GIC Re denies refusing cover to Indian refineries
India's sole reinsurer General Insurance Corporation of India (GIC), clarified that it has not refused cover to any Indian refinery dealing with Iranian crude and is only engaging in discussions…
Tripura announces insurance for poll staff
The Tripura government has announced insurance for about 60,000 personnel who are involved in conducting the forthcoming assembly election scheduled to be held on February 14.
Wife murderer forged death certificate to claim insurance money
Six people, including murder accused Prakash Shingnapure, who had allegedly killed his wife and daughter, have been booked for defrauding the insurance company of Rs 2.79 lakh by submitting the…
Mumbai civic body plans insurance gift for paying property tax
About 15 lakh Mumbaikars who paid a significant portion of the Rs 2,156 crore collected in property tax this year are likely to get a unique gift from the city's…
Repeat offender? car insurance may cost more
Are you a repeat offender of traffic rules? Soon, driving may turn out to be costlier for you. Or, you may be forced to even stop driving. The Delhi traffic…
Focus on higher commissions adds to insurance mis-selling
The concern expressed by Finance Minister P Chidambaram earlier this week on the issue of mis-selling in the insurance industry has brought the issue of malpractices while selling policies to…
AML/CFT guidelines-Procedures for Determination of Beneficial Ownership
Attention is drawn to clause 3.1.1 (iii) of IRDA Circular reference IRDA/F&I/CIR/AML/158/09/2010 dated 24th September 2010 on AML/CFT guidelines (the Master Circular 2010) which requires insurers to identity and verify the beneficial owner…
Samsung Life Insurance eyes Pramerica stake in DLF JV
South Korea's largest insurance company,Samsung Life Insurance is in talks with DLF -Pramerica to buy Pramerica's 26% stake in the insurance joint venture to enter India. Even after the exit…
Reliance General Insurance reports net profit of Rs. 160mn in December quarter
Private sector non-life insurer Reliance General Insurance has reported a net profit of Rs. 160 million for the quarter ended December 31, 2012, against a loss of Rs. 340 million…
Aviva Life Insurance appoints Rishi Piparaiya as Director, Marketing & Bancassurance
Aviva Life Insurance, announced the appointment of Rishi Piparaiya as Director – Marketing & Bancassurance. Rishi, who joined Aviva Life Insurance in 2009 as Director Bancassurance and Business Partnerships will…