Auto unions protest over IRDA’s vehicle premium rates
The decision of Insurance Regulatory and Development Authority of India (IRDA) to affect minimum decrease in the third party insurance premium for their category of vehicles does not seem to…
Premium rates of vehicles increases by 41%
The Insurance Regulatory and Development Authority of India (IRDAI) has increased rates by up to 41 per cent across various categories of vehicles. The quantum of increase varies widely…
LIC Jamshedpur division stands 1st in regular premium growth rate
Life Insurance Corporation of India’s Jamshedpur Division has achieved No.1 rank in the country in regular premium growth rate with robust increase of 22.50 per cent in 2016-17. The division…
LIC to hire retired bankers for managing NPAs
LIC will soon obtain services of retired bankers to strengthen its lending operations and ensure that non-performing assets (NPAs) are kept at the minimum. LIC has set up a cell…
Public Sector Banks to get cyber insurance policies
Public sector banks, which are considered straggler in the digital space, are pulling up their socks in cyber insurance. Many commercial banks are rushing to buy insurance for threats such as hacking,…
Niti Aayog to use upgraded techs for crop insurance
A task force on the use of technology for agriculture insurance, set up by Niti Aayog, has suggested the use of technologies such as dedicated satellites, mobiles and global positioning system…
Automation will bring revolution in insurance
The inaugural edition of InsurTech Integrated, convened by leading financial intelligence platform Middle East Global Advisors, will gravitate around the theme of “Harnessing disruptive technologies to thrive in a digital…
New India Assurance bags RIL’s Rs. 500-cr combined cover
New India Assurance has bagged a Rs 500—crore combined cover from Reliance Industries for its onshore and offshore assets for the next financial year, according to industry sources. At…
Insurers to ensure data protection
Insurance firms will have to mandatorily appoint a chief information security officer whose main job would be ensuring data protection. This is part of sector regulator Insurance Regulatory and…