A typical scenario testing dynamic financial analysis generally take the following form :

The Insurance Regulatory and Development Authority (IRDA) has informed Online Sale of Insurance Policies is one of the ways of distribution of insurance policies.

India’s General Insurance Corp (GIC Re), the 15th largest re-insurer in the world, is planning to convert its Dubai office into a subsidiary as part of strengthening the Middle East and North Africa (Mena) business from which it generated premium worth $385mn.

Bharti AXA has launched Hospi Cash Benefit Rider — a product that provides a fixed amount in case of hospitalisation or surgery.

In a bid to increase awareness about non-life insurance products, the Insurance Regulatory and Development Authority (IRDA) along with the General Insurance Council (GICL) would be launching a consumer awareness advertising campaign. The pan-India advertisement campaign would be rolled out on television, radio and print in 11 different languages in a month’s time.

India will set up a special fund to provide insurance to public and private refineries to overcome obstacles from global re-insurers who are not providing cover to Indian oil companies because of sanctions against Iran.

Nokia India announced a unique partnership with New India Assurance (NIA), a leading global insurance group, wholly owned by the Govt. of India. The partnership will provide Nokia’s consumers the benefits of a highly affordable and comprehensive handset insurance plan to safeguard them against risks of mobile handsetloss and damage. This includes thefts, burglary, malicious acts, riots among others, as well as damage that is beyond the purview of the consumer’s standard warranty.

Insurance Regulatory and Development Authority (Investment) (Fifth Amendment) Regulations, 2013

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Order of the IRDA Under Section 14(2)(a) of IRDA ACT, 1999 read with Regulation 35(a) of IRDA (Insurance Brokers) Regulations, 2012

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Customers in smaller cities will have better access to insurance products, thanks to a number of proposals in the Budget 2013-14. Not only will they get insurance policies quicker, but they will also get serviced from multiple players.

Efma, a leading non-profit retail banking association, is organizing a cocktail briefing at Four Seasons Hotel on Wednesday 20 March 2013 starting 4.30 pm.

Bharti Axa General Insurance is hopeful of trimming its underwriting losses in the next financial year and increasing the investment income, a top executive said.

New insurance regulator TS Vijayan gives the sector no reason to party, companies are up in arms, they say that the new guidelines for insurance products threaten to hurt an already bleeding industry.

Independent rating agencies will now be allowed to evaluate unit linked insurance funds of insurance companies to help policyholders better assess and compare insurance products, according to the guidelines notified by the insurance regulator.

In his Budget speech, Finance Minister P Chidambaram proposed liberalising the insurance distribution network by allowing banks to act as brokers. However, chief executives (CEs) in the insurance sector say it would take a long time before this is implemented.

SKS Microfinance said it has paid Rs 50 lakh as penalty imposed by insurance regulator IRDA along with a request to file a review petition to drop the charge made against the company.

Pantaloon Retail (India) is trading higher by 2.3% at Rs 189 after the debt-ridden company said that it is planning to sell its 22.5% stake in Future Generali Life Insurance to Mumbai-based non-banking finance company Industrial Investment Trust Ltd (IITL).

Two years after official confirmation that the Railway Passenger Insurance Scheme has been discontinued, the Indian Railway's official website on Railway Claims Tribunal continues to misinform passengers that they are insured. Most railway officials too were unaware that the scheme ceased to exist years ago.

Life insurers will now have to inform unit linked insurance plan (Ulip) customers of the reduction in yield on a monthly basis.

Medical inflation is a cause of concern for each one of us today. India lags behind its global counterparts in offering a state sponsored health insurance system to a large section of the population. As a result, it has one of the highest out-of-pocket spends at 61 per cent, putting a lot of stress on family budgets in case of a medical treatment.

The Indian insurance industry is suffering a lot due to mis-selling of insurance products. Due to short term gain some scrupulous advisers, Brokers, lead generating agencies, websites are mis-selling life insurance policies with a bang.  In an industry that is growing its wing slowly to tap huge uncovered population, this is perhaps the last thing the industry would want.

Jointly organized on 2nd March 2013 at Kolkata By Indian Insurance Society, Insurance Institute of India and University of Calcutta

Interview with Mr. Mohammed Sadullah Khan, Senior Faculty Member, Insurance Studies Unit, The Institute of Banking, Saudi Arabia, Conducted by S G Afzal Biya Bani, Resident Editor, The Insurance Times, Saudi Arabia

The MDRT, the premier association of leading financial professionals organized their annual conference in Hyderabad from 21-23 February 2013.

The Insurance Regulatory and Development Authority (IRDA) has re-worked the investment norms for insurance companies.

Don’t be surprised if your life insurance agent pitches a pure term plan and the not the usual endowment, unit-linked and index-linked insurance products.

Finance minister P Chidambaram’s Budget proposal to allow business correspondents to sell micro-insurance products in rural India is well-intentioned, as it would get more uninsured people on board.

With insurance companies having given an ultimatum to Indian oil entities about not extending cover to domestic refineries processing oil from Iran, they may soon be forced to stop crude imports from the Islamic nation, though supplies from that country have substantially come down since past more than a year.

A key committee of the insurance regulator has suggested halving of the compulsory reinsurance that Indian companies place with public sector GIC Re. This will create a larger business space for private and foreign reinsurance firms in the country.

It’s going to be a new ball game, albeit limited, for third party administrators (TPAs), entities that act as an intermediary between insurers and policyholders in processing insurance claims. Under the new set of health regulations laid down by the Insurance Regulatory and Development Authority (IRDA), the functions and roles of TPAs have been clearly defined, which on the face of it look more restrictive than earlier.