The 2023 Study, drawing on from 294 insurers covering 1,040...
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Bermuda insurer credit profiles supported by BMA regulatory reforms: Fitch
The Bermuda life insurance market has grown rapidly. Assets...
ICICI Pru Life gets GST and penalty notices for over Rs 855 crore from several states
ICICI Prudential Life Insurance has received a GST and penalty...
Max Life Insurance partners with Royal Challengers Bangalore for IPL 2020
As part of the partnership, Max Life will be the official life insurance partner of the Royal ChallengersBangalore (RCB) team for the second consecutive year. In addition to being the team’s official life insurance partner, Max Life is also among the apparel partners for RCB for the 13th edition of Indian Premier League T20.
Bajaj Allianz Life launches Smart Assist
Tarun Chugh, Managing Director and CEO of Bajaj Allianz Life said, “The business environment has changed significantly since the pandemic, and it is essential to respond to changing customers behaviors. We are focused on building agile business processes to meet the new needs, and Smart Assist is yet another step in that direction. The innovative tech-enabled service is designed to deliver superior service experience. We are confident it will play an essential role in keeping life goals of our customers on track, irrespective of the limitations due to the pandemic.”
Axis Bank cuts stake purchase in Max Life to 17%
The private-sector lender’s move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement.
LIC launches new Annuity Plan
he policyholders have an option to choose a type of annuity from 10 available options on payment of a lump sum amount.
The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life time of annuitants.
Aditya Birla Sun Life open to consolidation due to Covid-19 disruptions: MD
Under the current scenario, it was very difficult to have a short or long-term view about the business, he said adding ABSLI would continue to have a healthy mix of products with a focus on protection and guaranteed solutions.
In certain pockets, owing to liquidity issues, delay in payments have been observed but no negativity in collection, he added.
Rao also said that death claims in the first quarter of the financial year have been on the lower side compared to the same period last year.
Govt to hire Deloitte, SBI Capital Markets to help LIC prepare for IPO
The advisers will help evaluate the capital structure of India’s biggest insurer as well as aid the company in reworking its financial statement, according to a tender document issued in June.The government will soon invite bids seeking firms to value LIC,
Insurer AIA’s new business drops 37% in first-half as pandemic hits sales
Insurers across the world have been hit by pandemic-related claims including for travel, business interruption and event cancellation, while economic slowdown and job losses have led to reduced demand for life insurance.
In Asia, insurance firms mainly rely on their army of agents for product sales, which have been dented by lockdown and social distancing measures put in place in various countries to contain the pandemic.
COVID-19 will see insurers adapt polices as risks change, says GlobalData
the transition to working from home has led to concerns in other areas such as physical and mental health, which were not originally covered in household policies. As everyday risks change, insurers will have to adapt their policies accordingly, says GlobalData, a leading data and analytics company.
COVID-19 Pandemic:Insurance Shield for the medical fight
It is vital that risks are identified and monitored throughout the duration of a clinical trial. Key risk indicators include patient safety, patient recruitment, site performance, data quality and vendor performance. Data must be monitored throughout the trial, and the trial team must remain focused on risk at all times
From Africa to America, businesses and insurers face survival showdowns
Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory.
The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to the widespread lockdowns seen globally. Facing pressure from regulators, mounting reputational damage and a wave of lawsuits, they warn that paying out could sink their industry.
In some countries, including South Africa, France and Germany, insurers are now opening their chequebooks. But for many customers, these settlements or ex-gratia payments – voluntary payouts that do not imply legal liability – fall short.