Insurance Companies

PMC crisis shows depositors are sitting ducks if their bank goes bust; why shouldn’t savers get cover for full amount?

The deposit insurance guarantee scheme was set up in 1961 to ensure depositors are guaranteed at least some amount in the event of a bank collapse

DHFL's bondholders get three-week deadline to be on board with rescue plan evaluated by banks

DHFL has already submitted a resolution plan to its committee of core creditors, which is currently being evaluated,

Bankers worry DSP Mutual Funds' legal action will delay rescue of DHFL; other creditors may be pushed to take legal action

In July, DHFL said it was "undergoing substantial financial stress" and may not survive as a going concern

Infosys McCamish partners with Pan-American Life Insurance Group, to provide policy administration services

As part of the partnership, Infosys McCamish will provide policy administration services for PALIG's new global assets Indexed Universal Life (IUL) product,

Irdai asks insurance companies to share status of claims with policyholders from 1 July

Insurance companies will have to inform about claim settlement status to policyholders at various stages of processing from July, Irdai said on Wednesday

Quality of debate on economic issues has suffered, says Arun Jaitley at Moneycontrol Wealth Creator Awards

Addressing the inaugural edition of the Moneycontrol Wealth Creator Awards through a video link, Jaitley said, “digital platforms like Moneycontrol are serving a great national purpose by making debate, discussion and policy formulation, meaningful,” he said.

Madras HC says insurance firms not liable to pay compensation to people travelling by goods carriers

The Madras High Court Friday held that insurance companies cannot be made liable to pay compensation to accident victims who travel in goods carriers.

Central Vigilance Commission directs banks, insurance companies to rotate employees in sensitive posts to check frauds

The move assumes significance as many big-ticket frauds have been reported recently from the banks.

Kerala floods: PSU general insurers promise quick settlement of car, bike claims; set up camps across state

In the case of the Kerala floods, the loss will be higher under the motor insurance portfolio as the state has a sizeable number of costly vehicles.

IRDAI asks insurance firms to make provision to cover mental illness with immediate effect

IRDAI asks insurance firms to make provision to cover mental illness with immediate effect