Union Minister of Road Transport and Highways Nitin Gadkari Under...
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War insurance costs spike for ship owners as Black Sea threats grow, sources say
War insurance costs for some port calls have been quoted between...
IndiGo cancels over 550 flights on Thursday
There were at least 118 flight cancellations at the Mumbai airport,...
South Africa’s President will sign health insurance bill into law for providing universal health coverage
South Africa’s President Cyril Ramaphosa The law aims to provide healthcare to millions of poorer citizens in a major overhaul of a two-tier system, which still reflects deep racial and social inequalities three decades after the end of white minority rule South...
Swiss Re 2023 net profit surges almost six times, in line with expectations
"We achieved all our financial targets in a year that was characterised by geopolitical turbulence and continued economic uncertainty. Improved price adequacy in our property and casualty businesses following strong renewals and our underwriting discipline helped us...
India’s small exporters reel as Red Sea crisis helps rivals nab business
Many suppliers sign export deals on a cost, insurance and freight basis, making them responsible for any increases in freight and insurance costs New Delhi: Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost...
Road ministry clarifies legal status of bike taxis
'It is clarified that as per section 2(28) of the MV Act, vehicles having less than four wheels fitted with an engine capacity exceeding 25cc are also included within the definition of motor vehicles. Hence, 'motorcycles' shall fall within the ambit of Section 2(7) of...
IRDAI proposes to increase free look period to 30 days for policyholders
No policy in case of life insurance shall be issued unless nomination is obtained, Nomination provisions relating to general, wherever applicable and health insurance policies introduced, Insurance policies meeting the defined criteria to be issued in Electronic form,...
Six PSU general re/insurers promote 16 officials as GMs
The government is yet to decide about the dates for holding interviews for selecting two CMDs, one for United India Insurance and another for New India Assurance and nine EDs for six companies New Delhi: Six PSU general insurers including GIC Re, who are members of...
Wipro invests $66 million in US insurtech Aggne
EAST BRUNSWICK, N.J/TAMPA, Fla/ BENGALURU: “The Aggne team has a deep and well-established experience in the P&C insurance space. Their unique IP and modular approach to implementations significantly accelerate time-to-market, driving faster business outcomes and...
Canada’s Fairfax denies Muddy Waters’ short report in expanded rebuttal
Fairfax said Muddy Waters neither called it nor wrote to it, and instead released the report during its quiet period with its “one-sided, ill-informed allegations and insinuations in a transparent attempt to profit by short selling our stock.” Fairfax Financial on...
ACORD announces new global advisory council to drive industry-wide collaboration and digitalisation
“With the accelerating pace of digital transformation in our industry, the formation of the ACORD Global Advisory Council is a timely and significant step towards increasing collaboration and alignment within leading insurance markets around the world. I look forward...
IRDAI unveils regulations for Bima Sugam, services will be free for customers
Bima Sugm will officially called as Rashtriya Bima Sugam Nigam Ltd and the shareholding of the company will be widely held amongst Life insurers, General Insurers and health insurers. Starting with a capital of Rs 200 crore, the shareholders, as and when required,...