The legendary master blaster, Sachin Tendulkar, has insured his house in Mumbai’s posh locality, Bandra for Rs 100 crore.

According to sources, the insurance cover is provided by a group of different insurance companies which includes the 4 public sector general insurers – New India, United India, National and Oriental Insurance as well as one private insurance company.

The premium that Sachin Tendulkar will have to shell out for this magnanimous cover will be close to Rs 40 lakh per...  Read More »

According to latest media reports, the Indian government has asked Life Insurance Corporation of India (LIC) to consider buying 10% stakes in the ailing Kingfisher Airlines.

As per the current market cap, the deal would be valued at around Rs 120 crore whereas the total debt required by Kingfisher Airlines is over Rs 2000 crore. An undisclosed official said that the government has asked LIC to consider it but the final decision will lie in the hands of LIC.

If such a deal goes through, it...  Read More »

Punjab National Bank (PNB) said that its board has approved MetLife India Insurance Company for strategic partnership in the insurance business. 

MetLife India Insurance Company  was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors.

In January, state-run lender PNB, had invited expression of interest (EOI) from Indian and foreign companies for a new venture. The board...  Read More »

MetLife Insurance India Company has partnered with the India Unite to End Polio Now (IUEPN) campaign, supported by United Nations Children's Fund (UNICEF), to raise awareness for polio eradication. 

In an attempt to draw maximum eyeballs and to spread this message across, they will use out of home media. Buses have been branded with their messages 'Pehle 5 saal, mere bachchon ko 2 boond har bar' and 'Polio ka koi ilaaj nahi, 2 boond har bar hai bachav sahi'. The campaign will be carried...  Read More »

Federation of Bus Operators Association of Tamil Nadu and 25 others, including lorry  operators, self financing colleges and deemed universities etc, had filed a petition in response to Insurance Regulatory and Development Authority’s decision to increase the premium on third-party insurance for buses (IRDA).

Along with other issues, they demanded that IRDA deferred the premium hikes until there was a clear demarcation between heavy passenger vehicles and other passenger carrying vehicles.

Read More »

Oriental Insurance Company has been asked to compensate Zaveri Bazaar’s jeweller for the burglary which took place in his store Royal Jewellery in 2004.

A few years back Amrit Jawanmal Shah filed a claim with the insurance company stating that his store was burgled of jewellery worth Rs 27 lakhs. The insurance company refused to provide a compensation stating that the theft did not take place. On top of this the insurance company filed a fraud case under section 420 and 511 of the Indian...  Read More »

Insurance companies like United India, New India Assurance, Chola MS, Star Health and Oriental will again get the chance to bid for the Central Government Health Scheme (CGHS).

 
Last year, government opened the bids to insurance companies for carrying out its ambitious CGHS project. Private general insurer ICICI Lombard beat its competitors and won the bid for the project. However, the government has decided to cancel last year’s tender and re-initiate the bidding process this year.

Other...  Read More »

Bajaj Allianz is on a selection spree to choose 4 teenagers from over 41 cities in India who will get once-in-a-lifetime opportunity to practice with the FC Bayern Munich coaches on the club’s official training ground, attend a match at Allianz Arena, the unique football stadium and meet FC Bayern Munich football stars.

Kolkata, Pune, Goa, Gangtok, Bhubaneshwar, Guwahati, Aizawl are among the 41 cities where the selection of teenagers in the age group of 14 to 16 years will take place. This...  Read More »

The Insurance Regulatory and Development Authority (IRDA) has increased the third party motor insurance premium for all vehicles that hit the road.

Third party motor insurance cover is mandatory in India. In case of an accident, third-party insurance covers the insured person’s liability to any damages, bodily injury caused to a third person.

IRDA has finally announced that the new rates on third party motor insurance will be effective from April 25. The premium rates have been hiked in...  Read More »

Infosys Technologies, Mahindra Satyam, L&T Infotech and Keane are the four IT companies shortlisted by Insurance Regulatory and Development Authority (IRDA) for its Business Analytics Project.

In order to meet its business and functional requirements, IRDA had invited bidders for the project. The committee, after thorough assessment of the responses and evaluations made by Deloitte, felt that the proposals made by these four IT companies were complete and they had agreed to all the terms and...  Read More »