Kotak Mahindra Gen Insurance gets IRDAI nod to commence biz

Kotak General Insurance has received permission to underwrite all classes of general insurance business (including health insurance).

'Public sector insurance firms defeating govt's objectives'

The apex consumer commission has imposed a punitive cost of Rs 10 lakh on a public sector insurance company for wrongly denying claims of several people, saying such firms "are always at their best in defeating noble objectives of any welfare scheme".

Actor Jagathy gets Rs 5.90 crore as mishap compensation

Two-and-a-half years after he met with a crippling road accident that cut short his career, veteran Malayalam film actor Jagathy Sreekuamar was today awarded Rs 5.90 crore by a private insurance company as compensation.

Oriental Insurance Company celebrates 67th Foundation Day

Oriental Insurance Company is celebrating 67th years of excellence on Saturday. It was first established on 12th September 1947.

Standard Life says sells Canadian assets for £2.2bn

British financial services provider Standard Life has agreed to sell its Canadian activities to Manulife of Canada for £2.2 billion ($3.6 billion, 2.8 billion euros), it said on Thursday.

Keenly watching developments over Insurance Bill: Metlife

The Insurance Amendment Bill is pending passage in Parliament as several opposition parties, including Congress, are opposing the Bill in its present form.

Maxlife Insurance launches new customer centric initiative

The share of life insurance as part of personal finance portfolio is declining and its penetration has also been adversely affected.

Max Life Insurance launches two products

Private sector life insurance company Max Life Insurance has launched two new products, a company release said.

General insurance industry logs 19% growth in April-Feb period

The general insurance industry grew by 19.34 percent in the 11 months of 2012-13 fiscal led by SBI General which recorded over three-fold growth in gross premium as compared to last fiscal.

India First Life Insurance expects to break even by 2015-16

India First Life Insurance expects to break even in 2015-16, two years ahead of the original deadline, a senior company official said Sunday.

IRDA seeks explanation from 3 insurers on money laundering

Taking note of a sting operation that alleged money laundering in leading private banks, insurance regulator IRDA today said it has sought explanations from CEOs of HDFC Life, ICICI Pru and Max Life.

Non-Life insurance cos unlikely to hit IPO street soon: GIC

Non-life insurers are unlikely to hit the capital market to raise resources and are expected to wait for a year or two because of weak financials, a top official of an insurance company said on Friday.

Insurer can`t compensate if victim responsible for mishap: HC

An insurance company cannot be held liable to compensate a road mishap victim or his family if the accident takes place because of his negligence.

'Insurance policy mis-selling among top complaints'

Mis-selling of insurance policies and delay in claim settlements top the list of 2,341 complaints lodged by aggrieved customers with the Chandigarh Insurance Ombudsman.

NPS throws great opportunity for insurers: PFRDA

Despite the National Pension System (NPS) throwing up a large opportunity to life insurers, there are not enough players in the system to take advantage of this, the pension fund regulator PFRDA Monday said.

Insurance Co can't go back on policy once its issued

Once an insurance company has issued a policy, it cannot later reject the insured person's claim on the ground that cover was given in violation of terms and conditions, the Delhi State Consumer Commission has ruled.

Japan's Mitsui acquires 26% stake in Max insurance venture

Diversified business group Max India Thursday said Japan's Mitsui Sumitomo Insurance Company (MSI) will acquire 26 percent stake in Max New York Life Insurance.

Raj: CBI raids at insurance company`s manager

The CBI raided the premises of
of a state-owned insurance company`s senior manager for allegedly committing fraud.

‘Insurance co responsible for ascertaining cause of fire’

A consumer court has said the
primary responsibility of ascertaining the cause of fire in an
incident is that of an insurance company for the purpose of
settling the claim.