Refrain from paying dividend for FY20, IRDAI tells insurers
Chennai, April 24 (IANS) Listed and unlisted insurers – life, non-life and reinsurers – have been asked by the sectoral regulator to refrain from making...
insurers
Govt allows 29 insurers to do Aadhaar authentication
Chennai, April 24 (IANS) The central government has notified 29 insurers – life and non-life – to undertake Aadhaar authentication services, said a senior industry...
‘COVID-19 not a catastrophic loss for non-life insurers’
Chennai, April 21 (IANS) The number of COVID-19 claims lodged with the non-life insurance companies are increasing only in arithmetical progression, said a senior insurance...
General insurers close FY20 with 11% growth, March business down
Chennai, April 14 (IANS) Despite the dip of Rs 1,888 crore in business last month over corresponding period of the previous year, the Indian non-life...
US car insurers refund drivers stuck at home
Washington, April 7 (IANS) Car insurers in the US were refunding millions of dollars to customers stuck at home during the ongoing coronavirus lockdowns, said...
Non-life insurers surprised over fall in emergency claims
Chennai, April 3 (IANS) Non-life insurers are surprised to see a drastic reduction in reporting of emergency admissions/operations and related claims and wonder whether the...
IRDA asks Insurers to settle claims related to COVID-19
New Delhi, March 11 (IANS) Regulator IRDAI has asked insurers to settle all claims related to coronavirus expeditiously under existing health policies that provide for...
IRDA may have strict rules for life insurers on health cover
New Delhi, March 5 (IANS) Life Insurance companies may soon get permission to offer indemnity-based health insurance products but such permission would be with stringent...
‘Global insurers to feel COVID-19 impact via market volatility’
New Delhi, March 3 (IANS) Global insurers and reinsurers are exposed to the coronavirus (COVID-19) outbreak directly through a potential spike in claims, and indirectly...
Delhi violence: PMO calls meet with insurers for quick, hassle-free settlements
New Delhi, March 2 (IANS) The Prime Minister’s Office has called a meeting with the state insurers on quick and hassle-free settlement of the claims...
Insurers in a spot as Kerala prescribes minimum wages for agents
Chennai, Feb 5 (IANS) The Kerala government’s gazette notification on minimum wages for employees of private financial institutions has put the insurance companies in a...
Three PSU general insurers to get Rs 6,950 cr capital
Chennai, Feb 1 (IANS) The Budget 2020 has allocated Rs 6,950 crore towards recapitalisation of three public sector general insurers so that they can meet...
Burning costs to cool combined ratio for general insurers
Chennai, Jan 31 (IANS) With the combined ratio for motor vehicle damage or own damage business line crossing 100 per cent for Indian general insurers...
Non-life insurers can offer standard health policies before April 1
Chennai, Jan 25 (IANS) Indian insurance regulator has permitted non-life insurers to sell the standardized health insurance policy prior to April 1, 2020. In a...
Bankers, insurers to go on strike on January 8
Chennai, Dec 20 (IANS) Major unions in the Indian banking sector have decided to participate in the National General Strike called by central trade unions...
‘Rs 2,500 cr recap for PSU insurers pre-merger may be insufficient’
New Delhi, Dec 2 (IANS) The Finance Ministry will recapitalise the state-run general insurance companies ahead of taking further steps in their mergers to shore...
Pension funds, insurers pledge carbon neutrality by 2050
New York, Sep 23 (IANS) In one of the boldest actions yet by the world’s largest investors to decarbonise the global economy, an alliance of...
Irdai to review Motor Third Party obligations on insurers
New Delhi, Aug 29 (IANS) A working group set up by insurance regulator Irdai will look at reviewing the regulations on formulae of current Motor...
Merger plans of state-run general insurers progressing
New Delhi, July 31 (IANS) Discussions on the merger of three state-run general insurance companies are progressing but no time-frame can be given at this...
After banks, govt may recapitalise PSU insurers prior to restructuring
New Delhi, July 10 (IANS) After banks, the government may capitalise public sector general insurers this year to improve their finances and get them ready...