Tag: indian insurance news

Insurance news from India includes massive security risk

Julie Campbell
Insurance News

Companies are facing backlash from fired employees who took sensitive data with them when they left. A massive struggle in India is making insurance news, as Indian insurers discover that employees whom they fired are using sensitive information that they brought with them in order to create a kind of guerilla backlash. A number of insurers have now alerted the country’s regulator to inform it of this situation. What this insurance news has revealed is that fired workers walked away with the data associated with thousands of policies, and that…

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Insurance fraud by fake agents targeted by firms

Disability Insurance Fraud

The industry in India is fed up with the number of pretenders who are giving legitimate companies a bad name. One of the most frustrating struggles faced by firms in India is the insurance fraud occurring as a result of fake agents pretending that they are selling real policies to unsuspecting consumers. The industry is now fighting back by becoming very active in battling this issue alongside the authorities. The Insurance Regulatory and Development Authority (IRDA) has been issuing occasional recommendations regarding what can be done to help to battle…

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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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