The Insurance Act 1938 did not contain any definition of “insurance...
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President grants assent to SHANTI bill that opens up nuclear sector for private participation
President Droupadi Murmu The Bill introduces an elaborate framework...
Catastrophe bonds linked to wildfires lose ‘untouchable’ status
More than $5 billion of cat bonds with some level of exposure to...
Budget FY2024-25: Indian Insurance Industry’s Wish-list
The upcoming Budget 2024-25 is crucial for advancing insurance accessibility and inclusivity, in line with IRDAI's 'insurance for all by 2047' vision. Some of the important functionaries of the Indian industry put forward a few demands before union finance minister...
Zimbabwe receives $31.8 mln drought insurance from African Risk Capacity
The money from African Risk Capacity is expected to benefit 509,000 households. The government directly received a payment of $16.8 million Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the...
Insurers fret over militant attacks, AI hacks at Paris Olympics
German insurer Allianz is insurance partner for the Games. Other insurers, such as the Lloyd's of London market, are also providing cover. “We are all aware of the geopolitical situation the world is in,” said Eike Buergel, head of Allianz's Olympic and Paralympic...
IDFC First Bank raises Rs 3,200 cr by selling shares to LIC, 5 other insurers
The names of the six companies to whom shares have been allotted are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI...
Assam flood situation deteriorates, 16.50 lakh people affected in 29 districts
Chief Minister Himanta Biswa Sarma chaired a meeting on the flood situation with all District Commissioners late on Wednesday night and directed them to be liberal in granting relief as per norms, complete all rehabilitation claims as per norms before August 15 and...
Singapore Reinsurers’ Association announces new executive committee for 2024-2025,unveils its new logo
The new members of the SRA are-Cindy Foo from Berkley Insurance Company, Emma Loynes, Lloyd’s of London (Asia),Mukul Kishore, SCOR Reinsurance Asia-Pacific Pte Ltd and Victor Kuk,Swiss Re Asia Pte Ltd Singapore: The Singapore Reinsurers’ Association (SRA) in its...
Houthis intensify attacks on merchant ships, send drone boats packed with explosives into the Red Sea
Insurance industry sources said that additional war risk premiums, paid when vessels sail through the Red Sea, were quoted up to 0.7% of the value of a ship in recent days from around 1% earlier this year, adding hundreds of thousands of dollars of extra costs and the...
Paytm launches ‘Paytm Health Saathi’ for merchant partners
At Rs 35 per month, Paytm Health Saathi offers a range of services that includes unlimited doctor teleconsultation, and in-person doctor visits (OPD) within its partner network. It also includes income protection cover in the event of business interruptions due to...
Star Health launches Home Health Care service across 50 cities
Anand Roy,Managing director and CEO ,Star Health and Allied Insurance Company Customers can access treatment for various ailments such as fever, gastroenteritis, urinary tract infections, and more via a toll-free number or the Star Health mobile application. Through...
Howden ventures into Japanese market with launch of Howden Re
Howden Re Japan will provide reinsurance brokerage services to life and non-life companies in addition to strategic advice leveraging data, analytics and capital markets expertise for the Japanese market. Underinsurance of seismic risk makes up the majority of Japan’s...