In order to boost the sales of term insurance policies, which is showing a decline trend since past 3 years, market regulator Insurance Regulatory and Development Authority (IRDA) want insurance companies to sell term plans having maturity benefit. For this, IRDA will also bring a new set of guidelines in two months time and is also planning to allow business correspondents of the banks to sell these policies in the rural area of the country.

Adding to the above, IRDA said that at present,...  Read More »

Chairman and Managing Director of The New India Assurance Company Ltd., Mr. G. Srinivasan revealed the company’s premium collection plan for the financial year 2013-14. He said that company intends to collect the premium of Rs. 15,000 crores and that the intention to do so is clearly communicated to all the General Manager’s across the country.

Adding to the above, he also disclosed the fact that company would also initiate various actions to achieve and surpass its objective of premium...  Read More »

Market regulator Insurance Regulatory and Development Authority (IRDA) is taking its step forward towards ‘go green’ initiative. It is planning to set up depository like NSDL and CSDL, wherein customers can hold their insurance policies in electronic form, in the same manner as investors holding shares in the dematerialized form.

On the above, Mr. Sudhin Roy Chowdhury, IRDA member, in the Insurance sumit, told the press that the proposal of having an insurance depository and holding of...  Read More »