Page 4 - Insurance

Digit insurance clocks $400 mn in annual premiums, served 20 mn customers

In the wake of the pandemic, the company's group health business grew by 11 times to Rs 170 crore.

Online sale of term life insurance products gains traction: Max Life

The pandemic has brought in a lot of awareness among the people and this is evident from the fact that sale of pure protection plan has seen a significant jump post COVID-19.

Compensate for damage due to natural calamity

The National Commission observed that the melting of snow caused discharge of water in the river, causing the tank's collapse. This was a peril under the policy

Life insurers see impressive 22% YoY growth in new business premium in Sept

While private insurers, 23 in total, saw their NBP go up over 42%, LIC saw a 12 per cent rise

SME Chatroom: 'Defective packaging can imperil marine insurance claims'

Clause 4.3 of Institute Cargo Clauses (C) says that in no case will insurance cover loss, damage or expense caused by insufficiency or unsuitability of packing or preparation of subject matter insured

Metlife boosts stake in Indian JV after investment limit relaxed

The deal will boost MetLife's stake in PNB MetLife to more than 47%

Dip in Covid-specific policy sales as consumers go for comprehensive covers

However, despite losing money on short-term Covid products, insurers say they will offer them till the regulator specifies

Amid rise in cybercrimes, a cyber risk insurance can cut your losses

But also buy a comprehensive antivirus software

Enforced bumper-to-bumper cover won't work logistically or economically: HC

Withdraws its previous order, entrusts lawmakers to examine need for amendment in law on wide coverage of vehicles so as to protect victims

Insurers must reimburse Customs under marine policy

The National Commission ordered the insurer to pay the Rs 16.65 cr together with interest at 9% per annum from January 1

Irdai issues draft rules for promoting and regulating surety insurance biz

A general insurer can start a surety business if it has 1.25x the solvency margin; but if solvency goes below the required level, insurer will stop underwriting new business

Insurance woes

Recent growth masks sustained underperformance

Monopoly to oligopoly: Here's a look at 20-year journey of insurance sector

As many as 50 players have set up shop but penetration remains low and only a handful dominate the business

Streamline investment for insurance, pension funds in InvITs: NITI Aayog

A staggered approach should be followed for streamlining of investment guidelines and limits to keep pace with the growth in the InvIT market, it suggested

India's insurance companies feel the digital pinch amid Covid-19 pandemic

Globally, the insurance industry is moving to a model where insurance policies and premiums are tailored to customer profiles aided by vast technological leaps

Infosys Public Services bags contract from Manitoba Public Insurance

Infosys Public Services Inc (IPS), a subsidiary of Infosys, on Thursday said it has been awarded a contract by Manitoba Public Insurance (MPI)

Work cohesively to create India's own equity capital: FM to India Inc

Govt exploring insurance bonds as alternative to bank guarantees

FinMin exploring insurance bonds as alternative to bank guarantees

The government is considering to introduce insurance bonds as an alternative to bank guarantees, Finance Secretary T V Somanathan said here on Tuesday.

Insurer must pay declared value for total loss

The National Commission agreed with the State Commission's view that neither party had managed to prove that the price mentioned by them was the last market price

Lok Sabha passes bill to amend public sector general insurance law

Lok Sabha on Monday passed a bill to amend the general insurance law to allow the government to pare its stake in state-owned insurers.