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Industry News

India: Proposal to bar insurers from rejecting third-party cover.

March 23, 2015

The Indian insurance regulator has proposed that no insurer can refuse to underwrite third party insurance. The insurance Bill was…

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India: Landmark insurance law passed to raise foreign investment cap to 49%.

March 13, 2015

India’s Parliament has voted to increase the foreign investment limit in the insurance industry to 49% from 26%, in a…

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GDP at risk of inland floods to rise 10-fold to US$154 billion.

March 11, 2015

The economic output at risk of flooding in India, the world’s second most populous nation, may surge 10-fold by 2030…

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India: Operating rules for insurance marketing firms finalised.

March 6, 2015

The Insurance Regulatory and Development Authority of India (RDAI) also said that the insurance servicing activities of the insurance marketing…

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India: Insurance market to quadruple to about US$250 bln a year by 2025

March 3, 2015

India’s insurance sector is expected to quadruple to about US$250 billion over the next decade from around US$60 billion at…

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India: Govt considering cap on auto accident liability.

February 20, 2019

The central government is planning to set a limit on the liability arising from road accidents in a move that…

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India: Higher premium increases expected for 3rd-party auto insurance.

February 9, 2014

Vehicle owners are likely to have to pay higher premiums for third-party motor insurance from the next financial year which…

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India: Regulator looking at 60-day deadline to settle life claims.

January 26, 2015

India’s insurance regulator is looking to make it mandatory for companies to settle life insurance claims within 60 days, in…

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India: Private insurers shrinking networks in small towns

January 20, 2015

Private insurers are shutting their branch offices in small towns due to the lack of profits from these areas, leaving…

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India: Rules issued for banks to act as insurance brokers

January 19, 2015

Seeking to increase insurance penetration in the country, the central bank – Reserve Bank of India (RBI) – has issued…

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