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Check misuse of user-id, password: CVC to banks, insurance firms

It was also noticed that the officers were not frequently changing their password. "

CCI imposes Rs 671 crore fine on four state-run insurers

Competition Commission has imposed a penalty of Rs 251.07 crore on New India Assurance, Rs 162.8 crore on National Insurance, Rs 156.62 crore on United India Insurance and Rs 100.56 crore on Oriental Insurance, respectively.

Insurers allowed to set up offices in SEZs

Domestic and foreign insurance companies have been allowed to set up IFSC Insurance Office in special economic zones if they meet certain conditions.

IRF turnover nears Rs 5 lakh cr-level in FY'15

The cash settled instrument, which was launched in the capital markets in January 2014, had recorded a turnover of Rs 39,944 crore during 2013-14.

Insurance cos settled 90% claims made after HudHud: IRDA

Insurance companies have settled almost 90 percent of over Rs 2,700 crore claims made after 'Hudhud' cyclone in Visakhapatnam last year, a senior Insurance Regulatory and Development Authority of India official said on Thursday.

Norms tightened for appointment of agents by insurers

Under the newly promulgated Ordinance, insurers cannot appoint any "principal agent, chief agent and special agent", neither they can transact any insurance business through them.

Growth eludes life insurers except some bank-promoted players

Those having seen growth in individual premiums in first half included ICICI Pru, HDFC Life, Max Life and Kotak Life.

Insurance firms may take a Rs 2,400-crore hit due to Hudhud

USA-based catastrophe modelling firm AIR Worldwide has estimated that insurance companies may take a hit of around Rs 2,400 crore due to Cyclone Hudhud which recently battered Andhra Pradesh and Odisha coasts.

General insurance wage talks tomorrow; many ready to join NPS

The Monday's wage negotiations will be the second round on the issue, as the first round had already taken place earlier during the year.

New disclosure norms expose insurers' policy-retention claims

Barring a few, such as ICICI Prudential, Reliance Life and Kotak Life, most of the life insurance companies have disclosed lower 'persistency ratios' for the first quarter of the current fiscal ended June 30, as also for the full financial year ended March 31, 2015.

General insurance firms want tax sops to boost health cover

Right now government is almost paying from tax payers' money for any losses out of natural disasters as people are not accustomed to buy such cover.

Forum takes serious note of insurance firms dragging cases

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

Chidambaram reviews performance of PSU insurance firms

Finance Minister P Chidamabram Monday reviewed the annual performance of state-owned insurance companies at a meeting with heads of life as well as non-life insurance firms here.

Insurance firms launching mobile apps to woo customers

According to industry experts, 65 percent of mobile users in the country access the internet through mobile phone and 40 percent of them are "active" data users.

Insurers, MFs await regulatory go-ahead for bond trading

Mutual funds and insurance firms are awaiting go-ahead from their respective regulators -- SEBI and IRDA -- with regard to their participation in the newly launched Interest Rate Futures (IRF) on stock exchanges.

Insurance firms lingering on settling claims: Consumer forum

Insurance firms are lingering on settlement of claims and using the money legally entitled to the insured for as long as they can, amounting to unfair trade practices, a consumer forum has held.

PSUs, insurance firms face tough time in consumer fora in 2012

Insurance firms and PSUs had to face some tough time in 2012 from the consumer fora which pulled up these entities for causing a rise in frivolous litigation.

Insurance firms being probed for evasion of service tax

Several insurance firms and companies are being probed for suspected evasion of service tax and recoveries have been made in some cases, Finance Minister P Chidambaram told Lok Sabha on Friday.

Govt to relax equity dilution norms for insurance firms

The government is likely to soon relax the norms for dilution of stake by Indian promoters of insurance companies, a move that will pave the way for Reliance Life to sell a 26 percent stake to Nippon of Japan.

IRDA releases norms for stake transfer by insurance firms

Insurance regulator IRDA on Friday made it mandatory for insurers to seek prior approval in case of stake transfer to domestic entities or financial institutions and set guidelines for seeking approval.