tag:blogger.com,1999:blog-7727407849213986042011-12-01T00:01:14.269+05:30National Insurance Academy School of Management, Pune(INDIA)rachin aggarwalhttp://www.blogger.com/profile/00173996061858891700noreply@blogger.comBlogger7091100tag:blogger.com,1999:blog-772740784921398604.post-80233411645859931662009-06-09T22:31:00.000+05:302009-06-09T22:32:45.995+05:30

Mumbai: Life insurance premium rates are likely to drop over the next few months owing to longer life expectancy, with a new mortality and morbidity table expected to be in place by the fourth quarter of 2009 to replace the current one, which is of 1994-96 vintage.The new rates will include the claim experience of individual companies and will be based on 2006-08 data.The Mortality and Morbidity

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com39tag:blogger.com,1999:blog-772740784921398604.post-42428782149914856052009-06-09T22:23:00.002+05:302009-06-09T22:29:00.884+05:30

Bangalore: As a prelude to equity dilution, the government has asked public sector non-life insurance companies to shift focus from top lines to bottom lines.Highly placed sources said that at a meeting with the Union Finance Ministry officials last week, the four non-life PSU insurance heads were told to reduce their reliance on profits from investments, including sale of equities. Instead, they

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com1tag:blogger.com,1999:blog-772740784921398604.post-1083131889935485332009-01-24T00:03:00.000+05:302009-01-24T00:04:52.771+05:30

Chennai: A day after the government announced its decision to extend health insurance cover to the poor, Chief Minister M. Karunanidhi convened a meeting of officials to discuss the modalities of implementation of the project. Emerging from the discussions, he said he had preliminary discussions on the scheme with Finance Secretary K. Gnanadesikan on the method to identify the beneficiaries,

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-47882561388590444502009-01-24T00:02:00.000+05:302009-01-24T00:03:19.246+05:30

Chennai: The State Council of Confederation of Indian Industry (CII) on Thursday welcomed the State government move to introduce Health Insurance Scheme for Life Saving Treatments for the poor and low-income groups. Addressing newsmen, Manikam Ramaswami, CII-TNSC Chairman, said “this gesture of Chief Minister M. Karunanidhi will go a long way in not only improving the physical health of the

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-32285136058252459042009-01-24T00:01:00.000+05:302009-01-24T00:02:14.851+05:30

Hyderabad: There is a big relief for thousands of employees of the scam-hit Satyam Computer Services across the country on the health insurance front. The Hyderabad-based company has renewed the group health insurance for its employees. According to a Satyam spokesperson, the last date for the payment of the premium was and the company promptly renewed it.The company has Iffco-Tokio General

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com1tag:blogger.com,1999:blog-772740784921398604.post-76720919081990244902009-01-23T23:59:00.000+05:302009-01-24T00:00:30.801+05:30

Mumbai: The four public sector non-life insurers – New India Assurance, Oriental Insurance, United India Insurance, and National Insurance – are mulling floating a third party administrator (TPA) company to take advantage of the healthy volumes in the health insurance segment. “There is a case for the four public sector non-life insurers to come together to set up a third party administrator for

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-40716801356628565232009-01-23T23:58:00.000+05:302009-01-23T23:59:09.149+05:30

Coimbatore: In order to tide over the declining growth rate of insurance companies, Oriental Insurance is planning to explore the untapped areas to balance the falling growth rate, said M. Ramadoss, Chairman and Managing Director of The Oriental Insurance Company Limited, New Delhi. He was speaking at the function organised for the inauguration of the new premises of the Coimbatore Regional

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-44447260393121943722009-01-23T23:57:00.000+05:302009-01-23T23:58:18.760+05:30

Bangalore: Child insurance is one of the biggest growth areas for the insurance business in India, driven by the rising cost of education and parents' desire to secure a good future for their children. At ING Life, children's plans contribute over 20% of the total business currently, up from about 8% a year ago. At HDFC Standard Life, children's plans are a third of the total business. Max New

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-38423074086383747512009-01-23T23:56:00.000+05:302009-01-23T23:57:08.069+05:30

New Delhi: Keeping an eye on engineering giant L&T's moves on the Satyam front, government-run life insurance major LIC, which has equity investment and board representation in both the companies, on Thursday said the IT firm was still valua ble and could be revived with right leadership. “We have an investment there (Satyam). If better returns come from a sale, then we (will) go for a sale,''

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-23342247771467108362009-01-23T23:54:00.000+05:302009-01-23T23:55:41.906+05:30

Chennai: Existing Life Insurance Corp (LIC) policyholders will not have to subsidise holders of the insurer's new guaranteed return product Jeevan Aastha, LIC chairman T.S. Vijayan has said. Launched for 45 days, the scheme closed Wednesday and is expected to fetch LIC around Rs.90 billion (Rs.9,000 crore). "There is no question of robbing Peter (existing policyholders) to pay Paul (Jeevan Aastha

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-48051552753222302052009-01-23T23:53:00.000+05:302009-01-23T23:54:26.304+05:30

Kolkata: Export Credit Guarantee Corporation (ECGC) has no plans to hike premium on its insurance coverage in near future. The coverage is offered to Indian exporters and bankers to protect them against payment defaults by overseas buyers. In a related move to make insurance coverage more attractive among exporters, the Corporation has resolved to expedite claim settlements on payment defaults

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-11161120464761529752009-01-23T23:42:00.000+05:302009-01-23T23:52:22.441+05:30

Mumbai: With global insurance companies taking a hit due to the economic recession, the Insurance Regulatory and Development Authority (Irda) has asked domestic insurance companies to provide information on the business gathered through the representative or liaison office, expenditure incurred, details of complaints received and redressed. The regulator has asked insurers to submit reports on a

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-88585538007551148552009-01-23T02:11:00.000+05:302009-01-23T02:12:13.209+05:30

Hyderabad: Thousands of Satyam employees working across the country are set to lose their health insurance cover from as the beleaguered IT giant has failed to renew the premium. The company did not pay the approximately the Rs 30 crore outstanding premium “despite repeated requests” to Iffco-Tokio General Insurance Company on Wednesday which is the last date for payment, according to reliable

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-991778539617826202009-01-23T02:08:00.000+05:302009-01-23T02:09:55.898+05:30

Chennai: The government will launch an insurance scheme for the poor and low- income groups to get the best medical treatment in government and private hospitals, Governor Surjit Singh Barnala said on Wednesday. It would benefit about one crore families. The insurance cover would be up to Rs.1 lakh.In his address to the Assembly, Mr. Barnala said the government was aware that it was not possible

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-42323965765220669392009-01-23T02:07:00.001+05:302009-01-23T02:08:15.058+05:30

Mumbai: State-run non-life insurer, Oriental Insurance Company (OIC), is looking at a premium growth of 4-5% by the fiscal-end, up from 2.7% recoded a year ago. The company achieved the gross premium collection of Rs 2975 crore as on December, 2008 and was expecting the figure to be at Rs 4200 crore by the end of the fiscal.Speaking to reporters after inaugurating first broker divisional office

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-6532842728103083542009-01-23T02:03:00.000+05:302009-01-23T02:04:44.545+05:30

Tata AIG Life Insurance Company Limited has announced the launch of Tata AIG Life InvestAssure Insta, an easy-to-understand and customer-friendly unit-linked insurance plan. Tata AIG Life InvestAssure Insta is designed to help the policyholder obtain valuable protection enhanced by the benefit of getting the most out of his investment and the growth potential through high allocation rates and

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-36047315465811766462009-01-23T02:00:00.000+05:302009-01-23T02:02:50.311+05:30

Mumbai: Despite the turmoil in the financial markets, Life Insurance Corporation’s Jeevan Aastha policy is on course to break the record for premia collection by a scheme in a single month. The policy has been lapped up by celebrities and middle-class investors alike during the 45-day window it was open for sale. The policy, which closed on Wednesday, is expected to collect over Rs 8,000 crore.

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-68526454436547083132009-01-23T01:58:00.000+05:302009-01-23T02:00:29.715+05:30

Kolkata: Faced by a rising demand for Directors and Officers (D&O) liability policies after the Satyam scam, the National Insurance Company Ltd is looking at increasing the premium rate by over 30 per cent, according to NIC sources. The public sector insurer may also formulate more restrictive clauses for D&O, for example, exclusion of all claims in case of criminal offence by the directors, a

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-77757038520528793122008-10-19T18:01:00.000+05:302008-10-19T18:03:02.315+05:30

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-79482689811364447222008-10-19T17:43:00.001+05:302008-10-19T17:43:53.636+05:30

The first annual general meeting of the board of LIC Pension Fund, which was held in Mumbai on Wednesday, reviewed the progress of the company including regulatory compliance, risk management, corporate governance, progress in business development and internal audit. T. S. Vijayan, chairman of the company, expressed confidence in the strength o0f LIC Pension Fund and visualized a bigger role in

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-52600911339606549672008-10-19T17:41:00.000+05:302008-10-19T17:42:40.710+05:30

New Delhi: The non-clearance of insurance claims can render any risk mitigation product worthless. It is worse when the victims are hapless farmers who, having lost their crops, are deprived of compensation despite having insurance cover under the government-supported National Agricultural Insurance Scheme (NAIS). Unpaid insurance claims are reckoned to have mounted to over Rs 920 crore, owing

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-86166214949602955152008-10-19T17:39:00.000+05:302008-10-19T17:41:00.286+05:30

Perambalur: Farmers, who wish to avail the weather-based crop insurance scheme, can pay the premium for the scheme until October 31, Collector Anil Meshram has said.Speaking at a consultative meeting on the implementation of the insurance scheme in the district here on Thursday, Mr. Meshram said the scheme was being implemented by the Agriculture Insurance Company of India with assistance from

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-43895851920876850632008-10-19T17:38:00.000+05:302008-10-19T17:39:36.085+05:30

Actor Paresh Rawal will now be seen on the small screen promoting IFFCO-TOKIO General insurance, for it’s recently launched advertising campaign. IFFCO-TOKIO General Insurance is a trusted player in general insurance and has rolled out its new Muskurate Raho ad campaign. The campaign is titled Albert Pinto kyon muskura raha hain and Paresh Rawal who will be seen ad Albert Pinto.Source: The

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-67823020700041608712008-10-19T17:36:00.000+05:302008-10-19T17:38:31.165+05:30

Karimnagar: Andhra Bank launched the ‘AB Bima Utsav-II -2008’ coinciding with the festival season from October 15 to December 31, 2008 at all its branches. Speaking to newsmen here on Wednesday, Andhra Bank deputy general manager A. S. Prabhakar said that during this Utsav they would educate customers about various insurance-based policies such as Andhra Bank Jeevan Abhaya and Abhaya Gold, Andhra

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-26889708946824379862008-10-19T17:35:00.000+05:302008-10-19T17:36:15.948+05:30

Chennai: T. S. Mahalingam & Sons (TSM), a reputed name in the used car business, has inked a distribution agreement with nascent AEGON Religare Life Insurance to hawk the latter’s products. The tie-up with TSM is expected to help AEGON Religare beef up its presence in southern India. Also, Religare will have access to over 2.50 lakh potential customers of TSM.Addressing a press conference here on

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com6tag:blogger.com,1999:blog-772740784921398604.post-88985399405821939432008-10-19T17:33:00.000+05:302008-10-19T17:34:54.409+05:30

Taking a cue from the mobile telecom sector, Max New York Life Insurance on Wednesday, launched Max Vijay, an innovative insurance scheme that has been made affordable, accessible and flexible for the common man.Marking a paradigm shift in life insurance, the company has made the process of buying life insurance simple with its innovative distribution, marketing as well as service delivery. “

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-37399662142385026352008-10-19T17:31:00.000+05:302008-10-19T17:33:10.789+05:30

Mumbai: Financial service company Bajaj FinServ Ltd is getting ready to enter the assets management business, its managing director said on Thursday. “We desire to get into the business,” Sanjiv Bajaj said on the sideline of an industry conference. He said on the sidelines of an industry conference. He said he was in talks with Germany’s Allianz. Bajaj already runs insurance joint venture with

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-72172877975316092062008-10-19T17:28:00.000+05:302008-10-19T17:30:15.092+05:30

The world financial market is facing one of the worst crises since the Great Depression of the 1930s. The $700-billion bailout, which some analysts are calling “cash-for-trash”, has barely calmed the international financial market, which is still coming to the grips with the huge fallout of the sub-prime crisis.Unlike the earlier Savings and Loan Association crisis of the 1980s and 1990s in the

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-52188186022162902462008-10-19T17:26:00.000+05:302008-10-19T17:27:45.216+05:30

Coimbatore: Retail insurance site www.click2insure.in is in the process of introducing two-wheeler insurance cover online in the national capital region. The site, promoted by Optima Insurance Brokers, aims to resolve the inconvenience faced by two-wheeler owners on the policy renewal front.The company has, in the pilot phase, rolled out the service at a grocery store — LM 365, Mayur Vihar, New

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-35106639243701152692008-10-19T17:24:00.000+05:302008-10-19T17:25:22.250+05:30

New Delhi: The Union Cabinet on Thursday approved inclusion of maternity benefit under the Rashtriya Swasthya Bima Yojana (RSBY), subject to the condition that the premium is within the existing limit of Rs.750 per beneficiary. The modification would be applicable with immediate effect and this would encourage institutional delivery among those workers living below the poverty line.The RSBY was

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-4247765211450589592008-10-19T17:20:00.000+05:302008-10-19T17:22:23.336+05:30

New Delhi: The Union Cabinet deferred a decision on the much-awaited insurance law amendment Bill that aims to raise the foreign direct investment (FDI) cap for insurance companies from 26 per cent to 49 per cent. No decision was taken as Finance Minister P Chidambaram was not present at the meeting.The Insurance Laws (Amendment) Bill is expected to be tabled in the coming Parliament session,

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-29160269122063390412008-08-29T14:12:00.002+05:302008-08-29T14:16:15.161+05:30

Life protection has become far more affordable. The cost of life insurance has come down by up to 40%, with Insurance Regulatory and Development Authority (IRDA) reducing the capital that insurance companies need to sell term policies. For the second time since the liberalisation of the insurance industry in 2000, there has been a dramatic reduction in term-insurance rates, making life protection

Sarita Mohantyhttp://www.blogger.com/profile/00023469791136306266noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-8053025493518318752008-08-29T11:07:00.000+05:302008-08-29T11:08:14.882+05:30

Nagercoil: A sub-regional office of the Employees’ Provident Funds Organisation is a long-cherished dream of the provident fund pension account holders of Kanyakumari district. According to sources, after much protracted correspondences by various trade unions, political parties, different members of Parliament and a follow up struggle by the present member of Lok Sabha, A.V. Bellarmine, the EPF

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-6266122752291174112008-08-29T11:06:00.000+05:302008-08-29T11:07:13.542+05:30

New Delhi: Here’s an interesting revelation about exempt pension funds: it may not just be the negative attitude of the EPFO board against investment in the capital markets that held them back thus far from such investments. Investment in private sector bonds was permitted for exempt fund, for instance, as far back as 1998-99.However, they had to carry an investment rating from at least two

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-45439982809677828372008-08-29T11:04:00.000+05:302008-08-29T11:05:51.428+05:30

Chennai: A small photo studio in T Nagar, Chennai, sold more than 50 general insurance policies in the last months alone. All that a person had to furnish was his name, address and the nominee’s name. The policy document will be issued in 15 minutes, shop owner M Raju Mani said.With the general insurance penetration at a dismal 0.60 per cent (measured as a percentage of GDP), many companies feel

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-36329595205102914712008-08-29T11:03:00.000+05:302008-08-29T11:04:36.673+05:30

Kolkata: Iffco-Tokio General Insurance (ITGI), was planning to come up with the first of kind product in travel insurance for the domestic market and could move to seek the Insurance Regulatory & Dvelopment Authority(IRDA) in about three month's time.ITGI, a joint venture between The Indian Farmers Fertiliser Cooperative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, already

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-89497653015447238382008-08-29T11:01:00.000+05:302008-08-29T11:02:20.078+05:30

New Delhi: Max New York Life Insurance Co Ltd plans to expand aggressively in the South this fiscal, a top company official has said. “We already have well dispersed presence in North and Western India. Bulk of the expansion will happen in South this year. By the end of the year, we will be in 75 towns with 125 offices”, Mr Debhasis Sarkar, Senior Director & Chief Marketing Officer, MNYLI, told

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-25385343317022189012008-08-29T11:00:00.000+05:302008-08-29T11:01:17.835+05:30

Mumbai: SBI Life on Tuesday said it has been ranked third globally in terms of number of Million Dollar Round Table (MDRT) members. The MDRT membership is an exclusive honour that is achieved by less than one per cent of the world's life insurance and financial services advisors, a press release issued here said. "Our global ranking is a testimony to the capabilities and potential of the Indian

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-27853614696848297262008-08-29T10:54:00.002+05:302008-08-29T10:55:54.821+05:30

One notion about Life Insurance Corporation of India persisting in the public mind is that of a government hotline. It is widely believed that every time the stock market sees a historic crash, the phone rings at the investment department with instructions to support the market. Indeed, in various Black Mondays witnessed by the equity markets, when the Sensex crashed several hundred points, LIC

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-15679330743021524372008-08-29T10:54:00.001+05:302008-08-29T10:54:46.582+05:30

New Delhi: Insurance companies may soon be allowed to raise capital through several means which are normally used by commercial banks. The government is considering an amendment in the insurance law for allowing insurers to have hybrid capital. This would help the insurers meet their expansion plans while fulfilling solvency norms. The new norms would be applicable for both public and private

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-51547702238152050072008-08-29T10:53:00.000+05:302008-08-29T10:54:02.638+05:30

New Delhi: The Insurance sector in India has seen a significant slowdown in growth in the first quarter of the current fiscal. Premium from new policies has fallen 23%, according to the latest Insurance Regulatory and Development Authority (IRDA) report. The figures show that the industry witnessed 15% growth between April and June this financial year as against 38% in the corresponding period

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-64817437333772663792008-08-29T10:52:00.000+05:302008-08-29T10:53:19.347+05:30

Hyderabad: The Insurance Regulatory and Development Authority (IRDA) has amended the regulations on investment of insurance companies. The definition of investments in infrastructure by the insurance companies is now aligned with current norms prescribed by the Reserve Bank of India. This would “bring in better cohesion and facilitate smooth flow of funds into this important sector”, Mr C.R.

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-15429424286438575452008-08-28T17:13:00.000+05:302008-08-28T17:14:09.661+05:30

Bangalore: Employee State Insurance (ESI) is seen as an ineffective health insurance scheme for the organised sector temporary employees. In a study by staffing solutions company, TeamLease Services, nearly 70 per cent of temporary employees view the ESI deduction as a form of tax for which they get no or very poor return.The report says that only 30 per cent of the two per cent who used ESI

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-35217561029302853322008-08-28T17:12:00.001+05:302008-08-28T17:12:52.818+05:30

Using its mallassurance channel, Future Generali, the Insurance Venture of future group of India and Generali Group of Italy, ahs acquired over 2 lakh customers in just 5 days through its ‘Maha Insurance’ initiative at Big Bazaar’s ‘Maha Bachat’ promotion from August 13-07.Source: The Financial Express

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-52901939810043815832008-08-28T17:11:00.000+05:302008-08-28T17:12:01.127+05:30

Mumbai: Insurance broking has a potential to reach Rs 10,000 crore in non-life insurance premia from the current Rs 3,000 crore, a broker said. The insurance broking industry, which was given permission to operate by Insurance Regulatory Development Authority in October 2002, is growing by 15-30% for the past 4 years, brokers said.Unlike insurance agents, who represent the insurance agency, a

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-75769211459360759902008-08-28T17:10:00.002+05:302008-08-28T17:11:03.583+05:30

Bangalore: United Bank of India (UBI) and Tata AIG Life Insurance (Tata AIG Life) on Monday announced the launch of 'United Retirement Solutions' - a customised package of three retirement products from Tata AIG Life for customers of UBI. The solutions includes - InvestAssure Future, Nirvana Plus Pension Policy and Easy Retire which offer comprehensive retirement benefits and financial protection

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com3tag:blogger.com,1999:blog-772740784921398604.post-45455971957889320272008-08-28T17:10:00.001+05:302008-08-28T17:10:25.994+05:30

Mumbai: slower growth in sales of new insurance policies has affected the valuation of life insurance companies by up to 40 per cent. An international investment bank has lowered the valuation of ICICI Prudential Life Insurance by over 41 per cent to $9.2 billion compared with that of $15.7 billion assigned in February this year. In both the cases, the valuation was for 2009-10. ICICI Prudential

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-34185318256357418172008-08-28T17:08:00.000+05:302008-08-28T17:09:47.504+05:30

Mumbai: Life companies have expressed concern that sale of insurance cover by mutual funds could undermine the distribution infrastructure of life companies. They have also complained to the regulator that such a move would end up violating guidelines of the insurance regulator. This is the latest in the ongoing turf war between the mutual fund and the life insurance industry. Mutual funds have

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-46748056280028885252008-08-28T17:07:00.000+05:302008-08-28T17:08:33.047+05:30

The new investment guidelines issued by the Insurance Regulatory & Development Authority (Irda) may have spread cheer among private sector insurers, but it has caught the country’s largest insurer, the Life Insurance Corporation (LIC), off-guard. LIC is also the country’s largest institutional player, with a staggering Rs 7.5 lakh crore of investments.Finding itself in a quandary after Irda

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-5344468462368609612008-08-28T17:06:00.002+05:302008-08-28T17:07:18.354+05:30

Hyderabad: The Union Ministry of Statistics and Programme Implementation, is ready to share vital data with the insurance companies and provide consultancy, according to Dr Pronab Sen, Chief Statistician and Secretary of the Ministry.“Though our primary task is to provide data on various aspects to the Planning Commission, we do possess lot of figures, which will be useful for the insurance and

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-55918609977068429502008-08-28T17:06:00.001+05:302008-08-28T17:06:31.409+05:30

Banks, financial institutions and insurance (BFI) companies provided the much-required cushion to the equity markets in the first quarter of FY09. While foreign institutional investors (FIIs) sold a hefty $4 billion of equities in the quarter, the BFI investors together bought $2.6 billion of equities, a study by ENAM, titled “India Inc Shareholding – June 2008” shows.The study analyses in detail

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-85601770010414952852008-08-28T17:04:00.000+05:302008-08-28T17:05:34.548+05:30

Mumbai: Key-Person insurance is catching up in a big way in the country, with banks, IT and pharma firms spending millions on insuring their indispensable employees. In fact, according to industry sources, executives like ICICI Bank MD & CEO KV Kamath and HDFC chairman Deepak Parekh could well be insured for a few thousand crore rupees. And it’s not just top officials of multinational

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-12372577363076608062008-08-28T17:03:00.002+05:302008-08-28T17:04:11.139+05:30

The Insurance Regulatory & Development Authority (Irda) has asked insurers having assets under management of over Rs 500 crore to personally see that someone acts as fund manager and dealer. “The investment system should have separate modules for front and back office,” said Irda in a notification.Transfer of data from front to back office should be electronic without manual intervention, that is

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-60496687864861765802008-08-28T17:03:00.001+05:302008-08-28T17:03:35.865+05:30

Mumbai: After a two-year wait, the Insurance Regulatory and Development Authority (Irda) has notified new investment norms that provide more flexibility to insurance companies for parking funds in debt instruments offered by banks and allows more money to flow into initial public offers (IPOs).At the same time, it has put in place group and individual company exposure norms for unit-linked

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-28951286592068689792008-08-28T17:01:00.000+05:302008-08-28T17:02:13.617+05:30

Mumbai: The Insurance Regulatory and Development Authority’s (Irda) move to allow insurance companies to invest in venture capital (VC) funds could help them raise money more easily, but it could take up to 12 months for insurers to start investing.On Friday, Irda allowed life insurers to invest 3 per cent of their total investible corpus in VC funds or 10 per cent of the fund’s size, whichever

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-81086586726547217602008-08-26T17:42:00.000+05:302008-08-26T17:43:02.190+05:30

Hyderabad/Mumbai: Insurers investing in initial public offerings (IPO) of private sector companies will enjoy more freedom that could help policy holders garner higher returns from equities post-listing. They can also invest in fixed-income instruments such as mortgage-backed securities (MBS) and bonds floated by developers of SEZs. Insurers will get greater leeway in their investments in

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-26792889185310166612008-08-26T17:40:00.000+05:302008-08-26T17:41:41.817+05:30

New Delhi: The Employees’ Provident Fund Organisation finalised the fund allocation to the four successful bidders in an order that is inversely proportional to their financial bids. The lowest bidder HSBC will get the highest amount to manage followed by ICICI Prudential AMC and then Reliance Capital AMC and State bank of India.“We have taken a decision on who will manage which fund and

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-8607996686292574922008-08-26T17:15:00.001+05:302008-08-26T17:15:54.686+05:30

New Delhi: How do you provide health care to handloom weavers, who occupy among the poorest segments in the unorganised sector? There are 6.5 million of them scattered across the country and are not always fixed in their occupation.For the textile ministry that oversees their welfare, the answer was insurance cover — with a private company underwriting the risk. It was seen as a daring move when

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-14598408952556048152008-08-26T17:14:00.001+05:302008-08-26T17:14:58.884+05:30

Hyderabad: IDBI Fortis Life Insurance Co Ltd has opened its second branch in Andhra Pradesh in Vijayawada in addition to its branch in the State Capital. It is also planning to open four more new branches in the State during the year, Ms R.M. Vishakha, President – Bancassurance, IDBI Fortis Life Insurance Co Ltd, said after inaugurating the branch, according to a release. Source: The Hindu

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-55412603862023331002008-08-26T17:12:00.000+05:302008-08-26T17:13:45.537+05:30

Kolkata: Having suffered a severe downslide in growth in premium during the first quarter of the current fiscal, Bajaj Allianz Life Insurance is going in for a rejig of its operations.It is devising a new range of unit-linked policies to compensate for the chunk of premium that came from a category of products that were discontinued since last year. It is also looking at controlling

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com1tag:blogger.com,1999:blog-772740784921398604.post-15577508741456409122008-08-26T17:11:00.000+05:302008-08-26T17:12:27.205+05:30

Mumbai: A popular life insurance advertisement shows a husband asking his wife, “Mere bina jee paogi tum?” when she wants him to sign papers subscribing to a life insurance policy.The wife, taken aback, replies: “Nahin.” “What will you do with all the money you will get from the life insurance in case I die?” he asks again. She then makes him understand that his signing the papers would guarantee

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-7398631241241615192008-08-26T17:09:00.000+05:302008-08-26T17:11:07.221+05:30

How effective is the Insurance Regulatory and Development Authority (IRDA) directive over loading (increase) of premium during health insurance policy renewal? Despite the March 2008 instructions to public sector general insurance companies to cap loading at 75% of previous year's rates and to set up a grievance cell for the category, complaints from senior citizens continue to pour in. A

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-25949215302315423472008-08-26T17:08:00.001+05:302008-08-26T17:08:57.710+05:30

Hyderabad: The Insurance Regulatory and Development Authority (IRDA) has constituted a committee to examine the requirements for International Financial Reporting Standards (IFRS) compliance by the insurance industry.The 12-member panel is headed by Dr R. Kannan, Member (Actuary), IRDA. It would examine the requirements of IFRS, current availability of various requirements including accounting

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-10138431555461924932008-08-26T17:07:00.001+05:302008-08-26T17:07:59.292+05:30

New Delhi: The insurance regulator will set up a committee to draw up guidelines to classify the investment portfolios of insurance companies, a move that could require them to value their investments and make necessary provisions according to prevailing market conditions.Life insurers are allowed to link policyholders’ funds to market prices, such as in the case of unit-linked policies (Ulips),

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-34263780672696458792008-08-21T18:19:00.000+05:302008-08-21T18:20:34.212+05:30

Bartronics’ Rs 400-crore contract win from the Employees State Insurance Corporation (ESIC) enhances its strong domestic presence; India already contributes over 50 per cent of the company’s revenues.The size of the contract is approximately 1.5 times its 2007-08 revenues and adds to long-term revenue visibility. Bartronics derives around 45 per cent of its revenues from the smart cards (cards

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-29701360881951543662008-08-21T11:31:00.002+05:302008-08-21T11:43:03.364+05:30

Earlier this month, in one of the more complex transactions concluded in recent times, UK insurance major Aviva that was running some of its insurance and back-office processes through build-operate-transfer contracts with three vendors in India, sold the entire operations to WNS Global Services for a consideration of $228 million. In addition, WNS also received a commitment from Aviva that is

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-76519644890827943262008-08-21T11:30:00.000+05:302008-08-21T11:31:19.049+05:30

Mumbai: ICICI Prudential Life has extended its corporate agency tie up with the Muthoot Group in 6 additional States for the distribution of its insurance products. ICICI Prudential Life has partnered with the Muthoot Group for the past six years in Kerala, said a press release. The partnership with the Kerala- based NBFC will now be extended to States such as Delhi and NCR, Rajasthan, West

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-23856111091898427222008-08-21T11:29:00.000+05:302008-08-21T11:30:36.311+05:30

Mumbai: Private sector life insurance company, Bajaj Allianz Life Insurance, has announced the launch of its wealth-creating ULIP, 'Bajaj Allianz Fortune Plus'. The product would be the first ULIP to offer Zero Surrender Charges and high allocation from day one, a press release issued here said. It would be available at affordable premiums to masses starting at Rs 15,000 per annum only. "This is

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-15997558419392194032008-08-21T11:28:00.000+05:302008-08-21T11:29:28.245+05:30

New Delhi: The Delhi High Court on Monday criticised insurance companies that frequently challenge lower court orders of accident compensation and said they were after the victim's blood. Dismissing a petition of Oriental Insurance Company, Justice V B Gupta said the provisions in the Motor Accident Claim Tribunal Act (MACT) were brought in to grant relief to the victim by way of compensation and

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-70627107270968214422008-08-21T11:27:00.000+05:302008-08-21T11:28:32.326+05:30

Mumbai: The film insurance business in the country is gathering momentum and may soon become a good revenue-stream for insurance players, industry officials said.The demand for risk-cover against unanticipated incidents has led film producers to opt for mechanisms that provide protection to their investments, they said. “Films fall into the broad category of event management and hence like any

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-16250167990466351272008-08-20T13:29:00.001+05:302008-08-20T13:29:48.271+05:30

Mumbai: K N Bhandari, the secretary general of the General Insurance Council (GIC), a self-regulatory body for non-life insurers, has decided to step down, following sharp differences between private and public sector players on a host of issues.The differences, which were across the spectrum, were showing no signs of receding. “There are differences over administered pricing, market wordings and

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-79814225987489238092008-08-20T13:27:00.001+05:302008-08-20T13:28:25.715+05:30

Kolkata: A fresh set of reforms for unlocking the value of the nationalised insurance companies may be on the way, with the government considering changes in the General Insurance Business (Nationalisation) Act (GIBNA).If this happens, the four nationalised companies — New India Assurance, National Insurance Company, Oriental Insurance Company and United India Insurance — may be allowed to tap

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-17367021242664236182008-08-20T13:17:00.002+05:302008-08-20T13:26:55.708+05:30

Ergo Insurance, a part of the Munich Re Group, has taken a unique approach to tap the Indian market. The group has three distinct partnerships in India for life, non-life and health, where it has partnered the Hero group, HDFC and Apollo Hospitals, respectively. The Ergo group was formed, following consolidation of various insurance companies active in life, health, property and casualty

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-19482021027341194102008-08-20T12:45:00.002+05:302008-08-20T13:17:24.136+05:30

Has insurance broking really taken off in India? The answer to this really depends on one's expectations, says Mr C. Radhakrishna, co-promoter, India Insure. "It is a brand new industry segment, born (unlike as in other countries) in a regulated and restricted market, where it has been difficult for the broker to demonstrate value addition to the demanding corporate customer," he adds."Under

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-59225009976587759112008-08-20T12:44:00.000+05:302008-08-20T12:45:24.079+05:30

New Delhi: Credit rating agency ICRA has expressed the fear that private sector general insurance players will sacrifice prudential pricing norms in their bid to garner market share, following removal of mandatory price restrictions on certain schemes."With the price-based competition being intense in the post-de-tariffed scenario, concern for market share is likely to override price discipline

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-76248753691385954962008-08-20T12:41:00.000+05:302008-08-20T12:43:29.176+05:30

Hyderabad: Valuation of insurance companies is back on the regulator’s radar. The Insurance Regulatory and Development Authority (IRDA) is on course to develop commonly-accepted benchmarks and disclosures to value insurance companies as this would be crucial when Indian partners dilute their shareholding.The present regulation requires Indian promoters with a majority shareholding to dilute their

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-51137301964361354022008-08-20T10:12:00.005+05:302008-08-20T18:18:02.607+05:30

Move To Bridge Gap Between Supply And Demand For Insurance ExecutivesNIA pass out Aftab Khan (right) receives the director’s gold medal from Ezzat Bary and K.K. Srinivasan at the 3rd convocation of the NIA on Sunday. Also seen are (Left to right) K.C. Mishra, Smita Totade, D.K. Mehrotra and Mangesh Patwardhan Pune: Sample this. The insurance industry in India employs 45 lakh people, directly or

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-9711034034427774622008-08-19T18:27:00.001+05:302008-08-19T18:30:08.837+05:30

17 Aug 08 marked a historial event for NIA(National Insurance Academy) when all 5 batches of NIASOM(National Insurance Academy-School of Management) reunited on the occasion of convocation for batch 2006-08.The event was graced with the presence of some of the eminent personalities from the insurance fraternity. Mr.Srinivasan from IRDA was the Chief Guest at the function. Mr. D.K.Malhotra(M.D.

Vanktesh Chowdharyhttp://www.blogger.com/profile/12719483221987325793noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-62259765847464687962008-08-14T13:14:00.000+05:302008-08-14T13:15:30.202+05:30

Bangalore: A group insurance plan for HIV positive people, covering their treatment cost among others, was on Wednesday launched here in a first such effort in India. The pilot initiative will provide Rs 30,000 insurance cover for 250 people living with HIV in Karnataka's six districts of Bellary, Mangalore, Mandya, Kolar, Mysore and Udupi. The insurance cover entails the beneficiary Rs 15,000

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-53322289720295781372008-08-14T13:13:00.002+05:302008-08-14T13:14:19.180+05:30

Kochi: The General Insurance Officers All India Association has opposed the Union Government’s move to introduce an initial public offer (IPO) in the four public sector general insurance companies. Mr P. P. Mohanan, General Secretary of the Association, Kerala, said that the proposed amendment in the General Insurance Business (Nationalisation) Act of 1972 to raise capital from the markets

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-41132330400610365832008-08-14T13:13:00.001+05:302008-08-14T13:13:40.961+05:30

Chennai: Bharti AXA General Insurance, the latest entrant into the general insurance industry, plans to recruit close to 1,700 people during the course of the next year. It currently has 200 people on its rolls, Mr Milind Chalisgaonkar, the CEO of the company, said. Operating out of seven cities — Bangalore, Mumbai, Delhi, Ahmedabad, Hyderabad, Ludhiana and Chennai — the company plans to grow to

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-86081944173666225952008-08-14T13:12:00.002+05:302008-08-14T13:13:07.048+05:30

Mumbai: Aegon Religare Life Insurance Company is the 20th life insurance player to formally launch its operations in the country, CEO Rajiv Jamkhedkar said. The company will receive an initial capital infusion of Rs 370 crore this financial year the highest infusion any new life insurance entrant has received in the first year itself.Source: Business Standard

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-56099579325781749462008-08-14T13:12:00.001+05:302008-08-14T13:12:35.159+05:30

Chennai: Birla Sun Life Insurance has registered a business growth of 194 per cent in the first quarter of the current accounting period. Total annualised premium equivalent (APE) stood at Rs. 507.40 crore against Rs. 185.30 crore in the corresponding period in the previous year. According to a release, the first quarter has witnessed an expansion in distribution network.Source: The Hindu

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-50044526389137453742008-08-14T13:10:00.000+05:302008-08-14T13:11:31.974+05:30

Hyderabad: Max New York Life Insurance Company has launched a micro insurance product, Max Vijay, with a referral tie-up with the Confederation of NGOs for Rural India (CNRI) which provides savings and insurance at a premium range of Rs. 1,000-2,500. The policy term was 10 years and the policy-holders would be allowed partial withdrawal after three years.Source: The Hindu, Business Standard

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-27145152481789603282008-08-14T13:09:00.000+05:302008-08-14T13:10:35.192+05:30

Kattappana: Two insurance schemes will be implemented for labourers in the Below Poverty Line category in Idukki district, said an official press release here on Wednesday.Smart cardsUnder the schemes, named Desiya Swasth Insurance Scheme and Total Health Scheme, Smart Cards will be issued to insured labourers. The insured will be eligible to seek treatment at select hospitals for up to Rs.30,000

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-26999350858812849722008-08-14T13:08:00.001+05:302008-08-14T13:09:43.757+05:30

Udupi: Primary and Secondary Education Minister Vishweshwara Hegde Kageri has said he is committed to ensuring transparency in the functioning of Block Education offices and the offices of Deputy Directors of Public Instruction. He was speaking at the Education Conference organised by the Udupi District High School Headmasters’ and Pre-University College Prinicipals’ Association, here on

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-10008873826831770212008-08-14T13:07:00.001+05:302008-08-14T13:07:39.446+05:30

With the incidents of cyber crime on the rise especially in industries like banking, IT/ITES, BPO/KPO, the corporates have started opting for cyber crime insurance.Currently, some middle and large sized companies buy this insurance either as a standalone policy or bundled policy for covering cyber crime losses. The average amount insured starts from $5 million and goes up to $50 million and the

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-16003813070303858222008-08-14T12:02:00.000+05:302008-08-14T12:04:30.304+05:30

The newly-appointed Insurance and Regulatory Development Authority chairman, Mr J. Harinarayan, emphasised on the combination of life and non-life insurance policies in order to tap the grossly under-covered rural market. “There’s a need for greater customisation and offering greater choice to people in the low-income segment. The industry needs to show greater sympathy towards the

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-36399770114360275182008-08-14T12:01:00.000+05:302008-08-14T12:02:10.687+05:30

Mumbai: After the trust vote, there has been a lot of attention on the perceived efforts of the government to push critical economic legislation. One of these relates to pensions. There are many players in the financial sector who are hoping to see the legislation being enacted, even if for selfish reasons. A growing number of Indians, especially in the urban areas and bigger towns, thanks to

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-23152254434182609712008-08-14T12:00:00.000+05:302008-08-14T12:01:13.678+05:30

Mumbai: Online travel portal Makemytrip.com has tied up with Apollo DKV Insurance Company for a domestic travel insurance solution, a statement said on Tuesday. The new product called ‘Easy Domestic’ travel will cover travel-related risks of domestic airline passengers. The product would cover travellers against several travel contingencies like accidental death, emergency medical treatment, trip

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-40633243805074155022008-08-14T11:59:00.000+05:302008-08-14T12:00:24.539+05:30

Thiruvananthapuram: The State government will launch the proposed insurance scheme for fishing equipment of traditional fishermen, in Alappuzha on August 25. Minister for Fisheries and Registration S. Sarma said that two lakh fishermen would benefit from the scheme. The government had earmarked Rs. 1 crore for it in the budget. The insurance would cover 75 per cent of the cost of boats, engines

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-68844970502381195062008-08-14T11:56:00.000+05:302008-08-14T11:59:30.157+05:30

Mumbai: While warning of tough times ahead for non-life insurers, rating agency Icra On Tuesday said of the three key business segments, two portfolios – motor own damage and fire and engineering – have seen a deterioration in the claims situation.The biggest threat is going to come in the form of pricing pressure and the smaller players are expected to face the heat the most. The current pricing

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-83857360315590255012008-08-14T11:14:00.003+05:302008-08-14T11:15:30.932+05:30

Bangalore: Canara HSBC Oriental Bank of Commerce Life Insurance Company – a partnership of Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pacific) Holdings, has claimed it wrote over Rs 12 crore of annualized premiums in July 2008, the company’s first full month of business. Source: Business Standard

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-52250698795625297662008-08-14T11:14:00.002+05:302008-08-14T11:15:28.336+05:30

Bangalore: Canara HSBC Oriental Bank of Commerce Life Insurance Company – a partnership of Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pacific) Holdings, has claimed it wrote over Rs 12 crore of annualized premiums in July 2008, the company’s first full month of business. Source: Business Standard

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-81672822747528119662008-08-14T11:14:00.001+05:302008-08-14T11:14:42.656+05:30

Mumbai: Aegon Religare Life Insurance will receive a capital infusion of Rs 370 crore from its promoters in the first year of operation. The company, which launched operations over a month ago, is a joint venture between Religare, Aegon and Bennett and Coleman. It has started off with a capital base of Rs 200 crore.Mr Rajiv Jamkhedkar, CEO, Aegon Religare Life Insurance, said that the bulk of the

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-67368531735211820152008-08-14T11:13:00.001+05:302008-08-14T11:13:55.378+05:30

Hyderabad: For its radical new initiative 'Max Vijay,' Max New York Life Insurance has announced a referral tie-up with Confederation of NGOs of Rural India (CNRI), engaging around 6,000 NGOs working in rural India, as the company's corporate agents. In the first phase of this initiative, the company targets to sell more than 1.5 lakh Max Vijay policies through the reach provided by 150 NGOs,

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-86179102881904167512008-08-14T11:10:00.000+05:302008-08-14T11:13:02.332+05:30

Irda chairman J Harinarayan felt the need for a change in the mind-set of insurance companies with respect to the micro-insurance products, which have to be focused on the risks at the micro level than on the lower premiums.Speaking at the product launch meeting of Max New York Life here on Tuesday, Harinarayan said that the insurance companies should focus more on the risk cover than the lower

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-48616668914892770442008-08-14T11:08:00.000+05:302008-08-14T11:10:02.334+05:30

Hyderabad: The insurance sector is likely to become more crowded, with four companies, which are awaiting approval from the Insurance Regulatory and Development Authority (IRDA), starting operations.“We cannot share further details on the pending approvals. We have asked for some particulars and the moment they submit them, we will issue R1 licence (the first of three licences required to start

Shailesh Maloohttp://www.blogger.com/profile/10601025047496372322noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-62292908735105189622008-08-12T02:45:00.001+05:302008-08-12T02:45:53.098+05:30

Even as the finance minister plans to reach out to all parties and seek their support for the Pension Bill, his ministry is considering a proposal to throw open schemes floated by the public sector fund managers for government employees to all private citizens. According to government officials, the PFRDA had sought legal opinion from its advocate on the issue. “Legally, it does not pose any

Pankaj Parasharhttp://www.blogger.com/profile/11184803408552645554noreply@blogger.com0tag:blogger.com,1999:blog-772740784921398604.post-65096052697582784372008-08-12T02:44:00.000+05:302008-08-12T02:45:00.596+05:30

New Delhi: Aware of the precarious balance the UPA finds itself in Parliament and to ensure that pension reforms receive all party support, the finance ministry has compromised on four significant aspects of the Pension Fund Regulatory and Development Authority (PFRDA) Bill.According to government officials, the finance ministry has decided to include the 26 per cent cap on foreign direct

Pankaj Parasharhttp://www.blogger.com/profile/11184803408552645554noreply@blogger.com0