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“Acquisitions in India remain an option if a compelling opportunity arises aligning with our long-term vision”
Laurent Rousseau, CEO of Europe, IMEA and Global Capital Solutions,...
FIU-IND signs MoU with Irdai for enhanced coordination, information exchange
(L to R) Satyajit Tripathy, Member (distribution), Irdai and Vivek...
Cyber laws, rules, and guidance must be workable, risk-based, clear, transparent, and consistently applied across companies and jurisdictions:US Insurers
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Insurance policy and underwriting activities should not be misconstrued as cybersecurity risk assessments, which provide the insured with confidence that their security measures are sufficient to avoid or eliminate ransomware attacks.
Insurance is an important economic recovery resource for victims of ransomware attacks. Prohibitions on the reimbursement of legal ransom payments presents potential unintended consequence such as eliminating a meaningful risk management resource.
Like a customer’s decision on how to manage cyber risk, insurers must also be able to determine their risk appetite through careful underwriting and appropriate coverage offerings.
NPPA approves price rise of 50 per cent for carbamazepine, ranitidine, ibuprofen
To address the situation arising due to repeated price control, a one-time price increase of 50 per cent from the current ceiling price is being considered in public interest as an exceptional measure as advised by the Standing Committee on Affordable Medicines and Health Products (SCAMHP), NPPA said
New report outlines roadmap to deepen UK-India capital markets link
“Well functioning public markets underpin growth, innovation, job creation and the transition to a low carbon economy,” said Shrey Kohli, Director, Head of Debt Capital Markets, London Stock Exchange.
Emerging Asia: a $3.8 trillion-per-year pension savings gap
“The shortfall in saving for adequate and sustainable retirements cannot be bridged solely by government resources. Strong partnership between the state, the private sector and individuals will be key.Protecting people throughout their saving lifecycle has the potential to reduce poverty, ill-health and even social unrest, and should form a core building block of emerging markets’ longterm economic growth,” ,” said Jerome Jean Haegeli,Group Chief Economist, Swiss Re
LIC’s mega IPO gains momentum, Govt notifies amendments in LIC Act
According to one of the 27 proposed amendments, the central government will hold at least 75 per cent in LIC for the first five years post the IPO, and subsequently hold at least 51 per cent at all times after five years of the listing.
But from today, the policy holders will get 90 per cent of surplus generated by the corporation while the rest as dividends will go to the government and other shareholders who will be investing in the LIC through its Initial Public Offering(IPO).
Sebi approves stricter independent dir norms, measures to attract more investors into mkt
Under the proposed changes, a listed company will be required to disclose the resignation letter of an independent director and there will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group.
The new norms will be effective from January 1, 2022.
Allow life insurers to play bigger role in healthcare ecosystem, Deepak Parekh urges Irdai
‘While we continue to invest to enhance our technological capabilities, I feel that the time is right for the regulator (Irdai) to allow life insurers in India to evolve further and be the disruptor rather than the disrupted,’ HDFC Life Chairman Deepak S Parekh said.
Govt to refresh IT Act, but initial focus on PDP Bill: IT Secretary
Ministry of Electronics and IT (Meity) Secretary Ajay Prakash Sawhney, however said the government’s immediate focus is on putting in place the Personal Data Protection (PDP) Bill.
RBI prescribes qualifications for MDs, WTDs of urban cooperative banks
it has been decided that all UCBs having asset size of Rs 5,000 crore or above, shall appoint a Chief Risk Officer (CRO). The Board must clearly define the CRO’s role and responsibilities and ensure that he/she functions independently,” the circular said. The CRO should have direct reporting lines to MD/CEO or Board or the Risk Management Committee of the Board (RMC), it added.
Insurers pay Rs18,600 crore for settling 15.40 lakh Covid-19 claims :IRDAI
“Over 19.11 lakh covid health claims have been reported as on 22nd June as far as medical insurance or hospitalisation is concerned. While in terms of death claims, which is handled by the life insurers, about 55,276 claims have been intimated and nearly 88 per cent i.e., 48,484 claims amounting to Rs 3,593 crore have already been settled,” informed while inaugurating 13th Global Insurance E-Summit & Awards organised by ASSOCHAM.
She added that the repudiated claim for health is just about 4 per cent and in life it is just about 0.66 per cent, which is negligible.