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Private insurer IndiaFirst Life Insurance opened a financial planning centre (FPC) in Jaipur aimed at offering the entire range of services, including new business application processing. Read more
Max  Life Insurance Company been ordered by a consumer forum here to pay Rs 20,000 as compensation to the grandfather of a policy holder for issuing a policy with terms and conditions different from what was told to him. Read more
Future Generali India Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy, has re-launched Future Health Suraksha; a Health Insurance Plan with host of new features beneficial to the customers. Read more
United India Insurance Company Ltd will recruit 7,000 agents in the next three months. “Our agent force is 53,000 now. We will have 60,000 agents before the end of current financial year,†Chairman and Managing Director Milind Karat told newspersons here. Read more
Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, announced the launch of Career Agency, a new distribution channel aimed at enhancing the company’s reach and footprints across the country. The new sales format offers a fixed stipend structure to prospective advisors, looking at insurance as a long-term professional career, during the training period.
This is a first-of-its-kind distribution channel based on stipend and variable commission pay-out structure by any private insurer in the domestic insurance Industry. Read more
The requirement of insurable interest gives legal validity to insurance contracts and distinguishes them from wagers. It may be defined as the legal right to insure, where the right arises out of a pecuniary relationship between the insured and the subject matter of insurance. The destruction or damage to the latter involves the insured in financial loss. Absolute legal ownership is a clear example of insurable interest. Read more
The government and investors set the agenda for the executive in normal times. But the year 2012 will go down in Indian financial history as the executive setting it for the government and convincing investors that it is right and not them. It was an extraordinary year for the Indian economy with investments plunging, profitability falling, and the much-cherished growth rate falling to a near decade low. Read more
The Finance Ministry’s eagerness to see banks shed their non-core business is not surprising. With Basel III norms kicking in from January 1, 2013, banks will need to not merely conserve their capital base, but beef it up to meet the additional requirements laid down under Basel III. That’s a tough call even for private sector banks. Read more
The coming year 2013 will have a lot of hopes pinned on for a greater financial standing, in terms of various industries who havent really done well in the last financial year. One of them is the insurance sector, as the FDI bill for 49% investment by foreign companies is set to go on the floor of the house, and put to vote by the members of the house. Other than this, the government is also looking to extend tax breaks especially for the first premium paid by consumers, which shall be bought in to ensure a healthier insurance industry. Read more
The Complainant, Radheshyam Singh informed that his truck was torched by the insurgents when it was being used for transporting bamboos from Bijapur.
After fleeing from the scene, the driver and the labourers lodged an FIR at the Bijapur police station. Read more