HC notice to 25 insurance cos on PIL asking pre-packaged rates

Last Updated: Tuesday, October 22, 2013, 19:42

The Bombay High Court Tuesday issued notices to 25 non-life insurance companies on a PIL seeking pre-packaged compensation for 42 ailments, covered under medical insurance policies, on the basis of sum insured and on the type of the hospital.

Insurance biz in India may touch Rs 4 lakh cr in FY14: IRDA

Last Updated: Tuesday, October 8, 2013, 17:40

Insurance watchdog IRDA Tuesday said it estimates the insurance business in India to touch Rs 4 lakh crore in the current fiscal.

Private insurers cut down on branches; LIC ups the ante

Last Updated: Sunday, September 15, 2013, 13:50

The number of branches operated by life insurers across India has come down by over 10 percent in the last two years, primarily because of branch closures by private players even as state-run LIC expanded its footprint.

Customer complaints rise against insurers by over 10%

Last Updated: Sunday, September 1, 2013, 17:44

Customer complaints against life insurance companies rose by nearly 10 percent to over 3.41 lakh in the last fiscal, with state-run LIC and private players like Birla Sunlife and Bajaj Allianz accounting for a large portion of grievances.

Volatile bond market may have minimal impact on GI cos' income

Last Updated: Sunday, August 25, 2013, 18:12

The volatile bond market will have a minimal impact on the investment income of general insurance players as most of them are likely to settle claims from incremental cash flows rather than redeeming bonds, say industry players.

IRDA for banks selling products of multiple insurers

Last Updated: Wednesday, July 10, 2013, 16:08

Insurance regulator IRDA on Wednesday indicated favouring banks to sell products of multiple insurance companies as the move would help deepen insurance penetration in the country.

Is higher FDI limit in insurance a threat for public sector insurers?

Last Updated: Friday, July 5, 2013, 12:47

The massive potential in the Indian life and non-life insurance sector has encouraged large private financial services companies to form joint ventures with global insurers.

1 in 3 insurance companies feel ill-prepared to face emerging trends

Last Updated: Wednesday, June 26, 2013, 15:28

Meanwhile, 33 percent of insurance companies think they are ill-prepared to handle workforce challenges around talent attraction and retention.

Fraudsters dupe customers of 4 insurance companies

Last Updated: Sunday, May 12, 2013, 14:38

After ICICI Prudential, fraudsters have now targeted four insurance companies, including SBI Life Insurance, by stealing their customer database and duping some policy holders.

IRDA probing money laundering allegations against insurers

Last Updated: Monday, May 6, 2013, 20:32

Insurance regulator IRDA Monday said it is examining the allegations of money laundering levelled against LIC, Reliance Life, Tata AIA and Birla Sunlife and action will be taken against the guilty at the earliest.

Irda report on money laundering by insurance cos likely next week

Last Updated: Friday, April 12, 2013, 18:47

Insurance regulator Irda Friday said it is likely to finalise report by next week on the allegations of money laundering by three companies - HDFC Life, ICICI Prudential Life and Max Life - following and expose by Cobarapost.