Insuarnce Newsletter – July 22 to July 26, 2013

India Infoline News Service | Mumbai |

General insurer United India Insurance plans to open 530 new offices this year across the country, according to a media report.

Top Stories 

IRDA issues clarifications on insurance repositories norms

The Insurance Regulatory and Development Authority (IRDA) has issued clarifications on the guidelines on insurance repositories and electronic issuance of insurance policies. The insurance regulator issued the following clarifications on the guidelines on insurance repositories and electronic issuance of insurance policies dated 29th April, 2011. Read more...

General insurers to monitor accidents on highways

General insurance companies are planning to launch a new project to track fatalaccidents on major highways and provide instant medical support to the victims, according to a media report. Read more...

Insurance premium for hydro projects may be revised

According to general insurers, the industry may need to review the premium rates of hydroelectric projects in disaster-prone areas like the Himalayas after the Uttarakhand disaster. Read more...

Aadhaar KYC rules can be followed for e-insurance: IRDA

The Insurance Regulatory and Development Authority (IRDA) said that only those insurers who have tied-up with a licensed insurance repository can issue a policy in the electronic form on the request of a customer. Read more...

Special Stories 


Banks to collect EMIs through electronic transfers: RBI

The Reserve Bank of India (RBI) advised banks that no fresh or additional post dated cheques (PDC) or equated monthly instalment (EMI) cheques should be accepted at locations where electronic clearance service (ECS) is available. Read more...

Domestic News


Reliance Life initiates drive against spurious callers

Reliance Life Insurance Company (RLIC), part of Reliance Capital, has embarked upon a pan-India drive to fight against spurious calling by fraudsters and miscreants.
Spurious calling is a term used by the insurance industry to refer to a group of fraudsters who call customers posing as representatives or employees of a company and lure customers into buying insurance products by making false and bogus offers. Read more...


Uttarakhand Floods: JP lodges claims for insurance

The Jaypee group’s Jaiprakash Power Ventures has become one of the first companies to lodge a claim for compensation due to the Uttarakhand floods, according to a media report. Read more...

United India Insurance plans to open 530 new branches

General insurer United India Insurance plans to open 530 new offices this year across the country, according to a media report.  At present, the company has 1,340 offices in India, according to United India website. The company had collected total premium of Rs. 92.66 billion in 2012-13 and has set a target of reaching Rs. 110 billion in FY13-14, the report added. Read more...  

Aegon Religare Life, Yes Bank tie-up

Shriram Transport Finance to foray insurance broking biz

New Appointments

Edelweiss Tokio Life appoints Venkat Krishnan as CTO

Edelweiss Tokio Life Insurance on Monday appointed Venkat Krishnan has as the company’s chief technology officer. Krishnan will be overall in-charge of technology and will report directly to Muralidharan R, Chief Operating Officer, Edelweiss Tokio Life Insurance. Read more...

Learning

Things you may not know about PPF

One of the popular, preferred, and preeminent tax saving investments is PPF (Public Provident Fund). We all know about PPF. Do we know all about PPF? Let us discuss in detail about PPF in this article and understand it comprehensively and completely. Read more...

 

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