Life

Life Insurers will not cite ``force majure' for settling Covid-19 death claims

Indian News       Apr 06, 2020

      New Delhi: The Life Insurance Council on Monday said all the insurers are duty-bound to settle claims if a death occurs due to COVID-19.   All life insurers, both public and private, are committed to process any death claim pertaining to COVID-19 at the earliest, the...

Coronavirus Pandemic: Short-term closure of plants or premises can pose risks for companies:AGCS Study

Facts       Apr 06, 2020

  Johannesburg/London/Munich/New York/Paris/Sao Paulo/Singapore: Many companies are having to shutdown their premises temporarily at short notice due to the Covid 19 pandemic. According to the risk consultants of Allianz Global Corporate & Specialty (AGCS), improper action or negligence when decommissioning buildings and production facilities brings risks...

IRDAI asks insurers to follow rules strictly in paying commissions to the intermediaries  

Indian News       Apr 03, 2020

  Hydearbad: Finding fault with the existing systems followed by the insurers for paying of commission or remuneration or rewards to the intermediaries, the insurance regulator IRDAI on Friday has revamped the existing norms for its meaningful and effective compliance uniformly by all insurers from FY...

IRDA clears 16 Regulatory Sand Box proposals from 8 insurers

Indian News       Mar 31, 2020

  Hyderabad: The IRDAI in its second tranche of approvals related to innovative product proposals from Non-Life, Life and Intermediaries segments , under the Regulatory Sandbox plans, has allowed 16 products from five general insurers and three life insurers.   The period of approval for the new...

M R Kumar,Chairman, LIC

LIC & GIC Re contribute Rs127cr to PM CARES Fund for COVID-19 relief

Indian News       Mar 31, 2020

  Mumbai: LIC of India has contributed Rs.105 Crore to PM CARES Fund for supporting the efforts of the Government of India in fighting COVID -19 caused by Novel Corona Virus, the biggest pandemic the world has witnessed since more than a century. Out of the...

South Korean isurers hit hard by evaporating investment returns

International News       Mar 30, 2020

Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month.   Hanwha Life Insurance Co. has fallen 64% over the past...

Maha govt mulls insurance for staff treating COVID-19 patients

Indian News       Mar 28, 2020

  Mumbai: Maharashtra Health Minister Rajesh Tope on Friday said the state government is considering to provide insurance cover to the medical staff treating COVID-19 patients in the state.   In a Facebook live, Tope said apart from the insurance cover, the government also plans to give...

Manulife partners with dacadoo to help customers in Asia make healthier lifestyle choices

International News       Mar 24, 2020

  Hong Kong / Zurich: Manulife is announcing its collaboration with dacadoo, a Swiss-based global digital health platform provider to enhance the company’s digital offerings in Asia. Under this new partnership, dacadoo will strengthen Manulife’s existing health engagement platform, ManulifeMOVE, to enable customers to more easily...

LIC announces relaxation for premium payments

Indian News       Mar 22, 2020

  Mumbai: To help policyholders who are unable to pay insurance premium on time due to the coronavirus outbreak, state-run insurer Life Insurance Corporation (LIC) has extended the deadline up to April 15, 2020.   To contain the spread of the novel coronavirus, a majority of the...

Swiss Re, Zurich insurance in talks with Swiss regulator about Coronavirus Impact

International News       Mar 20, 2020

Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the matter.   The watchdog contacted Swiss Re AG, Zurich Insurance Group AG, Swiss Life Holding...

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