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Life Insurance Council Likely To Get Autonomy The insurance industry regulator IRDA has promised self regulatory powers for the Life Insurance Council- an industry association of life companies. As a first step, the council will be asked to tackle the issue of rebates by insurance agents and that of improving the quality of agent training and agent examination.
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Private Non- life Companies doing well Around six private general insurance companies Bajaj Allianz General Insurance Company, ICICI Lombard General, Tata AIG General, Iffco-Tokio General, Royal Sundaram Alliance and Reliance General out of eight are known to have posted net profit in the fourth year of setting up business.
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Third party cover for 15 years Two wheeler owners will have to compulsorily purchase third party cover for a period of around 15 years with a discount of 30 percent thrown in to make it attractive.
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IRDA to issue new ULIP guidelines IRDA is working on a fresh set of guidelines for Unit Linked Insurance Plans, so that there is a certain amount of transparencies in ULIPSs and some of the loopholes are plugged.
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Insurance Regulatory & Development Authority Act 1999 with Insurance Act
This book would be useful to anyone interested in the insurance sector, more so, because the Indian Insurance Industry has been much talked-about lately.
by: Taxmann Allied Services (P) Ltd.
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| | Websites for Indian Insurance companies.
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