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Chubb releases details structure of the Gulf Maritime Insurance Facility with DFC
The facility will provide war marine risk insurance for hull &...
Foetus older than 5 months would be treated as ‘person’ in eyes of law,entitled for compensation: HC
Justice Prashant Kumar of the court's Lucknow bench held that a...
Govt raises wage hike offer to 14% from 12% for PSU general insurance industry
The GIPSA has called for a virtual meeting of unions on Tuesday noon Earlier, the unions of of PSU general insurance industry had rejected a 12 per cent wage hike offered by the Department of Financial Services and demanded a 17 per cent hike to be on par with the...
Willis expands into specialty lines, hires talent in Japan
The Japanese general insurance market is projected to grow from JPY11.7 trillion (US$81.1 billion) in 2024 to JPY12.7 trillion (US$93.9 billion) by 2028, at a compound annual growth rate of 2.2%. TOKYO: Willis, a WTW business, today announced a significant expansion...
Universal Sompo General Insurance achieves ISO 27001:2022 & ISO 22301:2019 certifications
Universal Sompo has achieved two illustrious international certifications ISO 27001:2022 for Information Security Management Systems (ISMS), and ISO 22301:2019 for Business Continuity Management Systems (BCMS).This reinforces the insurer's commitment to global best...
Japan’s NEXI signs reinsurance agreement with ECGC
Under this agreement, NEXI will underwrite reinsurance for export credit insurance underwritten by ECGC for Japanese companies in India exporting goods from India to third countries, including those in Africa NEXI is in the process of registering as a reinsurer with...
GST Council to meet on Sep 3-4 to discuss moving to a two-rate structure
Nirmala Sitharaman,Union Finance Minister The council, comprising finance ministers of all states and UTs besides the Centre, will deliberate on the recommendations by the three GoMs on rate rationalisation, compensation cess and health and life insurance New Delhi:...
Healthcare Providers’ body asks hospitals to end cashless tie-up with Bajaj Allianz over low reimbursement rates
"We are confident of working amicably with AHPI and its member hospitals to arrive at a solution that is in the best interests of our customers," Bajaj Allianz General Insurance head (Health Administration Team) Bhaskar Nerurkar said in a statement. New Delhi: The...
EV manufacturers could lose edge if GST slashed on ICE vehicles: HSBC Report
HSBC outlines three possible scenarios. In the first, GST on small cars could be reduced from 28 per cent to 18 per cent, while larger cars may be moved to a new special rate of 40 per cent with the removal of the cess. This would lead to price cuts of around 8 per...
India InsurTech Association recognized as a “Champion of National Health Claims Exchange
The India InsurTech Association (IIA) has been formally recognized as a "Champion of NHCX" (National Health Claims Exchange) - India’s pioneering digital platform transforming health insurance claims. NHCX, led by the National Health Authority (NHA), is...
Star Health insures 30 lakh sr citizens, settles over Rs 11,500 cr worth of claims in past 18 yrs
Star Health company has insured 30 lakh active senior citizens and settled over ₹11,500 crore worth of claims in the past 18 years .As India’s senior population crosses 11% of the total demographic, the industry faces the urgent task of designing sustainable and...
Nayara turns to dark-fleet tankers and Russian oil for survival
The refiner, part-owned by Russian oil major Rosneft PJSC, is an important pillar of the Indian market. Its 400,000 barrels-a-day processing plant accounts for 8% of the country’s refining, and the company operates 7% of its fuel stations. It’s been forced to reduce...