The watchdog has imposed a monetary penalty of Rs 2 crore on...
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Govt warns subscribers against unfamiliar international calls
"The DoT advises citizens that they should show caution with...
Govt launches AI tools, e-commerce safety measures to boost consumer protection
The Consumer Protection Authority (CCPA) is drafting new guidelines...
LIC’s PK Arora appointed as member, Actuary, IRDA
The post of member IRDAI had fallen vacant after Pournima Gupte, completed her five year tenure in Januray
Six actuaries including Gupte were interviewed by a high powered panel headed by the Cabinet Secretary Rajiv Gauba.
Get used to limited access, EU tells City of London bankers & insurers
Brexit makes it “even more urgent” for the EU to develop its own capital market to cut reliance on the City of London, Europe’s biggest financial centre, Mairead McGuinness said.
Britain’s full access to the EU ends on Dec. 31 when a transition period that followed Brexit in January expires.
Many banks, asset managers and insurers in London have opened hubs in the bloc to avoid disruption to clients from limited direct access from the UK.
Covid 19 Pandemic to hit life insurers’ investment income,ULIP and Pension and Annuity business:LIC Chief
TR Alamelu, member, IRDAI explained that that the solution to the issue of under-insurance in the country does not lie in mandating insurance because a stage has been reached where insurance should be a product on “demand” and It cannot be forced upon consumers by the industry or other stakeholders.
Italian regulator probes Allianz, Generali and UnipolSai over car claims
The regulator said the top European three companies had allegedly made it difficult for clients to properly access accident files. This might have hampered claims and masked the criteria for quantifying compensation, it added
Lakshmi Vilas Bank-DBIL merger effective from Nov 27: RBI
Depositors of LVB will be able to operate their accounts as customers of DBS Bank India with effect from Friday.
“Consequently the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date,” it said.
Will finalise data protection law very soon: Ravi Shankar Prasad
Prasad said major global companies, including from India, have committed to invest close to Rs 11 lakh crore in the next five years and proposed to manufacture mobiles and components, out of which Rs seven lakh crore would be only for exports.
Govt appoints S.N. Rajeswari as member(Distribution), IRDAI
“The Appointments Committee of the Cabinet has approved the appointment of Rajeswari, as Whole-Time Member (Distribution) in Insurance Regulatory and Development Authority of India (IRDAI), initially for a period of three years, with effect from the date of assumption of charge of the post, or till attaining the age of sixty-two years, or until further orders, whichever is the earliest, said an order by the Depat of Personnel and Training.on Wdnesday.
Insurers are trying to escape COVID-19 liability, watchdog tells UK Supreme Cour
A lawyer for the Financial Conduct Authority (FCA), which brought a test case against insurers on behalf of policyholders, said insurers had reached an “extraordinary conclusion” that business losses were largely uncovered during the coronavirus pandemic because of the widespread havoc it has caused.
“(Insurers) are saying: ‘We insure perils but not ones that are going to cost us a huge amount of money. We never contemplated that’. Well, that isn’t an answer,” Colin Edelman, the FCA’s lawyer, told the second day of a four-day appeal, watched by thousands of businesses brought to their knees during the pandemic.
Indian drug firms recall various products in US market
As per the USFDA, the company is recalling the product due to deviation from the current good manufacturing practices (CGMP).
“FDA analysis detected N-Nitrosodimethylamine (NDMA) impurity above the acceptable intake level,” it noted.
China regulator says financial innovation must not create oligopolies
Xiao Yuanqi, chief risk officer at the China Banking and Insurance Regulatory Commission (CBRIC) told the Caixin Summit in Beijing that innovation should not undermine healthy competition or let innovation pioneers become hindrances to further innovation.