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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.

Volatile bond market may have minimal impact on GI cos' income

Last Updated: Sunday, August 25, 2013, 18:12

The volatile bond market will have a minimal impact on the investment income of general insurance players as most of them are likely to settle claims from incremental cash flows rather than redeeming bonds, say industry players.

IRDA for banks selling products of multiple insurers

Last Updated: Wednesday, July 10, 2013, 16:08

Insurance regulator IRDA on Wednesday indicated favouring banks to sell products of multiple insurance companies as the move would help deepen insurance penetration in the country.

Is higher FDI limit in insurance a threat for public sector insurers?

Last Updated: Friday, July 05, 2013, 12:47

The massive potential in the Indian life and non-life insurance sector has encouraged large private financial services companies to form joint ventures with global insurers.