MetLife India Insurance Company Limited (MetLife) has announced the launch of its new unit-linked Child plan – “Met Smart Child”. This plan offers a “complete solution for children’s higher education, even in the absence of parents”. This is the second such scheme in MetLife’s portfolio, after Met Bhavishya. Under Smart Child, the fund is locked [...]
Max New York Life Insurance has awarded 1,022 students with the 2nd igenius Scholarships 2011, a unique parent-child engagement initiative that recognises excellence among school goers and promotes their all-round development. In the senior category, Aastha Agarwal from Nasik and in the junior category, Vaania Kapoor of Bangalore, have been awarded the scholarships of Rs10 [...]
No fewer than 188 companies including large corporations such as Britannia, Ernst & Young, Hyundai, Samsung, Wipro, Titan, KPMG, Kotak Group, Dell and Johnson & Johnson, have reduced medical cover for employees’ parents and set limits on hospital room charges. These companies, who between them have 5.49 lakh employees on their payrolls, have also introduced [...]
Individual wealth of Indians zoomed by over 18 per cent – compared with a mere 9.7 per cent for global high networth individuals (HNIs) – to Rs 86.5 lakh crore in fiscal 2010-11, says a report. According to financial services provider Karvy, individual wealth is projected to nearly triple to Rs 249 lakh crore by [...]
Insurance Regulatory and Development Authority (IRDA) has said unhealthy marketing practices such as massive discounts offered by General insurance companies, could lead to financial trouble for the companies. After the deregulation of rates, “the premium has come down to a level where questions arise about the health of the companies. If that trend continues, then [...]
Insurance Regulatory and Development Authority (IRDA) has said corporate agents of General insurance companies would also come under the guidelines for the minimum business requirements for other agents. “The Minimum Business Requirements (MBR) provision is now being extended to all corporate agents engaged with General insurance companies for soliciting business,” the regulator said in a [...]
A panel of the Indian parliament has rejected a proposal to raise the ceiling on foreign investment in insurance, which could hinder plans of various companies to enter the nation’s $41 billion insurance market. “In the present global economic scenario, any further hike in foreign direct investment at this juncture may not be in the [...]
In order to ensure adequate training and testing of agents selling insurance products, Insurance Regulatory and Development Authority has made available more than 220 online examination centres all over India. From now on, NSE-IT, on behalf of Insurance Institute of India, will be conducting all examinations for Life insurance agents under a new syllabus which [...]
Mr Anand A. Jathan, RFC, CertCII, of Mumbai, is the 2011–2012 Divisional Vice-President (DVP) of Best Practices of the Million Dollar Round Table (MDRT). In this role, he will be part of MDRT’s management council, the organisation’s governing body, a media release from Park Ridge, US, said. Jathan is a 15-year member of the Round [...]
With directors of the Kolkata-based AMRI Hospital in jail on charges of culpable homicide not amounting to murder, following a fire in the hospital that killed close to a hundred people, ‘liability cover’ looks like being a buzzword soon with such vulnerable senior corporate executives and, of course, insurance companies. With the Companies Bill 2011, [...]
