Insurance News

Delhi HC order costs PSU insurance officials their Director post

Delhi HC order costs PSU insurance officials their Director post

Chennai: The Delhi High Court judgement that the Banks Board Bureau (BBB) cannot select the General Manager and Directors of public sector general insurers has cost a couple of officials their board positions, said a senior industry official."A handful of officials in the government-owned general in...

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UP drive to include more farmers under PMFBY

UP drive to include more farmers under PMFBY

Lucknow: The Yogi Adityanath government is set to mobilise the farming community by launching a state-wide drive from December 1 to bring the maximum number of farmers under the Central crop insurance scheme -- Pradhan Mantri Fasal Bima Yojana (PMFBY).The flagship scheme entails coverage and financi...

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Bharti Axa Life settles Rs 106 Cr as Covid related claims

Bharti Axa Life settles Rs 106 Cr as Covid related claims

Chennai: Life insurer Bharti Axa Life Insurance Company Ltd on Monday said it had paid Rs 106 crore in Covid-19 related claims during the first half of FY22.The company also said it had earned a total premium of Rs 1,023.88 crore during the same period up from Rs 912.39 crore earned during the previ...

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IRDAI rejects insurance broking application of India Infoline Group company

IRDAI rejects insurance broking application of India Infoline Group company

Chennai: Insurance regulator IRDAI has rejected the application of 5Paisa Insurance Brokers Ltd for a certificate of registration to act as life and non-life insurance direct broker.Rejecting the application of 5Paisa Insurance filed in 2019, the Insurance Regulatory Development Authority of India (...

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General insurers in India, China, Indonesia may reduce exposure to coal industry gradually: Moody's

General insurers in India, China, Indonesia may reduce exposure to coal industry gradually: Moody's

Chennai: General insurers in India, China, Indonesia and Vietnam, part of the Asia-Pacific nations, will take a gradual approach in reducing their exposure to coal or coal related industries, said Moody's Investors Service in a new report.According to Moody's, the plan of Asia-Pacific (APAC) insurer...

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LIC leads in individual insurance, pvt sector in group insurance

LIC leads in individual insurance, pvt sector in group insurance

Chennai: Government owned Life Insurance Corporation of India (LIC) was far ahead of the 23-member private life insurer's club in terms of the number of individual lives covered last month.On the other hand, the private insurers have insured about 1.81 crore individuals under their group insurance s...

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7,450 square feet office in prime Mumbai for six officials only!

7,450 square feet office in prime Mumbai for six officials only!

Chennai: Which financial sector regulator in India has the luxury of having 7,450 square feet office in high rent city Mumbai for just six officials?Well, the answer is the Insurance Regulatory and Development Authority of India (IRDAI) that runs on policyholders' money, a senior official, speaking ...

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Acko General joins the `billionaire' club

Acko General joins the `billionaire' club

Chennai: Joining the billion dollar valuation club raising $255 million, non-life digital insurer Acko General Insurance Company Ltd will now focus on the health insurance segment, said a top company official.After selling vehicle insurance products directly, Acko General plans to focus on the healt...

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Why you should opt for a comprehensive family health insurance plan

Why you should opt for a comprehensive family health insurance plan

Health insurance in India is mostly restricted to people above the age of 40 who carry the risk or are ailing with some nature of serious diseases or have family & financial responsibilities. The bigger myth that has left people in distress during such trying times of emergency is leaving family...

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IRDAI, the gravy train for employees

IRDAI, the gravy train for employees

Chennai: A five-day week, handsome salary with provident fund, gratuity, medical benefits, qualification allowances - even for the basic educational qualification for which a person is hired -- capping it all is leave travel concession (LTC) post retirement!In addition, provision of treadmills and i...

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