Non Life-News

Motor Third Party:SC asks IRDA to offer 3 yr cvr for cars

Indian News       Apr 02, 2018

  New Delhi: In a bid to tighten the compliance of  mandatory third party insurance of vehicles, which puts all road users at risk, the Supreme Court Committee on Road Safety has asked the insurance regulator IRDAI to offer mandatory third party three year insurance policy...

MN Sarma, CMD, United India Insurance

General Insurance industry likely to hit Rs1.5 trn prm kitty in 2017-18

Indian News       Apr 01, 2018

  Mumbai: In a cheerful development, the Indian general insurance industry, with 33 players, is likely to strike a spectacular figure of Rs 1.5 trillion in premium income during 2017-18.   By Feb 2018, with a growth of 18 per cent, the premium accumulation in the industry...

G Srinivasan, CMD, New India Assurance

New India Assurance achieves Rs 26,000 cr of global prms, up 17 pc in 2017-18

Indian News       Mar 31, 2018

  Mumbai: New India Assurance (NIA), the largest general insurer in the country, has achieved a total global premium of Rs 26,000 crore, up 17 per cent during fy 2017-18.   The general insurance multinational, having operations in 28 countries, had set a target of Rs 26,000...

Frauds cost Rs 18,170 crore to banking sector in FY17: Report

Data       Mar 30, 2018

  MUMBAI: The domestic banking sector reported a total of 12,553 fraud cases worth Rs 18,170 crore in fiscal 2016-17, with state-run Bank of Maharashtra registering the highest number of such cases, says a report.    While Bank of Maharashtra reported 3,893 cases of fraud, private sector...

Modi's flagship crop insurance scheme loses  momentum as coverage area reduces

Indian News       Mar 25, 2018

  NEW DELHI: The Pradhan Mantri Fasal Bima Yojana(PMFSY), the Narendra Modi government's flagship crop insurance scheme- launched with much fanfare two years ago, has witnessed negative growth this year as the coverage has reduced to 24 per cent of gross cropped area (GCA) in 2017-18...

Uber’s Self-Driving Cars Insured by Old Republic

International News       Mar 24, 2018

Old  Republic International Corp., the Chicago-based insurer, provides commercial liability coverage of as much as $5 million for each of Uber Technologies Inc.’s self-driving vehicles.   The policy covers bodily injury, death and property damage, an Uber spokeswoman said on Wednesday.     The death of a pedestrian...

FIR by CBI against officials of United India, Deccan Chronicle Holdings, CARE and IDFC, alleges collusion to defraud UII Rs 30 cr

Indian News       Mar 23, 2018

   NEW DELHI:  The Central Bureau of Investigation(CBI) on Thursday filed an FIR against officials of Chennai based United India Insurance Company(UIIC), Deccan Chronicle Holdings Ltd(DCHL), its Chairman T Venkatram Reddy,  CARE rating and IDFC for allegedly defrauding the United India Insurance(UIIC)of Rs 30.54 crore.   CBI...

Merger of 3 PSU insurers to improve their solvency: FinMin

Indian News       Mar 22, 2018

New Delhi: Proposed merger of three state-owned general insurers - National Insurance, United India Insurance and Oriental India Insurance - will help in effective use of infrastructure and improve solvency margins, Finance Ministry said in Rajya Sabha.   The three companies together had a market share...

Largest union of PSU general insurance industry demands merger of all four cos

Indian News       Mar 22, 2018

  Mumbai: The largest union of the employees of public sector general insurance industry, GIEAIA, has demanded the merger of all the four state owned general insurance companies-New India Assurance, National Insurance Company(NIC), United India Insurance(UII) and Oriental Insurance Company(OIC) rather than three, NIC,UII and OIC.  ...

Self-driving Uber kills US woman in first fatal crash involving pedestrian

International News       Mar 19, 2018

TEMPE, Ariz./SAN FRANCISCO: An Uber self-driving car hit and killed a woman crossing the street in Arizona, police said on Monday, marking the first fatality involving an autonomous vehicle and a potential blow to the technology expected to transform transportation.   The ride services company said...