Tag «IRDA»

Penetration of Life Insurance Coverage Goes Up

The penetration of life insurance sector in India has increased from 2.15% in 2001 to 3.17% in 2012 which is above Brazil, Russia, Malaysia, Pakistan, China, Srilanka, Australia, Germany but below France, Switzerland, United Kingdom, United States of America, Japan, Singapore, South Korea, Taiwan and Hong Kong. As per information furnished by Insurance Regulatory and …

Mis-Selling of Insurance Products and Unfair Business Practices of Insurance Companies; Implementing the Integrated Grievance Management System (IGMS)

The Insurance Regulatory and Development Authority (IRDA) has informed that following initiatives have been put in place to educate the consumers against mis-selling of insurance products and unfair business practices of Insurance Companies:- Publicity in English, Hindi and various Indian languages via mass media such as Television, Radio, Print and Internet and other channels such …

LIC the Government’s milch cow – Dheer Kothari

For a cash-strapped government struggling to keep the ballooning fiscal deficit within prudent limits, the easy way out when nothing else is working in its favour is to flog the thoroughbreds in the PSU stable. The Life Insurance Corporation of India is a dependable milch cow. To enable the LIC to participate in the disinvestment …