57% of COVID-19 claim remains unsettled
The data compiled by the General Insurance Council shows that general insurers are yet to settle and payout 57 percent Read more
General Insurance Council
Underwriting losses of Insurance Industry rise to Rs 22,859 crore
The total underwriting losses of the insurance industry have surged by 4.4 per cent to Rs 22,859 crore in Read more
No deadline extension for motor insurance policies
The Centre may have advised state governments to extend the validity of all vehicle-related documents up to December 31, Read more
Insurers see over 90,000 Corona claims worth Rs. 1,463 cr
Insurers have seen more than 90,600 Covid-related claims worth Rs 1,463 crore, of which almost 60,000 claims amounting to Rs Read more
Advisory to policyholders and insurers related to Covid 19
The Authority welcomes the stand of the Indian General Insurance industry regarding continuity of policies in the context of the Read more
GI Council targets 2.5% non-life insurance penetration by 2030
The General Insurance (GI) Council is eying a 2.5% non-life insurance penetration by 2030 along with a target of premium Read more
Insurers demand more time for complying SC order on motor insurance
General insurers have sought more time from the Supreme Court to implement its directives on making long-term third-party insurance mandatory Read more
Insurers can offer cover to Indian refineries for Iran crude import: IRDA
Insurance Regulatory and Development Authority (IRDA) has enabled Indian insurers and reinsurers to help cover Iran crude oil import by Indian refineries.
IRDA chairman J Hari Narayan said that therefore, Indian refineries can ship oil from Iran with appropriate insurance cover. Read more
Anti-Money Laundering /Counter Financing of Terrorism (AML/CFT)-Guidelines for General Insurers from IRDA
The Guidelines on Anti-Money laundering /Counter Financing of Terrorism (AML/CFT) were issued under Section 34 of the Insurance Act, 1938 on 31st March 2006. The Guidelines were made applicable to general insurance companies in the modified form effective from 1st January 2007. Read more
GIC Re denies refusing cover to Indian refineries
India’s sole reinsurer General Insurance Corporation of India (GIC), clarified that it has not refused cover to any Indian refinery dealing with Iranian crude and is only engaging in discussions to bring in clarity. Read more
