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Early detection, effective treatment helped in bringing down Nipah mortality rate to 33 pc: Kerala Health Minister
The virus strain seen in Kerala was the Bangladesh variant, which...
RBI extends deadline for deposit,exchange of Rs 2000 banknotes till Oct 7
The central bank said that from October 8, Rs 2000 banknotes can...
SBI Life’s PAT at Rs 310 cr, rises by 13 % in Q1FY 2019
The Value of New Business (VoNB) of the life insurer stood at Rs 2.2 billion for Q1 FY2019 and the company’s VoNB margin, a measure of the expected profitability of new business,increased by 80 bps from 16.2 per cent for FY2018 to 17.0 per cent for Q1 FY2019
Mathur panel to check `exclusions’ in health insurance policies
The committee, headed by S Mathur, executive director, IRDAI, will deliberate issues like, exclusions that are prevalent in the health insurance policies. rationalise the exclusions by minimising the number, so as to enhance the scope of health insurance coverage granted. rationalise the exclusions that disallow coverage with respect to new modalities of treatments and technologically advanced medical treatments.
India Inc becoming more vulnerable to sudden policy changes: Assocham
“Increase in truck axle load by the Centre and the Maharashtra Government directive on food and beverages in the cinema halls are the latest examples of the policy changes coming as a bolt from the blue for the corporates.
Insurance Industry must play a key role in India’s growth story:Vice Prez
“The requirement of the youthful population mandates that we have sufficient reforms in the product, design, delivery and services so as to keep at pace with the future.. Simplicity in policy design, suitability in pricing and swiftness in claim payments need to be the guiding mantras for the future,’’ Rajiv Kumar, Secretary, Department of Financial Service, Ministry of Finance said.
SC makes 3 yr TP policy mandatory for 4-wheelers, 5 yrs for 2-wheelers
In view of unsatisfactory third-party insurance offered to vehicles, the Supreme Court Committee on Road Safety has asked the Insurance Regulatory and Development Authority of India (IRDAI) to offer a mandatory three-year policy for cars and a five-year policy for motorbikes at the time of sale and registration.
General Insurers to pay Rs16,000 cr as claims under PMFBY in 2017-18
Low awareness continues to be the area of concern. Government is likely to increase the budget of the PMFBY to Rs 13,000 crore from Rs 10,000 in 2017-18, Alice Vaidyan, CMD, GIC Re
Govt introduces bill to check unregulated deposits, prescribes 10-year jail for perpetrators of ponzi schemes
It prescribes monetary penalty and jail term which could be extended up to 10 years for duping gullible depositors. The monetary penalty could be as high as Rs 50 crore. The government has proposed these stringent provisions in wake of several ponzi schemes where gullible investors, mostly poor people, were defrauded of amounts running into thousands of crores of rupees.
HDFC Ergo General Insurance is likely to be listed in next two years
For the year ended March 31, 2018, the profit after tax of HDFC ERGO stood at Rs 404 crore as against Rs 302 crore in the previous year, registering a growth of 34 per cent
ECGC cuts down its exposure to Gems & Jewellery sector
Geetha Muralidhar,CMD, ECGC said,“Keeping in view the ongoing developments in the sector, when large amount of bank loans have turned into non-performing assets(NPAs) in the sector, we have put our own control system in place. Earlier, we used to provide cover 75 per cent of loans. Now, whenever the export amount the sector crosses Rs 600 crore, our cover comes down to 50 per cent
General insurance collection up 12.2% to Rs 37,349 Cr in Q1
According to the statistics put out by the insurance regulator IRDAI, standalone private health insurance companies premium underwritten grew by 36.31 percent to Rs 1,977.84 crore during the quarter under discussion.