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Set time limit for settling claims

The growth of the general insurance industry suffers the absence of adequate insurance protection for many businesses. IRDAI can set up a mechanism to help settle quickly and fairly disputed claims of industries and businessmen. The general insurance premium income in India has been growing by leaps and bounds having touched

Now, LIC needs a Jeevan Suraksha policy

The life insurer appears to be the government’s preferred white knight. LIC is exposed to a massive chunk of the system’s bad assets. If this doesn’t make it a choice for Asset Reconstruction Company, what will? The spurt of controversial moves continues unabated. In a new tale, the country’s largest insurer,

Merge NIC and OIC with UII…

This second largest general insurance company has strong credentials to get the other two public sector GI companies merged with this. The 14-storey new building under construction is ready for this! Public sector General insurance companies have been bleeding due to continuing adverse claim ratios and intense competition resulting in rate

LIC stays unaffected by competition

With 10 per cent rise in premium in March, life insurance companies have ended the fiscal 2016-17 with 26 per cent growth in total premium at Rs. 175,022 crore compared with Rs.138,657 crore. LIC led the pack with 39 per cent against an industry average