Shaktikanta Das,Governor,Reserve Bank of India With the...
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The revamped charter aims to enable investors to better understand...
Consumer affairs ministry to issue guidelines to curb pesky calls, messages
"The Department of Consumer Affairs had started working on...
IRDA to extend renewal payment date for motor & health policies till June 1st week
IRDAI forthcoming decision will also include continuation of cover, Standard Fire and Special Perils Policy(commonly known as property policy)- by the general insurers to the “unoccupied properties’’.for more than one month
Coverage of Pandemic Risk through P/C Insurance could be designed like existing Federal Programs:US actuaries’ body
“Pandemic risk is more similar to the catastrophic risks covered by programs like the Terrorism Risk Insurance Program and the National Flood Insurance Program than to risks normally insured by the commercial insurance market, and any new federal program seeking to facilitate pandemic risk coverage should reflect that difference,” said Academy Vice President, Casualty, Lisa Slotznick, the signer of the letter on behalf of the Academy’s Casualty Practice Council to the House committee.
Covid-19 Pandemic:IRDA further extends grace period for paying life premium till May 30
All policy holders are requested to note that the objective of grace period allowed is to pay all the premiums due within that period so as to keep the policy coverage in force, said IRDAI..
Top insurers face lawsuit from UK hospitality sector on rejected biz interruption claims
Any successful claim will hinge partly on whether the lockdown triggers a clause in business interruption policies designed for insured premises that cannot be used because of restrictions imposed by a public authority, experts say.
The Financial Conduct Authority (FCA) said earlier this month that most insurance policies bought by smaller British companies do not cover the coronavirus-related disruption, but that those that do should pay out quickly.
In an all-cash deal,Axis Bank to acquire 29% of Max Life Insurance
Deal marks coming together of 3rd largest private bank and 4th largest private life insurer
Strategic transaction to strengthen the franchise and bring long term orientation to the
relationship
Axis Bank to own 30% stake in Max Life post transaction closure
Max Life to include Axis Bank logo in its brand tag line to demonstrate the close knit partnership
RBI announces Rs 50,000 cr special liquidity facility for mutual funds
In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
Australia will make it a crime to use coronavirus tracing data for non-health purposes
The federal government has said existing “social distancing” measures will remain until at least mid-May, and that its willingness to relax them will depend on whether people download the smartphone “app” to identify who a person with the illness has had contact with.
The tracing app, which is yet to be released, has raised concerns from legal and privacy advocates who have said the location data it collects may be used by unrelated bodies like law enforcement agencies.
Policyholders can pay health insurance premium in instalments:IRDAI
The premium installment facility may be offered either as a permanent feature or may be offered as a temporary relief for a period of twelve months (one policy year) in respect of all the health insurance policies that are due for renewal up to 31st March, 2021, said IRDAI.
Govt approval must for all FDIs from neighbouring countries including China
The note states: “A non-resident entity can invest in India, subject to the FDI Policy except in those sectors/activities which are prohibited. However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route.”
The new rules will also apply to ‘the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly,’ the DPIIT has said.
India’s central bank surprises with reverse repo rate cut in bid to spur bank lending
However, analysts believe much more help will be needed from the government to help tide over the crisis.The government so far has only announced a $22 billion package targetted at the poor but refrained from any big bang measures.