Non-Life insurance cos unlikely to hit IPO street soon: GIC

Last Updated: Friday, January 18, 2013, 18:21

Non-life insurers are unlikely to hit the capital market to raise resources and are expected to wait for a year or two because of weak financials, a top official of an insurance company said on Friday.

NIC for Rs 1500 cr provisioning on motor pool, aims 20% growth

Last Updated: Tuesday, December 18, 2012, 15:03

Motor policies accounted for more than 45 percent of the total general insurance premium of Rs 5500 crore collected during 2011-12.

LIC reduces exposure to financial, consumer & cement cos in Q2

Last Updated: Sunday, November 11, 2012, 11:07

Life Insurance Company (LIC), a major domestic institutional investor, offloaded shares worth over Rs 7,020 crore (USD 1.3 billion) in companies related to financial, consumer and cement sectors in the July-September quarter this year, says a research report.

No cover notes, no impact on vehicle owners

Last Updated: Sunday, November 4, 2012, 00:17

"The government directive will not affect customers as we have stopped issuance of cover notes (temporary policy document issued till the policy is made ready) in a major way long back. The facility is offered only for selected customers based on their past experience," said a senior official of the United India Insurance Company Ltd, who requested anonymity.

No cover notes, no impact on vehicle owners

Last Updated: Sunday, November 4, 2012, 00:17

"The government directive will not affect customers as we have stopped issuance of cover notes (temporary policy document issued till the policy is made ready) in a major way long back. The facility is offered only for selected customers based on their past experience," said a senior official of the United India Insurance Company Ltd, who requested anonymity.

Insurer can`t compensate if victim responsible for mishap: HC

Last Updated: Monday, October 29, 2012, 16:41

An insurance company cannot be held liable to compensate a road mishap victim or his family if the accident takes place because of his negligence.

'Insurance policy mis-selling among top complaints'

Last Updated: Tuesday, October 9, 2012, 19:57

Mis-selling of insurance policies and delay in claim settlements top the list of 2,341 complaints lodged by aggrieved customers with the Chandigarh Insurance Ombudsman.

L&T General Insurance incurs Rs 106-cr loss in FY'12

Last Updated: Wednesday, August 29, 2012, 19:03

LTGI, a wholly-owned subsidiary of engineering major Larsen & Toubro, had received the regulatory approval to operate as a general insurer in July, 2010. It commenced operations in October that year.

L&T General Insurance incurs Rs 106-cr loss in FY'12

Last Updated: Wednesday, August 29, 2012, 19:03

LTGI, a wholly-owned subsidiary of engineering major Larsen & Toubro, had received the regulatory approval to operate as a general insurer in July, 2010. It commenced operations in October that year.

Vehicle insurance via cellphone launched

Last Updated: Tuesday, August 28, 2012, 15:34

City-based Cholamandalam M.S. General Insurance Company Ltd. has announced the launch of 'Policy on the Go' for issuing vehicle insurance policies.

NPS throws great opportunity for insurers: PFRDA

Last Updated: Monday, August 6, 2012, 23:04

Despite the National Pension System (NPS) throwing up a large opportunity to life insurers, there are not enough players in the system to take advantage of this, the pension fund regulator PFRDA Monday said.

Insurance Co can't go back on policy once its issued

Last Updated: Friday, July 27, 2012, 18:05

Once an insurance company has issued a policy, it cannot later reject the insured person's claim on the ground that cover was given in violation of terms and conditions, the Delhi State Consumer Commission has ruled.