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In a move likely to give a fillip to the markets recently, as well as help meet the demands of the finance ministry to bolster the participation of insurance companies in PSU disinvestments, the Insurance Regulatory and Development Authority (IRDA) recently allowed insurance companies to increase their equity holding in companies by up to 15%, from 10% earlier. Read more
The average premium per policy of a life insurance policy has decreased by nearly 8% in FY12 over last year, according to a study carried out by Deloitte India. The study, called Life Insurance Channel Management Benchmarking Study 2012, included nine Indian private life insurers as participants. Read more
The test of good conduct of business by insurers is whether policyholders are treated fairly both before the contract is entered into and throughout the lifecycle of the insurance policy, until all obligations under the contract have been satisfied. From the regulatory perspective, the pre-requisite is a proper framework including relevant laws, rules, regulations, guidelines etc., within which the insurers and intermediaries operate.
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They say that the child is the father of man. But the father has to take care of some aspects in a child’s life to secure him from any mishaps. There are so many dreams we weave for our children — some are irrational as well. For the rational ones — good education, a grand wedding and protection from any harm that might befall them — there are insurance policies that take care of the needs. Read more
The Insurance Regulatory and Development Authority ( IRDA ) would release the final guidelines on investment limits for insurance companies in the next couple of days, sources said. The guidelines would cap the debt portion of the investment by insurance companies at 55 per cent, against the current 85 per cent. Read more
Welcome relief for life insurers and policyholders. There was a time when only the Life Insurance Council, the industry body representing life insurers, was the sole agency dealing with regulatory knots and consumer issues. In a week’s time, the Insurance Regulatory and Development Authority (IRDA) will set up product-specific committees which will complement the Life Insurance Council. Read more
The world of ULIP is the most fascinating one for those who have a stronger risk appetite. It provides a means for individuals to participate directly in the prosperity of the country’s economy. Spreading the investment risk and tax advantage of insurance investments are the added advantages the ULIP investors enjoy. Before going into the details it is important to understand few of the basic concepts of ULIPs. Read more