Non-life premium growth across the region slowed to 5.1% from 7% in...
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WTW ordered to pay Rs3.67 cr to former employee in whistleblower retaliation case
The award includes ₹3,67,97,082 in special damages and ₹10 lakh for...
Global insured Nat CAT losses fall to lowest 9-month level since 2019: Gallagher Re Report
Q3 also marked the sixth consecutive quarter without an individual...
APAC medical cost growth projected to slow to 9.7% in 2027, Aon Report
The projected medical trend rate remains substantially above the forecast for APAC general inflation rate of 2.5%. After accounting for inflation, the net medical trend rate is expected to decline from 8.9% in 2026 to 7.2% in 2027. The decline in the regional trend...
RBI backs IRDAI on distribution reforms
“It is primarily, I think, to consumer interest, to reduce costs and also at the same time to prevent mis-selling,” said RBI Governor Sanjay Malhotra . Mumbai: RBI Governor Sanjay Malhotra has insurance regulator IRDAI's proposed distribution reforms, saying the...
IRDAI’s distribution reforms faces pushback from brokers, auto dealers
Brokers are seeking an extension of a deadline for consultation on the proposals to late December from October 25, an independent impact assessment, as well as the removal of caps on commission. The proposals could lower broker revenues by nearly 70%, IBAI President...
IRDAI to meet industry CEOs on Monday to delibarate new distribution reforms
“ “I have been meeting CEOs of the industry over the last few days to understand their views on the new consultation paper. We will meet all the CEOs on Monday to discuss the implementation of the distribution reforms and would like to get detailed industry feedback...
Aon makes two leadership appointments for Japan Global Solutions
Global re/insurance broker Aon plc announced two leadership appointments for Japan Global Solutions, reinforcing the firm’s commitment to helping Japanese multinational clients address complex business, risk and people challenges through integrated global capabilities...
IRDAI’s proposed distribution reforms will hurt policyholders, cost jobs and slow insurance growth, says IBAI
The association urges the IRDAI to preserve the 2023 framework, publish an impact assessment and target genuine mis-selling instead of imposing blanket commission caps Mumbai: The Insurance Brokers Association of India (IBAI), the official apex body of India's 798...
Insurance brokers body to engage IRDAI soon over proposed distribution reforms
L-to-R- Functionaries of Insurance Brokers Association of India- Rashmi Iyer, director,Nirmal Bazaz, secretary, Narendra Bharindwal, president- at the AGM of the association in Mumbai on Saturday “We are carefully reviewing the consultation paper to fully understand...
IRDAI plans sweeping reset of insurance distribution, say experts
“The changes would directly affect automobile dealers, OEM-linked brokers, insurers and other motor insurance distributors quite drastically. By reducing upfront earnings from new-vehicle policies and tightening dealer-linked arrangements, the proposals could further...
Marsh launches Broker WorkBench: AI-powered platform to reduce placement times for specialty risk
“This new platform will enhance the value of the broker-client relationship by equipping our brokers with data-driven insights and greater efficiency. This gives them more time to deliver tailored insurance solutions that reduce our clients’ total cost of risk,...
LICHFL becomes a corporate agent of Niva Bupa Health Insurance
Niva Bupa Health Insurance has signed a corporate agency agreement with LICHFL Financial Services to expand access to comprehensive health insurance solutions.Prakash Kumar Sinha, CEO, LICHFL Financial Services, said, “This partnership brings together our network and...