Regulation

Five in the race to become Secretary of GI Council

Indian News       May 27, 2019

  Mumbai: The General  Insurance Council(GI Council), the official representative body of the Rs 1.7 trillion general insurance industry, will select a new secretary general on May 29. The insurance professionals who have been shortlisted for the interview to be conducted on May 29 are:MN Sharma,former...

Khuntia Panel focuses on insurance penetration and natural disaster for action plans

Indian News       May 27, 2019

  New Delhi:  The top level panel headed by Subhash Khuntia, chairman, IRDAI to bring about large scale reforms in the Indian insurance industry, has preferred to focus on some of the pressing issues like insurance penetration and natural disaster in its inaugural meeting.    After being...

Facebook reported agreeing to 20-yr Pact on Privacy Oversight by US Govt

International News       May 20, 2019

The social media giant Facebook Inc. is headed toward an agreement with the U.S. government over its privacy policies and practices that would put it under 20 years of oversight, according to a source knowledgeable about the discussions.   The agreement would resolve a probe of...

Airlines urge Nations’ Regulators to avoid competing Safety Rules

International News       May 20, 2019

  Paris:  Global airlines urged regulators on Friday not to compete over setting new safety rules, after two crashes led to the grounding of the Boeing 737 MAX and raised questions about the international influence of the U.S. aviation authority.   The U.S. Federal Aviation Administration (FAA)...

IRDAI unveils norms on exclusions in health covers, new products from 1st April, 2020

Indian News       May 16, 2019

  Hyderabad: In a bid to rationalise and standardise the exclusions in health Insurance covers IRDAI on Thursday has proposed  a new set of norms for all the health insurance products excluding personal accident, domestic and overseas travel policies. All existing health insurance products that are...

Cyber Insurance growth slows down in US, records reaching $2 Billion in 2018, Fitch

International News       May 15, 2019

  The US industry’s total direct written cyber premiums grew 8% in 2018 to $2 billion, down from 37% growth in 2017. The country is by far the largest market in the world for cyber coverage.   The cyber insurance market remains a source of growth for...

Lloyd's of London seeks behavior crackdown with culture Survey

International News       May 13, 2019

  London: Lloyd’s of London has commissioned an independent culture survey following a Bloomberg Businessweek article that uncovered evidence of sexual misconduct in the world’s oldest insurance market.   The survey is being carried out by the Banking Standards Board, a not-for-profit organization that aims to raise...

Finally, IRDA cancels license of ITI Reinsurance

Indian News       May 09, 2019

  Hydearabad: The insurnace regulator IRDAI has finally cancelled the license of the sole Indian private sector resurer ITI Reinsurance Limited, set up by Sudhir Valia,one of the promoters Sun Pharma, for failing to do to any business.   Though the company had received its license on...

Subhash Khuntia,Chairman,IRDAI

IRDAI to unveil Risk Based Capital & Supervision soon:Khuntia

Indian News       May 03, 2019

  Mumbai: IRDAI Chairman, Subhash Chandra Khuntia has  announced three initiatives that the insurance regulator will be setting-up soon.They include (i) establishment of a risk-based capital system: a self-regulating mechanism where those who manage risk better will be allowed to operate with lower capital; (ii) risk-based...

Alphabet’s wing is first commercial Drone Unit certified as Airline

International News       Apr 24, 2019

  An offshoot of Alphabet Inc.’s Google has become the first drone operator to receive government approval as an airline, an important step that gives it the legal authority to begin dropping products to actual customers.   The subsidiary, Wing Aviation LLC, now has the same certifications...

1 2 3 4