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Govt raises wage hike offer to 14% from 12% for PSU general insurance industry
The GIPSA has called for a virtual meeting of unions on Tuesday...
Willis expands into specialty lines, hires talent in Japan
The Japanese general insurance market is projected to grow from...
IRDAI fine-tuning Bima Sugam plans, revamping claim settlement process and ombudsman network: Chairman
(Lto R) SN Rajeswari, member(Distribution), IRDAI, Debasish Panda, chairman,IRDAI, Sumit Bohra, president,Insurance Brokers Association at the Annual Brokers' Meet in Mumbai on Friday "We are working to make the platform and the product as glitch-free as possible,"...
Phailin to Amphan A look at deadliest cyclones that hit India in last 10 years
India, with a total coastal area of 7,516 km, is exposed to around 8 per cent of the world's tropical cyclones. Nearly 32 crore people in 9 coastal states -- Tamil Nadu, Andhra Pradesh, Odisha and West Bengal on the east coast and Kerala, Karnataka, Maharashtra, Goa...
Rule changes to bolster insurance penetration, more players to enter the sector soon: IRDAI Chief
Debasish Panda, Chairman, IRDAI Four new firms have entered the nation’s insurance sector in the last year, and a few more are in various stages of enrollment, indicating the business environment is favorable, according to Debasish Panda, Chairman, IRDAI. Assets under...
US cyber insurance premiums soars by 50% as ransomware attacks increase
Ransomware attacks soared last year, pushing demand for coverage after the pandemic-induced work-from-home era also made remote workers more vulnerable to digital attacks. Those attacks also spurred companies and individuals to adopt more robust cybersecurity measures...
Sitharaman chairs meeting of banks, insurance firms; reviews preparedness for cyclone ‘Biparjoy’
Niramala Sitharaman,Union Finance Minister ''MDs from the banks & insurance companies provided a detailed update on the precautionary measures for the #CycloneBiparjoy. During the meeting, Smt @nsitharaman stated that all Disaster Management protocols should be...
Zurich Insurance Group in talks to buy up to 51% stake of Kotak General Insurance for $400 million
Kotak, which is a relatively smaller general insurance player, is holding stake sale talks as it hopes to get an investor who can help them “turn around the business and grow faster”. Mumbai: Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General...
Emerging Risks: From frozen Arctic to hacking AI
Patrick Raaflaub, Swiss Re's Group Chief Risk Officer, said: "The concurrent increases in economic interests, environmental change and geopolitical tensions make the Arctic a hotbed for emerging risks and potential risk accumulation. With SONAR, we aim to proactively...
Putin says Russia thinking of ditching grain deal due to West’s ‘cheating’
Vladimir Putin, President, Russia "We are thinking about getting out of this grain deal now," Putin told a meeting of Russian war correspondents and military bloggers. "Unfortunately, we were once again cheated - nothing was done in terms of liberalising the supply of...
IRDA asks industry players to strictly comply with norms on reporting of `Cyber Security Incident’
All regulated entities are directed to scrupulously follow the provisions regarding reporting of incident to IRDAI and Cert-In. Further, the regulated entities are required to submit available details of `Cyber Security Incident' to the regulator in an enclosed format...
19 injured in gas leak at Tata Steel plant in Odisha’s Dhenkanal
"A total of 19 patients from Tata Steel's Meramandali plant in Dhenkanal were brought here. They have all suffered burns," Dr Subrat Jena, Ashwini Hospital, Cuttack said Cuttack: As many as 19 workers sustained burn injuries following an accident reported at a blast...