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Los Angeles wildfire economic loss estimates top $50 bln
J.P. Morgan believes that insured losses originating from the...
LIC’s Bima Sakhi Yojana records over 50,000 registrations within one month of launch
LIC Managing Director and Chief Executive Officer Siddhartha...
IRDAI allows distribution of all micro-insurance products via PoS
Agreeing to the suggestions of insurance companies, IRDAI in a circular has done away with the practice of pre-fixing the word ‘PoS’ on life, general and health products sold through PoS. The regulator said it has received representations from insurance companies requesting to do away with the prefix ‘POS’ in the product name.
Social media platforms account for 79% of e-commerce in India: PayPal
“Facebook, WhatsApp and Facebook Messenger are used most by merchants in India, than anywhere across Asia (excluding China),” said the report named “Beyond Networking: Social Commerce as a Driver of Digital Payments”.
Hero Insurance Broking receives license from IRDAI
Hero currently offers its general insurance services to the manufacturing, hospitality, education, health, travel and aviation sectors, in addition to the entire automobile segment. It recently entered the life insurance segment, and is now aggressively looking at expanding its footprint in the health insurance space.
Marsh & McLennan to buy UK broker JLT for $5.7 billion
“ The complementary fit between our companies creates a platform to deliver exceptional service to clients and opportunities for our colleagues. ” said Dan Glaser, President and Chief Executive Officer of MMC.
Both the re/insurnace brokers have operations in India in the form of joint ventures. JLT hold 49 per cent in the local venture while Marsh, has stakes of 26 per cent in the Indian company. Marsh is the largest re/insurer broker in India.
“JLT Independent has premium placements exceeding Rs 1000 cr in a span of three years’’
Employee Benefit insurance market in India for India placed programs will be around Rs 20,000 cr.Group Health will be the largest segment in EB followed by Group Personal Accident and Group Term Life.Increasing number of corporates are buying employee benefits programme to keep up their benefits offerings with their peers and emerging needs of the workforce
Amazon considering UK insurance comparison site
An Amazon price comparison website for insurance products would be a potential challenge to existing UK sites given the U.S. company’s cutting-edge technology, reach and loyal customer base
IRDAI forms panel to review regulations on surveyors & loss assessors
Such changes may be necessary in order to ensure alignment and clarity of the regulatory framework in relevance with the dynamics of the profession of Surveying and Loss Assessment vis-à-vis the Indian insurance sector, said, Sujay Banarji, Member (Distribution). IRDAI.
Lloyd’s launches Digital Distribution Platform`Lloyd’s Bridge’
Lloyd’s Bridge is an online platform that matches insurance businesses with underwriters from the Lloyd’s market, enabling these businesses to underwrite certain policies on behalf of Lloyd’s as Lloyd’s coverholders.*
IRDAI forms high-level panel to review regulations on Insurance Marketing Firm
The panel will recommend guidelines by July 31 on the areas on which the existing regulations are silent and ways to further strengthen the channel by taking up the products which fall under the jurisdiction of other financial sector regulators, including creating avenues for discussions with the other regulators, said Sujay Banarj, member(Distribution), IRDAI
IRDAI doubles capital requirements for broking companies
The new regulations, which have been unveiled on Wednesday, have specified Rs 75 lakh, Rs 4 crore and Rs 5 crore of capital for direct broker, reinsurance broker and composite broker respectively