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MISSELLING INSURANCE PRODUCTS
Insurance CEOs’ pay now linked to claims and customer grievances: What it means for policyholdersInsurance CEOs’ remuneration will now partly depend on how well they treat policyholders, from settling claims to resolving complaints. A t...- Belgian insurer Ageas eyes India growth, explores acquisitions for expansionBelgium's Ageas Group is prioritizing India's growth, aiming to break into the top 10 insurers in both life and non-life segments. The comp...
- Pick your own health cover: How custom plans work and their hidden downsidesA health plan consists of a base plan and riders or add-ons. Earlier, the base plan comprised fixed features that could not be changed, and...
- “Misselling isn’t just about commissions”: Bandhan Life CEO on insurance reality checkSatishwar B., MD and CEO, Bandhan Life Insurance, discusses the Public Insurance Registry, Bima Sugam, misselling and commissions, in a con...
- Insurance sale at parent banks worries regulatorIRDAI is considering regulations to curb insurers' reliance on parent banks for bancassurance sales, often exceeding 90%. This follows conc...
- Sell more, earn more! RBI's Shaktikanta Das cautions banks about big risksThe Reserve Bank of India Governor cautioned banks about misselling practices. He stressed the importance of ethical conduct for the bankin...
- Economic Survey flags misselling, claims issue in insurance sectorWhile referring to financial products misselling, the survey said that misselling and misrepresentation need acknowledgment, with firms com...
- IRDAI to enhance scrutiny of health & savings plans aimed at individuals over 55 to curb missellingThe insurance regulator is looking to tighten scrutiny and enhance transparency to prevent misselling of complex insurance products targeti...
- Bank assurance sought to curb misselling of insurance productsSome of the measures being considered may include a cap on commission charges paid to banks for selling insurance products, stricter disclo...
- What to do if you are mis-sold a financial productBanks continue to mis-sell financial products basis their own commissions rather than the customer's needs. One can take these steps in cas...
- Banks now liable for mis-selling insurance: Here is how to complain to banking ombudsmanRBI has widened the scope of Banking Ombudsman, to include deficiencies arising out of selling third-party products such as insurance by th...
- Ulips will continue to have a place among consumers: Sumit Rai, Edelweiss Tokio Life Insurance"Guaranteed products can be simplified because these are easier to explain. The challenge will be whether this can be done without anybody’...
- RBI to ensure banks do not mis-sell insurance productsSince banks have a huge network of branches, insurance companies have tied up with them to sell their products.
- Plug loophole leading to misselling of insurance products or else face penalty: RBI to banksAt present, BCSBI -- a quasi-regulatory body -- has set a limit of Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce...
- Reserve Bank India caps customer liability in fraudulent dealsBCSBI —a quasi-re Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce transactions, provided the customer has notified...
- Retail investors to return when consumer interest protected: Assocham-Brickwork RatingsSafeguarding the interest of consumers of financial products by strengthening regulations is imperative in bringing back retail investors t...
- Ulips set for a 'golden harvest'Fee ban, cut in Ulip charges favour insurers. Over 190 Ulip schemes launched to attract retail investments.
- Amfi bars 4 MF agents for missellingThe Association of Mutual Funds of India (Amfi), an industry body representing fund houses, has directed its members not to deal with four ...
- Lip service bad for Ulips, says Irda chiefIrda chairman J Hari Narayan said misselling of Ulips continues to be an issue, though there has been a marginal drop in the number of comp...
- Ulip sale: IRDA audit sees insurers in tune with normsFollowing concerns raised in several quarters on misselling by agents and companies, it has undertaken a special audit of over half a dozen...
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