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Life insurance: Physical signatures not required to buy a new policy
Thu, Aug 06, 2020     Source : Mint
IRDAI , the Insurance Regulator has allowed life insurers to obtain the customer’s consent without requiring wet signature on the hard copy of the proposal form.
INSURANCE NEWS
Crop insurance: Rising costs force states to quit PM Modi’s flagship scheme
Wed, Aug 05, 2020     Source : Financial Express
The states’ share of premium jumped to 44% in FY20 from 41% in FY17 under the PMFBY and Weather Based Crop Insurance Scheme (WBCIS) while the Centre’s share increased to 42% from 40% during this period.
INSURANCE NEWS
IRDAI permits life insurers to issue policies electronically amid Covid pandemic
Wed, Aug 05, 2020     Source : Economic Times
Amid rising cases of coronavirus and disruption in normal business activities, regulator IRDAI on Tuesday allowed life insurers to issue life insurance policies electronically.
INSURANCE NEWS
COVID-19 crisis: General insurers flooded with claims for coronavirus
Wed, Aug 05, 2020     Source : Financial Express
According to general industry officials, states like Maharashtra and Tamil Nadu, and the national capital are witnessing higher number of claims.
INSURANCE NEWS
LIC's new business premium jumps 25% in FY20
Wed, Aug 05, 2020     Source : Mint
India’s largest life insurer Life Insurance Corporation of India or LIC reported a 25% growth in its first year premium by posting a highest ever figure of ?1,77,977.07 crore for the year ending March 2020...
INSURANCE NEWS
Insurers see spurt in surrender of policies
Tue, Aug 04, 2020     Source : Mint
Even as the coronavirus pandemic continues to rage, policyholders are giving up their life cover at a rapid pace amid pay cuts, job losses and general economic uncertainty, top executives at four life insu...
INSURANCE NEWS
Insurance intermediaries now to do business in all Special Economic Zones
Mon, Aug 03, 2020     Source : Business Line
Insurance intermediaries now to do business in all Special Economic Zones
INSURANCE NEWS
LIC's total premium clocks 12% growth in FY20 at Rs 3.79 trillion
Fri, Jul 31, 2020     Source : Business Standard
Settled 561 Covid-19 death claims amounting to Rs 26.74 crore
INSURANCE NEWS
Don’t let rising term insurance rates deter you from buying it
Fri, Jul 31, 2020     Source : Mint
The fear of contracting covid-19 has seen a surge in demand for life insurance policies in the country.
INSURANCE NEWS
Insurance companies turn net buyers of equities after eight years
Thu, Jul 30, 2020     Source : Business Standard
Sustained buying by them adds heft to market rally
INSURANCE NEWS
Over 45% of the urban Indians are planning to increase their health insurance spending
Thu, Jul 30, 2020     Source : Economic Times
Over 45% of the urban Indians are planning to increase their health insurance spending in the next six months owing to pandemic-induced risk realizations, according to a joint study conducted by Facebook a...
INSURANCE NEWS
Tata AIA Life Insurance promises claim pay-outs in four hours
Thu, Jul 30, 2020     Source : Mint
Tata AIA Life Insurance (Tata AIA Life) has announced the launch of Express Claims,which promises to process the life insurance claim pay-outs within four hours of registering the claim.
INSURANCE NEWS
Cumulative bonus to continue even if policyholder makes Covid- related claim
Thu, Jul 30, 2020     Source : Business Line
The outbreak of the Covid-19 pandemic has upended the lives of many, exposing them to health and financial risks.
INSURANCE NEWS
43% buyers of Corona Kavach health plan in 18-30 age group : Max Bupa survey
Wed, Jul 29, 2020     Source : Financial Express
Corona Kavach plan is the Covid Standard Health Policy and has one Basic mandatory cover and One Optional Cover.
INSURANCE NEWS
ESIC increases monetary grant paid to pregnant women to Rs 7,500
Wed, Jul 29, 2020     Source : Financial Express
The final notification will be issued after considering suggestions or objections from the stakeholders who have been given 30-day time for feedback.
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