Non Life-News

Insurance cos to focus on IPOs, consolidation in 2018

Indian News       Dec 30, 2017

NEW DELHI: More insurance companies are expected to hit the capital markets next year after successful IPOs of five insurers, including two state-owned companies, which collectively raked in about Rs 45,000 crore.    Besides the spate of IPOs, 2018 will also witness some consolidation in the...

EV drive: SIAM for 5% GST, IT deduction for individual buyers

Indian News       Dec 25, 2017

New Delhi: In order to promote electric vehicles (EVs) in India, auto industry body SIAM has suggested reduction of GST on such automobiles to 5 per cent, besides one-time income tax deduction of 30 per cent of vehicle price for non-financed buyers.   In a white...

Indian carriers to induct over 900 planes in coming years

Indian News       Dec 25, 2017

New Delhi: Indian airlines are likely to induct more than 900 aircraft in the coming years, with IndiGo alone expected to add 448 planes, according to official data.India is one of the fastest growing aviation markets in the world and most airlines have ambitious expansion...

Panel wants body cams on traffic cops, RTO officials

Indian News       Dec 23, 2017

New Delhi: Prescribing body wearable cameras for traffic policemen and RTO officials enforcing the Motor Vehicles Act, a parliamentary panel has said it will check corruption and reduce arbitrariness by enforcement agencies.    A 24-member Select Committee of the Rajya Sabha, after examining the Motor Vehicles...

Expect motor bill to be cleared in ongoing session: Nitin Gadkari

Indian News       Dec 22, 2017

NEW DELHI: The government expects Motor Vehicle (Amendment) Bill to be cleared in the Rajya Sabha during the ongoing session of Parliament, Union minister Nitin Gadkari said today.   We are expecting in this Parliament session it will be cleared in Rajya Sabha," Gadkari said when...

Non-life insurers' gross premium up 9% at Rs 10,012 cr in Nov

Indian News       Dec 17, 2017

Mumbai: Non-life insurance companies' gross premium increased by 9 per cent to Rs 10,012.41 crore in November, according to data from Irdai. They had collected gross premium of Rs 9,179.84 crore during the same month of 2016-17. There are a total of 30 non-life insurance...

HDFC ERGO launches Solar energy shortfall cover

Indian News       Dec 06, 2017

Mumbai: HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, has launched  the country’s first  ever Solar Energy Shortfall Insurance Policy.    This new policy is designed to account for non-traditional and non-physical damage related risks that solar projects regularly...

Insurance company to pay even if accident not in India: High Court

Indian News       Dec 03, 2017

Chandigarh: Punjab and Haryana high court has ruled that if a vehicle registered and insured in India meets with an accident in another country, the insurance company would be liable to pay the claim.  The order pertained to compensation to the kin of 54 pilgrims...