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Bima Vistaar: IRDAI unveils premium for its mass combo cover at Rs 1500, for family at Rs 2420

Debasish Panda, chairman,IRDAI Bima Vistaar will have a combined features of Life, Health, Personal accident and Property. For Life cover a premium of Rs 820 has to be paid while Health, Personal accident, Property have been priced at Rs 500, Rs 100 and Rs 80...

Russia reinsurer backs firms to get India marine insurance permit

Russian companies Sogaz Insurance, Alfastrakhovanie, and VSK Insurance, have joined Ingosstrakh as insurers approved by India for providing marine insurance cover, an order posted on Indian shipping regulator's website showed "With the backing of the Russian National...

Insurers could face record losses of up to $4 bln after Baltimore bridge tragedy, AXA is lead reinsurer

Claims could total up to $4 bln, record for shipping disasterInsurance lines affected include property, marine, liabilityInternational Group of P&I marine insurers have reinsurance cover of $3.1 blnAXA lead reinsurer on first layer of IG reinsurance...

Bajaj Finserv acquires Vidal Health Insurance TPA

Vidal Health Insurance TPA Pvt Ltd (VHITPA), services premium of over Rs 5,000 crore, covering 130 million lives. The acquisition now enables Bajaj Finserv Health, a subsidiary of Bajaj Finserv of to offer OPD, wellness, as well as hospitalization benefits to...

Howden launches first-of-its-kind carbon capture and storage insurance facility

The insurance facility, designed by Howden and led by SCOR’s syndicate at Lloyd’s, provides cover for environmental damage and loss of revenue arising from the sudden or gradual leakage of CO2 from CCS projects into the air, land and water London: Howden today...

After NCLT snub, Torrent Investment once again knocks SC’s doors

In a fresh Letter of Urgency, Torrent Investment has stated that during the pendency of its appeals before the SC, the Committee of Creditors (COC) of Reliance Capital have not only conducted the second round of auction, but approved the resolution plan of IIHL and...

IRDAI lowers capital of FRBs to Rs 50 cr from Rs100 cr, order of preference streamlined to 4 levels from 6

This comprehensive regulatory overhaul is strategically designed to position India as a prominent global reinsurance hub. The revised Order of Preference for International Financial Services Centre Insurance Offices (IIOs), coupled with simplified regulations and...

Montana judge hands historic win to young plaintiffs in climate change case

The decision by Judge Kathy Seeley in Helena marked a major victory in the first youth-led climate case to reach trial in the U.S. and could set an important precedent for similar cases nationwide Montana is violating the rights of young people with policies that...

Lloyd’s of London leads insurers tightening Taiwan cover as conflict risks rise

“Availability of cover for Taiwan has got tighter,” said Crispin Hodges, head of trade and political risk with insurer Canopius, “We’ve been tightening up the wording to ensure that the policies reflect the underlying risk that we want to insure and there aren’t any...

WHO flags contaminated India-made syrup in Iraq

The United Nations agency in its medical products alert said the batch of the syrup, branded Cold Out, had higher than acceptable limit of contaminants diethylene glycol and ethylene glycol The World Health Organization on Monday flagged a batch of contaminated common...

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Insurance Awareness Day: Industry Leaders Lay Out Action Plans

The journey towards widespread insurance coverage begins with informed individuals and families. India's insurance penetration rate for 2023-24 is anticipated to be 3.8%, with life insurance penetration expected to be 2.9%. These figures underscore the pressing need...

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Tackling Air Turbulence: Cabin Crew’s new lessons

"While variations in climate can cause variations in Clear Air Turbulence (CAT), a robust increase in CAT over decades is very likely to be because of climate change," Manoj Joshi, a Professor of Climate Dynamics at the University of East Anglia, UK, said New Delhi:...

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