Budget 2013: Need to make insurance more affordable for common man, says Ajay Bimbhet, Royal Sundaram Alliance Insurance Company

Non-life insurance segment has a very high potential to grow. However, in the absence of incentives, individual prefer saving instruments. Therefore, there needs to be a concerted effort to make insurance all the more affordable and attractive for the common man, says Ajay Bimbhet, Managing Director, Royal Sundaram Alliance Insurance Company Ltd, in his pre-Budget expectations. Read more

Insurers refuse to cover 15% in Chennai Petroleum Corp on Iran concerns

State-run Chennai Petroleum Corp Ltd has to pay the price for having two directors from Iran on its board as Western re-insurers have refused to cover 15% of its assets, equivalent to the extent of Iranian equity in the company, because of US and European sanctions against Teheran for its nuclear programme. Read more

Budget 2013-14: Widen coverage area; give tax sops: Health insurance biz

Indian economy measured in terms of Gross Domestic Product (GDP) registered a growth rate of 6.5 per cent in 2011-12, which is the lowest annual growth rate of last decade. Further, this growth rate is expected to be 5.6 percent by the year end where as cost inflation index is moving up in double digit. Read more