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Insurance penetration in the country was 3.4 per cent in 2015 against the world average of 6.2 per cent.

Govt may raise over Rs 15,000 crore from IPO of 2 PSU gen insurers

Government had estimated to garner about Rs 11,000 crore by diluting its stake in insurance companies.

18 Sept 2017 10:09 AM IST

Insurance penetration in the country was 3.4 per cent in 2015 against the world average of 6.2 per cent.

Over 22 lakh petition against GST on insurance premiums

The new GST system has brought additional burden also by taxing new areas.

6 Sept 2017 5:43 PM IST

Union minister Nitin Gadkari said development work worth Rs 5 lakh crore would be started in Maharashtra. (Phptp: Debasish Dey)

Focus on road safety, not just hefty premiums: Gadkari to insurers

The minister also asked people to take snapshots of trucks without side and back protection and vehicles with faulty...

27 April 2018 4:35 PM IST

The insurance industry would need to have free access to the data generated by multiple sources including telematics, on-board diagnostic (OBD) devices, and adaptive cruise control (ACC) fill this void by monitoring vehicles in real-time through the use of sensors.

Use telematics to price motor policies: IRDAI

Premium may be linked to driving, social behaviour.

28 Nov 2019 1:42 AM IST

In case of certain claims, insurance companies can now entrust loss assessment to people other than licensed surveyors or not make any loss assessment at all. This can make processing of claims faster, especially during times of calamities.

Surveyor assessment waived in some cases

In case normal commercial claims below a certain claim amount, we do not do an assessment.

20 Nov 2019 3:23 AM IST

Data analytics major SAS has created a new division to help organisations fight frauds and cyber crimes.

Gang dupes insurance firms to tune of Rs 81L, held

Employee of the crematorium in Mumbra secured some documents and roped in two doctors to sign.

28 Jan 2019 2:01 AM IST

A top IRDAI source told Financial Chronicle that the meeting was held in Hyderabad on February 19 and it was attended by 26 chairmen of both life and non-life insurance companies.

IRDAI issues norms on conflict of interest

The person found guilty shall no more be "fit and proper".

11 March 2019 3:20 AM IST

Scheme will provide an assured pension based on a guaranteed rate of return of 8 per cent per annum for ten years.

Govt offers pension for employees of public sector insurance companies

Decision is expected to benefit 42,720 employees of which 24,595 are of LIC and 18,125 of other companies.

4 March 2019 10:30 AM IST

Following the November 8-9 demonetisation, the government over the weekend asked public sector insurers to provide discounts of up to 10 per cent on the premium amount for general insurance policies and 8 per cent in new life policies of Life Insurance Corporation sold online.

Competition hits general insurers

The non-life insurers had grown by 17 per cent to Rs 1.33 lakh crore in 2017-18 and had posted a growth rate of 32 per...

20 April 2019 12:58 AM IST

Uddhav Thackeray

Shiv Sena to protest against insurance companies

The Sena has decided to lead a protest march against insurance companies on July 17, in order to expedite clearing of...

12 July 2019 1:48 AM IST

Future First Insurance Broking has teamed up with Arohan Financial Services, part of the Aavishkaar Group, eastern Indias largest NBFC MFI, to offer simple, customized and affordable insurance products in areas of major livelihood threats including health, accident, natural calamities, theft etc.

Fewer people approach insurance ombudsmen

Despite the number of consumer complaints rising, those being filed with the ombudsmen has been coming down.

15 Jan 2020 1:22 AM IST

Villagers carry the mortal remains of a 72-year-old Covid-19 victim for burial in his ancestral graveyard in Baramulla district of North Kashmir on April 25, 2020. (PTI)

So you thought corona was good for insurance companies?

It's great that everyone's taking health insurance but for insurance companies the claims are mounting

18 Sept 2020 1:06 PM IST