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Hormuz traffic plunges sharply, daily vessel crossings drop to 10 from 135 in Feb: S&P Global Energy
The slowdown has led to severe congestion, with around 850 oil...
IRDAI meets stakeholders of healthcare industry,forms 5 Working Groups for addressing critical challenges in health insurance
"The collaboration between payers and providers is essential for a...
Budget 2025: FM exempts basic customs duty on 36 life-saving drugs; boosts medical tourism
Establishment of cancer care centres and enhanced social security provisions for online platform workers. Boosting medical tourism in the country, the FM announced, a ‘Heal in India’ campaign in partnership with the private sector New Delhi:In a move aimed to provide...
Union Budget 2025:Insurance Reforms Bill with 100% FDI to be tabled soon, says Sitharaman
100% FDI proposal, larger reforms moves along with other Amendments in the various existing Acts, which have been awaited upon by the industry, will be part of separate draft Bill and will tabled in Parliament soon, said Finance Minister Nirmala Sitharaman Insurance...
Economic Survey urges insurers to address concerns on mis-selling, delayed claims settlements, AI, cybersecurity, and 3rd-party interactions
In the life insurance segment, there is a noticeable shift towards protection and guaranteed return savings products, which now cover 40 per cent of households, largely due to LIC’s extensive network. New Delhi: The Economic Survey presented by finance minister...
Europe’s insurers may face new capital rules for climate risk
The goal is “to ensure the continued protection of policyholders and the overall stability of the EU’s insurance market amid more erratic and damaging weather patterns,” EIOPA said Europe’s insurance watchdog has called for a recalibration of capital requirements to...
Closing Crisis Protection Gap: Leaders call for 10 fold higher finance to meet cost of future crises
Less than $1 of every $5,000 of crisis finance goes to low income countries in the form of prearranged finance. Annual global economic losses from unmitigated climate change are projected to range between $7 trillion and $38 trillion by 2050 The High-Level Panel on...
Lloyd’s appoints Alexandra Cliff as Chief Financial Officer
Alexandra Cliff Chief Financial Officer-designate, Lloyd's Alex has over 20 years of experience in the insurance industry, having held senior finance roles in insurance and broking firms including Direct Line Group, StarStone, and AJ Gallagher London: Lloyd’s, the...
Midair collision kills 67 people in the deadliest US air disaster in almost a quarter century
President Donald Trump told a White House news conference that no one survived.At least 28 bodies were pulled from the icy waters of the Potomac River after the helicopter apparently flew into the path of the American Airlines regional jet late Wednesday while it was...
Irdai caps health insurance premium hikes for senior citizens at 10 pc per annum
Irdai further said insurers will have to undertake prior consultation with it if the increase proposed in the premium for senior citizens is more than 10 per cent per annum. Hyderabad: Insurance regulator Irdai on Thursday directed insurers not to increase health...
Passenger plane catches fire at South Korean airport. All 176 people on board are evacuated
The Airbus A321 jet caught fire near the cabin’s back seats, Korea’s transport ministry said A fire broke out on a plane operated by Air Busan Co. at a local airport in South Korea late Tuesday, with everyone on board evacuated. Flight BX391, departing from Gimhae...
British and American ships tentatively return to the Red Sea
Six ships linked to the US and UK have successfully transited the area without coming under attack since Jan. 19, when the Houthis said they would stop targeting vessels associated with those countries, according to the Joint Maritime Information Center, which...