These numbers are slightly above the long-term average for 1950 to...
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Riskcovry launches first Model Context Protocol server as a distribution platform
Riskcovry, an insurtech infrastructure platform, has launched the...
AIC pays Rs7,057 crore of claims to over 1.12 crore farmers in FY25: Chairperson
Lavanya R. Mundayur, CMD, Agriculture Insurance Company Crop...
Insurance density in India rises from $78 in 2020-21 to $91in 2021-22, Insurance penetration at 4.2 % in 2021-22
While the penetration of life insurance sector has gone up from 2.15 per cent in 2001-02 to 3.2 per cent in 2021-22, non-life insurance penetration has gone up from 0.56 per cent to 1.0 per cent during the same period “2022 has been a year marked with milestone...
Insurers settled over 2.25 lakh death claims on account of Covid: Irdai report
The net incurred claims of the general insurers stood at Rs 1.41 lakh crore in 2021-22 as against Rs 1.12 lakh crore in 2020-21, an increase of about 26 per cent New Delhi: Over 2.25 lakh death claims due to the Covid-19 pandemic were settled by insurance companies up...
China likely seeing 1 mn Covid infections, 5,000 virus deaths every day
The situation could get even worse for the country of 1.4 billion people. This current wave may see the daily case rate rise to 3.7 million in January, according to Airfinity Ltd., a London-based analytics firm. There’ll likely then be another surge of infections that...
Random Covid testing for arriving international passengers from December 24
Prime Minister Modi urged everyone to follow Covid-appropriate behaviour, including wearing masks in crowded public places, at all times, especially in view of the upcoming festive season, according to a statement issued by the Prime Minister's Office (PMO).He also...
New India launches Drone insurance, to cover physical damage to the aircraft and its theft
Neerja Kapur, CMD,NIA said, “India’s drone manufacturing industry clocked annual sales of Rs 60 crores in FY 2021 and is expected to grow to Rs 900 crores by FY 2024. Thanks to the impetus given by the Government of India through the liberalised Drone Rules, 2021,...
Amending Insurance Acts: General Insurers oppose changes in capital requirements, granting composite licenses
On granting composite licenses, general insurers say,suddenly letting companies to enter into any segment will result in chaos and fragmentation of existing markets. This will also harm the interests of the existing policyholders in both life and nonlife segments, On...
Rajya Sabha passes bill to deal with maritime piracy with voice vote
In the bill, the government has added provisions for death penalty and life imprisonment for those convicted of maritime piracy External Affairs Minister S Jaishankar. told the House, "We will have jurisdiction on foreign ships (which would indulge in piracy)." . New...
Reliance Capital Auction: Torrent Group highest bidder at Rs 8,600 crore in phase 1
The acquisition will help Torrent group to venture into the financial services as Reliance Capital has a wholly owned subsidiary- Reliance General Insurance, and 51 per cent stake in Reliance Nippon Life Insurance among other assets. Hinduja Group was the second...
India detects 3 cases of Omicron subvariant BF.7 driving China’s Covid surge, Govt restarts random testing for international passengers
BF.7 is a sub-lineage of the Omicron variant BA.5 and has the strongest infection ability since it is highly transmissible, has a shorter incubation period, and has a higher capacity to cause reinfection or infect even those vaccinated. New Delhi: Three cases of...
PMFBY number one crop insurance scheme globally in terms of farmers enrollment: Tomar
The minister said 832.24 lakh farmers enrolled under the PMFBY during 2021-22 fiscal. The premium paid by farmers stood at Rs 3,77,026 crore while claims paid were Rs 13,728.63 crore during 2021-22 New Delhi: The Pradhan Mantri Fasal Bima Yojana (PMFBY) has become the...