Hearing on SBI Life vs Irdai adjourned
The Securities Appellate Tribunal (SAT) has adjourned an appeal against the IRDAI in a hearing between SBI Life and the Insurance Regulatory and Development Authority of India (IRDAI). The…
Equity investments be called approved investments: IRDAI
The Insurance Regulatory and Development authority of India (IRDAI), in its new draft on investments, said that the equity investments in CNX 200 or BSE 200 can only be considered…
Agriculture insurance coverage needs to improve: RBI
The insurance coverage in the agriculture sector needs to be enhanced to protect the interest of farmers as well as banks lending to this sector, as per the Financial Stability…
GIC profit scales high to 20% in 2014-15
State owned re-insurer General Insurance Corporation Re (GIC) has announced a profit of Rs.2,693 crore to 2014-15, an increase of 20 per cent over the previous year. Gross premium rose…
DFS paves way for $3 bn inflow into insurance
The Department of Financial Services (DFS) has given the green signal to Kotak Mahindra Bank's proposal to increase the foreign investment limit in the bank to 55 per cent from…
XBRL: An Important Tool for Insurance Underwriting
Insurance is necessary for protection against future financial loss from injury, illness, property damage, or liability for the losses of others. Insurance companies receive proposals for insurance coverage. They evaluate…
Review of the draft “Road Transport and Safety Bill, 2014”
1-Introduction On 13/09/2014, Ministry of Road Transport and Highways, Government of India, uploaded the draft "Road Transport and Safety Bill, 2014 on its website inviting response from the public…
Insurers appeal NDMA for new building code
Non-life insurers, along with the Insurance Regulatory and Development Authority (Irda), will soon make a representation before the National Disaster Management Authority (NDMA), asking that earthquake-resistant construction codes be made…
West Bengal leads in Rashtriya Swasthya Bima Yojana
West Bengal has turned out to be the best performer in the Rashtriya Swasthya Bima Yojana (RSBY).Chief minister Mamata Banerjee has tweeted that Bengal has the highest number of active…
LIC commits Rs. 1.5 lakh cr investment in Railways
Life Insurance Corporation had committed to invest Rs 1.5 lakh crore in Indian railways over the next five years. As per the terms of the MOU inked by the two…