IRDA cancels Corporate Agency License of M/s. Abira Insurance Services Ltd, a group concern of Golden Trust Financial Services

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Created on 30 April 2012 Last Updated on 14 March 2013 Published Date
Written by Bimabazaar- Adminstrator

IRDA cancels Corporate Agency License of M/s. Abira Insurance Services Ltd, a group concern of Golden Trust Financial Services due to violation of rules and regulation of IRDA

 

ORDER OF THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY IN RESPECT OF M/S. ABIRA INSURANCE SERVICES LIMITED

1. M/s Abira Insurance services Ltd. (herein after referred to as ‘the Corporate Agent’) was granted a license bearing number 2498927 on 20th July,2006 to act as a corporate agent of M/s Max New York Life Insurance Co. Ltd. (hereinafter referred to as ‘the insurer), for a period of three years.

The said license was renewed in the year 2009 for a further period of three years and hence valid upto 19.07.2012. In terms thereof, the Corporate Agent was subject to the terms and conditions of the license issued to it and was also required to abide by the relevant provisions of the Insurance Act, 1938 (hereinafter referred to as ‘the Act’), the Insurance Regulatory and Development Authority Act, 1999 (hereinafter referred to as ‘the IRDA Act, 1999), the Insurance Regulatory and Development Authority (Licensing of Corporate Agents) Regulations, 2002 (hereinafter referred to as ‘the Regulations’) and other directions issued by the Authority from time to time by way of circulars and/or guidelines particularly, Circular No. 017/IRDA/Circular/CA Guidelines/2005 dated 14th July 2005 (hereinafter referred to as ‘the Guidelines).

2. By virtue of powers vested in the Authority under section 14 (2) (h) of the IRDA Act, 1999 the Authority has conducted an On Site Inspection of the corporate agent at its office at Kolkata on 29th February 2008. Based on the findings of the inspection report, the Authority issued a notice to Show Cause vide letters dated 11th November,2009 & 9th April,2011 to the corporate agent.

Responses dated 30th November, 2009 and 29th April, 2011 were received from the corporate agent to the above referred show cause notices. Vide Show cause notice dated 9th April, 2011 and the Authority’s letter dated 22.12.2011, the corporate agent was advised whether they desire to have an opportunity of personal hearing. However vide reply dated 24.12.2011 the corporate agent did not seek opportunity of being heard. Hence it has been decided to proceed on the basis of material available on record.The following decisions have been taken on each of the charges:-

i) Charge 1: Corporate Agency License bearing no. 1416667 was granted to Golden Trust Financial Services by LIC of India on 06/10/2006 which was valid upto 05/10/2009.The same set of individual belonging to M/s Golden Trust Group have floated Abira Insurance Services Ltd and obtained another corporate agency license bearing no.2498927 on 20.07.2009 from Max New York Life Insurance Co.Ltd. without disclosing about insurance related activities of any of the members of its group. This amounts to violation of Clause 5 of Guidelines on Licensing of Corporate Agents issued vide Circular No.017/IRDA/Circular/CA Guidelines/2005 dated 14th July, 2005.

Decision:The corporate agent has denied the charges and stated that Abira Insurance Services is having an independent and distinct identity without belonging to any group and exclusively engaged in distribution of insurance products of the Insurer. On examination of the inspection observation, reply of the corporate agent, and other related documents it is observed that the following three corporate agency licenses have been obtained from LIC & MNYL.

Mr.Babaesh Majumdar is promoter of the entity at Sl.No.1 above and holding 89% share in the said entity. The major shareholder in the entity at S.No.3 is Mrs. Abira Majumdar D/o Babesh Majumdar. Her stake in the said entity is 79.72%. Hence in terms of Clause 5 of Guidelines, the above two entities are regarded as being in same group. The Corporate Agent hasobtained second license within its group without disclosing the insurance related activities of the members of the group

Further, it is also observed that the entity at Sl.No.2 has obtained a corporate agency license which was valid upto 12.08.2006. The following three persons were partners in the said entity:-
a. Ms. Abira Majumdar
b. Mr.Amitava Sengupta
c. Mr.Subrata Majumdar

All the above listed three persons areshareholders in M/s Abira Insurance Services which was granted a license mentioned at Sl.3 of above table by the same insurer on 20.07.2006. In view of this the corporate agent has knowingly obtained second license within the group by circumventing the provisions of Clause 5 of the Guidelines.

ii) Charge 2:It is observed that the following specified persons of corporate agent were also holding similar position with another corporate agent namely, Golden Trust Financial Services Ltd.

Mr.Arup Ranjan Poddar, Mr.Chandan Jash, Mr.Siddartha Roy, Mr.Rakesh Kumar, Mr.Amit Karak, Ms.Susanta Pal, Mr.Partha Sarathi Saha, Mr.Rajarshi GuhaMallik, Mr.HarshnathJha andMr.SandipSarkar. This is in violation ofRegulation 9(2)(iv) of IRDA (Licensing of Corporate Agents) Regulations,2002, which specifically bars Specified Persons from holding similar position with another Corporate Agent.

Decision:The corporate agent has admitted that nine persons mentioned above were engaged as SP’s while they were acting as SP’s of GTFS. They denied the engagement of Mr. Partha Sarathi as their SP. 

In view of this,the corporate agent has violated provisions of Regulation 9(2)(iv)and Regulation 9(1) (a) of IRDA (Licensing of Corporate Agents) Regulations, 2002.

iii) Charge 3:Clause 3.3 of Corporate Agency agreement requires the Corporate Agent to keep insurer informed regarding the profile of CIE and Sales Executives at the time of hiring. It has been observed that Mr. Rizwan Ahmed who is the CIE of M/s ABIRA Insurance Services Ltd (of Kolkata) is also found as CIE of NOVA Financial Services (of Lucknow).This is in violation of Regulation 9(2)(iv) of IRDA (Licensing of Corporate Agents) Regulations, 2002 and Regulation 9(1) (a) of IRDA (Licensing of Corporate Agents) Regulations,2002.

Decision; The corporate agent submitted that they had no information about his association with NOVA Financial Services. As per the database available with the Authority it is evident that Mr.Rizwan Ahmed acted as CIE of M/s Nova Financial Services, corporate agent of TATA AIG Life vide license no.1623962.It is pertinent to mention here that in terms of Cl.7 of guidelines dated 14.07.2005 the CIE shall be the whole time employee of the corporate agent. In view of this the person referred above is construed to be whole time employee of Abira and GTFS Ltd during his common tenure as CIE of both the entities.

Therefore, it is clear that the corporate agent did not have control on the activities of CIE, which amounts to violation of Regulation 9(2)(iv)and Regulation 9(1) (a) of IRDA (Licensing of Corporate Agents) Regulations,2002.

iv) Charge 4:The corporate agent has not submitted the following documents to the inspection team despite repeated requests.
a. Copy of minutes of board meeting in which appointment of CIE is finalized.
b. Original set of annual records filed with ROC

Decision:Thecorporate agent has submitted that as there was no request from the inspection team, they had not furnished the same. Since there is no written record of such request by inspection team in the file,it is decided to drop this charge.

v) Charge 5:It is observed that the corporate agent is operating from 16, Ne S B Mansion, RN Mukherjee Road which is different from the present registered address i.e.p-12,CIT Rd.3rd Floor, Kolkata.

Decision: The corporate agent denied the charge and submitted that their registered address as p-12, CIT Road,3rd Floor,Kolkata-14.As per the inspection report, the team first visited the office located at 16, RN Mukherjee Road which is a multi-storied building housing different entities of Golden group. The team met Mr. Rizwan Ahmed CIE of corporate agent there. Further it is also mentioned in inspection report that the corporate agent had effected change of address to P-12, CIT Road. The team had visited this office and found that no administrative activity was carried out in that office. However the charges are not pressed since a specific violation has not been established.

3. Taking cognizance of the gravity of the charges at (1),(2) & (3) above and on a judicious exercise of the powers vested in the Authority under Section 14(1) of the IRDA Act, 1999 and section 42(5) of the Insurance Act, 1938, read with Regulation),11(b), 11(c),of IRDA (Licensing of corporate agents) Regulations, 2002, the license bearing No.2498927 granted to M/s Abira Insurance Services is cancelled with immediate effect. The corporate agent is hereby ordered along with insurer with whom it is attached to, to make necessary arrangements for servicing of insurance policies earlier serviced/being serviced by it, under intimation to the Authority.

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

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

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

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

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

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

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

Swiss Re sigma study on world insurance in 2013 says premium growth slowed largely due to weak life sales in advanced markets
Swiss Re sigma study on world...

      Premiums written in the global insurance industry grew by 1.4% in real terms to USD 4 641...

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

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

Research on Fraud in Health Insurance...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Direct Taxes Code 2013- KPMG INDIA

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

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

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

Claim is not payable if location is...

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

The Experience rating method.

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

The process of Individual risk rating...

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

How are the Rating Structure made in...

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

Purposes of rate making in general...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR INCREASING INSURANCE...

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

NEW MILESTONES IN THE INDIAN HEALTH...

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

Business centre heads of indian...

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

Indian Market Natural Catastrophe...

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

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

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

Commercial Insurance Coming of Age...

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

Theoritical Insurance

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

Does Marine policy cover storage Risk

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

ENDEAVOUR TO REGULATE DETARIFFED...

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

INSURANCE & REINSURANCE Of...

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

Micro Insurance- Progress Report in...

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

THE DEVIL IS IN THE "UNLIMITED...

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

TITANIC, TP INSURANCE AND TARIFF

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

AN OVERVIEW OF MARINE INSURANCE

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

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

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

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

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

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

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

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

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

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

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

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

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

Iran shipping insurance may be...

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

World's first insured Bitcoin vault...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Renewal methods that can be...

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

procedures that an underwriter must...

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

What are the skills that an...

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

Need of health insurance ?

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

What is health Insurance ?

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

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

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

Problems involved in Risk Financing...

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

Steps of formulating Risk Management...

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

Effective risk management, depends to...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Maples Publication,Belgharia, Kolkata...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Max Life eyes traditional plans
Max Life eyes traditional plans

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

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

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

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

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

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

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

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

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

Get your FREE e-Insurance Account now
Get your FREE e-Insurance Account now

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

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

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

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

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

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

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

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

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

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

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

Swiss Re sigma study on world insurance in 2013 says premium growth slowed largely due to weak life sales in advanced markets
Swiss Re sigma study on world...

      Premiums written in the global insurance industry grew by 1.4% in real terms to USD 4 641...

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

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

Research on Fraud in Health Insurance...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Direct Taxes Code 2013- KPMG INDIA

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

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

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

Claim is not payable if location is...

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

The Experience rating method.

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

The process of Individual risk rating...

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

How are the Rating Structure made in...

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

Purposes of rate making in general...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR INCREASING INSURANCE...

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

NEW MILESTONES IN THE INDIAN HEALTH...

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

Business centre heads of indian...

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

Indian Market Natural Catastrophe...

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

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

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

Commercial Insurance Coming of Age...

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

Theoritical Insurance

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

Does Marine policy cover storage Risk

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

ENDEAVOUR TO REGULATE DETARIFFED...

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

INSURANCE & REINSURANCE Of...

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

Micro Insurance- Progress Report in...

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

THE DEVIL IS IN THE "UNLIMITED...

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

TITANIC, TP INSURANCE AND TARIFF

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

AN OVERVIEW OF MARINE INSURANCE

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

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

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

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

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

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

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

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

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

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

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

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

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

Iran shipping insurance may be...

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

World's first insured Bitcoin vault...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Renewal methods that can be...

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

procedures that an underwriter must...

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

What are the skills that an...

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

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

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

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

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

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

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

Get your FREE e-Insurance Account now
Get your FREE e-Insurance Account now

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

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

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

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

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

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

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

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

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

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

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

Swiss Re sigma study on world insurance in 2013 says premium growth slowed largely due to weak life sales in advanced markets
Swiss Re sigma study on world...

      Premiums written in the global insurance industry grew by 1.4% in real terms to USD 4 641...

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

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

Research on Fraud in Health Insurance...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Direct Taxes Code 2013- KPMG INDIA

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

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

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

Claim is not payable if location is...

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

The Experience rating method.

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

The process of Individual risk rating...

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

How are the Rating Structure made in...

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

Purposes of rate making in general...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR INCREASING INSURANCE...

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

NEW MILESTONES IN THE INDIAN HEALTH...

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

Business centre heads of indian...

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

Indian Market Natural Catastrophe...

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

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

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

Commercial Insurance Coming of Age...

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

Theoritical Insurance

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

Does Marine policy cover storage Risk

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

ENDEAVOUR TO REGULATE DETARIFFED...

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

INSURANCE & REINSURANCE Of...

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

Micro Insurance- Progress Report in...

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

THE DEVIL IS IN THE "UNLIMITED...

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

TITANIC, TP INSURANCE AND TARIFF

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

AN OVERVIEW OF MARINE INSURANCE

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

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

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

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

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

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

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

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

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

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

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

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

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

Iran shipping insurance may be...

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

World's first insured Bitcoin vault...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Renewal methods that can be...

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

procedures that an underwriter must...

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

What are the skills that an...

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

Need of health insurance ?

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

What is health Insurance ?

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

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

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

Problems involved in Risk Financing...

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

Steps of formulating Risk Management...

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

Effective risk management, depends to...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Maples Publication,Belgharia, Kolkata...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Get your FREE e-Insurance Account now
Get your FREE e-Insurance Account now

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

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

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

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

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

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

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

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

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

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

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

Swiss Re sigma study on world insurance in 2013 says premium growth slowed largely due to weak life sales in advanced markets
Swiss Re sigma study on world...

      Premiums written in the global insurance industry grew by 1.4% in real terms to USD 4 641...

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

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

Research on Fraud in Health Insurance...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Direct Taxes Code 2013- KPMG INDIA

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

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

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

Claim is not payable if location is...

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

The Experience rating method.

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

The process of Individual risk rating...

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

How are the Rating Structure made in...

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

Purposes of rate making in general...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NEED FOR INCREASING INSURANCE...

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

NEW MILESTONES IN THE INDIAN HEALTH...

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

Business centre heads of indian...

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

Indian Market Natural Catastrophe...

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

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

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

Commercial Insurance Coming of Age...

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

Theoritical Insurance

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

Does Marine policy cover storage Risk

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

ENDEAVOUR TO REGULATE DETARIFFED...

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

INSURANCE & REINSURANCE Of...

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

Micro Insurance- Progress Report in...

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

THE DEVIL IS IN THE "UNLIMITED...

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

TITANIC, TP INSURANCE AND TARIFF

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

AN OVERVIEW OF MARINE INSURANCE

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

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

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

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

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

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

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

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

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

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

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

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

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

Iran shipping insurance may be...

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

World's first insured Bitcoin vault...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Renewal methods that can be...

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

procedures that an underwriter must...

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

What are the skills that an...

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

Need of health insurance ?

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

What is health Insurance ?

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

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

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

Problems involved in Risk Financing...

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

Steps of formulating Risk Management...

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

Effective risk management, depends to...

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

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

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

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

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

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

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

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

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

Get your FREE e-Insurance Account now
Get your FREE e-Insurance Account now

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

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

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

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

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

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

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

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

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

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

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

Swiss Re sigma study on world insurance in 2013 says premium growth slowed largely due to weak life sales in advanced markets
Swiss Re sigma study on world...

      Premiums written in the global insurance industry grew by 1.4% in real terms to USD 4 641...

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

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

Research on Fraud in Health Insurance...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Direct Taxes Code 2013- KPMG INDIA

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

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

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

Claim is not payable if location is...

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

The Experience rating method.

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

The process of Individual risk rating...

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

How are the Rating Structure made in...

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

Purposes of rate making in general...

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

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

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

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

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

Fraudulent practices on a spurt in life insurance
Fraudulent practices on a spurt in...

  life insurance companies across the country are witnessing a sharp rise in cases of fraud and...

Insurance sector worried over high attrition rate
Insurance sector worried over high...

      Frontline staffs in the insurance sector  are making a flight to the IT, ITes and retail...

Life insurers treat suicides as natural deaths for hassle free claims
Life insurers treat suicides as...

To avoid hassle in settlement of claims life insurance companies in India consider suicides as...

Medical errors on the rise in Arabian Kingdom
Medical errors on the rise in Arabian...

  The Arabian Kingdom is looking to develop a system of accountability for medical errors in the...

Bajaj Allianz starts special campaign for easy  renewal of  lapsed policies
Bajaj Allianz starts special campaign...

      In a bid to provide assistance to policyholders to get lapsed policies renewed easily Bajaj...

Reliance Life insurance launches super money back plan
Reliance Life insurance launches...

      Reliance Life Insurance, recently launched its new offering 'Reliance Super Money Back...

 IRDA releases pilot version of hospital IDs
IRDA releases pilot version of...

  In an effort to streamline hospital listings a  pilot version of a unique hospital ID master...

New money back plans launched by LIC
New money back plans launched by LIC

      LIC's New Money Back Plans has been  launched .The plans are for 20years and 25 years term...

Star Health & Allied Insurance Co launches Diabetes Safe, new health insurance product
Star Health & Allied Insurance Co...

From a modest beginning of Rs.12.51 crore retail business in 2006-07, Star Health has now...

Citibank and Apollo Munich to target over 16 million households with specialized health insurance services
Citibank and Apollo Munich to target...

citibank India and Apollo Munich announced they will provide specialized health care services to...

NEED FOR INCREASING INSURANCE...

      Life is full of uncertainties - unpredictable and unforeseen. While these uncertainties...

NEW MILESTONES IN THE INDIAN HEALTH...

              The  Right to Health is as important as the Right of Education. India's...

Business centre heads of indian...

      Introduction: Whenever a Customer approaches you - These ten commandants as stated below is...

Indian Market Natural Catastrophe...

      A) Introduction In Asia - Pacific zones we are all witnessing unprecedented frequency and...

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE MONTH OF FEBRUARY, 2014 IN INDIA
GROSS DIRECT PREMIUM UNDERWRITTEN FOR...

  INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY FLASH FIGURES -- NON LIFE INSURERS GROSS DIRECT...

Commercial Insurance Coming of Age...

      Introduction Property & Casualty (P&C) insurance industry was highly impacted by...

Theoritical Insurance

      The caption of this article needs some explanation - to keep the readers - especially those...

Does Marine policy cover storage Risk

      Introduction: The client often approaches the underwriters to grant storage cover at the...

ENDEAVOUR TO REGULATE DETARIFFED...

Introduction: All of us are aware of the fact that with the enactment of the Insurance Regulatory...

INSURANCE & REINSURANCE Of...

 Introduction Acts of God perils or Natural Catastrophe perils are 'Insurable' so far as they are...

Micro Insurance- Progress Report in...

      Introduction Marsh defines micro insurance as insurance that is designed specifically for...

THE DEVIL IS IN THE "UNLIMITED...

  Indian laws on accident claims are quite stringent. The laws were formulated by prioritizing...

TITANIC, TP INSURANCE AND TARIFF

      1. Abstract 1-1. Back to basics- Cover -Liability and Premium 1-1-1. Whether the basic...

AN OVERVIEW OF MARINE INSURANCE

  Introduction The origins of modern marine insurance are to be found in the practices adopted by...

Mediclaim insurance for scribes by Bihar govt
Mediclaim insurance for scribes by...

      The Bihar government has recently launched Bihar Rajya Patrakar Bima Yojana- 2014 to...

Edelweiss Tokio Life Insurance launches Edelweiss Tokio Life – Wealth Builder
Edelweiss Tokio Life Insurance...

      Edelweiss Tokio Life Insurance, the life insurance arm of Edelweiss Financial Services Ltd...

ICICI Lombard unveiled cashless OPD insurance scheme
ICICI Lombard unveiled cashless OPD...

In a bid to facilitate the authentic time and stress free outpatients, ICICI Lombard General...

Severe dengue symptoms see surge in health insurance claims
Severe dengue symptoms see surge in...

      As per provisional data available from National Vector Borne Disease Control Program...

 LIC awarded in the Silver Category
LIC awarded in the Silver Category

      Life Insurance Corporation of India was awarded in the Silver Category. The award was...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

Iran shipping insurance may be...

      A group covering vessel owners said that insurance for tankers to export Iranian crude may...

World's first insured Bitcoin vault...

The world's first Bitcoin storage service that insures deposits of the digital currency against...

IRDA slaps Rs 1 lakh fine on Tata AIA Life
IRDA slaps Rs 1 lakh fine on Tata AIA...

      Insurance Regulatory and Development Authority  has imposed on Tata AIA Life Insurance...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

Panel to update syllabus for insurance brokers by IRDA
Panel to update syllabus for...

      In an effort to cut down unauthorized and unqualified personnel's involvement in...

IRDA, RBI discuss concerns over insurance broking
IRDA, RBI discuss concerns over...

      In an effort to address the concerns of banks taking the broking route for selling...

UK insurance bill for storm and flood damage estimated  to cost £426 million
UK insurance bill for storm and flood...

      The insured bill for the damage caused by the storms and flooding over the Christmas 2013...

LIC increases stake in SBI by 15%
LIC increases stake in SBI by 15%

  A latest stock exchange disclosure has revealed that Life Insurance Corporation of India (LIC)...

12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
12 insurance cos imposed Rs 5 cr fine...

      Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was...

Irda issues revised guidelines on micro insurance products
Irda issues revised guidelines on...

      The Insurance Regulatory and Development Authority has issued revised guidelines on micro...

Future Generali India Insurance posts profit of Rs. 28.4 crore at the end of Quarter 3
Future Generali India Insurance posts...

      Future Generali India Insurance, a joint venture between Future Group - the leading...

IRDA asks SBI Life Insurance  to repay 275 crores to Policyholders
IRDA asks SBI Life Insurance to...

IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance...

RELIANCE LIFE INSURANCE LAUNCHES SMART CASH PLUS PLAN
RELIANCE LIFE INSURANCE LAUNCHES...

      Reliance Life Insurance Company, part of Reliance Capital Limited, announced the launch of...

Student Suraksha From Future Generali India General Insurance
Student Suraksha From Future Generali...

Future Student Suraksha is specially designed insurance cover for students travelling abroad for...

ENERGY HEALTH INSURANCE PLAN FROM APOLLO MUNICH HEALTH INSURANCE
ENERGY HEALTH INSURANCE PLAN FROM...

Energy, is a unique wellness management plan for individuals with Type 2 Diabetes Mellitus,...

Erection All Risk From Liberty Videocon General Insurance
Erection All Risk From Liberty...

      Features & Benefits Requirements:The foundation of a building may be laid with a single...

 SINGLE PREMIUM ENDOWMENT PLAN FROM Life Insurance Corporation of India
SINGLE PREMIUM ENDOWMENT PLAN FROM...

LIC's Single Premium Endowment Plan is a participating non-linked savings cum protection plan,...

Guaranteed Income Plus Insurance Plan From AEGON Religare Life Insurance
Guaranteed Income Plus Insurance Plan...

Why buy this Plan? In today’s life, very fewthings come with guarantees. Life can be uncertain...

Wealth Max plan From Birla Sun Life Insurance
Wealth Max plan From Birla Sun Life...

Have you often wondered about an investment vehicle, which provides financial protection for your...

Renewal methods that can be...

      There are a number of renewal methods that can be incorporated in policy conditions such as...

procedures that an underwriter must...

There are some risks which are claim-prone owing to the physical Hazard. They are generally...

What are the skills that an...

An Underwriter should possess the following skills: a.He should be able to visualize the property...

Need of health insurance ?

In a country like India, where maximum medical expenses are borne by individuals themselves ,...

What is health Insurance ?

      Health Insurance is a way to distribute the financial risk associated with the variation of...

LIC tops the tax defaulter's list
LIC tops the tax defaulter's list

      The list of top tax defaulters provided by the Income Tax department features Life...

Problems involved in Risk Financing...

      Sometimes, some organizations desire to retain risks internally to cope up with large and...

Steps of formulating Risk Management...

Regardless of the type of companies and the type of management, it is highly desirable that there...

Effective risk management, depends to...

      Effective risk management truly depends to a large extent on the use of probability...

 Top small cars are prone to life threatening road accidents
Top small cars are prone to life...

Small cars from some of the leading brands sold in India has failed miserably in crash cases...

Free insurance cover to Amarnath pilgrims
Free insurance cover to Amarnath...

All pilgrims that hold valid permits for this year's Amarnath Yatra will be provided a free...

Bihar govt plans  insurance scheme for panchayat representatives
Bihar govt plans insurance scheme...

Panchayati Raj and Rural Works Department Minister of Bihar, Bhim Singh stated recently that the...

Frequently Asked Questions about Insurance Repository
Frequently Asked Questions about...

  1. What is Insurance Repository? “Insurance Repository” means a company formed and registered...

Swiss Re earns profit of USD 4.4 billion for 2013
Swiss Re earns profit of USD 4.4...

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by...

Future Generali India Life Insurance receives ISO 9001:2008 certification
Future Generali India Life Insurance...

Future Generali India Life Insurance Company Limited, a joint venture between Future Group - the...

How insurers in Asia can help consumers meet their increasing needs for medical insurance products and services
How insurers in Asia can help...

All markets surveyed in this study (China, Hong Kong, India, Indonesia, Malaysia and Thailand)...

Future Generali India Insurance first to launch Rashtriya Swastha Bima Yojana programme in Karnataka
Future Generali India Insurance first...

Future Generali India Insurance, a joint venture between Future Group - the leading retailer of...

IRDA: Implementation of Standard Proposal form for Life Insurance
IRDA: Implementation of Standard...

After examining various representations received from Life Insurance Industry, the competent...

Guidelines for Individual Agents for Persistency of Life Insurance Policies
Guidelines for Individual Agents for...

IRDA has issued some modifications for persistency of Life Insruance Policies. In modification of...

Maples Publication,Belgharia, Kolkata...

  Please beware of duplicate books/study materials from Maples Publication, kolkata which is a...

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