The Insurance Regulatory and Development Authority has relieved New India Assurance from a large insurance claim of Rs 1,430 crore from Nectar Life Sciences. The pharma company had bought marine…
Pension plans offered by life insurance companies haven't gained momentum compared with the National Pension System (NPS), Employees' Provident Fund (EPF) and other instruments, partly due to lack of liquidity…
Life insurance companies can no longer force claimants into signing a receipt for having received 'full and final payment' as a pre-condition for releasing claim dues. A new directive from…
IRDAI has put a cap of Rs 1.5 crore on the annual salary of Chief Executive, which could be paid from the policyholders' fund. "In case the annual remuneration of…
The Insurance Regulatory and Development Authority of India (IRDAI) has directed life insurance companies not to withhold or delay payment of claims when the policyholder or claimant expresses unwillingness or…
The US-based Liberty Mutual Insurance Group is looking to increase its shareholding in Mumbai-based Liberty Videocon General Insurance to 49 per cent from 26 per cent now, a top official…
According to the IRDAI's annual report for 2014-15, of the total 23 private life insurers, only 11 have a claim-settlement ratio in excess of 90% in terms of number of…
IRDAI has given its first phase of licence to ITI Reinsurance, thus clearing the first ever Indian private sector reinsurance company in the country. The IRDAI board in a meeting…
The insurance regulator has banned life insurers from offering indemnity-based health products, which constitute 90 per cent of the health insurance market, dealing a blow to their business plans. Indemnity-based…
Lloyd's of London chairman John Nelson has said the 325-year old insurance giant can help support the expansion of insurance penetration in India and limit the economic impacts of catastrophes…