The Pension Fund Regulatory and Development Authority (PFRDA) is developing a pension scheme with minimum assured returns, the regulator's chairman, Mr Deepak Mohanty, has said.
The government has asked insurance companies to report their exposure to the triple train accident in Odisha on 2 June, in terms of coverage and claim payments towards the victims of the collision.
Aegon Life has launched India's first life insurance cover tailored for surrogate mothers and egg-donors.
Participants of a national health insurance summit have called for the establishment of an independent high-powered health insurance grievance redress tribunal.
The IRDAI has issued draft guidelines for Bima Vahaks, a new initiative aimed at enhancing insurance inclusion and penetration in rural areas.
Nearly all (94%) of existing and potential health insurance customers in India regard customisation as a crucial factor in buying medical insurance, according to a survey commissioned by Future Generali India Insurance Company.
A number of insurers are mulling an increase in the premium rates for term life insurance this year after two years of high claims from the COVID-19 pandemic.
India lost around 138,300 lives in 573 disasters linked to extreme weather and climate change between 1970 and 2021 according to World Meteorological Organisation (WMO).
State-controlled LIC, India's biggest insurer, has posted an increase in consolidated net profit after tax of 7.7 times for the financial year ended 31 March 2023 (FY2023). The net result reached nearly INR360bn ($4.4bn).
Bajaj Allianz Life has launched the country's first term insurance product designed for Type 2 diabetics and pre-diabetic individuals. The plan is targeted at a segment that ends up being underinsured as they are denied cover at standard rates for health reasons.