Photo: The Financial Express
Premium For Third-Party Insurance On Vehicles Increase Beginning June 1: IRDAI
The Insurance Regulatory and Development Authority (IRDAI) has stated that third-party insurance premiums would be increased beginning June 1. The increase in the premium impacts the on-road pricing of new and old vehicles. The increase in insurance premiums will only affect motorbikes with displacements greater than 150 cc. Third-party insurance prices for new registrations of automobiles with displacements ranging from 1000 cc to 1500 cc… read-more
Tags: Cars, Two-wheelers, Insurance, Third-party Insurance, Premium
Courtesy: Zee News
Photo: News18
LIC Raises Crores From Anchor Investors
Insurance giant LIC has raised Rs 5,000 crores from anchor investors. This comes ahead of its IPO. The LIC has allotted around 59.3 million shares to as many as 123 investors at the price of Rs 949 each. Domestic investors like SBI Mutual Fund, ICICI Prudential, Kotak Mahindra Life Insurance, Bajaj Allianz General Insurance and others have expressed interest in the LIC.
Tags: business, LIC, IPO, Insurance, Investment
Courtesy: Money Control
Photo: News18
LIC Announces IPO Launch Date, Timelines & More
At the LIC press conference held today, the company's IPO launch date, timelines, etc, were finalised. The much-anticipated IPO of the insurance giant would finally open on May 2. Based upon the demand and subscription, the government may choose to raise the stake offer to 5%. If that happens, the state's coffer would attain Rs 30,000 crores from the sale of the equity.
Tags: LIC, IPO, Launch, business, Insurance
Courtesy: NDTV
Photo: The Times of India
Wife Falsy Declares Husband Dead, Obtains Insurance Money
A man from Ahmedabad named Nimesh Marathi has filed a complaint to police that his wife has managed to declare him dead and obtained Rs 18 lakh insurance amount three years ago. However, the police have arrested Marathi's 45-year-old wife Nanada Marathi and the accused doctor Harikrushna Soni for falsy testifying. Reportedly, the doctor had declared the man to be dead due to cardiac arrest on March 6, 2019.
Tags: Cheating, Cardiac arrest, Ahmedabad , Insurance, death certificate
Courtesy: LatestLY
Photo: Outlook India
UP Govt Promises Insurance For Labourers On International Labour Day
The UP government on May 1 announced two schemes for the welfare of labourers in the state, commemorating the International Labour Day. Reportedly, the government will provide an insurance cover of Rs two lakh for accidental deaths and disability. Besides, a health insurance cover of Rs 5 lakh will also be provided. CM Yogi Adityanath also stated about the formation of the UP Labour Commission that helps individuals find jobs.
Tags: CM Yogi Adityanath, Uttar Pradesh, Labour Day, Insurance
Courtesy: The Times of India
Photo: Hindustan Times
Lok Sabha Passes Insurance Amendment Bill; Raises FDI From 49% To 74%
Fulfilling this year's budget proposal, the Lok Sabha on March 22 passed the 'Insurance Amendment Bill 2021.' Reportedly, the Bill provisions to increase the FDI limit in the insurance sector to 74% from the earlier 49%. Moreover, it legislated to ensure that key management positions including the board of directors should be Indians with at least 50% directors as Indians. Strengthening ‘Indian Management Control’, the law provides Indian… read-more
Tags: lok sabha, parliament, FDI, FDI cap, Insurance, Insurance Amendment Bill 2021, Nirmala Sitharaman
Courtesy: Money Control
Photo: Study .com
IRDAI Urges Insurers To Be Transparent In Health Insurance Claims
The insurance regulator IRDAI has instructed insurance companies to be more transparent and furnishes details in cases of denied claims. Laying stress on the policyholders of life insurance schemes, the regulator, under the new circular on 'Health Insurance Claim Settlement,' urged the companies to provide updates about cashless claims when needed. Besides, asking companies to avoid rejecting claims based on "presumptions and conjectures", … read-more
Tags: Life insurance, India, health care, Insurance, IRDAI
Courtesy: The Economic Times
Photo: The Print
RBI Asks Banks To Limit Stake In Insurance Sector
The Reserve Bank of India has requested banks to dilute their stake in the capital intensive insurance sector to 20%, reducing the limit to over half. The regulator urged banks to focus on the dominant area of business instead of the insurance sector, seen as a 'money guzzling business,' Earlier, banking institutions were eligible to hold a 50% stake in insurers. Interestingly, the move came after the Centre increased the FDI cap to 74%.
Tags: RBI, India, Modi Government , Central Government, FDI, Insurance
Courtesy: Hindustan Times
Photo: Amar Ujala
WhatsApp To Offer Health Insurance, Micro-Pension Products
WhatsApp India Head Abhijit Bose revealed at ‘Facebook Fuel for India' event that WhatApp will soon launch its health insurance and micro-pension services. Bose said while the company was working with SBI General for health insurance, it is partnering HDFC Pension and Pinbox for micro-pension products. The health insurance will be rolled out in end-2020 only, he added. Targeting its large user base, the company is looking to offer services on… read-more
Tags: WhatsApp, Health, Insurance, Micro-pension, WhatsApp Pay, HDFC, PinBox
Courtesy: Gadgets 360
Photo: Yes Punjab
SBI Life Signs Bancassurance Agreement With Yes Bank
SBI Life on September 21 inked a pact with Yes Bank to sell its insurance policies. With this, SBI Life's insurance policies are now available for Yes Bank's customers across the country. Ravi Krishnamurthy, SBI Life President-Zone1, said, "we aim to provide financial security for consumers and further reduce the protection gap in India." Reportedly, SBI Life will use digital infrastructure of Yes Bank to bigger its reach.
Tags: SBI, Yes Bank, Insurance, Financial Security
Courtesy: The Indian Express
