As automakers and government officials discuss the proposals, the...
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India’s auto sector to show weak retail trend in June, flat to single digit growth: Report
While May and June 2025 volumes saw some support from pre-buying...
(Re)Insurers capital unaffected by aircraft lessor settlement claims, says Fitch
However, ongoing geopolitical uncertainty, including the...
Ship insurers to cancel war cover for Russia, Ukraine from Jan. 1
UK P&I Club said on Dec. 23 that the issue had arisen because of a lack of availability of reinsurance for reinsurers, also known as retrocession “The Club’s reinsurers are no longer able to secure reinsurance for war risk exposure to Russian, Ukrainian or Belarus...
India aims to double auto industry size to Rs 15 lakh cr by 2024 end: Gadkari
Nitin Gadkari, Union minister for Road Transport and Highways ''Currently our automobile industry is Rs 7.5 lakh crore and we want to take it to Rs 15 lakh crore by the end of 2024, making it one of the largest automakers in the world, creating huge job...
1.53 lakh people died in 4.12 lakh road accidents in 2021: Report
“Road accidents decreased by 8.1 per cent and injuries decreased by 14.8 per cent in 2021 compared to 2019.Fatalities, however, on account of road accidents increased by 1.9 per cent in 2021 corresponding to the same period in 2019,” it said New Delhi: A total of...
Unprecedented hard global reinsurance market to make Indian re/insurance renewals costlier in FY2023-24
`Devesh Srivastava,CMD, GIC Re Supply side issues like Russia Ukraine conflict, high global inflation, capacity crunch, shortage of capital, large losses including high losses from Hurricane Ian have forced global reinsurers to jack up their prices exorbitantly for...
Cybersecurity could emerge as the biggest challenge in 2023
Cyber criminals are taking advantage of new and advanced methods to cause considerable damage to organisations' reputation, which could potentially cause huge financial losses. For businesses, taking the right preventive steps and investing in security measures is...
Japan asks its insurers to retain marine war cover for LNG shippers in Russian waters
The move comes after Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan Industry...
Consider discount on policy renewal for those with 3 doses of COVID-19 vaccine: Irdai to insurers
The regulator also urged insurers to ensure that empanelled hospitals are prohibited from taking deposit for COVID-19 hospitalisation, sources said, adding, some of the hospitals indulged in asking for deposit for COVID treatment during the first and second wave...
Goyal launches right to repair portal, autombile and farming equipments will be covered
On the 'right to repair' portal, manufacturers will share the manual of product details with customers so that they can either repair by self, by third parties, rather than depend on original manufacturers. Initially, mobile phones, electronic, consumer durables,...
Cryptocurrency: Covering Losses
Lloyd’s recently announced a new policy to insure against losses stored on certain cryptocurrency wallets. Until the broader insurance market catches up with the rise of cryptocurrency and such insurance becomes more commonly used, most policyholders will need to look...
Rajasthan has 90 per cent health insurance coverage: CM
The state government's Chiranjeevi Health Insurance Scheme, which provides a Rs 10-lakh cover, has come as a relief for people. Against the national average of 41 per cent, Rajasthan has 90 per cent coverage of health insurance, while the coverage is 15.9 per cent in...