The head hunting institution of the government interfaced with...
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Social security coverage rises to 64% from 19% in 2014: Mansukh Mandaviya
Labour and Employment Minister Mansukh Mandaviya noted that 94...
AXA & Insurance Development Forum raise $340 million Infrastructure Resilience Development Fund
This debt fund will invest in small to medium-sized commercial...
Consulting firm McKinsey agrees to USD 78 million settlement with insurers over opioids
The insurers argued that McKinsey worked with Purdue Pharma – the maker of OxyContin – to create and employ aggressive marketing and sales tactics to overcome doctors' reservations about the highly addictive drugs. Insurers said that forced them to pay for...
Eurostar cancels trains due to flooding, stranding hundreds of travelers in Paris and London
The U.K. has been battered by strong, gusty winds and heavy rain brought by Storm Gerrit throughout the holiday period. More stormy weather and travel disruption is expected during the last weekend of the year The holiday travel plans of hundreds of people were...
Jan 1 renewals: Orderly reinsurance market with increasing capital, says Guy Carpenter
Global property catastrophe reinsurance risk-adjusted rate changes averaged from near-flat to single-digits up for non-loss impacted and 10%-30% up for loss-impacted programs, with a wide range of outcomes around these averages Guy Carpenter and AM Best’s 2023...
Risk Report: Building Risk Culture for India Inc
Sanjeev Mantri, MD & CEO, ICICI General Insurance Profound urgency of Climate Change continues to be undervalued among India Inc. Only Energy and Utilities, Hospitality, Infrastructure and Real Estate and FMCG sectors identified Climate Change and Natural...
Tokyo court only holds utility responsible to compensate Fukushima evacuees and reduces damages
The decision is among the four rulings that apparently came in line with the June 2022 Supreme Court decision that said the government wasn't liable for the disaster and that the disaster from a tsunami that high wasn't foreseeable or preventable A Tokyo court has...
China metals giant faces protest in Indonesia after fatal blast
The deadly blast at a furnace run by PT Indonesia Tsingshan Stainless Steel — which is controlled by the Chinese group — has triggered a police investigation and a halt to the firm’s operations. Tsingshan is the world’s biggest nickel producer and one of Indonesia’s...
Japan asks four non-life insurers to stop anti-competitive business practices
The order was issued to Aioi Nissay Dowa Insurance, Sompo Japan Insurance, Tokio Marine & Nichido and Mitsui Sumitomo Insurance.The four had been asked to report to the regulator on whether they engaged in prior consultations with each other when preparing...
India records six Covid-19 deaths, 692 new cases in 24 hrs; total active caseload at 4,097
A total of 109 cases of the JN.1 sub-variant have been detected in India until Wednesday, as per Health Ministry sources New Delhi: India records six Covid-19 deaths, 692 new cases in 24 hrs; total active caseload at 4,097India recorded 692 fresh cases of COVID-19 in...
CCI clears Hinduja group owned entities’ acquisition of controlling stake in Reliance Capital
Reliance Capital's subsidiaries and associates are engaged in various businesses in the financial service sector including insurance New Delhi: The Competition Commission of India (CCI) has approved acquisition of controlling stake in Reliance Capital Ltd by Hinduja...
Indian general insurers see record underwriting losses of Rs31,810 crore in Fy 2022-23, PSU general insurers shut 1,148 offices
The public sector insurers' underwriting losses, with OIC's largest losses of Rs 7,500 crore, constituted 77 per cent of non-life industry losses amounting to Rs 25,317 crore and remaining by private sector insurers amounting to Rs 8,699 crore, said Irda's annual...