IRDAI wants insurers to stick to grievance redressal norms

Last Updated: Sunday, April 26, 2015, 14:10

IRDAI feels that this is giving rise to "aggravated customer dissatisfaction and escalation of complaints to higher authorities".

ONGC renews insurance 35% cheaper from United India for $20 mn

Last Updated: Monday, March 30, 2015, 21:42

Energy major ONGC has driven a hard bargain to renew its insurance and re-insurance covers, at USD 20 million -- a discount of 35 percent -- for its offshore assets valued at USD 34 billion from state-run United India Insurance and two global re-insurers.

Insurer cannot refuse third party insurance: IRDAI

Last Updated: Thursday, March 19, 2015, 22:11

The Insurance Regulatory and Development Authority of India (IRDAI) Thursday said that no insurer can refuse to underwrite third party insurance.

After Llyod's, many other reinsurers keen to start operations in India

Last Updated: Tuesday, March 17, 2015, 12:53

The move is expected to stimulate the insurance sector and help bring in over Rs 50,000 crore in fresh capital, according to experts.

US biz body hails passage of Insurance Bill in India

Last Updated: Friday, March 13, 2015, 07:08

A leading business body in the US has hailed passage of the Insurance Laws (Amendment) Bill in India that raises the FDI cap to 49 percent, saying such a legislation would promote investment, create jobs and increase financial stability.

Financial stocks gain on insurance bill hopes

Last Updated: Thursday, March 12, 2015, 13:07

Hopes of increase in insurance FDI today pushed the share prices higher for the companies with interest in the insurance sector, with Max India leading the charts with over 11 percent gains.

Insurance Bill to be taken up in Rajya Sabha today

Last Updated: Thursday, March 12, 2015, 09:32

Formally called the Insurance Laws (Amendment) Bill, it seeks to replace an ordinance that was promulgated earlier.

Insurance penetration in India at 3.9%, below world average

Last Updated: Tuesday, March 10, 2015, 18:36

Insurance penetration in India at 3.9 percent was below the world average of 6.3 percent in 2013, Parliament was informed Tuesday.

Insurance Bill gets Lok Sabha nod; set to face hurdles in Rajya Sabha

Last Updated: Wednesday, March 4, 2015, 18:56

The controversial Insurance Bill, a key reform legislation, Wednesday cleared the Lok Sabha hurdle easily but the problem of numbers in Rajya Sabha prompted the government to say that it will convene Joint Session if it is defeated in the Upper House.

Lok Sabha passes Insurance Bill to replace Ordinance

Last Updated: Wednesday, March 4, 2015, 18:07

Lok Sabha on Wednesday passed the Insurance Bill to replace an ordinance in this regard.

Insurance Bill introduced in Lok Sabha amid opposition

Last Updated: Tuesday, March 3, 2015, 15:28

A key economic reform bill, providing for raising the FDI cap in insurance sector to 49 percent, was introduced in Lok Sabha Tuesday amid stiff opposition by Left and TMC.

'FDI insurance rules could have been simpler'

Last Updated: Saturday, February 21, 2015, 12:11

The Indian government seems to have overstepped its boundary on extending foreign direct investment (FDI) limits for insurance intermediaries, industry experts say.