After months of intense focus on unit-linked insurance plans, which has resulted in a complete overhaul of norms, the insurance regulator is now looking at other areas. One area is the distribution of products. “Product efficiency alone will not contribute to a healthier market,” said Irda chairman J Harinarayan. He added that the regulator was [...]
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On Day one IRDA clears 51 unit-linked plans
Posted by admin on September 2nd, 2010
Two pension products also cleared on day one of the new Ulip regime. The Insurance Regulatory and Development Authority (IRDA) had approved a minimum of two products per company filed in accordance with new unit-linked insurance plans (Ulips) norms, IRDA Chairman J Hari Narayan said in a press conference. To comply with the new norms, [...]
Companies can soon donate more to political parties
Posted by khyati on September 2nd, 2010
A Parliamentary Standing Committee has recommended raising the limit of donations a company can make to the political parties in a year from 5 per cent to 7.5 per cent of the average net profits in three immediate past financial years. It said increase in the maximum percentage of contributions allowed was necessary “in view [...]
Advanced economies need long-term policy reforms to reduce public debt
Posted by khyati on September 2nd, 2010
Advanced economies must pursue long-term policy reforms to reduce public debt levels over the coming decades and ensure future fiscal sustainability, the International Monetary Fund has said. In order to protect the fragile economic recovery, support growth and job creation and provide reassurance to capital markets, fiscal adjustment plans must be clearly defined—but with a [...]
Govt to take up request for 8 new SEZ proposals
Posted by admin on September 1st, 2010
The government will take up eight fresh requests for setting up special economic zones, which have emerged as major sources of exports, on September 16. The inter-ministerial Board of Approval (BoA) on SEZs, headed by Commerce Secretary Rahul Khullar, will also consider framing a policy for setting up units for recycling of plastics in SEZs, [...]
Policyholders to benefit from new ULIP norms effective Sep 1
Posted by khyati on August 31st, 2010
For one, insurers will have to offer a minimum prescribed return. Starting policyholders will get a much fairer deal if they invest in unit-linked insurance plans (Ulips). The new rules of the Insurance Regulatory and Development Authority (Irda) take effect from September 1. Ulips, which contributed 80 per cent of the total premium collected by [...]
