India Insurance News

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India Insurance News

Read Top India Insurance News Headlines and Daily Updates in English

The Most Recent India Insurance News Updates

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Chennai, Feb 11

IRDAI forms consultative committee on insurance investments

Indian insurance regulator has formed a 15-member consultative committee (including Chairman and Convenor) to review the regulatory framework on managing the investments in the sector and for other aspects. Read Full Story

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Chennai, Feb 5

Are two insurance councils taking the regulatory role of IRDAI through RRC?

Five months after the insurance Regulations Review Committee (RRC) was set up, the sub-group to look at the regulations for the intermediaries have not met even once. Read Full Story

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Chennai, Jan 11

With PPT slides and without report, 4 PSU general insurers are restructured: Unions

The Central government-owned four general insurance companies are restructuring their operations based on powerpoint presentations (PPT) provided by consultancy firm EY and without getting a full report, a letter from the joint forum of the union's states. Read Full Story

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Chennai, Dec 26

Unions in four PSU general insurers, GIC Re to strike work on Jan 4

With the unions in the government-owned general insurance companies and the General Insurance Corporation of India Ltd (GIC Re) calling a strike on January 4, a conciliation meeting has been called by the Chief Labour Commissioner (Central) for January 2, said a top union official. Read Full Story

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United Nations, Dec 14

UNSC reform: Jaishankar cites Covid vaccine source as example of changed world order

India's External Affairs Minister S. Jaishankar cited on Wednesday India's role in becoming the world's vaccinator in the Covid pandemic to demonstrate how the world order has changed requiring Security Council reforms. Read Full Story

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Chennai, Dec 14

'Existing Indian life and non-life insurers may not merge to become composite player'

The composite insurance licence regime may not see merger of life and general insurance companies owing to differing foreign shareholders and other issues, said experts. Read Full Story

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Chennai, Dec 14

No hiring in two PSU insurance companies for last few years

Two government owned general insurance companies -- National Insurance Company Ltd and Oriental Insurance Company Ltd -- have not recruited a single person for the last four/five years, Parliament was told. Read Full Story

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New Delhi, Dec 14

Delhi HC directs IRDAI to ensure products for persons with disabilities soon

The Delhi High Court has directed the Insurance Regulatory and Development Authority of India (IRDAI) to ensure the products are designed and introduced on an early date for persons with disabilities so as to enable them to obtain health insurance coverage. Read Full Story

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Chennai, Dec 8

IRDAI plans to allow general insurers to vend long-term motor package policies

The Indian insurance regulator has sought the stakeholders' views on allowing general insurers again to issue long term comprehensive two wheeler and private car insurance policies. Read Full Story

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Chennai, Dec 8

LIC can be converted into composite insurer merging 4 PSU general insurers with it

With the Central government proposing to allow composite insurers, the four public sector general insurance companies can be merged with the Life Insurance Corporation of India (LIC) is one of the views voiced by industry experts. Read Full Story

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Chennai, Dec 6

'Composite insurance regime should have only composite insurance council'

Is there a need for two insurance councils - life and general - when the government is proposing to allow composite insurers? Read Full Story

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Chennai, Dec 5

Insurance laws amendments: Delegation unlimited may invite despotism

The proposal to shift the legislative powers and vest them with insurance regulator and several other amendments proposed to the two insurance laws have raised many an eyebrow in the insurance sector. Read Full Story

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Chennai, Dec 2

Insurers selling other financial products is ultra vires the 2 laws, will lead to problems: Legal experts

Even as some call the Indian government's proposal to allow insurance companies to sell other financial products as radical, legal eagles say it is ultra vires of the two insurance laws governing the sector and not beneficial for the policyholders. Read Full Story

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Chennai, Dec 1

Basic structure of insurance laws to be altered with proposed amendments: Experts

The proposed amendments to the Insurance Act 1938 and the Insurance Regulatory and Development Authority Act 1999 alters the basic structure of the insurance laws that was derived from the Malhotra Committee on Insurance Reforms, said experts. Read Full Story

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Chennai, Nov 28

'IRDAI's new norms misses the elephant in the room'

The Indian insurance regulator is barking at the wrong tree or not addressing the elephant in the room -- high commissions and operational cost of insurers -- while unveiling the plans for 'Insurance for all by 2047', said Emkay Global Financial Services Ltd in a report. Read Full Story

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Chennai, Oct 18

Driven by health and motors, Indian general insurance sector logs 15.3pc growth

The Indian non-life industry logged 15.3 per cent growth during the first half of FY23 as compared to 12.6 per cent growth for the same period previous year, CARE Ratings Ltd said. Read Full Story

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Kolkata, Oct 15

No legal bar in making same-sex partners insurance policy bank account nominees

There is no legal bar for anyone in making their same-sex partner as a nominee in insurance policies in the name of that person, the Life Insurance Corporation of India (LIC) has confirmed in a reply to an RTI application by a Kolkata-based queer couple, Suchandra Das and Sree Mukherjee. Read Full Story

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Chennai, Sep 28

At Rs 1,000 per claim, National Insurance plans to hire Internal Ombudsman

In an attempt to reduce claims litigation costs, individual policyholders complaints to Insurance Ombudsman, government owned National Insurance Company Ltd has decided to hire an Internal Ombudsman. Read Full Story

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Chennai, Sep 27

Oriental Insurance to fix employee KPIs after discussion with unions

The management of public sector non-life insurer The Oriental Insurance Company Ltd will discuss with the employee unions before fixing the new key performance indicators (KPI), said the Officers' Association in the company. Read Full Story

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Chennai, Sep 14

Insurance laws amendments shouldn't change basic structure: Experts

Any amendments to Indian insurance laws should not change their basic structure that was derived from the Malhotra Committee on Insurance Reforms, said experts. Read Full Story

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Chennai, Sep 12

GIC Re Unions question bell curve appraisal not used by consultant itself

The bell curve appraisal system, junked by many big organisations including consultancy firm KPMG is being proposed to be implemented in General Insurance Corporation of India (GIC Re), the company unions said. Read Full Story

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Chennai, Sep 8

GIC Re executives were asked questions relevant to call centres by consultant'

What is the purpose of asking reinsurance officials about their proposed action on a hypothetical situation if employed in a hospitality or other sectors, fumes officials of General Insurance Corporation of India Ltd (GIC Re). Read Full Story

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Chennai, Sep 8

PSU general insurers recommend 12pc wage hike, unions dissatisfied

The employee unions in the government owned general insurance and reinsurance companies will be chalking out their next course of action as the government and the management has decided to offer a 12 per cent wage hike, said a union official. Read Full Story

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India Insurance News

Read latest India Insurance News online, including current affairs, and news headlines.

Top Daily India Insurance News Papers Headlines and Today's Live Trends in English updated when a breaking news scoop arises. Hot/latest/live/politics India Insurance News of Today

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