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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Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Indian Life Insurance Industry:...

The Indian life insurance industry, which was liberalized in 1999, allowing private sector...

Insurer Aetna to acquire Humana Inc
Insurer Aetna to acquire Humana Inc

Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in...

LIC investments of Rs.10K cr under close watch
LIC investments of Rs.10K cr under...

  Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner...

New amendments makes rejections to claims tight: LIC Chief
New amendments makes rejections to...

  Life insurance companies will find it almost impossible to reject claims in future because of...

All investment decisions routed after due diligence: SK Roy
All investment decisions routed after...

  Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages...

Future Generali penalized for Rs.50 lakh
Future Generali penalized for Rs.50...

  The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against...

Govt ponders 100% FDI in insurance broking
Govt ponders 100% FDI in insurance...

  The government is considering exempting insurance intermediaries, including brokers, from the...

Interview with Mr. Syed Siddiq, Head of Technical-Commercial for ANB Insurance (MetLife-AIG-ANB Cooperative Insurance Co), Saudi Arabia
Interview with Mr. Syed Siddiq, Head...

  Mr. Syed Siddiq is currently working as Head of Technical-commercial at MetLife AIC ANB...

Foreign stakes in insurers' parent not to count for FDI
Foreign stakes in insurers' parent...

  The finance ministry clarified the doubts on the fact that the foreign shareholding in parent...

Vice President Addresses at Diamond Jubilee Celebrations of the Insurance Institute of India, Mumbai
Vice President Addresses at Diamond...

  The Vice President of India Shri M. Hamid Ansari has said that Insurance can mitigate the...

IRDA Exam: Download IC 34 Book as per...

Appearing for IRDA 50 hours examination for Insurance Advisors. You can download the IC34 books...

Max Life Super Term Plan
Max Life Super Term Plan

In an increasingly uncertain world, it is your top priority to ensure that your family continues...

New India Top Up Mediclaim
New India Top Up Mediclaim

SALIENT FEATURES OF THE POLICY This Policy covers In–Patient Hospitalisation Expenses incurred in...

Additional Subjects available in...

Sr. No. Subject Code & Title Credit Points Remark 1 IC 60 - Marine Cargo Insurance...

Online Examination Schedule for December, 2015
Online Examination Schedule for...

     For any queries regarding OnLine Examination please mail at \n This email address is being...

Co-payment in health insurance only after netting hospital discounts: Irdai
Co-payment in health insurance only...

  The Irdai had recently notified that in health insurance policies with co-payment or the...

LIC's recruitment drive for 2 lakh new agents
LIC's recruitment drive for 2 lakh...

With the soaring aim to acquire its market share from private sector companies, Life Insurance...

IRDAI likely to relax corporate agency norms
IRDAI likely to relax corporate...

  The proposed  corporate agency norms that authorizes the  banks to sell a specified percentage...

India nuclear insurance pool with 1500 cr capacity formed
India nuclear insurance pool with...

General Insurance Corporation of India (GIC Re) and 11 other non-life insurers have formed the...

Hannover Re  keen to render reinsurance cover for PMSBY
Hannover Re keen to render...

Hannover Re, the world's third largest reinsurer, has decided to offer reinsurance cover for the...

Capital requirement for health...

The Insurance Regulatory and Development Authority of India (Irda) is on the mind of reducing the...

Insurers keep perpetual bonds at bay

Insurers are staying away from tier-1 perpetual bonds issued by banks because of the lack of...

Guide for Insurance Brokers Exam from...

  Guide for Insurance Brokers Exam from The Insurance Times ( For Online Exam conducted by NIA...

Canara bank inks memorandum with LIC

Canara Bank has entered into a MoU with Life Insurance Corporation of India for offering the...

Insurance behemoth's exposure in...

The financial sector has a pride of place in the equity portfolio of government-owned Life...

IRDAI directs health cover discounts...

The regulator IRDAI  in an attempt to provide the best and cost effective services for the...

Correct anomalies in product pricing:...

The Insurance Regulatory and Development Authority of India (IRDAI) has directed the  insurers to...

Psychiatric test for pilots likely...

The cost of insurance for aviation companies may rise if the Directorate General of Civil...

June 1 marks the start of a new...

The new service tax rate of 14% will come into effect from June 1, top government sources said,...

Foreign firms show interest for...

With the Indian nuclear insurance pool falling short by Rs.600 crore, some foreign companies have...

Life Insurance Council pushes regulator for 50% concession in re-insurance rate
Life Insurance Council pushes...

   Life Insurance Council has urged the regulator for 50% concession in re-insurance rate on...

'Care' - Health Insurance Policy  from Religare Health Insurance
'Care' - Health Insurance Policy ...

  Religare Health Insurance plan provides a comprehensive coverage, speedy claim settlements and...

Education Plan from Reliance Life Insurance
Education Plan from Reliance Life...

Reliance Education Plan is a non-linked, non-participating, specialist child insurance plan that...

Insurers in Japan expand foreign bond...

  Japanese life insurers are investing in the sovereign bonds of emerging countries such a Roland...

Pre Budget Expectations By Mr Miranjit Mukherjee, Chief Financial Officer, Tata AIG General Insurance Co Ltd
Pre Budget Expectations By Mr...

  With regard to the mood on the overall business environment and reducing blockages... While the...

Budget Expectations 2016 – 2017 by KG Krishnamoorthy Rao, MD, CEO, Future Generali India
Budget Expectations 2016 – 2017 by KG...

  It is but quite natural for our expectations to be high from this year’s Union Budget given the...

5 Financial Challenges You Face in...

  You have completed your education from one of the premier institutes in the country and are...

An Outlook for the Year 2016
An Outlook for the Year 2016

  Mr. K.G. Krishnamoorthy Rao, Managing Director and Chief Executive Officer, Future Generali...

India to control 49% of foreign ownership: IRDA
India to control 49% of foreign...

      The Insurance Laws (Amendment) Act, 2015, passed during Parliament's budget session,...

IRDA forms panel for transparency in motor insurance
IRDA forms panel for transparency in...

      Insurance regulator IRDAI set up a seven-member committee to suggest ways to bring...

IRDA: Govt should drop tax on insurance maturity proceeds
IRDA: Govt should drop tax on...

      Insurance regulator Irda will take up with the government the issue of 2 per cent income...

Insurance penetration is 3.9% in present India
Insurance penetration is 3.9% in...

  Insurance penetration in India at 3.9 per cent was below the world average of 6.3 per cent in...

Global insurers to face 10% increase in capital charges
Global insurers to face 10% increase...

  Global insurers with the greatest ties to the financial system would face an average increase...

Insurers want a game with ISL
Insurers want a game with ISL

  The Indian Super League, which has attracted some of the top - though mostly retired -...

A Buyer’s Guide to Family Health Insurance Plans in India
A Buyer’s Guide to Family Health...

  Family floater plans cover all the members in a family, unlike individual plans that cover only...

Common Retirement Pitfalls and How to Avoid Them
Common Retirement Pitfalls and How to...

  After working hard for most of your life, retirement years are among the best in your life. Now...

Health Insurance Regulation in India

Pre regulation market The Indian Parliament passed The General Insurance Business...

Insurance penetration at 10-year low

Insurance penetration, measured as a percentage of premiums to a country's gross domestic...

Dengue Care Plan from Apollo Munich Insurance
Dengue Care Plan from Apollo Munich...

  Our first of a kind Dengue Care plan offers coverage for any medical expenses incurred on...

Travel Insurance Plan from Reliance General Insurance
Travel Insurance Plan from Reliance...

  Glad you made a quick pre-trip stopover to get your travel insurance online with Reliance...

Insure Smart Plan from Canara HSBC Oriental Bank Of Commerce Life Insurance
Insure Smart Plan from Canara HSBC...

  Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit...

Lifesurance Whole Life Plan (UIN 135N035V01) from IDBI Federal Life Insurance
Lifesurance Whole Life Plan (UIN...

  Plan Overview IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked...

Household Savings in India - A...

I. Introduction Savings play a pivotal role in the capital formation of any country. The gross...

Healthcare System of India

Healthcare system of India is a mess. Results of the National Sample Survey 60th round bring out...

OPERATIONAL CHALLENGES AND SWOT...

Introduction: Liberalizations and deregulation of the financial sector, the greater use of...

Swasthya Kavach- Wider (Family Health Insurance) from Iffco Tokio Health Insurance
Swasthya Kavach- Wider (Family Health...

  Eligibility Entry Age (years) Minimum: 18 Maximum: 60 Maximum Policy Renewal Age (years): 80...

Assure Plus from Future Generali Life Insurance
Assure Plus from Future Generali Life...

  The plan offers multiple term options to suit your needs. Based on your financial goals, you...

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15
Pension business of life insurers...

  The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due...

Future Generali eyes growth on economy pickup
Future Generali eyes growth on...

  Future Generali India Insurance Company, a joint venture between retail giant Future Group and...

SBI Life to Expand Bancassurance by 50%
SBI Life to Expand Bancassurance by 50%

  The country's biggest banking network SBI along with its insurer is planning to expand...

Database to prevent insurance fraudulent claims
Database to prevent insurance...

  The Life Insurance Council, an apex industry body of life insurance companies, is planning to...

Aggressive bidding likely for Air India's $9 bn insurance cover
Aggressive bidding likely for Air...

  Insurance companies are getting ready to bid aggressively for Air India $9 billion (around...

Insurance valuations an enigma: CII-Towers Watson study
Insurance valuations an enigma:...

  A joint study by the Confederation of Indian Industry (CII) and Towers Watson has revealed that...

Ulips are cheaper, yet not useful

With the stock market going up, unit-linked insurance plans (Ulips) seem to be making a comeback....

What constitutes the commission...

One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is...

Life Insurance Council gets executive council
Life Insurance Council gets executive...

  The Life Insurance Council has elected its first Executive Committee. The Executive Committee...

PNB Met Life launches term plan
PNB Met Life launches term plan

  PNB MetLife India Insurance has strengthened its portfolio of online insurance solutions with...

LIC emerged as a market leader in Bahrain, No. 3 in the UAE
LIC emerged as a market leader in...

  Life Insurance Corporation (LIC) - India's top life insurer has emerged as the market leader in...

Need for Tech-based crop insurance solutions: IRDAI
Need for Tech-based crop insurance...

  With the growing demand of technology-based changes to make crop insurance full proof the...

IRDAI puts a check on bancassurance to curb mis-sale
IRDAI puts a check on bancassurance...

  The Insurance Regulatory and Development Authority of India has put norms against forced...

Barrage of insurance rules to flood sector
Barrage of insurance rules to flood...

  The IRDAI is set to bring out a number of new rules to conform to the New Insurance Act...

Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh to adopt national...

  Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and...

A cashless treatment for road accident victims: Modi
A cashless treatment for road...

  The Modi government is planning to have cashless treatment facilities in more parts of the...

Pvt. Execs can search jobs in Govt. General Insurers
Pvt. Execs can search jobs in Govt....

  Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now...

Which Health Insurance Plan is Right for you?
Which Health Insurance Plan is Right...

  Health insurance is a plan which gives coverage for your medical expenses. It greatly reduces...

Health Suraksha from HDFC ERGO
Health Suraksha from HDFC ERGO

  With the HDFC ERGO Health Suraksha health insurance plan, you get access to a network of more...

Complete Health Insurance Plan from Universal Sompo General Insurance Co. Ltd
Complete Health Insurance Plan from...

  Product Features: Speedy Policy Process Instant Policy can be bought online or through agents...

TWO WHEELER INSURANCE from Shriram General Insurance
TWO WHEELER INSURANCE from Shriram...

  Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial...

AEGON Religare Guaranteed Growth Insurance Plan
AEGON Religare Guaranteed Growth...

  Why buy this plan? If you are looking for an investment plan that guarantees returns, this plan...

DREAM SMART PLAN from Canara HSBC Oriental Bank of Commerce Life Insurance
DREAM SMART PLAN from Canara HSBC...

  EVERYONE HAS A SPECIAL DREAMYour future is defined by your dreams for yourself and your loved...

AAM ADMI BIMA YOJANA from LIC
AAM ADMI BIMA YOJANA from LIC

  Ministry of Finance, Government of India has approved the merger of Social Security Schemes...

LIC holds strong banking linkages
LIC holds strong banking linkages

  Life Insurance Corp. of India or LIC is ranked as the country's 11th largest insurer in terms...

Life Insurance sector triggers 20% growth in Q1
Life Insurance sector triggers 20%...

The life insurance industry has sold additional 60% Group Single Premium policies, mopping up...

LIC elevates 2 women to top brass
LIC elevates 2 women to top brass

  Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a...

IRDAI penalizes Reliance Life Insurance  for norms violations
IRDAI penalizes Reliance Life...

  The Insurance Regulatory and Development Authority of India has imposed Rs.85 lakh penalty on...

IRDA dwindle distributors commissions
IRDA dwindle distributors commissions

  The Insurance regulator under the proposed new rules has decided to reduce the commissions that...

PM's insurance plans records 300 claims till now
PM's insurance plans records 300...

  The government's New Accident and Life Insurance covers have already received more than 300...

PSU General Insurers on Promotion Spree, Elevate 21 DGMs to GMs
PSU General Insurers on Promotion...

  Public sector general insurers have promoted their 21 young officials to the posts of General...

New India Assurance records 42% increase in Q1 profit
New India Assurance records 42%...

  New India Assurance reported a 42 percent jump in net profit at Rs.441 crore in the first...

HEALTHY GROWTH OF HEALTH INSURANCE

  Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance...

CLINICAL TRIALS LIABILITY INSURANCE...

1. Introduction: 1.1. Current pharmaceutical boom promises to be the next revolution after...

LEARNING & COMPETENCY DEVELOPMENT IN...

  Introduction A learning management strategy is key to an organizations liability to deliver...

Why the insurance Bill matters to you

  Policyholders will be affected by changes in agent commissions and in their appointments Last...

A wake up call by WHO and World Bank for universal health
A wake up call by WHO and World Bank...

  Roughly around 400 million people do not have the access to essential health services, as per...

Interview with Mr. P. Venugopal,...

  After taking over as the Secretary General of the Insurance Institute of India what is your...

Interview with Mr. Sushobhan Sarker, Director of NIA
Interview with Mr. Sushobhan Sarker,...

  "NIA should transform itself rapidly to be a global institution of excellence in learning and...

Life insurance sector to grow 12-15% in FY 16
Life insurance sector to grow 12-15%...

  India's life insurance industry is likely to grow by 12% to 15% in the current financial year...

HDFC Life eyes 15% growth in FYP.
HDFC Life eyes 15% growth in FYP.

  Private insurer HDFC and Standard Life, is looking at a near 15-per cent growth in first year...

Insurers prompt wellness tests for its customers & employees
Insurers prompt wellness tests for...

  Health insurers are now looking to get their customers fit, along with paying their medical...

IRDAI introduces a new health saving plan
IRDAI introduces a new health saving...

  A committee constituted by the IRDAI in its draft plan, has suggested a health savings product...

Chhattisgarh outshines national average on health insurance scheme
Chhattisgarh outshines national...

  Chhattisgarh had surpassed the national average in the implementation of the national health...

What happens if Policyholder dies within Grace Period?
What happens if Policyholder dies...

  Have you ever considered the implications of what happens to the benefits covered under an...

Must know Facts about a Convertible Insurance Policy
Must know Facts about a Convertible...

  Most individuals classify life cover as term plans and whole life plans. The fact is that there...

A SNAP SHOT ON MICRO INSURANCE IN INDIA

Introduction Risk is pervasive in the lives of poor and low-income groups. Economic, social,...

IMPLEMENTATION OF ENTERPRISE RISK...

1. Introduction : Last month, we have discussed on the various facets of Risk Management...

Insured, but do you know the claim...

The floods in Jammu and Kashmir and cyclone Hudhud in Andhra Pradesh and Odisha claimed lives and...

Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Indian Life Insurance Industry:...

The Indian life insurance industry, which was liberalized in 1999, allowing private sector...

Insurer Aetna to acquire Humana Inc
Insurer Aetna to acquire Humana Inc

Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in...

LIC investments of Rs.10K cr under close watch
LIC investments of Rs.10K cr under...

  Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner...

New amendments makes rejections to claims tight: LIC Chief
New amendments makes rejections to...

  Life insurance companies will find it almost impossible to reject claims in future because of...

All investment decisions routed after due diligence: SK Roy
All investment decisions routed after...

  Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages...

Future Generali penalized for Rs.50 lakh
Future Generali penalized for Rs.50...

  The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against...

Govt ponders 100% FDI in insurance broking
Govt ponders 100% FDI in insurance...

  The government is considering exempting insurance intermediaries, including brokers, from the...

Interview with Mr. Syed Siddiq, Head of Technical-Commercial for ANB Insurance (MetLife-AIG-ANB Cooperative Insurance Co), Saudi Arabia
Interview with Mr. Syed Siddiq, Head...

  Mr. Syed Siddiq is currently working as Head of Technical-commercial at MetLife AIC ANB...

Foreign stakes in insurers' parent not to count for FDI
Foreign stakes in insurers' parent...

  The finance ministry clarified the doubts on the fact that the foreign shareholding in parent...

Vice President Addresses at Diamond Jubilee Celebrations of the Insurance Institute of India, Mumbai
Vice President Addresses at Diamond...

  The Vice President of India Shri M. Hamid Ansari has said that Insurance can mitigate the...

IRDA Exam: Download IC 34 Book as per...

Appearing for IRDA 50 hours examination for Insurance Advisors. You can download the IC34 books...

Max Life Super Term Plan
Max Life Super Term Plan

In an increasingly uncertain world, it is your top priority to ensure that your family continues...

New India Top Up Mediclaim
New India Top Up Mediclaim

SALIENT FEATURES OF THE POLICY This Policy covers In–Patient Hospitalisation Expenses incurred in...

Additional Subjects available in...

Sr. No. Subject Code & Title Credit Points Remark 1 IC 60 - Marine Cargo Insurance...

Online Examination Schedule for December, 2015
Online Examination Schedule for...

     For any queries regarding OnLine Examination please mail at \n This email address is being...

Co-payment in health insurance only after netting hospital discounts: Irdai
Co-payment in health insurance only...

  The Irdai had recently notified that in health insurance policies with co-payment or the...

LIC's recruitment drive for 2 lakh new agents
LIC's recruitment drive for 2 lakh...

With the soaring aim to acquire its market share from private sector companies, Life Insurance...

IRDAI likely to relax corporate agency norms
IRDAI likely to relax corporate...

  The proposed  corporate agency norms that authorizes the  banks to sell a specified percentage...

India nuclear insurance pool with 1500 cr capacity formed
India nuclear insurance pool with...

General Insurance Corporation of India (GIC Re) and 11 other non-life insurers have formed the...

Hannover Re  keen to render reinsurance cover for PMSBY
Hannover Re keen to render...

Hannover Re, the world's third largest reinsurer, has decided to offer reinsurance cover for the...

Capital requirement for health...

The Insurance Regulatory and Development Authority of India (Irda) is on the mind of reducing the...

Insurers keep perpetual bonds at bay

Insurers are staying away from tier-1 perpetual bonds issued by banks because of the lack of...

Guide for Insurance Brokers Exam from...

  Guide for Insurance Brokers Exam from The Insurance Times ( For Online Exam conducted by NIA...

Canara bank inks memorandum with LIC

Canara Bank has entered into a MoU with Life Insurance Corporation of India for offering the...

Insurance behemoth's exposure in...

The financial sector has a pride of place in the equity portfolio of government-owned Life...

IRDAI directs health cover discounts...

The regulator IRDAI  in an attempt to provide the best and cost effective services for the...

Correct anomalies in product pricing:...

The Insurance Regulatory and Development Authority of India (IRDAI) has directed the  insurers to...

Psychiatric test for pilots likely...

The cost of insurance for aviation companies may rise if the Directorate General of Civil...

Pre Budget Expectations By Mr Miranjit Mukherjee, Chief Financial Officer, Tata AIG General Insurance Co Ltd
Pre Budget Expectations By Mr...

  With regard to the mood on the overall business environment and reducing blockages... While the...

Budget Expectations 2016 – 2017 by KG Krishnamoorthy Rao, MD, CEO, Future Generali India
Budget Expectations 2016 – 2017 by KG...

  It is but quite natural for our expectations to be high from this year’s Union Budget given the...

5 Financial Challenges You Face in...

  You have completed your education from one of the premier institutes in the country and are...

An Outlook for the Year 2016
An Outlook for the Year 2016

  Mr. K.G. Krishnamoorthy Rao, Managing Director and Chief Executive Officer, Future Generali...

India to control 49% of foreign ownership: IRDA
India to control 49% of foreign...

      The Insurance Laws (Amendment) Act, 2015, passed during Parliament's budget session,...

IRDA forms panel for transparency in motor insurance
IRDA forms panel for transparency in...

      Insurance regulator IRDAI set up a seven-member committee to suggest ways to bring...

IRDA: Govt should drop tax on insurance maturity proceeds
IRDA: Govt should drop tax on...

      Insurance regulator Irda will take up with the government the issue of 2 per cent income...

Insurance penetration is 3.9% in present India
Insurance penetration is 3.9% in...

  Insurance penetration in India at 3.9 per cent was below the world average of 6.3 per cent in...

Global insurers to face 10% increase in capital charges
Global insurers to face 10% increase...

  Global insurers with the greatest ties to the financial system would face an average increase...

Insurers want a game with ISL
Insurers want a game with ISL

  The Indian Super League, which has attracted some of the top - though mostly retired -...

A Buyer’s Guide to Family Health Insurance Plans in India
A Buyer’s Guide to Family Health...

  Family floater plans cover all the members in a family, unlike individual plans that cover only...

Common Retirement Pitfalls and How to Avoid Them
Common Retirement Pitfalls and How to...

  After working hard for most of your life, retirement years are among the best in your life. Now...

Health Insurance Regulation in India

Pre regulation market The Indian Parliament passed The General Insurance Business...

Insurance penetration at 10-year low

Insurance penetration, measured as a percentage of premiums to a country's gross domestic...

Dengue Care Plan from Apollo Munich Insurance
Dengue Care Plan from Apollo Munich...

  Our first of a kind Dengue Care plan offers coverage for any medical expenses incurred on...

Travel Insurance Plan from Reliance General Insurance
Travel Insurance Plan from Reliance...

  Glad you made a quick pre-trip stopover to get your travel insurance online with Reliance...

Insure Smart Plan from Canara HSBC Oriental Bank Of Commerce Life Insurance
Insure Smart Plan from Canara HSBC...

  Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit...

Lifesurance Whole Life Plan (UIN 135N035V01) from IDBI Federal Life Insurance
Lifesurance Whole Life Plan (UIN...

  Plan Overview IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked...

Household Savings in India - A...

I. Introduction Savings play a pivotal role in the capital formation of any country. The gross...

Healthcare System of India

Healthcare system of India is a mess. Results of the National Sample Survey 60th round bring out...

OPERATIONAL CHALLENGES AND SWOT...

Introduction: Liberalizations and deregulation of the financial sector, the greater use of...

Swasthya Kavach- Wider (Family Health Insurance) from Iffco Tokio Health Insurance
Swasthya Kavach- Wider (Family Health...

  Eligibility Entry Age (years) Minimum: 18 Maximum: 60 Maximum Policy Renewal Age (years): 80...

Assure Plus from Future Generali Life Insurance
Assure Plus from Future Generali Life...

  The plan offers multiple term options to suit your needs. Based on your financial goals, you...

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15
Pension business of life insurers...

  The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due...

Future Generali eyes growth on economy pickup
Future Generali eyes growth on...

  Future Generali India Insurance Company, a joint venture between retail giant Future Group and...

SBI Life to Expand Bancassurance by 50%
SBI Life to Expand Bancassurance by 50%

  The country's biggest banking network SBI along with its insurer is planning to expand...

Database to prevent insurance fraudulent claims
Database to prevent insurance...

  The Life Insurance Council, an apex industry body of life insurance companies, is planning to...

Aggressive bidding likely for Air India's $9 bn insurance cover
Aggressive bidding likely for Air...

  Insurance companies are getting ready to bid aggressively for Air India $9 billion (around...

Insurance valuations an enigma: CII-Towers Watson study
Insurance valuations an enigma:...

  A joint study by the Confederation of Indian Industry (CII) and Towers Watson has revealed that...

Ulips are cheaper, yet not useful

With the stock market going up, unit-linked insurance plans (Ulips) seem to be making a comeback....

What constitutes the commission...

One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is...

Life Insurance Council gets executive council
Life Insurance Council gets executive...

  The Life Insurance Council has elected its first Executive Committee. The Executive Committee...

PNB Met Life launches term plan
PNB Met Life launches term plan

  PNB MetLife India Insurance has strengthened its portfolio of online insurance solutions with...

LIC emerged as a market leader in Bahrain, No. 3 in the UAE
LIC emerged as a market leader in...

  Life Insurance Corporation (LIC) - India's top life insurer has emerged as the market leader in...

Need for Tech-based crop insurance solutions: IRDAI
Need for Tech-based crop insurance...

  With the growing demand of technology-based changes to make crop insurance full proof the...

IRDAI puts a check on bancassurance to curb mis-sale
IRDAI puts a check on bancassurance...

  The Insurance Regulatory and Development Authority of India has put norms against forced...

Barrage of insurance rules to flood sector
Barrage of insurance rules to flood...

  The IRDAI is set to bring out a number of new rules to conform to the New Insurance Act...

Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh to adopt national...

  Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and...

A cashless treatment for road accident victims: Modi
A cashless treatment for road...

  The Modi government is planning to have cashless treatment facilities in more parts of the...

Pvt. Execs can search jobs in Govt. General Insurers
Pvt. Execs can search jobs in Govt....

  Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now...

Which Health Insurance Plan is Right for you?
Which Health Insurance Plan is Right...

  Health insurance is a plan which gives coverage for your medical expenses. It greatly reduces...

Health Suraksha from HDFC ERGO
Health Suraksha from HDFC ERGO

  With the HDFC ERGO Health Suraksha health insurance plan, you get access to a network of more...

Complete Health Insurance Plan from Universal Sompo General Insurance Co. Ltd
Complete Health Insurance Plan from...

  Product Features: Speedy Policy Process Instant Policy can be bought online or through agents...

TWO WHEELER INSURANCE from Shriram General Insurance
TWO WHEELER INSURANCE from Shriram...

  Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial...

AEGON Religare Guaranteed Growth Insurance Plan
AEGON Religare Guaranteed Growth...

  Why buy this plan? If you are looking for an investment plan that guarantees returns, this plan...

DREAM SMART PLAN from Canara HSBC Oriental Bank of Commerce Life Insurance
DREAM SMART PLAN from Canara HSBC...

  EVERYONE HAS A SPECIAL DREAMYour future is defined by your dreams for yourself and your loved...

AAM ADMI BIMA YOJANA from LIC
AAM ADMI BIMA YOJANA from LIC

  Ministry of Finance, Government of India has approved the merger of Social Security Schemes...

LIC holds strong banking linkages
LIC holds strong banking linkages

  Life Insurance Corp. of India or LIC is ranked as the country's 11th largest insurer in terms...

Life Insurance sector triggers 20% growth in Q1
Life Insurance sector triggers 20%...

The life insurance industry has sold additional 60% Group Single Premium policies, mopping up...

LIC elevates 2 women to top brass
LIC elevates 2 women to top brass

  Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a...

IRDAI penalizes Reliance Life Insurance  for norms violations
IRDAI penalizes Reliance Life...

  The Insurance Regulatory and Development Authority of India has imposed Rs.85 lakh penalty on...

IRDA dwindle distributors commissions
IRDA dwindle distributors commissions

  The Insurance regulator under the proposed new rules has decided to reduce the commissions that...

PM's insurance plans records 300 claims till now
PM's insurance plans records 300...

  The government's New Accident and Life Insurance covers have already received more than 300...

PSU General Insurers on Promotion Spree, Elevate 21 DGMs to GMs
PSU General Insurers on Promotion...

  Public sector general insurers have promoted their 21 young officials to the posts of General...

New India Assurance records 42% increase in Q1 profit
New India Assurance records 42%...

  New India Assurance reported a 42 percent jump in net profit at Rs.441 crore in the first...

HEALTHY GROWTH OF HEALTH INSURANCE

  Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance...

CLINICAL TRIALS LIABILITY INSURANCE...

1. Introduction: 1.1. Current pharmaceutical boom promises to be the next revolution after...

LEARNING & COMPETENCY DEVELOPMENT IN...

  Introduction A learning management strategy is key to an organizations liability to deliver...

Why the insurance Bill matters to you

  Policyholders will be affected by changes in agent commissions and in their appointments Last...

A wake up call by WHO and World Bank for universal health
A wake up call by WHO and World Bank...

  Roughly around 400 million people do not have the access to essential health services, as per...

Interview with Mr. P. Venugopal,...

  After taking over as the Secretary General of the Insurance Institute of India what is your...

Interview with Mr. Sushobhan Sarker, Director of NIA
Interview with Mr. Sushobhan Sarker,...

  "NIA should transform itself rapidly to be a global institution of excellence in learning and...

Life insurance sector to grow 12-15% in FY 16
Life insurance sector to grow 12-15%...

  India's life insurance industry is likely to grow by 12% to 15% in the current financial year...

HDFC Life eyes 15% growth in FYP.
HDFC Life eyes 15% growth in FYP.

  Private insurer HDFC and Standard Life, is looking at a near 15-per cent growth in first year...

Insurers prompt wellness tests for its customers & employees
Insurers prompt wellness tests for...

  Health insurers are now looking to get their customers fit, along with paying their medical...

IRDAI introduces a new health saving plan
IRDAI introduces a new health saving...

  A committee constituted by the IRDAI in its draft plan, has suggested a health savings product...

Chhattisgarh outshines national average on health insurance scheme
Chhattisgarh outshines national...

  Chhattisgarh had surpassed the national average in the implementation of the national health...

What happens if Policyholder dies within Grace Period?
What happens if Policyholder dies...

  Have you ever considered the implications of what happens to the benefits covered under an...

Must know Facts about a Convertible Insurance Policy
Must know Facts about a Convertible...

  Most individuals classify life cover as term plans and whole life plans. The fact is that there...

A SNAP SHOT ON MICRO INSURANCE IN INDIA

Introduction Risk is pervasive in the lives of poor and low-income groups. Economic, social,...

IMPLEMENTATION OF ENTERPRISE RISK...

1. Introduction : Last month, we have discussed on the various facets of Risk Management...

Insured, but do you know the claim...

The floods in Jammu and Kashmir and cyclone Hudhud in Andhra Pradesh and Odisha claimed lives and...

Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Pre Budget Expectations By Mr Miranjit Mukherjee, Chief Financial Officer, Tata AIG General Insurance Co Ltd
Pre Budget Expectations By Mr...

  With regard to the mood on the overall business environment and reducing blockages... While the...

Budget Expectations 2016 – 2017 by KG Krishnamoorthy Rao, MD, CEO, Future Generali India
Budget Expectations 2016 – 2017 by KG...

  It is but quite natural for our expectations to be high from this year’s Union Budget given the...

5 Financial Challenges You Face in...

  You have completed your education from one of the premier institutes in the country and are...

An Outlook for the Year 2016
An Outlook for the Year 2016

  Mr. K.G. Krishnamoorthy Rao, Managing Director and Chief Executive Officer, Future Generali...

India to control 49% of foreign ownership: IRDA
India to control 49% of foreign...

      The Insurance Laws (Amendment) Act, 2015, passed during Parliament's budget session,...

IRDA forms panel for transparency in motor insurance
IRDA forms panel for transparency in...

      Insurance regulator IRDAI set up a seven-member committee to suggest ways to bring...

IRDA: Govt should drop tax on insurance maturity proceeds
IRDA: Govt should drop tax on...

      Insurance regulator Irda will take up with the government the issue of 2 per cent income...

Insurance penetration is 3.9% in present India
Insurance penetration is 3.9% in...

  Insurance penetration in India at 3.9 per cent was below the world average of 6.3 per cent in...

Global insurers to face 10% increase in capital charges
Global insurers to face 10% increase...

  Global insurers with the greatest ties to the financial system would face an average increase...

Insurers want a game with ISL
Insurers want a game with ISL

  The Indian Super League, which has attracted some of the top - though mostly retired -...

A Buyer’s Guide to Family Health Insurance Plans in India
A Buyer’s Guide to Family Health...

  Family floater plans cover all the members in a family, unlike individual plans that cover only...

Common Retirement Pitfalls and How to Avoid Them
Common Retirement Pitfalls and How to...

  After working hard for most of your life, retirement years are among the best in your life. Now...

Health Insurance Regulation in India

Pre regulation market The Indian Parliament passed The General Insurance Business...

Insurance penetration at 10-year low

Insurance penetration, measured as a percentage of premiums to a country's gross domestic...

Dengue Care Plan from Apollo Munich Insurance
Dengue Care Plan from Apollo Munich...

  Our first of a kind Dengue Care plan offers coverage for any medical expenses incurred on...

Travel Insurance Plan from Reliance General Insurance
Travel Insurance Plan from Reliance...

  Glad you made a quick pre-trip stopover to get your travel insurance online with Reliance...

Insure Smart Plan from Canara HSBC Oriental Bank Of Commerce Life Insurance
Insure Smart Plan from Canara HSBC...

  Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit...

Lifesurance Whole Life Plan (UIN 135N035V01) from IDBI Federal Life Insurance
Lifesurance Whole Life Plan (UIN...

  Plan Overview IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked...

Household Savings in India - A...

I. Introduction Savings play a pivotal role in the capital formation of any country. The gross...

Healthcare System of India

Healthcare system of India is a mess. Results of the National Sample Survey 60th round bring out...

OPERATIONAL CHALLENGES AND SWOT...

Introduction: Liberalizations and deregulation of the financial sector, the greater use of...

Swasthya Kavach- Wider (Family Health Insurance) from Iffco Tokio Health Insurance
Swasthya Kavach- Wider (Family Health...

  Eligibility Entry Age (years) Minimum: 18 Maximum: 60 Maximum Policy Renewal Age (years): 80...

Assure Plus from Future Generali Life Insurance
Assure Plus from Future Generali Life...

  The plan offers multiple term options to suit your needs. Based on your financial goals, you...

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15
Pension business of life insurers...

  The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due...

Future Generali eyes growth on economy pickup
Future Generali eyes growth on...

  Future Generali India Insurance Company, a joint venture between retail giant Future Group and...

SBI Life to Expand Bancassurance by 50%
SBI Life to Expand Bancassurance by 50%

  The country's biggest banking network SBI along with its insurer is planning to expand...

Database to prevent insurance fraudulent claims
Database to prevent insurance...

  The Life Insurance Council, an apex industry body of life insurance companies, is planning to...

Aggressive bidding likely for Air India's $9 bn insurance cover
Aggressive bidding likely for Air...

  Insurance companies are getting ready to bid aggressively for Air India $9 billion (around...

Insurance valuations an enigma: CII-Towers Watson study
Insurance valuations an enigma:...

  A joint study by the Confederation of Indian Industry (CII) and Towers Watson has revealed that...

Ulips are cheaper, yet not useful

With the stock market going up, unit-linked insurance plans (Ulips) seem to be making a comeback....

What constitutes the commission...

One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is...

Life Insurance Council gets executive council
Life Insurance Council gets executive...

  The Life Insurance Council has elected its first Executive Committee. The Executive Committee...

PNB Met Life launches term plan
PNB Met Life launches term plan

  PNB MetLife India Insurance has strengthened its portfolio of online insurance solutions with...

LIC emerged as a market leader in Bahrain, No. 3 in the UAE
LIC emerged as a market leader in...

  Life Insurance Corporation (LIC) - India's top life insurer has emerged as the market leader in...

Need for Tech-based crop insurance solutions: IRDAI
Need for Tech-based crop insurance...

  With the growing demand of technology-based changes to make crop insurance full proof the...

IRDAI puts a check on bancassurance to curb mis-sale
IRDAI puts a check on bancassurance...

  The Insurance Regulatory and Development Authority of India has put norms against forced...

Barrage of insurance rules to flood sector
Barrage of insurance rules to flood...

  The IRDAI is set to bring out a number of new rules to conform to the New Insurance Act...

Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh to adopt national...

  Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and...

A cashless treatment for road accident victims: Modi
A cashless treatment for road...

  The Modi government is planning to have cashless treatment facilities in more parts of the...

Pvt. Execs can search jobs in Govt. General Insurers
Pvt. Execs can search jobs in Govt....

  Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now...

Which Health Insurance Plan is Right for you?
Which Health Insurance Plan is Right...

  Health insurance is a plan which gives coverage for your medical expenses. It greatly reduces...

Health Suraksha from HDFC ERGO
Health Suraksha from HDFC ERGO

  With the HDFC ERGO Health Suraksha health insurance plan, you get access to a network of more...

Complete Health Insurance Plan from Universal Sompo General Insurance Co. Ltd
Complete Health Insurance Plan from...

  Product Features: Speedy Policy Process Instant Policy can be bought online or through agents...

TWO WHEELER INSURANCE from Shriram General Insurance
TWO WHEELER INSURANCE from Shriram...

  Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial...

AEGON Religare Guaranteed Growth Insurance Plan
AEGON Religare Guaranteed Growth...

  Why buy this plan? If you are looking for an investment plan that guarantees returns, this plan...

DREAM SMART PLAN from Canara HSBC Oriental Bank of Commerce Life Insurance
DREAM SMART PLAN from Canara HSBC...

  EVERYONE HAS A SPECIAL DREAMYour future is defined by your dreams for yourself and your loved...

AAM ADMI BIMA YOJANA from LIC
AAM ADMI BIMA YOJANA from LIC

  Ministry of Finance, Government of India has approved the merger of Social Security Schemes...

LIC holds strong banking linkages
LIC holds strong banking linkages

  Life Insurance Corp. of India or LIC is ranked as the country's 11th largest insurer in terms...

Life Insurance sector triggers 20% growth in Q1
Life Insurance sector triggers 20%...

The life insurance industry has sold additional 60% Group Single Premium policies, mopping up...

LIC elevates 2 women to top brass
LIC elevates 2 women to top brass

  Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a...

IRDAI penalizes Reliance Life Insurance  for norms violations
IRDAI penalizes Reliance Life...

  The Insurance Regulatory and Development Authority of India has imposed Rs.85 lakh penalty on...

IRDA dwindle distributors commissions
IRDA dwindle distributors commissions

  The Insurance regulator under the proposed new rules has decided to reduce the commissions that...

PM's insurance plans records 300 claims till now
PM's insurance plans records 300...

  The government's New Accident and Life Insurance covers have already received more than 300...

PSU General Insurers on Promotion Spree, Elevate 21 DGMs to GMs
PSU General Insurers on Promotion...

  Public sector general insurers have promoted their 21 young officials to the posts of General...

New India Assurance records 42% increase in Q1 profit
New India Assurance records 42%...

  New India Assurance reported a 42 percent jump in net profit at Rs.441 crore in the first...

HEALTHY GROWTH OF HEALTH INSURANCE

  Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance...

CLINICAL TRIALS LIABILITY INSURANCE...

1. Introduction: 1.1. Current pharmaceutical boom promises to be the next revolution after...

LEARNING & COMPETENCY DEVELOPMENT IN...

  Introduction A learning management strategy is key to an organizations liability to deliver...

Why the insurance Bill matters to you

  Policyholders will be affected by changes in agent commissions and in their appointments Last...

A wake up call by WHO and World Bank for universal health
A wake up call by WHO and World Bank...

  Roughly around 400 million people do not have the access to essential health services, as per...

Interview with Mr. P. Venugopal,...

  After taking over as the Secretary General of the Insurance Institute of India what is your...

Interview with Mr. Sushobhan Sarker, Director of NIA
Interview with Mr. Sushobhan Sarker,...

  "NIA should transform itself rapidly to be a global institution of excellence in learning and...

Life insurance sector to grow 12-15% in FY 16
Life insurance sector to grow 12-15%...

  India's life insurance industry is likely to grow by 12% to 15% in the current financial year...

HDFC Life eyes 15% growth in FYP.
HDFC Life eyes 15% growth in FYP.

  Private insurer HDFC and Standard Life, is looking at a near 15-per cent growth in first year...

Insurers prompt wellness tests for its customers & employees
Insurers prompt wellness tests for...

  Health insurers are now looking to get their customers fit, along with paying their medical...

IRDAI introduces a new health saving plan
IRDAI introduces a new health saving...

  A committee constituted by the IRDAI in its draft plan, has suggested a health savings product...

Chhattisgarh outshines national average on health insurance scheme
Chhattisgarh outshines national...

  Chhattisgarh had surpassed the national average in the implementation of the national health...

What happens if Policyholder dies within Grace Period?
What happens if Policyholder dies...

  Have you ever considered the implications of what happens to the benefits covered under an...

Must know Facts about a Convertible Insurance Policy
Must know Facts about a Convertible...

  Most individuals classify life cover as term plans and whole life plans. The fact is that there...

A SNAP SHOT ON MICRO INSURANCE IN INDIA

Introduction Risk is pervasive in the lives of poor and low-income groups. Economic, social,...

IMPLEMENTATION OF ENTERPRISE RISK...

1. Introduction : Last month, we have discussed on the various facets of Risk Management...

Insured, but do you know the claim...

The floods in Jammu and Kashmir and cyclone Hudhud in Andhra Pradesh and Odisha claimed lives and...

Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Indian Life Insurance Industry:...

The Indian life insurance industry, which was liberalized in 1999, allowing private sector...

Insurer Aetna to acquire Humana Inc
Insurer Aetna to acquire Humana Inc

Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in...

LIC investments of Rs.10K cr under close watch
LIC investments of Rs.10K cr under...

  Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner...

New amendments makes rejections to claims tight: LIC Chief
New amendments makes rejections to...

  Life insurance companies will find it almost impossible to reject claims in future because of...

All investment decisions routed after due diligence: SK Roy
All investment decisions routed after...

  Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages...

Future Generali penalized for Rs.50 lakh
Future Generali penalized for Rs.50...

  The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against...

Govt ponders 100% FDI in insurance broking
Govt ponders 100% FDI in insurance...

  The government is considering exempting insurance intermediaries, including brokers, from the...

Interview with Mr. Syed Siddiq, Head of Technical-Commercial for ANB Insurance (MetLife-AIG-ANB Cooperative Insurance Co), Saudi Arabia
Interview with Mr. Syed Siddiq, Head...

  Mr. Syed Siddiq is currently working as Head of Technical-commercial at MetLife AIC ANB...

Foreign stakes in insurers' parent not to count for FDI
Foreign stakes in insurers' parent...

  The finance ministry clarified the doubts on the fact that the foreign shareholding in parent...

Vice President Addresses at Diamond Jubilee Celebrations of the Insurance Institute of India, Mumbai
Vice President Addresses at Diamond...

  The Vice President of India Shri M. Hamid Ansari has said that Insurance can mitigate the...

IRDA Exam: Download IC 34 Book as per...

Appearing for IRDA 50 hours examination for Insurance Advisors. You can download the IC34 books...

Max Life Super Term Plan
Max Life Super Term Plan

In an increasingly uncertain world, it is your top priority to ensure that your family continues...

New India Top Up Mediclaim
New India Top Up Mediclaim

SALIENT FEATURES OF THE POLICY This Policy covers In–Patient Hospitalisation Expenses incurred in...

Additional Subjects available in...

Sr. No. Subject Code & Title Credit Points Remark 1 IC 60 - Marine Cargo Insurance...

Online Examination Schedule for December, 2015
Online Examination Schedule for...

     For any queries regarding OnLine Examination please mail at \n This email address is being...

Co-payment in health insurance only after netting hospital discounts: Irdai
Co-payment in health insurance only...

  The Irdai had recently notified that in health insurance policies with co-payment or the...

LIC's recruitment drive for 2 lakh new agents
LIC's recruitment drive for 2 lakh...

With the soaring aim to acquire its market share from private sector companies, Life Insurance...

IRDAI likely to relax corporate agency norms
IRDAI likely to relax corporate...

  The proposed  corporate agency norms that authorizes the  banks to sell a specified percentage...

India nuclear insurance pool with 1500 cr capacity formed
India nuclear insurance pool with...

General Insurance Corporation of India (GIC Re) and 11 other non-life insurers have formed the...

Hannover Re  keen to render reinsurance cover for PMSBY
Hannover Re keen to render...

Hannover Re, the world's third largest reinsurer, has decided to offer reinsurance cover for the...

Capital requirement for health...

The Insurance Regulatory and Development Authority of India (Irda) is on the mind of reducing the...

Insurers keep perpetual bonds at bay

Insurers are staying away from tier-1 perpetual bonds issued by banks because of the lack of...

Guide for Insurance Brokers Exam from...

  Guide for Insurance Brokers Exam from The Insurance Times ( For Online Exam conducted by NIA...

Pre Budget Expectations By Mr Miranjit Mukherjee, Chief Financial Officer, Tata AIG General Insurance Co Ltd
Pre Budget Expectations By Mr...

  With regard to the mood on the overall business environment and reducing blockages... While the...

Budget Expectations 2016 – 2017 by KG Krishnamoorthy Rao, MD, CEO, Future Generali India
Budget Expectations 2016 – 2017 by KG...

  It is but quite natural for our expectations to be high from this year’s Union Budget given the...

5 Financial Challenges You Face in...

  You have completed your education from one of the premier institutes in the country and are...

An Outlook for the Year 2016
An Outlook for the Year 2016

  Mr. K.G. Krishnamoorthy Rao, Managing Director and Chief Executive Officer, Future Generali...

India to control 49% of foreign ownership: IRDA
India to control 49% of foreign...

      The Insurance Laws (Amendment) Act, 2015, passed during Parliament's budget session,...

IRDA forms panel for transparency in motor insurance
IRDA forms panel for transparency in...

      Insurance regulator IRDAI set up a seven-member committee to suggest ways to bring...

IRDA: Govt should drop tax on insurance maturity proceeds
IRDA: Govt should drop tax on...

      Insurance regulator Irda will take up with the government the issue of 2 per cent income...

Insurance penetration is 3.9% in present India
Insurance penetration is 3.9% in...

  Insurance penetration in India at 3.9 per cent was below the world average of 6.3 per cent in...

Global insurers to face 10% increase in capital charges
Global insurers to face 10% increase...

  Global insurers with the greatest ties to the financial system would face an average increase...

Insurers want a game with ISL
Insurers want a game with ISL

  The Indian Super League, which has attracted some of the top - though mostly retired -...

A Buyer’s Guide to Family Health Insurance Plans in India
A Buyer’s Guide to Family Health...

  Family floater plans cover all the members in a family, unlike individual plans that cover only...

Common Retirement Pitfalls and How to Avoid Them
Common Retirement Pitfalls and How to...

  After working hard for most of your life, retirement years are among the best in your life. Now...

Health Insurance Regulation in India

Pre regulation market The Indian Parliament passed The General Insurance Business...

Insurance penetration at 10-year low

Insurance penetration, measured as a percentage of premiums to a country's gross domestic...

Dengue Care Plan from Apollo Munich Insurance
Dengue Care Plan from Apollo Munich...

  Our first of a kind Dengue Care plan offers coverage for any medical expenses incurred on...

Travel Insurance Plan from Reliance General Insurance
Travel Insurance Plan from Reliance...

  Glad you made a quick pre-trip stopover to get your travel insurance online with Reliance...

Insure Smart Plan from Canara HSBC Oriental Bank Of Commerce Life Insurance
Insure Smart Plan from Canara HSBC...

  Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit...

Lifesurance Whole Life Plan (UIN 135N035V01) from IDBI Federal Life Insurance
Lifesurance Whole Life Plan (UIN...

  Plan Overview IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked...

Household Savings in India - A...

I. Introduction Savings play a pivotal role in the capital formation of any country. The gross...

Healthcare System of India

Healthcare system of India is a mess. Results of the National Sample Survey 60th round bring out...

OPERATIONAL CHALLENGES AND SWOT...

Introduction: Liberalizations and deregulation of the financial sector, the greater use of...

Swasthya Kavach- Wider (Family Health Insurance) from Iffco Tokio Health Insurance
Swasthya Kavach- Wider (Family Health...

  Eligibility Entry Age (years) Minimum: 18 Maximum: 60 Maximum Policy Renewal Age (years): 80...

Assure Plus from Future Generali Life Insurance
Assure Plus from Future Generali Life...

  The plan offers multiple term options to suit your needs. Based on your financial goals, you...

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15
Pension business of life insurers...

  The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due...

Future Generali eyes growth on economy pickup
Future Generali eyes growth on...

  Future Generali India Insurance Company, a joint venture between retail giant Future Group and...

SBI Life to Expand Bancassurance by 50%
SBI Life to Expand Bancassurance by 50%

  The country's biggest banking network SBI along with its insurer is planning to expand...

Database to prevent insurance fraudulent claims
Database to prevent insurance...

  The Life Insurance Council, an apex industry body of life insurance companies, is planning to...

Aggressive bidding likely for Air India's $9 bn insurance cover
Aggressive bidding likely for Air...

  Insurance companies are getting ready to bid aggressively for Air India $9 billion (around...

Insurance valuations an enigma: CII-Towers Watson study
Insurance valuations an enigma:...

  A joint study by the Confederation of Indian Industry (CII) and Towers Watson has revealed that...

Ulips are cheaper, yet not useful

With the stock market going up, unit-linked insurance plans (Ulips) seem to be making a comeback....

What constitutes the commission...

One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is...

Life Insurance Council gets executive council
Life Insurance Council gets executive...

  The Life Insurance Council has elected its first Executive Committee. The Executive Committee...

PNB Met Life launches term plan
PNB Met Life launches term plan

  PNB MetLife India Insurance has strengthened its portfolio of online insurance solutions with...

LIC emerged as a market leader in Bahrain, No. 3 in the UAE
LIC emerged as a market leader in...

  Life Insurance Corporation (LIC) - India's top life insurer has emerged as the market leader in...

Need for Tech-based crop insurance solutions: IRDAI
Need for Tech-based crop insurance...

  With the growing demand of technology-based changes to make crop insurance full proof the...

IRDAI puts a check on bancassurance to curb mis-sale
IRDAI puts a check on bancassurance...

  The Insurance Regulatory and Development Authority of India has put norms against forced...

Barrage of insurance rules to flood sector
Barrage of insurance rules to flood...

  The IRDAI is set to bring out a number of new rules to conform to the New Insurance Act...

Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh to adopt national...

  Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and...

A cashless treatment for road accident victims: Modi
A cashless treatment for road...

  The Modi government is planning to have cashless treatment facilities in more parts of the...

Pvt. Execs can search jobs in Govt. General Insurers
Pvt. Execs can search jobs in Govt....

  Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now...

Which Health Insurance Plan is Right for you?
Which Health Insurance Plan is Right...

  Health insurance is a plan which gives coverage for your medical expenses. It greatly reduces...

Health Suraksha from HDFC ERGO
Health Suraksha from HDFC ERGO

  With the HDFC ERGO Health Suraksha health insurance plan, you get access to a network of more...

Complete Health Insurance Plan from Universal Sompo General Insurance Co. Ltd
Complete Health Insurance Plan from...

  Product Features: Speedy Policy Process Instant Policy can be bought online or through agents...

TWO WHEELER INSURANCE from Shriram General Insurance
TWO WHEELER INSURANCE from Shriram...

  Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial...

AEGON Religare Guaranteed Growth Insurance Plan
AEGON Religare Guaranteed Growth...

  Why buy this plan? If you are looking for an investment plan that guarantees returns, this plan...

DREAM SMART PLAN from Canara HSBC Oriental Bank of Commerce Life Insurance
DREAM SMART PLAN from Canara HSBC...

  EVERYONE HAS A SPECIAL DREAMYour future is defined by your dreams for yourself and your loved...

AAM ADMI BIMA YOJANA from LIC
AAM ADMI BIMA YOJANA from LIC

  Ministry of Finance, Government of India has approved the merger of Social Security Schemes...

LIC holds strong banking linkages
LIC holds strong banking linkages

  Life Insurance Corp. of India or LIC is ranked as the country's 11th largest insurer in terms...

Life Insurance sector triggers 20% growth in Q1
Life Insurance sector triggers 20%...

The life insurance industry has sold additional 60% Group Single Premium policies, mopping up...

LIC elevates 2 women to top brass
LIC elevates 2 women to top brass

  Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a...

IRDAI penalizes Reliance Life Insurance  for norms violations
IRDAI penalizes Reliance Life...

  The Insurance Regulatory and Development Authority of India has imposed Rs.85 lakh penalty on...

IRDA dwindle distributors commissions
IRDA dwindle distributors commissions

  The Insurance regulator under the proposed new rules has decided to reduce the commissions that...

PM's insurance plans records 300 claims till now
PM's insurance plans records 300...

  The government's New Accident and Life Insurance covers have already received more than 300...

PSU General Insurers on Promotion Spree, Elevate 21 DGMs to GMs
PSU General Insurers on Promotion...

  Public sector general insurers have promoted their 21 young officials to the posts of General...

New India Assurance records 42% increase in Q1 profit
New India Assurance records 42%...

  New India Assurance reported a 42 percent jump in net profit at Rs.441 crore in the first...

HEALTHY GROWTH OF HEALTH INSURANCE

  Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance...

CLINICAL TRIALS LIABILITY INSURANCE...

1. Introduction: 1.1. Current pharmaceutical boom promises to be the next revolution after...

LEARNING & COMPETENCY DEVELOPMENT IN...

  Introduction A learning management strategy is key to an organizations liability to deliver...

Why the insurance Bill matters to you

  Policyholders will be affected by changes in agent commissions and in their appointments Last...

A wake up call by WHO and World Bank for universal health
A wake up call by WHO and World Bank...

  Roughly around 400 million people do not have the access to essential health services, as per...

Interview with Mr. P. Venugopal,...

  After taking over as the Secretary General of the Insurance Institute of India what is your...

Interview with Mr. Sushobhan Sarker, Director of NIA
Interview with Mr. Sushobhan Sarker,...

  "NIA should transform itself rapidly to be a global institution of excellence in learning and...

Life insurance sector to grow 12-15% in FY 16
Life insurance sector to grow 12-15%...

  India's life insurance industry is likely to grow by 12% to 15% in the current financial year...

HDFC Life eyes 15% growth in FYP.
HDFC Life eyes 15% growth in FYP.

  Private insurer HDFC and Standard Life, is looking at a near 15-per cent growth in first year...

Insurers prompt wellness tests for its customers & employees
Insurers prompt wellness tests for...

  Health insurers are now looking to get their customers fit, along with paying their medical...

IRDAI introduces a new health saving plan
IRDAI introduces a new health saving...

  A committee constituted by the IRDAI in its draft plan, has suggested a health savings product...

Chhattisgarh outshines national average on health insurance scheme
Chhattisgarh outshines national...

  Chhattisgarh had surpassed the national average in the implementation of the national health...

What happens if Policyholder dies within Grace Period?
What happens if Policyholder dies...

  Have you ever considered the implications of what happens to the benefits covered under an...

Must know Facts about a Convertible Insurance Policy
Must know Facts about a Convertible...

  Most individuals classify life cover as term plans and whole life plans. The fact is that there...

A SNAP SHOT ON MICRO INSURANCE IN INDIA

Introduction Risk is pervasive in the lives of poor and low-income groups. Economic, social,...

IMPLEMENTATION OF ENTERPRISE RISK...

1. Introduction : Last month, we have discussed on the various facets of Risk Management...

Insured, but do you know the claim...

The floods in Jammu and Kashmir and cyclone Hudhud in Andhra Pradesh and Odisha claimed lives and...

Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Indian Life Insurance Industry:...

The Indian life insurance industry, which was liberalized in 1999, allowing private sector...

Insurer Aetna to acquire Humana Inc
Insurer Aetna to acquire Humana Inc

Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in...

LIC investments of Rs.10K cr under close watch
LIC investments of Rs.10K cr under...

  Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner...

New amendments makes rejections to claims tight: LIC Chief
New amendments makes rejections to...

  Life insurance companies will find it almost impossible to reject claims in future because of...

All investment decisions routed after due diligence: SK Roy
All investment decisions routed after...

  Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages...

Future Generali penalized for Rs.50 lakh
Future Generali penalized for Rs.50...

  The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against...

Govt ponders 100% FDI in insurance broking
Govt ponders 100% FDI in insurance...

  The government is considering exempting insurance intermediaries, including brokers, from the...

Pre Budget Expectations By Mr Miranjit Mukherjee, Chief Financial Officer, Tata AIG General Insurance Co Ltd
Pre Budget Expectations By Mr...

  With regard to the mood on the overall business environment and reducing blockages... While the...

Budget Expectations 2016 – 2017 by KG Krishnamoorthy Rao, MD, CEO, Future Generali India
Budget Expectations 2016 – 2017 by KG...

  It is but quite natural for our expectations to be high from this year’s Union Budget given the...

5 Financial Challenges You Face in...

  You have completed your education from one of the premier institutes in the country and are...

An Outlook for the Year 2016
An Outlook for the Year 2016

  Mr. K.G. Krishnamoorthy Rao, Managing Director and Chief Executive Officer, Future Generali...

India to control 49% of foreign ownership: IRDA
India to control 49% of foreign...

      The Insurance Laws (Amendment) Act, 2015, passed during Parliament's budget session,...

IRDA forms panel for transparency in motor insurance
IRDA forms panel for transparency in...

      Insurance regulator IRDAI set up a seven-member committee to suggest ways to bring...

IRDA: Govt should drop tax on insurance maturity proceeds
IRDA: Govt should drop tax on...

      Insurance regulator Irda will take up with the government the issue of 2 per cent income...

Insurance penetration is 3.9% in present India
Insurance penetration is 3.9% in...

  Insurance penetration in India at 3.9 per cent was below the world average of 6.3 per cent in...

Global insurers to face 10% increase in capital charges
Global insurers to face 10% increase...

  Global insurers with the greatest ties to the financial system would face an average increase...

Insurers want a game with ISL
Insurers want a game with ISL

  The Indian Super League, which has attracted some of the top - though mostly retired -...

A Buyer’s Guide to Family Health Insurance Plans in India
A Buyer’s Guide to Family Health...

  Family floater plans cover all the members in a family, unlike individual plans that cover only...

Common Retirement Pitfalls and How to Avoid Them
Common Retirement Pitfalls and How to...

  After working hard for most of your life, retirement years are among the best in your life. Now...

Health Insurance Regulation in India

Pre regulation market The Indian Parliament passed The General Insurance Business...

Insurance penetration at 10-year low

Insurance penetration, measured as a percentage of premiums to a country's gross domestic...

Dengue Care Plan from Apollo Munich Insurance
Dengue Care Plan from Apollo Munich...

  Our first of a kind Dengue Care plan offers coverage for any medical expenses incurred on...

Travel Insurance Plan from Reliance General Insurance
Travel Insurance Plan from Reliance...

  Glad you made a quick pre-trip stopover to get your travel insurance online with Reliance...

Insure Smart Plan from Canara HSBC Oriental Bank Of Commerce Life Insurance
Insure Smart Plan from Canara HSBC...

  Canara HSBC Oriental Bank Of Commerce Life Insurance company's Insure Smart Plan is a unit...

Lifesurance Whole Life Plan (UIN 135N035V01) from IDBI Federal Life Insurance
Lifesurance Whole Life Plan (UIN...

  Plan Overview IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked...

Household Savings in India - A...

I. Introduction Savings play a pivotal role in the capital formation of any country. The gross...

Healthcare System of India

Healthcare system of India is a mess. Results of the National Sample Survey 60th round bring out...

OPERATIONAL CHALLENGES AND SWOT...

Introduction: Liberalizations and deregulation of the financial sector, the greater use of...

Swasthya Kavach- Wider (Family Health Insurance) from Iffco Tokio Health Insurance
Swasthya Kavach- Wider (Family Health...

  Eligibility Entry Age (years) Minimum: 18 Maximum: 60 Maximum Policy Renewal Age (years): 80...

Assure Plus from Future Generali Life Insurance
Assure Plus from Future Generali Life...

  The plan offers multiple term options to suit your needs. Based on your financial goals, you...

Pension business of life insurers plunges 90% to Rs 2,000 cr in FY15
Pension business of life insurers...

  The life insurance industry is bearing the brunt of a 90 per cent fall in pension business due...

Future Generali eyes growth on economy pickup
Future Generali eyes growth on...

  Future Generali India Insurance Company, a joint venture between retail giant Future Group and...

SBI Life to Expand Bancassurance by 50%
SBI Life to Expand Bancassurance by 50%

  The country's biggest banking network SBI along with its insurer is planning to expand...

Database to prevent insurance fraudulent claims
Database to prevent insurance...

  The Life Insurance Council, an apex industry body of life insurance companies, is planning to...

Aggressive bidding likely for Air India's $9 bn insurance cover
Aggressive bidding likely for Air...

  Insurance companies are getting ready to bid aggressively for Air India $9 billion (around...

Insurance valuations an enigma: CII-Towers Watson study
Insurance valuations an enigma:...

  A joint study by the Confederation of Indian Industry (CII) and Towers Watson has revealed that...

Ulips are cheaper, yet not useful

With the stock market going up, unit-linked insurance plans (Ulips) seem to be making a comeback....

What constitutes the commission...

One of the major changes in insurance rules effected by the Insurance Laws Amendment Ordinance is...

Life Insurance Council gets executive council
Life Insurance Council gets executive...

  The Life Insurance Council has elected its first Executive Committee. The Executive Committee...

PNB Met Life launches term plan
PNB Met Life launches term plan

  PNB MetLife India Insurance has strengthened its portfolio of online insurance solutions with...

LIC emerged as a market leader in Bahrain, No. 3 in the UAE
LIC emerged as a market leader in...

  Life Insurance Corporation (LIC) - India's top life insurer has emerged as the market leader in...

Need for Tech-based crop insurance solutions: IRDAI
Need for Tech-based crop insurance...

  With the growing demand of technology-based changes to make crop insurance full proof the...

IRDAI puts a check on bancassurance to curb mis-sale
IRDAI puts a check on bancassurance...

  The Insurance Regulatory and Development Authority of India has put norms against forced...

Barrage of insurance rules to flood sector
Barrage of insurance rules to flood...

  The IRDAI is set to bring out a number of new rules to conform to the New Insurance Act...

Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh to adopt national...

  Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and...

A cashless treatment for road accident victims: Modi
A cashless treatment for road...

  The Modi government is planning to have cashless treatment facilities in more parts of the...

Pvt. Execs can search jobs in Govt. General Insurers
Pvt. Execs can search jobs in Govt....

  Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now...

Which Health Insurance Plan is Right for you?
Which Health Insurance Plan is Right...

  Health insurance is a plan which gives coverage for your medical expenses. It greatly reduces...

Health Suraksha from HDFC ERGO
Health Suraksha from HDFC ERGO

  With the HDFC ERGO Health Suraksha health insurance plan, you get access to a network of more...

Complete Health Insurance Plan from Universal Sompo General Insurance Co. Ltd
Complete Health Insurance Plan from...

  Product Features: Speedy Policy Process Instant Policy can be bought online or through agents...

TWO WHEELER INSURANCE from Shriram General Insurance
TWO WHEELER INSURANCE from Shriram...

  Shriram General Insurance’s Two Wheeler Insurance Policy aims to protect you from the financial...

AEGON Religare Guaranteed Growth Insurance Plan
AEGON Religare Guaranteed Growth...

  Why buy this plan? If you are looking for an investment plan that guarantees returns, this plan...

DREAM SMART PLAN from Canara HSBC Oriental Bank of Commerce Life Insurance
DREAM SMART PLAN from Canara HSBC...

  EVERYONE HAS A SPECIAL DREAMYour future is defined by your dreams for yourself and your loved...

AAM ADMI BIMA YOJANA from LIC
AAM ADMI BIMA YOJANA from LIC

  Ministry of Finance, Government of India has approved the merger of Social Security Schemes...

LIC holds strong banking linkages
LIC holds strong banking linkages

  Life Insurance Corp. of India or LIC is ranked as the country's 11th largest insurer in terms...

Life Insurance sector triggers 20% growth in Q1
Life Insurance sector triggers 20%...

The life insurance industry has sold additional 60% Group Single Premium policies, mopping up...

LIC elevates 2 women to top brass
LIC elevates 2 women to top brass

  Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a...

IRDAI penalizes Reliance Life Insurance  for norms violations
IRDAI penalizes Reliance Life...

  The Insurance Regulatory and Development Authority of India has imposed Rs.85 lakh penalty on...

IRDA dwindle distributors commissions
IRDA dwindle distributors commissions

  The Insurance regulator under the proposed new rules has decided to reduce the commissions that...

PM's insurance plans records 300 claims till now
PM's insurance plans records 300...

  The government's New Accident and Life Insurance covers have already received more than 300...

PSU General Insurers on Promotion Spree, Elevate 21 DGMs to GMs
PSU General Insurers on Promotion...

  Public sector general insurers have promoted their 21 young officials to the posts of General...

New India Assurance records 42% increase in Q1 profit
New India Assurance records 42%...

  New India Assurance reported a 42 percent jump in net profit at Rs.441 crore in the first...

HEALTHY GROWTH OF HEALTH INSURANCE

  Clocking a compounded annual growth rate (CAGR) of 20 per cent, India's health insurance...

CLINICAL TRIALS LIABILITY INSURANCE...

1. Introduction: 1.1. Current pharmaceutical boom promises to be the next revolution after...

LEARNING & COMPETENCY DEVELOPMENT IN...

  Introduction A learning management strategy is key to an organizations liability to deliver...

Why the insurance Bill matters to you

  Policyholders will be affected by changes in agent commissions and in their appointments Last...

A wake up call by WHO and World Bank for universal health
A wake up call by WHO and World Bank...

  Roughly around 400 million people do not have the access to essential health services, as per...

Interview with Mr. P. Venugopal,...

  After taking over as the Secretary General of the Insurance Institute of India what is your...

Interview with Mr. Sushobhan Sarker, Director of NIA
Interview with Mr. Sushobhan Sarker,...

  "NIA should transform itself rapidly to be a global institution of excellence in learning and...

Life insurance sector to grow 12-15% in FY 16
Life insurance sector to grow 12-15%...

  India's life insurance industry is likely to grow by 12% to 15% in the current financial year...

HDFC Life eyes 15% growth in FYP.
HDFC Life eyes 15% growth in FYP.

  Private insurer HDFC and Standard Life, is looking at a near 15-per cent growth in first year...

Insurers prompt wellness tests for its customers & employees
Insurers prompt wellness tests for...

  Health insurers are now looking to get their customers fit, along with paying their medical...

IRDAI introduces a new health saving plan
IRDAI introduces a new health saving...

  A committee constituted by the IRDAI in its draft plan, has suggested a health savings product...

Chhattisgarh outshines national average on health insurance scheme
Chhattisgarh outshines national...

  Chhattisgarh had surpassed the national average in the implementation of the national health...

What happens if Policyholder dies within Grace Period?
What happens if Policyholder dies...

  Have you ever considered the implications of what happens to the benefits covered under an...

Must know Facts about a Convertible Insurance Policy
Must know Facts about a Convertible...

  Most individuals classify life cover as term plans and whole life plans. The fact is that there...

A SNAP SHOT ON MICRO INSURANCE IN INDIA

Introduction Risk is pervasive in the lives of poor and low-income groups. Economic, social,...

IMPLEMENTATION OF ENTERPRISE RISK...

1. Introduction : Last month, we have discussed on the various facets of Risk Management...

Insured, but do you know the claim...

The floods in Jammu and Kashmir and cyclone Hudhud in Andhra Pradesh and Odisha claimed lives and...

Lifestyle Protection-Accident Care from Cigna TTK Health Insurance
Lifestyle Protection-Accident Care...

      Cigna TTK Lifestyle Protection-Accident Care plan provides a comprehensive coverage that...

Life Smart Woman Plan from HDFC Life Insurance
Life Smart Woman Plan from HDFC Life...

  Features/Benefits  An award winning unique insurance cum investment plan designed specifically...

Customer Retention- A Major Concern...

Introduction:   Just like Formula 1 racing, insurance companies are racing in market to offer...

Introduction of Certificate course on
Introduction of Certificate course on...

  It is to inform that Insurance Institute of India have introduced a Certificate Course on...

Exide Life on a recruitment drive for fresh agents
Exide Life on a recruitment drive for...

  Exide Life Insurance plans to hire about 20,000 agents in the current financial year in order...

SBI Life declares tablet-based digitization service
SBI Life declares tablet-based...

  SBI Life Insurance has introduced 'Connect Life', a tablet-based service to digitize the entire...

Cashless mediclaim fetches more cash than reimbursement plans
Cashless mediclaim fetches more cash...

  The recent observations has brought that the average cashless claim disbursal is nearly double...

A new farm income insurance scheme for farmers: Rajnath
A new farm income insurance scheme...

  The Centre is working on a new farm insurance and income scheme that will help increase...

Future Generali shifts focus to data analytics
Future Generali shifts focus to data...

  Future Generali is shifting focus for using the data on millions of customers that outlets such...

ICICI Lombard introduces 'Photo Quote' on mobile app
ICICI Lombard introduces 'Photo...

  ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature...

Insurers are biggest source of funds for NBFCs: FSR
Insurers are biggest source of funds...

  Insurance companies have been believed to be the largest source of funds for non-banking...

TPA director should be MBBS graduate
TPA director should be MBBS graduate

  The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one...

A STUDY ON CUSTOMER RELATIONSHIP...

Introduction Life Insurance is critical for the development of Indian economy. Apart from a brief...

Co-mingled Cargo

What is co-mingled cargo? The cargo is considered to be "Co-mingled" when a ship loads cargo of...

Use of social media for product promotions
Use of social media for product...

  Life Insurance companies are now eyeing the social media such as Facebook and twitter in order...

Bajaj Allianz Life set to double agency force
Bajaj Allianz Life set to double...

Bajaj Allianz Life Insurance Company plans to double its 'active' agency force to about 60,000...

LIC soon to operate in Bangladesh
LIC soon to operate in Bangladesh

  Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in...

One claim per day settled under PM's insurance schemes
One claim per day settled under PM's...

  A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri...

Research reactors not eligible for nuclear insurance pool
Research reactors not eligible for...

It has been recently revealed that the India's research reactors will not be covered under the...

DD, AIR to publicize claim settlement of  PM's insurance schemes
DD, AIR to publicize claim settlement...

  The finance ministry is seeking wide publicity for the claim settlement procedures under the...

Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Report of the Committee...

Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so...

UNDERSTANDING OF RISK MANAGEMENT...

1. Introduction: First of all we need to look at the how Risk Management Module presently...

Indian Life Insurance Industry:...

The Indian life insurance industry, which was liberalized in 1999, allowing private sector...

Insurer Aetna to acquire Humana Inc
Insurer Aetna to acquire Humana Inc

Health insurer Aetna said it would buy smaller rival Humana Inc for about dollar 37 billion in...

LIC investments of Rs.10K cr under close watch
LIC investments of Rs.10K cr under...

  Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner...

New amendments makes rejections to claims tight: LIC Chief
New amendments makes rejections to...

  Life insurance companies will find it almost impossible to reject claims in future because of...

All investment decisions routed after due diligence: SK Roy
All investment decisions routed after...

  Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages...

Future Generali penalized for Rs.50 lakh
Future Generali penalized for Rs.50...

  The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against...

Govt ponders 100% FDI in insurance broking
Govt ponders 100% FDI in insurance...

  The government is considering exempting insurance intermediaries, including brokers, from the...

Interview with Mr. Syed Siddiq, Head of Technical-Commercial for ANB Insurance (MetLife-AIG-ANB Cooperative Insurance Co), Saudi Arabia
Interview with Mr. Syed Siddiq, Head...

  Mr. Syed Siddiq is currently working as Head of Technical-commercial at MetLife AIC ANB...

Foreign stakes in insurers' parent not to count for FDI
Foreign stakes in insurers' parent...

  The finance ministry clarified the doubts on the fact that the foreign shareholding in parent...

Vice President Addresses at Diamond Jubilee Celebrations of the Insurance Institute of India, Mumbai
Vice President Addresses at Diamond...

  The Vice President of India Shri M. Hamid Ansari has said that Insurance can mitigate the...

IRDA Exam: Download IC 34 Book as per...

Appearing for IRDA 50 hours examination for Insurance Advisors. You can download the IC34 books...

Max Life Super Term Plan
Max Life Super Term Plan

In an increasingly uncertain world, it is your top priority to ensure that your family continues...

New India Top Up Mediclaim
New India Top Up Mediclaim

SALIENT FEATURES OF THE POLICY This Policy covers In–Patient Hospitalisation Expenses incurred in...

Additional Subjects available in...

Sr. No. Subject Code & Title Credit Points Remark 1 IC 60 - Marine Cargo Insurance...

Online Examination Schedule for December, 2015
Online Examination Schedule for...

     For any queries regarding OnLine Examination please mail at \n This email address is being...

Co-payment in health insurance only after netting hospital discounts: Irdai
Co-payment in health insurance only...

  The Irdai had recently notified that in health insurance policies with co-payment or the...

LIC's recruitment drive for 2 lakh new agents
LIC's recruitment drive for 2 lakh...

With the soaring aim to acquire its market share from private sector companies, Life Insurance...

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