Third-party liability (TPL) motor insurance premiums for various categories of vehicles will be increased in general with effect from 1 June by the Ministry of Road Transport and Highways (MoRTH).
Howden, a UK-headquartered international insurance broker, has received the insurance regulator IRDAI's approval to raise its shareholding in Howden Insurance Brokers India (Howden India) from 49% to 100%.
Over the last few years, digital marketing and e-commerce have gained traction and have reshaped how life insurance is purchased. We spoke to Aditya Satpute, CVP - E-commerce & Digital Marketing, Max Life Insurance to find out more about how this is likely to play out over the next few years.
The IRDAI, in continuation of its insurance reform agenda, is holding a conference on 30 May 2022 in Bengaluru focussing on the InsurTech ecosystem and its benefits to the insurance industry.
The non-life insurance industry in India has begun the new fiscal year with 23.3% growth in April 2022, the highest in the past seven months, notes CareEdge (earlier known as CARE Group).
The IRDAI has said that it is unacceptable for general insurers to advertise services provided by motor workshops that are not related to insurance claims as benefits provided within the motor insurance cover.
Digital financial services firm One97 Communications, which operates under the Paytm brand, has formed a general insurance joint venture to which it has committed to invest INR9bn ($122m) over a period of 10 years.
Life insurance companies in India have received at least 218,000 COVID claims amounting to INR169.22bn ($2.18bn), according to data released by the Life Insurance Council, an umbrella body of life insurers.
Trading in shares of Life Insurance Corporation of India (LIC) opened and closed yesterday at prices below the company's IPO price.
The IRDAI is allowing general insurers to design new and customised products for fire and allied perils related to dwellings, micro and small enterprises, in its bid to increase insurance penetration and provide a wider choice to policyholders.