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Insurance

New motor vehicle bill to expedite claim settlement process
The new motor vehicle amendment bill seeks to reduce the turnaround time in settling motor insurance claims and help the insurance industry limit their losses.
by Rosevina Gonsalves May 24, 2017
Insurance Ombudsman can now deal with claims up to Rs.30 lakh
An insurance Ombudsman deals with the disputes related to claim settlement, mis-selling, premium payment and legal construction of policy wordings.
by Rosevina Gonsalves May 23, 2017
Insurance premium set to increase from July 1
The government has kept GST rate at 18% for the insurance industry.
by Nishant Patnaik May 22, 2017
Non-life policies will come with product suitability labelling
General insurers will have to classify if their policy is suitable for retail or institutional clients
by Rosevina Gonsalves May 5, 2017
IRDAI allows insurers to pay commission to web aggregators on policy sales
The insurance regulator included web aggregator under the purview of insurance intermediaries
by Team Cafemutual May 4, 2017
What influences insurance buying decision
According to a recent survey, 63 per cent people buy insurance due to increasing awareness
by Team Cafemutual May 2, 2017
Kotak Mahindra Bank to buy out entire 26% Old Mutual’s stake in insurance JV
The private lender has agreed to purchase the stake from Old Mutual for Rs1,292.7 crore
by Team Cafemutual Apr 28, 2017
68% Indian households prefer buying insurance policies through agents: IRDAI
Most Indians rely on their agents to fill up the proposal form
by Team Cafemutual Apr 25, 2017
68% Indian households prefer buying insurance policies through agents: IRDAI
Most Indians rely on their agents to fill up the proposal form
by Team Cafemutual Apr 25, 2017
Life insurance industry loses 5 lakhs agents in 5 years
The total number of agents declined from 26.08 lakh in FY 2011-12 to 20.88 lakh in FY 2016-17
by Team Cafemutual Apr 24, 2017
IRDAI imposes Rs20 lakh penalty on Tata AIG General Insurance
The insurer solicited business through unauthorised agents and made additional payments to corporate agents
by Team Cafemutual Apr 20, 2017
Life insurers mop up additional 26% from new business premium in FY 2016-17
The growth was largely on account of LIC, which contributed more than 70% to the overall industry’s new business premium collection.
by Team Cafemutual Apr 19, 2017
IRDAI revises third party motor insurance premium after widespread protest
The insurance regulator has reduced third party motor insurance premium from 40% to 28%.
by Team Cafemutual Apr 18, 2017
IRDAI asks insurers and intermediaries to share information about their sales representatives
The insurance regulator has instructed insurance companies and insurance intermediaries to start uploading such database from April 15
by Team Cafemutual Apr 15, 2017
You can be Flipkart or Amazon of insurance distribution
Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurance intermediaries to distribute insurance policies by floating their own e-commerce platform
by Team Cafemutual Apr 14, 2017