Nippon Life Insurance Co.’s India unit is considering buying a...
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Govt wants insurance payouts to replace its compensation in managing natural disasters: DFS Secy
L to-R-Hitesh Kotak, Chief Executive, Japan, India, Korea, and...
Draft Insurance Laws Amendment Bill in advanced stages, to be tabled in Parliament shortly: Minister Pankaj Chaudhary
Pankaj Chaudhary,Minister of State for Finance M Nagaraju,...
IRDAI reduces general insurers’ obligatory cession for GIC Re to 4 % from 5 % in FY 2023
The approximate size of the Indian reinsurnace market is around Rs 55,000 cror in FY.2020-21. To begin with, obligatory cession for GIC Re was 10 per cent which was reduced to five per cent afterwards and the foreign reinsurers which are having braches in India are...
Govt seeks applications for a new IRDAI member(Non-Life)
TL Alamelu, member(Non-Life), IRDAI will be retiring on May 6,2022 after completing her three-year tenure New Delhi: The government on Monday has asked for applications to appoint a new member (Non-life), in Hyderabad based IRDAI. The current member(Non-Life),TL...
Life insurance is witnessing shift from ‘savings ’ to ‘protection’:IRDAI member
K. Ganesh, Member (Life), IRDAI said fintech will redefine distribution and customer services Pune: K. Ganesh, Member (Life), IRDAI has said the Covid-19 pandemic has changed the peoples’ perspective of life insurance from ‘savings oriented’ to ‘protection oriented’....
DPIIT to come out with revised FDI policy to facilitate LIC disinvestment: Secy
The matter is being discussed with the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM) New Delhi: The commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate...
France fines Google 150 million euro over cookie breaches
In its statement, the watchdog said it had found that the facebook.com, google.fr and youtube.com websites didn’t allow the refusal of cookies easily, citing Google’s video-streaming platform France’s data privacy watchdog CNIL said on Thursday it had fined Alphabet’s...
SBI, ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI
SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these banks in times of distress. Due to this perception, these lenders enjoy certain advantages in the funding markets. Mumbai: The...
RBI releases framework for offline digital payments
The acquirer should incur all liabilities arising out of technical or transaction security issues at the merchant's end. The RBI emphasised that offline payments will be covered under the provisions of its limited customer liability circulars Mumbai: To push digital...
IRDA proposes pay cut for insurance CEOs in case company underperforms financially, mulls tenure limit at15 yrs and age limit at 70 yrs
The variable remuneration should be reduced where there is deterioration in the financial performance of the insurer. The deterioration in the financial performance should generally lead to a contraction in the total amount of variable remuneration, which can even be...
Insurers have to pay claims for treatment of Covid -19 cases with Omicron variant :IRDAI
The insurance companies have put in place effective coordination mechanism with all their network providers (hospitals) for the purpose of making available seamless cashless facility to all policyholders in case of hospitalisation if any and render speedy services to...
Irdai directs Go Digit to withdraw product offering life insurance benefits
The matter relates to modification in the Digit Group Total Protect Policy by the insurer in July this year, under which one additional section by name of 'Major Illness Plus Cover' was incorporated in the policy Hyderabad: Insurance sector regulator Irdai has asked...