LIC collected new business premium of Rs 1.34 lakh crore capturing a market share of 69.4 percent in FY18
Insurers have been asked to ensure that there is no conflict of interest due to board appointments
Both the government as well as private insurance companies have policies designed for the differently-abled segment
The Motor Appellate Claims Tribunal hears cases filed by aggrieved parties in cases of deaths related to road accidents. These cases can drag on for years, if the parties do not come to an agreement on the compensation that needs to be paid to the next of kin.
The general insurance company is a wholly-owned subsidiary of Wadhawan Global Capital.
The product will be sold through insurance web aggregator PolicyBazaar
Premiums will rise 2.86-3.08 times and 2.45-5.61 times for new cars and bikes purchased after this date, respectively
Insurance agents earn renewal commissions on the products sold, which is discontinued if they lose their licence
Upto 50 percent discounts are being offered for spare parts of white goods damaged in the floods
The LIC board has given its in-principal approval to the preference share issue. IDBI Bank board will meet on August 31 to seek approval on the issue
In order to have complete coverage, one must attach additional add-on covers to their comprehensive car insurance policy like engine protector, return to invoice, zero depreciation, etc.
This would mean that more procedures could be made a part of standard health insurance products
IDBI Bank was in talks with two insurers to sell it stake in IDBI Federal Life Insurance. This was put-off after LIC stuck a deal with IDBI Bank to buy 51 percent stake in the bank.
Prior to this, Sampat was CEO for Swiss Re India
M Saraswathy, who wrote the piece, talks about what it means for these companies, how the market might perceive this, and if indeed this affects the proposed merger of National Insurance and United India Insurance with Oriental Insurance.
With large-scale natural catastrophic events on the rise in India, it is necessary to get life and property on an urgent basis
This pool would be used during natural disasters like the Kerala floods to pay out insurance claims
A final shortlist is yet to be decided upon, post which the appointments committee of the cabinet will announce the name
Transfer of insurance is a crucial aspect while buying a used vehicle. Ignoring or procrastination of the same will result as a liability to the owner
Low cost of operations, small ticket and simple products have made investment into online insurers an attractive proposition
The first thing to do is to call on the toll-free number of the insurer and update the insurer about what has happened.
Insured losses from Kerala floods are expected to have crossed Rs 700 crore, a majority of them being crop and motor claims
Not having an adequate cover will mean that the elderly people will have to spend their entire savings on healthcare which will mean lesser to spend on themselves
Insurers expect a majority of claims from motor insurance and property insurance
The probability of claims getting rejected is higher if incorrect or incomplete information is submitted while filling the insurance proposal form