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Irda to allow combo products
Life insurance companies will soon be allowed to tie up with non-life companies to offer health-plus-life combi products. The Insurance Regulatory and Development Authority (Irda) on Thursday said the product would be a combination of a pure term product covering life risk and a health insurance cover. However, a life insurer will be allowed to tie up with only one non-life insurer and vice-versa. Life

Rs 1.18-cr fine on ICICI Pru for breach of agent fee norms

The insurance regulator has slapped a fine of Rs 1.18 crore on ICICI Prudential Life, India’s second-largest private life insurer, for violating norms pertaining to commissions paid to

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Fitch downgrades Vijaya Bank's rating
Mumbai/Singapore, May 31 (IBNS): Global rating agency Fitch Ratings has downgraded India-based Vijaya Bank's (Vijaya) National Long-Term (LT) rating to 'Fitch AA-(ind)' from 'Fitch AA(ind)'. The Outlook is Stable.

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Fed flood insurance program gets 60-day extension
Congress has given itself two more months to come up with long-term solutions for the debt-burdened federal program that provides insurance for homes and businesses in areas subject to flooding.

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Small businesses say no to health care tax credit
When Josh King heard that small businesses could get a tax credit for offering health insurance to employees, his reaction was, "cool, that'll save us some money."

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State-run insurers asked to raise premiums
The finance ministry has asked state-run general insurers to increase premiums on health insurance, motor and other policies, and refrain from undercutting each other to get new business.

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