LIC’s market share declines for 5th consecutive year
Private players are seemed to give tough competition to the insurance giant of India, LIC as they are using new-age digital marketing technologies. As per the latest data from IRDAI,…
Mr. B.D. Banerjee joins the Board of Royal Sundaram General Insurance Co. Limited, Chennai as an Independent Director (Non-Executive)
Mr. B.D.Banerjee has been recently inducted on the Board of Directors of Royal Sundaram General Insurance Company, Chennai, as an Independent Director (Non-Executive). Insurance Times wishes him well and firmly…
RISK MANAGEMENT OF AOG PERILS: RISKS Through ‘CRESTA’ AND ‘CAT MODELS’ By ALL RISK CARRIERS
Acts of God Perils: SEISMIC and WEATHER Perils are usually made INSURABLE through REINSURABILITY as Nat-Cat Events involve enormous accumulations of Liabilities in Natural Catastrophe Prone Zones in various countries…
IRDAI asks Axis to bring fare value deal to buy more Max Life stake
IRDAI has asked Axis Bank to rework its proposal for buying an additional 10% in Max Life Insurance, as informed by the inside sources. The IRDAI has asked the Axis…
Oil shipment insurance cost increases after Middle East tanker attacks
The rapid increase of insuring cost of West Asian oil shipments after Middle East Tanker attacks has become a major concern on a region responsible for about a third of…
GEICO, Jewelers Mutual launch jewellery insurance policy
In collaboration with Jewelers Mutual Insurance Group, GEICO (Government Employees Insurance Company), the second-largest auto insurer in the US, has launched a standalone jewellery insurance policy for customers. The plan…
Aviva Life Insurance brings ‘Aviva Income Suraksha’ for defence personnel
Aviva Life Insurance has recently introduced 'Aviva Income Suraksha', which is a non-participating traditional retirement plan, designed keeping the defence forces in mind. As per the insurer, the product provides…
Citigroup extends health coverage to live-in partners, LGBT employees
In a bid to take more inclusive employee policy, Citigroup Inc has taken the initiative to extend its health insurance coverage all domestic partners, including live-in partners and LGBT partners…
SC refuses to hear PIL against LIC’s Jeevan Saral policy
The Supreme Court has recently declined to hear an organisation's plea which alleged that the LIC cheated lakhs of its consumers through its 'Jeevan Saral' insurance policy. A division bench…
100% FDI in insurance intermediaries
The government has proposed a 100% foreign direct investment (FDI) in the insurance intermediaries, i.e., broking farms from the present level of 49% in the Budget. Meanwhile, the government has…