No steep premium hike for health policies: IRDAI
IRDAI has recently ruled out a steep hike in premium of health insurance policies amid reports of a rapid rise in claims by policyholders. It said that a health regulator…
Reliance General offering 5% discount on premium to COVID-19 vaccinated customers
Reliance General Insurance has recently said that it will offer a one-time 5% discount on buying or renewing insurance cover to those customers who have taken the COVID-19 vaccines. The…
Health business drives up general insurers’ gross premium in FY21
India's general insurance industry posted an increase of 5% in gross premium to Rs. 1,987 billion ($26.5 billion) in the financial year ended March 31, 2021.The growth was due to…
Life insurance industry sees 7.5% rise in 1st year premium
According to the data revealed by IRDAI, despite the second wave of COVID-19, the first-year premium (FYP) of life insurance players rose by 7.5% in 2020-21 at Rs. 2.78 lakh…
LIC collects highest-ever premium of Rs. 1.84 trillion in FY21
Life Insurance Corporation of India has recently said that it has collected highest-ever first year premium of Rs. 1.84 trillion for fiscal year ending March, 2021. The corporation continued its…
ICICI Prudential Life’s new biz premium up 23% in Q4
ICICI Prudential Life has recently reported a 23% development in its new enterprise premium, a key metric for insurance coverage firms, as it had report coverage gross sales in March…
InsuranceDekho set to garner Rs. 1,200 crore in premium in FY21
Online insurance aggregator InsuranceDekho is expected to have garnered Rs. 1,200 crore in insurance premium through its platform during the financial year ended March, 2021. The company, which mainly caters…
Scrappage policy may lower car insurance premium
Older vehicles are not only more hazardous but also carry a greater risk of breakdowns and accidents. They also lead to more pollution. The scrappage policy aims at taking old…
CURRENT SCENARIO AND CHALLENGES OF INSURANCE BUSINESS IN INDIA
ABSTRACT Indian economy is in transition over the last ten years, owing to the initiation of major economic reforms affecting almost all sectors. The paradigm shift from a mixed economic…
PERSONAL ACCIDENT PLANS
Premium Plan Sum Insured : 5 lacs – 5 crores + Accidental death + Permanent total disablement + Permanent partial disablement + Emergency ambulance + Family transportation + Transportation…