The Pradhan Mantri Fasal Bima Yojana (PMFBY), introduced in the...
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IRDAI to come out with new regulations on industry’s commission structure soon:Seth
Ajay Seth, chairman, IRDAI ``We are working on the regulations...
Budget 26-27:Ensuring macro stability, policy clarity and gowth opportunity
As India moves confidently towards its vision of Viksit Bharat,...
Insured losses from CrowdStrike’s outage likely total $540 million to $1.08 billion, says insurer Parametrix
Fortune 500 firms excluding Microsoft to see $5.4 bln in CrowdStrike losses LONDON: U.S. Fortune 500 companies, excluding Microsoft will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike's...
18 killed as plane crashes during takeoff at Kathmandu airport
The plane caught fire after skidding off the runway at Kathmandu airport and crashing into a field east of the runway," the airport official added Kathmandu: A private airlines' Pokhara-bound plane crashed during takeoff at the Tribhuvan International Airport (TIA)...
CrowdStrike Chaos: (Re)Insurers could withstand preliminary loss estimates, says Fitch
``We expect claims will be mostly within the retentions of primary insurers,'' said Fitch Cyber risk remains difficult for insurers to assess due to the dynamic root causes of claims. Challenges include a lack of effective, widely accepted modeling tools and a limited...
Budget 2024: TDS reduced on life insurance policy payout from 5% to 2%, receives positive responses from insurers
The introduction of a clause pertaining to non-deductible expenses in Section 37 for life insurance companies may lead to tax litigation. The proposed hike in Capital Gain Tax is expected to impact the tax liabilities for ULIP policyholders Rushabh Gandhi, MD &...
PSU general insurance industry turns profitable with a combined profit of Rs 7558 crore in Fy 24
Ministry of Finance is yet to receive any proposals on wage revision of employees of six general insurers from the GIPSA, the coordinating agency for PSU general insurers,Pankaj Chaudhary, minister of state, Ministry of Finance said in Lok Sabha on Monday New Delhi:...
Somali piracy revives sharply after yrs of quiet
There were eight acts of piracy and hijackings in the first half of this year near the east African country, the International Maritime Bureau, a Kuala Lumpur- and London-based monitoring organization, said in a report Somali piracy — the scourge of merchant shipping...
CrowdStrike Crisis: Negotiating ‘Blue Screen of Death’ (BSOD) loop
Clear understanding and documentation of cyber insurance policies are essential to determine coverage in connection with such incidents. Insurers could see that their incident response and claims handling teams are stretched thin given the scale of this incident, as...
All airport operators to conduct third party audit of structural stability of buildings
"All the airport operators have also been directed to carry out a thorough evaluation of all civil, electrical and technical aspects of the building, including the design, specifications and workmanship of the roof sheeting structure before the onset of monsoon every...
Crop insurance to see growth from 2024 onwards, govt tech push to boost sector: Economic Survey 2023-24
"Agriculture premiums will likely rise from 2024 onwards, with an average real premium growth of 2.5 per cent over the medium term, supported by improvements in insurance infrastructure such as mobile applications and remote sensing for crop loss monitoring," the...
Eco-Survey: Banks and insurers must avoid mis-selling and address grievances to keep financial system healthy
Commercial banks and insurance companies, even as they aim to achieve greater market penetration, must keep in mind levels of financial literacy in the country, avoid over lending mis-selling and address grievances, such that the financial cycle stays healthy as long...