New India Assurance launches insurance products in Dubai

The New India Assurance Company Ltd has launched health insurance products catering to individuals and families in Dubai and Northern Emirates.

Clearly mention conditions, benefits of insurance products: IRDA

To help consumers guard against bogus claims being made by insurers, sector regulator IRDA has said the companies will have to clearly define conditions along with benefits and riders of products to customers.

'Hike in FDI cap in insurance will help sector's growth'

The proposed hike in Foreign Direct Investment (FDI) cap from 26 percent to 49 percent in the insurance sector will lead to higher growth of the industry, a top official of United India Insurance company said on Wednesday.

CCI rejects complaint against insurance regulator Irda

Fair trade watchdog CCI has rejected charges that insurance regulator Irda's rules, which grant of corporate agency license to banks to sell insurance products, are anti-competitive.

'Multiple policies for basic cover affecting insurance spread'

A single comprehensive policy covering basic insurance requirements like life and health will help penetration of insurance products as multiple policies for various covers are cumbersome, Irda chief T S Vijayan said today.

Life insurers line up 500 schemes for launch next year

As many as 500 new insurance schemes are all set to hit the market in the next couple of months, following the approval of industry regulator IRDA as part of its new guidelines applicable from January 1, 2014.

Standard protocol needed for affordable insurance products: IRDA

Absence of a standard protocol for treatment has led to lack of uniformity in cost of treatments and there is a need to make affordable insurance products, a member of the insurance sector regulator IRDA said on Monday.

Banks can only sell standard insurance products through branch

Banks will be allowed to sell only standard or vanilla insurance products through their branches following the relaxation of brokerage norms by the sectoral regulator IRDA, said a finance Ministry official.

IRDA to cos: File product planner to expedite approval process

IRDA Monday asked insurers to mandatorily file a product planner in a prescribed format at least 45 days before the beginning of every financial year with a view to reduce the timelines for giving approvals to insurance products.

IRDA working on 10 standard insurance products

Sector regulator IRDA on Wednesday said it will develop 10 standard products in consultation with industry bodies which can be launched by the insurance companies without seeking regulatory nod.

Insurance industry need to innovate, simplify products: Study

India's insurance industry needs to innovate, simplify products and build trust amongst the customers through effective distribution claims management in order to ensure growth in the sector, a study said Sunday.

Urban Indians have low awareness for insurance products: Survey

Urban Indians are not very aware about insurance products and their investment planning is not aligned with their current needs, according to a survey by private insurer HDFC Life.