Vol-III, Issue 3, June 2005 An update on Insurance  
 
          
  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.


  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.


  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.


  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.




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.


 Websites for Indian Insurance companies.





 
       
 
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