Insurance Regulatory and Development Authority of India
Life Insurance Corporation of India
LIC mops up over Rs 1,380 crore in a day
10 Dec 2019 1:55 AM

Earlier, the Irdai had asked insurers to withdraw products by November 30 and to come up with the revised products from December 1.

Till a few years back, the own damage share in motor premium used to be 60 per cent and third party, 40 per cent. However, the share of third party (TP) premium has since gone up to 52.7 per cent in 2016-17, 55 per cent in 2017-18 and further up 59 per cent in 2018-19, data from the Insurance Regulatory and Development Authority of India (irdai) shows.
Share of third party cover rising in motor premia
09 Dec 2019 2:25 AM

Two-wheelers and private cars have a higher proportion of own damage in the motor premium.

In addition to the existing provision, it is recommended that in all cases of total loss / constructive total loss claims and theft claims, the registration certificate (RC) of the vehicle shall be cancelled and claim shall be settled only after the insured surrenders such cancelled RC. The policy shall be cancelled without return of premium.
Motor cover to include on-road price, fittings
27 Nov 2019 1:08 AM

The new depreciation table is suggested for up to 15 years.

Among these, the 25 general insurance providers had a combined premium of Rs 12,447.10 crore during the month, up by 12 per cent from same period of 2018.
Non-life insurers register 17 pc rise in Aug new premium income at Rs 15,964 cr
22 Sep 2019 4:47 PM

The 34 insurers' gross premium collection stood at Rs 13,657.51 crore in the same month a year ago.

A high powered committee has asked insurance regulator to examine the issue of linking premium with traffic violations.
Traffic challans may up your insurance premia
07 Sep 2019 12:56 AM

Panel to suggest how to link offences with premiums.

The insurance industry has received about 2,500 claims worth over Rs 240 crore from the southern most state, the officials said.
Floods: Insurers expect over Rs 1,000 crore claims
23 Aug 2019 12:55 AM

The state-owned Oriental Insurance Company (OIC) has received 400 claims from Kerala alone, worth around Rs 40 crore.

Monsoon rains have also caused widespread damaged to life and property in three other states of Madhya Pradesh, Uttrakhand and Kerala. (Photo: Representational)
Expedite claims settlement in flood-affected Kar, MH: Irdai to insurers
12 Aug 2019 4:52 PM

Irdai issued advisory to general insurance and health insurance companies to expedite settlement of claims for the two states.

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