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Notional income for homemakers in claims case signals their value, rules SC

In far reaching ramifications, especially in award of compensation to road accident victims involving homemakers, the top court said that fixing of notional income for them is a recognition of the multitude of women who are engaged in this activity, whether by choice or as a result of social/cultural norms.
Deciding an appeal filed by two surviving daughters and a parent of the deceased couple which met with an accident here, the bench modified the Delhi High Court order and enhanced the compensation of Rs 22 lakh to the claimants by Rs 11.20 lakh, to a total of Rs 33.20 lakh.

IRDAI asks life insurers to maintain 13th month persistency at 90%

Life insurance business expected is to grow by 12 to 15 per cent in the coming years and life insurers will play a crucial role in creating huge employment through agency channel under the “New Normal, said M R Kumar, Chairman, Life Insurance Corporation

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