by AIP Online Bureau | Nov 11, 2024 | Indian News, Intermediaries, Non-Life, Regulation, Risk Management
“Currently, only long-term Motor Third Party (TP) premium is booked annually and commissions also paid annually. Otherwise, the entire premium for other long-term policies such as Fire policies for dwellings, Engineering policies for projects, Janata Personal...
by AIP Online Bureau | Oct 16, 2024 | Indian News, Intermediaries, Non-Life, Regulation, Reinsurance
The broker did not remit the premium to the insurer/reinsurer within the time limit of 15 days. In view of the above and a history of similar violations persisting for long, where in some cases, the delay in remittance of premium was observed to be more than 900 days,...
by AIP Online Bureau | Jul 24, 2024 | Indian News, Life
The life insurer’s Value of New Business (VoNB) stood at Rs 970 crore with a 12 per cent year on year (Y-o-Y) growth in Q11FY 25. Its VoNB margin was at 26.8 per cent during the reporting quarter Mumbai: SBI Life, the largest private sector life insurer, has...
by AIP Online Bureau | Jul 1, 2024 | Eco/Invest/Demography, International News, Risk Management, Technology
Business interruption is usually the biggest cost following a cyber-attack, but businesses are able to reduce those costs with better back-up systems, such as through the use of cloud providers, the report said Cyber insurance premiums are falling globally as...
by AIP Online Bureau | May 2, 2024 | Eco/Invest/Demography, Health, International News, Life, Non-Life
The 2023 Study, drawing on from 294 insurers covering 1,040 products across diverse sectors, including health, life, agriculture, and property, estimates the value of the microinsurance market across 36 countries at USD 41.4 billion. With only 15 per cent of that...
