"A high-level committee of the IBA and UFBU will be formed...
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5 Yrs of PM-Jay:60 cr beneficiaries,13 cr hospital admissions, Rs 2 lakh cr spent on treatments, says Nadda
J P Nadda,Union Health Minister Dr M Srinivas, Member (Health),...
Climate change: Centre assures support to farmers battling drought, floods
While some states in the country were dealing with floods, others...
Airbus detects surface coating issue with A321 neo fuselage; some IndiGo planes see impact
Around a dozen of A321 neo planes with IndiGo have been impacted, the sources said while there is no impact on the aircraft in the Air India fleet New Delhi: Airbus has detected a quality issue with the surface protection coating on the fuselage of a significant...
Dinesh Pant resigns as MD of LIC, to join as member, Actuary,IRDAI soon
With Pant's departure, LIC has now vacancies of two managing directors.Going by the rules, for one of the MD posts, for the first time, private sector candidates can apply. New Delhi: The government has accepted the resignation of Dinesh Pant, 59, managing director,...
IRDAI plans sweeping reset of insurance distribution, say experts
“The changes would directly affect automobile dealers, OEM-linked brokers, insurers and other motor insurance distributors quite drastically. By reducing upfront earnings from new-vehicle policies and tightening dealer-linked arrangements, the proposals could further...
Keralam govt forms panel to roll out Oommen Chandy Health Insurance Scheme with Rs 25 lakh cover
V.D. Satheesan,Chief Minister, Keralam Three insurance-sector veterans have been appointed as expert members: Girish Radhakrishnan, former CMD of United India Insurance Company, P. J. Joseph, former CMD and former Member (Non-Life) of IRDAI; and K. Sanath Kumar,...
HC can enhance compensation even without claimant appeal: Lucknow bench
The court made the observation while dismissing an appeal filed by the National Insurance Company Ltd against an award of the Faizabad Motor Accident Claims Tribunal. The tribunal had awarded ₹7.20 lakh to the family of one Sabhajeet Tadmali. The high court enhanced...
Insurance and bank stocks erase $14 billion on IRDAI’s fee cap plan
PB Fintech, which owns Policybazaar, plunged as much as 34%, while Turtlemint dropped 20%. Shares of HDFC Life, Bajaj Finserv, the holding company for Bajaj Life and Bajaj General Insurance and Max Financial Services, the holding company of Axis Max Life Insurance...
India’s insurance sector sees resilient growth, but profitability, productivity remain key challenges: McKinsey
Between fiscal years 2017 and 2025, the number of in-force individual life insurance policies has remained essentially flat, at around 330 million,” which further indicates insurance has yet to fully benefit from the country’s wider financial inclusion gains. The...
IRDAI’s Distribution Reforms: Commission on general insurance products proposed to be slashed from 30% to 20%, to 12.5% for life over 5 yrs
Greater transparency would be required from insurers and large distribution entities, which would have to disclose commission policies and structures in a simple and accessible manner. Specified commercial insurance policies would also carry commission disclosures,...
FSSAI starts penal action against Amazon, Swiggy, BigBasket, others
In a social media post, the Food Safety and Standards Authority of India (FSSAI) informed that it has launched a "major crackdown on e-commerce platforms, including Amazon, Swiggy Instamart, BigBasket, Flipkart India and Zepto over regulatory non-compliances". The...
Karnataka govt constitutes SIT to probe fraudulent insurance claims
The government order directed the SIT to conduct a comprehensive investigation into all fraud complaints received from insurance companies and submit investigation reports to the government without delay through the Director General and Inspector General of Police....