IRDAI keeps obligatory cession at 5% to GIC Re
IRDAI has maintained the obligatory cession of each general insurance policy that is to be reinsured with an Indian firm at 5 per cent for FY21. "The percentage cession of…
Crop insurance to cover damage by wild animals
Farmers facing damage to their crops due to attack by wild animals can now file for claim under the central flagship crop insurance scheme. The participating states will have to…
The 17th Annual Insurance Brokers’ Summit underlined the role of brokers as representatives of their customers to help them get the right product at optimum cost.
New Delhi, January 29, 2021: The Insurance Brokers Association of India (IBAI), the apex body of licensed insurance brokers, at its 17th Annual Insurance Brokers’ Summit today, emphasized the role…
Over 50% vehicles on Indian road uninsured – Insurance Information Bureau
More than half the vehicles on the road in India are running without any insurance cover - a mandatory provision under the Motor Vehicles Act. Nearly 57 per cent of…
Central Government moots Covid cover for foreign tourists
Foreign tourists visiting India may be offered attractively priced Covid-19 insurance covers as a part of the tourism ministry's plans to revive the sector. Over 10.9 million foreign tourists visited…
General insurers see 2.7% growth in November premiums
General insurers have reported a 2.7 per cent year on year (yoy) growth in gross direct premium underwritten in November after witnessing a marginal decline in premium collection in October.…
Aon buys 49% in Catamaran-owned Insurance Broker
Aon, is re-entering insurance broking in India with acquisition of 49% stake in Catamaran-owned insurance broker - Anviti Insurance Brokers. The deal is subject to regulatory approvals. Speaking on the…
Deaths due to parked vehicles doubled in last 3 years
The number of persons killed due to collisions with parked vehicles on roads in Delhi has more than doubled in the past three years - from 2,317 in 2017 to…
Muthoot Finance ties up with Bajaj Allianz
Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative, Muthoot Gold Shield. The policy provides insurance coverage…
Farmers in Maharashtra opt out of rabi crop cover
Farmers across 10 districts of Maharashtra may not be able to avail crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY) this rabi season, as none of the…