February 3, 2014 |
Not
many households will feel the pinch if the breadwinner's income is cut
by 1%. If the income reduces by 10%, some of the expenses, especially
discretionary spending, might have to be curbed. If the cut is deeper,
say 25-30%, the family will have to reconsider many simple luxuries.
Now, imagine what will happen if his income drops by 100%? This is what a
family will have to endure if the breadwinner dies. Thankfully, you
need to spend only 1% of your income to ensure that the remaining 99%...
By 2050, there will be 324 million citizens over the age of 60 in India,
while 48 million of them will be over 80. While the government focuses
on supporting the youth, expecting them to contribute to the economy ,
there is very little support for those who already have. HelpAge India's
report on the State of Elderly in India 2014, released yesterday , is
meant to convince the government that this group needs attention and,
therefore, budgetary allocation. ...
NEWS
August 22, 2006 |
BANGALORE:
Should the patient have a normal delivery or a Caesarean? Should the
patient in the surgical ward have a surgical therapy or be given just
medicines? Who decides? The health insurance
companies. Hospitals say they are beginning to get instructions from the
insurance companies on treatment. But insurance
firms allege that hospitals push up treatment costs by around 20-25 %
when a patient walks in with a policy. If they have taken on a
regulatory role it is...
NEWS
March 7, 2013 |
NEW
DELHI: Irda today tweaked norms for insurance companies to invest
their funds in different market instruments like government securities
and corporate debt to channelise long term savings in infrastructure
sector. Life insurance companies can now be invested in central
government securities which should not be less than 25 per cent of the
total corpus, Insurance Regulatory Development Authority (Irda) said
in a notification. ...
NEWS
March 5, 2004 |
BANGALORE:
The 'I' IN the BFSI (banking, financial service and insurance) vertical
is forging ahead for domestic software service exporters. Global
insurance companies, until now laggards in technology spend and shy to
outsource, have stepped up their technology purchase and are more keen
to offshore IT needs. The story with insurance companies, like
their counterparts in the other industries is the same ? pressure to
reduce cost and retain customers. Regulatory pressure combined with...
NEWS
May 1, 2014 |
NEW
DELHI: Insurance companies have raised the premium for hydropower
plants across the country after last year's flash floods in
Uttarakhand that led to huge claims. Companies like National Insurance
Co Ltd , United India Insurance Co Ltd and Oriental Insurance
Co have raised premium rates multifold for hydroelectric projects,
sources said. Insurance companies have received huge damage claims
from hydropower companies like NHPC and Jaiprakash...
NEWS
January 26, 2011 |
2010
proved a watershed for life insurance companies and customers .
The new Ulip regulations that came into force in September 2010
changed the face of the life insurance business with customer centricity
and efficiency becoming the industry's new buzzwords. These will
continue to be the defining factors for developments in the realm during
the current year, but at a much accelerated pace. The
initial months after the regulations...
NEWS
February 18, 2015 |
LONDON:
British insurer RSA said it had sold its 26 per cent holding in
Indian insurer Royal Sundaram Alliance Insurance Company to its
joint venture partner Sundaram Finance . RSA said it expected to
receive 46 million pounds ($71 million) in cash for the stake and would
make a 16-million-pound profit on the sale, which it expected to
complete within six months. "This transaction continues the
excellent momentum of our disposal...
NEWS
February 13, 2015 |
MUMBAI:
ICICI Bank and Prudential Plc are looking to sell at least a 5%
stake in their insurance joint venture, ICICI Pru Life, to
financial investors such as private equity firms and sovereign wealth
funds, in anticipation of Parliament clearing the ordinance raising the
foreign investment cap in the sector to 49%. Morgan Stanley and
Bank of America Merrill Lynch (BofAML) have been mandated by ICICI
Prudential Life —...
NEWS
February 13, 2015 |
NEW
DELHI: ICICI Bank today said it is exploring avenues for monetising its
holding in ICICI Prudential Life Insurance but steered clear of
making a direct comment on any imminent deal. The company's
clarification comes in the backdrop of reports that ICICI Bank and
Prudential Plc are looking to sell at least a 5 per cent stake in their
insurance joint venture, ICICI Pru Life. "We would like to inform
you that no event or...
NEWS
February 5, 2015 |
NEW
DELHI: Infosys BPO today said it has secured an IT services deal
with Dutch insurance services firm a.s.r. for supporting back-office
operations. The BPO services arm of the Bangalore-based firm,
Infosys BPO, will supply back-office services for the a.s.r. labelled
pensions administration system from April 1, 2015, Infosys said in a
statement. Eighty seven employees of a.s.r. will be transferred to
Infosys BPO. The contract was signed at the end of...
NEWS
February 5, 2015 |
HYDERABAD:
Insurance companies have settled almost 90 per cent of over Rs 2,700
crore claims made after 'Hudhud' cyclone in Visakhapatnam last year,
a senior Insurance Regulatory and Development Authority of India
official said today. "Vizag (claims) is almost Rs 2,000 crore from
public sector units alone. Then private sector will have about Rs 600
crore. One single bulk claim was from steel plant. It should be around
Rs 600-700 crore. About 90 per cent of the...
