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Insurance Lokpal Will Be The Authority In All Claims Dispute Matters

The Government has finally notified the rules for appointment of the Insurance LokpalInsurance Lokpal as an ombudsman to entertain complaints on any kind of irregularities in life, health or general insurance.

The rules gazetted on April 25 say the ombudsman”s award shall be binding on the insurers, required to comply with it within 30 days. Anyone […]

By |May 1st, 2017|Uncategorized|0 Comments

IRDA to use Radio service to promote its services

For the first time in its history, Insurance Regulatory and Development Authority of India (IRDAI) is turning to radio stations to promote insurance as a product among masses.

Beginning February 20, IRDAI has launched an insurance awareness campaign, in the form of radio jingles, for a period of six months. Here, not only the All India […]

By |March 4th, 2017|Uncategorized|0 Comments

Natural Calamities Dent Insurance Companies Health

Recurring natural calamities to escalate insurance premium
The growing concerns over the increasing natural calamities in the east coast of India is leading the general insurance players to look at increasing premium rates for properties, commercial establishments, factories and others which are located in the vulnerable areas, according to industry sources. In the last two or […]

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

First Ever Dental Insurance Plan Launched

If you are member of a housing society or a club, you can buy insurance for dental treatment. Ocare, an independent Insurance Process as a Service (IPAAS) platform, has launched a group dental insurance scheme, assuring a sum of Rs 25,000 per annum per person at Rs 1,699 annual premium. Since there is no family […]

By |December 16th, 2016|General Insurance, Uncategorized|0 Comments

Cyber Attack on popular food chain Wendy’s

The company reported suspicious activity earlier this year, but the scale of the breach is far bigger than first anticipated.

At least 1,025 of its restaurants were targeted – with debit and credit card information stolen.

The company did not speculate how many people may have been affected, though it did say all of the locations were […]

By |July 8th, 2016|Uncategorized|0 Comments

SBI General Insurance Gets Recognition at Indian Insurance Awards

SBI General Insurance wins accolades at Indian Insurance Awards

SBI General Insurance Company Ltd, one of India’s fastest growing general insurance companies, won two awards in the category of Medium/ Small companies in the General Insurance space at the recently concluded ‘The Indian Insurance Awards, 2016.’

The Indian Insurance Awards 2016- Fintelekt have been conceptualised to honour […]

By |July 5th, 2016|General Insurance|0 Comments

E-insurance mandatory in life insurance

Electronic insurance will become mandatory for annual premium equal to or above Rs 10,000 (single/annual premium) in life insurance policies. Insurance Regulatory and Development Authority of India (Irdai) in its Issuance of e-Insurance Policies Regulations, 2016, said these norms would come into force from October 1.

Here, electronic insurance policy will mean a policy document which […]

By |June 22nd, 2016|e-insurance, IRDA, Life Insurance|0 Comments

HDFC Life and Max Life to merge

Max Financial Services and Max Life have entered into an agreement for a merger with HDFC Life. In a statement to the stock exchanges, Max Financial Services and Housing Development Finance Corporation (HDFC) said that their respective boards have approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a […]

By |June 18th, 2016|Life Insurance|0 Comments

IRDAI to accord approval to foreign reinsurers

Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) board is likely to meet on June 30 to accord final approval (R2) to some foreign reinsurers to set up branches in India.

“The board is likely to meet on June 30 and final approval of reinsurance applicants is one of the agenda of the meeting,” […]

By |June 13th, 2016|IRDA, Reinsurer|0 Comments

Insurance firms keen to set up shop at GIFT City

At least five foreign banks, two Indian insurance companies and many other financial institutions have approached the state-promoted Gujarat International Fin-Tec City (GIFT) City to set up shop in the country’s first International Financial Services Centre (IFSC) being established here.

“Two of these foreign banks are in an advanced stage of discussions. Once they take a […]

By |June 8th, 2016|General Insurance|0 Comments
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