The planned fund would provide a clear legal mechanism to finance...
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Cyber Insurance: Ransomware remains biggest driver of claims
``Asian businesses with overseas presence should also consider...
HDFC Ergo expects 3%-5% margin pressure on its retail Health products without ITC
``We have already passed on the full zero GST benefit to new retail...
Odisha govt selects four insurers to provide covers for Kharfi 2023 to Rabi 2025-26
Four insurance companies have been selected through e-tender, namely – Agricultural Insurance Company of India Ltd, SBI General Insurance Company Ltd., Future Generali India Insurance Ltd. and Reliance GIC Ltd for this cycle The farmers' share of premium under the...
Health, motor continue to drive general insurance, Q1 sales jump 17.9%
In June, the non-life insurance industry reported a premium of Rs 20,451.9 crore growing by 14.8 per cent on-year compared to 20.6 per cent in the same period last year, according to the data collated by Care Ratings Mumbai: Robust demand for health and motor covers...
IRDAI announces 3 winners for its first hackathon – “Bima Manthan 2022”
The winners are- AiBorne Tech, which has won the contest for its ` Motor Fraud Prevention/Mitigation’ project, Policybazaar Insurance Brokers Private Limited has become the 1st runner in the contest for its project `Last mile insurance coverage’ while Vlinder is the...
Govt seeks Cabinet nod to table `Insurance Act 2023′ in Parliament, `Insurance Act, 1938’ to be repealed
From the legislative point of of view, enacting `Insurance Act 2023’ by repealing `Insurance Act 1938' will be a simple exercise as its doesn't involve any major changes Earlier, the government dropped all its plans to bring in much talked about major reforms in the...
Property insurers’ ratings under pressure as risk rises: Morningstar
Insurers can opt to pay more for the same reinsurance package, or cut costs by restricting new business, withdrawing from certain regions or business lines or adjusting their strategy, such as by cutting costs on more frequent but less severe perils, Morningstar said....
75 pc districts exposed to extreme floods only 25 pc of them have early warning systems report
Approximately 66 per cent of individuals in India are exposed to extreme flood events; however, only 33 per cent of them are covered by flood EWS. Moreover, 25 per cent of the Indian population is exposed to cyclones and their impacts, but cyclone warnings are...
Allianz US unit ordered to pay $6 billion in securities fraud case
US District Judge Colleen McMahon imposed the sentence Wednesday in Manhattan on Allianz Global Investors US, which had agreed to the payout last year when it pleaded guilty to a single criminal charge of securities fraud as part of a deal with federal prosecutors. It...
US to decide whether to OK GM self-driving car deployment plan
The petition filed in February 2022 seeks government approval to deploy vehicles annually without steering wheels, mirrors, turn signals or windshield wipers A top U.S. auto safety official said Wednesday regulators will soon decide on a petition filed by General...
Russia’s flagship crude oil surpasses G-7 price cap for first time
For some buyers of the Russian flagship crude, the breaching of the cap poses an immediate headache. This is especially true in India, a market that has sustained Russian exports but where some purchasers are still reliant on key Western services to keep imports...
EU Widens Probe of Suicide Risks Linked to Weight-Loss Drugs
The European Medicines Agency said Monday that it was looking at three adverse events in connection with Ozempic and Saxenda after receiving reports from the Icelandic Medicines Agency. Two cases of suicidal thoughts were reported to the EMA relating to the drugs,...