU) buses from insurance cover till February 28.
FDI no threat to LIC, says chairman
Life Insurance Corporation (LIC) of India, country's largest insurance service provider, is not concerned about increased foreign direct investment (FDI) in insurance sector. LIC chairman D K Mehrotra said recently…
Claim procedure under solatium scheme prevailing in India
The Scheme came into force from 1.10.1982. The procedure for getting solatium money is as follow:
Axis Bank to raise Rs 6,000 crore from qualified institutional players recently
Axis Bank is all set to raise around Rs 6,000 crore through private placement of its equity shares to qualified institutional players (QIPs).
Tata AIA Life insurance launches online term plan ‘iRaksha Supreme’
Tata AIA Life Insurance (Tata AIA Life) launched an online term insurance plan 'iRaksha Supreme' with coverage up to 80 years especially catering to needs of working women.
LIC Nomura to float offshore ETFs soon
The coming fiscal will be an event-filled one for LIC Nomura Mutual Fund, which has on its priority list new offshore index-linked exchange-traded funds (ETFs), tapping the existing customer base…
Car insurance scam busted, duo nabbed
The Ulhasnagar crime branch has arrested two people for running a fake vehicle insurance racket and cheating people who did not have the time to stand in queue to get…
Government insurance cover, mere eyewash™
Deriding state government move to cover Panches and Sarpanches under an insurance plan, Panchayat members recently termed the initiative as an attempt to bail out the present dispensation from its…