The IRDAI has published revised regulations governing unit-linked and non-linked insurance products.
EF Marine is now an approved insurance provider for ships entering Indian territorial waters in accordance to the country's merchant shipping rules stipulated by the Directorate General of Shipping. The marine underwriter provides fixed premium protection and indemnity (P&I) solutions to ship-owners, charterers and multimodal operators with Swiss Re Corporate Solutions being its exclusive insurance carrier for all products.
India's life insurance industry has reported a persistency ratio of 47% in the 61st month for the financial year ended 31 March 2019 (FY19). This means that less than half of life policies continue into the sixth year.
Employees of Liberty General Insurance cycled through the busy streets of Mumbai to create awareness on the importance of following traffic rules and the dangers of increasing air pollution.
Health insurance policyholders in India could soon be able to select a third party administrator (TPA) of their own choice to service claims on their health insurance policies, depending on their insurer's ties with TPAs.
The Insurance Regulatory and Development Authority of India (IRDAI) has clarified that only new private cars and two-wheelers will be covered by new rules governing long-term third-party motor insurance, reported local publication Financial Express. While existing vehicles can continue to renew their policies on an annual basis, it will be compulsory for new private cars to go for three-year policies and for new two-wheelers to go for five-year policies.
Religare Health, a private health insurer in India, has taken the initiative to create awareness among its customers and the general public about the benefits of its health insurance policy.
The government of flood-prone Kerala, a coastal state in southern India, is thinking of setting up an natural disaster insurance scheme to cover residential properties, in the wake of the massive devastation caused by the floods that hit the state last year.
Agriculture Insurance Company of India's general manager and CRO has been made the officiating CMD of the company. He replaces Mrs T Alamelu who has been appointed a whole time member (non-life) of the IRDAI.
MS Amlin, a syndicate of Lloyd's India, has exited the Indian reinsurance market after a group-level global decision.