Currently, the Centre holds 45.48 per cent while holds 49.24 per...
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Four Nations Insurance Alliance: Tackling rising risks of economic resilience
Insurance bodies representing Australia, the United Kingdom, Canada...
AI becomes experts’ top concern, ahead of climate change:AXA Future Risks Report
Thomas Buberl, chief executive officer,AXA, said,``In a world where...
Swiss Re establishes exclusive partnerships with Bajaj General Insurance in India
Andreas Berger, Group CEO, Swiss Re The plan is to provide underwriting expertise in lines of business that are critical for the continued growth of the Indian economy, including high-tech and manufacturing sectors. The partnership also intends to offer international...
South Korean banks and insurers hunt for overseas deals
A rapidly aging population and a mature domestic market are pushing Korean financial groups to head out. Backed by strong balance sheets, they are scouring investments ranging from US insurance and retirement businesses to banks and consumer-finance companies across...
French court finds Swiftair guilty of corporate manslaughter over Mali crash
A French judge ordered the company to pay the maximum fine in France of €225,000 for corporate manslaughter, “or involuntary homicide,” after a three-week trial earlier this year over the crash of a Swiftair-owned MD-83 airliner. The Paris Criminal Court found Spanish...
IRDAI’s proposed distribution reforms will hurt policyholders, cost jobs and slow insurance growth, says IBAI
The association urges the IRDAI to preserve the 2023 framework, publish an impact assessment and target genuine mis-selling instead of imposing blanket commission caps Mumbai: The Insurance Brokers Association of India (IBAI), the official apex body of India's 798...
SC slams 10-fold cancer drug markup by hospitals, backs 16% margin cap
A bench of Justices Vikram Nath and Sandeep Mehta asked the Centre to look into the issue of hospitals mandating the purchase of medicines from their chemists and said it is the common man who suffers from this system. "This is carnage. Plain and simple. The cancer...
Govt launches live stock insurance portal
Rajiv Ranjan Singh, Union Minister of Fisheries, Animal Husbandry & Dairying The newly launched Livestock Insurance Portal provides an end-to-end digital ecosystem for policy issuance, premium management, claim processing, beneficiary verification and real-time...
IRDAI weighs Jan 1 or Apr 1, 2027 rollout of new distribution reforms & EoM norms; Bima Sugam likely by November: Seth
Ajay Seth, Chairman, IRDAI Defending the regulator’s sweeping proposals to recalibrate insurance distribution economics, Seth said the proposed framework should ultimately benefit policyholders by creating greater efficiencies and potentially lowering premiums.The...
Bharat Maritime Insurance Pool issues 3000 Cargo War, 92 Hull War-risk and 3 P&I policies, War-risk prms fall by 35–40%
Also,for the first time, Indian companies are insuring Indian ships independently for higher-value vessels. The coverage spans Hull & Machinery, Cargo against War perils in High-Risk Area and Protection & Indemnity. New Delhi:Amidst prolonged West Asia...
5 Yrs of PM-Jay:60 cr beneficiaries,13 cr hospital admissions, Rs 2 lakh cr spent on treatments, says Nadda
J P Nadda,Union Health Minister Dr M Srinivas, Member (Health), NITI Aayog, said the next phase of PM-JAY should focus on strengthening continuity of care, quality and patient-centric healthcare, including seamless referral mechanisms for patients requiring...
Drought declared in three-quarters of India’s richest state, Maharashtra
The declaration in Maharashtra came after the national weather department forecast India would end its annual monsoon season with a rainfall deficit, threatening farmers' livelihoods. A stronger-than-usual El Nino climate phenomenon, which typically brings drier...