The median out-of-pocket medical expenditure per hospitalisation...
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Transactional risk insurance gains traction in India
Aditya Samag, Private Equity and M&A Leader, Marsh India,...
Temasek, LIC, Canadian pension fund in line-up to sell stakes in India’s NSE IPO
Major state-owned insurers with significant stakes in the NSE as of...
Liberty Mutual Reinsurance and Safehub launch parametric earthquake insurance solution
ShakeNet Parametric reduces basis risk for parametric re/insurance policies, better aligning payout with actual losses. The scalable nature of Safehub’s technology allows for rapid and dense deployment of sensors, enabling risk transfer solutions even in...
J-K: Five killed, 14 injured as landslide hits Mata Vaishno Devi route
The hill state of Himachal Pradesh, already reeling under the devastation caused by multiple landslides and flash floods, saw shops being washed away, buildings collapsing, and highways cut off. A total of 680 roads were closed in the state, with Mandi and Kullu...
PSU general insurance industry unions stick to 17% wage hike demand
``In today's meeting with GIPSA through virtual mode, the Associations were offered an improved loading factor of 14 per cent. While thanking the management for their efforts to come out with enhanced offer but reiterated our demand for parity with LIC in pay scales....
TCS enables ICICI Lombard’s fully automated multi-region disaster recovery on AWS Cloud
“This intelligent, automation-led DR solution sets a new benchmark for BFSI organizations by enabling seamless, fast and scalable disaster recovery with zero touch''Ujjwal Mathur, president & country head – India Business, TCS MUMBAI: IT major Tata Consultancy...
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...