Anamika Roy appointed as MD &CEO of IFFCO Tokio General Insurance Company
Ms. Anamika Roy Rashtrawar has been appointed as the MD and CEO of IFFCO Tokio General Insurance Company. Ms. Roy Read more
National Insurance
Chhattisgarh to adopt national insurance cover for seven crops
Chhattisgarh government had decided to implement the National Agriculture Insurance Policy and cover seven crops for the current Kharif Read more
Health cover charges to rise by 30%, insurance companies claim
The four public sector non-life companies, which have a 70% share of individual health policies, have received approval from the regulator to raise rates for individual mediclaim policies. Prices are set to rise by 20-30%, depending on the age group of the insured.
Third party motor insurance cover costs set to soar
Come April and your third party (TP) motor insurance will pinch your pocket more. The Insurance Regulatory and Development Authority (IRDA) has proposed a 38.87% weighted jump in TP motor insurance for private cars across all sub classes in the exposure draft for revision of premium. Read more
State insurers latch on to investment income
There’s something about investment return as far as state general insurers are concerned. With gains round the corner, this looks to be their best possible bet to make up for their underwriting losses. And less discounting of premiums and offloading high-risk portfolios mean there’s a double sweetener on the hands. Read more
PSU general insurers mull expansion abroad
To tap the Indian diaspora, public sector general insurers are considering expanding their operations to other countries in the next financial year. Given the large number of Indians and Indian businesses in South-east Asia, West Asia and Africa, these regions are emerging as preferred destinations. Read more
Get ready to shell out more for motor, health & fire insurance
You may soon have to shell out more to buy motor, health or fire insurance. Concerned over the high level of losses in general insurance and pressured by a government direction to move further towards market-linked pricing, insurers are planning to raise premiums by an initial 2-5% and further up gradually, sources said. Some of the hike will be inflation-linked, but a major portion will be due to the new pricing strategies adopted by insurers after assessing risks. Read more
RGJAY: National Insurance denies TPA incentive data requested under RTI
The Maharashtra government has launched Rajiv Gandhi Jeevandayee Arogya Yojana (RGJAY) in order to improve medical access facility for both Below Poverty Line (BPL – Yellow card holders) and Above Poverty Line (APL- Orange card holders) families). RGJAY is already being implemented in eight districts including Mumbai and would be implemented throughout the state in phased manner in a period of three years. Read more
Insurance Company official sentenced to jail for Insurance Fraud
A sacked divisional manager of a state insurance firm and three others have been sentenced to varying jail terms for clearing bogus insurance claim and duping the firm of Rs 1,61,500. Read more
A road mishap victim’s kin get Rs 7.14 lakh compensation from National Insurance
The kin of a woman, who died in a road accident during a pilgrimage, have been given damages of over Rs seven lakh by a Motor Accident Claims Tribunal which said the selfless love of a spouse and a mother cannot be compensated. Read more
