Star Health Insurance Takes Action Following Data Breach, Strengthens Security Measures

Standalone health insurer Star Health Insurance Ltd has implemented multiple security measures following a recent data breach, which compromised the…

IRDAI Urges Insurers to Diversify Distribution Channels Beyond Parent Banks

The Insurance Regulatory and Development Authority of India (IRDAI) has called on insurance companies to diversify their distribution channels, urging…

Reliance Nippon Life Insurance in Talks with IndusInd Bank for Bancassurance Partnership

Reliance Nippon Life Insurance, a subsidiary of the struggling Reliance Capital (RCAP), has initiated discussions with IndusInd Bank for a…

Oriental Insurance Faces ₹194 Crore Loss Due to Incorrect Bidding Rates for PMFBY

State-owned Oriental Insurance Company Ltd incurred a loss of ₹194 crore during the FY20 due to errors in determining the…

SMFG India Credit and Grihashakti Recognized Among Top 50 Companies with Great Managers

SMFG India Credit and SMFG Grihashakti have been recognized among the top 50 companies with outstanding managers for 2024, marking…

Insurance Commission Expenses Surge in FY24 Following IRDAI’s Decision to Remove Caps

Mumbai: The insurance industry experienced a significant rise in commission expenses during the 2023-24 financial year after the sector regulator,…

Health Insurance Companies in India Pay Out 71.3% of Claims in 2023-24

Health insurance companies in India paid out 71.3% of the ₹1.2 lakh crore worth of claims filed during the 2023-24…

Amit Ganorkar Appointed CEO and MD of TATA AIG General Insurance

TATA AIG General Insurance Company has announced the appointment of Amit Ganorkar as its new Chief Executive Officer (CEO) and…

Life Insurance Sector Reports ₹20,062 Crore in Unclaimed Funds IRDAI Annual Report

The life insurance industry in India has reported unclaimed funds amounting to ₹20,062 crore as of March 2024, according to…

Rising Health Insurance Claim Rejections in India Survey Reveals Major Concerns for Policyholders

Health insurance claim rejections have become a growing concern for policyholders in India, with a recent survey by LocalCircles shedding…