MICRO INSURANCE
A SNAP SHOT ON MICRO INSURANCE IN INDIA
Micro Insurance – Will initiatives & technology boost-up the vulnerable segment?
Micro-insurance trips on claims
Finance minister P Chidambaram’s Budget proposal to allow business correspondents to sell micro-insurance products in rural India is well-intentioned, as it would get more uninsured people on board. Read more
Final Order in the matter of Life Insurance Corporation of India
In Chair: Sri J Hari Narayan, Chairman, IRDA
The Authority has received a complaint on 16th April, 2012 alleging the fictitious individual Micro Insurance Business procured by various Divisional Offices under the Central Zone (Bhopal) of Life Insurance Corporation of India (hereafter referred as the Life insurer). The Authority has carried out a focused onsite inspection of the Micro Insurance Unit, Bhopal Divisional Office of the Life Insurer during 25th April, 2012 to 27th April, 2012 which interalia revealed certain violations to various provisions of the Insurance Act, 1938, the Regulations notified there under and the Guidelines/Circulars issued by the Authority from time to time. Read more
More entities may be allowed to sell micro-insurance
The insurance regulator plans to finalise the proposal to allow district central co-operative banks, regional rural banks, primary agricultural co-operative societies and individuals to peddle micro-insurance in rural and semi-urban areas. Read more
Micro insurance norms to be out soon
Micro insurance regulations for the insurance sector is set to be finalised soon. The regulations prescribe a framework within which insurers can offer affordable micro insurance products to a targeted group of rural and urban insurable population. Read more
L&T Insurance to launch SME, home policies soon
Private sector general insurer L&T Insurance said it plans to launch 10 products in the small and medium enterprises (SME) and home space soon. Read more
Future Generali India Insurance ties-up with Zoom Dev for micro-insurance in HP
Private insurer Future Generali India Insurance recently said it has tied up with Zoom Developers, an SCA (Service Centre Agency), to distribute its micro-insurance products in Himachal Pradesh. Read more
Liberalisation of Insurance Sector : New Dimensions
The world has become a global village. The Liberalisation, Privatization and Globalisation (LPG) wave has sweeped across the global economies. The two pillars of India’s economic policy before 1991 have been protection and public sector. Read more