RR Singh, CMD, Oriental Insurance Company, admitted that the...
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SBI General Insurance issues its first surety bond as bid security for NHAI
NHAI has been working closely with Highway Operators Association of...
Soon certain category of 4-wheelers will have inbuilt collision warning signal: Morth
The road ministry proposal assumes significance as the number of...
Merger of 3 PSU general insurers to be completed by FY’20
Their combined net worth is Rs 9,243 crore with total employee strength of around 44,000 spread over 6,000 offices Initial estimates suggest that the combined entity formed after the merger will be the largest non-life insurance company in India, valued at Rs 1.2-1.5 lakh crore.
Goyal’s new pension scheme pose risk for the Atal Pension Yojana
“The new pension scheme has the government as a 50 per cent co-contributor which is not there in the APY. So, people will prefer the new pension scheme to APY. Moreover, PFRDA had requested the government to increase the age limit under APY to 50 years from 40 years, which didn’t happen. So, we will have to revise the APY target,’’ said Contractor.
National Insurance to manage Ayushman Bhart scheme for Maharashtra in 2019
“ We have worked relentlessly on prevention of frauds during last few months therby bringing down the cost and premium for the scheme. NIC has agreed to run scheme with premium of Rs 640 per family per year . Due to this there will be prospective saving of Rs 111 crore annually for the state government,’’ said Shide.
Insurance firms expect Interim Budget proposals to boost penetration
For the insurance industry, the schemes aimed at boosting farmers’ income and reducing tax outgoes for the middle-class will encourage consumption, while the plan to develop 1 lakh digital villages will boost digital infrastructure
Budget 2019: India to lead the world in transportation through EVs, says FM
Electric vehicle sales in India are expected to be 30 per cent of total sales by 2030. According to Niti Aayog estimates, EV sales are expected to touch around 25.36 million units in India in 2030.
PNB plans to dilute minor stake in life insurance JV
“In the DRHP (draft red herring prospectus), they (PNB) have chosen only to dilute a small percentage, they want to hold the substantial holding at more than 26 percent. So, therefore that signals you their intention,” said the company’s managing director and chief executive Ashish Srivastava
Nearly 50% cancer patients are uninsured, study
A majority of oncologists believe that cancer incidences are likely to increase by almost 25 per cent over the next five years. Breast Cancer is likely to account for a greater proportion of these incidences followed by Lung, Oral, and Cervical Cancers.
No commission can be paid to intermediaries on insurers’ direct biz:IRDAI
“It has come to the notice of the Authority that insurers are paying remuneration to insurance intermediaries for new and renewal insurance business received by them directly. We advise the insurers not to book new/renew the business directly received from customer/insured in the name of the insurance intermediaries and shall refrain from remunerating them for such direct new/renewal business,’’ said , Sujay Banarji, member, Distribution, IRDAI .
IRDAI expresses concern over insurers paying illegal commissions to dealers to grab motor biz
“Whenever it is coming to our notice, we are taking action. We have also done some focused inspection of some of the service providers, we are watching the market very carefully for some violations,” he said. adding that some insurers are incentivising car dealers in violation of motor insurance service providers(MISP) guidelines.
Interim Budget 2019: Modi may counter Rahul with universal basic income
An estimated support of Rs 6,540 crore-Rs 7,620 crore is on the anvil if the government goes ahead with UBI. The UPA had rolled out UBI as a pilot project across 8 villages in Madhya Pradesh as far back as 2011-12. The big question remains how many districts will form a part of this new pilot project once it is announced in the budget