The judgment clarified that dismissal is a punitive action taken...
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Trump signs executive order directing US withdrawal from the Paris climate agreement — again
US President Donald Trump Trump also signed a letter to the United...
IFSCA and IRDAI to work together for pulling global re/insurance investment into India: Rajaraman
L to R - PK Arora, Member, IRDAI, T Alamelu, Principal Advisor,...
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.
Swiss financial market supervisor sees pandemic’s strain lasting
Banks — especially Switzerland’s two big banks, UBS and Credit Suisse — were exposed to heightened risks of debtor bankruptcies and writedowns on loans to corporate clients outside Switzerland, which has experienced a less pronounced downturn than many other countries
IRDAI allows e-signature of customers for buying life insurance policies till March 2021
The insurance agents can’t solicit non-single premium unit-linked insurance policies for annualized premium exceeding Rs.50,000 or single premium unit-linked insurance policies exceeding Rs. 1,00,000.
Europe charges Amazon with using its dominance and data to squeeze rivals
The regulator looked into how the company collects data on competitors that sell on its platform, offering everything from electronics and toys to food and kitchenware. It says that Amazon uses that sensitive information, which shows what is proving popular or not, to better target its own products.
Still no clarity from UK to assess financial market access, says EU
With less than two months before Britain’s full access to the EU ends under post-Brexit transition arrangements on Dec. 31, London’s giant financial hub faces being largely cut off from its biggest customer.
Britain’s finance minister, Rishi Sunak, said on Monday he would not wait for Brussels to decide on UK access and would instead unilaterally allow EU financial firms to offer selected services to UK customers from January.
Much at stake as Supreme Court weighs future of ‘Obamacare’
What’s at stake has real-world consequences for just about every American, as well as the health care industry, a major source of jobs and tax revenues. Whether the Affordable Care Act stays, goes, or is significantly changed, will affect the way life is lived in the US
The argument against the law from the Trump administration and conservative states is that the 10-year-old statute was rendered unconstitutional in its entirety when Congress dialled down to zero a penalty on those remaining uninsured.
President-elect Joe Biden would build on the ACA by improving it and adding a new public health insurance option. But party liberals want a government-run system for all Americans, including the 160 million covered through employer plans.
Sebi asks financial sector organisations to ensure compliance with CERT-In advisory
Among others, they were also advised to ensure complete protection and seamless control over their critical system by continuous monitoring through direct control and supervision protocol mechanisms while keeping such data within the legal boundary of India.