UP widow battered to death over insurance money
A 30-year-old woman, who had been resisting attempts by her in-laws to hand them over the insurance corpus she was about to receive for her husband’s death eight months ago,…
ECGC launches enhanced insurance cover for exporters
Export Credit Guarantee Corp. of India (ECGC) introduced a new scheme to provide enhanced export credit risk insurance, amid heightened uncertainties in global trade. The scheme provides enhanced export credit…
Rajasthan tops in health insurance with 88% cover
The highest proportion of households covered under health insurance or financial schemes across the country is in Rajasthan, says the latest data on health insurance coverage - collected in 2019-21…
Health Insurance losses increase in Public Sector Insurance Companies
All four public sector insurers incurred losses of Rs. 26,364 crore in the health insurance portfolio for the last five years due to higher claims in group policies, a CAG…
Insurance regulator tightens anti-money laundering rules
IRDAI has stiffened the anti-money laundering rules as part of consolidation of the guidelines for the sector. The rules issued to consolidate and update guidelines on anti-money laundering replaces the…
IRDAI eases limits for commissions to Insurance Agents
IRDAI provided insurers with more flexibility in paying commission by linking limits to the overall portfolio and company management expenses, according to a report. The utmost commission sanctioned for non-life…
No decision on disclosure of insurance commissions: IRDAI
An IRDAI-appointed committee's proposal to make it mandatory to disclose insurance commissions charged on policies has rekindled an old debate, forcing the regulator to clarify that no decision has been…
IRDAI gives indicative premium growth targets to non-life insurance companies
The IRDAI has prescribed aspirational targets for non-life insurance industry, days after doing the same for life insurance companies. The aim is to increase the general insurance penetration to 2.52…
8 new Insurance Ombudsmen selected
A selection panel of the Ministry of Finance (MoF) has selected eight new Insurance Ombudsmen for various centres across the country. Atul Sahai, former CMD, New India Assurance (NIA) has…
IRDAI permits sophisticated add-ons to motor insurance
IRDAI has permitted general insurance companies to introduce tech-enabled concepts for the Motor Own Damage (OD) cover in order to offer customers usage-based insurance covers as add-ons to the basic…