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GIPSA to meet with firms shortlisted for joint venture partner on Monday; association of TPAs insists regulatory nod for TPA licence in doubt Public sector insurers are close to deciding on a joint venture (JV) partner to set up their own third party administrator (TPA) entity, even as the...

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Moneylife Digital Team 08 April 2011
Education loans through banks have grown by 20% in the past couple of years. That’s the fastest ever, and banks want to push that further to 30%-40% going ahead The season of college admissions has begun and banks are gearing up to facilitate maximum education loans to students. Going...

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Moneylife Digital Team 07 April 2011
Finally, IRDA wants greater disclosure on these IRDA (the Insurance Regulatory and Development Authority) is seeking greater disclosure for highest NAV (net asset value) products from insurers.   The specific data the regulator has asked for includes the name of the products, fund size,...

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N Madhavan 07 April 2011
Builders are offering to pay for pre-EMIs. But is this worthwhile for you? Experts believe that real-estate prices have escalated so sharply within such a short period that pressure for a correction is increasing. There is a counter view that builders will not lower prices as input...

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Moneylife Digital Team 07 April 2011
A Rs5-lakh fine for violating guidelines on licensing of corporate agents IRDA has levied a penalty of Rs5 lakh on Cholamandalam General Insurance for violating the provisions of various regulations, guidelines and circulars. This penalty has been slapped on the insurer due to the violation...

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Moneylife Digital Team 07 April 2011
Third-party car insurance pool is too small Motor insurance cover has two components: own damage and third-party insurance. While premium rates for own-damage cover were de-tariffed by the insurance regulator in 2007, IRDA still regulates third-party premium rates. In case of third-party...

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Moneylife Digital Team 07 April 2011
Highest NAV plus entry at the lowest NAV of the year Birla Sun Life has launched an innovative unit-linked insurance plan (ULIP). It is a combination of the highest NAV (net asset value) concept along with entry at the lowest NAV of that year. The highest NAV is recorded on any day in seven...

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Moneylife Digital team 07 April 2011
Insurance becomes pointless if your claim is rejected Buying an insurance policy is easy. There are dozens of agents who will sell one to you. The key test of an insurance policy is whether you can get your claims settled. This is captured by ‘claims settlement ratio’, that is, the number of...

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Moneylife Digital Team 06 April 2011
Third-party car insurance pool is too small Motor insurance cover has two components: own damage and third-party insurance. While premium rates for own-damage cover were de-tariffed by the insurance regulator in 2007, IRDA still regulates third-party premium rates. In case of third-party...

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Moneylife Digital Team 05 April 2011
A Rs5-lakh fine for violating guidelines on licensing of corporate agents IRDA has levied a penalty of Rs5 lakh on Cholamandalam General Insurance for violating the provisions of various regulations, guidelines and circulars. This penalty has been slapped on the insurer due to the violation...

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Moneylife Digital Team 04 April 2011
Finally, IRDA wants greater disclosure on these products IRDA (the Insurance Regulatory and Development Authority) is seeking greater disclosure for highest NAV (net asset value) products from insurers.   The specific data the regulator has asked for includes the name of the products, fund...

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IDBI Federal Wealthsurance Premier ULIP is for high net-worth individuals (HNIs). The minimum premium is Rs5 lakh, but the charges are lower than other ULIPs    IDBI Federal Wealthsurance Premier ULIP is a single premium ULIP, with a wide array of investment funds and protection benefits...

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Moneylife Digital Team 24 March 2011
A traditional plan with modest returns Bajaj Allianz has launched ‘CashRich’, following the trend of insurance companies launching new traditional plans after unit-linked insurance plans (ULIPs) started becoming less attractive for insurance companies. The product is targeted at conservative...

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Moneylife Digital Team 24 March 2011
The committee, chaired by M Damodaran, has prepared the report. But members of the panel (a few top banking luminaries are on its board) are not aware of when the report will be finalised and whether there are any changes. Mr Damodaran, however, says that he is in the process of redrafting the...

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Moneylife Digital Team 24 March 2011
Choices to lure different customer segments Bharti AXA has launched three new traditional plans—‘Aajeevan Anand’, ‘Future Champs’ and ‘Family Income Secure’. The plans focus on systematic savings of the policyholder to accumulate a corpus that is paid back periodically for specific needs...

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Moneylife Digital Team 24 March 2011
New plan based on  an old concept The Life Insurance Corporation of India (LIC) has launched ‘Samridhi Plus’—the highest net asset value (NAV) ULIP to attract the conservative investor, well-timed with a launch in February because the three months—January, February and March are the critical...

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Medical portability will force insurers to improve their service levels to avoid losing customers. But will this work for customers with a higher risk profile? In a huge relief to dissatisfied health insurance policyholders, the insurance regulator, Insurance Regulatory and Development...

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Moneylife Digital Team 23 March 2011
Tata Indicom has launched Tata Photon Plus mobile broadband service in Orissa Tata Indicom has launched Tata Photon Plus mobile broadband service in Orissa. The service was inaugurated by Asis Bhatia, chief operating officer of Tata Indicom by lighting a ceremonial lamp. Giving details of...

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Moneylife Digital Team 23 March 2011
The insurer has been running a high-pitched ad campaign cajoling the ‘masses’ to buy more insurance. But a look at their official ‘claims settled’ and ‘claims repudiated’ ratios indicate that the insurer’s policy payouts have a lot of scope for improvement  Aegon Religare has had a...

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IndiaFirst is differentiating itself with technology initiatives, that promise to offer a ‘virtual IndiaFirst’ to customers. It is going beyond the usual policy purchase and renewal online buying process offered by other insurers IndiaFirst was the last company to enter the life-insurance...

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