INSURERS

Out of the 32 general insurance companies which do health insurance business in India, there are only four public sector general insurance companies: The New India Assurance Company Limited (NIACL),…

Industry figures for November 2023 indicate that standalone health insurers have been significant drivers of growth in the non-life insurance sector. According to flash figures released by the General Insurance…

Private General insurers increased their combined market share to 53.58 per cent in gross direct premium underwritten in the first half of the current financial year from 50.81 per cent…

The insurance industry, once rooted in tradition, finds itself at a pivotal juncture. As technological advancements surge and consumer demands evolve, a metamorphosis is underway. Traditional insurers, realizing the necessity…

According to industry statistics from November 2023, stand-alone health insurers have significantly fueled the expansion of the non-life insurance market. In the eight months that concluded in November 2023, the…

Based on the advice of the Regulation Review Committee (RRC), IRDAI has produced an exposure draft on the Expenses of Management (EoM) that includes a commission for both life and…

In order to guarantee adherence to the Motor Vehicles Act, the Department of Financial Services invited private sector general insurance companies to work with state governments and the Ministry of…

To make the surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditors in…

The insurance industry has proposed that uninsured vehicles should not be allowed to refuel at oil pumps, looking to raise penetration of automobile insurance, industry executives familiar with the development…

Insurance companies are grappling with the design, pricing and operational modalities of offering health cover for mental illness, disabilities and HIV after the IRDAI’s February 27 circular. As it is…