DOCTRINE OF SUBROGATION

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Created on 29 January 2013 Last Updated on 14 March 2013 Published Date
Written by Bimabazaar- Adminstrator

Importance

Doctrine of subrogation is one of the most important ingredient and essential features of the principles of Indemnity, which, distinguish an ordinary commercial contract from an insurance contract. This is one of the additional features of contract of indemnity not found in other contracts.

Introduction

A contract of insurance is a contract of indemnity. Each and every contract of indemnity had the elements of subrogation, which is based on the fundamental principle that in case of loss, the insured shall be indemnified to the extent of loss and nothing beyond the loss.

Thus, the doctrine of subrogation is an automatic, inbuilt, inherent, implied and incidental to the principles of indemnity, applicable to all property and liability insurance but not applicable to personal accident and life insurance policies, since these are not contract of indemnity. Every rule of insurance law is adapted to carry out this fundamental rule.

Property and liability insurance are based on the principle of indemnity-an insured should not be allowed to profit from his losses. If an insured could sue and collect damages for a loss and collect insurance for the same loss, then the insured would profit from the loss.

Subrogation prevents this. Subrogation in insurance is the substitution of the insurer as a claimant for a loss suffered by the insured. Thus, the right to sue for the losses sustained by the insured is transferred to the insurance company, which can seek reimbursement for the payment to the insured from the party who caused the loss.

Concept

The loss/damage to the goods covered by a policy of insurance, may be caused either due to an act for which the owner (assured) may not have a remedy against any third party (as for example when the loss is on account of an act of God) or due to a wrongful act of a third party, for which he may have a remedy against such third party (as for example where the loss is on account of negligence of the third party).

In both cases, the assured can obtain reimbursement of the loss, from the insurer. In the first case, neither the assured, nor the insurer can make any claim against any third party. But where the damage is on account of negligence of a third party, the assured will have the right to sue the wrongdoer for damages; and where the assured has obtained the value of the goods lost from the insurer in pursuance of the contract of insurance, the law of insurance recognizes as an equitable corollary of the principle of indemnity that the rights and remedies of the assured against the wrong-doer stand transferred to and vested in the insurer. The equitable assignment of the rights and remedies of the assured in favour of the insurer, implied in a contract of indemnity, known as `subrogation', is based on two basic principles of equity:

  • No tort-feasor should escape liability for his wrong;
  • No unjust enrichment for the injured, by recovery of compensation for the same loss, from more than one source.

The doctrine of subrogation will thus enable the insurer, to step into the shoes of the assured, and enforce the rights and remedies available to the assured.

Origin

The term subrogation is derived from latin term sub (under) and rogare (to ask). The denovative sense has been transmuted from an asking under to a substitution or succession with respect to the right of payment.

Meaning

While, Universal Dictionary, provides the meaning of the word subrogation as 'The substitution of one person for another especially for one creditor for another', Legal & Commercial Dictionary, by A. N. Saha, 5th Edition, Eastern Law House provides the same as 'The substitution of another person in place of a creditor to whose rights he succeeds in relation to the debt.'

"Subrogation simply means substitution of one person for another; that is, one person is allowed to stand in the shoes of another and assert that person's rights against the defendant. Factually, the case arises because, for some justifiable reason, the subrogation plaintiff has paid a debt owed by the defendant."

Dan B. Dobb's Law of Contract (2nd Edn. - # 4.3 at 404)

Thus, in its literal sense, subrogation is the substitution of one person for another, however, so far as the insurer is concerned Subrogation means 'acquirement by underwriters on settling a loss of their rights and remedies of the insured in the thing insured. The term really means "standing in the shoes of another'.

Business terms and phrases and Abbreviations by D. W. Fiddes, 14th Edition, Pitman Publishing

The term `subrogation' in the context of insurance, has been defined in Black's Law Dictionary thus :

"The principle under which an insurer that has paid a loss under an insurance policy is entitled to all the rights and remedies belonging to the insured against a third party with respect to any loss covered by the policy."

The doctrine of subrogation confers upon the insurer the right to receive the benefit of such rights and remedies as the assured has against third parties in regard to the loss to the extent that the insurer has indemnified the loss and made it good. The insurer is, therefore, entitled to exercise whatever rights the assured possesses to recover to that extent compensation for the loss, but it must do so in the name of the assured.

Subrogation as defined under marine insurance act, 1963

Right of Subrogation' is statutorily recognized and described in section 79 of the Marine Insurance Act, 1963 as follows:

  • Where the insurer pays for a total loss, either of the whole, or in the case of goods of any apportionable part, of the subject- matter insured, the thereupon becomes entitled to take over the interest of the assured in whatever may remain of the subject-matter so paid for, and he is thereby subrogated to all the rights and remedies of the assured in and in respect of that subject-matter as from the time of the casualty causing the loss.
  • Subject to the foregoing provisions, where the insurer pays for a partial loss, he acquires no title to the subject matter insured, or such part of it as may remain, but he is thereupon subrogated to all rights and remedies of the assured and in respect of the subject 1 matter insured as from the time of the casualty causing the loss, in so far as the assured has been indemnified, according to this Act, by such payment for the loss".

Characteristics

The characteristics of subrogation are aligned with the principle and purpose of insurance, which is to cover losses suffered by the insured.

Every contract of Marine or Fire insurance is a contract of indemnity and of indemnity only, the meaning of which is that the assured in case of lose is to receive a full indemnity but is never to receive more. Every rule of Insurance Law is adapted in order to carry out this fundamental rule and if ever any proposition is brought forward the affect of which is adopted  in order to carry out this fundamental rule and if ever any proposition is brought forward the effect of which is opposed to this fundamental rule, it will be found to be wrong……. The doctrine in Marine Insurance Law of Constructive Total Loss is adopted solely in order to carry out the fundamental rule. It is a doctrine which is in favour of the assured, because where the loss is not an actual total loss but in what as a matter of business treated as equivalent to a total loss, this rule is adopted to carry out the fundamental doctrine and give the assured a full indemnity.

Grafted on this doctrine came the doctrine of abandonment, which is only applicable to cases of CTL and is introduces in favour of the underwriter so that they may have to pay no more than an indemnity. So it appears that these two doctrine were introduced in order to carry out the two limits of the fundamental doctrine, namely that the assured shall get a full indemnity and that he shall got no more. Castellain vs. Preston and others : (1881-5) All ER Rep 483  : (1883) 11 QBD 380CA

An assured under a policy insuring him against loss or damage to a chattel on being indemnified by his insurers for a loss he has sustained does not thereby loss his right of action against the wrongdoer who caused the loss. Under the doctrine of subrogation he must bring an action against the wrongdoer if he is called on by his insurer to do so and is indemnified against the cost. But it is his own cause of action not that of his insurer that he sue on as against the wrongdoer the insurer has no cause of action of his own. Hobbs vs. Marlowe (1977) 2-241 HL

Practice

Subrogation is an equitable assignment, is inherent, incidental and collateral to a contract of indemnity, which occurs automatically, when the insurer settles the claim under the policy, by reimbursing the entire loss suffered by the assured.

It need not be evidenced by any writing. But in practice, to avoid any dispute with the assured as to the right of subrogation and extent of its rights, the insurer usually reduce the terms of subrogation into writing  in the form of a letter of subrogation which enables and authorizes the insurer to recover the amount settled and paid by the insurer, from the third party wrong-doer as a subrogee-cum-attorney.

In India, insurance companies statutory corporations and banks use standardized forms to cover all types of situations and circumstances and several of the clauses in such forms may be wholly inapplicable to the transaction intended to be covered by the document. As a result of which many a times the subrogation is construed as an assignment of actionable claim.

Law is well settled to the effect that, when the insurer obtains an instrument from the assured on settlement of the claim, whether it will be a deed of subrogation, or subrogation-cum-assignment, would depend upon the intention of parties as evidenced by the wording of the document.

The title or caption of the document, by itself may  not be conclusive. It is possible that the document may be styled as subrogation but may contain in addition an assignment in regard to the balance of the claim in which event it will be a deed of subrogation-cum-assignment.

It may be a pure and simple subrogation but may inadvertently or by way of excessive caution use words more appropriate to an assignment. If the terms clearly show that the intention was to have only a subrogation, use the words "assign" transfer and abandon in favour of would  in the context be construed as referring to subrogation and nothing more.

Types

In view of the foregoing, subrogation can be broadly classified into three categories:

  1. subrogation by equitable assignment;
  2. subrogation by contract; and
  3. subrogation-cum- assignment.

In the first category, the subrogation is not evidenced by any document, but is based on the insurance policy and the receipt issued by the assured acknowledging the full settlement of the claim relating to the loss.

Where the insurer has reimbursed the entire loss incurred by the assured, it can sue in the name of the assured for the amount paid by it to the assured. But where the insurer has reimbursed only a part of the loss, in settling the insurance claim, the insurer has to wait for the assured to sue and recover compensation from the wrongdoer; and when the assured recovers compensation, the assured is entitled to first appropriate the same towards the balance of his loss (which was not received from the insurer) so that he gets full reimbursement of his loss and the cost, if any, incurred by him for such recovery. The insurer will be entitled only to whatever balance remaining, for reimbursement of what it paid to the assured.

In the second category, the subrogation is evidenced by an instrument. To avoid any dispute about the right to claim reimbursement, or to settle the priority of inter-se claims or to confirm the quantum of reimbursement in pursuance of the subrogation, and to ensure co-operation by the assured in suing the wrongdoer, the insurer usually obtains a letter of subrogation in writing, specifying its rights vis-`-vis the assured. The letter of subrogation is a contractual arrangement which crystallizes the rights of the insurer vis-`-vis the assignee. On execution of a letter of subrogation, the insurer becomes entitled to recover in terms of it, a sum not exceeding what was paid by it under the contract of insurance by suing in the name of the assured.

Even where the insurer had settled only a part of the loss incurred by the assured, on recovery of the claim from the wrongdoer, the insurer may, if the letter of subrogation so authorizes, first appropriate what it had paid to the assured and pay only the balance, if any, to the assured.

The third category is where the assured executes a letter of subrogation-cum-assignment enabling the insurer retain the entire amount recovered (even if it is more than  what was paid to the assured) and giving an option to sue in the name of the assured or to sue in its own name.

In all three types of subrogation, the insurer can sue the wrongdoer in the name of the assured. This means that the insurer requests the assured to file the suit/complaint and has the option of joining as co-plaintiff. Alternatively the insurer can obtain a special power of Attorney from the assured and then to sue the wrongdoer in the name of the assured as his attorney.

The assured has no right to deny the equitable right of subrogation of the insurer in accordance with law, even whether there is no writing to support it. But the assured whose claim is settled by the insurer, only in respect of a part of the loss may insist that when compensation is recovered from the wrongdoer he will first appropriate the same, to recover the balance of his loss.

The assured can also refuse to execute a subrogation-cum-assignment which has the effect of taking away his right to receive the balance of the loss. But once a subrogation is reduced to writing, the rights inter-se between the assured and insurer will be regulated by the terms agreed, which is a matter of negotiation between the assured and insurer.

Analysis :

For illustration, when the loss to the assured is Rs.1,00,000/-.    The insurer settles the claim of the assured for Rs.75,000/-.       The wrong-doer is sued for recovery of Rs.1,00,000/-.

 

  1. If the suit filed for recovery of Rs.100,000/- is decreed as prayed, and the said sum of Rs.1,00,000/- is recovered, the assured would appropriate Rs. 25,000/- to recover the entire loss of Rs. 100,000/- and the doctrine of subrogation would enable the insurer to claim and receive the balance of Rs.75,000.
  2. If the suit filed for recovery of Rs.100,000/- is decreed as prayed for, but the assured is able to recover only Rs.50,000/- from the Judgment-Debtor (wrong-doer), the assured will be entitled to appropriate Rs.25,000/- (which is the shortfall to make up Rs.100,000/- being the loss) and the insurer will be entitled to receive only the balance of Rs. 25,000/- even though it had paid Rs. 75,000/- to the assured.
  3. Where, the suit is filed for recovery of Rs.100,000/- but the court assesses the loss actually suffered by the assured as only Rs.75,000/- (as against the claim of the assured that the value of goods lost is Rs.100,000/-) and then awards Rs.75,000/- plus costs, the insurer will be entitled to claim and receive the entire amount of Rs.75,000/- in view of the doctrine of subrogation. Where the assured executes a letter of subrogation entitling the insurer to recover Rs. 75,000/- (The suit is filed in the name of the assured or jointly by the assured and insurer).
  4. If the suit is filed for recovery of Rs.1,00,000/-, and if the court grants Rs.1,00,000/-, the insurer will take Rs.75,000/- and the assured will take Rs.25,000/-.
  5. If the insurer sues in the name of the assured for Rs.75,000/- and recovers Rs.75,000/-, the insurer will retain the entire sum of Rs.75,000/- in pursuance of the Letter of Subrogation, even if the assured has not recovered the entire loss of Rs.1,00,000/-. If the assured wants to recover the balance of the loss of Rs.25,000/- as he had received only Rs. 75,000/- from the insurer, the assured should ensure that the claim is made against the wrongdoer for the entire sum of Rs.100,000/- by bearing the proportionate expense. Otherwise the insurer will sue in the name of the assured for only for Rs. 75,000;/-.
  6. If the letter of subrogation executed by the assured when the insurer settles the claim of the assured uses the words that the "assured assigns, transfers and abandons 3 unto the insurer, the right to get Rs.75,000/- from the wrong-doer", the document will be a `subrogation' in spite of the use of words `transfers, assigns and abandons'. This is because the insurer has settled the claim for Rs.75,000/- and the instrument merely entitles the insurer to receive the said sum of Rs.75,000/- which he had paid to the assured, and nothing more.  Where the assured executes a letter of subrogation-cum- assignment for Rs.100,000/- .
  7. If the document executed by the assured in favour of the insured provides that in consideration of the settlement of the claim for Rs.75,000/-, the assured has transferred and assigned by way of subrogation and assignment, the right to recover the entire value of the goods lost and retain the entire amount without being accountable to the assured for any excess recovered (over and above Rs.75,000/-) and provides that the insurer may sue in the name of the assured or sue in its own name without reference to the assured, the instrument is a subrogation-cum-assignment and the insurer has the choice of either suing in the name of the assured or in its own name. Where the assured executes a letter of assignment in favour of a third party to sue and recover from the carrier, the value of the consignment.
  8. If the assured, having received Rs.75,000/- from the insurer, executes an instrument in favour of a third party (not being the insurer) assigning the right to sue 3 and recover from the carrier, damages for loss of the consignment, such a document will be an Assignment. The assignee cannot file a complaint before the consumer fora, as he is not a `consumer'. Further, such a document being a transfer of a mere right to sue, will be void and unenforceable, having regard to section 6(e) of Transfer of Property Act, 1882. It is well settled that a right to sue for unliquidated damages for breach of contract or for tort, not being a right connected with the ownership of any property, nor being a right to sue for a debt or actionable claim, is a mere right to sue and is incapable of being transferred.

 

Conclusion:

The principles relating to subrogation can therefore be summarized thus :

 

  1. Equitable right of subrogation arises when the insurer settles the claim of the assured, for the entire loss. When there is an equitable subrogation in favour of the insurer, the insurer is allowed to stand in the shoes of the assured and enforce the rights of the assured against the wrong- doer.
  2. Subrogation does not terminate nor puts an end to the right of the assured to sue the wrong-doer and recover the damages for the loss. Subrogation only entitles the insurer to receive back the amount paid to the assured, in terms of the principles of subrogation.
  3. Where the assured executes a Letter of Subrogation, reducing the terms of subrogation, the rights of the insurer vis-`-vis the assured will be governed by the terms of the Letter of Subrogation.
  4. A subrogation enables the insurer to exercise the rights of the assured against third parties in the name of the assured. Consequently, any plaint, complaint or petition for recovery of compensation can be filed in the name of the assured, or by the assured represented by the insurer as subrogee-cum-attorney, or by the assured and the insurer as co-plaintiffs or co-complainants.
  5. Where the assured executed a subrogation-cum- assignment in favour of the insurer (as contrasted from a subrogation), the assured is left with no right or interest. Consequently, the assured will no longer be entitled to sue the wrongdoer on its own account and for its own benefit. But as the instrument is a subrogation- cum-assignment, and not a mere assignment, the insurer has 3 the choice of suing in its own name, or in the name of the assured, if the instrument so provides. The insured becomes entitled to the entire amount recovered from the wrong- doer, that is, not only the amount that the insured had paid to the assured, but also any amount received in excess of what was paid by it to the assured, if the instrument so provides.

 

Afterthought:

It should be borne in mind, that a document should be transaction-specific. Or at least an effort should be made to delete or exclude inapplicable or irrelevant clauses. But where a large number of documentation is required to be done by officers not- conversant with the nuances of drafting, use of standard forms with several choices or alternative provisions is found necessary.

The person preparing the document is required to delete the terms/clauses which are inapplicable. But that is seldom done. The result is that the documents executed in standard forms will have several irrelevant clauses.

Computerisation and large legal departments should have enabled insurance companies, banks and financial institutions to (i) improve their documentation processes and omit unnecessary and repetitive clauses; (ii) avoid incorporation of other documents by vague references; and (iii) discontinue pasting or annexing of slips. But that is seldom done. If documents are clear, 4 specific and self-contained, disputes and litigations will be considerably reduced.

By: M. K. DAS, B.A.Hon's & Distinction, B.Ed, M. A., L.L.B., Dip in Cyber Law, Law Officer, New India Assurance Company Ltd.,  Mumbai, Published in “The Insurance Times” October, 2012

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      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Effective risk management, depends to...

      Effective risk management truly depends to a large extent on the use of probability...

 Top small cars are prone to life threatening road accidents
Top small cars are prone to life...

Small cars from some of the leading brands sold in India has failed miserably in crash cases...

Free insurance cover to Amarnath pilgrims
Free insurance cover to Amarnath...

All pilgrims that hold valid permits for this year's Amarnath Yatra will be provided a free...

Bihar govt plans  insurance scheme for panchayat representatives
Bihar govt plans insurance scheme...

Panchayati Raj and Rural Works Department Minister of Bihar, Bhim Singh stated recently that the...

Frequently Asked Questions about Insurance Repository
Frequently Asked Questions about...

  1. What is Insurance Repository? “Insurance Repository” means a company formed and registered...

Swiss Re earns profit of USD 4.4 billion for 2013
Swiss Re earns profit of USD 4.4...

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by...

Future Generali India Life Insurance receives ISO 9001:2008 certification
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited, a joint venture between Future Group - the...

How insurers in Asia can help consumers meet their increasing needs for medical insurance products and services
How insurers in Asia can help...

All markets surveyed in this study (China, Hong Kong, India, Indonesia, Malaysia and Thailand)...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

Future Generali India Insurance, a joint venture between Future Group - the leading retailer of...

IRDA: Implementation of Standard Proposal form for Life Insurance
IRDA: Implementation of Standard...

After examining various representations received from Life Insurance Industry, the competent...

Guidelines for Individual Agents for Persistency of Life Insurance Policies
Guidelines for Individual Agents for...

IRDA has issued some modifications for persistency of Life Insruance Policies. In modification of...

Maples Publication,Belgharia, Kolkata...

  Please beware of duplicate books/study materials from Maples Publication, kolkata which is a...

Future Generali insures Mangal Navratri 2013 with Falguni Pathak and her troupe
Future Generali insures Mangal...

Future Generali India Insurance Company Ltd. is one of the leading insurers who offer insurance...

RELIANCE LIFE INSURANCE AMONGST FIRST FEW PRIVATE INSURERS TO OFFER INSURANCE POLICIES IN ELECTRONIC DEMAT FORM
RELIANCE LIFE INSURANCE AMONGST FIRST...

Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, today announced the...

Chola MS raises additional Rs. 75 crore capital for business growth and expansion
Chola MS raises additional Rs. 75...

Cholamandalam MS General Insurance Company Limited, a joint venture between Murugappa Group and...

National Seminar on ‘Big data to Predictive Analytics – Future of Healthcare’ conducted by PHD Chamber
National Seminar on ‘Big data to...

The PHD Chamber of Commerce and Industry organized a Seminar on Big data to Predictive Analytics...

 Now cops under medical insurance cover
Now cops under medical insurance cover

The death of Lal Bahadur Lohar, the State Intelligence Bureau  (SIB)constable who was deputed to...

IRDA considering  health policies with 5 years span
IRDA considering health policies...

IRDA is considering a proposal to allow five year policies with the hope to  improve the health...

Now, demat insurance covers under one folioR
Now, demat insurance covers under one...

Now all policies be it life, health or motor can be dematerialized and maintained under a single...

 As auto skids in downturn, insurers feel the pinch
As auto skids in downturn, insurers...

With the decrease in demand for passenger cars due to the economic slowdown the insurance majors...

Natural disasters drive demand for property insurance in South Africa
Natural disasters drive demand for...

Property insurance, the largest category in the South African non-life insurance industry, is...

Max Life eyes traditional plans
Max Life eyes traditional plans

With customers moving towards more secure returns because of volatile stock market, Max Life...

Health insurers adopting co-payment model to cut costs
Health insurers adopting co-payment...

In a bid to ensure optimal utilization of benefits by policyholders, employers are increasingly...

Get instant health claims authorisation by card swipe
Get instant health claims...

Gone are the days when health insurance policy holders have to wait for their hospitals to get a...

IRDA drafts  stricter  regulations  to stop insurance agents from selling ponzi plans
IRDA drafts stricter regulations ...

With the bust of the Saradha scam,  the Insurance Regulatory Development Authority has come out...

New India Assurance in expansion mode; to recruit more  agents
New India Assurance in expansion...

Planning to expand its business, New India Assurance is in the process of recruiting 500 officers...

Ebook on Insurance Ombudsman Decided Judgements
Ebook on Insurance Ombudsman Decided...

Presenting for the first time in India a compilation of all the judgements by Insurance Ombudsman...

Cigna TTK Health Insurance expands in 5 more cities
Cigna TTK Health Insurance expands in...

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna...

Bharti AXA Life launches ‘Elite Advantage’
Bharti AXA Life launches ‘Elite...

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises...

Go Paper less ! Secure all your Policies in electronic Insurance A/c (eIA), With SHCIL Insurance Repository (SHCIL-IR) absolutely FREE OF COST
Go Paper less ! Secure all your...

eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the...

Karnataka Vikas Grameena Bank tiesup with IndiaFirst Life to offer insurance products
Karnataka Vikas Grameena Bank tiesup...

Karnataka Vikas Grameena Bank (KVGB) owned by Government-Sponsored by Syndicate Bank, one of the...

Future Generali India Life Insurance launches the Care Plus Plan
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future...

Solved Paper for General Insurance Accounts and Regulation of Investment IC46 for associateship
Solved Paper for General Insurance...

Launching of Guide Book for IC46 Plus Mock Test                   Guide...

Get FREE E-Insurance Account
Get FREE E-Insurance Account

You have been enjoying the benefits of Demat account and would have experienced the ease and...

2014 Budget Speech Extracts of Sri Arun Jaitely, Finance Minister, India relating to Direct Tax Proposals
2014 Budget Speech Extracts of Sri...

I do not propose to make any change in the tax rate.  However, with a view to provide relief to...

Budget 2014 - Highlights for Insurance Sector
Budget 2014 - Highlights for...

Budget Speech By Sri Arun Jaitely, Finance Minister The Insurance sector is investment starved....

Budget Reactions from Future Generali India
Budget Reactions from Future Generali...

“The budget announcement on increasing FDI cap in insurance to 49% is a positive step forward. We...

Budget Reaction - Mr. Antony Jacob, CEO, Apollo Munich Health Insurance
Budget Reaction - Mr. Antony Jacob,...

Today's Union Budget speech has certainly brought good news for the insurance sector by the...

Future Generali India Insurance ties up with Punjab & Maharashtra Co-operative Bank
Future Generali India Insurance ties...

Future Generali India Insurance, a joint venture between India’s leading retailer Future Group...

Max Bupa wins the technology award at the fourth edition of India Insurance Awards
Max Bupa wins the technology award at...

Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India...

Research on Fraud in Health Insurance...

Insurance Sector in India is expanding rapidly with stiff competition in the insurance industry....

 Indian millionaires are expected to grow at a strong pace- WealthInsight
Indian millionaires are expected to...

According to a new report from WealthInsight, Indian millionaires are expected to grow at a...

 Insurers to offer products exclusively through specific distribution channel
Insurers to offer products...

      Instead of selling the same insurance products across various distribution channels,...

Family floaters gain as healthcare costs rise
Family floaters gain as healthcare...

In a bid to cut down their health insurance bill, buyers are increasingly turning to family...

Private health insurers cover 65% policy holders
Private health insurers cover 65%...

Around 65 per cent of health insurance policy holders in the country are covered by private...

LIC buys Rs. 4,300 cr loans from 7 states
LIC buys Rs. 4,300 cr loans from 7...

Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state...

IRDA initiates study for group insurance policies
IRDA initiates study for group...

Insurance Regulatory and Development Authority of India has initiated a study regarding the...

Finance Ministry cancels IRDA order withdrawing third-party pool
Finance Ministry cancels IRDA order...

The finance ministry has rescinded the insurance regulator's decision to withdraw third party...

IRDA forms working group for simple products in general insurance
IRDA forms working group for simple...

IRDA has formed a working group to review 'File & Use' (F&U) guidelines to ensure...

IRDA may ask life insurers to tie up with repositories
IRDA may ask life insurers to tie up...

The Insurance Regulatory and Development Authority is likely to make it mandatory for life...

 Indian online insurance market size more than Rs. 700 cr : BCG Report
Indian online insurance market size...

The online insurance market in India is already in excess of Rs.700 crore. While life insurance...

Information Technology is quietly revolutionizing insurance distribution, helping increase consumer centricity, says Swiss Re sigma study
Information Technology is quietly...

      Technology is changing the way insurers and consumers interact, says Swiss Re's latest...

ACFE Report: Organizations Still not upto mark in Fraud Prevention
ACFE Report: Organizations Still not...

      Organizations around the world lose an estimated 5 percent of their annual revenues to...

Insurers in India tap GPS technology to offer onsite covers
Insurers in India tap GPS technology...

Insurers in India are making full use of technology to sell insurance policies. Few days back an...

Govt to form nuclear insurance pool to address liability issue
Govt to form nuclear insurance pool...

Moving to address the liability issue that has held up deals with various countries, the...

Insurance Ombudsman post in kolkata vacant since long
Insurance Ombudsman post in kolkata...

Insurance Ombudsman post in Kolkata lying vacant since long Insurance policyholders in the...

Reinsurance rates down by 20%: GIC Re
Reinsurance rates down by 20%: GIC Re

GIC Re has seen a softening of reinsurance rates in the contracts renewed in the last few months....

IndiaFirst Life continues its growth story; grows by 28% in FY 2013-14
IndiaFirst Life continues its growth...

  Customer focused products and processes help company grow amidst challenging times   Garners...

Reliance Insurance, UIDAI tie up for Aadhaar-based e-KYC
Reliance Insurance, UIDAI tie up for...

      With the intention to improve insurance penetration in the country, Reliance General...

Allahabad University plans insurance cover for students from next session
Allahabad University plans insurance...

      The Allahabad University has planned to start an insurance policy to cover every student...

Aviation insurance demand on the rise
Aviation insurance demand on the rise

  With the demand for covers for ground handling and aviation product liability insurance...

Direct Taxes Code 2013- KPMG INDIA

In August 2009, the Government unveiled the Direct Taxes Code, 2009 (DTC 2009) along with a...

MetLife Names Ralph Brunner as Chief Marketing Officer for Asia
MetLife Names Ralph Brunner as Chief...

      HONG KONG --MetLife, Inc. announced  that Ralph Brunner has joined the company as its Chief...

Claim is not payable if location is...

  Judgement   Ahmedabad Ombudsman Centre Case No. 11/ 005 / 0045 Shri. M. S. A. Kajalwala Vs...

The Experience rating method.

      All large individual risk rating is a form of experience rating as they need to reflect the...

The process of Individual risk rating...

        Generally, individual rating is done for various reasons, such as the price charged to...

How are the Rating Structure made in...

 All rates are based on various risk exposures that  insurance may face.  However the rate for...

Purposes of rate making in general...

      The purpose of rate making is to set the prices of insurance products in such a way...

THE ‘COMPLAINT-AS-GIFT’ STRATEGY THAT...

      INTRODUCTION: In this competitive insurance market in India, we need to become very much...

Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma
Global insured losses from...

Global insured losses from catastrophes were USD 45 billion in 2013,according to Swiss Re sigma....

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Effective risk management, depends to...

      Effective risk management truly depends to a large extent on the use of probability...

 Top small cars are prone to life threatening road accidents
Top small cars are prone to life...

Small cars from some of the leading brands sold in India has failed miserably in crash cases...

Free insurance cover to Amarnath pilgrims
Free insurance cover to Amarnath...

All pilgrims that hold valid permits for this year's Amarnath Yatra will be provided a free...

Bihar govt plans  insurance scheme for panchayat representatives
Bihar govt plans insurance scheme...

Panchayati Raj and Rural Works Department Minister of Bihar, Bhim Singh stated recently that the...

Frequently Asked Questions about Insurance Repository
Frequently Asked Questions about...

  1. What is Insurance Repository? “Insurance Repository” means a company formed and registered...

Swiss Re earns profit of USD 4.4 billion for 2013
Swiss Re earns profit of USD 4.4...

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by...

Future Generali India Life Insurance receives ISO 9001:2008 certification
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited, a joint venture between Future Group - the...

How insurers in Asia can help consumers meet their increasing needs for medical insurance products and services
How insurers in Asia can help...

All markets surveyed in this study (China, Hong Kong, India, Indonesia, Malaysia and Thailand)...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

Future Generali India Insurance, a joint venture between Future Group - the leading retailer of...

IRDA: Implementation of Standard Proposal form for Life Insurance
IRDA: Implementation of Standard...

After examining various representations received from Life Insurance Industry, the competent...

Guidelines for Individual Agents for Persistency of Life Insurance Policies
Guidelines for Individual Agents for...

IRDA has issued some modifications for persistency of Life Insruance Policies. In modification of...

Maples Publication,Belgharia, Kolkata...

  Please beware of duplicate books/study materials from Maples Publication, kolkata which is a...

Future Generali insures Mangal Navratri 2013 with Falguni Pathak and her troupe
Future Generali insures Mangal...

Future Generali India Insurance Company Ltd. is one of the leading insurers who offer insurance...

RELIANCE LIFE INSURANCE AMONGST FIRST FEW PRIVATE INSURERS TO OFFER INSURANCE POLICIES IN ELECTRONIC DEMAT FORM
RELIANCE LIFE INSURANCE AMONGST FIRST...

Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, today announced the...

Chola MS raises additional Rs. 75 crore capital for business growth and expansion
Chola MS raises additional Rs. 75...

Cholamandalam MS General Insurance Company Limited, a joint venture between Murugappa Group and...

National Seminar on ‘Big data to Predictive Analytics – Future of Healthcare’ conducted by PHD Chamber
National Seminar on ‘Big data to...

The PHD Chamber of Commerce and Industry organized a Seminar on Big data to Predictive Analytics...

 Now cops under medical insurance cover
Now cops under medical insurance cover

The death of Lal Bahadur Lohar, the State Intelligence Bureau  (SIB)constable who was deputed to...

IRDA considering  health policies with 5 years span
IRDA considering health policies...

IRDA is considering a proposal to allow five year policies with the hope to  improve the health...

Now, demat insurance covers under one folioR
Now, demat insurance covers under one...

Now all policies be it life, health or motor can be dematerialized and maintained under a single...

 As auto skids in downturn, insurers feel the pinch
As auto skids in downturn, insurers...

With the decrease in demand for passenger cars due to the economic slowdown the insurance majors...

Natural disasters drive demand for property insurance in South Africa
Natural disasters drive demand for...

Property insurance, the largest category in the South African non-life insurance industry, is...

Cigna TTK Health Insurance expands in 5 more cities
Cigna TTK Health Insurance expands in...

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna...

Bharti AXA Life launches ‘Elite Advantage’
Bharti AXA Life launches ‘Elite...

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises...

Go Paper less ! Secure all your Policies in electronic Insurance A/c (eIA), With SHCIL Insurance Repository (SHCIL-IR) absolutely FREE OF COST
Go Paper less ! Secure all your...

eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the...

Karnataka Vikas Grameena Bank tiesup with IndiaFirst Life to offer insurance products
Karnataka Vikas Grameena Bank tiesup...

Karnataka Vikas Grameena Bank (KVGB) owned by Government-Sponsored by Syndicate Bank, one of the...

Future Generali India Life Insurance launches the Care Plus Plan
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future...

Solved Paper for General Insurance Accounts and Regulation of Investment IC46 for associateship
Solved Paper for General Insurance...

Launching of Guide Book for IC46 Plus Mock Test                   Guide...

Get FREE E-Insurance Account
Get FREE E-Insurance Account

You have been enjoying the benefits of Demat account and would have experienced the ease and...

2014 Budget Speech Extracts of Sri Arun Jaitely, Finance Minister, India relating to Direct Tax Proposals
2014 Budget Speech Extracts of Sri...

I do not propose to make any change in the tax rate.  However, with a view to provide relief to...

Budget 2014 - Highlights for Insurance Sector
Budget 2014 - Highlights for...

Budget Speech By Sri Arun Jaitely, Finance Minister The Insurance sector is investment starved....

Budget Reactions from Future Generali India
Budget Reactions from Future Generali...

“The budget announcement on increasing FDI cap in insurance to 49% is a positive step forward. We...

Budget Reaction - Mr. Antony Jacob, CEO, Apollo Munich Health Insurance
Budget Reaction - Mr. Antony Jacob,...

Today's Union Budget speech has certainly brought good news for the insurance sector by the...

Future Generali India Insurance ties up with Punjab & Maharashtra Co-operative Bank
Future Generali India Insurance ties...

Future Generali India Insurance, a joint venture between India’s leading retailer Future Group...

Max Bupa wins the technology award at the fourth edition of India Insurance Awards
Max Bupa wins the technology award at...

Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India...

Research on Fraud in Health Insurance...

Insurance Sector in India is expanding rapidly with stiff competition in the insurance industry....

 Indian millionaires are expected to grow at a strong pace- WealthInsight
Indian millionaires are expected to...

According to a new report from WealthInsight, Indian millionaires are expected to grow at a...

 Insurers to offer products exclusively through specific distribution channel
Insurers to offer products...

      Instead of selling the same insurance products across various distribution channels,...

Family floaters gain as healthcare costs rise
Family floaters gain as healthcare...

In a bid to cut down their health insurance bill, buyers are increasingly turning to family...

Private health insurers cover 65% policy holders
Private health insurers cover 65%...

Around 65 per cent of health insurance policy holders in the country are covered by private...

LIC buys Rs. 4,300 cr loans from 7 states
LIC buys Rs. 4,300 cr loans from 7...

Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state...

IRDA initiates study for group insurance policies
IRDA initiates study for group...

Insurance Regulatory and Development Authority of India has initiated a study regarding the...

Finance Ministry cancels IRDA order withdrawing third-party pool
Finance Ministry cancels IRDA order...

The finance ministry has rescinded the insurance regulator's decision to withdraw third party...

IRDA forms working group for simple products in general insurance
IRDA forms working group for simple...

IRDA has formed a working group to review 'File & Use' (F&U) guidelines to ensure...

IRDA may ask life insurers to tie up with repositories
IRDA may ask life insurers to tie up...

The Insurance Regulatory and Development Authority is likely to make it mandatory for life...

 Indian online insurance market size more than Rs. 700 cr : BCG Report
Indian online insurance market size...

The online insurance market in India is already in excess of Rs.700 crore. While life insurance...

Information Technology is quietly revolutionizing insurance distribution, helping increase consumer centricity, says Swiss Re sigma study
Information Technology is quietly...

      Technology is changing the way insurers and consumers interact, says Swiss Re's latest...

ACFE Report: Organizations Still not upto mark in Fraud Prevention
ACFE Report: Organizations Still not...

      Organizations around the world lose an estimated 5 percent of their annual revenues to...

Insurers in India tap GPS technology to offer onsite covers
Insurers in India tap GPS technology...

Insurers in India are making full use of technology to sell insurance policies. Few days back an...

Govt to form nuclear insurance pool to address liability issue
Govt to form nuclear insurance pool...

Moving to address the liability issue that has held up deals with various countries, the...

Insurance Ombudsman post in kolkata vacant since long
Insurance Ombudsman post in kolkata...

Insurance Ombudsman post in Kolkata lying vacant since long Insurance policyholders in the...

Reinsurance rates down by 20%: GIC Re
Reinsurance rates down by 20%: GIC Re

GIC Re has seen a softening of reinsurance rates in the contracts renewed in the last few months....

IndiaFirst Life continues its growth story; grows by 28% in FY 2013-14
IndiaFirst Life continues its growth...

  Customer focused products and processes help company grow amidst challenging times   Garners...

Reliance Insurance, UIDAI tie up for Aadhaar-based e-KYC
Reliance Insurance, UIDAI tie up for...

      With the intention to improve insurance penetration in the country, Reliance General...

Allahabad University plans insurance cover for students from next session
Allahabad University plans insurance...

      The Allahabad University has planned to start an insurance policy to cover every student...

Aviation insurance demand on the rise
Aviation insurance demand on the rise

  With the demand for covers for ground handling and aviation product liability insurance...

Direct Taxes Code 2013- KPMG INDIA

In August 2009, the Government unveiled the Direct Taxes Code, 2009 (DTC 2009) along with a...

MetLife Names Ralph Brunner as Chief Marketing Officer for Asia
MetLife Names Ralph Brunner as Chief...

      HONG KONG --MetLife, Inc. announced  that Ralph Brunner has joined the company as its Chief...

Claim is not payable if location is...

  Judgement   Ahmedabad Ombudsman Centre Case No. 11/ 005 / 0045 Shri. M. S. A. Kajalwala Vs...

The Experience rating method.

      All large individual risk rating is a form of experience rating as they need to reflect the...

The process of Individual risk rating...

        Generally, individual rating is done for various reasons, such as the price charged to...

How are the Rating Structure made in...

 All rates are based on various risk exposures that  insurance may face.  However the rate for...

Purposes of rate making in general...

      The purpose of rate making is to set the prices of insurance products in such a way...

THE ‘COMPLAINT-AS-GIFT’ STRATEGY THAT...

      INTRODUCTION: In this competitive insurance market in India, we need to become very much...

Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma
Global insured losses from...

Global insured losses from catastrophes were USD 45 billion in 2013,according to Swiss Re sigma....

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

Cigna TTK Health Insurance expands in 5 more cities
Cigna TTK Health Insurance expands in...

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna...

Bharti AXA Life launches ‘Elite Advantage’
Bharti AXA Life launches ‘Elite...

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises...

Go Paper less ! Secure all your Policies in electronic Insurance A/c (eIA), With SHCIL Insurance Repository (SHCIL-IR) absolutely FREE OF COST
Go Paper less ! Secure all your...

eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the...

Karnataka Vikas Grameena Bank tiesup with IndiaFirst Life to offer insurance products
Karnataka Vikas Grameena Bank tiesup...

Karnataka Vikas Grameena Bank (KVGB) owned by Government-Sponsored by Syndicate Bank, one of the...

Future Generali India Life Insurance launches the Care Plus Plan
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future...

Solved Paper for General Insurance Accounts and Regulation of Investment IC46 for associateship
Solved Paper for General Insurance...

Launching of Guide Book for IC46 Plus Mock Test                   Guide...

Get FREE E-Insurance Account
Get FREE E-Insurance Account

You have been enjoying the benefits of Demat account and would have experienced the ease and...

2014 Budget Speech Extracts of Sri Arun Jaitely, Finance Minister, India relating to Direct Tax Proposals
2014 Budget Speech Extracts of Sri...

I do not propose to make any change in the tax rate.  However, with a view to provide relief to...

Budget 2014 - Highlights for Insurance Sector
Budget 2014 - Highlights for...

Budget Speech By Sri Arun Jaitely, Finance Minister The Insurance sector is investment starved....

Budget Reactions from Future Generali India
Budget Reactions from Future Generali...

“The budget announcement on increasing FDI cap in insurance to 49% is a positive step forward. We...

Budget Reaction - Mr. Antony Jacob, CEO, Apollo Munich Health Insurance
Budget Reaction - Mr. Antony Jacob,...

Today's Union Budget speech has certainly brought good news for the insurance sector by the...

Future Generali India Insurance ties up with Punjab & Maharashtra Co-operative Bank
Future Generali India Insurance ties...

Future Generali India Insurance, a joint venture between India’s leading retailer Future Group...

Max Bupa wins the technology award at the fourth edition of India Insurance Awards
Max Bupa wins the technology award at...

Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India...

Research on Fraud in Health Insurance...

Insurance Sector in India is expanding rapidly with stiff competition in the insurance industry....

 Indian millionaires are expected to grow at a strong pace- WealthInsight
Indian millionaires are expected to...

According to a new report from WealthInsight, Indian millionaires are expected to grow at a...

 Insurers to offer products exclusively through specific distribution channel
Insurers to offer products...

      Instead of selling the same insurance products across various distribution channels,...

Family floaters gain as healthcare costs rise
Family floaters gain as healthcare...

In a bid to cut down their health insurance bill, buyers are increasingly turning to family...

Private health insurers cover 65% policy holders
Private health insurers cover 65%...

Around 65 per cent of health insurance policy holders in the country are covered by private...

LIC buys Rs. 4,300 cr loans from 7 states
LIC buys Rs. 4,300 cr loans from 7...

Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state...

IRDA initiates study for group insurance policies
IRDA initiates study for group...

Insurance Regulatory and Development Authority of India has initiated a study regarding the...

Finance Ministry cancels IRDA order withdrawing third-party pool
Finance Ministry cancels IRDA order...

The finance ministry has rescinded the insurance regulator's decision to withdraw third party...

IRDA forms working group for simple products in general insurance
IRDA forms working group for simple...

IRDA has formed a working group to review 'File & Use' (F&U) guidelines to ensure...

IRDA may ask life insurers to tie up with repositories
IRDA may ask life insurers to tie up...

The Insurance Regulatory and Development Authority is likely to make it mandatory for life...

 Indian online insurance market size more than Rs. 700 cr : BCG Report
Indian online insurance market size...

The online insurance market in India is already in excess of Rs.700 crore. While life insurance...

Information Technology is quietly revolutionizing insurance distribution, helping increase consumer centricity, says Swiss Re sigma study
Information Technology is quietly...

      Technology is changing the way insurers and consumers interact, says Swiss Re's latest...

ACFE Report: Organizations Still not upto mark in Fraud Prevention
ACFE Report: Organizations Still not...

      Organizations around the world lose an estimated 5 percent of their annual revenues to...

Insurers in India tap GPS technology to offer onsite covers
Insurers in India tap GPS technology...

Insurers in India are making full use of technology to sell insurance policies. Few days back an...

Govt to form nuclear insurance pool to address liability issue
Govt to form nuclear insurance pool...

Moving to address the liability issue that has held up deals with various countries, the...

Insurance Ombudsman post in kolkata vacant since long
Insurance Ombudsman post in kolkata...

Insurance Ombudsman post in Kolkata lying vacant since long Insurance policyholders in the...

Reinsurance rates down by 20%: GIC Re
Reinsurance rates down by 20%: GIC Re

GIC Re has seen a softening of reinsurance rates in the contracts renewed in the last few months....

IndiaFirst Life continues its growth story; grows by 28% in FY 2013-14
IndiaFirst Life continues its growth...

  Customer focused products and processes help company grow amidst challenging times   Garners...

Reliance Insurance, UIDAI tie up for Aadhaar-based e-KYC
Reliance Insurance, UIDAI tie up for...

      With the intention to improve insurance penetration in the country, Reliance General...

Allahabad University plans insurance cover for students from next session
Allahabad University plans insurance...

      The Allahabad University has planned to start an insurance policy to cover every student...

Aviation insurance demand on the rise
Aviation insurance demand on the rise

  With the demand for covers for ground handling and aviation product liability insurance...

Direct Taxes Code 2013- KPMG INDIA

In August 2009, the Government unveiled the Direct Taxes Code, 2009 (DTC 2009) along with a...

MetLife Names Ralph Brunner as Chief Marketing Officer for Asia
MetLife Names Ralph Brunner as Chief...

      HONG KONG --MetLife, Inc. announced  that Ralph Brunner has joined the company as its Chief...

Claim is not payable if location is...

  Judgement   Ahmedabad Ombudsman Centre Case No. 11/ 005 / 0045 Shri. M. S. A. Kajalwala Vs...

The Experience rating method.

      All large individual risk rating is a form of experience rating as they need to reflect the...

The process of Individual risk rating...

        Generally, individual rating is done for various reasons, such as the price charged to...

How are the Rating Structure made in...

 All rates are based on various risk exposures that  insurance may face.  However the rate for...

Purposes of rate making in general...

      The purpose of rate making is to set the prices of insurance products in such a way...

THE ‘COMPLAINT-AS-GIFT’ STRATEGY THAT...

      INTRODUCTION: In this competitive insurance market in India, we need to become very much...

Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma
Global insured losses from...

Global insured losses from catastrophes were USD 45 billion in 2013,according to Swiss Re sigma....

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Effective risk management, depends to...

      Effective risk management truly depends to a large extent on the use of probability...

 Top small cars are prone to life threatening road accidents
Top small cars are prone to life...

Small cars from some of the leading brands sold in India has failed miserably in crash cases...

Free insurance cover to Amarnath pilgrims
Free insurance cover to Amarnath...

All pilgrims that hold valid permits for this year's Amarnath Yatra will be provided a free...

Bihar govt plans  insurance scheme for panchayat representatives
Bihar govt plans insurance scheme...

Panchayati Raj and Rural Works Department Minister of Bihar, Bhim Singh stated recently that the...

Frequently Asked Questions about Insurance Repository
Frequently Asked Questions about...

  1. What is Insurance Repository? “Insurance Repository” means a company formed and registered...

Swiss Re earns profit of USD 4.4 billion for 2013
Swiss Re earns profit of USD 4.4...

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by...

Future Generali India Life Insurance receives ISO 9001:2008 certification
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited, a joint venture between Future Group - the...

How insurers in Asia can help consumers meet their increasing needs for medical insurance products and services
How insurers in Asia can help...

All markets surveyed in this study (China, Hong Kong, India, Indonesia, Malaysia and Thailand)...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

Future Generali India Insurance, a joint venture between Future Group - the leading retailer of...

IRDA: Implementation of Standard Proposal form for Life Insurance
IRDA: Implementation of Standard...

After examining various representations received from Life Insurance Industry, the competent...

Guidelines for Individual Agents for Persistency of Life Insurance Policies
Guidelines for Individual Agents for...

IRDA has issued some modifications for persistency of Life Insruance Policies. In modification of...

Maples Publication,Belgharia, Kolkata...

  Please beware of duplicate books/study materials from Maples Publication, kolkata which is a...

Future Generali insures Mangal Navratri 2013 with Falguni Pathak and her troupe
Future Generali insures Mangal...

Future Generali India Insurance Company Ltd. is one of the leading insurers who offer insurance...

RELIANCE LIFE INSURANCE AMONGST FIRST FEW PRIVATE INSURERS TO OFFER INSURANCE POLICIES IN ELECTRONIC DEMAT FORM
RELIANCE LIFE INSURANCE AMONGST FIRST...

Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, today announced the...

Chola MS raises additional Rs. 75 crore capital for business growth and expansion
Chola MS raises additional Rs. 75...

Cholamandalam MS General Insurance Company Limited, a joint venture between Murugappa Group and...

National Seminar on ‘Big data to Predictive Analytics – Future of Healthcare’ conducted by PHD Chamber
National Seminar on ‘Big data to...

The PHD Chamber of Commerce and Industry organized a Seminar on Big data to Predictive Analytics...

Cigna TTK Health Insurance expands in 5 more cities
Cigna TTK Health Insurance expands in...

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna...

Bharti AXA Life launches ‘Elite Advantage’
Bharti AXA Life launches ‘Elite...

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises...

Go Paper less ! Secure all your Policies in electronic Insurance A/c (eIA), With SHCIL Insurance Repository (SHCIL-IR) absolutely FREE OF COST
Go Paper less ! Secure all your...

eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the...

Karnataka Vikas Grameena Bank tiesup with IndiaFirst Life to offer insurance products
Karnataka Vikas Grameena Bank tiesup...

Karnataka Vikas Grameena Bank (KVGB) owned by Government-Sponsored by Syndicate Bank, one of the...

Future Generali India Life Insurance launches the Care Plus Plan
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future...

Solved Paper for General Insurance Accounts and Regulation of Investment IC46 for associateship
Solved Paper for General Insurance...

Launching of Guide Book for IC46 Plus Mock Test                   Guide...

Get FREE E-Insurance Account
Get FREE E-Insurance Account

You have been enjoying the benefits of Demat account and would have experienced the ease and...

2014 Budget Speech Extracts of Sri Arun Jaitely, Finance Minister, India relating to Direct Tax Proposals
2014 Budget Speech Extracts of Sri...

I do not propose to make any change in the tax rate.  However, with a view to provide relief to...

Budget 2014 - Highlights for Insurance Sector
Budget 2014 - Highlights for...

Budget Speech By Sri Arun Jaitely, Finance Minister The Insurance sector is investment starved....

Budget Reactions from Future Generali India
Budget Reactions from Future Generali...

“The budget announcement on increasing FDI cap in insurance to 49% is a positive step forward. We...

Budget Reaction - Mr. Antony Jacob, CEO, Apollo Munich Health Insurance
Budget Reaction - Mr. Antony Jacob,...

Today's Union Budget speech has certainly brought good news for the insurance sector by the...

Future Generali India Insurance ties up with Punjab & Maharashtra Co-operative Bank
Future Generali India Insurance ties...

Future Generali India Insurance, a joint venture between India’s leading retailer Future Group...

Max Bupa wins the technology award at the fourth edition of India Insurance Awards
Max Bupa wins the technology award at...

Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India...

Research on Fraud in Health Insurance...

Insurance Sector in India is expanding rapidly with stiff competition in the insurance industry....

 Indian millionaires are expected to grow at a strong pace- WealthInsight
Indian millionaires are expected to...

According to a new report from WealthInsight, Indian millionaires are expected to grow at a...

 Insurers to offer products exclusively through specific distribution channel
Insurers to offer products...

      Instead of selling the same insurance products across various distribution channels,...

Family floaters gain as healthcare costs rise
Family floaters gain as healthcare...

In a bid to cut down their health insurance bill, buyers are increasingly turning to family...

Private health insurers cover 65% policy holders
Private health insurers cover 65%...

Around 65 per cent of health insurance policy holders in the country are covered by private...

LIC buys Rs. 4,300 cr loans from 7 states
LIC buys Rs. 4,300 cr loans from 7...

Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state...

IRDA initiates study for group insurance policies
IRDA initiates study for group...

Insurance Regulatory and Development Authority of India has initiated a study regarding the...

Finance Ministry cancels IRDA order withdrawing third-party pool
Finance Ministry cancels IRDA order...

The finance ministry has rescinded the insurance regulator's decision to withdraw third party...

IRDA forms working group for simple products in general insurance
IRDA forms working group for simple...

IRDA has formed a working group to review 'File & Use' (F&U) guidelines to ensure...

IRDA may ask life insurers to tie up with repositories
IRDA may ask life insurers to tie up...

The Insurance Regulatory and Development Authority is likely to make it mandatory for life...

 Indian online insurance market size more than Rs. 700 cr : BCG Report
Indian online insurance market size...

The online insurance market in India is already in excess of Rs.700 crore. While life insurance...

Information Technology is quietly revolutionizing insurance distribution, helping increase consumer centricity, says Swiss Re sigma study
Information Technology is quietly...

      Technology is changing the way insurers and consumers interact, says Swiss Re's latest...

ACFE Report: Organizations Still not upto mark in Fraud Prevention
ACFE Report: Organizations Still not...

      Organizations around the world lose an estimated 5 percent of their annual revenues to...

Insurers in India tap GPS technology to offer onsite covers
Insurers in India tap GPS technology...

Insurers in India are making full use of technology to sell insurance policies. Few days back an...

Govt to form nuclear insurance pool to address liability issue
Govt to form nuclear insurance pool...

Moving to address the liability issue that has held up deals with various countries, the...

Insurance Ombudsman post in kolkata vacant since long
Insurance Ombudsman post in kolkata...

Insurance Ombudsman post in Kolkata lying vacant since long Insurance policyholders in the...

Reinsurance rates down by 20%: GIC Re
Reinsurance rates down by 20%: GIC Re

GIC Re has seen a softening of reinsurance rates in the contracts renewed in the last few months....

IndiaFirst Life continues its growth story; grows by 28% in FY 2013-14
IndiaFirst Life continues its growth...

  Customer focused products and processes help company grow amidst challenging times   Garners...

Reliance Insurance, UIDAI tie up for Aadhaar-based e-KYC
Reliance Insurance, UIDAI tie up for...

      With the intention to improve insurance penetration in the country, Reliance General...

Allahabad University plans insurance cover for students from next session
Allahabad University plans insurance...

      The Allahabad University has planned to start an insurance policy to cover every student...

Aviation insurance demand on the rise
Aviation insurance demand on the rise

  With the demand for covers for ground handling and aviation product liability insurance...

Direct Taxes Code 2013- KPMG INDIA

In August 2009, the Government unveiled the Direct Taxes Code, 2009 (DTC 2009) along with a...

MetLife Names Ralph Brunner as Chief Marketing Officer for Asia
MetLife Names Ralph Brunner as Chief...

      HONG KONG --MetLife, Inc. announced  that Ralph Brunner has joined the company as its Chief...

Claim is not payable if location is...

  Judgement   Ahmedabad Ombudsman Centre Case No. 11/ 005 / 0045 Shri. M. S. A. Kajalwala Vs...

The Experience rating method.

      All large individual risk rating is a form of experience rating as they need to reflect the...

The process of Individual risk rating...

        Generally, individual rating is done for various reasons, such as the price charged to...

How are the Rating Structure made in...

 All rates are based on various risk exposures that  insurance may face.  However the rate for...

Purposes of rate making in general...

      The purpose of rate making is to set the prices of insurance products in such a way...

THE ‘COMPLAINT-AS-GIFT’ STRATEGY THAT...

      INTRODUCTION: In this competitive insurance market in India, we need to become very much...

Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma
Global insured losses from...

Global insured losses from catastrophes were USD 45 billion in 2013,according to Swiss Re sigma....

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Cigna TTK Health Insurance expands in 5 more cities
Cigna TTK Health Insurance expands in...

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna...

Bharti AXA Life launches ‘Elite Advantage’
Bharti AXA Life launches ‘Elite...

Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises...

Go Paper less ! Secure all your Policies in electronic Insurance A/c (eIA), With SHCIL Insurance Repository (SHCIL-IR) absolutely FREE OF COST
Go Paper less ! Secure all your...

eIA stands for e-Insurance Account or “Electronic Insurance Account” which will safeguard the...

Karnataka Vikas Grameena Bank tiesup with IndiaFirst Life to offer insurance products
Karnataka Vikas Grameena Bank tiesup...

Karnataka Vikas Grameena Bank (KVGB) owned by Government-Sponsored by Syndicate Bank, one of the...

Future Generali India Life Insurance launches the Care Plus Plan
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future...

Solved Paper for General Insurance Accounts and Regulation of Investment IC46 for associateship
Solved Paper for General Insurance...

Launching of Guide Book for IC46 Plus Mock Test                   Guide...

Get FREE E-Insurance Account
Get FREE E-Insurance Account

You have been enjoying the benefits of Demat account and would have experienced the ease and...

2014 Budget Speech Extracts of Sri Arun Jaitely, Finance Minister, India relating to Direct Tax Proposals
2014 Budget Speech Extracts of Sri...

I do not propose to make any change in the tax rate.  However, with a view to provide relief to...

Budget 2014 - Highlights for Insurance Sector
Budget 2014 - Highlights for...

Budget Speech By Sri Arun Jaitely, Finance Minister The Insurance sector is investment starved....

Budget Reactions from Future Generali India
Budget Reactions from Future Generali...

“The budget announcement on increasing FDI cap in insurance to 49% is a positive step forward. We...

Budget Reaction - Mr. Antony Jacob, CEO, Apollo Munich Health Insurance
Budget Reaction - Mr. Antony Jacob,...

Today's Union Budget speech has certainly brought good news for the insurance sector by the...

Future Generali India Insurance ties up with Punjab & Maharashtra Co-operative Bank
Future Generali India Insurance ties...

Future Generali India Insurance, a joint venture between India’s leading retailer Future Group...

Max Bupa wins the technology award at the fourth edition of India Insurance Awards
Max Bupa wins the technology award at...

Max Bupa has been conferred with top honor for technology maturity at the fourth edition of India...

Research on Fraud in Health Insurance...

Insurance Sector in India is expanding rapidly with stiff competition in the insurance industry....

 Indian millionaires are expected to grow at a strong pace- WealthInsight
Indian millionaires are expected to...

According to a new report from WealthInsight, Indian millionaires are expected to grow at a...

 Insurers to offer products exclusively through specific distribution channel
Insurers to offer products...

      Instead of selling the same insurance products across various distribution channels,...

Family floaters gain as healthcare costs rise
Family floaters gain as healthcare...

In a bid to cut down their health insurance bill, buyers are increasingly turning to family...

Private health insurers cover 65% policy holders
Private health insurers cover 65%...

Around 65 per cent of health insurance policy holders in the country are covered by private...

LIC buys Rs. 4,300 cr loans from 7 states
LIC buys Rs. 4,300 cr loans from 7...

Life Insurance Corporation of India (LIC) has bought debt worth about Rs 4,300 crore in state...

IRDA initiates study for group insurance policies
IRDA initiates study for group...

Insurance Regulatory and Development Authority of India has initiated a study regarding the...

Finance Ministry cancels IRDA order withdrawing third-party pool
Finance Ministry cancels IRDA order...

The finance ministry has rescinded the insurance regulator's decision to withdraw third party...

IRDA forms working group for simple products in general insurance
IRDA forms working group for simple...

IRDA has formed a working group to review 'File & Use' (F&U) guidelines to ensure...

IRDA may ask life insurers to tie up with repositories
IRDA may ask life insurers to tie up...

The Insurance Regulatory and Development Authority is likely to make it mandatory for life...

 Indian online insurance market size more than Rs. 700 cr : BCG Report
Indian online insurance market size...

The online insurance market in India is already in excess of Rs.700 crore. While life insurance...

Information Technology is quietly revolutionizing insurance distribution, helping increase consumer centricity, says Swiss Re sigma study
Information Technology is quietly...

      Technology is changing the way insurers and consumers interact, says Swiss Re's latest...

ACFE Report: Organizations Still not upto mark in Fraud Prevention
ACFE Report: Organizations Still not...

      Organizations around the world lose an estimated 5 percent of their annual revenues to...

Insurers in India tap GPS technology to offer onsite covers
Insurers in India tap GPS technology...

Insurers in India are making full use of technology to sell insurance policies. Few days back an...

Govt to form nuclear insurance pool to address liability issue
Govt to form nuclear insurance pool...

Moving to address the liability issue that has held up deals with various countries, the...

Insurance Ombudsman post in kolkata vacant since long
Insurance Ombudsman post in kolkata...

Insurance Ombudsman post in Kolkata lying vacant since long Insurance policyholders in the...

Reinsurance rates down by 20%: GIC Re
Reinsurance rates down by 20%: GIC Re

GIC Re has seen a softening of reinsurance rates in the contracts renewed in the last few months....

IndiaFirst Life continues its growth story; grows by 28% in FY 2013-14
IndiaFirst Life continues its growth...

  Customer focused products and processes help company grow amidst challenging times   Garners...

Reliance Insurance, UIDAI tie up for Aadhaar-based e-KYC
Reliance Insurance, UIDAI tie up for...

      With the intention to improve insurance penetration in the country, Reliance General...

Allahabad University plans insurance cover for students from next session
Allahabad University plans insurance...

      The Allahabad University has planned to start an insurance policy to cover every student...

Aviation insurance demand on the rise
Aviation insurance demand on the rise

  With the demand for covers for ground handling and aviation product liability insurance...

Direct Taxes Code 2013- KPMG INDIA

In August 2009, the Government unveiled the Direct Taxes Code, 2009 (DTC 2009) along with a...

MetLife Names Ralph Brunner as Chief Marketing Officer for Asia
MetLife Names Ralph Brunner as Chief...

      HONG KONG --MetLife, Inc. announced  that Ralph Brunner has joined the company as its Chief...

Claim is not payable if location is...

  Judgement   Ahmedabad Ombudsman Centre Case No. 11/ 005 / 0045 Shri. M. S. A. Kajalwala Vs...

The Experience rating method.

      All large individual risk rating is a form of experience rating as they need to reflect the...

The process of Individual risk rating...

        Generally, individual rating is done for various reasons, such as the price charged to...

How are the Rating Structure made in...

 All rates are based on various risk exposures that  insurance may face.  However the rate for...

Purposes of rate making in general...

      The purpose of rate making is to set the prices of insurance products in such a way...

THE ‘COMPLAINT-AS-GIFT’ STRATEGY THAT...

      INTRODUCTION: In this competitive insurance market in India, we need to become very much...

Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma
Global insured losses from...

Global insured losses from catastrophes were USD 45 billion in 2013,according to Swiss Re sigma....

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Effective risk management, depends to...

      Effective risk management truly depends to a large extent on the use of probability...

 Top small cars are prone to life threatening road accidents
Top small cars are prone to life...

Small cars from some of the leading brands sold in India has failed miserably in crash cases...

Free insurance cover to Amarnath pilgrims
Free insurance cover to Amarnath...

All pilgrims that hold valid permits for this year's Amarnath Yatra will be provided a free...

Bihar govt plans  insurance scheme for panchayat representatives
Bihar govt plans insurance scheme...

Panchayati Raj and Rural Works Department Minister of Bihar, Bhim Singh stated recently that the...

Frequently Asked Questions about Insurance Repository
Frequently Asked Questions about...

  1. What is Insurance Repository? “Insurance Repository” means a company formed and registered...

Swiss Re earns profit of USD 4.4 billion for 2013
Swiss Re earns profit of USD 4.4...

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by...

Future Generali India Life Insurance receives ISO 9001:2008 certification
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited, a joint venture between Future Group - the...

How insurers in Asia can help consumers meet their increasing needs for medical insurance products and services
How insurers in Asia can help...

All markets surveyed in this study (China, Hong Kong, India, Indonesia, Malaysia and Thailand)...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

Future Generali India Insurance, a joint venture between Future Group - the leading retailer of...

IRDA: Implementation of Standard Proposal form for Life Insurance
IRDA: Implementation of Standard...

After examining various representations received from Life Insurance Industry, the competent...

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