LIC wants Axis bank to sell its life products
LIC owns about 15% in Axis Bank, but now it's pushing Axis bank to sell insurance policies through its more than 2,500 branches, testing its existing partnership with Max Life.…
LIC eyes to double policy sales at 4 crore; intends to hire 2 lakh agents
LIC is aiming to double its business in terms of new policy issuance to four crore in the current fiscal and will hire two lakh new agents to augment its…
IRDAI squeezes norms for insurance IPOs
Insurance Regulatory and Development Authority of India (IRDAI) will make certain changes to its guidelines for facilitating insurance companies to go public, according to a top official. Insurers at present…
IRDAI instruct insurers not to depend on banks for selling policies
The insurance regulator has warned life companies against overdependence on banks for selling policies. Banks are now the dominant mode for distributing policies of private insurers, and the share of…
IRDAI asks Universal Sompo General Insurance’s Japanese MD to step down
The Insurance Regulatory & Development Authority of India has ordered Universal Sompo General Insurance Company's managing director Taketoshi Nagaoka to step down immediately due to his foreign origin. IRDAI has…
Insurers may have to lower agent commission for certain products
Insurers may soon have to lower commissions to insurance agents in certain product categories, such as participating products even as they are faced with high agent attrition. Incidentally, to improve…
Companies rope in global travel risk firms
Most companies have mailers sent out by the central travel desk that advise employees on the countries impacted and those where travel is restricted. It also suggests precautions to…
Future Generali eyes 30% growth in rural, micro insurance business
Future Generali is expecting 30 per cent growth in India's rural and micro insurance sector in the current fiscal. "Insurance penetration is a real concern in India today and these…
Mistakes to Avoid While Buying Health Insurance Plans Online
Health insurance is an investment towards a healthier, more secured future. Health insurance plans are formulated to cushion you in case of sudden ailments and accidents. Where some insurance plans involve…
Life Insurance & Married Women’s Property Act (MWP Act) – Details and Benefits
The Married Women’s Property Act aims to protect properties of women from creditors. Under this act, any property/ies belonging to women remains unattached in case the court or income tax…