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Tuesday, July 15, 2014

Former LIC chief Mathur to be NSE chairman

Former chairman of Life Insurance Corporation (LIC), S B Mathur, is likely to take over as the new non-executive chairman of the National Stock Exchange (NSE), the country’s largest equity trading bourse. According to industry sources, Mathur’s name is under consideration of the Securities and Exchange Board of India (Sebi) after NSE proposed it.http://www.myallagents.com/Former-LIC-chief-Mathur-to-be-NSE-chairman/details.html  


Checks on rise in health insurance renewal premium in the pipeline

The Insurance Regulatory and Development Authority (Irda) on Wednesday said it would soon come up with norms to prevent arbitrary increases in renewal premiums on health policies. It added insurance companies often raised premiums when policies under which benefits were claimed were due for renewal.
“We have seen if a party makes a claim in a g 

Give a pass to women-centric insurance plans

Parents and grandparents looking to save for their children/grandchildren's future have been the biggest targets for life insurance companies. The next in line are those 10-15 years away from retirement. In the recent past, life insurers have started focusing on women and have come up with products catering to women-specific needs, specially health-related.http://www.myallagents.com/Give-a-pass-to-womencentric-insurance-plans/details.html 

Irda to develop mechanism for faster approval of policies


The Insurance Regulatory and Development Authority (Irda) will soon develop a mechanism for faster approval of insurance policies and encourage companies to come out with low premium products for increasing insurance penetration, a senior government official said today.http://www.myallagents.com/Irda-to-develop-mechanism-for-faster-approval-of-policies/details.html

IL&FS-backed infrastructure debt fund targets $1-bn corpus


The infrastructure debt fund (IDF) backed by IL&FS Financial Services and Life Insurance Corp of India ( LIC) is planning to raise up to $1 billion (Rs 5,300 crore) initially from foreign and domestic investors.

The fund will use a trust structure (mutual fund route) for this venture, since it provides flexibility to invest in existing and new projects. Besides power, ports and road projects, the IDF might look at healthcare and education projects as well.http://www.myallagents.com/ILandFSbacked-infrastructure-debt-fund-targets-1bn-corpus/details.html  



Medical premium rate hike on cards by National Insurance Company

Sources from State owned National Insurance Company told that in order to mitigate the losses, the company could hike the rates of health insurance premium and according to the sources from their head quarter; this increase can range from 20% to 40%. Further on this, Mr. Ashok K. Roy, Chairman of General Insurance Corporation said that there is an urgent need for raise of health tariff for insurance companies and at the same time hospital should reduce their cos t.http://www.myallagents.com/Medical-premium-rate-hike-on-cards-by-National-Insurance-Company/details.html 

Claim Process made easier by ICICI Lombard

ICICI Lombard, the largest private general insurance company in India has launched a one of its kind Mobile Application for customers. Mr. N Eswarnatarajan, head of Operations and Technology, ICICI Lombard General Insurance announced the launch of mobile application “Insure” that will help the customer to intimate the claim through a mobile.http://www.myallagents.com/Claim-Process-made-easier-by-ICICI-Lombard/details.htm