PSU general insurers on promotion spree, elevates 21 DGMs to GMs

Last Updated: Sunday, August 9, 2015, 13:52

In their bid to take on rising competition, public sector general insurers have unveiled a succession planning by promoting their young officials to the post of general managers.

CCI imposes Rs 671 crore fine on four state-run insurers

Last Updated: Thursday, July 16, 2015, 20:11

Competition Commission has imposed a penalty of Rs 251.07 crore on New India Assurance, Rs 162.8 crore on National Insurance, Rs 156.62 crore on United India Insurance and Rs 100.56 crore on Oriental Insurance, respectively.

Kin of road mishap victim gets 69.48 lakh compensation

Last Updated: Wednesday, October 9, 2013, 18:38

The family members of a man, who died after being killed in a road accident involving a rashly driven tanker, have been awarded a compensation of nearly Rs 70 lakh by a Motor Accident Claims Tribunal here.

Insurance firm ordered to pay 40,000 to injured man

Last Updated: Monday, March 4, 2013, 23:45

Madras High Court has directed public sector insurance company to grant compensation of Rs 40,000 to man who met with accident while towing broken down mini lorry with his tractor.

Oriental Insurance to pay Rs 60K for partial payment of claim

Last Updated: Tuesday, October 2, 2012, 12:36

Oriental Insurance Co Ltd has been directed by a consumer forum here to pay Rs 60,000 to a policy holder for not fully reimbursing the expenses incurred on his treatment for dengue on the ground of pre-existing disease.

Insurance employees seeks merger of four PSU firms

Last Updated: Saturday, June 16, 2012, 15:19

A section of insurance employees has demanded that four PSU general insurers -- National Insurance, Oriental Insurance, New India Assurance and United India Insurance -- be merged into one to bring down costs.

Sachin Tendulkar buys Rs 100 crore cover for his dream house

Last Updated: Thursday, December 29, 2011, 19:35

Sachin Tendulkar has secured his five-story Bandra residence with a staggering Rs 100 crore insurance cover, one of the biggest insurance deals by an individual.

Finmin asks PSU general insurers to bring down expense ratio

Last Updated: Sunday, September 25, 2011, 14:16

The Finance Ministry has asked public sector general insurance companies to bring down their expense ratio and prune management expenses to improve profit.