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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.

Govt keen to push insurance Bill in Winter session

Last Updated: Sunday, October 27, 2013, 10:49

According to sources, the government is also looking at the possibility of allowing 23 percent FII investment, over and above the existing FDI ceiling of 26 percent in the sector.

Life insurance industry estimated to grow by 15% in next 5 yrs

Last Updated: Thursday, September 19, 2013, 19:23

The life insurance sector is estimated to grow by up to 15 percent annually over the next five years, mainly due to multiple regulatory and industry changes brought in over the past few years and due to favourable demographics of the country, an industry body said Thursday.

Biz practices, risk mgmt quality top insurance sector risks: PwC

Last Updated: Sunday, August 18, 2013, 16:58

Institutional risks such as business practices and quality of risk management are among the top risks that the Indian insurance industry at present faces, says consultancy firm PwC.

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.

Chidambaram asks insurance sector to focus on smaller towns

Last Updated: Friday, April 12, 2013, 19:02

As India remains among the most under-insured countries in the world, Finance Minister P Chidambaram on Friday asked the general insurance industry to spread awareness about the need for risk cover in smaller towns across the country.

Hope to get Insurance Bill passed soon: FM

Last Updated: Saturday, April 06, 2013, 18:43

Finance Minister P Chidmabaram on Saturday expressed the hope that Insurance Amendment Bill, which seeks to raise FDI cap in the sector to 49 percent, will be passed soon.

Canada's Manulife eyes Indian insurance market

Last Updated: Wednesday, April 03, 2013, 16:32

Indian insurance sector may see the entry of a new foreign player, as Canada's largest insurer Manulife Financial is actively studying this market to find a workable business model to set up shop here.

IRDA introduces File and Use procedure for life products

Last Updated: Tuesday, February 19, 2013, 22:03

To fast-track the approval mechanism, insurance sector regulator IRDA re-introduced the process of automatic clearance to life insurance products.

IRDA comes out with framework for monitoring insurance frauds

Last Updated: Tuesday, January 22, 2013, 22:21

IRDA on Tuesday came out with a framework for monitoring frauds in the insurance sector and asked insuers to carry out due diligence on their staff, including agents.

US looks forward to further opening of FDI in insurance: Powell

Last Updated: Thursday, November 08, 2012, 14:04

The US on Thursday said it is looking forward to India opening up its insurance sector further to foreign investors just as it has done in case of FDI in the retail sector.

Insurance sector needs $5-6 bn in immediate future: FM

Last Updated: Monday, October 08, 2012, 15:36

Making a strong case for raising FDI cap in insurance sector, Finance Minister P Chidambaram Monday said the industry requires USD 5-6 billion capital in the immediate run.