Ajay Seth, chairman, IRDAI ``Evolving expectations of customers and...
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GIC Re Q4 profit rises 3% to Rs 2,254 crore with underwriting profit, pays dividend of Rs 13.25 per share
GIC Re's Combined ratio improved marginally to 103.43 per cent in...
US launches new strikes as talks stall,Iran says strikes violate ceasefire
Marco Rubio,U.S. Secretary of State Following strikes against...
Rising civil unrest pushes up SRCC(strikes, riots and civil commotion) claims globally
Claims tied to SRCC — strikes, riots and civil commotion — are emerging as a growing headache for insurers as episodes of unrest increasingly lead to the destruction of property in Western democracies.Howden Re estimates that insured losses related to SRCC soared from...
Govt launches PM RAHAT (Road Accident Victim Hospitalization and Assured Treatment) Scheme for road accident victims
Under the scheme, every eligible road accident victim on any category of road will be entitled to cashless treatment up to ₹1.5 lakh per victim, for period of 7 days from the date of accident. Stabilization treatment will be provided for up to 24 hours in...
Substantial reduction in out-of-pocket expenditure on healthcare over past decade: Nadda
"India has witnessed a substantial reduction in out-of-pocket expenditure on healthcare over the past decade, easing the financial burden on households, particularly among economically vulnerable sections," Union Health Minister J. P. Nadda said India has seen a...
From chaos to coaching: How real-time AI is slashing road fatalities on Indian roads
While global conversations often centre on AI's role in automation and productivity, in India, the technology is finding its most profound application in a life-saving mission: curbing the country's staggering rate of road accidents. As India prepares for the upcoming...
Spain’s Map Re receives approval for its branch office in India’s GIFT City
“The authorization to operate in India means we’ll be even closer to our clients and that we’ll also be able to leverage our technical knowledge and underwriting capacity in a market with high development potential,” stated Miguel Rosa, CEO of Mapfre Re Mumbai/GIFT...
Investigation into AI-171 accident still in progress, clarifies AAIB
The preliminary report released earlier provided factual information available at that stage. The final investigation report, containing conclusions and safety recommendations, will be published upon completion of the investigation in line with established...
Aon appoints Joe Peiser as CEO of Risk Capital
Peiser's appointment reflects Aon's broader strategy to strengthen how the firm helps clients navigate increasing volatility by connecting risk with the most efficient forms of capital. DUBLIN: Aon plc, second largest international re/insurance broker today announced...
Japan:Businesses navigating rapidly changing market and geopolitical volatility
Tatsuya Yamamoto, CEO of Japan at Aon, said, “Japanese organisations are operating in an environment of unprecedented complexity. Cyber, weather and geopolitical risks continue to be acute challenges for Japan businesses, underscoring the need for robust risk...
Govt deliberates on roadmap for Financial Inclusion 2.0
M. Nagaraju, Secretary, Department of Financial Services Nagaraju emphasized the need for further strengthening measures for achieving goal of presence of at least one bank branch in each subdivision in the North Eastern region, enhancing insurance and pension...
Govt notifies wage revision for PSU general insurance industry
The overall hike in wage bill will be 12.41 per cent with an increase of 14 per cent on existing basic pay and dearness alowance.A total of 43,247 PSGIC employees will benefit from this revision.The total outgo for the six companies will be to the tune of Rs 8170.30...