M Nagaraju, Secretary, Department of Financial Services ``The Bill...
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Raising FDI limit in insurance aimed at unlocking full potential of sector: FM
Nirmala Sitharaman Union ,Finance Minister "Further, this will...
Former finance secy Ajay Seth takes over as new chairman of IRDAI
Some of the other issues, which will be matter of focus for Seth,...
Govt proposes penalty of up to Rs 500 cr for data breach under Data Protection Bill
The draft bill, renamed as The Digital Personal Data Protection Bill, 2022, has laid out the conditions for collecting data and the consent of the people whose data would be processed. New Delhi: The government has raised the penalty amount to up to Rs 500 crore for...
AUM Asset Management launches ILS Ocean Fund Investing in ILS
The underwriting strategy for The Fund will mirror that of the captive insurance company in which it is invested, Ocean International Reinsurance Co Ltd. ("Ocean RE"), and will take a vertical cut of all lines of business (excluding Life Business), supported by the...
Oriental Insurance CMD Anjan Dey puts in his papers on health grounds
Anjan Dey, CMD, Oriental Insurance Company N Ramaswamy,general manager, GIC Re and RR Singh,diretor & general manager,OIC, are two top contenders for the OIC chief post Dey had joined OIC in March 2021 and has tenure till November 2023 It is now expected a lot of...
Pradhan writes to Tomar, seeks probe into farmers’ insurance scheme implementation in Odisha
Pradhan also sought a probe into the ''conduct of private insurance companies empanelled in the PMFBY in Odisha, especially in Bargarh district'' The education minister, in the letter, said that the issue was being raised by him after having received a petition from...
UK in advanced talks with regulators on insurance reforms
Ministers have pushed for insurers to be able to direct more capital into areas such as infrastructure and climate transition. The Prudential Regulation Authority (PRA) has warned that loosening the restrictions on where insurers can invest could put future...
Developing countries, China seek ‘loss and damage’ fund – draft proposal
The subject of loss and damage has for the first time been included on the official COP agenda. But developed and developing nations are split over whether a new mechanism is needed or whether existing financial institutions can deliver the cash needed. The G77 bloc...
Panda meets general re/insurers, takes stock of industry functioning
Debasish Panda,chairman, IRDAI ``This meeting was for general update and to review industry performance in terms of growth, loss ratio, claim settlement ratios, initiatives taken by the IRDAI in the last few months and as an industry what else can be done to...
Abortions, drug use exposed in cyberattack on Australian health insurer Medibank
Following through on a threat, the hackers began publishing the most private medical details of some of Medibank’s customers, including terminated pregnancies, treatment for drug and alcohol addiction and heart attacks, according to a cybersecurity analyst, victims...
BOC Aviation takes insurers to court over claim for jets in Russia
The insurers named in the proceedings, which the filing shows were issued on Nov.3, include Lloyd’s of London Ltd., AIG Inc., Chubb Ltd. and Swiss Re AG. Leasing firms have begun pursuing claims over huge losses since losing control of more than 400 leased planes...
Study finds link between computer access, mental health among young people
The findings of the study were published in Scientific Reports. The COVID-19 pandemic had a significant effect on young people's mental health, with evidence of rising levels of anxiety, depression, and psychological distress. Adolescence is a period when people are...