PSU non-life insurance unions demands EY restructuring report
The employee unions in the public sector general insurance companies have reiterated their demand for a copy of the Ernst & Young (EY) report on the restructuring of the four…
Future Generali India Insurance launches comprehensive health insurance product
Future Generali India launched a comprehensive health insurance product - FG Health Absolute. This latest health insurance offering is designed towards empowering customers to actively manage their health and leading…
IRDAI: Health sector, insurance require parallel investments
Insurers need to work together with hospitals, and investors in health insurance should also put money in healthcare when value-added services are allowed, IRDAI has said. This was needed to…
IRDAI proposes to make issue of insurance policies in demat form mandatory
Insurance regulator has proposed mandatory issuance of all insurance policies in electronic form. A senior insurance executive confirmed the development and said that this will be done through Insurance Repository…
IRDAI reduces number of returns to be filed by insurers for health insurance
In order to further cut compliance burden for insurance companies, regulator IRDAI rationalised health insurance business returns reporting norm by reducing the number of returns that need to be filed…
IRDAI plans to dematerialise all Insurance policies
IRDAI has mandated dematerialisation of new insurance policies by this year-end. It has urged all insurance companies to dematerialise their existing or old policies by December-end, industry experts have said.…
Proposed 20% cap on agent commission could boost insurance industry
IRDAI proposal to put a lower cap of 20% on commissions and remunerations paid to agents and intermediaries under both life and non-life products could lead to faster growth of…
Finance ministry mulls changes in laws to boost insurance penetration in India
The finance ministry is contemplating changes in insurance laws, including reduction in minimum capital requirement, with a view to increasing the insurance penetration in the country. Insurance penetration in India…
Government mulls SFIO-like agency to investigate insurance frauds
The government is considering creating a Serious Fraud Investigation Office (SFIO)-like independent agency for the insurance sector to probe cases of fraud. For the purpose, work is in progress to…
Go Digit Insurance files red herring prospectus for Rs. 5000 crore IPO
Go Digit, the general insurer backed by Canada’s Fairfax, has filed its draft red herring prospectus (DRHP) to raise around Rs 5,000 crore through an initial public offering (IPO) that…