26 july 2001

irda mulls 2 policy-holders protection funds
new delhi— n rangachary, chairman, insurance regulatory and development authority (irda) said that guidelines for policy-holders' protection, including setting up of 2 separate funds for life and non-life sectors, and another for third party administrators in health insurance would be finalised within two months.
the insurance (amendment) act, allowing entry of brokers in insurance sector, is expected to be cleared in the monsoon session of parliament while a bill on actuary has been referred to the cabinet, rangachary said.

24 july 2001

bima nivesh will now give lower returns
mumbai—the single premium product and a new bima nivesh plan from the life insurance corporation will be in the market from tomorrow. under the new plan the guaranteed returns have been scaled down by 100 basis points.