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FinMin looking at insurance funding without raising FDI cap

Last Updated: Thursday, May 29, 2014, 21:08

The Finance Ministry is looking at ways in which private insurance companies can be allowed to raise more funds without hiking the foreign direct investment cap in the sector to 49 percent.

Forum takes serious note of insurance firms dragging cases

Last Updated: Tuesday, May 13, 2014, 14:22

A consumer forum here has taken a serious note of insurance companies not entertaining claims and dragging cases by repeatedly taking adjournments.

FM to meet chiefs of PSU banks, insurance cos on May 12-13

Last Updated: Sunday, May 11, 2014, 12:47

In his last meeting as Finance Minister in UPA II government, P Chidamabram will hold discussions on various issues with heads of public sector insurance companies and state-owned banks on Monday and Tuesday, respectively.

Are there guidelines for TPA to recommend claims, HC asks IRDA

Last Updated: Friday, March 21, 2014, 20:29

The Bombay High Court on Friday asked Insurance Regulatory and Development Authority (IRDA) to check whether the insurance companies had issued guidelines to third party administrators (TPA) on how to recommend claims amounts for mediclaim and health insurance policies.

LIC's claim settlement better than pvt insurers: Irda

Last Updated: Thursday, January 02, 2014, 15:41

Private insurance companies fared poorly in terms of settlement of death claims in 2012-13 as compared to state-owned LIC, says sectoral regulator Irda.

Irda to charge tax on providing services to players

Last Updated: Wednesday, January 01, 2014, 20:33

Insurance regulator Irda will charge service tax from industry players on providing services such registration and renewal.

Adopt reasonable font size in policy forms: IRDA to insurers

Last Updated: Tuesday, December 10, 2013, 22:33

Insurance regulator IRDA Tuesday asked all insurers to adopt a reasonable font size so that the policy holders are not at discomfort while reading forms.

GICA to seek support of public against Insurance Bill

Last Updated: Saturday, November 23, 2013, 19:50

The General Insurance Employees' Association will seek support of the public, particularly over 30 crore policyholders, to defeat the government move to pass the Insurance Bill in Parliament, which would adversely affect the public insurance sector, a top association official said.

HC notice to 25 insurance cos on PIL asking pre-packaged rates

Last Updated: Tuesday, October 22, 2013, 19:42

The Bombay High Court Tuesday issued notices to 25 non-life insurance companies on a PIL seeking pre-packaged compensation for 42 ailments, covered under medical insurance policies, on the basis of sum insured and on the type of the hospital.

Insurance biz in India may touch Rs 4 lakh cr in FY14: IRDA

Last Updated: Tuesday, October 08, 2013, 17:40

Insurance watchdog IRDA Tuesday said it estimates the insurance business in India to touch Rs 4 lakh crore in the current fiscal.

Private insurers cut down on branches; LIC ups the ante

Last Updated: Sunday, September 15, 2013, 13:50

The number of branches operated by life insurers across India has come down by over 10 percent in the last two years, primarily because of branch closures by private players even as state-run LIC expanded its footprint.

Customer complaints rise against insurers by over 10%

Last Updated: Sunday, September 01, 2013, 17:44

Customer complaints against life insurance companies rose by nearly 10 percent to over 3.41 lakh in the last fiscal, with state-run LIC and private players like Birla Sunlife and Bajaj Allianz accounting for a large portion of grievances.