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Doctrine of subrogation is one of the most important ingredient and essential features of the principles of Indemnity, which, distinguish an ordinary commercial contract from an insurance contract. This is one of the additional features of contract of indemnity not found in other contracts. Read more
The government appears to be gearing up for second-generation reforms in the insurance sector.
When he resumed charge of the finance ministry, P Chidamabaram held a slew of meetings with the insurance regulator and captains of the industry in October 2012. Read more
The UT Administration recently informed the Punjab and Haryana High Court that it has exempted the Chandigarh Transport Undertaking (CTU) buses from insurance cover till February 28. Read more
Life Insurance Corporation (LIC) of India, country’s largest insurance service provider, is not concerned about increased foreign direct investment (FDI) in insurance sector. LIC chairman D K Mehrotra said recently that the company is market leader in insurance sector and the FDI won’t affect them. Read more
The Scheme came into force from 1.10.1982. The procedure for getting solatium money is as follow: Read more
Axis Bank is all set to raise around Rs 6,000 crore through private placement of its equity shares to qualified institutional players (QIPs). Read more
Tata AIA Life Insurance (Tata AIA Life) launched an online term insurance plan ‘iRaksha Supreme’ with coverage up to 80 years especially catering to needs of working women. Read more
The coming fiscal will be an event-filled one for LIC Nomura Mutual Fund, which has on its priority list new offshore index-linked exchange-traded funds (ETFs), tapping the existing customer base to the hilt and introducing unique timely schemes. The CEO, Nilesh Sathe, in an interview, weighs in on future prospects, the strong areas and the issues to tackle. Read more
The Ulhasnagar crime branch has arrested two people for running a fake vehicle insurance racket and cheating people who did not have the time to stand in queue to get their automobile insurance. Read more
Deriding state government move to cover Panches and Sarpanches under an insurance plan, Panchayat members recently termed the initiative as an attempt to bail out the present dispensation from its failure to empower the Panchayat Raj Institutions (PRIs) in the state. Read more