Regulation

RBI to bring 'ombudsman scheme' to solve digital transaction complaints

Indian News       Dec 06, 2018

  Mumbai: The Reserve Bank will introduce an 'ombudsman scheme' to provide cost-free mechanism to redress grievances of customers related to digital transactions.   With the digital mode for financial transactions gaining traction in the country, there is an emerging need for a dedicated, cost-free and expeditious...

IRDAI proposes changes in registration norms for insurance marketing firms

Indian News       Dec 03, 2018

  Hyderabad: Regulator IRDAI Monday proposed to relax norms for registration of insurance marketing firms with an aim to improve penetration of insurance products in the country. Insurance marketing firms (IMFs) are registered by the Insurance Regulatory and Development Authority of India (IRDAI) to solicit or...

E&Y outbids BCG & Oliver Wyman to bag merger deal of 3 PSU general insurers

Indian News       Nov 29, 2018

  New Delhi: Ernst & Young(E&Y) has beaten two other prominenet consultants, Boston Consulting Group(BCG), and Oliver Wyman, a part of the Marsh & Mclenan Group, to bag the deal for preparing detailed strategies facilitating the proposed merger of three state owned general  insurers-National Insurance Company(NIC),...

India-born Canadian billionaire Prem Watsa 

IRDA rejects Prem Watsa’s deal to acquire Sudhir Valia’s ITI Reinsurance 

Indian News       Nov 29, 2018

  Hyderabad: The insurance regulator IRDAI has rejected the deal between Prem Watsa, India-born Canadian billionaire and Sudhir Valia, an associate of Sun Pharma’s Dilip Shanghvi, where the former was acquiring the whole of latter’s two-year old ITI Reinsurance.   The deal between the two were signed...

UK Companies Prepare for Disorderly Brexit and Supply Chain Disruptions

International News       Nov 22, 2018

  London: British companies selling everything from washing machines to flights, food and mortgages plan to spend tens of millions of pounds in case the political brinkmanship gripping the country leads to a disorderly Brexit.   With barely four months until the world’s fifth largest economy leaves...

Global accounting body proposes one-year delay to insurance rule

International News       Nov 15, 2018

  LONDON : A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money, after the industry said it needed more time to prepare for such a sweeping change.   A spokeswoman for the...

After Google, Facebook scraps forced arbitration in sexual harassment cases

International News       Nov 10, 2018

  New York: Facebook said on Friday that it would no longer force employees to settle sexual harassment claims in private arbitration, making it the latest technology company to do away with a practice that critics say has stacked the deck against victims of harassment.   Facebook...

Insurtech:Number of insurance patents filed jumps 40% in a year

International News       Nov 09, 2018

  Investment in insurtech is being stepped up, as the number of insurance-related patents filed worldwide jumped 40% last year, to 917 in 2017 (to Dec 31) from 657* in 2016.   RPC adds that insurance patent filings per annum have jumped by 116% over 5 years...

India jumps 23 places to 77th in ease of doing business ranking

Indian News       Oct 31, 2018

  New Delhi: India has jumped 23 places in the World Bank ease of doing business ranking  for 2018.  It was at 100th place last year and now it is at 77th rank. India is now recognised as among top ten improvers for the 2nd consecutive...

Finance Minister Arun Jaitley

An evolving economy needs dynamic regulation, says Arun Jaitley

Indian News       Oct 27, 2018

  New Delhi: Finance Minister Arun Jaitley Saturday said as an economy evolves, regulation needs to be relaxed or altered keeping in the mind the ground situation.Speaking at an IDFC event here, he said governments increasingly get opportunities to interact with various stakeholders. For any regulatory...

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