Insurance Act

Among the key proposals is raising the FDI limit in insurance companies from the current 74 percent to 100 percent, which is expected to attract global players and increase competition in the market.

Govt considers allowing general insurers to offer related services: Report

The proposed changes to the Insurance Act aim to enable insurers to diversify their product offerings and enhance the value of their distribution operations.

HDFC Life, Max Life submit first set of arguments to IRDA: Srcs

Max Group and HDFC Life are in the process of sending their first set of arguments with repsect to the concerns, the Insurance Regulatory and Development Authority (IRDA) had raised on the merger model between the two companies, reports CNBC-TV18.

Aditya Birla firm registered as 6th player in health insurance

The newest health insurance is promoted as joint venture of Aditya Birla Financial Services Limited (ABFSL) of India and MMI Strategic Investments (Pty) Limited (MMI) of South Africa.

How nomination affects property inheritance

The reply to a question raised in the Indian parliament revealed that deposits worth Rs 5,124.98 crores were lying unclaimed for 10 years or more, with scheduled banks. This is a huge amount, considering &#82

IRDAI warns Sahara India Life Insurance on non-compliance

Insurance regulator IRDAI has warned Sahara India Life Insurance Co for non compliance of 'Expenses of Management' (EoM) norms, and asked it to bring the expenditure levels within the limits by 2016-17-end

Here is how Insurance Act protects policyholders‘ interests

Various provisions of insurance act ensure that the interests of the policyholders are not compromised in any situation, even if insurance company becomes insolvent.

Insurance ind welcomes new law freeing agency commission

The new insurance law recognises the Life Insurance Council as a self-regulating body and empowers it to frame bye-laws for elections, meetings and levy and collect fees from its members.

Insurance Bill introduced in LS amid opposition

The Insurance Laws (Amendment) bill, 2015, seeks to replace an ordinance issued by the government earlier, which had come under sharp attack from various quarters. The bill seeks to amend the Insurance Act, 1938 and the General Insurance Business (Nationalisation) Act 1972 and the Insurance Regulatory and Development Authority Act, 1999.

FM hopeful of insurance mkt expansion once Bill is passed

Finance Minister Arun Jaitley said that he was hopeful that the insurance market expansion would take place once the Insurance Amendment Bill is passed by Parliament.

RS extends deadline for Select Committee on Insurance Bill

The Select Committee of Parliament on amending the Insurance Act to raise foreign investment cap was Tuesday given two more weeks till December 12 to submit its report, but not before Opposition parties raised questions over the procedure for seeking extension of the timeline.

IRDA slaps Rs 5-lakh fine on Bajaj Allianz Life

Insurance sector watchdog IRDA today has imposed a fine of Rs 5 lakh on Bajaj Allianz Life Insurance for violating regulations pertaining to group unit-linked policies.

I-T catches LIC in sights, slaps bill of Rs 9k cr

CNBC-TV18‘s Ashmit Kumar, quoting sources, reports that the taxman has slapped government-owned insurance giant LIC with a notice to pay a tax of Rs 9,000 crore

Govt to relax equity dilution norms for insurance firms

The government is likely to soon relax the norms for dilution of stake by Indian promoters of insurance companies, a move that will pave the way for Reliance Life to sell a 26% stake to Nippon of Japan.