The insurance regulator has decided to digitise its entire product approval process — for both life and general insurance products — by the end of year, in sync with Modi government’s Digital India initiative. (ET)
The government is exploring a new insurance scheme for farmers that could cover their income, livestock and other assets, in addition to crop insurance, according to international reinsurance major Swiss Re. (ET)
Life insurance companies have selected Experian, a global data analytics company, to build a data repository and a fraud monitoring framework while Insurance Regulatory & Development Authorities of India’s plan to build one for general insurance seems to have taken a back seat. (ET)
Aster Medcity in association with the Cheranalloor Panchayath will provide free health insurance to 2500 BPL families in the panchayath.
The inauguration of the project and the distribution of the health insurance cards will be done by Home Minister Ramesh Chennithala at the Cheranalloor grama panchayath auditorium on Thursday. (newindianexpress.com)
Swiss Re, a leading re-insurance company, feels that agriculture insurance in India is largely untapped and the premium from this category has a potential to touch $1 billion in 3-5 years.
To further expand its footprint in India, the company has tied up with the Maharashtra government to provide crop insurance to farmers. (FE)
The government extended the insurance date for non-loanee farmers till September 15 to insure kharif crops under NAIS, a move expected to benefit farmers who delayed sowing due to poor rains. (FC)
ICICI Lombard ties-up with Catholic Syrian Bank to offer general insurance solutions across customer segments.
A U.S. financial services trade group has urged industry regulators to reject additional capital requirements for big insurance firms, as proposed by the International Association of Insurance Supervisors. (reuters.com)
Universal Insurance Holdings, Inc. announced that its Board of Directors authorized a share repurchase program under which the Company may repurchase up to $10 million of its outstanding shares of common stock through December 31, 2016. (prnewswire.com)