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MUMBAI: Health insurance policyholders are again witnessing sporadic cases of suspension of cashless hospitalization as hospitals and insurers spar over the issue of tariff rates for medical treatments. In a fresh incident, the Association of Healthcare Providers India (AHPI), a body of over 15000 hospitals, threatened to suspend cashless services for Star Health Insurance policyholders from September 22. In turn, the General Insurance Council (the association of non-life insurers) has asked AHP ...Read More >
New Delhi, Sep 14 (PTI) Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, is likely to be introduced in Parliament in the upcoming Winter session, Finance Minister Nirmala Sitharaman has said. The winter session of Parliament generally commences in the second half of November and concludes before Christmas. "I hope to", she told PTI when asked if the bill to further liberalise FDI in the insurance sector can be introduced in Parliament in the upcoming Winter se ...Read More >
New Delhi, Sep 14 (PTI) Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, is likely to be introduced in Parliament in the upcoming Winter session, Finance Minister Nirmala Sitharaman has said. The winter session of Parliament generally commences in the second half of November and concludes before Christmas. "I hope to", she told PTI when asked if the bill to further liberalise FDI in the insurance sector can be introduced in Parliament in the upcoming Winter se ...Read More >
In early trade today, several stocks experienced declines, with SBI leading the losses on the Nifty 50. At 09:30 am, SBI was trading at Rs 820.70, a 0.36% fall from its previous close. Other notable losers included SBI Life Insurance and Titan Company. SBI Life Insurance was trading at Rs 1,809.80, down by 0.24%. Titan Company was also down, trading at Rs 3,579.10, which represents a 0.14% decrease. Bajaj Finserv and TATA Cons. Prod experienced similar declines. Here's a detailed look into the ...Read More >
Mumbai, July 17, 2025 -- In a significant development, Jupiter Money, a leading Indian fintech platform, has received the IRDAI's nod for a Direct Insurance Broker license. This pivotal approval allows the platform to directly offer life and general insurance products, marking its strategic entry into the insurance market. This expansion follows previous regulatory milestones in 2023, where Jupiter Money acquired both an NBFC and PPI license, boosting its credit and prepaid offerings. With the ...Read More >
New Delhi [India], July 17 (ANI): The insurance industry in India is witnessing a slowdown, mainly due to the moderation in auto sales and a drop in corporate policy renewals, according to a recent research report by Nuvama. The report stated that the industry growth is expected to remain weak, largely driven by a slowdown in motor sales and lower corporate policy renewals. However, the impact of muted auto sales may be partially balanced by the recent hike in third-party (TP) premiums. The re ...Read More >
NEW DELHI: India plans to bring an existing health insurance claims portal under the finance ministry and insurance regulator to curb overcharging by healthcare providers, a government source told Reuters. Healthcare costs in India are projected to rise by 13 per cent in 2025, exceeding the global average of 10 per cent, and up from 12 per cent recorded a year earlier, according to professional services firm Aon's Global Medical Trend Rates Report. An analysis by the government and the Insuran ...Read More >
SHILLONG, July 2: A local court in Shillong on Wednesday remanded property dealer and co-accused Silome James in 14-day judicial custody. According to Assistant Public Prosecutor, Tushar Chanda, two others -- Lokendra Singh Tomar and Balbir Ahirwar -- were sent to judicial custody for 7 days. The SIT had arrested the three individuals from different parts of Madhya Pradesh on charges of aiding in the concealment of evidence related to the murder of Indore-based businessman Raja Raghuvanshi in ...Read More >
Pune: Insurance Regulatory and Development Authority of India (Irdai)'s whole-time member (life) Swaminathan Iyer on Wednesday said insurance firms needed to leverage data to convince the working population to make life insurance an important aspect of financial planning."There's growing awareness of life insurance, especially among millennials. However, emotions aren't enough, we need to use data to drive logic. With technology, we can leverage data and analytics to make our point, particularly ...Read More >
Nagpur: Congress Legislature Party leader Vijay Wadettiwar questioned the govt's priorities on Tuesday, highlighting the increasing number of farmer suicides in Maharashtra. He accused the govt of neglecting agrarian crisis while approving Rs20,000 crore for Shaktipeeth highway project."Money is available for massive infrastructure projects, but where is the budget for farm loan waivers as promised by the BJP before last year's assembly polls to the farmers?" Wadettiwar asked while moving an adj ...Read More >
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) has said that mis-selling in the life insurance sector is not at alarming levels, citing grievance data published in its annual report. Speaking at an industry event, Irdai member (Life) Swaminathan S Iyer said the number of mis-selling complaints are not alarming. They currently stand at around 0.41 per 100 policies. While it is not alarming, the regulator has consistently told the industry that the number must keep goi ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique an ...Read More >
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your ...Read More >
New Delhi [India], July 1 (ANI): The Appointments Committee of the Cabinet has approved a one-year extension for the leadership of the Financial Services Institutions Bureau (FSIB), extending their tenure until June 30, 2026. The decision affects the current chairperson and six part-time members of the FSIB, whose terms were set to expire on June 30, 2025. The extension will be effective from July 1, 2025, or until further notice, whichever comes earlier. Bhanu Pratap Sharma, former Secretary ...Read More >
New Delhi: Financially weak people are not able to get treatment in a good hospital. Due to a lack of money, the patient may even die. Amidst the increasing expenditure on healthcare, the government also provides various health facilities, which people also benefit from. Now, a special scheme has been launched for low-income people. The scheme aims to benefit the economically weak people. SBI General Insurance, one of the big banks of the country, has launched a great scheme in association with ...Read More >
Hyderabad: Chief Minister A Revanth Reddy on Thursday warned educational institutions that cases would be booked against them if drugs were found in their premises. The CM announced that the state's Anti-Narcotics Bureau would henceforth be known as Elite Action Group for Drug Law Enforcement (EAGLE) and was tasked with curbing the menace of narcotics in the state. Speaking at an event marking the International Day Against Drug Abuse and Illicit Trafficking 2025 at Shilpakala Vedika here, Redd ...Read More >
Mumbai : Several life insurers have approached the Insurance Regulatory and Development Authority of India (Irdai) seeking approval to invest in gold exchange-traded funds (ETFs), according to people familiar with the matter. The move comes amid increasing gold prices, growing global demand and a need for diversification as traditional asset classes deliver subdued returns. Gold ETFs have delivered returns of more than 30% over the past 12 months. In comparison, liquid debt funds, equity indice ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (Jun ...Read More >
Mumbai, ET Now: Health insurer Niva Bupa will revise premiums for its flagship product ReAssure 2.0 by an average of 7%, with the revised rates coming into effect from June 10, 2025, ET Now has learnt. The product, introduced in February 2023, has become a key contributor to the company's business, accounting for nearly 18% of the overall portfolio. As per information received by ET Now, the company has duly informed policyholders about the revision in accordance with guidelines laid down by the ...Read More >
Tax officials accuse it of paying agents excess brokerage * Many top India executives signed off on brokerage system NEW DELHI, Dec 13 (Reuters) - An Aviva business model that Indian tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows. Tax inspectors accuse the British insurer of engaging in a clandestine scheme involving hundreds of individuals ...Read More >
NEW DELHI (Reuters) - An Aviva business model that Indian tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows. Tax inspectors accuse the British insurer of engaging in a clandestine scheme involving hundreds of individuals and illegal payments of $26 million that used fake invoices to enable the commissions in excess of regulatory caps, Reuters has ...Read More >
Calls for opening up the insurance sector to higher foreign investment limit are getting louder, and necessary legislative steps in this regard could be taken during the ongoing Winter Session of Parliament. The foreign direct investment (FDI) limit in the insurance sector will likely be raised to 100% from 74%, CNBC-TV18 reported on November 26, citing sources who wished not to be identified. The channel also reported that insurance companies will possibly be allowed composite licences, with ...Read More >
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