Insurers can’t reject an insurance claim on grounds of delay
Insurers can't reject an insurance claim on grounds of delay alone. On 4 October, the Supreme Court ruled in favour of a truck owner whose truck was stolen in 2010.…
LIC would be India’s most valued firm if listed: Arun Jaitley
Union Finance Minister Arun Jaitley said the Life Insurance Corporation of India (LIC) would have been the most-valued company in the country if it was listed. "If you were a…
Insurance arms of ICICI and HDFC seek to raise $1 billion
Two of India's leading private-sector insurers are looking to raise over $1 billion this financial year in the sector's first initial public offerings (IPOs), as insurance companies' rush to take…
Life Insurers’ New Premium up 27% in May
The new premium collected by life insurers rose by 26.6 per cent in May to Rs 10,610.10 crore. The insurers had collected new premium of Rs 8,382.67 crore in the…
IRDAI issues fresh corporate governance guidelines
IRDAI has released comprehensive corporate governance guidelines, including a cap on salary of CEOS and policy on whistle blowers. The revised guidelines, which came against the backdrop of changes in…
After MFs, Insurance Cos to disclose pay of MD, CEO
Close on the heels of mutual funds (MFs) disclosing remuneration of its top executives following a directive from SEBI, insurance companies have also been asked to provide information on executive…
LIC Chairman S K Roy resigns before term ends
S.K. Roy, the head of Life Insurance Corp (LIC), the biggest single investor in the country, has tendered his resignation two years before his term was due to end. Roy…
Insurers may have to lower agent commission for certain products
Insurers may soon have to lower commissions to insurance agents in certain product categories, such as participating products even as they are faced with high agent attrition. Incidentally, to improve…
HEALTHY GROWTH OF HEALTH INSURANCE
Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance premium is likely to cross Rs 32,038 crore by 2016-17, from Rs 15,701 crore recorded…
LEARNING & COMPETENCY DEVELOPMENT IN INSURANCE
Introduction A learning management strategy is key to an organizations liability to deliver focused and efficient Learning and development plans in the insurance sector if looking forward and steps…