India's insurance industry will need to infuse Rs 50,000 crore of capital every year in order to double penetration in the country, IRDAIchairman Debasish Panda said. He also implored corporate…
In order to conduct reinsurance arrangements with Global reinsurers, which do not have an office in India (called "Cross border Reinsurers or CBR"), the IRDAI (Reinsurance) Regulations 2018 specifies the…
Sale of health insurance policies in semi-urban and rural markets is increasing with private insurers seeing a spike in the number of people opting for such covers. Rising cost of…
For the general insurance industry, 2022 was a year of regulatory changes, innovation and the rise of insurtech and health-based intermediaries. Going into 2023, the focus will be on growth…
Reduction of GST on health cover to 5 percent, hike in 80D limit and tweaking of norms on pension/annuity products to make them more attractive to people top the wishlist…
India’s uninsured population could get cover at Rs 2,000 for a sum insured of Rs 5 lakh if universal health insurance were to be introduced in line with the schemes…
The Covid pandemic brought with it greater awareness regarding the need for health insurance boosting business for such insurers in 2022 even as they battled higher claims, technological disruptions and…
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income…
Gadkari recently launched India’s first surety bond insurance product for highway contractors, from Bajaj Allianz Insurance. Seeking rapid growth for the product, Gadkari said he would approach the finance ministry…
Many rich Indians, some belonging to the community of diamantaires, are under probe by the income tax department for holding foreign life insurance policies running into millions of dollars. Most…