Indian News

General Insurance industry may close FY 2018-19 with a premium of Rs 1. 7 trillion

Non-Life       Mar 18, 2019

  Mumbai: Despite over all deceleration in the Indian economy including a visible drop in the auto sales, the domestic general insurance industry with 34 players may end the current fiscal year 2018-19  with a higher premium. .   The industry had logged a gross premium of...

S C Khuntia, chairman, IRDAI

Govt sets up a high level panel under IRDAI chairman to overhaul Indian insurance sector

Policy, Regulation       Mar 17, 2019

  New Delhi:  In a bid to overhaul the Indian insurance sector, almost after 20 years of liberalisation of the industry,  the centre has appointed a high level panel under the chairmanship of S C Khuntia, chairman,IRDAI, just before the Modi government is ending its five-year ...

In India, most complaints by flyers are about harassment by airline staff

Eco/Invest/Demography, Risk Management       Mar 17, 2019

  New Delhi: Most complaints filed by air passengers in the Civil Aviation Ministry's grievance redressal system relates to behaviour of airline staff and harassment of flyers, according to an official document. .  'Loss of baggage' category in Centralized Public Grievance Redress and Monitoring system (CPGRAM)...

Govt to soon start selection process for new PFRDA chairman

Pension, Policy, Regulation       Mar 17, 2019

   New Delhi: The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April.   "The Finance Ministry will soon come out with an advertisement to...

Ex-SC Judge Justice PC Ghose set to be first Lokpal

Eco/Invest/Demography, Policy       Mar 17, 2019

  New DelhI Former Supreme Court judge Justice Pinaki Chandra Ghose was on Sunday recommended to be the first Lokpal or anti-corruption ombudsman of India.   His name was finalised and recommended by the Selection Committee comprising of Prime Minister Narendra Modi, Chief Justice Ranjan Gogoi, Lok...

Senior Congress leader Jairam Ramesh

Ayushman Bharat, actually a 'lifesaver' for private insurance firms, says Jairam Ramesh

Health       Mar 16, 2019

  New Delhi The Congress launched a scathing attack on Prime Minister Narendra Modi on March 16, alleging that his government's flagship health insurance scheme Ayushman Bharat is not for common man but actually a "lifesaver" for private insurance companies and hospitals.   Asserting that the government's...

Rs 210 crore of Army insurance funds sunk in IL&FS bonds

Non-Life, Risk Management       Mar 15, 2019

  New Delhi: One of the key prongs for the welfare of ex-servicemen -- the Army Group Insurance Fund (AGIF) -- has exposure to toxic IL&FS bonds amounting close to Rs 210 crore. This means that crores worth of insurance premiums, covering all ranks from generals...

HDFC Ergo provides Title Insurance for Mumbai's real estate project  

Non-Life, Regulation       Mar 15, 2019

  Mumbai: HDFC ERGO, country’s third largest non-life insurance provider in the private sector, today announced the adoption of their Title Insurance policy by Shraddha Landmark Private Ltd (SLPL), for their upcoming project in Bhandup (West) near Neptune Mall, off the LBS Road in Mumbai..   Title...

MR Kumar takes charge as LIC chairman

Life       Mar 13, 2019

  Mumbai: M.R.Kumar has taken charge as chairman of Life Insurance Corporation today.The post had fallen vacant after VK Sharma retired in Dec end.   Kumar was In-charge of North Zone comprising of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan States and Union Territory of...