Tag: india insurance news

Insurance news from India could mean caps on foreign insurers will be lifted

Julie Campbell
insurance industry report

This move could be made in the hopes that it will give the country’s economy a boost. Manmohan Singh, the Prime Minister of India, is making insurance news around the world, in his latest efforts to create the largest opening in the Indian economy has seen in ten years, as the cabinet considers proposals for lifting the foreign investment caps for insurers as well as in the pension industry. The country’s ministers will be considering a large new opportunity for overseas insurers. Should the measure pass, it would make tremendous…

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Latest India insurance news regarding Liberty Mutual joint venture

H. Cutner
International Insurance fund news

The Boston based insurer has received approval to begin selling its products. Liberty Mutual Insurance Group is making international insurance news now that it has received approval from India and is licensed to be able to sell its products within that country. The insurer has entered into a joint venture with Videocon Industries Ltd. This combined effort between Videocon Industries Ltd. and Liberty Mutual Insurance Group will be known as Liberty Videocon General Insurance Co. Ltd. It is now considered to be fully licensed from the primary regulatory authority in…

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India seeks alternatives to European maritime insurers as EU sanctions on Iran loom

S.Vagus

As the European Union prepares to impose sanctions on Iran and breaks its trade agreement with the nation, the maritime insurance industry is facing a bleak and complicated future. Insurers will not be the only ones to suffer from the move, however, as countries that depend on oil from the Middle East will also feel the impact of the action. Even countries that do not rely on Iranian oil are claiming that the EU’s actions will have a major effect on their economies. Such is the case in India, where…

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Indian Insurance Regulatory and Development Authority announces stricter sales site guidelines

Julie Campbell

The Insurance Regulatory and Development Authority (IRDA) in India has announced that it is issuing tighter guidelines for policy comparison sites that are also selling insurance products for multiple insurers through an affiliate relationship. Third party affiliate insurance comparison websites earn a commission from the associated insurance company every time they sell a product through their site. Until now, there have been neither any regulations as to the allowable size of the commission, nor any pre-requisites regarding the candidacy to enter into the business of an insurance affiliate website. The…

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