Hotel Leela defaults on LIC payment
Cash-strapped hospitality chain Hotel Leela venture has defaulted in payment of quarterly interest of Rs. 2.12 crore, which was due on September 19 to Life Insurance Corporation of India. Hotel…
Hero’s insurance arm gets broking licence
Hero Insurance Broking India Pvt Ltd, part of Hero Enterprise, has received a three-year licence from the Insurance Regulatory and Development Authority of India (IRDAI). The broking entity has commenced…
Western Zone of LIC to expand agency force
LIC’s Western Zonal office plans to expand its agency force of 2.06 lakh agents by 50 per cent this year. That would mean about a lakh of agents are to…
General Insurance to file appeal in Supreme Court for PUC Certificate
General insurers are planning to file a petition in the Supreme Court challenging an order that has made it compulsory for vehicles to have‘ pollution under control’ (PUC) certificate to…
High treatment cost spurs demand for higher coverage
The steep rise in the cost of treatment and growing awareness have led to an increase in the average sum insured under retail health insurance policies. The average sum insured,…
Life insurance sector sees 7% rise in premium
Life insurance industry saw its annualised premium equivalent (APE) at 7% year-on-year for the first six months of the current financial year. While private players witnessed higher growth at 13%,…
Insurance Company cannot deny claims without proof
Premjeet Sharma had taken an ‘Easy Health Insurance Policy’ from Apollo Munich Health Insurance for his parents. The policy, which commenced from December 12, 2010, was renewed regularly. A premium…
Interview with Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance
How Bajaj Allianz General Insurance has adopted new technology to provide better underwriting and claims servicing to customers As a company we strongly believe in digitalization for enhancing the customer…
e-Way bill to exhibit details of vehicle fitness, PUC, insurance
The e-Way bill, which currently gives only details of the value of goods being transported, may be packed with more data — for instance, on the vehicle’s fitness, insurance paid…
Bimtech and RIMS sign an MOU to foster Risk Management culture in India
[caption id="attachment_8267" align="aligncenter" width="1024"] Seen in the picture Ms. Mary Roth, CEO, RIMS, Prof. (Dr.) Anupam Verma Deputy Director, BIMTECH, and Prof. (Dr.) Abhijit Chattoraj, Chairprofessor-IBM, BIMTECH[/caption] Birla Institute…