Reinsurers have been surprised with the price drop on risk which...
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Sanjay Lohiya to succeed Nagaraju as new DFS Secretary
Sanjay Lohiya, special secretary, Department of Financial Services...
99.92% of Indian villages now have banking facilities within 5 kms radius
Pankaj Chaudhary, Minister of State in the Ministry of Finance...
Only 20% of women in India have adequate insurance,find out two insurers
Anand Roy, MD & CEO, Star Health said,“India is witnessing a meaningful shift in women’s approach to healthcare and financial protection.Younger women are engaging more in preventive care and integrating health insurance earlier into financial planning—viewing it...
India gets 30-day US waiver to buy Russian oil amid Iran war
"President Trump's energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase...
Missile fire hinders Middle East rescue flights as airspace edges open
While major carrier Emirates said on Friday it was targeting “a return to 100% of its network” in the coming days, EU aviation regulator EASA extended a warning about high risks until March 11. Emirati airlines resumed some flights to global cities from the war-hit...
India may secure US marine cover for vessels shipping oil from Middle East
U.S. President Donald Trump has ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf. New Delhi:India is in talks with the United States to secure marine cover for...
Commerce, shipping ministries hold consultation meeting amid West Asia tensions; Inter-Ministerial Group for supply chain resilience created
"In this context, the 'Inter-Ministerial Group (IMG) for Supply Chain Resilience' has been created, comprising members from Department of Financial Services, Ministry of External Affairs, Ministry of Shipping, Ports & Waterways, Ministry of Petroleum & Natural...
Middle East Crisis: Drone debris hit JSW Infrastructure tank at Fujairah terminal in UAE
There were no injuries, and all personnel at the terminal remain safe. The remaining fourteen tanks have been secured. Adequate insurance coverage for the facility is already in place. Mumbai:JSW Infrastructure has said that one of its storage tanks at the company’s...
Qatar declares force majeure, gas supplies to Indian industry cut amid Iranian strikes
The attacks have also effectively brought oil and LNG shipments through the Strait of Hormuz to a near halt, driving up global energy prices as well as sharply raising war-risk insurance and shipping costs. New Delhi:In a first such event, after Iran has attacked...
Indian Accounting Standards (Ind AS): IRDAI issues exposure draft,to implement new accounting system for industry from Apr 1
The proposed amendments aim to promote greater consistency, transparency and comparability in financial reporting across the insurance sector, in alignment with globally accepted standards,while preserving regulatory prudence and safeguarding policyholder interests...
SC fastens liability of paying penalty on employer for delay in depositing compensation
"The perusal of the statement of objects of the said legislation makes it crystal clear that the said legislation is a social welfare statute brought in by Parliament to redress the grievances of the employees in case of accidents that may occur in or during the...
War risk insurance premiums for ships likely to rise amid West Asia crisis: Re/insurance brokers
Vessels of the Shipping Corporation of India (SCI) are also involved in the movement of crude oil and LNG, especially through areas around the Red Sea, and would have to pay an additional premium for war cover to ensure risk cover. In aviation, hull war risk (HWR)...