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So far has created 91 blog entries.

HDFC Ergo to buy L&T General insurance

The fourth largest private sector general insurer HDFC ERGO on Friday said it will acquire L&T General Insurance in an all-cash deal for Rs 551 crore and will retain all the employees of the latter even a sit may go for branch rationalisation post acquisition.
Once the deal goes through, it would be the first ever […]

By |June 6th, 2016|General Insurance|0 Comments

BMW India to offer Premium Motor Insurance

BMW India Financial Services has partnered with ICICI Lombard General Insurance to offer premium motor insurance solutions for BMW customers.

Dr. Stefan David Schlipf, MD and CEO, BMW India Financial Services said, β€œAt BMW India Financial Services, we offer end-to-end automotive financial solutions which are significantly valuable to the premium clientele who require exclusive and flexible […]

By |June 3rd, 2016|General Insurance, motor insurance|0 Comments

Health insurance for alternative treatments on the anvil

22 May 2016
Health insurance for alternative treatments like Ayurveda, Yoga, Unani, Siddha and Homoeopathy (Ayush) is set to expand with the Centre taking steps to get insurers to develop packages for traditional treatments.

A handful of Government and private health insurance companies have committed to the Government to draw up packages for Ayush treatments, a source […]

By |May 23rd, 2016|Health Insurance|0 Comments

General insurers’ premium income grew 13.8 per cent in FY16

12 May 2016

Private sector companies saw premium income of Rs39,701.12 crore in the last financial year against Rs35,090.06 crore in FY15.

The general insurance industry registered 13.8% growth in premium income for the last financial year. However, at 13.1%, the growth for private sector general insurance companies was higher than that for public sector insurance companies, […]

By |May 12th, 2016|General Insurance|0 Comments

Third-party motor insurance premium may cost 30% more

7 March 2016

Third-party motor insurance premium rates can go up by 30 per cent from April 1 if a proposal of the Insurance Regulatory and Development Authority of India (IRDAI) gets accepted.

The increase in the mandatory third-party insurance premium, however, varies depending on the category of vehicles (private/commercial) and their capacities.

For example, for four-wheeled vehicles […]

By |March 9th, 2016|IRDA|0 Comments

Sebi, Irda to get service tax exemption for regulatory services

29 Febuary 2016

Providing succour to two sectoral watchdogs, the government will exempt “regulatory services” provided by Sebi and Irda from the service tax ambit.

Providing succour to two sectoral watchdogs, the government will exempt “regulatory services” provided by Sebi and Irda from the service tax ambit.

Besides, exemption would be extended to the services provided by the […]

By |March 1st, 2016|General Insurance|0 Comments

IRDA approves LIC decision to include third gender option in proposal forms

29 Febuary 2016

Transgender applicants can now opt fro the ‘third gender’ category. Policy buyers until now had only two options ‘male’ and ‘female’

The Life Insurance Corporation of India (LIC) recently announced the decision to introduce the third gender option in its proposal forms. This is in line with the Supreme Court verdict in 2014, according […]

By |March 1st, 2016|General Insurance|0 Comments

Government mulling 49% FDI in insurance sector via automatic route

22 Febuary 2016

Government is considering a proposal to permit 49 per cent FDI through automatic approval route in the insurance sector with a view to attracting more overseas inflows.

Currently, FDI up to 26 per cent is permitted through automatic approval route. For FDI up to 49 per cent, the approval of Foreign Investment Promotion Board […]

By |February 22nd, 2016|General Insurance|0 Comments

Irdai on use-and-file products

19 Febuary 2016

The Insurance Regulatory and Development Authority of India (IRDAI) has said that commercial products in general insurance will be sold under use-and-file procedures.

Use-and-file is a procedure where the insurer is permitted to market the product without prior noting of IRDAI. The guidelines will come into force with effect from April 1, 2016.

The procedure […]

By |February 19th, 2016|General Insurance|0 Comments

Insurance regulator inks first bilateral pact with UAE

19 Febuary 2016,

The Insurance Regulatory and Development Authority of India (IRDAI) has entered into its first bilateral agreement with the Insurance Authority of United Arab Emirates (UAE).

The Memorandum of Understanding (MoU) was signed by Chairman TS Vijayan, with his counterpart in the UAE regulator, last week.

The pact assumes significance in the wake of the increase […]

By |February 19th, 2016|General Insurance|0 Comments
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