Research reactors not eligible for nuclear insurance pool
It has been recently revealed that the India's research reactors will not be covered under the newly setup nuclear insurance pool as they are owned by the union government. "The…
DD, AIR to publicize claim settlement of PM’s insurance schemes
The finance ministry is seeking wide publicity for the claim settlement procedures under the two insurance schemes announced by the Prime Minister in May. The idea is to highlight…
Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so in a country like India. On one hand, loose regulations can result in fraud or…
UNDERSTANDING OF RISK MANAGEMENT PROCESSES APPLICABLE TO INDIAN LIFE INSURANCE SECTOR
1. Introduction: First of all we need to look at the how Risk Management Module presently involved in the processes presently functioning &/or adapted by Indian Life Insurance companies at…
Indian Life Insurance Industry: Promoting Innovation & Creativity for Growth & Development
The Indian life insurance industry, which was liberalized in 1999, allowing private sector players in the business, has grown at a phenomenal pace since its liberalization. The sector experienced a…
Insurer Aetna to acquire Humana Inc
Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in cash and stock, in the largest ever deal in the insurance industry. The combination will…
LIC investments of Rs.10K cr under close watch
Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner for alleged nexus between top company officials and brokers for making gains at the expense of…
New amendments makes rejections to claims tight: LIC Chief
Life insurance companies will find it almost impossible to reject claims in future because of an amendment to Section 45 of the Insurance Act that allowed companies to call…
All investment decisions routed after due diligence: SK Roy
Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages assets worth Rs.17 lakh crore is set to regain the 75 per cent market…
Future Generali penalized for Rs.50 lakh
The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against 34 charges on a variety of aspects related to business. It has…