United India Insurance makes a mockery of PPN package rates
In a strange case, the TPA of United India approved cashless hospitalisation as per a package rate for preferred provider network. But the network hospital billed the…
Insurers gear up for e-insurance issuance
Insurance companies are gearing up to issue e-insurance policies in the near future in order to create a paperless environment in the industry. Insurance Regulatory and Development…
No agent can transfer corporate licence in 1 yr: IRDA
The Insurance Regulatory and Development Authority (IRDA) recently said no agent / corporate agent can seek transfer from one insurer to another within one year of grant…
Reliance Life insurance eyes insurance tie-ups with smaller banks
Reliance Life Insurance Company is exploring bancassurance partnerships with multiple tiny banks since bigger entities are not available for tie-ups and the regulator is sitting on proposals…
Insurance companies cannot load premium due to adverse claim ratio in Health Insurance
It is illegal to refuse renewal of a policy. So, when an insurance company does not want to renew a policy that has become onerous, it adopts the back-door method…
DLF exits from insurance biz; sells 74% stake in DLF Pramerica
Realty major DLF exited the life insurance business by selling 74 per cent stake in its joint venture DLFPramerica Life Insurance to Dewan Housing Finance for an…
New India Assurance signs MoU with ICSI
New India Assurance has signed an agreement with Institute of Company Secretaries of India ( ICSI) to provide an exclusive portal for members, students and employees of…
Irda slaps penalty of Rs 10 lakh on Max Life insurance
Insurance regulator Irda slapped a fine of Rs 10 lakh on Max Life Insurance Co for violating guidelines with regard to payout to a corporate agent.
Apollo Munich targets 25% increase in premium income in current fiscal
Apollo Munich Health Insurance Co Ltd, is targetting a 25 per cent increase in total premium income this fiscal taking it to Rs 775 crore, up from…
New India eyeing growth in health insurance business
The New India Assurance Co. Ltd is optimistic that its share of health insurance will account for 30 per cent of its total business in the next…