Supreme Court – Seize-and-sell order on cars
The Supreme Court has asked all states and Union territories to frame a policy to strictly enforce a law that requires immediate confiscation and eventual sale of vehicles after an…
Focus on customer satisfaction and loyalty: IRDAI Chairman
IRDAI’s chairman urged insurers to focus on customer satisfaction and value addition to products to ensure sustainable growth of the industry. “Insurance entities must provide more value to customers. As…
Life insurers seek separate investment window in income-tax deduction
Life insurance companies have urged the regulator to work out a special investment window for their products. The issue was raised at a recent meeting of the Life Insurance Council…
Government considering talent pool for succession plan in PSU insurance Companies
The government is planning to set up a ‘talent pool’ to deal with the succession planning in the PSU general insurance sector. Finance Ministry officials had recently told insurers that…
Cover for mental ailments still 6 months away
Insurers are working on health policies that will cover mental illnesses, but these could take at least six months to hit the market. Currently, there are no policies that cover…
LIC Mutual Fund to identify investment risks
The mutual fund arm of the LIC will strengthen its internal systems to identify risks associated with investments in the wake of the crisis of IL&FS default. While LIC Mutual…
100% Foreign Direct Investment(FDI) in Insurance Broking in the offing
The Central government is looking at allowing 100% foreign direct investment (FDI) in insurance broking. A committee comprising senior officials from finance ministry and department of industrial policy and promotion…
CARGO LOSS PREVENTION
Introduction A producer or the manufacturer of the goods will always be delighted for safe delivery of the goods to his customer within the stipulated time period. It is easy…
LIC seeks IRDAI approval to keep investment in Tata Sons
Life Insurance Corporation of India (LIC) has sought the sector regulator’s permission to allow the state-run insurer to continue holding an estimated Rs.5,000 crore of Tata Sons’ debt, according to…
Reliance Health Insurance gets final nod from IRDAI
Reliance Health Insurance has received the final go- ahead from the Insurance Regulatory and Development Authority of India (IRDAI) to begin operations. “Reliance Health Insurance, a wholly owned subsidiary of…