Rs. 1 lakh insurance cover for Char Dham pilgrims
The Badrinath-Kedarnath Temple Committee (BKTC) announced an insurance cover of Rs 1 lakh to be provided to the devotees in case of death on the temple premises of Char Dham…
PSU banks, insurance cos to help Agniveers
Public sector banks, insurance companies and financial institutions will explore employment opportunities for ‘Agniveers’ in suitable capacities based on their educational qualifications and skills through suitable benefits and relaxations. This…
GIC to turn GIFT City office into a subsidiary to handle foreign operations
General Insurance Corporation (GIC Re) plans to upscale its branch in the International Finance Centre at GIFT City, Ahmedabad into a subsidiary. The corporation had recently decided to shut its…
Edelweiss General Insurance partners NBFC Avanse for student travel insurance
Edelweiss General Insurance (EGI) has partnered with Avanse Financial Services, an education-focused NBFC, to provide student travel insurance to overseas academic aspirants financed by Avanse. EGI’s student travel insurance takes…
Swiss Re GBS India signs MoU with IIRM to enhance capability building programs in India’s insurance industry
Swiss Re signed a memorandum of understanding (MoU) with the Institute of Insurance and Risk Management (IIRM), an organisation dedicated to providing executive education across the financial services sector. The partnership is aimed at catalysing…
Removal of pre-approval for life cover products will push innovation
IRDAI’s decision to do away with pre-approval for launch of life insurance products will go a long way in providing ease of business, innovation in the industry, according to experts.…
IRDAI mulls linking insurance fraud with credit score
IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal,…
IRDAI reduces solvency margin requirement for crop business
IRDAI has reduced the solvency margin requirement for general insurers doing crop business. The decision can free up a capital of Rs 1,400 crore, which IRDAI expects will increase the…
IRDAI working group suggests relaxing investment norms for insurers
A panel formed to suggest overhaul of the general insurance industry has recommended that insurers relax investment rules, such as permitting investment in Additional Tier-1 (AT-1) bonds of banks, removing…
IRDAI weighs allowing loans to buy insurance
IRDAI is examining a proposal that may allow customers, both retail and corporate, to take loans for buying an insurance and spread premium payment over longer duration. Known as premium…