“The general insurance sector is operating in an increasingly...
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National Insurance Academy sets up Centre of Learning in Insurance and Cyber Security
NIA has signed a Memorandum of Understanding with C3i Hub, IIT...
Group Health Insurance: Future Of Employee Benefits
Shashank Chapekar , Chief distribution officer , ManipalCigna...
$35 billion of global insured losses from natural catastrophes in H1 2022: Swiss Re
Martin Bertogg, Head of Catastrophe Perils at Swiss Re Floods in South Africa as well as in India, China and Bangladesh further confirm the growing loss potential from floods in urbanized areas globally Martin Bertogg, Head of Catastrophe Perils at Swiss Re, said:...
Rising cost may hurt Indian insurance industry: YouGov’s global Survey
In a recent survey, YouGov asked consumers across 18 markets in which areas would they first make cutbacks if their household budget is squeezed due to increase in cost of living. Over a tenth (13%) of global consumers answered insurance policies or premiums The...
Ukraine makes its first shipment of grain since Russia’s invasion
Scores of ships are stuck in the ports dotted along the Black Sea and are expected to begin moving out in “caravans” if all goes well However, shipowners will have to secure insurance for cargoes and vessels, and also find enough crew to sail them Ukraine made its...
IRDA caps total expenses(EoM) for non-life insurers at 30%, asks them to prepare board approved annual business and capital raising plans
Every insurer has to formulate a business plan in advance on an annual basis, which has to be approved by the respective board. The plan should, at the minimum, clearly state the the projected requirements of capital during the said financial year, projection of...
8 killed in Jabalpur hospital fire
Madhya Pradesh Chief Minister Shivraj Singh Chouhan expressed grief over the tragedy and announced a compensation of Rs 5 lakh each to the family of the deceased and Rs 50,000 per injured Jabalpur: A private hospital, that came up just last year during the coronavirus...
Piramal,Torrent,Oaktree and IndusInd Bank want extension of deadline for submitting bids for Reliance Capital
Few bidders, including Piramal, Torrent, Oaktree and IndusInd Bank, have written to the administrator seeking an extension of the deadline from existing August 10 to September 15. Moreover, sources said, one of the bidders Piramal Group is also facing roadblock as...
“PMFBY premium can come down by exploiting more technology to bring in more transparency and objectivity in loss assessment’’ Malaya Poddar,CMD, Agriculture Insurance Company
Malaya Poddar,CMD, Agriculture Insurance Company AIC's market share in Crop Insurance increased from 29 % to about 50 % currently over the last 3 years AIC has recently obtained a full-fledged "Agriculture Insurance" license from the regulator IRDAI which it has been...
IRDA approves 30% expense of management(EoM) limit for general insurers, allows Corporate Agent to have 9 tie-ups
Debasish Panda,chairman,IRDAI Corporate agents are allowed to place commercial lines and general insurance covers without any limit on the sum insured The Insurance Marketing Firms (IMF) will be allowed to engage Insurance Sales Persons (ISP) for the purpose of...
Deficient rains threaten Kharif crop production in Uttar Pradesh
Of the total 75 districts of the state, 67 recorded deficient rainfall while only seven recorded normal rainfall during this period Lucknow: With deficient rains across Uttar Pradesh in this monsoon, farmers are staring at difficult days ahead fearing a sharp...
U.S. crop insurers post record-high premium growth on rising commodity prices and innovation
Revenue policies make up the bulk of the premium for the MPCI program, according to the report, so the loss ratio for revenue products has the most significant impact on the overall results of the program OLDWICK, N.J: Premiums in the US multi-peril crop insurance...