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IRDA norms to boost online distribution
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Change in the regulatory environment, which has compelled insurers to cut distribution costs, is leading life companies to look at new low-cost channels for distribution.
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IRDA asks IndiaFirst Life to adhere to ad norms
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The Insurance Regulatory and Development Authority has warned IndiaFirst Life Insurance Company Ltd on violation of norms related to advertisements.
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Insurers force auto makers to bring down repair costs
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After bargaining with hospitals to reduce charges, general insurers have turned to the auto industry to bring down cost of repairs , most of which is paid for by the insurance sector.
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Oriental Insurance, National Insurance need Rs 1,000 crore as motor pool strains solvency
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The government may have to invest 1,000 crore in two non-life insurance companies - Oriental Insurance and National Insurance - to make up for provisioning requirements towards third-party motor pool by March
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New business income for life insurance companies down 17%: IRDA
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Sales of life insurance policies continue to decline even during the tax-saving season. According to the data released by the Insurance Regulatory and Development Authority
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Life insurers’ first-year premium down 17%
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The first-year premium of life insurers has decreased 17 per cent to Rs 71,952 crore up to December 31, 2011 compared with Rs 86,697 crore in the year-ago period.
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‘Health insurers must introduce products for day-care ailments’
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Non-life insurers need to focus more on introducing products to cover day-care ailments, according to Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority.
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‘Health insurers must introduce products for day-care ailments’
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Hyderabad, Jan 24 Non-life insurers need to focus more on introducing products to cover day-care ailments, according to Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority.
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LIC launches Jeevan Ankur child plan
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The country's largest insurer, Life Insurance Corporation (LIC), today launched a new product in the child plan space that aims to meet educational and other needs of children.
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Punjab National Bank waiting for IRDA nod on Metlife deal
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Awaiting regulatory approval for its proposed acquisition of a 30 per cent stake in insurance company Metlife, Punjab National Bank (PNB) has said it will not disclose the rationale behind the move or the financial details until IRDA
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IRDA nod must to reassess insured entity's loss: NCDRC
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The insurance firms cannot appoint a second surveyor to reassess the loss suffered by an insured entity without sector regulator IRDA's permission, the country's apex consumer forum has held.
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Portability drives health cover innovation
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Health insurance market has become competitive following the introduction of portability which allows customers to switch companies without losing their "no-claim" benefits.
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Indians working abroad to get cover, pension benefits
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In a move that could benefit overseas Indian workers particularly those who are in the Gulf countries, the government on Wednesday cleared a proposal for setting up of a Pension and Life Insurance Fund (PLIF) for them in the Emigration Check Required (ECR) countries.
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HDFC Life launches online term insurance plan
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Private insurer HDFC Life has augmented its online channel with the launch of ‘HDFC Life Click2Protect’ — an online term insurance plan.
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General Insurers like United India Insurance Company to take Rs 100 crore hit from cyclone Thane
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The cyclone Thane in Tamil Nadu and Puduchery would have caused an economic loss of Rs 1,500 crore to Rs 2,000 crore, but the insurable loss is hardly Rs 100 crore.
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Star Union Dai-ichi launches 'Dhan Suraksha'
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Star-Union Dai-ichi Life Insurance has kick-started its campaign to attract such individuals this season by introducing Dhan Suraksha Platinum
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Aegon Religare Life Insurance set to make iTerm policy cheaper
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Aegon Religare Life Insurance is set to make iTerm, billed as the country's cheapest online term plan, more attractive by reducing premiums and increasing benefits in the next few days.
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Damage by cyclone Thane to lower general insurers' profits
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Insurance claims after Cyclone Thane crossed Cuddalore on the Tamil Nadu coast last week leaving a trail of death and destruction could bring down profits of general insurers this fiscal, say industry officials.
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Man seeking med insurance for ailing mom gets relief
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Insurance company has to pay claims where hospitalization is not required due to technological and medical advancement.
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Cholamandalam MS General Insurance targets Rs.1,350 crore premium by March-end
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Cholamandalam MS General Insurance booked a total premium of more than Rs.1,000 crore in the first nine months of the current fiscal and hopes to achieve a business of Rs.1,350 crore this fiscal, focussing on new products.
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Insurers and the growth conundrum
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Non-life insurance companies today find themselves juggling a variety of challenges as they work to improve profitability, grow and compete in a dynamic emerging market.
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Rise in global reinsurance rates likely to pinch Indian insurers, may lead to increase in premium rates
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Rise in global reinsurance rates this year may force Indian insurers to shell out extra for the upcoming renewals, thus leading to an increase in premium rates on insurance covers.
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LIC pips pvt insurers in settling claims: IRDA
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The Insurance Regulatory and Development Authority has said that the Life Insurance Corporation of India has performed better in terms of claim settlement ratios as compared to private life insurance companies.
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2011 saw a number of regulatory changes for the insurance industry
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The year 2011 was an interesting one with a number of regulatory changes for the insurance industry. However, life insurers had a tough time battling lower
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MetLife India Insurance unveils Smart Child plan
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Met Smart Child plan is a regular premium unit-linked child plan from MetLife India Insurance Company.
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