Every needs a cheap and best deal, same is the case with life insurance. Now a days there are lots of life insurance companies in India.
IRDA is considering a proposal to allow new employees enter into existing group pension schemes, which are generally offered by companies as an additional retirement benefit to top managers. IRDA had, some time back, barred the entry of new employees into…
The Insurance Regulatory and Development Authority (Irda) has said private life insurers have failed to meet the breakeven targets indicated by them at the time of seeking a licence. However, companies have started taking corrective action and have reduced their operating expenses considerably.
Insurance regulator IRDA imposed Rs 50 lakh fine on 6 insurance companies, including private sector players Reliance General and Apollo Munich Health in 2009-10 for failing to comply with various norms, including rural and social obligations.
Insurance regulator IRDA on Tuesday said that all universal life products, a new kind of insurance which entered India recently and gives greater flexibility to customers, will not have any unit-linked component in them.
The insurance watchdog earlier said it would launch investigation in to the books of LIC pertaining 2009-10. J Harinarayan IRDA chairman said there is no violation committed by the LIC and it was just an actuarial shortage as to the current actuarial estimates.
Mumbai-based Videocon Industries is set to enter the financial services sector by forming a non-life insurance joint venture with Liberty Mutual Group based in Boston, Massachusetts. Videocon, the flagship of the $5-billion Videocon Group,
A personal hearing was given to M/s Reliance Life Insurance Company on July 28, 2010. Sri Malay Ghosh, President and his team were present. On behalf of IRDA, Sri G. Prabhakara, Member (Life), Sri A Giridhar, ED (Admn), Sri Kunnel Prem, CSO (Life) and Sri Satish Hegde, OSD were present.
It’s been over two months since the new IRDA norms for unit linked insurance plans (ULIPs) came into effect. The guidelines that have capped the overall charges and also imposed a minimum prescribed return may offer a much fairer deal to investors, but don’t seem to have set the cash registers ring for companies.
The debate on whether health insurance is safer in the hands of life companies or general insurers has been on since quite some time in India. Today, a host of non-life and life companies, including public sector behemoth Life Insurance Corporation (LIC) offer health cover to individuals. While the non-life companies continue to dominate the health space, this does not mean that they have had a smooth sailing all along, having been beset with loss-making health portfolios.