Tax waiver sought for home, personal accident insurance products
The general insurance industry has sought several tax exemptions, including for home and personal accident covers, from the Finance Ministry in the upcoming Budget. Read more
NEW INDIA ASSURANCE
Decks being cleared for cashless medical insurance at nursing homes
The Association of Medical Consultants (AMC) has organised themselves into a cohesive group so that those with medical insurance can get cashless service at nursing homes run by them in Mumbai. 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
New India Assurance mulls householder products
New India Assurance, the country’s largest non-life insurer, is planning to come out with householder insurance products in anticipation that the government might come out with some kind of tax breaks. Read more
New India Assurance turns around, reports net profit of Rs 517 cr
New India Assurance, the largest general insurance company in India, has reported a net profit of Rs 517 crore in the third quarter ended December 2012 on rising premium income and improved operational efficiency. It had posted a loss of Rs 177 crore in the corresponding period of previous fiscal. Read more
Third party motor insurance premium may rise further
Lakhs of vehicle owners across the country may have to pay more for buying the mandatory insurance cover — third party motor cover — for their vehicles. Read more
Health will be the fastest growing insurance business: Tapan Singhel
When Tapan Singhel first interviewed for a job with Bajaj Allianz General Insurance Co (BAGIC) back in 2001, it didn’t go too well. He was tentative about giving up his government job at New India Assurance and was roundly ticked off by his potential boss for his diffidence. Read more
Car, truck insurance premiums set to go up
Your car/truck insurance bills are set to go up. This could happen as insurance companies may hike premiums by as much as 40 per cent for commercial vehicles and 10 per cent for two-wheelers and personal cars to compensate for high claims in the motor insurance business. Read more
Axis Bank to raise Rs 6,000 crore from qualified institutional players recently
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
No insurance cover for organ donors
Srinidhi (name changed), a housewife, donated a part of her liver to her husband a few years ago. Even though she has no complications and is perfectly healthy, she was surprised to find that insurance companies rejected her application for comprehensive health cover. Read more